Microsaic Systems Share Discussion Threads

[pwal] 06/11/2023 15:00

Isn't there a payment scheme set up with DVRG for what they owe?

[cocker] 06/11/2023 10:11

160k left, does that include redundancy payments?. Gerry Brandon's pyramid scheme has finally come crashing down, only trouble is he has done an Indiana Jones and has escape with the treasure

[dr biotech] 03/11/2023 22:25

Sad but predictable ending. It’s never looked like turning in a profit.

[pwal] 03/11/2023 14:28

Probably give some staff new contracts in less money. Maybe Interns?

[pwal] 03/11/2023 14:18

Not sure how that works?

[babbler] 03/11/2023 14:02

Not a nice present for staff :(. Yet they remain a running business... somehow...with no staff. Game over another one gone.

[mr macgregor] 03/11/2023 13:53

There’s your answer. They could at least have saved that news until Christmas Eve. Shame on them.

[pwal] 27/9/2023 07:55

Any thoughts on how they are going to raise funds? Rights or placing?

[cocker] 25/9/2023 06:17

Well, the Leprechaun has gone to pursue other interest, pmsl. More like no company will be able to get funds whilst he is in control!

[cocker] 30/6/2023 08:46

Soul, the man is a complete and utter conman who's plan was to mug investors and to fill his pockets with their dollars all along. His blatant behaviour was brushed under the carpet by so many, even when faced with facts like "no funding needed" & yet less then 6 weeks later he asked for 2 million. Buying up related companies and pocketing over 100k and still investors believed him over someone who pointed out how wrong things were. Unfortunately investors have lost millions between them and yet he will walk away scott free!

[cocker] 30/6/2023 07:30

One perhaps would suggest GB maybe is still telling some penny punt morons that there's value to be had, can any sane person have a genuine reason to be buying

[tomboyb] 29/6/2023 15:21

DVRG now MSYS -

[tomboyb] 29/6/2023 15:02

TIDMMSYS

RNS Number : 4384E

Microsaic Systems plc

29 June 2023

29 June 2023

Microsaic Systems plc

("Microsaic" or the "Company")

FY22 Annual Report and Accounts

Further to the Company's announcement on 26 June 2023 (the "Prior Announcement"), the Board of Microsaic (AIM: MSYS) now confirms that the Company's annual report and accounts for the year ended 31 December 2022 ("FY22") will not be published by 30 June 2023, being the deadline for publication under the AIM Rules for Companies. Consequently, the Company's shares will be suspended from trading on AIM with effect from 3 July 2023, pending publication of the FY22 annual report and accounts.

The Board noted in the Prior Announcement that, as of 31 May 2023, Microsaic had GBP0.65m in cash and on deposit, with no bank borrowings. The Company also stated that it continues to meet its obligations as they fall due. In light of the challenges associated with making further recovery of the outstanding debtor balance from DeepVerge plc, and that the conversion of its growing pipeline and the speed and scale of revenue generation are uncertain, the Prior Announcement noted that it was likely that Microsaic will need to raise further working capital during Q3 2023.

The Company confirms that it is working to that end and intends to conclude a fundraising within that period, and to seek reinstatement of its shares to trading on AIM shortly aftewards, subject also to having published the FY22 report and accounts on a going concern basis. Such fundraising is likely to be subject to shareholder approval to issue and allot new shares.

Further announcements will be made as appropriate.

[tomboyb] 29/6/2023 15:02

Suspension coming -

RNS -

Delay -

[cocker] 26/6/2023 21:05

Zxie recent post 30mill and loading. PMSL

[pugugly] 26/6/2023 08:19

Given history and management how likely is it that they will be able to raise funds?

Do their products have any must buy USP'a.

or What might the company be worth to a scalper?

or anyone with a flat in Kensington prepared to take out a mortgage and buy the company? Only £750K (if ADVFN MC correct) and take private - Look what you would save on listing and brokers charges!!

and £650K in cash - but burn rate unknown -

[scalpface] 26/6/2023 06:38

Did GB have a past? He's basically destroyed 2 companies and robbed all the shareholders!

[pwal] 21/6/2023 12:18

So:Microsaic has a growing sales pipeline currently worth in excess of GBP2 milllion, over 90% of which is from customers or distribution channels other than DeepVerge.Hopefully next week's results will be favourable and positive. Smiley face.

[cocker] 15/6/2023 13:36

Looks like the big boys escaping whilst they can!

[pwal] 12/6/2023 11:05

So results on or before 30th June.Not long now.