Minoan Share Discussion Threads

[pj 1] 02/4/2020 08:28

One of the advantages of a Bulletin Board is the ability to look back at reporting times/ RNS to gauge sentiment and where the Co was and is hopefully going .

Going back trough MIN I hit you in the eye that nothing has changed in 1 2 and 3 years, and no doubt much longer.

I class myself in this, and am trying to learn from it. But the comments every year are from the same posters saying exactly the same things. Have a look.

The only thing that has changed is the increasing dilution and declining share price.

What an expensive lesson we are learning.

[justjill] 02/4/2020 08:19

Does anyone actually know if we are still "in business"?

This lot have shown too much contempt for shareholders already, you couldn't be sure they all haven't simply packed up and walked away and handed the whole shebang to Zac.

Other companies have been putting out COV trading updates. Yet our so-called managers haven't even met the big broad deadline of "first quarter" to update on what is supposedly going to be major transaction.

Any update would have at least shown some self-respect and respect for the promise they made.

[wi1l] 02/4/2020 08:17

All very valid points atlantic.

The window of opportunity was briefly opened late last year but that opportunity not grasped by the looks of things.

There's an agm coming up soon although how/when it will be held? can it be done on-line? If yes, maybe you would like to voice all your valid questions to CE - at the end of the day the buck stops with him & the rest of the BoD.

[pinkfoot2] 02/4/2020 08:08

It’s never been in CEs interest to expose the value of WIP to full scrutiny.Why?Because the supposed gap between WIP and the share price creates the illusion of hidden value, facilitating multiple fund raises to allow him to take his near 30 year annuity.

Utter tosh-the auditors should be having a good look at themselves and I will be asking that amongst other things at the next public meeting

[atlantic57] 02/4/2020 07:57

Will I like your style.You are a man of detail and therefore I have great respect for your posts.


However surely even the most optimistic poster must realise that there is something fundamental about the detail of this project which prevents third party developers from taking this project forwards.

It must surely have been noted that the bod are unable to keep the most basic of promises ie updating a web site providing an update on the December negotiations in the first quarter of 2020.

Any reasonable person would conclude that this is and has been a lyfestyle business for the directors.

Your description of the land would imply that developers would be+busting a gut to get
Their hands on it.

You can be sure of more dilution and warm words from the Bod but absolutely no evidence that they are making any progress in unlocking the balance sheet value.

The auditors report will make interesting reading.

[wi1l] 02/4/2020 07:30

Oh ye of little faith!!
Can't say I've got much left myself but it could be far worse.
The asset they hold is ten miles of land in Crete with PD for outline planning permission that cannot be revoked. It is land which wont succumb to the Coronavirus epidemic.
The T&L business was sold last year.
50% at least of the shares are tightly owned FWIW.
There ARE reasons to be hopeful:
1)……
Can I come back to you ……...

[daicaprice] 02/4/2020 07:20

Are they ever going to tell us anything?

DC

[pinkfoot2] 01/4/2020 11:42

Just an observation!

[atlantic57] 01/4/2020 11:34

Pinkfoot there is zero prospect of that !

[pinkfoot2] 01/4/2020 11:11

Exercise their options to put money in the company-

[uncle andy] 01/4/2020 10:49

6 this is going nowhere, we are broke

[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.