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[bagpuss67] 11/4/2024 08:05

Is 5p the fundraise price???

[evilblues] 11/4/2024 08:00

I'm in. Good opportunity over coming weeks.

[bagpuss67] 11/4/2024 07:38

So who has stayed in and who is out? I'm still here on the basis that, Bundred is off, the customers are still on board(and it woukd be a right pain for them to ditch SCE), they are at £18m run rate and despite the terrible situation they haven't gone backwards quarter on quarter and they claim they are getting there with the process and capacity (I know its been said before), they are forecast to have £1.7m cash at year end and should (I hope) be able to raise/ borrow enough to create the headroom to see them through.

[bones698] 11/4/2024 05:44

I suggest once again you look back at my posts here although I know you don't like making an effort before posting garbage super.

[supernumerary] 10/4/2024 20:23

OK - I see. It's just that altruism doesn't usually spark quite so much effort, even on advfn.

[bones698] 10/4/2024 19:40

No not buying this super. Until. Some of the above issues are taken care of and I can see a reasom to invest which atm I don't and may never now.
Have watched this over 15 years ups and downs but the last 12 months have been a total disaster and shows the issues when you don't have professional management in place. This happens far to often on aim. Where the investor thinks he can run the business and doesn't want to let go and let someone better at running a company takeover

Bag puss whatever it was its in the price now. Would expect another dip tomorrow 3 day rule and like today some bottom. Feeders bargain hunting but until. Finances are sorted better to stay out of this imo

[bagpuss67] 10/4/2024 19:35

1m@6p...a buy from today or a late reported sale yesterday? I know its only £60k but still in the circumstances any signs of support are welcome

[supernumerary] 10/4/2024 18:56

I take it you're a buyer then bones?

[sharesure] 10/4/2024 16:49

I suppose it’s too much to hope that someone with connections/experience of Formula 1 could be attracted to the Board? Probably dreaming on that one!

[amanitaangelicus] 10/4/2024 15:03

Downtick? The board gurus in da house!

[amanitaangelicus] 10/4/2024 10:48

Bagpuss ...yeah right ...everyone believes what these deadbeats say. I d wait for the inevitable placing, or convi loan job, or a loan from the Liverpool Marxist Council where the insiders there will be on the make. Bent.

[bagpuss67] 10/4/2024 09:58

I believe them when they say that. However I know this scale up has a propensity for new issues to come out of the woodwork or old ones to never be fully sorted.

[amt] 10/4/2024 09:53

They said that 3 months ago but appart from 1.5m sales in March there is little evidence that problems have been resolved.

[amanitaangelicus] 10/4/2024 09:37

Bones ...i feel a death spiral convertible loan stock placing inbound - a death knell for many. Useless , amateurish management, playing big boys. Need someone with real business acumen at the helm. Ex dull scientists not good enough- clueless. Of course, the existing lot will fight this tooth and nail as the real, needs sorting issues will become acutely visible. Typical Aim Circus share now. Placing needed - it.s why the share price is crashing. Wake up and smell the roses

[bagpuss67] 10/4/2024 09:36

Also. They are probably negotiating with the auditors. The brokers have a FY24 YE cash position or £1.8m. According to the company by that point they will be on a LTM revenue run rate of £23m pa and climbing rapidly.

We havent seen the FY25 forecasts but obviously the going concern negotiation will be about those forecasts and what are appropriate downside sensitivities.

An issue will be that working capital will need funding as sales ramp so an ID line was aways a good potential option to cover that..maybe Liverpool roll over and allow prior ranking security on the back of a good story from IM

[bones698] 10/4/2024 09:29

Fair enough I'm sure they are looking at every option but none are great in this situation. Yesterday I posted that one way means pain now but leaves better profit long term the other would impact long term profits more. That's if they get there. As of now the company is fighting to survive imo

[bagpuss67] 10/4/2024 09:27

You could be right Grip. It wouldt be the first time

[bagpuss67] 10/4/2024 09:26

I have set out the security position in a previous post. That's why I say an ID line would need a carve out and intercreditor agreement with the Capex lender... I agree that carve out may not be possible to negotiate leaving equity as the most likely source of cash

[gripfit] 10/4/2024 09:26

Liverpool council will bail them out .. more Fukin idiots with somebody else’s cash imho

[bones698] 10/4/2024 09:23

Bgapuss are you really going to be that naive to think the loan isn't secured against assets? That leaves very little in the way of value and assets to secure any new financing against. Whatever way they go it will be at a high cost now or later due to the now very large risks.

Looks like a sell order m the background as not moving on some buying. New bargain hunters will get locked in and sat on a loss soon imo