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[bagpuss67] 10/4/2024 09:22

Know Shiel Road well Cash?

[casholaa] 10/4/2024 09:20

Dilution-free fundraising is possible not too far away, over in the finance/commerce area of Shiel Road.

[bagpuss67] 10/4/2024 09:20

Bones you don't know what if anything they have yet drawn on the capex line and the capex lenders attitude to a security carve out to enable an ID line or ABL facility.

[bones698] 10/4/2024 09:20

The risk now is losing customers which would be a death blow imo. If I were a customer of sce I would be seriously looking at alternatives. I raised this month's ago and got shot down by the raampers How silly they look now

[amt] 10/4/2024 09:19

We have seen this pattern before and it ends up with a placing.

[bones698] 10/4/2024 09:18

Hasx they already have a loan outstanding for the new furnaces. Assets are shrinking in value by the day and considering how much they are likely to need to raise there aren't many options that will fit that won't impact longer term. Wait for them to announce the funding as it will be likely south of here

[yasx] 10/4/2024 09:14

Reviewing options to address a short term financing need does not necessarily translate to a placing - there are other mechanisms that can be utilised. Might be worth a punt here at 5p since the fall after the announcement yesterday is perhaps overdone.

[bones698] 10/4/2024 09:13

It's not even that although the one in suits are the ones to blame for sure. Engineering issues and production issues can be resolved with the right focus and team in place of they are given the backing. What's happened here is the Bod ar etotlaly disconnected from what's happening on the floor and not delay with issues effectively. Plus if you pay peanuts for engineers you get monkeys

For me the fcay they haven't upgraded their website showed da complete lack of effort and professionalism from the Bod, its all down hill from there

[gripfit] 10/4/2024 09:09

Clearly too many people in suits ,, not grafting on the shop floor ..

[bagpuss67] 10/4/2024 09:05

Well the potential customer is surely parked/ lost now. Existing customers must be fuming at the revised schedule only "broadly" being met. I guess SCE had committed to deliver that after thinking carefully about what they thought was achievable

[amt] 10/4/2024 09:02

They didn't mention how much cash they have left which was not sensible

[misterd1] 10/4/2024 09:01

Can you imagine the discussions in the customers/potential customer boardrooms?

Common sense says that they will have more than one choice of supplier - and the absolute shambles they have seen here will surely drive them into the alternate suppliers hands (ahead of the rush as well, no doubt)

Personally, I fear there's a lot of bad news in the pipeline which in my eyes could only be really settled by a takeover bid - and given the price/opportunity is why I'm still holding

I can't really see any other exit out of this mess

[bones698] 10/4/2024 08:53

Amt yes and even then dare you invest at that price knowing how bad the management have performed here.
That's the first hurdle To overcome but 5m won't do much for them look at what they did with 10m in 5 months. Until they stop the rot it's u investable

[amt] 10/4/2024 08:52

Investors selling to have money ready for the next cash raise. At this rate its going to be 5m at 3p with a 50% dilution.

[bones698] 10/4/2024 08:45

Their security is decreasing by the day and when you ocnisder that some assets are already locked into the expansion loan it los a lot less likely. The situation is now quite desperate and raising cash in a crisis is never going to end well especially when you see what they have done with 10m in 5 months.
The management have completely messed this up and the warning signs were there.

Its either a total reset, clear out the Bod and get someone in now or risk it ending up a total disaster. Removing one scapegoat isn't going to be enough after showing the level of incompetence they have here

[bagpuss67] 10/4/2024 08:44

Wow. Getting crushed now.

[bagpuss67] 10/4/2024 08:40

They are not in a cash crisis right now (according to broker forecasts) in terms of insolvency. The issue is likley the risk of a going concern qualification. I'm not sure how fatal such a qualification would be if they have the support of their key customers. I guess the main impact would be to possibly cause a further working capital squeze as creditor days compress and possible impact on credit insurance etc

In any event I guess that the FD is locked is currently negotiating with the capex lender to allow an ID provider priority on the security they have.

[bones698] 10/4/2024 08:33

This is in a bad way now the fcay they burnt through the last raise in only a matter of months is going to make raising more expensive. Limited assets to secure any loan against means its becoming a self fulfilling proficy now.
Poor management have ran this into the ground and like always shareholdets allowed them to do it and sat back without demanding action taken.
Heading south at a rtae of knots knowing they need money so getting sold into and that's just the start of the issues.
I don't think it's even investable anymore until a lot of things change here and probnaly at lower price than now

[gripfit] 10/4/2024 08:29

Might have a look at 1p

[cyberbub] 09/4/2024 22:40

Thanks Amt

[robsy2] 09/4/2024 22:40

I just want them to do well and am happy to be on board.
Just hoping they can make it happen.

[amt] 09/4/2024 21:52

Over the years 70m raised, a wining product produced and now company only worth 13m.
That cash would be worth over 100m if invested in a building society. The share price needs to get to 50p otherwise its all been a waste of effort except for the jobs provided.