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Good to see that some knowledgeable and long term holders will be attending tomorrow. At the moment there is a pressing need for clarity in relation to the financial situation. Within the next six weeks or so INFA has payments due of over £3.5M. The suggestion is that the outstanding amount due to Riverfort will be amortised over a longer period and I presume some arrangement will be made to defer the Costain payment. The balance of the H&W payment is also due.
Thw BOD has spoken about negotiating a further "asset backed loan". What that entails I'm not sure. Perhaps droderick could enlighten us ? Or perhaps JW could be more transparent in relation to debt at the AGM !
INFA clearly has huge potential but the SP is sinking under the weight of dilution. The paltry SP gains are immediately lost by selling. Could that be the yo yo affect Blair Peach predicted some time ago?
We have had very little unequivocal good news for a long time. One has the impression that the company is relying in future government grants. The problem with that is that grants are notoriously unreliable,(as we know from the long awaited EU grant).
So we must hope that the attendees tomorrow will be able to elicit so really good news.
I agree with that post Setanta apart from the 3.5mill figure and the 6 week timescale
I am attending and will share my notes over the weekend.
Ban
Appreciate the effort and look forward to see what the BOD have to say for themselves. Far too often PI's are taken for sheep that are ten a penny, easily replaced by the next crop to get sheered. There are a lot of decent guys in here and put simply JW owes them answers.
The dilution, missed timelines and moving of the goal posts has done little to boost credibility.
GLA
Nice post longlasting, you have to wonder if the excuses hold water anymore , one thing we don't like is being let down and last year we were thrown from the top of everest.
Jw and the crew need to restore credibility in storage side , h&w was good value but now they have got to make it work , it don't run on peanuts ,
Bottom line they owe us ,they took us dry , if you don't believe that look at the sp and dilution. Eu and the ml are total 2019 *uck ups