Iconic Labs Share Discussion Threads

[pwhite73] 09/2/2020 10:55

So what's a lie? The fact that the 30% reduction had nothing to do with the original £1.375 million loan.

Anyway investors and the markets have had time to digest the worsening death spiral RNS over the weekend. If there is no progress news before the markets open on Monday I for one am expecting a big drop.

[fsa15] 09/2/2020 10:29

Had enough PLies73.


FILTERED

[still waiting] 09/2/2020 10:19

Exciting times, finally.

[pwhite73] 09/2/2020 10:18

So back to my original comment. ICON have discretion on any draw downs over the £1.375 million already borrowed but until that is cleared it is EHGOS who will decide when to convert the loan to shares.

[pwhite73] 09/2/2020 10:14

bernymadoff - "EHGOS have reduced the amount payable by 30%. So the £1.375m outstanding is now £962,500."

Wrong again. There were two agreements ICON entered into with EHGOS. There is the Deed of Issuance entered into on 06/08/2019. This was the £1.375m they have drawn down which has to be paid back in full. There was also the Deed of Settlement it entered into on 05/08/2019. This was an agreement to issue 237,827,207 shares to settle in full previous monies owed to EHGOS dating back to when ICON first starting using them. The shares could not be issued due to the share price being below the nominal value.

The 'Deed of Issuance' and the 'Deed of Settlement' are two completely different agreements. It is the Deed of Settlement that ICON has agreed to reduce by 30%. You posted that part of the RNS yourself. Now here is the part that discusses the Deed of Issuance.

RNS 07/2/2020 - "On 6 August 2019, the Company announced that it had secured further financing from European High Growth Opportunities Securitization Fund ....for a gross amount of up to £1.375 million, which would provide the Company with capital to continue to resolve the outstanding legacy issues associated with the previous operating stem cell business, fund the cash consideration elements for the acquisition of Social Alchemist and for general working capital purposes. This involved the Company entering into a deed of issuance with the Investor ("Deed of Issuance").

Now here is the part that discusses the Deed of Settlement.

RNS - 07/02/2020 - "The Company also announced on 6 August 2019, that it had agreed to settle with the Investor the remaining amounts due that were outstanding under a previous financing agreement entered into with the Investor. This involved the Company entering into a deed of settlement on 5 August 2019 ("Deed of Settlement") pursuant to which the Company issued 237,827,207 ordinary shares to the Investor, with further ordinary shares to be issued once a number of conditions had been satisfied."

Now here is the part that discusses them both.

RNS - 07/02/2020 - "As background, the Deed of Issuance and Deed of Settlement were negotiated and secured in a situation whereby the Company had no other viable options for financing and urgently needed to resolve the liabilities from historic financing facilities, including penalties and debts incurred under agreements entered into by the old WideCells management team before the launch of the Company."

Now here is the part that discusses a 30% reduction in the Deed of Settlement you have already posted it yourself but I will post it again in case yorgi modifies you for talking to me.

RNS - 07/02/2020 - "The Financing and Settlement Agreement entered into with the Investor, involves, amongst other matters, the Investor agreeing to a 30 per cent. reduction of the total amounts it was owed under the Deed of Settlement."

[bernymadoff] 09/2/2020 08:13

Liar liar!

That's the old agreement. As you know very well it's been ripped up and replaced by the new one. EHGOS have reduced the amount payable by 30%. So the £1.375m outstanding is now £962,500. The company will issue loan notes to settle this debt. Here's the relevant section from Fridays rns:

"The Financing and Settlement Agreement entered into with the Investor, involves, amongst other matters, the Investor agreeing to a 30 per cent. reduction of the total amounts it was owed under the Deed of Settlement. Consequently, the Deed of Settlement is no longer applicable and all amounts due under that agreement, including the Make Whole Amount, have now been reduced by 30 per cent. and are fully dealt with in the Financing and Settlement Agreement. The Investor has agreed to settle these amounts through the issue of new notes to the Investor, with such notes to be issued on the first draw down under the Financing and Settlement Agreement."

So it's in black and white. We decide when the first drawdown occurs and it won't be until the share price is significantly higher. Roll on next week and some major deal announcements....

[fsa15] 09/2/2020 06:28

Pwhiteshyt what you conveniently failed to point out is the writing off of 30% of the original loan.

Just shows how fair, honest and balanced your points are.

Deramper of the century

[pwhite73] 09/2/2020 00:39

bernymadoff - "What people need to understand is that the timing of any drawdown is entirely down to the company."

Wrong. The initial £1.375 million has already been drawn down see the RNS of 06/08/2019. EHGOS has made additional funding available for up to £5 million. ICON has to pay back the original £1.375 million drawn down since August 2019. EHGOS will decide when the conversion takes place for this money not ICON. It is anything above the £1.375 million that ICON can decide when to draw down. The conversion and payback to EHGOS could not have taken place before the upcoming prospectus because the shares are below the nominal value.

RNS 06/08/2019 - "The Financing has been secured with the European High Growth Opportunities Securitization Fund (the "Investor"). Under the terms of the financing agreement ("Financing Agreement") the Investor has agreed to provide finance to the Company over a six month period, with six monthly tranches (a "Tranche") for the following amounts: (i) on entering into the Financing Agreement, a net amount of £225,000 is to be made available to the Company, such amount being after having deducted a commitment fee of £75,000 and also other fees and costs; (ii) on the first business day falling one month after the date of entering into the Financing Agreement, a net amount of £275,000 is to be made available to the Company; (iii) on the first business day falling two months after the date of entering into the Financing Agreement, a net amount of £250,000 is to be made available to the Company; (iv) on the first business day falling three months after the date of entering into the Financing Agreement, a net amount of £175,000 is to be made available to the Company; (v) on the first business day falling four months after the date of entering into the Financing Agreement, a net amount of £175,000 is to be made available to the Company; and (vi) on the first business day falling five months after the date of entering into the Financing Agreement a net amount of £175,000 is to be made available to the Company."

[bernymadoff] 08/2/2020 21:55

What people need to understand is that the timing of any drawdown is entirely down to the company. We are in control of when we draw down. If my spidey senses and experience are anything to go by the company will now release a steady stream of share price enhancing news before making the first drawdown. Let's imagine the VWAP is at 0.3 when the first drawdown happens. That means EHGOS will get their shares at 0.27. They will need to sell above this price to make a profit on their loan. As long as the company continues to make progress on its strategy and increase revenues we should see the share price continue to climb.

[livup967] 08/2/2020 21:50

0.10p will be the nominal value from now on then?? that is still a lot higher
than where we are now…. and in all my years of investing i have never seen
a CO with 500bill in issue the stock market would never allow that to happen
that is simple not true and is just fake news at it's best….IMO DYOR


LOL'' SW and DAT''' raising awareness indeed we could do with Phil
pumping GSN on ITV on a regular bases, revenue revenue revenue..LOL''
get notice get notice get notice LOL' it would never happen, but a good thought'''

as he has got a wife and 2 kids to think about, and how they must be feeling
now that he has come out, so i think he may lay low, for a while and let it all
blow over.. or he may let rip as he has been waiting all his life to come clean
and he is just looking for publicity and attention. with those crocodile tears...

who knows??? but he is very brave to do that with such a high profile job
not knowing what is going to happen in the weeks and month ahead….
if it will all backfire, and he will be out of a job… troubling times for him
and his family i should imagine.. ''WE WILL SOON FIND OUT''

liv..

[datait] 08/2/2020 20:09

Philip scofielf to appear on GSN helping to host the site get that up yi PWhite 🤣🤣 watch and weep as this moves sharply Monday morning and into the Penny's soon enough.

[still waiting] 08/2/2020 19:56

Not sure how much extra activity Phil Scofield coming out has caused for the lbgt community and GSN but it must be raising website awareness.

[livup967] 08/2/2020 19:04

PS'' but as investors we still need to know how many shares will be coming to market
with that deal, even though we think it will be at a higher price...
and I suppose It will all be made clear, in the prospectus...

again if J/Q think we are well undervalued, and a lot of the deals so far
at ICON has not yet been priced in by the Market, DYOR in the RNS update...

WHY WOULD HE GO FOR A BAD DEAL THAT WOULD DROP share price FURTHER THAN WHAT IT IS NOW????
I can't see him being that stupid surly???


question question question Hmmmmmmmmmmmmmmmmmmmmmmmmm say nothing'''

liv

[livup967] 08/2/2020 18:40

some good post today for and against, but this time IMO
SP will be spiral up and not spiral down... because of the structure
of the 90 day WAP been the higher price, that's different wording
from the last one with EHGO, as if J/Q expect the share price to be higher
after the prospectus is released to the market on the 28th FEB

and with 20 days to go my thought are the share price could be 90% higher
than todays price, before drawdown and EHGO conversion..
and don't forget on it's own j/q got a 30% discount in the deal
that has got to give the share price a boost also... on its own that has got to be worth
£150k or more in saving to ICON...IMO without digging into detail

J'Q already said officially in this RNS that we are undervalued by a lot?
the way he word it...

but I still feel against'' has gone too far by appealing direct to any
new investors coming in here,, that is well over the top..
without saying IMO DYOR in his post.... I told him to let by gone be by gone
the other day on the other thread, as we know he has got burnt at 0.40p
the last base.... but missing out on any big bounce could be worst...

and I said he should consider buying some at 0.065p and bottom draw them
I said you can't go far wrong LOL'' was only trying to help... as I had that
that Friday feeling there would be an update, but never know it was going
to be so good £5m funding with a share price of 0.07p that means we should go to 0.35p
just on that news the way I see it... perhaps not in one day but a slow rerate
before prospectus...

but I don't think he is going to buy at any price at all, he is just too bitter
and cannot be helped, he will moan when share price is 0.06p and he will moan when
SP hit 1p+

I will leave it at that... all in my opinion of course...
and everyone is entitled to there's, but I don't have to read it
if it get's too nasty with no foundation...

good weekend all..

liv

[chanlfc] 08/2/2020 17:49

Pwhite, what is your position in the company? I presume you have no holding?

[pwhite73] 08/2/2020 17:43

Still Waiting - "Just a bit mad in the pub when RNS landed."

In the pub 16:08 in the afternoon. What were you celebrating? How much more you're gonna steal here.

[still waiting] 08/2/2020 17:22

Just a bit mad in the pub when RNS landed.

[yorgi] 08/2/2020 17:19

Couldn’t agree more SW 😊

The Friday RNS has answered the questions we all wanted to hear.

[pwhite73] 08/2/2020 16:55

fsa15 - "and pw is the only one talking the truth here."

Yes I am. If I can convince just one investor to think twice before purchasing this stock it would have all been worth it. But I sense with the minimal reaction to Friday's RNS I have educated most of those who need to be.

[still waiting] 08/2/2020 16:46

Yorgi, I had icon down as a huge gainer for 2020.

Just starting from a lower base= larger %gains now.

I'm in for more.

[yorgi] 08/2/2020 16:45

Friday’s RNS was well received by the market that was clear and had it not been so late in the day on a Friday I would have thought quite likely we would have seen a bigger rise.

We will see on Monday how the market reacts after digesting the RNS and taking it carefully into consideration.

[yorgi] 08/2/2020 16:41

Ever since he registered on ADVFN he has spent all his time trolling with no interest in investing. Fabrications and lies are his stock in trade.

Filter and ignore.