Versarien Share Discussion Threads

[ronnyg1] 27/3/2023 08:02

the mature businesses are now no longer considered core activities - Turnover £10.5 millionGraphene product Core activity Turnover £500k Ummmmmmm

[772] 27/3/2023 07:32

One of the reasons i invested in VRS was it had the support of mature businesses during the build up of Graphene capacity, we might have reached the point where they could be sold off to support the Graphene part, i guess i would like to see a bit more traction and sales first. Ref Neill i suspect the picture will become clearer this week, i have my own theories which i am not going to write here.

[blades38] 26/3/2023 22:20

Good and valid point raised , the big question for me is why neill has stepped down or been pushed , it's possible it could be related to what you mention and disagreements within the BOD

[cotswoldsparky] 26/3/2023 21:31

Thanks, 772. Let's throw something else into the mix here to challenge the one-dimensional thinking over funding.

I've mentioned before that selling the mature businesses is a possible option, along with grants, debt etc. What struck me from the annual report was that (1) the mature businesses are now no longer considered core activities and (2) the goodwill carried in the accounts for these businesses has been impaired to zero. What is the significance of that?

Investopedia has a good summary here:



In particular:

"Another indicator of potential impairment occurs when an asset is more likely than not to be disposed prior to its original estimated disposal date. Asset accounts that are likely to become impaired are the company's accounts receivable, goodwill, and fixed assets."

So, is the impairment of goodwill a sign that the mature businesses are close to being sold off? Could be an interesting time for anybody shorting in the expectation of a placement if this is announced.

Just a few thoughts, as always DYOR.

CS

PS. Impairment of goodwill is seen in the accounts as a non-cash loss so doesn't affect cashflow. For those who believe that cash burn rate is based on reported losses...

[fireball xl5] 26/3/2023 19:48

Blessed with it I see. Your expansive vocabulary of demeaning comments ever ready in that holster. None so blind a BBM

[iceagefarmer] 26/3/2023 17:03

keep an eye on alba resources monday..heard some big news coming

[dil 21] 26/3/2023 16:40

Why is VRS still listed more like.

[alchemy] 26/3/2023 13:54

These days video in and out and interactive from many gardens?

[jambojambo] 26/3/2023 13:26

These are the CURRENT facts as revealed by the company (and not FUTURE facts that some here have a fascination with):

"the Company confirms that Neill Ricketts' resignation as Chief Executive Officer of the Company was accepted by the Board on 9 March 2023."

This is an emphatic statement of fact that I hope no one will dispute.

"Neill is now on garden leave and ceases to have day-to-day responsibilities"

This is also an emphatic statement of fact that is indisputable.

But as ALWAYS with VRS it is a game of hunt the conditional and here it is:

"unless required by the Company"

So he does not have day-to-day responsibility unless he does. But not otherwise. Except for when he does. But not before that. But possibly after that. But only some of the time. But not at other times. Unless called to do so. But not if not so called. But yes but no. VRS goes Little Britain.

To clarify matters and clear some of the smoke:

"but will remain a director of Versarien and be entitled to attend and vote at Board meetings for the duration of his 12 month notice period."

So he will DEFINITELY remain a director of the company, sometimes in an executive capacity and sometimes not. But all at the behest of the company. Sometimes. But not at others.

"The Board would very much like to thank Neill for his contribution and dedication to the Company since its formation"

This is clearly a statement couched in the past tense and thanks proffered for for past services - as is only befitting for a job well done.

"and looks forward to his ongoing support."

That is like interrupting someone in mid sentence and thanking them for the sentence thus far, and also looking forward to the continuation of that sentence to its conclusion.

I hope that clarifies the matter for those who are confused.

[1retirement] 26/3/2023 11:56

That's served you well no doubt. Will you still be saying the same if this hits 2p ?

[772] 26/3/2023 10:05

CS you are one of the very few on here that speaks sense and understands what is happening. Keep up the good work, others need not reply you are all blocked!!!

[diku] 26/3/2023 10:01

Below from the annual report 2022...surely VRS is in the hands of retail investors judging by the % holders below... so many retail stuck in here...am I missing something...





SIGNIFICANT SHAREHOLDINGS
In addition to the Directors’ holdings disclosed in the
Directors’ Remuneration Report on page 29, holders of more
than 3% of the issued 212,649,790 Ordinary shares of the
Company at 31 December 2022 are listed below.


Ordinary shares % held
Hargreaves Lansdown Stockbrokers 45,968,444 21.62%
Interactive Investor Services Limited 32,166,113 15.13%
Halifax Share Dealing Limited 15,100,783 7.10%
AJ Bell Securities Limited 12,301,195 5.78%
Hanwha Aerospace Company Limited 9,912,580 4.66%
Barclays Stockbrokers
Barclays Stockbrokers Limited 7,024,216 3.30%

[gicater] 25/3/2023 23:04

It's remarkable isn't it - most of the cult have disappeared but CS remains happy to continue to demonstrate a total lack of understanding of what a CEO 'resigning' suddenly actually should mean.
And then here's laginaneil this evening with another of his 'I wonder if our graphene could...' fantasies. This is despite years of evidence that 'our graphene' is quite clearly of little interest to any meaningful commercial enterprise.

[festario] 25/3/2023 20:57

Cotswold, you should be apologising or silent, nothing more. You should be ashamed and embarrassed, certainly not belligerent.

[laginaneil] 25/3/2023 20:47

Wonder if our graphene can add something to these 'wheels' ?

Sounds like big 'bucks'...

[blades38] 25/3/2023 15:52

Maybe vrs will do the same as Vrsrf did on Friday ?

[cotswoldsparky] 25/3/2023 15:41

This is great, someone who has only ever posted on VRS BBs despite claiming to be a Directa shareholder is criticising others for being novices. Yet they expect others to listen to them. I don't see any evidence of a successful track record - jumping on the TW bandwagon and abusing anybody who disagrees with you isn't the same as being right.

I'm happy to post facts, add in links where I can and move on. If you disagree, so be it but at least try to do it politely - with your own facts, ideally. As others have said, why not wait until the AGM in a few days. Maybe things will be a little clearer.

Here's an announcement (facts) which contradicts your blinkered views...you might want to rethink your statement "I can categorically assure you that this does not happen with Executive Directors of quoted companies". No mention of compromise agreements, no "with immediate effect" comments. Note they are available on a consultancy basis for 12 months, presumably while they work out their notice period. Isn't that just another way of saying "...ceases to have day-to-day responsibilities unless required by the Company..."? Just a different emphasis.

CS



"Tom Hierl, chief technology officer, and Steve Byars, chief operating officer, have resigned their positions and from the board of directors of IQE plc"

"Both individuals will remain available as consultants for a period of up to twelve months."

[1retirement] 25/3/2023 15:26

Isn't it twitter rumours that has helped create the mess here in the first place? Twittertene.

[gicater] 25/3/2023 14:44

I can't believe you are doubling down on this.
You stated ....."As anybody who has ever resigned from a job will tell you, you leave the company at the end of your notice period, not before. Until then you retain all employment rights, job titles etc."
I can categorically assure you that this does not happen with Executive Directors of quoted companies, especially with regard to CEOs.
It appears that for many of you, VRS is your first experience of investing in the Stock Market and that you have obviously lost a lot of money so are in denial.
You would think you might show some humility and listen to those whose knowledge and experience mean that they have been proven to be so correct in their judgement on this appalling disaster of a company and its incompetent management.

[cotswoldsparky] 25/3/2023 14:28

My apologies to all for posting something which I believe to be factually correct but doesn't meet Gicater's and bbm's distorted views on what should be happening. Apparently this makes me ignorant...I had no idea.

Maybe I should just make stuff up like TW and his acolytes and post the same thing ad nauseum. Would that make me less ignorant?

If twitter rumours are to be believed, there is to be a comprehensive pre-AGM statement released.

CS