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Market is taking interest. Better late than never, I say!

Says it all, StreetsJ.

Picked another lemon here.

I don't know what report your reading? STONKING annual figures were NOT delivered.

Year after year we wait....

Another serial disappointer.

I feel we should rename the thread. Soon it'll be 'Back in the 9's', or, more accurately, 'In the 9's', as we've never been back there before.

Reaction Engines was our 4th biggest holding, I think. Always looked a bit blue skies & flaky to me. 85% write-down... sounds about right. I wonder if the Schroder Juniors will stump up more cash.

I'm hanging in to witness the slow-motion car crash and inevitable wind-up.

Life's a gamble Pedrobull. Taking some of your points:

The sudden CFO resignation is a worry, I agree.

The cutting of costs, including staff costs, in a drive towards profitability is what I would hoped they would do and it's what they had promised. They have targeted breakeven, I invested on that basis, and I still think they can get there.

I was wrong in an earlier post when I said that they had raised when they promised they wouldn't. In fact, in the recent video, Thomas Ilube said that there would be a no more placings except for small raise for working capital purposes later in the year... so they actually did what they said they would, my mistake. The disappointing aspect, though, was the steepish discount in the placing and the fact that retail investors weren't offered participation. As it turns out, that was a good thing as the sp is now below the placing price. Nonetheless, llube coughing up £200k at 5p in that placing is of some comfort.

Yeah, it's a tiny unloved pre-profitab;le company, it is risky, no doubt....but... position size to reflect the risk, so that one can sleep at night and, who knows? That's how I'm playing it anyway.

Upgrade! Appears to be an upgrade from RBC, per the other chatboard.

Interesting though. It touched near £5.40. Thin trading I guess.

Any reason for the leg up this morning?

"It is the nature of investing to have some holdings which either never ripen or worse, gradually rot". So true, but I'm not sure TUNE falls into this category. Recovery is still possible, but now it's a longer wait and time is money.

The next update has arrived and the market reaction is negative. Thinning margins appears to be the issue. P*ssed off that I keep picking recovery plays that are taking longer than anticipated to recover! Meanwhile, companies I rejected as recovery plays are recovering nicely... Maybe I should stop this share picking malarky and stick to funds and trusts... anyway, not selling down here.

Having slept on it, I'm going to take the optimistic view and assume it was just a clumsily worded statement. Hopefully, once the market realises that with plenty of cash they had no intention of placing shares, but were rather seeking JV-type arrangements, a share price recovery will follow....

BOD have trashed the sp with an incredibly stupid forward statement about reviewing their funding options. Of course the market will assume it's a capital raise. So, now what are they going to do? Raise at a discount to 30p??

How to screw up the company's valuation real quick... jeez, where do they find these fools?

There are some panic sells out there, that's for sure.... when yr in a tizzy, maybe you don't even see the director buy.

Let's see if it moves the sp. You'd think it might, but so far nothing.

I can't see a 25 basis point cut in September having any effect on U.S. equity markets. Surely the most priced-in cut in history?

Yes, could become an opportunity...

How do they raise capital? As always, they issue new shares at a discount - often a large discount - to the undisturbed prevailing share price. Existing shareholders who do not participate get diluted. Knowledge of that prospect is more than enough to torpedo the sp.

Well, well, well - delayed revenues and, despite a "robust net cash position", the sugar-rush of an impending capital raise. Picked a lemon here.

Having seen the price reach £17.20 a share, I'm not selling down here either. My shares are effectively a free carry anyway, so I'm intensely relaxed about the future here...

And you may be right about adding on this pullback Buzzzzzz. Had I sold a few near the top, I might well be buying them back now. As is, am happy to ride along breezily with what I have.

Actually, there was no offer. So there was nothing for management to reject. There was an approach but that failed to materialise into anything.