Member Info for wakeyinvestor

My view- sell the IP and get as much as possible, preserve the circa £10m cash (although it might be closer to £9m now) and put the company into members voluntary liquidation and return the value to shareholders, then we can all move on

Axis isn’t interested in whether value flows into the company shares or not, they just want a quick relatively risk free 20% and then onto the next AIM share desperately seeking a placing. Rinse and recycle.

Retail shareholders apathy has lost this, the vote could have been won with 2m. Alas, there wasn’t the same momentum from retail shareholders on this one as there was with NANO. Such a shame.

There was a recent vote to delist the company, but the company pulled the plug before the result of the vote was due to be announced. I suppose it’s always possible that they could try again but doubtful that will be anytime soon

Well Bunsenburner, if you’re 100% sure it’s going north above 1p then I suppose I should buy some then. 100% sure, I like that, sounds to me like a guarantee.

Most of the loan facility has been used to buy stock, the equity raise will be used in part to fund the costs of being on AIM - the cash can be depleted quickly even with the best of discipline - they just needed to tell us the cash position at the last trading update but for whatever reason they didn’t.

How do you know that? Worryingly, at the most recent trading update they did not mention the current cash balance position, so we don’t know how much they’ve spent since the last equity raise. Without that clarity it is not clear cut that new investors should dive in just because it’s dropped 70 % on no news and (supposedly) a seller is almost out.

Although the RNS is positive, and despite the fact this is not now delisting, there needs to be positive news about the business revenues and profit forecast (rather than just chipping away at costs) to really shift the share price upwards. The progress re the pipeline is what will move this it seems, and nothing else.

Although it looks undervalued surely it will need further funding and if this is an equity raise, this means significant dilution. The prior loan facility of £600,000 has been mostly drawdown so unless the trading has kicked off big time there is a funding gap before this can take off. Be careful, seller out or not.

Surprised at the breakout given funding share price, begins with a 3, nothing changed re business model, debt restructuring is a good outcome but will still need servicing and with no fundamental change to the business this feels a little like kicking the can down the road rather than properly addressing the root causes of the current situation

Wow, Richard Jennings confirmed in Stockbox interview today (about 11 minutes in) that he would continue to support the company if the USD 500,000 is not received and that there would be no placing. A very clear, blunt and unambiguous statement from our interim CEO.

Agreed, the days of 15p up to 40p are well in the rear view mirror. The RNS is lipstick on a pig, but with the consolation that the pig isn’t en route to the slaughterhouse.

This is good news for the survival and recovery of the company’s cash flow, but given placing price of 3p and CLNs converting at 3.2p or less, why the spike in the SP today? Best to hold fire and buy at or around 3p! At least it’s not delisting as I thought it might

One of the purposes of the settlement agreement will be to ensure we get paid by allowing Hebei to pay in manageable chunks over time with a reward that they get a discount if they fully pay up by the end of 2026; also once above circa 7m they start to build up a shareholding albeit this is revoked later if they fail to comply in full. Kazera has been accommodating on the one hand, but facing a reality that Hebei can’t pay in full immediately and also this agreement is less time consuming and costly than trying to secure a 3rd party purchaser. All makes commercial sense to me and is more likely to be honoured. If it isn’t were no worse off than we weee last week.

It might, but the key difference is that NANO isn’t looking to raise funds whereas ONDO is, so there is more tension in the latter case than the former. The silence from the company (ONDO) is starting to get deafening

They are taking a long time trying to sort out a short to medium term cash flow problem. As SP is well below nominal value it wouldn’t surprise me if they tried to delist the company giving the usual excuses about cost cutting, access to capital etc. Need positive update soon or……

Still can’t buy, what’s going on?

That said, they’ve gone into a lot of structure and details re the settlement agreement so if the first 500k didn’t arrive what would have it all been for, just to fall at the first easy hurdle.

The first test is if the USD 500,000 arrives by 8 July. If it does, great. If not, back to square one, fundraise.

Damn right Laura, a members voluntary liquidation asap before they squander the cash. I’d vote for that but then my average is 2.67p so my motive is clear.