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#81

And I see you’ve also strayed into the world of company fundamentals tonight PJ, something that you have previously preached was irrelevant to share price direction. So as we are talking fundamentals I trust you are aware of this RNS which emerged well after the start of the current litigation:
http://www.lse.co.uk/share-regulatory-news.asp?shareprice=FRR&ArticleCode=qofz2r08&ArticleHeadline=Financing_Update

I draw your attention specifically to this section: “Pursuant to the Term Sheet, the loan would be on a delayed senior secured basis and the initial availability would be $45,000,000, of which up to $20,000,000 could be used to retire the Company’s existing debt.” I hope it has occurred to you that when effected this will not only enable the company to settle any out of court deal with Outrider but provide it with adequate capital to fund its operations going forward.

You might also wish to have a gander at this article about the meaning of a stay in litigation proceedings:https://en.wikipedia.org/wiki/Stay_of_proceedings
In particular the bit which states that:
“Court have the power to stay:
the whole or part of any part of litigation before it
litigation permanently or temporarily
the proceedings pending some contingent event, such as conclusion of an appeal or a period allowed for mediation.”
The parties reaching an out of court settlement would certainly seem to constitute a contingent event.

I’m off to bed shortly. Sleep well, it’s only money at the end of the day but leverage can be a real bitch when it comes back to bite you.

Tot


#82

ToT…Well that certainly seems to have shut P up suddenly for the night. Nice one ToT! :clap::clap:


#83

Hi tot

I think you’re aware that I have no position either way in this stock.
Also, as you know, i’ve never ever said fundamentals are irrelevant to SP’s. They just don’t control them. As you know with FRR, anything that has ever been announced by the company has singularly failed to change the SP trend. We’ve discussed ‘bounces’ to the FRR price before on the VRS bb…and although you were very optimistic at the time…I did say they would only be ‘bounces’.

It seems you’re still the eternal optimist here in de-listed guise, and I guess ‘why not’. Hoping is free.
But, the debt spiral, poor operational results and somewhat ‘iffy’ management show no signs of abating.
I would have thought, at best, they would pay Hope off and continue privately…basically cutting you guys out of the equation, despite all your previous funding and hard-work in trying to work with them. But I wish you all the best. I’m not the bad guy.

I’m more keen to make you aware of a potential problem that you can still do something about…VRS

I really think this one looks bad technically in the medium term at least.

All the best with your investments…you deserve a bit of luck after QFI and here.

PJ


#84

Morning PJ,

What you’ve said in the past is that fundamentals have virtually no effect on SP trends and that in a stock that is trending upwards good news can continue that trend, the converse applying in a downtrend - which to be fair is pretty much what we’ve experienced here - so far. When the NY fund loan is put into place (and I am very confident that it is strongly related to a the negotiation of an out of court settlement) that will basically mean the end of the death spiral and a new beginning with big partners on side. Whilst the operational progress might seem limited it clearly has been good enough to get a company of the calibre of Baker Hughes to sign a MOU and BP to sign a NDA. Should that NDA lead to a formal agreement prior to the stock relisting I am sure that you would agree that a significant re-rating would take place, blowing the downtrend and those who are short out of the water. Good to hear that you have no position then, but if so why are you constantly posting here? Are you on the SP payroll perhaps or do you just get satisfaction from winding people up?

On VRS the head and shoulders pattern did not play out as I think you were expecting. Instead the stock has been slowly rising since the low point of a two year uptrend last October. The rising 200 day moving average has generally provided support since October, but has been punctured to the downside for very short periods during that period as it is doing today. I would agree that the bulls need to fight back at this juncture if the uptrend is to be maintained though, as I am confident they will if a decent contract is announced. So yes I would agree that it is make or break time this week, with the bollinger bands having narrowed to a point where a breakout out of that triangle pattern seems inevitable.
If you have any further comments to make on that I suggest you do it on the appropriate board though as this is not the place for an ongoing discussion on other stocks.

Toodle pip!

Tot


#85

Yes tot, that’s correct on the fundamentals.
The key thing is that ‘good news’ during a downtrend doesn’t alter the downward trend. Conversely, bad news during an uptrend doesn’t change the upward trend. So, we know SP’s aren’t controlled by externals.

On your perceived NY funding or whatever you’re expecting. That can’t blow any downtrend out of the water ( not that it would anyhow), because the stock isn’t traded and so now has no trend to blow away.

I won’t comment on VRS anymore on here…but do be careful.

PJ


#86

Thing is PJ that there is plenty of evidence out there of trend reversals following bombshell news and many formerly successful companies have collapsed following a succession of profit warnings or an unforseen event like the Macondo disaster with BP. I’d generally agree that there is less evidence of stocks recovering from a long term down trend but it does happen and VRS is one of them if you look at the trend from 2014 until it took off like a rocket in 2017.

I remain convinced that this stock will do the same when it relists as I do not expect that to happen until all the ducks are in place, and that will take some time.

Tot


#87

He’s still not answered why he has almost taken over the FRR board and continues to post prolifically. Something is rotten in the state of PJ methinks …


#88

Have to say I did very nicely out of VRS in 2017 - and I don’t recall many predicting what happened

Back in 2009 I was a S&M guy in a major financial organisation. When interest rates had hit rock bottom I remember going to a UK economic conference - and every single economist there predicted rates back to a 4-6 % range by around 2014. I asked why? The response was pretty much get in your box, don’t you understand the historic trends.

There are one or two I still regularly remind of those predictions - and the fact that sometimes the historic norms change quite fundamentally

Anyway I agree with ToT that this will relist but only when the fundamentals have been sorted. Re-financing, various operating agreements in place etc etc. And probably a share consolidation. Have waited this long so can wait a while longer.


#89

Tot

I’m not saying stocks can’t recover from downtrends…once they bottom, they often take off, but until a trend is broken it remains in force and your friend.
VRS bottomed and soared. It completed 5 waves at the high. It is now working 3 waves down.

BP in 2010 after the oil spill…it was already working 3 waves down starting 3 years earlier. It was getting hammered well before the spill. Yes it fell strongly after the news…isn’t that what we’d expect ?
The 3 way fall completed perfectly and BP took off again

You are supporting the theory.

PJ


#90

PJ this has to be my last word about VRS on here and I’ve got stuff to do now, but as I see it the stock made an ABC correction from the uptrend in September and October last year and is now in wave 1 of the next upward cycle. We’ll find out in the next few days if I am right or wrong but feel free to put up an annotated chart on the VRS board if you want to educate me :slight_smile:

On BP my chart platform only goes back ten years but the stock was rising sharply in 2009/10 prior to Macondo, which took place in April 2010. The chart certainly wasn’t predicting that!

Tot


#91

What a buying opportunity in BP that macondo disaster was
The stock (eventually I am a long holder) rose massively and the company kept on paying dividends throughout the period
I believe that folks here may find themselves offered a few shares by BP sometime after our relist here
It might take a little while but I trust in Zaza when he told us that this could be a billion dollar :dollar: company in the next few years
:grinning::fire::wink:


#92

Yes fillpot it was a major buying opp that disaster. The ABC correction completed about a month after the disaster…a big 3 year correction ended.

TOT

The current ABC correction in VRS that you see is only half of the fall.
To understand why this is…you need to be an experienced chartist.

Good luck…and i’ll shut up now.

PJ


#93

Hahaha … see Mystic Meg has spoken … oooohhh …sorry … the experienced chartist has spoken … you just don’t have the dark arts ToT … that’s what it is… :wink:


#94

Hearing should have kicked off at 15.00hrs our time.


#95

Somethings out PUDDY on LSE 18 page doc.


#96

Oh to be a fly on the wall eh?!

OOC settlement seems favourite
Why else file the stay application with so much riding on this trial?

A draw with NY delayed senior debt and the way paved for the future drill programme, BHGE and BP announcements

I say draw, rather this outcome is a winning draw in cricket parlance with FRR picking up the batting and bowling points!
:cricket_bat_and_ball:

Yummy :yum:


#97

StarRage LSE just now!!

“Interim injunction has been discharged. Plaintiffs have no case. Game over I’m afraid :-(”


#98

I’d wait and see the whole document which is availible to download for $13 for everyone.

Puddy copied and pasted that Hope has been restrained from enforcing the mortgage.

There’s 18 pages so there’s plenty to say.


#99

As I said the evidence presented amounted to gossip and tittle tattle.

Can Nicandros and Zaza really be that stupid or were they just clutching at straws.


#100

https://1drv.ms/b/s!Ak7gVwQ3mttlkhUi6EruBq0f3BjH

The ruling was delivered 22/01/2019, they’re in court today with the judge saying in the three week old document that they should look at commercial compromise!

So what really is going on? Or am I misreading this?