Versarien Share Discussion Threads

[pwhite73] 22/3/2024 15:00

CS - share price gets its financial information from the same source as you which is the unaudited interims and audited full year results. The only difference is one of spin.

AIM companies will present the results to shareholders as if it's on the verge of profitability, cutting losses, efficiency savings, reducing staff, increased sales etc. This is to encourage PIs to invest in the shares. However they will always without fail report losses to Companies House so they don't have to pay any corporation tax.

The reality is that most of these AIM companies operate profitably from PI money because they don't have real businesses the money goes straight into the directors pockets. That's why so long as there are enough PI mugs year in year out these loss making AIM companies can keep going for decades.

SP challenges whether these companies have any real businesses at all and are in reality nothing but executive lifestyle companies until they run out of other people's money.

SP has called VRS right over many years. On the verge of going bust VRS had to take drastic action. The CEO was forced to resign and they brought in turnaround specialists Prompt Strategies.

I for one believe the current team genuinely want to make a success of the business and be pioneers in the UK graphene industry. Unlike share price I don't believe they are simply picking up where NR left off.

[cotswoldsparky] 22/3/2024 13:52

PW,

I think the Sunday Sport is more reputable than share price But joking aside, even you, despite your views on company RNSs, must agree that audited FY accounts and interims would be considered a more reputable source than share price for company financial information.

CS

[kemche] 22/3/2024 12:51

"I've politely and respectfully asked him where do I find such reliable sources"

You don't need any as you seem quite happy to make stuff up on a regular basis.

[pwhite73] 22/3/2024 12:20

The Cronk - "PW, Do you remember when I told you they had held off the results because of the going concern statement, and you told me it was because everyone had gone to Texas?"

Yes I do. Whilst I accept the placing cash contributes to a going concern basis the cash is not a necessity. The company only has to have the authority to raise cash and that is sufficient to sign off the accounts on a going concern basis. If you think all AIM companies have a pile of cash when the end of year results are published you are mistaken.

I have no beef with old sparky for we are basically on the same side. He's advised me in future I should quote only from reliable sources. I've politely and respectfully asked him where do I find such reliable sources given this company's 10 year history of telling lies.

I'm still awaiting a response.

[the cronk] 22/3/2024 11:59

PW,

Do you remember when I told you they had held off the results because of the going concern statement, and you told me it was because everyone had gone to Texas?


I see you now concede that they needed to do this placing to address the going concern statement, just as I previously stated, so you got there eventually!!


BTW you seem to have upset one of the company schills on the other board, old sparky has told you off good and proper.

Better get back there and eat humble pie to be accepted back into the collective, the one that never ever moans despite them losing a ton of money.

[hamidahamida] 22/3/2024 11:52

This Bargepole going nowhere Take it on the chin and move on

[kemche] 22/3/2024 11:25

"I am also of the opinion that yesterday was the very last of the destructive placings."


A mere two minutes later:



"They will certainly seek authority to issue further equity at the next AGM for it would be highly irresponsible not to do so."


I mean WTAF?????

And he is cleverer than everyone put together.

[pwhite73] 22/3/2024 11:25

sj - "It has to be said that VRS is a rare beast"

This is true and why VRS is unique from other AIM companies is because it is on the cusp of a nascent industry that all super forecasters predict will take over the world.

All other AIM companies are in mature industries, whether it be natural resources, software, financial services, construction, property, industrials, pharmaceuticals etc so it is virtually impossible for them to make their mark against bigger and more resourced players.

VRS are into graphene and there are no graphene multinationals as such. There are multinationals in construction, industrials, textiles, software extra that will look to deploy graphene but there are no pure multinational graphene players that can steal VRS's business.

This is why at this early stage I would bet on Dr Stephen Hodge and VRS.

[kemche] 22/3/2024 11:21

"a) "suspension pending clarification of the company's financial position" or

b) "illiquidity means its not in the interest of stakeholders to remain a listed concern therefore the directors have taken the decision to take the company private.

I am convinced none of these outcomes will apply to VRS because of what the new CEO is trying to achieve."

So that is a certainty then!


"never had the chance to buy at the placing price and I doubt if they ever will."

So that is a certainty then!

"I am also of the opinion that yesterday was the very last of the destructive placings."


So another on its way then!

[smokeyjohnson] 22/3/2024 11:04

It has to be said that VRS is a rare beast though fireball. History rarely dictates the future until it does, time and time again. At some point it might not but we'll only know in hindsight.

[fireball xl5] 22/3/2024 10:14

Recognised by the anachronistic BBM who lives and breathes the past. History rarely dictates the future.

[fireball xl5] 22/3/2024 10:12

Probably an outlet not linked to the skank. He has no balanced opinions.

[bbmsionlypostafter mk2] 22/3/2024 10:01

PW, You have to make allowances for CS. He was born stupid & has grown into the role.

[pwhite73] 22/3/2024 09:53

CostwoldSparky - "Can I suggest you get your information from a reputable source next time."

If it's not too impertinent a question may I enquire as to where I would find this reputable source of information given the 10 year history of lies this company has told its shareholders and the markets via the RNS service.

Thanks in advance for your cooperation.

[cotswoldsparky] 22/3/2024 09:27

PWhite,

"I think I read in Shareprophets the total liabilities was £8 million and lazily applied the £3 million of that to Santander without double checking."

Can I suggest you get your information from a reputable source next time. Or, if you do post uninformed speculation from behind the share price paywall, please say so, don't present it as fact in the way you did above.

Cheers

CS

[wheeze] 22/3/2024 08:50

Yet they cannot afford to forget about investors who funded them at substantially higher prices.

[pwhite73] 22/3/2024 08:20

It's not the price that's important it's the percentage discount to the current share price.

For example if the share price is 2p and the equity raise is at 1p that's just as destructive for shareholdings who were buying at 2p. This is what the CEO wants to avoid. They want long term investors in the company that would accept a 20% reduction in an equity raise for further share price growth when the discount shares have been absorbed and further commercial news has been announced.

The turnaround strategy is dependent on the support of various parties including PI shareholders. If there is no alignment between the two then the whole process falls apart.

[wheeze] 22/3/2024 08:11

I would trust the next equity raise would be at a substantially higher price

[zydecoco] 22/3/2024 04:00

PW,"I am also of the opinion that yesterday was the very last of the destructive placings"VRS last 12 months track record 5 x Placings to get 2.5m: March '23 - Placing to get 318kMay '23 - Placing to get 530kNovember '23 - Placing to get 650kJanuary '24 - Placing to get 455kMarch '24 - Placing to get 615kI am of the opinion that there is not a hope in hell of getting to September '24 without another destructive Placing, based on their track record.See my post 2 day ago: "Expect news notice of next AGM inbound, so they can pass motion to get license to Place and issue more shares asap."

[pwhite73] 21/3/2024 22:31

CotswoldSparky - Yes I stand corrected. I think I read in Shareprophets the total liabilities was £8 million and lazily applied the £3 million of that to Santander without double checking.

[fireball xl5] 21/3/2024 19:20

You'll understand one day. You really are blinded by sience, or possibly you just don't look.

[cotswoldsparky] 21/3/2024 18:30

PWhite73 - 19 Mar 2024 [151699]
"£5 million for the money owed to Innovate UK and £3 million for the money owed to Santander."

PWhite73 - 07 Feb 2024 -[151338]
"Innovate UK on £5 million and Santander on about £2 million."

PWhite,

How come you have the Santander debt increasing by £1M in March? Where do you get these values from? Can you clarify? Long term borrowings (in addition to the Innovate loan) in the interims were £1.4M, down from £1.6M at the end of the previous FY. I can't imagine Santander increasing this given the current reliance on placings over the past year to continue trading. FY results will give a better picture, albeit 6 months out of date...

CS