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Starbuck, call a spade a spade. the 6 month chart has gone from .094 to .02.
There is still some light in the tunnel.
You have to remember why you invested in any shares you hold.
There is sometimes bumps in the road. Yes there has been a RNS today , but until the meeting we don't know what the plans are.
It could be that simply they want the right to issue new shares like they say. Every company that is listed on AIM has to have this option. It's unfortunate that the market isn't backing their latest efforts, has seen by the low share price .
Things could change in the future. Only last week the petrofac announcement was made. You have to give it time .
Investing can be a lonely place sometimes. Especially when confidence is low.
Over the last few months I've noticed quite some unbalanced posts. This is usually when pressure is being felt by investors. Their thought process goes irrational. It's times like that we all need to step back and think of other things away from shares. Shares shouldn't be that important to you that it takes over your entire life . ..
BM, I only invested in here a small % of my overall PF, I leave the majority to be managed by a professional. I can see why when I look at the returns he is getting for me.
There are many sides to the markets, Also I have learnt to identify the patterns that I believe those holding a CFD position take as opposed to a true Share Holder ( some might disagree on the terminology ) but it really is quite interesting to look at how some of the characters on the boards hop around.
The issue here is 2 fold, 1 those previously privy to direct contact with Alan and the constant feeding of fables that are taken in good faith and regurgitated around social media etc, I have seen these with my own eyes so know full well what Alan has said then denied saying, that along with the people that are approached to take part in a placing that decline but use that information to their advantage is what gives them an environment for them to prosper & that is what has gone on all to the detriment of the lowly PI's.
WW, glad the nuog experience has given you clarity on how ruthless this market can be, and how to avoid similar pitfalls; they can simply wipe the rug as and when they want. One of the biggest jokes here though is the so called relieving Insiders of their esteemed status; clearly those in the know are playing the game. I’m not selling any, as no point in taking the hit just in case SPV and other catalysts can move this forward. I’ve nothing against balance, and let’s face it with Nuog any good news is a bonus, but the noise from the usual suspects here is deafening.. literally as I gave them all on filter
Wobwat - i would have thought the implication of today is quite obvious.
If they announce a deal and the share price rises to 2p, don't buy because they are about to dilute you at 1p.
Adjust the prices to your own taste, but the dilution is now nailed on.
Thanks BM, what it's also taught me is the vermin that descend on these boards & the pathetic keyboard warriors who when you meet them don't have the cajones to have a robust conversation and discuss any difference of opinion in a mature manner. I have also met a couple of really decent fellow long term holders that can discuss things pragmatically and accept a different view.
Like I said in the last 2 months I have reflected on the journey here & I understand the mistakes that I have made & how to avoid them again, applying those lessons means I am starting to see a strong recovery in my overall PF.
It's quite liberating to switch off to the pathetic carry ons surrounding NUOG on a daily basis.
What’s the general consensus on how today’s news could affect the SP should a deal land before the agm?
Warrant watcher.. I think sadly you have pretty much summarised the last 18 months history here quite well. Optimistically still waiting for hopes of a deal to cross the line; question is how much more dilution by then and how long the crawl back to break even ( unless of course deal announced pre agm and placing at sensible odds from here ) anything possible in the AIM casino.
Nowt Nu.. bore off and carry on learning from someone who’s ****ged this company off non stop since doing his case here
I think that you have to look at why the events played out at the AGM as they did.
At the time the LT share holders didn't trust Minty to move the company forward, create share holder value and complete a deal while the company wanted the ability to raise at will. The general sentiment was one of varying views on the complex structure with the likes of MFDEVCO & Minty's various consultancy businesses.
The line in Garyn's last post about them " trying to be too good for their own good " really resinates to me, and it sums up Minty's approach to the company & Share holders, the only people benefiting are those taking a salary monthly.
Now all that has happened is that Share Holders are backed into a corner with no alternative to let them carry on, and have blind faith that they will manage to close a deal, but once again they have shown themselves to be what I would call incompetent in negotiating.
My whole time invested in NUOG has been a massive lesson for me in the real down & dirty tricks by the likes of Minty - who personally I feel is nothing more than a egotistical, manipulative, pathological liar. There are people that post on here & on twitter that he has fed complete lies to on many occasions that he should be held accountable for, but as they say this is the Wild West of the market.
The root cause of all of this is that Minty & co have failed to deliver anything of tangible value let alone the empty promises they've been making for god knows how long. I find myself now numb to NUOG with an investment worth a pittance from its peak but with no other option than to hold and see what transpires, but with very little real interest anymore. Other than the fact that I really do hope that Minty and the rest of his merry men do in someway feel the pain that shareholders have over the journey we've been on, especially for the ones that had their life savings wiped out at the last crash in price.
Well push, someone is going to get "minted" by the shower of s*** we call a BOD.
Will it be shareholders, shorters or just "that family"?
They have till the GM, otherwise there will be "blood on the floor" i expect.
Did you create that name as with a serious dose of humour ??
Scalpedbynuog is far more the reality.
Is this still alive ?? they still making MOU's & other such value meaningless agreements... hmmmmm
Removal of the resolution is the right thing to do.
I have been skeptical on the theory that nuog will be funded on any mfdevco deal . For reasons stated previously.
If there was a deal removal of the resolution proves that they won't be funded on any deal . Having the power to raise off the back of it seems likely...
"depending on how good the deal is it might be a case of they are stupid not to place"
What a stupid thing to say, a good deal should produce revenue to prevent the need to further dilute LTH.
Bloody sick of the uninvested BOD treating us like mugs, especially "Daddy's boy"
Only pass the resolution if Damian goes.
I believe there is a strong possibility the SPV upfront payment could take care of cash flow.....
failing that a raise at a much higher price
i dont beleive they need the funds to complete a deal.... i believe they expect to land a deal that adds significant value. whether they need or choose to place at that point i dont know, and this rns does not absolutley confirm that. depending on how good the deal is it might be a case of they are stupid not to place
It was never going to be a success in the way that it was carried out - had the open offer actually been announced alongside the placing (as I believe that it should have been) then it may have been more of a success. But I also think that had they done that then the placees might not have participated in it! I think it was a silly idea in the first place and there is good reason why other small cos don't do it - and not just down to the additional costs involved. But you also have to look at the fact that they are going against what shareholders voted on just six months ago, regardless of whether or not they were misguided in doing so (probably thought they were being too clever for their own good!). Myself and one or two others did point out on Twitter at the time that it could have implications for the ability to raise funds...
It seems MFDev are happy to leave us out of their news and tweets but when it comes to the good old cash call, they want a very open dialogue indeed.....
Sherlock you have been saying that they don't need to raise.
Mfdevco will have sufficient funds on signing of a deal . Now you say they might place off the back of one ?? .
Are you just making it up as you go along ??
Sharelock, if they need the funds (and therefore the change) for an imminent MFDevco deal (and that is the justification you are giving for today's news, even though the company doesn't see fit to mention it) then why do they need the funds from Nuog for that imminent deal? What happened to the SPV?
gary - do you think the oo has been a success and has benefited shareholders? has the time and effort of the open offer been worth while?? well seeing as we could now purcahse 50% lower than the open offer price, surely what they are saying makes complete sense and that this absolutley should be removed?
second question.... if like they have been saying with Petrofac RNS, SPV etc they are at the final stages of delivering a deal and this is due to be announced any day, whether you believe it or not assume it was the case, do you think this logical to make this change?
so if we all agree the oo categorically failed us, then we surely agree taking it away is the correct thing to do.
do you not think suggesting that they are doing this to favour the placees is the wrong angle?!
Good post Garyn .
One I agree with 100 percent.
By taking away a revenue less companies ability to raise funds . You put that company in great peril. Either the resolution goes or the listing goes.
The share holders playing god with the company has really cost them dearly. Very sad to see...
It is no time to panic just yet until after the meeting..
You could argue that doing away with the open offer will make it far easier too revert to the type of placing that we used to see here where the shares were easily flipped (often in advance) by the placees - an accompanying open offer substantially reduces the ability of the placees to do this and makes it harder to pump the share price. So you could argue that this benefits potential places at the expense of existing investors - although the same is true on the majority of other AIM cos, and at the time that this was voted in I did argue that it wouldn't work (if it did then other cos would all do the same!).