I thought I'd just share with all, a consolidated timeline of what HC posters have provided as updates from James during this halt. these are not my comments and can be verified by reviewing the comments in these threads.
My belief is that they are either deliberately acting deceitful and drawing this process out for their own gain (of what, I don't know) or they are totally incompetent and just can't close this out.
Or both...
22/07
To his credit James has now responded tome also, arranging a call for tomorrow to connect… James did mention my emailvia hotmail to [email protected] went to junk
23/07
James got back to me on linkedin. Hesaid they are looking to do a big raise and after the tech update that shouldbe ready in a few weeks they will then undergo a big restructuring and costcutting program.
23/07
Hey all, just spoke with James, Mentionedmuch larger raise ( than 400k) being finalised… Also mentioned some restructuring to control costs. Once this deal finalised indicated some further deals to be announced, hoping with cash in hand for xxx many months and some decent deals the SP will rise. He did indicate that they thought the SP would increase off the IMG deal, but understands the constant raises squashed this.
7/08
When i spoke to james the other week iasked about the intent to raise 400k based on the term sheet, he said no, itwill be much more than that
7/08
Just received a call back, asked if wewill receive an update of any sort, no will remain in suspension tillfinalised, how long, matter of days...
Said they have a significant amount of fundssecured, but some others that have been on the fence for some time lurking inthe background are dragging their heals which has slowed thigs down, they wantto raise as much as possible to get to profitability, negating needs for futureraises for some time
7/08
james also called me and stated samething about finalising last few investors and will be a big raise. Also somecost cutting will take place in near future.
13/08
When i spoke with James he indicatedthey wanted to finalise this as they had a few new deals to release, so let see
14/08
just got a message from james statingthat the delay is due to getting the last few details completed and he isworking to get it done today and will come back tomorrow or friday with the announcement,
18/08
James replied back to my text, samestuff like scale of raise, etc. and that it is taking longer than shareholderslike. this time he sounded confident about what is happening.
18/08
Got exact same text Franfa, its more ofthe same from him...when i last spoke to James he mentioned they were going toannounce a few more deals, mustn’t be anything significant otherwise i am surethey couldn’t be sitting on them this long without advising the market. Let'ssee how this week goes, or if we get the same BS texts same time next week
(20min delay)