Member Info for unitedguy

Giovs, bad news out of the way, They haven't updated us on sales yet.

DrC said "Every mask made is sold" implies sales going well or they haven't made many masks. Its all smoke and mirrors. Where is the sales update?

This lot wont post anything meaningful now until interims which will be due end of Sept.

Then if no sales and no CEO and still in discussions and still developing new products and still burning cash the share price will tank again.

Giovs, what not to like.

Nina, you would expect purchases and sales to be on same or similar terms so the profits from those sales would show as more cash in the bank. If there are any sales it just means they have burnt more cash than previously stated.

Nina, please see note 18, as of 31/01/2020 the trade and other receivables of 1.9M is not owed by customers, customers owe just 11K, VAT rebate due of 68K, prepayments 32K and balance is 1.8M must be balance of monies (gross) due from £5M fund raise. Sorry virtually nothing owed by customers.

Legge’s statement “Growing revenues of £104k (2019: £52k)” this includes all sales for Gyromentric and Cloudveil. Cloudveil max sales on this basis is 21K but IMO had no sales in the year.

The asset increase is mainly the cash raised or monies owed for the fund raise.

Corporation Tax is an asset because accumulation of losses can be used to offset against future taxes, or indeed companies with losses can be sold for a proportion of the tax asset.

I hope that answers your questions but please don’t wait for the sales update, if P2F had any sales RMS would have updated us by now if only to soften the blow of the accounts and that Gyrometric is another basket case without any sales which means writing of £500K plus previously loaned and through so goodbye cash at it too.

Nina, do you mean "trade and other receivables"

"too much talent not to succeed" where's the talent??

The only products is the masks which they cant sell.

Everything else is just talk, RMS haven't even said what the ideas are, yet you say you believe in the products.

DrMicho and poorinvester promoting this sad sad story of gross corporate incompetence.

Guys, how do you sleep at night?

poorinvester you told people not to sell at 1.5p then at 1.2p don't worry sales update end of May it will be great we'll ne 5p in no time.

Now you say don't sell at 1p when still no sales update just s**t results and disposal of assets for for minus £530K

if anyone is daft enough to listen you they deserve to lose more money.

If Im wrong people can buy back in at the first sign of success, an RNS showing good sales and new contracts until then sell.

Theosus, Im wrong about what ??

RMS has £1M less cash than raised after 5 months

It sounds like you want another fund raise and get diluted again.

poorinvester dude, RMS raised £6M cash and after 5 months has £5M left, please tell me where it went.

Poorinvester, 3.6M in banks at year end, 1.5M balance of funding round receveid after year end plus 900K from excersied warrants and options.

Now tell me how much do you think cash has come in from sales?

Hi poor and you'd get BAFTA for best comedic screenwriter.

If you want to know where the is going look at the three month graph, which hasn't got today in it yet. LOL

Very clever, I love the LOL

Poor please stop this now its insulting everyone's intelligence.

RMS had £6M now £5M = burnt through £170K a month every month in 2021s which is unbelievable in itself but if that include sales receipts then they are burning even more money.

If they also had 100K a month profit in sales then they are burning £270K a month.

Its hard to understand how they have burn £170K a month but £270K is out of this world.

They need to update sales as promised and a fuller trading update too.

Jarv I just went and checked you are correct Alex got cash and shares TB only shares though.

That change means burn rate 170K a month so 29 months money left and they still need to fund proper CEO, invest in P2F, nonosynth and Cloudveil to get some sales.

Nina, they have burnt £1M in 5 months. If they have had sales receipts too then they are burning even more money.

Either way it's lose lose

poorinvestor at the current burn rate that 25 months of money and then they have to invest some, probably a lot to make P2F work.

Nina, the info is in Legge's statement = Through placings in April, July and December, coupled with the exercise of warrants, the Company raised over £6.0m net of costs of £0.4m. £1.5m of the placing monies from December were not received until after the year end and hence are not included in the year-end cash balance of £3.6m. The exercise to date in 2021 of further warrants and options have raised an additional £0.9m for the Group and, as at 7 June 2021, its consolidated bank balance stood at approximately £5.0m .

RMS had 3.6M at year end plus a further 1.5M and 900K = £6M in total now £5M. So they are burning £200K a month.

MyIPA, RMS do not need the tax losses accumulated in Gyrometric as they have enough of their losses and besides this only becomes useful as and when you make a profit, which appears some way in the future.

Gyrometric has circa £850K of losses less adding back in debt to RMS leaves £350K tax losses. This is worth something to a profit making business in same sector plus what ever else is in the business even if only IP. As majority shareholders they should have put the business up for sale.

MyIPA if they have sales they should report them as promised. Another reason not to trust the current BoD.

your point about tax losses is fair but first they have to make a profit. On this note don't you think it strange to give Gyrometric with its tax losses for minus £33K when clearly another business would have paid money for Gyrometric to reduce its own corp tax position.