Worthington Share Discussion Threads

[sweet karolina] 03/11/2018 18:08

David,

I am not sure any real exchange will take them. I doubt they have the cash left to pay for the prospectus and listing fees. If you strip out the Motivideo shares (even if they are worth the figure claimed they are not sellable and should not be current assets) RAP had negative net current assets of MINUS £400k back in Jun which are probably around MINUS £800k now. They would need to raise between £2-3M minimum to satisfy any market's capital requirements. All the talk was of a London listing, now they just make vague statements about a dual listing. The London listing has clearly completely bombed.

[davidkip] 03/11/2018 17:22

Oh dear Simon St Ledger does mix with some types! Frankfurt exchange anyone?



(from way back in 2012)


"A common practice is to encourage the client to float the company on the lowly regulated Frankfurt Stock Exchange. There is a fee in this for the promoter. Donovan's real bread and butter, though, is ''equity line financing''; that is, a promise of instant funds akin to a very expensive overdraft.

Often the funds are not delivered. Even if they are, equity lines are an expensive form of funding and can lead to sharp losses in a company share price.

Not all Donovan's clients are critical. One, Simon St Ledger, the principal of the weight-loss supplement distributor Rapid Nutrition, recently announced a ''$50 million joint venture'' with Equity Partners Fund.

''This transaction was facilitated by the Singapore-based Equity Partners Group, who have developed an exemplary track record with total transactions completed in excess of $US4.5 billion,'' St Ledger wrote on his website.

Contacted by The Sun-Herald, St Ledger said he had not yet drawn down the $50 million. He did say, though, that he believed that Donovan and Equity Partners did have $US4.5 billion in funds."

[sweet karolina] 03/11/2018 17:04

RAP Net cash used by operations 2018: £1,073109 2017: £50.202

Vs Operating Profit 2018: £1,101975 2017: £308,195

Incredible business model the more profit they make the more cash they burn and they are not even capitalising a load of costs.