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And I can't imagine it is going down well with customers who must be finding this unsettling and with employees who are also shareholders ( as the company extolled the virtues of its employees perks in terms of shares ownership and reward) I wonder how they are feeling having had the rug pulled both in terms of their wages over the past 3 months and now with the collapse of the share price?

I think it may be possible that many are looking around and wondering whether they would be better of elsewhere especially when you see the calibre of both business practices and tactics used here in recent days and weeks. A counter bid here may shake things up nicely.

Sondrel solved some of Neuralink problems with their recent human brain implant which other chip suppliers could not solve.

Any bid for the company would have to be hostile now as the company is planning to go ahead with the fundraising at 10p.

But up until the fundraising is completed there are still only 89m shares in issue plus the 2 monthly payroll loans which may convert into shares at 10p. A potential bid at say 13p would be a very interesting development and put the cat among the pigeons. Agreed, all this would be peanuts for Elon.

The company's skills, IP and ability to work down to 3nano are extremely rare and sought after. Competitors must be sitting up and taking an interest in how this will play out.

Re: EM good point . If Elon is so impressed with the company's problem solving contributions to Neuralink a bid of 12/15p would secure their chips manufacturing for the future.

I doubt whether Elon would have any trouble finding the 8.5 or 10 million needed for short term working cash requirements lol.

Complete value destruction here. All existing shareholders will be wiped out imo. It's only matter of time.

Exactly, there's no protection of the "small shareholder" as the previous poster puts it. This is just a deliberate, cynical, sabotage, of all existing shareholders so the new one can do what they want. Also shareholders have been kept in the dark about the delisting until they voted through the dilution on Monday unaware that the company was also to be delisted

Edward75 - re mkt reaction on Tuesday, I don't think as one poster said, this is headed to 1p, I think this is headed to zero.

Rox virtually owns this already with the 50%dilution then the two ( and how many more??) emergency monthly payday loans at punitive rates?? I wonder how they will address employee share ownership which we were lead to understand is quite high??

I agree that this was such a great company - a true world class British high tech cutting edge success story. What went so terribly wrong here??

I doubt any of the existing shareholders will end up with anything at the end of this. ClN/ private equity emergency rescues are fatal for any existing equity. Expect wipeout, hence the near 50% fall on Friday on the whiff of delisting intention. All over here now. Management may as well hand the keys to the front door to Roxi now.

Who is going to buy the fundraising at 10p now when the price is 5/6p because of the bombshell to delist ( in 6 months time ??) was delivered during the delicate and sensitive process of the fundraising???

Why were shareholders not told of the decision to delist when they were asked to vote on the fundraising meeting on Monday??????? This is frankly incredible to me.

What going to happen to the fundraising price now. Will Roxi half the price to 5p??????

How exactly is this supposed to encourage investment in smaller British companies, the aim market for emerging companies and the UK tech sector????

All that is good as an interesting side show( and actually as a means of diverting attention from what has actually happened) .

The fundraising was actually going well. The cash was a life saver to the company assuring it's future.Ok it meant that Roxi was going to get effectively half the company in return but shareholders would still have a stake( which they could maintain by participating in the fundraising) All good, in fact even more so as Curren's control would be lessened.

However the bombshell ( and it's nuclear and the result of this must have been foreseen) was the tactic to delist and take the company private announced at the same point as trying to get a big fundraising through and realise more emergency cash yesterday????

How obliviously destructive of any value that may be being restored. Delisting means existing shareholders are disenfranchised ( basically wiped out) when company go private they can do what they want. They can and usually do, dilute legacy shareholders out of existence. They sideline them, reissue shares, consolidate and generally rearrange them out of existence. My question is why do this now while still trying to arrange a delicate, critical fundraising to keep the very lights on at 10p????

The share price reaction says it all( - 45%in two or so hours?) incredible. If this was always the intention why was this not given out before the vote on Monday so shareholders knew the truth about f what was really happening. Shareholders voted for a fundraising and staying listed not to be obliterated.Why were these material facts witheld from shareholders??

Shareholders were voting without being given the complete facts???

I find it very hard to believe such a momentous and climatic ( read devastating) decision to delist the company and destroy shareholders was made on the day before good Friday and already packing up for the Easter break???hmm.

Frankly incredible turn of events this week

Hope most got out today at near or close to 10p. That's the last time that level will be seen imo. ( Roxis probably mopping up the shares today imo) The past 6/9 months have been a train crash here. With hindsight the resignation of the FD last autumn should have sounded alarm bells that cash crunch was inevitable. Why other individuals ignored this and carried on in denial or ignoring the reality is puzzling?? Siemens selling their massive stake in a fire sale was another alarm bells. This new apparent need for a second immediate bailout on top of the first temporary one and the big fundraising shows the company is on financial chaos imo literally living from hand to mouth and battling to keep the lights on. Quite how this parlous state of affairs is inspiring confidence in the skilled and highly sought after staff is anyone's guess. Particularly as many are shareholders/ paid in shares who are seeing their value decimated ( -45% today). ?? And Quite why they chose today to announce the icing on the cake, the intention to delist ( and deliver everything on a silver platter to Roxi,) is unfathomable. How will that inspire current shareholders to participate in the fundraising at 10p when they are delisting and getting dumped at 5 or 6p??? Brilliant guys? Unless that's the intention????. It is all so inept and sad. Will Roxi even have a company left at the end of all this as most stakeholders here, shareholders, employees etc are probably now demotivated and demoralised.

I guess much more pertinent is the outcome of the meeting to raise the emergency funds and the details of the larger fundraise to come in the next few weeks

Re free float: if you include directors holdings, institutions etc it is less than half of the very quite small 57 m shares in issue so approximately around 25m shares. Obviously institution can sell ( and buy) so that's a rough calculation though. dyor.

Managed to grab a few earlier.

Hmm guess that's the other point about lbe , very few shares in issue, tightly held, low mkt cap and low free float means when it moves it moves fast. Guess mms don't want buyers hence the wide spread, they want sellers!

Time to get back in for the next leg up ??

Posters saying that mkt cap is only 127m so what

What's the difference between mkt cap of 127m and say 100m when liabilities/ losses are still unknown/ unquantifiable. Mkt can be savage in scenarios like this . Could easily continue to fall this week until there is clarity.Selling begets selling and sp closed at low of day and week etc on Fri. suggesting further weakness

Really is the classic falling knife atm. Liabilities are unquantified. Could go anywhere through 40p to the low 30s. Classic friday pm slaughter imo

I agree. The main thing holding back this pretty impressive company was working capital so it can grow and action the amount of leading edge, high tech and high value contracts it has won and is continually winning!! The working cash issue will soon be finally sorted and the company can get going.