Tomco Energy Share Discussion Threads

[lukeisbackontrack] 14/4/2024 01:24

Guys, just do your usual. Average out lol

[1dutchman] 12/4/2024 22:40

Amazing. Over the last 7+ years that Mr Groat has been Chairman of Tom, shareholders have seen the company's value drop 98%. Groat has been Chair of Harland & Wolff for 5+ years, during which time that company is down 85%. There seems to be a pattern here. Will the H&W shareholders give him another two years to match his record at Tom?

[digger2779] 12/4/2024 20:27

They haven't got a cat in hell's chance of raising 17+ million if this is how they conduct themselves. The last placing was at a 47% discount,nice work if you can call it that.
Potter is on 250k for what? Lots of sells today and it will continue unless they have a rabbit to pull out of the AIM casino hat.

[the diddymen] 12/4/2024 16:32

Market cap almost sub £1m now.

[the diddymen] 12/4/2024 16:31

No great surprises on the share price movement today. Anyone with an iota of common sense needs to be recovering what cash they can from this narrative debacle.

[vauch] 12/4/2024 15:02

Its time for a no confidence vote as we seem to get nothing from the company who are suppose to be working for their owners (us)

[1dutchman] 12/4/2024 11:21

Fenners - thanks for the good research on Reform. It's not just Potter but the Board that have perpetuated this hoax. Market cap now down below £1.2 million. This is becoming farcical. Even that valuation is too high, because the company is worth zero. The only value is attributed by deluded shareholders, many of whom have lost so much of their investment that it probably isn't worth the transaction cost to sell out. Beware of any moves by eg Matt Jones's because the only thing that any quantity buyer might desire at this point is to further profit by gaming the poorly informed shareholders. And per Rescuer's comments (sorry for delayed response) perhaps the AIM listing is also worth nothing. Sad commentary on a market that was meant to encourage meaningful start-ups and growth companies. Sure, some will fail, but it should because of failed tech or failed markets, not because of fraudulent boards. And sadly, those same boards, knowing the game, will go on to the next one and the next one.

[fenners66] 12/4/2024 10:06

Time to remind the gamblers thread that Potter has history.
They were all told before about Reform Energy plc - insolvency

Look again at the Full Accounts to 27-6-2019 produced April 2020

18 months of discussion with JMF Europe with whom a Heads of Agreement for the sale of the company had been
agreed and formally extended...

Extended sounds familiar ?

But they had no funds...
Then an alternative was found , Sept 18 , funding diluting shareholders ...hurrah but by June 19 insufficient funds released....
By 2019 the proposed technology provider for the project was no longer interested ... so very encouraging negotiations have taken place with another provider...

(months and months of promising if incomplete negotiations - sound familiar ?)

Throughout the period the landlord was supportive - but could not be assumed to be indefinitely....

During this period a further working capital loan was provided by one major shareholder.....

(Sound familiar - Mr Jones (is it?) .....)


August 19 a company approached by an alternative lender and a Term Sheet was signed by the company for the sale of the project company Reform Energy Fleetwood Ltd on 2-3-2020 ... subject to...

So all good then , years of talking and a document finally signed. Otherwise in their own words "very little activity" massive losses and admin costs - but the directors did Not take any remuneration.....

By August 2020 a receiver appointed and insolvent liquidation started in 2021 ... what happened to that generous shareholder....

[the diddymen] 12/4/2024 07:12

Into W-8 before ground zero. Barely any trades this week. Hardly a market into which to place more confetti. TWI.

[vauch] 11/4/2024 13:08

I will be attending and you know how I voted last time, this time around I hope many other will put their foot down to.

[the diddymen] 11/4/2024 12:55

Major assumption that there will be another AGM on the gamblers thread. In 4 months the words 'trading whilst insolvent' will have already been on the Directors' minds:


"rmart11 Apr '24 - 12:28 - 31340 of 31340
0 0 0
just over 4 months to the next AGM Vauch. Could we all be going again and listen to the same old same old yet again?

Will they all show their faces if no funding is in place? Will they dare to sit there once again and tell us how close they are?"

[rmart] 11/4/2024 12:28

just over 4 months to the next AGM Vauch. Could we all be going again and listen to the same old same old yet again?

Will they all show their faces if no funding is in place? Will they dare to sit there once again and tell us how close they are?

[the diddymen] 10/4/2024 13:20

"Vauch10 Apr '24 - 12:56 - 31339 of 31339
0 0 0
The lack of progress is baring on incompetence."


Vauch I disagree with the use of the word incompetence. This thread has been saying for years that none of the narratives have been technically or financially feasible and 'the strategy' has been no more than a mechanism to provide remuneration and generate some fees.

Shareholders have directly and indirectly fed and financed that narrative.

[vauch] 10/4/2024 12:56

The lack of progress is baring on incompetence.

[the diddymen] 10/4/2024 11:46

A sensible shareholder took £3k to leave 8.5m worthless shares on the brokers books. A few more sells and this will touch new lows.

Despite our warnings shareholder loyalty has kept this dog going and the Board in remuneration. Not long now however. The Board has at best two months.

[fenners66] 10/4/2024 10:24

We effectively told the other thread 4 years ago (or more) what a pile of junk this share is ...
for those that would not listen - look where the share price is now.

[rmart] 10/4/2024 09:20

a sell at .375 again.

[the diddymen] 08/4/2024 07:08

Rescuer - the trading on 18th March looked strange to say the least, but not on the scale you mention above.

TOM need to get some temporary financing away in order to keep the Directors in remuneration.

Being generous let us call this Week-9 before cash runs out. I will not be holding my breath!

[the diddymen] 05/4/2024 18:45

1d a proper review is required. The non-execs have been very happy to take the shilling and they should account for it ('subject to' for Mixi et al).

[1dutchman] 05/4/2024 17:34

Diddy - it's not just one week that has been wasted. It is several years and millions of shareholder's pounds that have been wasted. And it was all so predictable, as you and several others on this thread have expounded over the years. The litany of issues is long, but it starts with a Board and CEO who collectively have no experience in operating an oil company - - or a sand company, if it pleases Goulding. Would you hire a plumber to fix your car? A roofer to wire your house? Of course not. But both the Board and most investors deemed it ok to hire a caterer to build their oil company. And to keep him on, even when the results were nil. Kudos to Potter, I suppose, for he has got away with it now for over six(!) years, pocketing over a million pounds for having produced absolutely nothing. One way or another, the end is nigh, but I do hope that the Board is suitably called out for their ineptitude and profligacy and blocked from future Board roles. The AIM Regulation should also review what has gone on here; there are supposed to be safeguards in place so that AIM companies don't mislead investors in this way.

[the diddymen] 05/4/2024 07:14

So one week wasted for raising the interim finance.

Reflecting on the need for cash to enable a clean audit report does the 18th March trading retrospectively look a little suspicious?

[the diddymen] 03/4/2024 14:00

Goulding - ever the optimist. Sadly there is the small issue of funding. Even if TOM had more than a narrative idea, the company does not have the infrastructure to deliver a substantial project.

How long does £100k keep the lights on?

Not long before 'trading whilst insolvent' will start to trouble the uninvested Directors.

[fenners66] 03/4/2024 11:44

Did they not read the thrown together last minute qualified accounts with hyperlinks all over them to the Financial Reporting Council's guidance for auditors ?

The accounts were an massive embarrassment to all concerned - goulding still pushing TOM and linking it to anything other than expensive narrative is either deluded , or worse.