Subsea Resources Share Discussion Threads

[p3dr036] 04/3/2008 18:38

Goodnight SubSea!!

[8trader] 04/3/2008 16:44

Unfortunately he wasnt holding any, he dumped a small amount while
in full ramp mode a few months ago.

Everybody remember the name "tryinghard2"....ignore or filter.

[riverdiver] 04/3/2008 16:35

Suspension

[gengulphus] 26/2/2008 19:46

Note that if you want the CGT loss, it's significantly less hassle to sell the shares while they still can be sold than to use a "negligible value" claim later. For the former, you just calculate the loss and put it into the Capital Gains pages of the tax return concerned. For the latter, you have to submit a "negligible value" claim with the tax return (basically, a letter giving details of the shares and saying that you believe them to be of no value) and you are then in for a period of uncertainty about whether the taxman accepts the claim. (Unless you wait so long that someone else goes through the process, the taxman accepts their claim and adds it to the list linked to from . But that can take a long time...)

Gengulphus

[p3dr036] 26/2/2008 17:54

The only reason for declaring a tax loss, mandy, is if you have made a capital gain [CG] which is greater than the present CGT allowance for the year, which is £9200. If so, sell your SUB's and deduct the loss off the top of your CG to bring you below the £9200 threshold. You would have to do this during this tax year [i.e. before April 5th 2008]

However I think you may be confusing SUB with shares "of no intrinsic value" where the tax authorities agree that a share is worthless [e.g. the company has folded]. SUB is not [yet] in this category as it seems to be trading still. However, I suspect that this will not be the case for much longer and if [when] the company runs out of cash, SUB could well join the happy band of shares of no value, like Ronson or Media Content, etc!

[isis] 26/2/2008 16:05

I think they got out of their depth.

[mandy711] 26/2/2008 16:02

it is close to the end of the tax year,
should one declare subsea a tax loss, ???

[celtic_mist] 26/2/2008 13:49

Taking a long time to sink??

[8trader] 22/2/2008 16:50

This lot would have more chance of finding Maxwell then treasure !

[isis] 22/2/2008 16:44

This kind of lack of accountability and explanation of what the business did and how they threw away so much for so little or nothing is the epitome of what's wrong with the AIM market.
I don't think they ever made a penny.

A stark warning to us all.

[dell314] 22/2/2008 16:33

Well it wasn't buying an education for tryinghard2. That's for sure...

Rgds
dell

[karn evil 9] 22/2/2008 16:10

Love to know how they frittered 22.3 million in just over 4 years !!!

[karn evil 9] 22/2/2008 16:07

SubSea Resources raised £11 million through an institutional placing prior to its shares and warrants being admitted to trading on AIM on 4 November 2004.

A further £7.8 million was raised through a placing in December 2006 and a further £4.4 million in July 2007.

Company now worth £888,975.00p

[karn evil 9] 22/2/2008 16:04

..................... the Directors are of the opinion that the Group requires debt, equity or an alternative source of financing within the first few weeks of Calendar 2008.

The Board continues to work with a number of parties on approaches to providing finance and it remains possible that a transaction or transactions could be completed. However, the Board must alert shareholders that, even if such a completion occurred, it may well be that the sale of assets may well fail to generate sufficient funds to settle the bond in full or otherwise that the Company may have insufficient funds to continue trading.

[tryinghard2] 22/2/2008 15:45

upwards and onwards me hearties.

[dumbarton2] 22/2/2008 15:45

"Seabed" ...lol

[cindaraa] 22/2/2008 15:41

Can anyone please update us with the information of future directionof this company????

[tombarr] 06/2/2008 08:55

Actually, you would have little prospect of having a go at [Un]Objective Capital as they are of course heavily disclaimed. What you can do is spread the word that they are Sh8t to damage their business as best you can.

[norm4n] 06/2/2008 08:14

Ha, well put