Versarien Share Discussion Threads

[pwhite73] 28/3/2024 16:18

fuji99 - "IMO the real blame is that there is no company at all."

RNS 28/03/2024 -

· It has reduced its employee base from 93 employees to 64 employees.
· It is seeking to sell its mature businesses which employ 42 staff which would leave 22 staff in its core technology business.

The company has 64 employees which it hopes to reduce to 22 once the mature businesses are sold. This is why they believe they will return to profitability based on sales from the IPs and savings on staff costs.

[pwhite73] 28/3/2024 16:03

RNS 28/03/24 - "The Annual Report including the Notice of Annual General Meeting ("AGM") is now available on the Company's website at www.versarien.com and will be posted to shareholders on 30 March 2024. The AGM is being held on 30 April 2024 at 10.30 am in the offices of FieldFisher LLP at Riverbank House, 2 Swan Lane, London, EC4R 3TT."

There can be no more equity issues for the next month as they have no authority to issue any more shares until the AGM.

[fuji99] 28/3/2024 15:59

PWhite: "Where we differ is that you and the others lay the blame squarely at the feet of the management team." - IMO the real blame is that there is no company at all. A corner shop selling butter milk and chapatis would do better in 12 months - and without millions in debt and losses.

[pwhite73] 28/3/2024 15:42

1manchild - "Can you honestly say the CFO has done a good and credible job?"

All of them have done an awful job in the past. Where we differ is that you and the others lay the blame squarely at the feet of the management team.

I put the blame on the management team attempting to run a business in an industry that did not exist. So irrespective of who you had in the boardroom VRS would have failed and it nearly did.

Role on COP 21 and Net Zero the graphene market is more receptive to VRS the equity markets still not so.

The CEO is ditched, Prompt brought in, a graphene scientist is appointed CEO and we are dealing with a new company in a more favourable market.

You must put the past behind and move forward from here. It is my opinion Versarien will be one of the wonder stocks for 2024.

[fireball xl5] 28/3/2024 15:27

Don't know why all the gremlins are excited by what we knew months ago. Someone trying to create a non story. April approaches, more happening.

[1manchild] 28/3/2024 15:19

PWhite - Im not sure where your getting your 'highly reputable specialists' and 'one of the very best' reviews from? The website case studies are highly geared in their favour and they still arent very impressive imo. Most dont even have name/brand permissions. Im even more baffled about the hospitals analogy?

NR left Versarien in a bad state and the current crop of which is still the same apart from NR, has done no better - maybe even worse in some areas. Can you honestly say the CFO has done a good and credible job?

My guess is similar to yours in that the big boys, EY etc, would have looked at the situation much differently but one can assume that Versarien approached BDO first for their advice right - they are the accountants after all? BDO didnt take it on for what ever reason and so in pops Prompt for a pay day. Look at their turnover to see the business that comes through the Prompt front door to see why they would want it.

I dont think EY etc would advise to file for administration either. They would have to speak to the relevant government departments first who due to the debts who would want to keep the technology and they would advise on first stage things like a new structure and management to try and save it. If it didnt work then it would be an administration case.

Come on PWhite. You know all of this.

[kemche] 28/3/2024 14:08

Dil, I keep averaging down both here and at Vast. So too at RRR, CRCL, CHLL, PPP, TOM, amongst a host of others.

[pwhite73] 28/3/2024 13:59

1manchild - "Now that is not true is it? You have someone like EY with a presence in 150 countries and with huge investor networks and case studies,".

That may well be the case. Like you have hospitals that see thousands of patients each year and operate on thousands of patients each year. However despite all the millions it has in funding and all the doctors it employs hospitals frequently come up against an illness that it cannot properly diagnose and it will refer you to a specialist. Some of you here may well have been referred to specialists.

Now read what I said.

PWhite73 - 'I still support them. It's not a new management team they need its specialists in company rescues. They have one of the very best in Prompt Strategies.'

Prompt may well be a small band but they are highly reputable specialists in the business of company rescues.

Given the state VRS was in when NR left this is why they are with Prompt and not EY, KPMG or Deloittes who would have said - "with £5 million owed to Innovate UK, £1.5 million owed to Santander and zero revenue you are technically insolvent so file for administration"

[dil 21] 28/3/2024 13:41

kemche , bet you a fiver these make a profit before VAST get their diamonds back :-)

[1manchild] 28/3/2024 13:17

PWhite73 'I still support them. It's not a new management team they need its specialists in company rescues. They have one of the very best in Prompt Strategies.'

Now that is not true is it?

You have someone like EY with a presence in 150 countries and with huge investor networks and case studies, and then you have David and Gillian at Prompt working from their house with a few sketchy good news stories including the identification of a brew house move.

The facts are there for all to see on the Versarien turn around. It has not worked and it is not working. Having faith is great and I have faith in the technology but no one knows the future so we have to go on the past and now for the projection and it all points to a much needed change.

[zydecoco] 28/3/2024 13:08

PW "Its onwards and upwards from here." - share price 0.115p, 28th March 2024.Let's all check back shall we.

[pwhite73] 28/3/2024 12:24

I know many of you long term bears was hoping there would no results issued today leading to suspension on Tuesday. You were all sorely disappointed to see the results out this morning. But I did tell they would be out and covered all the reasons why.

Speak Later - Exhausted

[pwhite73] 28/3/2024 12:06

1retirement - "Graphene revenues going from over £2m to just over 250k, is NOT commercial traction."

"Versarien has supervised researchers as part of the Digital Roads of the Future project led by National Highways and Costain, housed at the University of Cambridge and is proud to be part of the Advisory Board of the Roads Research Alliance alongside the 20+ other founder members."

The £2 million came from the Digital Roads project. The project has now ended. The government wants future roads to be built with sensors that send back real time information to National Highways and local authorities. Construction companies will no longer be able to build roads without real time monitoring. Versarien has also been instrumental in local authority pothole repairs where graphene with sensors are used to send information back to local authorities so in future they repair roads before a huge gap appears in them.

More contracts will come from the Digital Roads project.

[smokeyjohnson] 28/3/2024 11:54

Votes for that resolution 99.93%

[1retirement] 28/3/2024 11:42

Oh, there's an idea. Can that be proposed for the AGM resolutions?

[bbmsionlypostafter mk2] 28/3/2024 11:32

Who else thinks senior mgmt should be paid AT LEAST 50% of their salary in VRS shares?

Let them join the VRS family!

[bbmsionlypostafter mk2] 28/3/2024 11:30

They have one of the very best in Prompt Strategies.


God, how I love this ADVFN BB.

[1retirement] 28/3/2024 11:00

Graphene revenues going from over £2m to just over 250k, is NOT commercial traction.