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News to come?Where is it??It needs to come soon

I’m not a troll by the way-far from it .The capital structure is broken-that’s why the SP is languishing

Long

The SP is also sliding because of the potential deluge of stock from the CLN coming soon and the fact they are short of cash-the obvious conclusion being another cash call in a shocking capital market.

AIM is off the table for the reasons I have explained-the £20m market cap tear.That rules out VCTs.

So you are left with an urgent requirement for very firm positive news next month or yet more paper to keep the doors open

He’s got a point but ‘told you so’ isn’t a pleasant trait.

The obvious thing here is lack of news

I will wait for the RNS Long-

Long-its my view they were trying to raise money for quite a while through the summer.Ask them.

There is undoubted VCT support for the company but only if it gets onto AIM for the tax reliefs that VCTs need-hence my point about the min £20m market cap.Again, ask the company.They would have moved to AIM were it not for this pesky min market cap criteria.

The company needs to convert the MOUs-nothing has changed.Otherwise it will be another small raise in December and no move to AIM

That’s not me being negative-it’s realism

Good luck Long-I do admire your positive outlook!

Long-they put money in because they had to-they were running out of cash runway.

As I said at the time, raising sufficient to get to £20m market cap, the minimum to fast track onto AIM, was always going to be a challenge, even with your supposed queue of VCTs.The evidence is there because they didn’t invest.The market is demanding positive news or the company will be in trouble in December.

Of course the market knows this-throw in the dodgy CLN, the low market cap and the Broughtwood trauma and things look challenging.They need to provide contract news and quick

I think they had to put money in Long-they had no cash runway and the market for new cash is extremely challenging

Nonetheless, they did put their money where their mouths..

Of course you are

Ok Mong-tell me where I’m wrong.Im all ears

Well all the companies I’ve been involved in at board level have very clear rules-naughty leavers lose their share options

I suspect his main focus will be the FCA-not faffing about with the share price

I wasn’t aware free speech was banned here and frankly you should listen to me because everything I have said so far has been pretty much correct.Its interesting nobody picked up on the £20m market cap point which I made re an AIM listing.

As I said earlier, I would astonished if MB was allowed to retain options on his removal from office.He’s a bad leaver in my opinion.

I also repeat-I’m a buyer if they convert the MOU into something of value

They certainly wouldn’t be able to subscribe if there was something in the offing-which means a bit more patience I’m afraid.Im beginning to think there will be a further small raise in December

Does the rogue director still have options?I would have expected those to have been removed from him.Anyone know?

I don’t think the CLNs will convert in Dec-why would they ?It would create a massive overhang, no new money, and frankly it’s too illiquid to sell stock

Rather-they will wait until we see positive trading news.

AIM is off the table with the gap in the MC and £20m being wide(see my earlier note)That cuts out the queue of VCTs apparently clambering to get in.

The only option here is positive operational news.

As for the directors, it’s ironic they put money in to keep the wagons rolling when the lions’ share of the cash burn is their salaries!Not entirely tax clever but I’m only a ‘transactional’ accountant according to Long.

So in summary , they need to put out some good old fashioned operational news with an indication of revenue

I posted this a few days ago-it’s clear to me though was a surprise when I checked it out

The Fast Track is simply faster and a lot cheaper route to AIM

https://docs.londonstockexchange.com/sites/default/files/documents/ADM%20template%20%2801012021%29.pdf

No chance of AIM as things stand-they would need to raise £13m of cash to get to the minimum £20m market cap under the Designated Fast Track Route-something I mentioned a while ago.

That means they need to get some news out, get the SP up and close the gap to get to £20m market cap.

Thanks

Cavendish are their advisors and would have provided what you say-I’ve been here myself with the companies I’ve been involved with and I just cannot see how this will not be properly punished

Sorry mate but you really need to be asking the CEO what plans he has to mitigate the new rules on Standard List shells like this.At the very least, he’s going to have to raise a big chunk of money-he has no currency other than a listing on a public market about to change the way these shells exist.

Best hope here would have been an RTO but that train has left the station.

In summary even the current market cap is under some stress

On this subject we agree Long-the whole affair smacks of a total disregard for the rules.I have no doubt the FCA are on it-but these things do take a while to investigate, even open and shut ones like this one appears to be.

Most well run PLCs have a share dealing guide, normally provided by the Nomad, with a Register for recording trades of connected parties.So it seems the BOD were cut out of the whole episode.

Careful-you are in danger of being ambushed by the mob with revolutionary talk about warrants and CLNs.Lots to happen in next 3 months so will be a roller coaster ride