Socialgo Share Discussion Threads

[orange1] 15/7/2013 07:21

The key point is that SocialGo needs more cash but has found no one ready to provide it:

"Unfortunately in the intervening period, despite significant injections of new capital, the business, in a number of commercial guises, has not flourished and, despite various initiatives to reduce the operating cost of the Company, the raising of further working capital is now considered to be impractical."

There is nothing to suggest that it will flourish as an undercapitalised private company.

[the analyst] 15/7/2013 07:15

An interesting plan of action

Basically, nothing really changes with regard to SocialGO ownership, just that it will become a private, rather than a public company. That's not ideal and you are right, norbus, there is a risk of them letting it die a quiet death.

But at least we retain a stake - a lot of AIM Directors out there would simply have sold the company to themselves, rather than give all shareholders a stake in the privately run company.

Can SocialGO run at break-even without the costs associated with being a listed company? I doubt it. Presumably it still need the Catalis agreement.

Investors also get a few shares in a shell - I'm not not too excited about that, but I guess it could be worth a few extra quid one day.

[solarno lopez] 15/7/2013 07:04

Looks good to me

[still waiting] 15/7/2013 07:02

so a m.v of £1.00

nice.

[knigel] 15/7/2013 06:52

You got it spot on. Hopefully ASTA soon :-)

[cliffpeat] 15/7/2013 06:47

Fletch - are you saying you were right all along?

[knigel] 15/7/2013 06:46

No longer a shareholder here but sorry for those who held on. Two points 1) 75% approval needed at agm might be difficult 2) smaller shareholders barred from taking up new shares at 0.05p. This happens all the time on aim

[norbus] 15/7/2013 06:22

Spoke too soon ; .. I would rather SGO fought to deliver what was promised. Instead, if left alone, it might go under a shadowy transfer, having bored the pants out of Dominic.

Maybe a few of the shafted bigger holders , TA, WT, N, can buy it to effect the TA/WT roadmap, bring the old techies back and get it to work. Alex & Dom, and the rest of the non performers can go away as they are diluted out.

The boys buy 45% of a convenient quoted entity for £200000, and walk from their responsibility cheaply.

[stooshe] 15/7/2013 06:19

An 80% discount! That is shocking sorry for anyone in this.

[norbus] 12/7/2013 08:58

TA

Thanks for that . encouraging.