Westminster Share Discussion Threads

[youkme] 01/8/2018 13:46

Back in play on the twitter ramp. Careful not to get spiked imo

[viking01] 01/8/2018 10:40

Senior Iranian cleric says Tehran should consider Trump's sit down offer.Quoted in The Times of Israel , yesterday

[viking01] 01/8/2018 10:36

Bloomberg Trump tweets ( watch out at 12.00)07.00 am NY time He starts ranting Anyway, looks like he is going , also to prevent the Chinese to take over Westminster great beta play on this

[youkme] 31/7/2018 14:59

viking. Interesting as to where you heard that?
More mindless ramping?

[loobrush] 31/7/2018 12:51

Great news in RNS -Iran contact getting closer by the day.

[viking01] 31/7/2018 08:52

Trump visiting TehranSanctions could be liftedGood news for westminsterJust do your homework Oh dear

[owenski] 31/7/2018 08:22

Did some muppet really say - the Iran deal on hold is a good thing? Jeez, these idiots deserve to lose money, and there's a never ending supply of them.

[owenski] 31/7/2018 08:20

This company is amazing, they've managed to keep a complete con going for years.
A true publicly listed wage trough.

[graham1ty] 31/7/2018 08:11

How come no one noticed that the Final results showed net NEGATIVE assets ?

This was, is, and will be bust.

Another irony, is that this £250,000 does nothing more than cover the interest on the old CULN.

One step forwards. One step backwards

[youkme] 31/7/2018 08:00

graham; its a great place to cheer yourself up though. The bull written on that site is truly priceless lol

[graham1ty] 31/7/2018 07:57

From the other place

“Only £0.19m is a pretty small raise. Its almost as if they're expecting large amounts of cash flow in the near term.. :)”

That is one of the funniest bits of wishful thinking I have ever heard. Let us try a few others:

The Iran deal on hold is really good news as they can concentrate on all the other MOUs

Having no money means they must be really careful how they spend it

The vast amounts the Board are paid means they will be able to buy more shares

I want the share price to fall so that I can average down

Etc

[graham1ty] 31/7/2018 07:52

4/10 £250,000 in placing at 33.5p
4/10 £500,000 in placing at 41p
8/10 £505,000 in placing at 20P
10/10 £1M in placing at 25P
7/11 £625,000 in placing at 12p
4/12 £500,000 in placing at 17p
7/12 £1.4m Loan Note
2/13 £1.48m in placing at 30p
4/13 up to £5m at prices yet unknown
6/13 £1.18m convertible loan note
7/13 £100,000 drawdown from EFF
9/13 £700,000 drawdown from EFF
9/13 issue of 4.6m shares against the Convertible
9/13 £200,000 under the EFF
11/13 £530,000 under the EFF
3/14 £450,000 EFF/new investor
8/14 £1.25m at 40p
12/14 £1m at 25p and 33p ( EFF)
4/15 £2.3m ( gross) from CULS and EFF
10/15 £1m gross from CLN.
2/16 £475,000 Loan Note to Darwin
6/16 £1.3m from institutions at 10p
11/16 £1.1m from Darwin
02/17 £0.6m from a new investor at 11.625p
04/17 £1m from Beaufort at 10p
09/17 £750,000 from Beaufort at 10p
1/18 £750,000 at 22p
7/18 £250,000 convertible at 10p

Twenty Six fundraisings since 2010. Raising £23.5m For what ? A company still bleeding cash, still losing money. And little reduction in the run rate. £3.3m raised in 2015. £2.9m raised in 2016. £2.3m raised in 2017, and now £1m In the first half of 2018. But however you cut this, it still looks like about £400,000 to £600,000 per quarter just to keep the lights on.

And they still have the Convertible, rolled over in May at 12% coupon, totalling £2.245m ( so costing £250,000 per year to service........so this raise today, only just covers the interest on their debt........)

One other thing, not really mentioned. In the table above the amounts raised is gross. The last Annual Report showed that the £1.675m raised in 2016 from Convertible Loan Notes cost......£272,000 in fees and costs !!!! So, 16% was paid away in fees !!!! Not only did Darwin screw shareholders, they absolutely screwed WSG. If you are desperate, and end up at Darwin, they can charge 16% for the privilege !!! Unbelievable

So, gross raised since 2010 is £23.5m !!!! And what is there to show for that ? At the interims Net Assets were MINUS £313,000 after writing off the ferry. Raise £23.5m and ..........get an unprofitable business and NO ASSETS to show for all of this

[this_is_me] 31/7/2018 07:51

Nothing has changed, still high risk/high reward.

[youkme] 31/7/2018 07:48

hereandnow said only yesterday, "There is no need for cash."


Beware of the rampers desperate for their exit imo
Couple this with the IanB statement about raising and tosh's 100% its Iran, you get the picture

[graham1ty] 31/7/2018 07:29

Well, there is a surprise.

They have run out of money !

[jenny tulwought] 31/7/2018 07:15

No 'U turn' referenced in this morning's RNS viking01.

[viking01] 30/7/2018 20:07

Trump. u turn on visit to TheranBuy

[kreature] 29/7/2018 11:19

best most meaningful post i ever read on here (1368) re the slight delays - Though I am disappointed that you missed out my favourite, the ferry, even though it appears to have ended up in the drink

[graham1ty] 26/7/2018 07:28

East Africa MOU, Nov 2012, delay 68 months
Asia MOU, Feb 2015, delay 41 months
"New country" MOU, Oct 2015, delay 33 months
East Africa 2 MOU, Dec 2015, delay 31 months
MIddle east 1 MOU, JAn 2016, delay 30 months
Border project MOU, Feb 2016, delay 29 months
Iran, MOU and LOI, March 2016, delay 28 months. “Signed” but not operational

That "adds up" to 260 months of aggregate delays, or almost 22 years wait !!

Just shows that the MOUs are meaningless, unenforceable, and give no guidance at all as to likelihood or timing of receiving any contract at all.

[threeputt] 23/7/2018 15:34

Not sure any mou anywhere will give it the buzz it needs to get to 15p as not many believe them any more, they also stated that they weren't going to broadcast any more mou signatures

[graham1ty] 23/7/2018 11:53

Dbn, it appears to be reaching the beginning of the end. A drift down to the lows of a couple of years ago, c5p.

Then I predict an MOU announced, a potential new contract somewhere unspecified, and it will be run back up to 15p, when they can get a placing away !

[dbnout76] 20/7/2018 16:18

When will it end!!!

[youkme] 19/7/2018 09:51

How many companies would keep on staff responsible for such a costly mistake such as the ferry fiasco? Family run businesses they would be the only ones imo
Current cash burn clearly slowed dramatically so just goes to show how it cost shareholders dearly

[youkme] 18/7/2018 06:08

What’s the margin on the 4.5m contract?
Why hide it WSG? Hence it carries little value to investors imo