Tomco Energy Share Discussion Threads

[fenners66] 04/2/2022 15:00

SL - you referred to $145m funding again....

Look at the cumulative cash flow it already needs $175m

That will go up - even though the exercise is only on paper...

[stuart little] 04/2/2022 14:55

What if it does happen. Have you considered that option? What then?

[lopodop] 04/2/2022 14:53

If this doesn’t happen and investors will know VERY soon, it will be a further waste of time and money. As JP knows there comes a time to give up and the Chairman may have to call time - otherwise TOM and the directors may find themselves in very deep water. This could be another reason for RH leaving although some surprise he took the money!
Of course could revert to RF but haven’t investors had quite enough.

[stuart little] 04/2/2022 14:39

Ultimately I agree but not for this years sign off. You could also argue that the deep wells create a viable business to enabled tomco to operate as a going concern. Anyway, it's an irrelevance right now. We are funded for the year with meaningful progress hopefully about to be announced.

[lopodop] 04/2/2022 14:36

SL
Let’s see what BDO make of it! Without funding there is no business apart from $10k monthly.

[rmart] 04/2/2022 14:35

over on the dark side they are desperately trying to trash everything about tom. Pathetic.

[rmart] 04/2/2022 14:32

there is not a single chance in hell of these clowns on here doing anything but trash tom. They will dissapear soon. Total clowns.

[stuart little] 04/2/2022 14:29

For this years audit there is no chance the plant funding will cause an issue of going concern. It's simply ridiculous to say it will.

[stuart little] 04/2/2022 14:25

Absolute rubbish. Complete tosh.

[lopodop] 04/2/2022 14:24

SL
AFRAID NOT. Auditors have to look at a number of issues as well as cash availability. Eg if the specified funding does not come about the plant project is dead.

[stuart little] 04/2/2022 14:20

Lopy, your statement on going concern? Was that an honest error?

[lopodop] 04/2/2022 14:19

RMART
You are doing exactly what JP wants you to do! You have to be appointed cheerleader and keep it up for two weeks. Remember CFE are watching and needing your help.

[stuart little] 04/2/2022 14:17

An auditors going concern statement has nothing to do with the $145m funding. You know that right? They are fully funded until 2023.

[rmart] 04/2/2022 14:13

just a few weeks and you lot on here can all disapear into the sunset, tails between legs.

full plant funding on the way.

[stuart little] 04/2/2022 14:13

They've just raised c£1.2m. No issues with "going concern" statement this year.

[lopodop] 04/2/2022 14:11

Fair enough. In 2021 the accounts were signed off mid February. If TOM is to stick to this deadline, although it has till End March, TOM must have the funding in place so BDO can sign off as a going concern - so called WITHIN 2 weeks.
A number here consider investors have been treated appallingly - many have placed their full trust in JP and co- only to be let down how many times? No apology just financially mugged.
Should this latest effort fail, it has to be the end and there has to be a full investigation to find out why. Let’s see if this is really going to happen first.

[stuart little] 04/2/2022 13:43

Just for balance I wouldn't be surprised to see a decreased holding RNS later. But the overriding story for longer term holders appeared to improve today.

[talais] 04/2/2022 13:31

Trades being reported on Usotc haven't seen that for a long time.

[stuart little] 04/2/2022 13:16

If they'd have said term sheets in the coming months then maybe I'd agree. To narrow that window to a couple of weeks and to have the confidence to state that funders wish to close by Easter, well that puts it in a different light. I don't know why RH resigned, it's as likely he was asked to, to make way for an O&G man but we'll never know. You have to admit ZP came across well. RH never did. Just saying.

[lopodop] 04/2/2022 13:12

SL
Surprisingly you of all! are being taken by a woffly PR stunt. It is a great pity for all invested. Time after time investors have been led up the garden path. Why would Richard Horsman leave if this closure was in prospect. One can only surmise that he did not believe this would ever happen or / and he had no time for ZP becoming a director.
Anyway he wanted to sever his relationship. Anyone with sense and commercial experience would not go along with TOM under the leadership of JP and co and its longstanding losses incurred in UTAH for 10 years. When the parties ask to see JP's record so far will they be impressed? Pathetic!
BDO are looking for certainty hence the need to have a deal soon. Every time TOM throw out a few crumbs the minnows jump for joy until ...
Anyway enjoy the euphoria while it lasts!

[vauch] 04/2/2022 13:01

OOH! Any news gets this lot rattled.

[the diddymen] 04/2/2022 12:40

SL seen post - have a few local business difficulties myself! I will have a look over the w/e

[jaynealex] 04/2/2022 12:33

An absolute bargain at this price if you've got funds

[talais] 04/2/2022 12:20

3mil trade was from 1st February , that took along time