Tomco Energy Share Discussion Threads

[rescuer] 03/4/2024 11:04

deluded.. as BEGO sit on the offer at 0.02...

goulding12153 Apr '24 - 10:56 - 31337 of 31337
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WTI $85.36. Going towards to $90. Finance on the way? World-wide shortage of sand. Both commodities will be produced by TOM in quantity. All cash. Let’s hope finance is soon. It will be a winner. I can’t think of any other oil, sorry, sand company with the potential of TOM. Oil will be just a by-product. Sand being in a world-wide shortage, the price can only keep going up, as in any other world-wide shortage. It is only natural. It won’t be long. It will never be cheaper. GLA

give it a rest John, this is going to zero.. another con company.. just like the Clontarf Stable..

[goulding1215] 03/4/2024 10:56

WTI $85.36. Going towards to $90. Finance on the way? World-wide shortage of sand. Both commodities will be produced by TOM in quantity. All cash. Let’s hope finance is soon. It will be a winner. I can’t think of any other oil, sorry, sand company with the potential of TOM. Oil will be just a by-product. Sand being in a world-wide shortage, the price can only keep going up, as in any other world-wide shortage. It is only natural. It won’t be long. It will never be cheaper. GLA

[the diddymen] 02/4/2024 17:12

Someone sneaking in a 2.5m trade at the end in a very light trading day. Maybe only £1000, but it is £1000 in the bank rather than 2.5m of illiquid shares. Good decision.

[the diddymen] 02/4/2024 11:59

Fenners frequently the only question with these companies is when. You have followed the Clontarf Kennel for a long time and that is in the same category as TOM, but they are a bit more skilled gaming it. That makes the answer to 'how long' quite difficult.

Anyway TOM only has days now to find short term funding. That they issued a set of accounts with qualification suggests that they are struggling. On the balance of probabilities it should not be long now.

[fenners66] 02/4/2024 09:54

For anyone that follows these things ....

"London Stock Exchange Notice Cancellation - Esken Limited"

That is the company that was one half of the Eddie Stobart empire.
Its shares are now worthless and its in administration.

It was a share I looked at about 6 years ago and I have added my warnings about for a long time.

Someone on the other thread once posted that when I look at a share and decided not to buy, and share the
questions on these boards , invariably I have it correct.

That is about the 5th once very large company that I have followed to Zero.

Others are still zombies but at all time lows - TOM is one of them.

[the diddymen] 02/4/2024 08:13

No great surprises that there was no follow up RNS today on financing.

Since no question has been posed by the gamblers thread it is worth asking here how interest charges rose from £234k (2022) to £764k (2023), while the outstanding loan with Valkor dropped from £1144k (2022) to £445k (2023). An average of c£750k at say 28% (Usurer's rate) would account for £210k.

Just a guess but the other £550kish of interest (and similar charges?) was associated with raising peanuts through Novum Securities. No wonder that there is a vested interest in keeping these narrative companies going.

[the diddymen] 29/3/2024 12:12

In 2023 TOM allowed the shares to be suspended in the knowledge that they were on the cusp of another fund raise.

In 2024 TOM have had to accept a qualification of the accounts - presumably because they do not have the ingredients of a bail out package in place.

If they had any substantive financing package for TSHII close to completion they would be in a position to go to the markets for temporary financing of working capital.

The Chairman writes: "As I write, we believe we are edging closer to securing the requisite funding after many months of effort and patient negotiation." 'Believe' is a very difficult word to challenge in the courts. On this thread we 'believe' that TOM has been a narrative company for many years. On outcomes we have been proven right time and time again. The Chairman refers to months - they have been negotiating for years and it is appropriate at some point to say 'this one will never get over the line'. That should have happened years back, but this is AIM and in this set of results the Directors received £381k (2022 - £362k) in remuneration.

For avoidance of doubt the current value of shares owned by Directors is £15. That speaks volumes for the confidence of the Directors in the narrative.

[the diddymen] 29/3/2024 11:40

Now how many years back did we point this issue out?

From the other thread:

"digger277928 Mar '24 - 15:43 - 31335 of 31336
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Directors need to buy a few shares. Their holdings are pathetic
goulding121528 Mar '24 - 19:05 - 31336 of 31336
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Ditto digger."


Only one more epiphany moment to go!

[the diddymen] 28/3/2024 23:18

£100k in the bank. It will not last long and they cannot leave the raise to the last minute (unlike the accounts). I very much doubt that they will be able to raise the cash. If TOM does manage to get a placing away the shareholders will be diluted out of existence, and if they go under (no odds quoted now) they will lose everything. A rock and a hard place for shareholders really, but no one on this side of the fence will be surprised one iota.

On another matter anyone seen Stuart 'I'll be back' Little of late? To show a little humility, you would have thought that he would stand up to his promise.

[lukeisbackontrack] 28/3/2024 21:55

By the way, I never asked. Is skiboy dead or in jail?

[lukeisbackontrack] 28/3/2024 21:54

Soon market cap will be multiple of current one.

[lukeisbackontrack] 28/3/2024 21:53

Choo choo £1 soon, get on board before the news, rmart and ski boy knows someone who is Utah right now, they can’t say much. Just pump it like you mean it.

[lukeisbackontrack] 28/3/2024 21:51

I can feel it in my urine. This is it, it must be now. Am I correct rmart?

[fenners66] 28/3/2024 20:24

Vauch they cannot do a mega raise for zillions of shares - no one will buy them.

As for spending $17.5m on TSHII - and do what with it ?
No one wants it, the option was always pointless , other than from giving shareholders the obligation to buy more shares or risk throwing away what was already spent - as we said from the start - and then they would have no money to do anything with it ....

As for other gamblers still hoping ?
Its really sad to see the destruction ....

[fenners66] 28/3/2024 20:18

Number of shares in issue 1-10-2022 1,451,412,012

Number of shares in issue 28-3-2024 3,904,155,277

i.e. just issued another 168% of share capital and achieved no business , lots of losses and of course all that lovely directors' remuneration.

Retained deficit £29.143 million

[fenners66] 28/3/2024 20:13

This was in the related party disclosure note.


"The company was charged £19,429 for professional services rendered by a company (Oil and Gas Advisors Ltd) of which a director (Dr Donald Philips) is a controlling shareholder.."

So related to Zac Phi l l ips ?

Is that a spelling mistake if related ? 2 L's or 1 ?

Are they trying to tell us that ZP only got £36k (a rise of 44% year on year ! ) but was also connected to another £19k?

[goulding1215] 28/3/2024 19:05

Ditto digger.

[the diddymen] 28/3/2024 18:38

Fenners I have just taken a first scroll through the detail and frankly they are a disgrace. There may be reasons why the final presentation was not provided by the auditors - I simply do not believe that auditors would ever allow such a slipshod set of accounts to be released. However it does the auditors no favours.

No funder in their right mind will be looking to fund TOM if this is the best that they can do. They had better get the glossies right.

Not long before annihilation now!

[fenners66] 28/3/2024 18:23

Some of the notes still have the 2021 comparisons
I suggest this is the accounts being re-used and no one got around to deleting the bits no longer required

again points to a rush job.

[fenners66] 28/3/2024 18:11

You all know what that means

The auditors published the accounts with the hyperlinks left in - where they had been examining their duties to report
the accounts

My guess is they wondered if they could publish their report as it stands with the paragraph about material uncertainty related to going concern

and were searching for a justification.

NEVER have I read any published set of accounts with hyperlinks to Auditors responsibilities in - clearly this was all done in a rush at the last minute and is a complete omnishambles !

[fenners66] 28/3/2024 18:07

Ha Ha Ha -just found out why the document's accounts are all underlined !

Its all hyperlinked to

"Auditor’s Responsibilities for the Audit"
hxxps://www.frc.org.uk/library/standards-codes-policy/audit-assurance-and-ethics/auditors-responsibilities-for-the-audit/

"Introduction

Paragraph 41(c) of ISA (UK) 700 (Revised June 2016) allows the auditor to refer in their auditor’s report to the location of the “Description of the auditor’s responsibilities for the audit of the financial statements” that is maintained on the FRC’s website.

This page contains the current version of the “Description of the auditor’s responsibilities for the audit of the financial statements”.
Description of the auditor’s responsibilities for the audit of the financial statements
Applicable for audits of financial statements for periods commencing on or after 15 December 2019"



Etc Etc

[fenners66] 28/3/2024 18:04

What was I asking about the interest on the Valkor loan for years ?

How much was it actually costing ?

Still not clear - but the interest cost rose from £223k to £837k !!!!

Mugged

[fenners66] 28/3/2024 17:55

Auditor from Westferry Circus....

well can't argue with that.