Polemos Share Discussion Threads

[tomboyb] 08/9/2017 14:34

Post 596 is fairly accurate -

I tried looking up the "current" revenues for the company and get a similar $2mill figure -

Its been going for a number of years yet to be profitable -

The single good point so far is that it is in a very hot area of cybersecurity -

Wish all holders the best whatever they decide to do -

[risk1] 08/9/2017 14:34

Rofl Fletcher you bought a pup never mind

[gheebee] 08/9/2017 14:12

Do keep taking the potion Dr Jekyll, Mr Hyde is doing a splendid job over there.

[goplmo] 08/9/2017 13:51

I am filled with Joy that you like my posts from the other place :)
Im blushing with pride.

[gheebee] 08/9/2017 13:47

I'm clearly reading the thoughts of a master. Fortunately more erudite masters are available. One such is Shylock on LSE and here is his masterpiece:

"0.035p isn't the price after consolidation - it's the price at which the deal with SecurLinx has been calculated, representing a premium to the current SP…but a sizeable discount to the share price earlier this year.

After the proposed consolidation, the share price will be 1000 times higher than the pre-consolidation price. So, if the pre-consolidation price were 0.02p then the post-consolidation price would be 20p, ie one new share would be worth the same as 1000 old ones. The actual pre-consolidation share price won't be known until the shares resume trading on the publication of the admission document, whenever that may be. Presumably it won't be published until/unless all due diligence has completed and the RTO is binding.

In the absence of any justification in today's announcement for the £17.8m valuation of SecurLinx, the admission document will have to throw some light on it. AFAICT, SecurLinx has never made a profit in 14 years, employs only a handful of people and has estimated revenues of $1-2m. It does own some IP, the value of which is unknown.

However, when SecurLinx floated on the Frankfurt Stock Exchange in November 2011, it had 5m shares and was valued at 3.25m Euros (approx £3m at today's rates). They were forced to delist a year later since they didn't meet new minimum regulatory guidelines introduced by the exchange. They have presumably issued a lot of shares since then to raise cash since today's RNS suggests that they now have over 40m shares.

I'm assuming that the owners of SecurLinx wouldn't be selling if they were about to become profitable so the new owners may need to raise more funds on AIM to keep the lights on. And why SecurLinx would be selling to an obscure little AIM company with a MC of £1m is a mystery. If their IP is valuable, why have they not been sold to a credible company with experience in their sector?

All may become clear in time…or the deal may never go through. If it does go through, it would have to rank as one of the most dilutive deals in history with the share capital of PLMO set to increase from approx 5bn to 56bn in pre-consolidation numbers. If PIs notionally own 50% of PLMO today, they would own less than 5% after this RTO - with presumably the current owners of SecurLinx looking to dump 50bn+ shares on the market at the earliest opportunity."

Well said that man! All I would add is that the controlling party of Polemos will be making sure that they aren't out of pocket. They will do this in the ways often seen with RTOs.
.

[goplmo] 08/9/2017 13:30

Its no use you bleating and crying now little chap , you should have been buying when I told you too.

Maybe next time eh!!
Save up your pocket money and wait for the nod ok.
Bless.

[risk1] 08/9/2017 13:27

And the rns was delivered on a Friday just to cheer you up

[risk1] 08/9/2017 13:26

You made squat

You are invested in a suspended stock!

[goplmo] 08/9/2017 13:24

I made a paltry £4.5k profit .........how much did you make ?

I already spent mine before I get it on crayons and Red Bull.

Whatcha gunna spend yours on ?

[risk1] 08/9/2017 13:19

Fletcher your money is gone

No clear orf!!

[goplmo] 08/9/2017 13:17

Are you a mental

[gheebee] 08/9/2017 13:11

I believe you'll find that what you've just described is the market capitalisation. Can you point me in the direction of a live market price for the poxy software company or, for that matter, this one now?

[gheebee] 08/9/2017 13:00

Evidence:

For the year ended 31 December 2016, SecurLinx reported a loss before tax of US$553,756.

[potter25] 08/9/2017 12:56

It maybe your thread Goplmo but please refrain from using bad language on public message board!

Those invested will have contacted the company and expressed there concerns, whether they have been reassured only they will know.. I suggest others do tge same if concerned..best of luck

[goplmo] 08/9/2017 12:33

THE EVIDENCE..................do try and keep up.....


7.30am 8 September 2017

Polemos Plc

("Polemos" or the "Company")



Potential Acquisition

Suspension of trading on AIM

Polemos is pleased to announce that it has entered into an agreement (the "Agreement") assigning to the Company the benefit of a binding term sheet to acquire 100% of the issued share capital of SecurLinx Corporation ("SecurLinx"), a US based cyber security company.

Under the terms of the Agreement, the Company has been assigned the rights under an Option Agreement, to acquire SecurLinx through the issuance of 50,981,941,743 new ordinary shares of 0.01p each in the Company (the "Ordinary Shares") at an issue price of 0.035p per Ordinary Share (the "Consideration Shares") with a value of £17,843,680 (the "Acquisition"). Under the Agreement, the Company has also agreed to advance a loan to SecurLinx, totalling US$500,000 (the "Loan"), payable in two tranches; the initial tranche of US$300,000 being due on signing of the Agreement and the second tranche to follow within 21 days. The Loan is convertible into 1,326,794 ordinary shares in SecurLinx representing 3.21% of the company's fully diluted share capital, bears interest at 2% per annum and is repayable on 24 August 2018. The Company expects SecurLinx to use the Loan funds to convert sales targets and secure new customers to grow its business.

As the Acquisition would constitute a Reverse Takeover pursuant to AIM Rule 14, the Directors have requested that trading in the Company's shares be suspended with immediate effect pending the publication of the required AIM Admission Document.

The Acquisition is subject, inter alia, to the completion of due diligence, documentation, shareholder approval and compliance with all regulatory requirements, including the AIM Rules and Takeover Code.

Key terms of the Agreement:

- subject to conditions set out below, Polemos (the "Buyer") will acquire SecurLinx (the "Seller") through the issuance of 50,981,941,743 new Ordinary Shares at an issue price of 0.035p per Ordinary Shares with a value of £17,843,680 on a fully diluted basis (the "Acquisition");

- in connection with the Convertible Loan Note ("CLN") held by Polemos in Oyster Oil and Gas Ltd. ("Oyster"), it has been agreed that, if following conversion of the CLN into Common Shares in Oyster, should the value of such Common Shares held at completion of the Acquisition, aggregated with the value of any proceeds raised from the sale of any of these shares prior to completion, be greater or lesser in value than £600,000, then the value of Consideration Shares issued on completion will be varied by the same amount, either up or down;

- the Acquisition is conditional on the Buyer being satisfied with the results of financial, legal, technical, taxation and commercial due diligence;

- the Buyer and Seller entering into a Share Purchase Agreement;

- there will be a 1:1,000 share consolidation of the Ordinary Shares in conjunction with the Transaction;

- there is a long stop date of 28 February 2018 and an exclusivity period to 31 December 2017; and

- the Buyer shall make a loan to SecurLinx of US$500,000 with an interest rate of 2% per annum, convertible into 1,326,794 ordinary shares in SecurLinx representing 3.21% of the fully diluted share capital and is repayable on 24 August 2018. The Loan is payable in two tranches: the initial tranche of US$300,000 being due on signing of the Agreement with the second tranche to follow within 21 days.

Hamish Harris, Executive Chairman commented " After an exhaustive search and investigation of a number of opportunities, we are very pleased to have found an opportunity which combines low capex, a very fast growing market, an experienced management team and an impressive order pipeline."

The Directors believe that the Transaction would be in the best interests of shareholders and further updates will be provided in due course. Whilst the Directors remain confident about successfully concluding this acquisition, there can be no guarantee that a transaction will be completed.



About SecurLinx

SecurLinx is a Delaware incorporated company based outside Detroit, Michigan. Via its subsidiary Prism, SecurLinx aims to become the leading technical and tactical provider of seamlessly integrated, affordable biometric identity management and access control systems that serve domestic and international healthcare markets and the private sector

The Company owns both patent pending technology and middleware protected by copyrights which are incorporated into its products. The Company has registered trademarks including FaceTrac®, SecurLinx™, WatchTracÔ, IdentiTracÒ, VeriTracÔ, IDTrac™, AmberView® and AmberVision™.

The company's produces middleware interface components and related data storage software used in association with all types of biometric identification, secure access control, surveillance, and document control systems that: (1) enable users to deploy any combination of facial recognition, fingerprint, iris, vein and other biometric applications in a single networked solution; and (2) facilitate the sharing and consolidation of secure biometric databases and related data from other sources. It is focused on providing this to government and medical institutions across the US as well as looking to expand in Europe.

More information can be found at: hxxp://www.securlinx.com/

For the year ended 31 December 2016, SecurLinx reported a loss before tax of US$553,756.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information, please contact:

Polemos PLC

Hamish Harris, Executive Chairman

[gheebee] 08/9/2017 12:30

Fantasy land. This company in wherever made a 500k loss last year and needs £500k to keep going. Who says it's worth £17m? ffs where's the evidence? B

[goplmo] 08/9/2017 12:13

Now................I made £4.5k free money which is fuk all for me.

How much did you make ?