Tomco Energy Share Discussion Threads

[vauch] 28/3/2024 15:13

I can see a massive consolidation on the cards.

[the diddymen] 28/3/2024 15:13

Only £100k left of the last capital raise - where are they spending the cash?

£500k to be raised imminently. I would be amazed if they could get it away above 0.0002. Only another 2.5bn shares.

[the diddymen] 28/3/2024 15:10

One last gasp - accept a material uncertainty on going concern clause in the audit sign off. The bottom line is that if the company do not dilute the living hell out of the share price, going concern is not relevant. Any new capital can now dictate their terms, so sub 0.0001 on the way. Shareholders all had their chance to liquidate some capital prior to this announcement today - too late now.

"The forecast, which includes all commitments at the date of this report and reflects receipt of the net proceeds of the £0.3m equity fundraising announced on 21 February, indicates that the Group will need to secure approximately an additional £0.5m in Q2 2024 to meet its currently envisaged working capital requirements for the twelve months to 30 April 2025, beyond which further funding will be required. Based on historical and recent support from new and existing investors and debt providers, the Board reasonably believes that additional funding can be obtained when required, via further debt or equity issuances, and in the meantime is carefully preserving its existing cash and taking measures to reduce costs and defer expenditure (including director salaries) such that it continues to consider it appropriate to prepare the financial statements on a going concern basis. However, the Board's ability to raise such funds cannot be guaranteed. As a consequence, there is a material uncertainty as to the going concern status of the Group. The financial statements do not include the adjustments that would result if the Group was unable to continue as a going concern."

[the diddymen] 28/3/2024 07:07

D Day and no accounts submitted at 07.00.

Any sensible investor will have to assume a suspension RNS on Tuesday.

Any sensible investor will also see that there will be no way back to a listing. That the narrative took it this far is amazing.

[the diddymen] 27/3/2024 11:24

Fenners, no it is not sensible.

As ever opinion only but shareholders have a few hours in which to convert valueless shares into a few pence.

[fenners66] 27/3/2024 09:36

You are correct to point out that a suspension tomorrow , may just signal the ignominious demise of this narrative company.
Any holders could become trapped in a suspended and later an unlisted share.

Petroteq is an example of the same - remember their tech was quoted on the gamblers thread as the best thing since
sliced bread a few years ago (it wasn't) - suspended and delisting.

There will be those that may consider they have a gun to their heads and to preserve the loss making shares they have , actually contemplate giving them more money to carry on doing the same - but a year on and nothing has changed , is this really sensible ?

[the diddymen] 27/3/2024 08:16

While only a £1200 trade - you have to be bonkers to buy in the next 48 hours, the risks are simply too high based on history.

[the diddymen] 27/3/2024 07:16

D-1

Like last year the odds must firmly be on a suspension now.

Last year TOM undertook a last second capital raising exercise to obtain audit sign off and lift the suspension. The chances of that being repeated a year on are minimal. On that basis it is not clear how they will regain their listing.

Investors should consider the risks today if they need cash in the coming months.

[vauch] 26/3/2024 15:46

Absolutely nothing, that bridge was burnt a long time back.

[rmart] 26/3/2024 15:22

what has valkor got to do with tomco?

[haggismchaggis] 26/3/2024 12:35

On the Quadrise investor call today..Cash from Valkor.... "We fully expect".Very confident!

[fenners66] 26/3/2024 11:21

rmart acknowledging - finally - the risk of failure !

HELLO ! Where have you been ?

That's been obvious for years . But now surely is the time to realise we had this element correct all along and that banning the sensible from the gamblers thread was a serious error , at best....

[the diddymen] 26/3/2024 11:17

From the other thread: "goulding121526 Mar '24 - 11:00 - 31323 of 31323
0 0 0
Could be rmart, if it is an RTO, nothing certain, but I believe that the BoD are not allowed to communicate with anybody. I could be wrong, but the company may have to be suspended. However, as usual, the BoD leave the shareholders in the dark."


Goulding if they do not report by 31 March 2024 they will have to be suspended under the listings rules. Two working days to go. What could possibly be the problem?

[rmart] 26/3/2024 11:14

website back up

[goulding1215] 26/3/2024 11:00

Could be rmart, if it is an RTO, nothing certain, but I believe that the BoD are not allowed to communicate with anybody. I could be wrong, but the company may have to be suspended. However, as usual, the BoD leave the shareholders in the dark.

[rmart] 26/3/2024 09:28

Or could it be the rto and new website and name ? Who knows ?

[rmart] 26/3/2024 09:01

They don’t even have a website that works now. Not stuck in vauch. I bought on the strength of those large buys hoping it was a sign of news coming, bailed about level when it didn’t happen.

Good luck, I’m still watching and will be back in if there are signs of a decent outcome. I’m def not getting locked in though with the risk of failure.

[vauch] 26/3/2024 08:54

Well John
Its Easter yet again now for the third year, so how is it really going, have you a real update for the long holders or is it another push to have new leadership.

[the diddymen] 26/3/2024 07:24

In 2023 TOM announced the suspension of trading on 03.04, a Monday, the first trading day after 31 March. A reasonable assumption is that TOM are in a similar position with the auditors this year, albeit that the risks are significantly greater. At the moment a 02.04 RNS appears to be the most likely course.

It will then be up to the Directors to respond. One way in which they could give the shareholders a fighting chance would be to commit some of their own resources to a placing. Another way would be to get Mr Jones to foot the bill.

[fenners66] 25/3/2024 09:47

Spreadex dumping 35m shares or so.

The really sad aspect of that notifiable amount is its only about £15k !

[the diddymen] 25/3/2024 09:15

Haha, don't hold your breath on today's RNS. Just about the equal and opposite of last weeks RNS.