BSP:Brainspark - Technology start-up incubator

Well time will tell.

I find it strange they go for these 0% interest convertible loans, why bother? If the share price goes below the conversion price, I very much doubt if they'll be getting their money back if the cash is spent. So why not just go for a straight placing?

Also, why didn't the Venture Capital Firm not just buy into Brainspark shares while they were so cheap - they should have at least taken a position while the share price was at an all time low. I am sure they would have had a lot of takers if they announced an offer of say three million pounds, when the market cap was £0.5MM. And they would then own 51% of Geosim, not the 25% they are looking to acquire for a higher price.

It would be nice to know who the Firm is, but I guess without a firm contract in place Brainspark do not need to disclose. If BSP do have a legal obligation to honour their side of the memorandum of understanding then surely they should be telling the share holders who this large obligation is to. I guess hiding their identity is important to them.

It's a very interesting situation, and you can only hope that this will eventually lead somewhere positive. However clearly everyone's a winner if Geosim realises £10MM + + valuation one day, which is probably all we need to focus on.