Iconic Labs Share Discussion Threads

[zen12] 24/2/2023 16:53

Don't think you've been tracking this, I have today. Difficult to buy and constant NTs for any sizable buys over £2k and happy to take sells and all of it in one go. So restricting buys /controlling share price So it was actually opposite, they didn't want buyers!

[dave4545] 24/2/2023 16:30

Shame the market closed there it was shifting online

Bidding well over mid price right before the close 0.0072p when mid was 0.007

[pwhite73] 24/2/2023 16:13

dave4545 - It is clear EGHOS/ICON are desperate for buyers now. They can't take the price too low as people are not interested. So they allow a few buys to come through before selling a comparable amount.

[pwhite73] 24/2/2023 16:10

Zen12 - I certainly agree they have the pedigree but the question is are they really interested in taking ICON anywhere and given their geographical spread is it not easier just to sit there and receive a monthly sub from the placings whilst eternally promising jam tomorrow.

[dave4545] 24/2/2023 16:04

late run ?

15 mil max 0.0075p which is basically £1k only

bang 75 mil sold right on cue

[zen12] 24/2/2023 15:35

The BoD certainly have the pedigree and know-how to take this there, time for BoD to show their mettle me thinks!

[pwhite73] 24/2/2023 11:33

It is possible to be in the FTSE100 one day but two things have to be in place first.

1. The company has to have a business so the FCA know which sector to place the company under - Health Care, Energy, Utilities, Real Estate etc.

2. The company cannot have the authority to issue more than three times as many shares as already admitted to the London Stock Exchange.

[maxk] 24/2/2023 11:26

It's the way you tell em Prof :-))

[different world] 24/2/2023 11:25

Another 3bn plus traded on the cards today.

Ignore the scum - we're headed for the FTSE100 one day.

[dave4545] 24/2/2023 08:48

Good old uncrossing trades

Price would actually be up now but showing still down because they crossed a little trade way higher yesterday

[chinese investor] 24/2/2023 08:45

Are ICON still in the FTSE100000 ?

Genuine Question !

[pwhite73] 23/2/2023 18:42

I agree they can't drawdown anymore from EGHOS but as I said I can't find anything that stops them from placing. Time for this lot to put out some proper corporate news or you can understand why PIs might think they're another bunch of lying scammers.

[zen12] 23/2/2023 18:10

Well as you well know 4 tranche was the last funding they could get until they publish the prospectus. So they can't draw anymore now. Something will have to give soon!

[pwhite73] 23/2/2023 13:28

Zen12 - A month has gone by since the suspension was lifted and there is still no news on the business plan. To be really honest with you I think this is simply ICON Scam MKII. I don't buy the directors on three continents rubbish. Furthermore I don't see how they can even reverse one of their companies into ICON. EGHOS and Linton Capital have enough shares where they can convert, vote out any board and install there own management team.

My view at the moment is that so long as the current board are getting paid they're not particularly concerned what happens to the share price.

I'm holding on hoping PIs who don't know what's going on will chase this up back to 0.016p then I'll sell. Of course the problem is neither Eghos or ICON will allow this to chase up without cashing in first so suppressing the share price.

[pwhite73] 23/2/2023 13:17

At the GM held on 08/12/2021 the investors gave their authority for 150 billion shares to be issued. The alternative was the company going into liquidation.

RNS 03/01/2023 - Events From 1 July 2021 through 30 June 2022:

Following several adjournments, a Shareholders' General Meeting was ultimately held on 8 December 2021 for shareholders to vote on the meeting agenda that was convened on 20 May 2021. All resolutions were passed and involved the ability of Iconic to allot shares and finance the Company as set forth below:

Resolution 1: This authority is for relevant securities up to an aggregate nominal amount of £692,246, is in addition to any existing other authorities to allot relevant securities and expires on 14 June 2026.

Resolution 2: This authority is for relevant securities up to an aggregate nominal amount of £807,754, is in addition to any existing other authorities to allot relevant securities and expires on 14 June 2026.

[zen12] 23/2/2023 13:07

There is no way company placing down here, without prospectus and solid news this wouldn't wash with any investor.

[pwhite73] 23/2/2023 12:27

dave4545 - Yes it probably is EHGOS but it can also be ICON doing a placing or it can be Linton Capital (DS) converting their £750,000 secured note. Whoever it is or whoever they are it makes it nigh impossible for PIs to hold onto any gains.

This is why I say if you're in pre-suspension then hold as BIG NEWS can drop anytime otherwise you risk losing more if you top up at these lower prices. And don't be fooled into thinking the smaller sells are all PIs they are more likely to still be the MM for EGHOS or ICON breaking up their large sells to make it look like PIs taking a profit.

[dave4545] 23/2/2023 12:22

They seem to be working a 50 mil block seller, everytime somebody buys a reasonable amount they let out a 50 mil block.

Guess that is seller you mention on here ?

[chesty1] 23/2/2023 12:17

PING! Game on.

[pwhite73] 23/2/2023 12:16

parv5 - I kind of agree I haven't a clue but know BS when I read it.

RNS 20/02/2023 - "With Iconic directors now in the United States, United Kingdom, and Europe, we are well-positioned to maximize our potential for value creation."

Why would the presence of a director be required in the US, Europe and the UK unless ICON were planning to be an international concern?. And if they were planning to be an international concern why can they not find the miserly £115k to take a global enterprise out of a CVA that's not due to end until April 2023.

RNS 02/02/2023 - "Firstly, to fulfill its obligations under the Company Voluntary Arrangement ("CVA"), Iconic still must make two cash payments of £50,000 each for the months of February and March, and then a final £15,000 payment for April."

[oliversanvil] 23/2/2023 12:13

" I might change my mind tomorrow." Are you a women ?

[zen12] 23/2/2023 12:10

If we all got it right all the time, then won't be all millionaires by now lol...!

[parv5] 23/2/2023 12:06

Wait and see you have not got a clue PWhite

[pwhite73] 23/2/2023 12:03

parv5 - Yes that's if it goes up from here but I am slowly coming round to the belief it won't and that my earlier critics were correct.

It was EGHOS and nobody else who put up the money to take the company out of administration as they were trying to save money they had already lost to the previous management. In order to get the previous management to agree with the CVA ICON were forced to issue a statement exonerating the previous management of all blame and wrong doing. This was a management drawing over £1 million a year in salaries on turnover of just £2500 and still claim they were owed £4 million at the time of administration.

So where does the current management fit in. They are quite happy with events as the relist hasn't cost them a single penny, they are receiving funds from EGHOS for working capital which obviously includes their wages and I suspect they are part of the preferential and critical creditors who haven't been paid since June 2021.

So where does this leave PI shareholders? - Awaiting a phantom RTO which I am beginning to suspect may never materialise. But that's just me as of now. I might change my mind tomorrow.