Getech Share Discussion Threads

[playful] 25/7/2024 22:08

They continued to fleece shareholder's when salaries were obviously unsustainable and now they face the consequences as they scramble around with doors closing in their face.

I made a mistake in not pushing hard enough for Luke Johnson to take the wheel here and sadly feel somewhat mislead.

[book5] 24/7/2024 13:18

Liquidation will happen if they can’t raise a meaningful amount of cash
The collateral will not last till the end of this year

[playful] 24/7/2024 09:38

This is historically the quietest time of year so they have no hope of conjuring up a tangible RNS before the fund raise and you have to factor in they have limited authority on how many shares can be issued, so we are looking at a debt for equity element too.

It’s unacceptable in my opinion to not pull down the shutters and liquidate the business immediately knowing what they know.

[32campomar] 24/7/2024 08:57

Think that's the idea, give them breathing space until they sell (or try to) sell the house in September.

[chrisdgb] 24/7/2024 08:41

Still can't believe how they managed to crater the price here, very frustrating....Does the above finance facility solve the short term issue?

[workingfromhome] 17/7/2024 11:42

May help their short term liquidity issues ? https://www.business-live.co.uk/enterprise/underground-natural-resources-finder-getech-29552874

[32campomar] 15/7/2024 08:56

Think they've forgotten there's a placing coming !

[chrisdgb] 15/7/2024 08:48

More volume here today..........

[analystium] 01/7/2024 20:02

Saw the TR1
How are Robert & Virginia Millington of St. Leonards-on-Sea?

[32campomar] 01/7/2024 12:48

Think the market makers are going to gradually walk this down Question is who on earth is advising the board ?They have known for months cash is tight. They should have been advised to go for a placing when the share price was nearer 10pInstead we get told in the results a placing may be needed when the share price is 5p. How did they expect the market to respond to that? The whole thing is a fiasco

[playful] 01/7/2024 11:45

Highly likely to raise 1.5/2M

100,000,000 new shares issued at 1.5p

1/3 Gone immediately in fees

1/3 locked away for salary payments. Cough.. cough... working capital

1/3 to pay off bridging loan

Resulting in a return to waiting for the house to sell as the payroll drains the business and we're back to square one.

The honourable course of action would be to see the director’s falling on their swords and choosing voluntary liquidation which guarantees shareholders a fair return based on the current share count.

[32campomar] 27/6/2024 20:00

Or maybe they could buy some shares in the open market and demonstrate their confidence? I mean, if they don't see a reason, why should we ? I won't hold my breath

[playful] 27/6/2024 17:28

If the directors are confident hold a staff & investor town hall type meeting at kitson and waive 80% of their salaries for a year, who knows we might all come back but without the entrepreneurs mentality it's not going anywhere.

[32campomar] 27/6/2024 13:48

They slightly let the cat out of the bag at the end though - when they said the BOD were already putting money on one side to participate in the event of a placing.That sounded to me like there was going to be a placing. Unless it was a slip of the tongue !

[book5] 27/6/2024 13:45

YouTube Presentation is good
Thanks

[32campomar] 27/6/2024 09:38

As predicted by several on here, whether the company make it or not, the vacuum over the coming weeks (placing or no placing) means the death spiral to lower levels is a real possibility.

[zoolook] 27/6/2024 09:09

Very sad that a Yorkshire company has gone this way and sensible posters have got burned.

[playful] 27/6/2024 09:06

They can't sell the property on a sale and rent back to a tenant like gtc so that's dead in the water.

The only option that guarantees a fair return for shareholders is voluntary liquidation before they double the shares in circulation.

The sale of the assets should return shareholders circa 3p.

[book5] 27/6/2024 08:56

I am sorry for my recent bullish comments when the share became oversold. The Market disagreed with me. Hopefully, nobody bought shares following them.
I am glad a new investor has shown support and bought some shares.
Gla

[playful] 27/6/2024 08:35

Voluntary liquidation is probably the best option for shareholders now but the bod will be out of a job so they wouldn't suggest such things.

[32campomar] 27/6/2024 07:14

These are GTC's new shareholders https://constancepam.com/who-we-are/Very interesting to say the least

[32campomar] 26/6/2024 22:03

Investor presentation link from yesterday here so you can make an informed decision yourself on GTC https://youtu.be/GJQxzfXE7oA?si=xCPH2S8hvZPgDboh

[bones698] 26/6/2024 16:44

Some very deluded people here. The cash position is 0.4m they need to raise cash and in these markets expect it to be hammered and why I said 1p very likely. Anyone buying now will be sat on big losses for a long time. Watch and learn

[playful] 26/6/2024 15:42

Fast forward 6 months and TODAY…

Zero + Bridging loan on property circa 1% pm on what is probably 500K

No data sales in a whole year that merit an RNS

Heavily discounted prepayment incentives going out to subscription subscribers

2023 bod remuneration over 800K despite the share price in freefall *Almost 50% of MKT CAP*

Bridging loan being used to pay the director salaries?

Director skin in the game? ….tumbleweed rolling

Max Brouwers being flown around Europe on silly money and not producing a sausage in revenue.

MKT Cap ???