JackJ, what really needs to be done is to cut central costs and end the gravy train but I've seen no evidence that they intend to do that either now or in the future. They're looking at further dilution in the hope they can muddle through until things pick up. If I was still in I'd sell out now before the placing because IMO it's only going to get worse. |
How about "Cee Ourselves Right" otherwise known as COR(Blimey)PLC.
This has a Dynamic and Synergy that should appeal to our "beloved board".
Never in all my years investing have I seen such "incineration" of shareholder value, whilst (so called ) Management (former and current)reap ridiculous rewards, at shareholder expense (funded by an overdraft). |
Would have made more money investing in seasicksteve tbh . Good old British management , how to mess up everything |
They should consider a new company slogan:
SeaSick |
They should consider a new company slogan:
All at SEA |
I remember 80p. I remember buying some (idiot).
Not surprised at the results, what a shambles. |
It did hit 80p at least ht in the following years , now though it's never likely to trouble 8p tbh this lot really are awful |
bones698. Your posts 171 & 172 were spot on. |
6p now. Chart horrid. Sub 5p on the horizon. Sub 4p? Possible, IMO. |
"we anticipate a return to profitability in 2016."
Although out of this a few years now...but like to look in now and again...I have, some where in my possession, a circular from S.Remp, from the RAMCO days, asking us shareholders not to sell out in a take over deal at 57p, so we didn't.....and the share price went down hill after that...that's why I wouldn't put any credence in promises made by the bod. There's not a company on the AIM that fails to promise 'jam tomorrow' |
The dragons wouldn't be able to see Sigsworth. He was known in a former role as the invisible man, apart from when he was driving his beamer home ; ) |
This line in the half yearly report actually made me laugh,
"we anticipate a return to profitability in 2016."
Clearly I blinked at the wrong moment and missed SEA's earlier profitability... |
ROFLMFAO!! |
I'd love to see the SEA board stand in front of the dragons and pitch..
JAW: 'Hello Dragons, We are SeaEnergy.. a few years ago we sold some wind farm licenses for £30m and had about 5 strands to the business all with huge potential. We also had the opportunity to sell our oil/gas interest for tens of millions but decided to watch the value fall to next to nothing. We also gave away a big potential asset as a farewell present, as well as £2m cash, not forgetting the £7m cash we gave away to short term market traders as a tender offer. After buying a camera for £10m two years ago I am pleased to say that with everything considered, our company is now worth just under £3.5m and is falling daily. Thank you for listening'
PETER JONES: 'You've got to be joking?! and what do you pay yourselves?'
JAW: 'I'm on £175,000'
PETER JONES: I'M OUT' |
Phil the tend to just write it off against tax losses when it's as bad as this . I really don't see any way back from here just a long drawn out death . The details of the fund raising im looking forward to seeing but I sudpect im in a minority as most will probably not be happy with what's to come . |
In SEA terminology, how long is "the foreseeable future"?...
"Going Concern
The Directors have prepared the interim financial information on the going concern basis which assumes that the Group and Company and its subsidiaries will continue in operational existence for the foreseeable future."
Next week, tomorrow, this afternoon?
What a POS.
Where are the large shareholders in all this who have lost a packet (on paper)? Not bovvered as creamed off more than enough already or what? |
Korki - quite.
Something I found puzzling in the accounts - they turned over £1.8m not counting £900k from ship management. Last year it was £2.5m - was that including ship management?
If so, like for like (I'm assuming the revenue from ship management was roughly the same), they're actually doing slightly better.
So probably not. |
Well, it is interesting to note that our esteemed Remuneration Committee saw fit to reward our former Operations Director, Mike Comerford a rather handsome "golden goodbye" payment of £ 228k.Paid out from our overdraft.....
Their generosity towards current and indeed former Directors knows no bounds! |
Ron yes that's pretty standard. Whatever the deal it will be done based off their recent share price so isn't going to be attractive for existing holders . It's all but said raising equity via placing reading it . They will have gone to some investment bank like lanstead and agreed in principal a price and amount . Bear in mind the overdraft needs paying off then working capital required on top . So expect quite a few extra shares to be issued
Jack this is the best share in the world buy as many as you can like you keep saying its a bargain and have for months . Please buy millions of them , I'm sure you will get your deserved rewards . Tit |
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