Member Info for warrantwatcher

Massively oversold, would be interested to hear what people think would move the SP north ?

I would suggest you look at some of the history & alignment in what we have developed and what GSK are looking to do moving forward, or in some cases moving back into.

To my mind it is a case of when it is confirmed not if.

Why, well it's quite simple to me they can see a better mechanism to make money from this.

Either from the steady drip drip of cash raised at placings, then once they get close to a deal I am sure the Minty will instigate a D4E on the RMRI debt that gives them a big slice of the company at the lowest possible price and with no risk to themselves, it's in their DNA to behave this way.

They never have been & never will be interested in Share Holder sentiment or interests, in their eyes us PI's are a necessary annoyance. They really shouldn't be allowed anywhere near a listed company as they're morally corrupt

That's my fear, as far as I can see Damian has never really done anything & I'd imagine " daddy " was pushing him to do something so that he could pronounce a success even if it is / was a crock of **** deal - who knows with this lot, oh wait I am sure Mcadder will have reviewed it all so we are in safe hands

Absolutely farcical, but then from the outset this was always going to be the case, the fact that the board view this as independent is comical after all MRS are paying them to produce this report. The real pity is that it just allows the BOD to keep fleecing the workers & the investors. Just hope that the FCA pick this up and act with some tenacity & impartiality

sorry - I've just remembered you used the word " reviewed "

Sorry Mcadder, but you've gone right down in my estimation. You made claims that you are now denying. For the record it does matter as historically Minty has been using some larger holders to spread his latest fable, you seem to have been drawn into is lair, so until proved otherwise I am going to assume that you are the latest Minty Puppet.

As far as what it says in the RNS, I am afraid with this company's track record of incompetence, over promise & under delivery, selective information & general deceit the comments of GS really don't cut it with me. If you were at the AGM you would have heard from his own mouth what he committed to do and, as I have pointed out before, delivered none of it. All that they have done is to continue to pay themselves a salary, be agile with their finances into RMRI at the cost to investors & with NO RISK to themselves.

You can challenge me on my opinion & understanding of what you said but I am afraid the NUOG track record is there for all to see

Mcadder - that is not what I said, in fact I haven't accused you of anything. You made a comment about you having checked on the legal position and where reassured that our position was strong, to which I asked who have you checked with ?

No it was you

That was my point, but I wanted to understand what gave him that confidence

OK so my post was removed as the thread got deleted due to the original poster getting banned.

Mcadder my question still stands & that is in your email you did state something along the lines that you had checked about the contract & you where happy, who did you check with ?

Yes, I've had 1 of mine taking off, maybe they don't like the truth being said

The trouble is I am not sure that we can trust what is being told to us by anyone at NUOG as clearly they have been very manipulative in what they have said to date, nothing is communicated unless their hand is forced.

Well even by NUOG's own standards this week has been a complete car crash.

The Podcast was farcical, poorly delivered and quite honestly makes GS look a fool, taking into account what he promised to Share Holders at the AGM where he stated he would " under promise & over deliver " he has completely failed in that, he acknowledged the need to close revenue generating deals - he has failed to deliver that, especially when he mentioned that 2 deals where progressing & stated they where at advanced stages, he has also in the Podcast tried to spin the decimated SP as being the fault of the Open Offer - well sorry Graham look at why that was done, the share holders had little trust that the money raised would be used wisely, as it happens that is exactly what has happened as all the company has managed to do is pay the wages & not deliver any business.

The debacle of GHS seems only to have come out as a consequence of the desperate play by PVF, I fear that the contract that we have in place will have been dealt with by Minty and he will probably have ignored the legal advice as clearly Minty knows what he is doing more than an expert, time will tell on that, and while you could view this as a positive in that we could be able to work on this with another entity we aren't in a strong negotiating position to do so ?

It would also appear that the agreement that was made with a South American finance company was pointless as there has been no progress to update us with since that was announced, oh and Brazil seems to have conveniently been skipped in the last 6 months with no progress, despite having a man on the ground.

It may well be a small point but I found the wording of the second RNS quite galling and completely devoid of any consideration to share holders as they announced their delight at being able to dilute our investment further and continue to draw their respective salaries.

The concern I have is that it is clear that there isn't anybody in the business that has the ability or experience to close a deal, Graham comes from an Operational background & Minty comes from the Billy Liar school of economics, that said between himself & Damian it would appear he is also a graduate of the " Dynamo School of Accounting " particularly when you look at the accounting between RMRI .

Personally I have mentally checked out of NUOG, but still hold, it's worth a pittance of what it once was and I personally have almost no faith that the BOD will deliver anything at all to anyone other than themselves, and I am only keeping my shares so that I can attend the next AGM and tell them to their faces what I think of them.

I'm amazed he took 11 min to say almost nothing new, the only new piece was confirming what we all worked out months ago and that was that NFL was stopped along time ago. At the AGM I thought GS would change the direction of the business, how wrong I was, blaming the OO for the SP decline is quite simply pathetic from him. The root cause is the fact that they have delivered nothing of any value and they have destroyed SH trust, add to the fact that none of the BOD have any real cash invested in the business then this is now a real concern.

there is another scenario & that is they need the cash to keep going & that no deal is on the horizon ?

SID001 - that place has been for sale for ages, if you want a real laugh look on trip advisor for some of the reviews.

I can't believe that anyone in their right mind still backs the current BOD, casting aside individual characters just look at what they have failed to deliver and what they have actually done. In summary they've failed to do anything to assist the company as in the debt refinancing yet done everything they can for their own benefit, such as the outrageous drone purchase.

Now from a character perspective, having met Zorbas, Hogan & Brenton at different times I wouldn't trust them with anything at all. Look at the other businesses they've been involved with and show me ANY company that they have delivered long term share holder value ...... there are plenty that have had spiky SP's off the back of the various ramps they've orchestrated collectively ( although many zorbas & hogan ) but even those now are dead in the water. The 2 most recent being ANR & URU.

Which ever way you go having the current BOD in place will mean nobody will trust them in the slightest and therefore I can't see the SP recovering, it needs people running the business that care about the business, after all while the PI's are getting ripped off I feel for the honest people working on the ground while this lot of crooks take all the reward.

I think a collective of Dick Turpin and Jessie James would do a better job than the current BOD

To be honest Minty has now got PI's backed into a corner that there is little choice but to vote for the resolution, what happens if they fail ? as by my reckoning they won't be able to raise and the whole " dream " come crashing down. He's got long term holders by the short & curlys while avoiding any of the risk himself.

From his perspective he has played a blinder and had a good run of it taking many PI's money of all the leaked promises, unfortunately it is looking like Graham has been unable to deliver anything, in fact does anyone have a clue what he is actually doing for NUOG / MFDEVCO ? as to the outside world its nothing of value, and when I go back to what he said at the AGM he has done none of what he promised.

Like I have said before all that NUOG has become to me is an expensive lesson in my own research & things to look for, and the biggest thing now will always be the BOD sharing the risk with LTH's at similar levels, as in the main with my other holdings where that is the case then they share the same goals.

While I have a modicum of respect for DC in reversing his decision with the bonus I do believe that some of the damage has been done in the fact that he issued it in the 1st place & only because of the reaction has he declined to take them ?

That tells me that he is looking to benefit along the way as well as with shares, so not quite fully aligned with Share holders although through his investment he is a lot more aligned than others on AIM

Still the main concern I have here is the lack of forward order book and how quickly the revenues tail off when looking forward, especially when the majority of the agreements when announced have been referred to as multi year deals and yet from the forward order book that doesn't appear to be true. I am unclear how much of the £4.4m they say is secured for 2019 has already been booked ? Also to only have £1.3m booked for 2020 looks very light and I don't think these numbers have changed since the last update so the multi year deals aren't there ?

One of the big things I liked with the model was the predictable revenues coming from long term contracts as that adds significant value, we don't appear to be seeing that in the numbers that we are presented.

The final thing for me is that when looking at their priorities for 2019. Each one of them looks costly, there is no comment on the cash position which I would have liked to have seen and finally no where in the priorities or the release does it reference share holder value. You might think that the final point is pedantic but if its not a priority then they won't be working to improve it ?

This is quite an odd share for me in terms of the fellow holders, as it appears that there is an enormous gap in those that appear to be highly knowledgable almost to the point that they are overly complex in the way that they explain their research then get annoyed when others can't join the dots that to them is so obvious.

These are the sort of people that sit in the corner of the pub as they can't talk to anyone else