Member Info for WongaFC

I assume you already held shares Bryan? If not, you wouldn't have been able to participate.

"If it were a football team, he would have been sold last season."

Joe, managers tend to be sacked, not sold. Do you think another company would actually buy him? Fortunately for him, we are not in the football business or he would have been history years ago based on lack of results!

AKHM "Surely news on the fuel supplier is soon!"

Depends what you call soon? Our BoD's understanding of soon/imminent, seems to be vastly different to mine. Fuel supplier announced before or after end Q3, your guess is as good as mine.

Corporate greed at its finest!

There is much outcry around Oil/Gas/Electric profiteering and the associated corporate greed but at least they are making profits, unlike our lame duck BoD.

So if they do make some tangible progress and the SP rises, they will fill their boots with cheap shares, which they will no doubt sell for a profit, increasing their already huge remuneration and hampering SP growth.

Shameful

As another weeks is almost by with more nothingness, I doubt very much the Morocco trial will be completed in August. In fact I remain sceptical it will ever be a successful project. Call it a hunch....

Fair enough DoN, let's see where we are end August.

Campaign/Drought/Glycerine supply/Component Failure/Buoy/Electricity Bill, yadda yadda yadda.

If only we were as good at signing commercial contracts as we are at excuses!

Well, looks like another month slips by without any tangible progress. Yes there should be plenty of updates in August but history suggests things will slip again.

If as we have been told many times, the Moroccan client is "very keen" then resumption and completion of the trial would have taken place by now. Until a contract is signed I will remain sceptical of the client's commitment. Still, another month's salaries will have hit the staff bank accounts, so onwards we go....

We are evidently at the whim of the client. I think from memory Jason hoped the trial could recommence in June but that has obviously didn't happen. We were then told it would fit in with client needs and campaign schedules, so like everything else, how long is a piece of string???

I seem to remember, (way back) mention of a £200,000 fee for completion of the Moroccan Industrial Trial. However that agreement may have been superceeded by a newer one??

IIRC the much anticipated Utah Board hearing is end August

I said there would be very little chance of the full take up, do I win?

Better than someone else, who on the day the OO was announced said;

"The funding will IMVHO no doubt be massively over subscribed just like previous funding, because a lot of investors will try to get more of the stock than just their dilution, as getting more of the stock will bring their average price per share down."

And

"This 30% drop I'm sure will be history once the money is in the bank, and the share price goes up again as we are fully funded and approaching the Morocco trial."

So much for his "big shareholders" who we were led to believe would come to the rescue???

Stockcheque, why, when I said "you know who", did you automatically assume I was talking about you?

Stockcheque, I'm not referring to the "guess the %age sweep predictions" but you have been prattling on about the OO being oversubscribed since it was announced. Problem is your prolific posting habit which would take too much time to revisit. However, as an example I randomly clicked on a back page. Funnily enough your post was on top and part of it said;

"A lot of people don't give a hoot about the difference between 1.25p and 1.22p on the open market, what they care about is the millions of shares they already own, about protecting the value of those shares buy buying the offer stock and funding the company through to profitability. If people want to write off their small holdings in QFI that's up to them, but bigger investors will be looking at taking up larger allocations to ensure that the company is fully funded for the big push with Morocco, Utah and MSC."

Pretty strong statement saying bigger investors would ensure the company is fully funded, when it clearly has not been.

Not in the least bit surprised despite you know who's insistence the OO would be over-subscribed. Clearly the majority of LTHs have had enough of their failure to deliver and are fed up of them lining their own pockets on the back of shareholder investment.

Their reluctance to back the offer with substantial cash as well as failure to even consider a part-salary deferment until in profit, shows their greed.

Oh well, they really need to get their fingers out now before their gravy train hits the buffers. I remain hopeful but certainly not confident....

Yes, but obviously you don't understand how the SETs market operates.

As ahs been said on here many times, for every buy there's a seller and vice versa. You may have bought today but your buy might have been filled using a sell order placed days or even weeks ago, hence your buy is listed as a sell as the sell order was in place first.

I put a sell order in @ 1.25p a few days ago with a view to buying back via the offer. Obviously no one "bought" my sell order which I have now cancelled. Had the SP moved up significantly and someone "bought" my sell order, it would still be listed as a sell, regardless.

If that's the case Stockcheque/Haggis, why has Andy Morrison needed to take placing shares, when he could have applied in the OO?

Another way of looking at it is; buying on the open market is effectively propping up the SP and with it the MCAP of the company. Buying the offer is giving money to the company and we know where that will end up, primarily in the big earners bank accounts!

I've made no secret of the fact I have 7m shares, even at todays pathetic prices that's well over £80k, hardly taking the "cheap" option, Stockcheque!!

I have more than enough exposure here and while, obviously, I sincerely hope the company succeeds, there is no guarantee of this happening.

Bottom line is, I don't want more shares! Also, I am not going to sell @ 1.19p just to buy back @ 1.25p, costing me the thick end of £500 for the same shareholding.

I'm willing to take my chance that the company will improve things within this new cash runway, however long that may be??

Well I decided to take up my allocation if, (AND ONLY IF), the SP bid is above 1.25p so I can sell and buy back through the offer. Not much chance of that happening now by the look of things???

Judging by sentiment on here, I think the offer may succeed although the forum poll might indicate otherwise. Will be interesting to see...