The issue now of course is as the market cap drops, the debt looms larger.I was "comfortable" at a bottom of 0.7p if clco inflated the debt away with shares - sure we would have 100% dilution but a very healthy company (from what we know) and little debt. A 5p upwards price not out of the question in that scenario.Down at 0.25, that dilution will wipe out if it happens, and I don't see many other viable options now on the horizon.Not read marks posts, my posts were always my honestly held views here and I documented all my thoughts, positive and negatively whilst publishing my trades. This will always attract the very dross of society like Markwell obviously is. I'm saddened for the people around him. |
Mr Halpin now a "Creative thinker driven by fire", according to his linkedin profile.
Oh well, at least his ego is still intact.
SCE in a similar boat. |
You're a fine one to talk purple11........LOL
Just remind me how your 2.3p PPP shares are doing?.......LOL
Simples!........;-) |
Advfn currently showing 100% spread |
Premium Beeks
o dear
youre not having much luck in this game are you?
stick to Bingo with the ladies
now pull up your pants and shuffle off ......... |
So I suppose until a new CEO is selected we will have no idea of the future direction.....which can only mean more share price falls. Surely this plays into MXC hands....they can mop up another load of cheep shares for a fraction of the cost... |
YEP mine, 100%, just like every other trade I've ever done :) |
That's a shame.Did we ever work out whose fault that was? |
Got rid of my last 400,000 at .4 this morning, nice to be free of them. |
I dunno, they seem to be doing ok out of it. A guaranteed rate of return year on year coupled with first dibs of the assets if they can't pay is not a bad place to be.Where else do you get such a return on investment?My shares got mopped up yesterday, so the "distressed" seller bit is out of the way for now. You may get a bounce back today so good fortune to all if you do! Fortune favours the brave! |
The bit I’m confused about here is that MXC are a major stakeholder and therefore all they’re doing is stinging themselves by keep lobbing on this interest it’s like they’re trying to strangle themselves. Very strange you would think at with how the company is growing positively over the last few years they would cut themselves some slack. We as shareholders need some good news and MXC are now the only ones who can deliver this. If they want CLCO to be successful they really need to stop impeding the growth!! |
deekers, your post demonstrates that you are one of the few posters here who clearly understands the financial predicament. I also don't see how the existing debt to MXC can be repaid over the next few years plus the additional new £550,000 arrangement fee.
A possible solution could be for MXC to acquire the rest of the shares at a nominal cost, restructure the company and then sell it on as a debt free operation, with the consideration offsetting a significant proportion of the their outstanding debt. Of course, to achieve this they would need to keep the business operating and revenue increasing. |
Every board member / insider except Mark, plus MXC capital (was already on the board by owning >10%) equals just over 50% of the shares who could in theory have voted Mark out. Unless I've got the wrong idea about how that works. However, I'm not presuming that Mark needed to be pushed. |
With 20% of the company still owned by him, its no surprise that he would say this
As I step down from my role as CEO, I leave with a heart full of gratitude and a soul overflowing with pride. But more than anything, I leave with the unwavering belief that the best is yet to come for this incredible company and the phenomenal individuals who breathe life into it every single day.
My question us.... when was this decision taken,he surely did not just decide this morning, and who pushed him to go!! |
The guy at mxc owns the debt, the company can't service the debt, even after being given 2 more years, without doing a large restructure even then it can't pay the debt off. I will see how MXC intends to resolve the debt issue before selling. |
That still hasn’t answered my question if the guy at MXC is now standing in to find a suitable replacement why would they not make it successful? Otherwise, they risk losing the lot which I can’t see happening. Also no talk of anything negative why mark left only positive and could be for a number of reasons, also no talk of him selling up his majority share either, keep the faith ppl let’s see what MXC can pull out of the hat :) one announcement with a proven track record CEO or buy out offer and everything will turn around very fast. |
Why would they go bust? That means MXC would lose the lot and makes no sense at all |
I'm probably gonna hold and hope that the new tax tear is sparking a bit more IT spend, with inflation off the boil too. |
PB - Sorry to hear of your loss, i've got a tiny position myself, got rid of 100,000 at .6 this morning. I've already written them down to .25 in my accounts (I mark to market every day) so don't care much about the rest. If they rally a bit I'll sell if they go bust so be it. |
I’m staying in as well I can’t believe that MXC will just let this go to the wall. It only takes one piece of news to turn this around with a well experienced CEO. Sometimes the entrepreneur can only take it a certain distance before someone else with different skills takes over. Has mark actually left or just stepped down? |
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