Minoan Share Discussion Threads

[atlantic57] 01/4/2020 10:29

Ok Guys Given the complete silence from the bod we are left with speculation.

What will the next rns be.

1 ) Zachary have agreed to extend the loan to... in exchange for the issue of x warrants

2) We need to do a placing to meet certain liabilities

3 We are in talks although we cannot guarantee anything

4 We aim to update the website by December 2021

5 The next x years will be the most exciting in the companies history..

[pj 1] 01/4/2020 09:47

It's all a part of the illusion created by a BoD who cannot even keep a promise to update a simple web site, never mind deliver on a major project.

The header reflects the facts.

[atlantic57] 01/4/2020 08:51

As a result, the expiry dates of options to subscribe for a total of 11,252,136 ordinary shares in the Company at 1p per share have been extended to 31 December 2020.


Why would the directors exercise options they could buy the shares in the market for less than the option price.

If they were confident that they could sell the project on , then of course they would provide the company with the cash knowing the share price would rise.

It is self evident that the directors are not confident that can move this project on.

We await the next rns which no doubt be the details of the Zachary loan,
we are in talks ...
we need to do a placing to meet certain liabilities
The next 10 years will be the most exciting. in the companies history..

[pinkfoot2] 31/3/2020 19:05

There is absolutely no reason why they can’t exercise their share options-given the strike price is higher than market price.So if they need cash, put some of it back in!!

£50m in WIP-where’s it gone?

[atlantic57] 31/3/2020 16:25

The Corona virus will give them another excuse to delay sending accounts to Companies house.It will give them another excuse to maybe get Zachary to delay the loan repayment on terms to be announced.


However they do not seem to be able to generate any interest in this project.
They will have to keep raising confetti to meet "certain expenses". so for ordinary shareholders we are probably looking at close to 100% loss unless you bought very recently.

Oh yes we are told repeatedly that the shares are worth a multiple of the current share price
On what basis? What offers have been received providing any basis to confirm this apparent discrepancy.

[justjill] 31/3/2020 15:09

I'm sure we're all familiar with this from 11 Dec 2019:

"Whilst there can be no guarantee, we expect to be able to confirm and move forward with the most appropriate transaction in the first quarter of the New Year. We will keep the market informed on progress".

Well even if nothing has happened in the last three months, the company has just a few hours left give us an update to honour the promise. It wouldn't take much effort. So what do we think the chances are? I think you could bet your house on this one! And sadly not because it's the option we'd hope for.

We know, if needed, and they'll probably use it, but they could update and say we're not further on because of lovely Corona. So why don't they just get it over with?

Maybe we are in for a big surprise after all!!!!! :)

[atlantic57] 31/3/2020 10:46

Colin Fact and fiction at Minoan is indistinguishable .

The bod appear to be living in a parallel universe to ordinary shareholders.

[colinzeal] 31/3/2020 09:31

Merely a statement of fact Atlantic my dear.

[atlantic57] 31/3/2020 09:13

Colin Zeal. what is the problem?

The statement was just another form of what has been announced over the last 6 years.

We are in talks about talks about talks which never lead anywhere.

[colinzeal] 31/3/2020 07:44

From Dec 11th RNS: 'Whilst there can be no guarantee, we expect to be able to confirm and move forward with the most appropriate transaction in the first quarter of the New Year'. Today is the last day of Q1...

[arthur_lame_stocks] 30/3/2020 08:51

And still no announcement from the company.

[atlantic57] 28/3/2020 12:56

Certainly Will Zechary and Wilson pulled one over the bod .It is good to see that the
Universe has given some payback.You are certainly correct in saying that if we still
Had travel it would be game over.

I can see that the present turmoil may give Minoan a stay of execution in the sense that Zechary May be prepared to be more flexible with regards to their loan.

However the main issue is whether the Bod can actually attract any interest in the asset.To date the answer is no.

[wi1l] 28/3/2020 11:56

Count your blessings FWIW. They could still own the T&L business ! How times change - at the time I thought that Zachary & Wilson & his merry band of followers had pulled one over on the BoD and negotiated a good deal for themselves. But now its a completely different story and looks like the opposite applies - what goes round comes round IMV.

The current Bod are still up against it but without the T&L business there's still all to play for here (for the time being anyway).

[daicaprice] 27/3/2020 09:45

Beginning to feel like I’ve now got £20k EW on an outsider, not the favourite or Joint favourite that I’ve always thought it was.
Time will tell and I’ve still got a good gut feeling somehow.

DC

[grannyboy] 26/3/2020 15:03

There's rumours that the Greek government is taking over unused sites to turn into campsites for the illegal immigrants that are passing through Turkey and into Europe ...

[atlantic57] 26/3/2020 14:49

Further dilution with Min is 100% certain.

There are endless placings to meet “certain liabilities”

What is much less clear as whether anyone has any interest in acquiring any part of
The land encompassed by our licence.

[hugothesecond] 26/3/2020 14:27

OK Atlantic see your point but even so looks like further dilution coming as a minimum

[atlantic57] 26/3/2020 12:53

Hugo with great respect we don’t know that Zechary will call the loan in and if they did how would they actually realise the cash.

The world situation is another convenient excuse.

The Empire State Building in New York was built in 1931 the middle of an economic slump.
Those guys had the confidence to spend a huge amount of money on a building which many
Would have said would remain empty.

Despite vastly improving conditions in Greece as posted by many on this bb, the board have been unable to move the project forwards for reasons which they alone are aware of.

[atlantic57] 26/3/2020 08:13

Certain Banks are requiring personal
Guarantees for any government loans that are being given.

[yorgi] 23/3/2020 12:30

I see we have a couple of buys this morning even if pretty insignificant in monetary terms, but better than see more medium to large sells.

[pinkfoot2] 21/3/2020 20:47

I’ve been asking that question for years-the valuation much trotted out on here by the disciples is 9 years old and a lot of water has passed under that bridge.The gulf in market cap to WIP must be, in Trump words,’the biggest ever in history’

Basically, where has the £50m gone?

[atlantic57] 21/3/2020 18:52

Pinkfoot the Directors have made very clear unambiguous statements in the accounts.
The auditors will soon be asked to sign off the accounts.

I would be very interested in how the Bod are able to convince the auditors that the disparity between market cap and valuation is so great.

[pinkfoot2] 21/3/2020 18:36

Yes Atlantic-the old chestnut of WIP.The auditors must surely need evidence of value.I myself would like to see how much CE and associates are in the number stated.It can’t be anything other than professional fees given they don’t own anything other than an Agreement to Lease-at a future cost of £4m?plus royalties?

[wi1l] 21/3/2020 18:34

Four of the directors are chartered accountants Atlantic. They should at the very least know what needs to be done to ensure the auditor is comfortable with their report.