Westminster Share Discussion Threads

[barpy] 22/1/2019 23:05

21 days till their 7 year duck. I just know they’re gonna do it
And placing ahoy. Many more in the trough now

[threeputt] 22/1/2019 21:45

I think they're buying for the trading update in expectation of a good report, probably a risk worth taking tbh as long as they sell out quickly on news

[youkme] 22/1/2019 21:21

Sp going up. Is it possible that peeps are buying just to get placing away? I mean, volume/interest is non existent so wouldn't take much. Just can't understand why tbh

[alphapig] 18/1/2019 13:24

Yeah, just saw your post, oi oi placing ahoy! Gonna struggle at 10p.

[youkme] 18/1/2019 08:37

Placing imminent imo

[owenski] 18/1/2019 08:27

Will they need to commission the building of a bigger trough. Surely there are so many snouts in this wage machine that some jostling and pushing and squealing must be occurring at feeding/bonus time.

[graham1ty] 18/1/2019 07:11

Anothercompletely useless Director.

Oh no, not useless. Will have his own set of mug investors and can twist their arms to follow him in.

Placing ahoy

[graham1ty] 16/1/2019 07:51

East Africa MOU, Nov 2012, delay 74 months
Asia MOU, Feb 2015, delay 47 months
"New country" MOU, Oct 2015, delay 39 months
East Africa 2 MOU, Dec 2015, delay 37 months
MIddle east 1 MOU, JAn 2016, delay 36 months
Border project MOU, Feb 2016, delay 35 months
Iran, MOU and LOI, March 2016, delay 34 months. “Signed” but not operational

That "adds up" to 302 months of aggregate delays, or over 25 years wait !! Nothing new has been signed for coming up to three years, so that flurry of supposed activity either side of Christmas 2015 has produced absolutely nothing.

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. The MOUs cannot be anything more than “yes, let us have a chat about what you might be able to do for our airport security” and no more. Whatever they say, WSG conversion rate is.......er, zero.

The most recent five MOUs are all about three years old. Are they really still talking to these people ?

[youkme] 12/1/2019 22:04

Let’s just get this straight.
WSG did not win the SL contract it was gifted/invited
Have a quick google on WSG in Africa.
Some you win as they say
Some you can’t buy as they say lol

Wake up

[kreature] 10/1/2019 10:41

Has the new broken boat been fixed yet or what?

[graham1ty] 09/1/2019 08:52

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
8/18 £500,000 raised at 10p

Twenty Seven fundraisings since 2010. Raising £24m 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 £1.5m in 2018. But however you cut this, it still looks like about £400,000 to £600,000 per quarter just to keep the lights on.

In Sept they had £800,000 cash left. So, four months later, that must be down to £200-300,000. Squeaky buttocks time.

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 the raise in July 2018 only just covers the interest on their debt........). And where are they going to find £2.245m to pay that back in May ? Well, they are allowed to roll it over (again) but the coupon rises to 15%......


So, gross raised since 2010 is £24m !!!! And what is there to show for that ? At the interims Net Assets were MINUS £313,000 after writing off the ferry. Raise £24m and ..........get an unprofitable business and NO ASSETS to show for all of this

[youkme] 03/1/2019 10:53

blondviking, boiler room at full work to get a placing away for their beloved BOD

[graham1ty] 02/1/2019 13:25

They are taking over security for all Channel ports. A new division called Channel Readiness And Protection

[blondviking] 02/1/2019 13:19

Why the lift today?

[graham1ty] 30/12/2018 19:02

“Concerns have been raised over the readiness of a British firm contracted by the government to run extra ferries in the event of a no-deal Brexit.
Seaborne Freight was awarded a £13.8m contract this week to run a freight service between Ramsgate and Ostend.
The firm has never run a ferry service and a local councillor said it would be impossible to launch before Brexit.”

Why have they not contacted WSG. They have years of experience not running a ferry and could have been guaranteed to bend a propeller shaft mid Channel. They can even provide their own boat.

[owenski] 27/12/2018 15:13

The Iran contract wouldn't happen even without sanctions, even if a special road was built all the way from the UK across the water and continents to end up in Iran with a sign on the road saying - this way to Iran, open for business, please sell us plenty big stuff of everything you have but especially security stuff.

This is a wage machine for BoD lifestyles, next fund raise must be due soon.

[graham1ty] 27/12/2018 09:15

Well, looks like the attempt to hype failed. No one believes that Iran will come through. And no one cares about a supposed Africa draft contract.

An attempt to hype just revealed that they have NOT signed another MOU this year. Along with all the other broken promises

[sandeep67] 27/12/2018 09:07

clearly the hyped up RNS was a prelude to another placing. You got to know the company by now

[graham1ty] 24/12/2018 08:25

This is me.

It has been high risk, high reward for five years.....and the price has slipped from 90p to 10p.

Everyone writes “high risk/high reward” rather than “high risk/big substantial losses”

Happy Christmas

[this_is_me] 24/12/2018 07:57

Still high risk/high reward. Either you take the high risk to your money or you forgo the chance of a very big profit.

[threeputt] 24/12/2018 07:46

Reading through it with my jam tinted specs tells me nothing coming 'soon' at all, just more updates on the horizon. The tech delivery is good news but again my jam tinted specs is not convinced that the margin is going to be any good either.
Only ever good for a trade but I don't fancy this one, I notice they didn't mention the cash situation.....

[youkme] 24/12/2018 07:36

Thats the placing RNS then pmsl