RE: Brief summary of RNS's for fun15 Oct 2019 11:21
OK, i stand corrected by your comments, (for which i thank you) but, i still think, this is a dire business investment and YES...i am invested (or deluded or whatever you want to call me), but, you get my point.
just for fun, to save you time and effort, here are some of the salient points of the RNS's….
30 Nov 2017 - 80,000,000 shares issued at 1.25pence per share to raise 1 million quid - total shares apparently 263405413 - consolidation must have taken place shortly after this (feel sorry for the poor investor)
15 Dec 2018 - 1,000,000 shares issued at 5p to raise 80,000 quid 4 May 2018 - 47,500,000 issued at 2p to raise 0.95 million quid 14 sept 2018 - 76,666,666 issued at 1.5p to raise 1.15 million quid 21 feb 2019 - issue 83,333,333 at 0.6p to raise 0.5 million quid
26 Apr 2019 - subscription agreement (which went **** up) added 71,000,000 shares at 0.6p for 333,ooo quid - this was eventually terminated and the poor souls settled for worthless confetti added at 0.17p..(oh, imagine those heady days)..
13 June 2019 - 150,000,000 shares issued at 0.2p for 300,000 quid 28 june 2019 - issued 121,428,571 at 0.17p leaving 1,024,057,953 shares in total floating around…
26 september 2019.... accounts state, we only have 171,000 pounds in cash, in the bank ( last year was 590,000), we have lost 750,000 pounds and the share price has gone from 0.51 down to 0.11...
14 OCTOBER 2019 - Raise 350,000 GBP, by ISSUING 269,230,769 shares….
SO, IF, youre in any doubt as to why this is potentially a bad investment…. just a quick read will show you why. (all points from the RNS board). DYOR
They divide the entre share capital by the same amount, including outstanding warrants for shares. - This then allows them to raise more confetti..i mean...worthless shares, which serve only to bolster the salaries of the very obviously inept BoD. Rinse and repeat until the whole of the investment world can look back at all of the RNS that have been issued and everyone can then see what this company is about. Issue shares, raise equity, pay the salaries of the BoD and then consolidate, then raise blah blah blah. Groundhog day cometh again!
hahahaha, AerielArrow, obviously not, im just one Engineer manager in a specific team, but i have been doing this in the north sea for over 20 years. But no, not just me. i wont mention the company though. I am not criticising SOLO, i was just making a point that it seems quite small as far as reserves go. again, this is purely my own opinion. ihave been a LTH in solo, still hold, never sold, just waiting for something good to happen. perhaps this is the time. fingers crossed for solo
i think they look small also. im about to open up a new gas field…. (10 months time), 3 wells, tests indicate 54000boepd... this new solo investment, seems to have a very small potential in comparison….. Just My Opinion.
Reverse takeover……. Equity raise…….. followed by shares restructuring (read consolidation)…..wats not to love. trading suspended… I work in the North sea sector, if they are getting into ex-netherlands offshore gas, you can be absolutely certain, that it will be expensive to retrieve and if it was at all viable, then Royal Dutch Shell, would have been in there first. I AM happy, to be slated, ****ged off and criticised for my post, but, remember this day, this post. These are only my thoughts and i am probably , possibly, potentially wrong…. just my personal opinion.
IMO, these products will never see the light of day, because the BoD are successfully running this potential into the ground. to get the products to market, you need investment and to get investment you need a viable business. what the BoD have done, is milk PIs, (of which i am but one example), produce never ending confetti...consolidate that confetti and then re-issue more confetti. meanwhile, they take their salaries, the product carries on being tested and prepared and eventually, funds will dry up and so will the research. Al IMO of course
STATUS QUO springs to mind..........07 Oct 2019 13:25
Down , down, deeper and down...………………. Down down, deeper and down….. Get down deeper and down I want all the world to see To see you're laughing, and you're laughing at me I can take it all from you Again again again again Again again again and deeper and down….down down, deeper and down
Good Luck Oil_Beast…………….. i am now, 99.72% down. It would cost me money to cash in the confetti that i have left. im just watching and waiting now, knowing that this will spiral into decay very shortly. When i started watching shares on AIM some 6 years or so ago, there were 52 pages of them on the ''London Stock Exchange'' board. currently, there are only 45 pages. at 20 companies per page. I seriously think the BoD of this little pile of poop, needs to be seriously slapped (verbally of course).
What makes them suddenly think they need a strategy. My god, they’ve gone this long without one, why bother now. Why not just continue to use their current “William Wordsworth” strategy....... I wandered lonely as a cloud........