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Post by Badly Drawn Stickman on Oct 17, 2022 15:46:55 GMT
Starting to look like all we will be getting from the payment due today (technically yesterday but that was a Sunday) is a red dot.
That would suggest that the loose change was all used up paying 124.
Maybe I am wrong and it will arrive after office hours. failing that maybe an update is in order. tagging @fatchance given they probably know as much as anybody.
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Post by Badly Drawn Stickman on Nov 1, 2022 19:44:46 GMT
V****n plc carried out another another allotment of shares on 20 Oct (reported at Companies House on 31 Oct) raising £86,999.99 I wonder if any of that will be paid to Ablrate lenders? I think it has been known to happen previously. From memory on a couple of occasions. Edit clearly not connected but I was looking for the origins of a saying Why do we say Clutching at straws? Make a desperate attempt at saving oneself. For example, He had lost the argument, but he kept grasping at straws, naming numerous previous cases that had little to do with this one. This metaphoric expression alludes to a drowning person trying to save himself by grabbing at flimsy reeds
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Post by Badly Drawn Stickman on Jan 19, 2023 22:29:34 GMT
I thought it would be interesting to add up the amounts raised in the share allocations over the last year or so There have been 18 such events reported at Companies House from 5 Jan 2022 to 23 Jan 2023 In total £2,966,748 has been raised View AttachmentWhen thinking about that near £3m raised in the year, remember that £1.55m was to cover the cost of an acquisition that is now the only remaining company in the group. At the time it was acquired (officially 21 March 2022), it was claimed that it had unaudited revenue of £1,182,000 and unaudited normalised EBITDA of £266,000. It was expected to have unaudited net assets of £940,000 and unaudited borrowings of £155,000 At 31 March 2022, ablrate lenders were owed £1,854,000 (18% annual interest rate). The principal falls due for repayment between April and July 2023. If anyone has any ideas where that money might come from, do post them here please. Maybe an update will be made soon, These are technically in default now and that should be acknowledged.
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Post by scepticalinvestor on Jan 21, 2023 9:06:48 GMT
I'm not in this one but it was very interesting to see how this progressed from the start in 2019 to today.
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optimist
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Post by optimist on Mar 6, 2023 21:15:03 GMT
First spotted by @tiopunte (see DD board). There is a coming together of V with a company that shares the F*******r name (but isn't owned by F*******r Ltd or F*******r Holdings Ltd) that involves £2.6m worth of V plc shares being issued I wonder if the transaction will result in any money being paid to ablrate lenders by either F*******r or V plc? My bet is on "no" I have more faith in the a Fore mentioned - they seem to be making progress and have a good track record.
My bet (hope) is yes but it will be a long term thing
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brush
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Post by brush on Jul 3, 2023 9:20:02 GMT
Appreciate your work in keeping us updated.
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brianlom1
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He's not the Messiah, he's a very naughty boy!
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Post by brianlom1 on Aug 1, 2023 21:29:47 GMT
First quarter results announced today for V plc RNS on the corporate website The ablrate £1.854m loan shows as a non current liability - i.e. it is not due for repayment within the next 12 months £231k revenue £210k loss: for every £1 into the till, £1.91 went out £87k cash (remember £25k was raised from the 18 May equity issue) £9k net liabilities so (£9k) owners’ equity retained earnings (£10.2m) Current assets £577k Current liabilities £3,234k States that there has been £76k of expenditure on the battery storage project in the quarter that has been capitalized Please correct me if I've misunderstood but the Ablrate loan which is overdue is shown as not being due for repayment in the next 12 months?
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 27, 2023 19:27:03 GMT
Who would have thought that an AIM listed plc, of which V plc's Group FD is a non-exec Director, would also be late in filing its accounts for the period to 31 March 2023? More on the DD thread Anyone who pays attention to AIM ... happens all the time. AIM is much of a cesspit as P2P.
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observer
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Post by observer on Apr 20, 2024 11:12:58 GMT
I posted on the DD Board about the mystery of a £200k interest free loan that V plc made to a connected company.
Given that ablrate lenders are owed £1.8m by V plc, some might be surprised that it has made such a loan.
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