Iconic Labs Share Discussion Threads

[bionicdog] 20/10/2023 09:22

It certainly is.

[chinese investor] 20/10/2023 08:28

Good Morning !

[kemche] 19/10/2023 17:29

I'm very happy.

[oliversanvil] 19/10/2023 17:24

Not particularly happy today .But a very happy patient investor .In any event Stockmarket down--MMs taking advantage. of most shares/stocks.!

[katsy] 19/10/2023 16:18

Looks like this still in death spiral finance mode. It's gone from 4.6m to 7m shares post consolidation and 31p down to 8.75p. that's quite a shareholder wipe out. I bet those who bought at 15p last week are happy.

[kemche] 19/10/2023 11:22

CI - filtered!

[kemche] 19/10/2023 11:18

Turnaround specialists soon then whoosh. By the end of September.

[kemche] 19/10/2023 11:14

The talk at Rules naturally turned to ICON..........

[kemche] 19/10/2023 11:13

I continue to average down pending the appointment of turnaround specialists with the backing of banks (plural).

[pwhite73] 19/10/2023 11:03

They have the authority to issue only another 8 million shares. At 8.50p that's £680k. Unless the share price rises substantially they cannot meet their £1.5 million obligation to the EHGOS and Linton let alone access to the remainder of the £3 million facility which is about another £2 million. At 8.50p there is also a 20% conversion penalty fee.

Something has to give soon. Either suspension or another GM to reorganise the share capital base and seek authority to issue even more shares.

Be careful.

[bionicdog] 19/10/2023 11:03

Thank goodness I didn't buy.

[pwhite73] 19/10/2023 11:02

They have the authority to issue only another 8 million shares. At 8.50p that's £680k. Unless the share price rises substantially they cannot meet their £1.5 million obligation to EHGOS and Linton let alone access to the remainder of the £3 million facility which is about another £2 million. At 8.50p there is also a 20% conversion penalty fee.

Something has to give soon. Either suspension or another GM to reorganise the share capital base and seek authority to issue even more shares.

Be careful.

[chinese investor] 19/10/2023 11:01

"On 28 September 2022 Iconic entered into the Financing Facility with EHGOSF. The Financing Facility can be drawn down in up to 14 sequential tranches over a maximum period of 18 months and each Note has a duration of 24 months as from its date of issue.

Under the Financing Facility, EHGOSF will provide Iconic with up to GBP3 million by subscribing for up to 3,000 Notes, each with a par value of GBP1,000, convertible into new ordinary shares in the Company, with Warrants attached.

For the period ended 31 December 2022, Iconic had drawn down a total of GBP550,000 in three tranches under the Financing Facility (minus GBP30,000 from the first tranche of GBP250,000 for fees to EHGOSF) and issued a corresponding 550 Notes along with warrants.

The funds that the Company drew down from EHGOSF were used to meet its obligations under the CVA as well as pay operational expenses."

[chinese investor] 19/10/2023 08:27

It'll be 9.25 @ 9:25 !

[terminator101] 17/10/2023 10:39

Already a penny share again huh. Bring more gerbils.

[chinese investor] 17/10/2023 09:16

This doesn't look good !

[pwhite73] 17/10/2023 09:08

And to think it was only Friday people were buying as high as 15p in the believe now that the CVA had completed and historical debts settled it onwards and upwards.

The trick was the company used the term 'historical debts' not 'all historical debts'. So debts owed as management fees and to unsecured creditors were settled as they count as historical debts. The £1.5 million of debt to EGHOS and Linton is still outstanding according to Companies House and becomes due now that the prospectus has been issued.

As there is a conversion fee every time EGHOS convert at the nominal price of 0.10p when the share price is lower there is no need for the company to reorganise the capital base, just stick the fee on the shareholders credit card.

[katsy] 17/10/2023 08:45

Oh look pwhite was correct yet again, makes the witch hunt on him the other day look foolish. The tampers here are either in on it or just behave like a pack of dogs with a herd mentality as they're just too stupid to think for themselves. Oh look since consolidation the share count has gone up maybe 75 percent.

[pwhite73] 17/10/2023 08:38

RNS 17/10/2023 - "The Conversion Notice also included a Conversion Fee, payable under the financing arrangements with EHGO, in the event that the price at 90% of the Lowest Closing Volume-Weighted Average Price during the applicable pricing period falls below the nominal value of the Ordinary Shares. The Conversion Fee has been satisfied by the issue to EHGO of an additional 160,090 Ordinary Shares."

EGHOS sells push the price down below the nominal value. They then hold the company responsible for the falling share price and demand a conversion fee.

This company is no more than a stolen credit card before the bank (FCA) puts a block on it.

AVOID

[pwhite73] 17/10/2023 08:37

RNS 17/10/2023 - "The Conversion Notice also included a Conversion Fee, payable under the financing arrangements with EHGO, in the event that the price at 90% of the Lowest Closing Volume-Weighted Average Price during the applicable pricing period falls below the nominal value of the Ordinary Shares. The Conversion Fee has been satisfied by the issue to EHGO of an additional 160,090 Ordinary Shares."

EGHOS sells push the price down below the nominal value. They then hold the company responsible for the falling share price and demand a conversion fee.

This company is no more than a stolen credit card before the bank (FCA) puts a block on it.

AVOID

[pwhite73] 17/10/2023 08:20

With historical debts cleared what's the £100,000 to EGHOS for?

This is the £750,000 ICON owes to EGHOS as part of the CVA. When will the Linton Capital conversions for another £750,000 kick in?.

AVOID.

[pwhite73] 17/10/2023 08:19

With historical debts cleared what's the £100,000 to EGHOS for?

This is the £750,000 ICON supposedly owes to EGHOS as part of the CVA. When will the Linton Capital conversions for another £750,000 kick in.

AVOID.

[chinese investor] 17/10/2023 08:12

I know of 3 - there may be more !

[russell crowe] 16/10/2023 19:33

Goodness - how many avatars has that idiot Chinese Investor got ?