Worthington Share Discussion Threads

[andy] 02/1/2019 16:04

Arthur,


Good spot.


"Angelfish has agreed that the Loan will be unsecured unless Rapid fails to repay the Loan in accordance with these amended terms."

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So it is secured then?

[sweet karolina] 02/1/2019 15:38

David,

I was referring to nobody wanting to put money in at a London Listing, unless it was corporate governance issues which prevented it happening, which is entirely possible.

The RAP cash position at 30 Jun, ie after the funding was only £124k - actual cash revenue received as opposed to accrued was dire. If that state of affairs has continued, then RAP must be gagging for cash. Nobody is putting their hands in their pocket including WHET, who passed on the opportunity to exercise warrants in Nov.


At least RAP does have a real product to sell and it would seem there are some people who want to have it, they just seem to be reluctant to actually pay for it.

[davidkip] 02/1/2019 14:07

We don't know (yet), but the implication is that NARC will be seeking funds above and beyond what it gets from WHET. Whether it succeeds in raising funds is impossible to guess, and will depend on the progress they make with the first tranche of cash.


As for others being reluctant to fund RAP, IIRC there were other funders alongside WHET in the most recent funding round, it wasn't just WHET. RAP raised about £1m in total thru CLNs, WHET was a minority investor in that round. It's not just WHET that are funding RAP.





"Rapid Nutrition Announces Issue of Convertible Instruments
May 7, 2018
NOT FOR DISTRIBUTION IN THE UNITED STATES, UNITED KINGDOM, THE EUROPEAN ECONOMIC AREA OR AUSTRALIA

Switzerland – In an effort to increase the free float of its Shares (GB00BLG2TX24) listed on SIX Swiss Exchange, Rapid Nutrition has successfully placed Convertible Instruments with new investors. Once converted in full, the Convertible Instruments will increase the current share capital by 35% to a total number of Shares 31,388,396 outstanding Shares. The funds of GBP £1,055,875 raised by Rapid Nutrition through this issue of Convertible Instruments will be used to reduce debt and to finance the further growth of the Company.

Commenting on recent investment, Simon St Ledger, Chairman, said "In light of the recent joint venture agreement with the NYSE listed General Nutrition Corporation ("GNC"), the funding facilitates our ambitious growth plans over the next 12 months."

[sweet karolina] 02/1/2019 13:57

"WHET alone could put at least €1.6m into NARC, other investors will put in additional funds."

I agree with the first part as WHET COULD do that, if it has the money - it did not exercise the RAP warrants. The second part is highly debateable. WILL other investors put up the additional funds needed? Nobody else seems keen to fund RAP. NARC already has an existing investor keen to sell at 70% of what WHET paid. What happens if nobody funds NARC or even if WHET is the only funder and does not have deep enough pockets to feed the ravenous dog? The answer is the same as what is going to happen to Neil Woodford's ravenous dogs - HALO has gone already, RM2 highly likely to be next, I am waiting for him to become a forced seller of PURP, then there all those unlisted pooches which have no other mugpunters, who blindly followed Woodford, to dilute to oblivion. Whereas I think it is fair to be critical of Woodford, even on his worst days he is a far superior fund manager than the WHETdream crew.

[davidkip] 02/1/2019 12:42

Spary

It'll be years before we know what happens with NARC. They've already said they're looking at funding rounds in 2020 and 2021. WHET alone could put at least €1.6m into NARC, other investors will put in additional funds.

This ain't a cheap gamer in his attic that makes a unicorn game that sells for zillions. It is standard, solid game development plan, one that takes years and $millions to create.

So years down the line and millions of Euros later you'll find out whether NARC can make a profitable game. In the meantime the task for WHET is to raise case and spend it.

[andy] 02/1/2019 12:42

spary / Bulgarian,



Please limit your posts to discussion of WRN/WHET/RAP/FGCN and associated companies.



If you wish to argue about other stocks, multi id's, etc. etc. please PM each other, I doubt it is of interest to people here.

[spary1] 02/1/2019 12:12

SK, fair play to you for being honest and admitting you are affiliated with shareprophets, I am not a fan because I have seen 1st hand the damage caused and people sell out on a share price article only for a share to multibag the day after, not sure if this is to help close shorts let people take a position or whatever, before I get into trouble I will says that is just my opinion from what I have seen. The fact that AE, AB etc will be under the scrutiny of you guys will surely make him ultra careful and everything above board ? As said at least I know your angle in this now 👍

Yes agree never put in more than you can afford to and if I lost on all my shares yes I would be annoyed, I have a couple of others but I don’t post on them because of my shadow who likes to follow me 🙄 yes never go all in 👍

[sweet karolina] 02/1/2019 12:08

I repeat the very wise advice I gave this morning on the FRR board for the benefit of all:

"Either:

Learn the lessons by listening to those with more experience - I was a bit like you once, though never went all in on one company and always had a risk balanced portfolio which, as my experience has grown, has become more heavily weighted towards higher risk recovery plays. I could afford to lose my entire share portfolio and not have any immediate impact on my life, though my retirement would be less comfortable if that were to happen.

Or enjoy poverty."

[bulgarian] 02/1/2019 11:33

spray1,

LSE admin told you I had a VPN? How did they know that? (I don't actually) and more importantly what were they doing disclosing any info on individuals which should be subject to strict data protection laws?

The rest of your blather re. Multi ID, etc has been posted by you so many times, I'm sure you believe it to be true. And as I suggested a simple £20k bet to disprove all the falsehoods would have been a welcome addition to the local dogs home coffers. A HNWI / sofisticated (sic) investor like yourself it would be loose change. Guffaw.

As for share price - they have been calling that stock you mention a sell for years. They like a few others, including me have questioned and seemingly called it correct. At the same time as you continually calling it a buy and ramping 7K+ posts on that one stock over the years.

Oops..

Ditto, GSR, KEA, VAL, etc.

[spary1] 02/1/2019 11:19

SK- now it all makes sense, as I thought, there is always an Agenda as I said the other day, so you are affiliated with sharephrophets and TW who has been silenced it seems, are you another conduit for him to vent through? It certainly all makes sense now and why you don’t want Whet to succeed. Makes me feel a lot happier about my investment now as can see your angle fella 👍

[davidkip] 02/1/2019 11:00

TXO? What's that?

[sweet karolina] 02/1/2019 10:55

It generally takes about 5 years for an investigation to achieve a public result. The offences AE committed to get disqualified in 2013 were committed in 2008. Rob Terry has still not be formally charged over the fraud at QPP. It is one of the really sad failings of our regulatory system that it does not even lock the stable door after the horse has bolted, but finally gets round to it when the horse is in the next county or even country.

I guess ICAEW only taking 3 years to fine and severely reprimand TXO's audit company for signing off on the work of fiction Tim Baldwin produced in 2015 is quite a result. I am still working on getting him disqualified as a director and maybe I will succeed in 2020. In the meantime FRC are looking into the individual auditor who signed off many of Tim Baldwin's works of fiction over many years and many companies. Maybe he will be shown the error of his ways in 2020 too.

[arthur_lame_stocks] 02/1/2019 10:33

Maybe it's the exceptional cashflow or that valuable shareholding in a company that doesn't exist.

[andy] 02/1/2019 10:20

Spary,

"Admittedly RAP isn’t performing the best at the moment, maybe sale were up over Christmas ? Maybe it just needs to update the market regarding profits ? At the moment it seems to be just the share price that is languishing not the company but that seems to happen to most share price in between company updates ?"

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The Best?

Is it performing at all?

These are the ONLY bids for RAP on the SIX today:

7998 (1) 0.071
50000 (1) 0.03

Less than £2,000 worth!

How can WHET exit if they choose to do so when the bid is like this?

And if they can't, what is the real value of their investment into RAP?

[spary1] 02/1/2019 09:54

Bbms, I think WHET will go a long way for various reasons

People said there would never be gifted shares but here we are

People said there would never be deals but we have had 2 already.

Admittedly RAP isn’t performing the best at the moment, maybe sale were up over Christmas ? Maybe it just needs to update the market regarding profits ? At the moment it seems to be just the share price that is languishing not the company but that seems to happen to most share price in between company updates ?

NARC, Phil put up a much better case than I ever could yesterday

you can make a hit game that brings in millions on a very small budget. Flappy bird took an indie developer less than a week to make. It made $50k a day in revenue at it's height. Angry birds (the original game) made tens of millions in revenue, $1.5 million a day. It cost $140,000 to make. Fortnite cost around $70,000 to make. It made $300m in the first 200 days alone - and that was just on IOS. If the game is good and in demand, it may need very little additional funding. Word of mouth gets round in the gaming circle, there's no need for big spend on marketing. Popular games market themselves.

Look at who is heading Narc and how he was involved with EVE the highly successful MMO that was sold for $425 million in September of this year. This isn’t some obscure developer is it, again this is someone who has grown up and running is own company which makes you more determined does it not ?


Further deals, shows the guys have been busy and actively pursuing deals does it not

Funding, obviously there is some or deals wouldn’t be getting done, yes we need an update on that

Aidan, yep he has made mistakes in the past for sure, but mistakes sometimes need to be made to build a stronger understanding and make sure they don’t happen again, look back to the case that SK points out, how old was he then, early twenties wasn’t it, I think 30 odd years later that a lot has been learnt, also With The FCA looking at WRN tells you a couple of things, not able to comment until 2020, really, are they struggling to find anything ? With the FCA taking a look at WRN don’t you think Whet will be squeaky clean ? Also why say on a blog about WEN coming back, with all the attention on him you wouldn’t post that lightly due to the scrutiny from those who choose to attack the 2 companies, also the same regarding the share price prediction of being higher than the highest WRN price ? You wouldn’t make that statement lightly would you due to all the attention it would bring if it didn’t happen ?