Mast Energy Developments Share Discussion Threads

[z1co] 14/12/2023 15:46

This little baby will fly waaaaaaaaay past 1p :)

[firestarter1] 14/12/2023 15:44

Lc is stretching the truth Kibo has 47% and they need to dump

[z1co] 14/12/2023 14:56

Share price looking much better now.Expect more gains as we get closer to news :)

[z1co] 14/12/2023 10:33

Upon news regarding the £2m payment the share price will rise strongly and will be significantly higher than 1p.

[z1co] 14/12/2023 10:16

The initial Interim Payment of GBP2m will be paid to the JV SPV between 15 to around 20 December 2023.

Tomorrow or early next week.

[lurker5] 11/12/2023 15:59

No change there Sammy G ! Its been the same for 12 years with anything Coezee related. He's been through evey single AIM bucketshop all of whom have tried toshake off the treacle (but describing it as something they trod in) and he's now with the last resort nomad, Mast of course went for a 'Standard' listing which doesn't need a nomad. Work it out.

[sammy g] 11/12/2023 10:06

Although this news has the potential to be positive,i am concearned about this following phrase in the statement :

" Payment of £2m will be paid to the JV SPV between 15 to around 20 December 2023, subject to signature of definitive agreements"

So we now have a NEW addition of the words "subject to signature of definitive agreements" when up to now the company have given impression its all signed off and agreed. I hope this new wording is not to enable Proventure to put a long extension on the rest of the monies due ( £3.9m ) because without that the project will be delayed and makes the £2m somewhat pointless.

Dealing with these guys is like wading through treacle IMO

[firestarter1] 11/12/2023 09:58

This stinks Louis Coetzee is ceo of kiboKibo has 47% interest in mast If he tells everyone the jv is dead and no cash coming then kibo will loseHe is pushing the truth while kibo are dumping stock then he will say nah it didn't work out

[lurker5] 11/12/2023 08:45

So £2m is to be paid to the jv - not to Mast who desperately needs it. So the original deal has been changed. Why ? - doubtless because PV has realised Mast can't deliver as envisaged back in April. We'll have to wait to see. Meanwhile the £2m will be used to get Pyebridge up and running while Kibo and Mast burn more cash (at £200,000 per month last June) and clock up another £1.2m (so far) of debts they have no liquid assets to to repay. For those who can't understand the written word, insolvency is not having the wherewithal (usually cash- not fixed or inangible assets) to pay debts as they fall due (ie within the accounting year - see last June and Dec '22 accounts and work it out). If I were Proventure, whose only venture so far into renewable energy in Cyprus was binned a year ago and can see a chance to get a one-project (Pyebridge) foothold in the UK, paying for just Pybridge looks sensible. Meanwhile Mast has no funds to get any other project ready for the jv. Work it all out.
Remember (many on these boards don't seem to realise it) the jv is a separate legal entity to Mast (or Kibo) and can keep going (if funded) even if Mast and Kibo go under. The obvious strategy for Proventure is to allow that to happen (Riverfort has a big lien on the assets and could force bankruptcy at any time) and pick up the remnants for peanuts, because no one else has shown any interest. Either way, there'll be nothing left for shareholders.

[dpr1881] 11/12/2023 06:17

Lurker You are really are twisted. My post set out the definitions of insolvency, they are not my definitions. As for calling in the receivers that it's an action taken by a lender under powers granted under a fixed or floating charge. Funny given your expertise in insolvency matters I would have thought you would have known that????

As for a short suspension while the JV is sorted out, perhaps not a bad idea, it would avoid non holders with a twisted agenda spooking the shareholders!

[lurker5] 07/12/2023 16:30

So which of Kibo and Mast will declare bust first ? My bet is both together. Look out for suspension, probably just before Xmas when Coetze will hope no one will notice !

[lurker5] 07/12/2023 09:32

Dear oh Dear. Can't even understand the figures in front of you. Nor understand the clear definition of insolvency, nor that the company itself has said as much. If it turns out that none of the 3 'hopes' in Mast's 25 Aug interims Note 4 (page 11) will happen, it will have to stop trading and call in the receivers. Item 1) seems not to be happening. Item 2) looks very unlikely (reasons below) and Item 3) has been shown to have been a myth all along. Now that 3) has turned out a lie, Item 1)Proventure - even if it goes ahead - and any other 'funder' - will extract terms that will decimate even what is left for shareholders (currently 0.4p per share even if 'projects' can be sold off in their current, incomplete and far from earning, state and before the further losses now being incurred while there is no income). Administration costs will take all the rest

[dpr1881] 06/12/2023 18:04

@Lurker5 wow! you really do twist the facts to suit your own twisted agenda! The balance sheet of any power generation company will be invested in fixed assets, therefore the statements on the kiddies board as you so rudely put it are true.

On what do you base your claims that the company is bankrupt???

There are a number of test of solvency as you well know but chose to ignore:

1) The balance sheet test

If the value of your assets is lower than your liabilities, you are insolvent. This test aims to determine whether the company’s cash at bank combined with the total value of assets gives a value that is more or less than the total quantum of its liabilities.

Unlike you the "kiddies" picked up that Mast passed this one!

2) The cash flow test
If the company cannot pay its bills as they fall due, you are facing insolvency.

Well my understanding is that with the support of lenders Mast is continuing to meet its liabilities as they fall due pending a re-financing / JV Agreement being completed.

Again Mast has passed this one!!!

By the way how is Solgenics Limited doing ??

You must be so much happier now you are locked into an unlisted company with no exit??

Nice investment! Good luck with it!!

[lurker5] 06/12/2023 17:16

Extraordinary pig-ignorance on the kiddy board. "Existing asset value exceeds the market value". Net assets June 30 were £1.5m. And even that was £4.2m of unrealisable 'fixed and intangible assets', offset by £2.7m of current debts. And with £90,000 monthy overheads and no income, that will have worsened to £3.3m of debts Mast has no cash to repay and net assets only around £1m. It's effectively bust many times over (bankruptcy is not having the cash to repay debts) with another £2m or so to get Pyebridge running. Yet current market value is around £1.7m. Kiddies on that board might, understandably, be inexperienced - But to be so ignorant of basic investment principles as to be unable to understand or even be aware of a balance sheet is almost criminally insane not to say mega-barmy.

Its obvious Proventure has belatedly realised this, and, sensibly, decided not to have anything to do with it (or at least to seriously modify any deal). Meanwhile Coetzee is whistling in the wind and lying about 'alternatives' so as to bamboozle the remaining lemmings not to jump ship. Only the rats will be left - to drown.

[lurker5] 05/12/2023 17:18

He's bust and desperate. Shame doesn't come into it. His entangled houses of cards have started their collapse.

[lurker5] 04/12/2023 19:01

Good to know what 'facts' you want spelled out Twangers. They're all there in the sources I mention. - incl the amount still to be spent on Pyebridge which I spelled out here a bit back and the lack of cash to do so in the accounts.

[guitars4stars] 04/12/2023 15:26

Now that one I like & absolutely agree withGo easy on yerself though fella as life is for living

[lurker5] 04/12/2023 15:02

Einstein found the universe explicable. But he thought stupidity was inexplicable, and recommended it be studied. His successors would find a lot of evidence on here and LSE

[guitars4stars] 04/12/2023 14:48

Oh dear no expanded post just added hearsay especially as I am a non smoker my friend Try focus & not distract Now back to my last post & question Maybe I will listen more if your writings add up outside of hearsay or bitterness Best as alwaysBack today from a holiday in Egypt by the way never been before yet liked it lovely people crikey Manchester was cold at 4am this morning afterwards though

[lurker5] 04/12/2023 14:36

I thought you were beginning to show glimmers of sense Twangs. Was it the weed again last night ? Hearsay is what the clappies (and you) seem to be going by. I go by all the published financial information and statements by the co. You could too if you bothered to read them.

[guitars4stars] 04/12/2023 12:29

You talking hearsay or actual fact LurkerPlease share facts relating to your stoking an agenda post you just a moment ago wrote Facts rather than hearsay do actually seem to be missing which is not like youTIA