Thalassa Share Discussion Threads

[catswhiskas] 12/8/2016 10:37

Is the cash on hand at the bank ?

[hammers976] 12/8/2016 10:16

I also see it as Soukup being out of pocket. But, why did he advance the money in the first place when thalassa have so much cash? And why are they looking to continue trading with these Russians?

[cockerhoop] 12/8/2016 10:05

Stemis,On past performance a big contract with the Russians is far from positive :-)

[basem1] 12/8/2016 09:51

Edit $750k not million

[basem1] 12/8/2016 09:50

Soukup will probably be purchasing more shares with his $750m

[jbarcroftr] 12/8/2016 09:19

Yes that's my take in our new Brexit world

[stemis] 12/8/2016 09:16

varies - yes, my reading is that Soukup is $350k out of pocket.

If I was being negative, I'd say that Thalassa have just given up their claim over the debt to get Soukup $750k back of the $1.1m he bizarrely advanced to the Russians.

If I was being positive then I'd predict that some time soon Thalassa will announce a big contract with the Russians.

I've actually done business with the Russians in the distant past. It's not like normal business....

[pj 1] 12/8/2016 08:55

Nothing is ever straight forward anymore with this Company and I will probably remove it from my W/L

Why on earth does a cash rich Company need to effectively borrow from its Exec Chairman? Is the cash there or not?

Maybe Soukup Manor needed an extension in part repayment ?

[mypension] 12/8/2016 08:47

Clearly there is something very wrong and shareholders are not being told what that is. Commercially why allow another company to blatantly rip you off. Why was the arbitration for 4.4 million dropped?
Our management have just allowed 4.4 million to disappear. Surely they ow us an explanation?

[varies] 12/8/2016 08:47

Further insight into this strange transaction might be provided by a close examination of the notes referred to in the accounts.I will look at these when I have time.
My impression from this statement is that Mr Soukup advanced $1,100,000 for the discount and that, having received $750,000 back, he remains $350,000 out of pocket. Does the phrase "without recourse" mean he has no claim against THAL for this ?

[catswhiskas] 12/8/2016 08:44

Down it goes again something not right here sellers know something they've been all over it like a rash all week .

[masurenguy] 12/8/2016 08:43

I totally agree SteMis. It seems to be an utterly absurd transaction and it starts to make me wonder whether something not quite kosher was involved here.

[stemis] 12/8/2016 08:33

So let me get this. The Russians (SMG) owed us a load of money ($4.4m) for work we'd done for them. To get them to agree to payment, we offered them a $1.1m discount. For completely inexplicable reasons, rather than offset that discount again payments, we (rather Soukup) paid it to them!!. They then banked the cash (thank you very much) but failed to honour any of the payments.

Now we've agreed that, as long as they return $0.75m of that discount (effectively to Soukup) we'll let them off the debt. Effectively meaning we've paid them for the privilege of doing work with them.

Amazingly we are now exploring new opportunities with the Russians.

I can only hope there is something about this that isn't clear because at the moment it looks like utter madness...

[owenski] 12/8/2016 08:19

They were owed money for a job/equipment etc, but weren't paid, Soukup plugs the short fall to THAL with a loan, they take the company to court, THAL wins, company agrees to cough up part of the money owed, THAL then pays that back to Soukup.

And they still look to do business with Sevmorgeo after being stuffed by them, such is the nature of business when pickings are a bit thin.

[jbarcroftr] 12/8/2016 08:13

Can anyone explain today's statement please

[catswhiskas] 01/8/2016 16:26

Hopefully not a director purchase otherwise that will mean another decade of no news !

[basem1] 01/8/2016 13:09

Director purchase today ??

[catswhiskas] 27/7/2016 11:35

We are 7 months into the financial year we should be due an update on current trading as they should know if they are going to meet market expectations for the full year .

[davidwilkin] 27/7/2016 10:17

I'm looking to acquire 35000 shares over the next week or so, so that should help a little.

[basem1] 27/7/2016 10:12

Has anyone got level 2 on THAL please ? Just wondering how the book looks ?

[basem1] 21/7/2016 17:21

Added another 6500 today on the weakness. That's me fully loaded for now.

[pippin6] 15/7/2016 11:32

Welcome aboard Wilk1, your a shrewdie and know a winner when you see it.

[wilk1] 15/7/2016 11:31

Sorry guys, just couldn't resist them at 47, been waiting for a few at that level and had to get them over 2 trades.

[basem1] 15/7/2016 11:10

JMF, there's now some available at 47.

[basem1] 14/7/2016 14:09

Phone up JMF, get them to see how much stock about, that's what I do, I bet they'll get you 10000 at 47 and then the price will go 46/49. They're already paying 44.5 for volume.