The August RNS was about heads of agreement (non binding). That is no where near a contract, just a more formal expression of interest. Given the length of time since then, I am surprised that SEO havent clarified the status of this "deal" that isnt actually a deal, much like all the othewrs at this point in time.
At least the company has some more cash for a few more days given the options exercise. I wonder if the son of the FD wasnt short before hand and th 7500000 havent in fact already been sold via the short/cfd in place before the RNS? After all, there would be no selling of the 7500000 shares if the short/cd was in place before hand now would there?
Paul seems unable to do anythng other than cut n paste whilst ignoring the reality of a company with bugger all cash, legal costs still to be paid (fr SEO and BPRG) and a possible damages claim. Things are so desperate that the Cardinal money (a lot less than expected) isnt even going on INgel but "commercialising" tray lidding i.e. keeping us afloat for a few weeks more.
Remember also, if the potential is so great, why did IB sell all of the shares from his option last year when he could have retained a lot of them even after paying back the financing of the exercise and any tax? Well, he didnt, he chose to bank £600k odd in clear cold cash profit. SOmehow Paul, I think the CEO knows more than you.
My guess a fund raising with the results in January.
Possibly a delay in the results till the damages issue is clarified. Afterall, as long as they can hide the parlous state of the balance sheet the better. It allows them to issue hype RNS' and support the price whilst sorting out the fund raising.
Dont get me wrong. The tray lidding looks like it may be an interesting business but the company needs a big injection of cash first. Unlike Jarvis, SEO doesnt have assets to sell.
Oh, of course, I forgot. Paul has me filtered (only need to do it once dickwad) so he wont be able to read this.
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