Worthington Share Discussion Threads

[davidkip] 20/2/2019 10:16

And it goes without saying that, as with the NARC investment, as of the Annual Accounts WHET didn't have anything like the cash (by a loooooong chalk) needed to cover those investments.

All a bit quiet on that front.

[davidkip] 20/2/2019 10:13

There's a spare £20,000 / 447330 shares missing from the disclosures, presumably to:

ANTHONY DU HECQUEST DE RAUVILLE ("AD")
W GLOBAL CAPITAL LTD ("WGC")

That would be an average of 4.5p for that remnant.

So WHET pay £150,000 for 2,142,857 shares (7p)

LEWNIS BOUDAOUI pays £40,000 for 1,217,520 (3.3p)

and the rest get theirs at 4.5p.

At first sight that doesn't make economic sense (unless RAP didn't tell each party what price CLN they were getting, which means WHET will be fuming) unless there's some undisclosed additional thing that offsets the apparent higher price WHET paid.

I'm sure once WHET get round to telling shareholders that they've just spent £150,000 on more Convertible RAP shares (or C-RAP, for short) it will become clearer.

[andy] 20/2/2019 09:28

David,


Yes you do wonder if there are any rules at all on the OTC?

[roydyor] 20/2/2019 09:16

I said the price that RAP issued their latest share offer at was 5.5p, but that was an average. WHET have paid 7p while Lewnis Boudaoui has only paid 3.3p.

[ratherlargelobster] 20/2/2019 08:14

*
But but but - its making £2,000,000 a month clear profit ....

The crew and their apologists screamed and yelled so ... so it must be true ....

[davidkip] 20/2/2019 08:03

Flagship's ability to file quarterly reports seems to have flown out of the window now SM is at the helm of the coal dumper truck.



Last one filed with the SEC was for Q1 2018 (to end March 2018).

They then filed a "my homework will be late, Sir" NT-10-Q form in August, promising to deliver the Q2 2018 report within 15 days. That didn't happen and it's been silent since. Zilch by way of any filings, whatsoever.

Ones missing are:

Q2 2018
Q3 2018
Q4 2018

I don't know the ins and outs, but presumably at some point failure to file gets you booted off OTC?

Looks like WHET missed a bullet with that one.