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17/05/22
17:49
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Originally posted by Muffintop:
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I've been silly enough to hold this dog since shortly after float. Have watched management come and go, but its movements in shareholdings which are more interesting. The insiders have built their holdings through salary conversion, plus we had whats-his-name from Goldmans NY buy a bug chunk a couple of years back, who coincidentally previously worked with one of the founders.... In my view this is a phoenix...theyre using shareholder capital to form the product, identify markets - but not expoit them. Comms has fallen off a cliff. My money is this company will hit insolvency, some randon firm will pay a fraction for the tech and plant - and lo and behold it becomes a commercial success with, coincidentally, some of the original founders/ directors through a side agreement. No point selling, nothing left.
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muffin you have hit this exactly . I have seen this many times before. Obviously steinpress has a back door deal going leaning money. Administration notice before eofy.