Results: VLTY

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EPIC VLTY
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Veltyco – creditors “materially in excess of the group's current cash resources”… and that’s not all…

Previously writing on Veltyco (VLTY), in September I noted the shares rising above 4.5p though it’s ‘keep the lights on’ funding – and possibly still not for very long and it still, even from an increased to £3.75 million market cap, remains good luck! – I certainly continue to avoid. Today a “Trading Update” commencing; “Trading within the group's Bet90 sportsbook and casino business, in which Veltyco has a 51% interest, continues to be in line with management expectations, with Bet90 achieving its highest revenues since launch”. The shares have currently responded, er… to around 1.875p, approaching a further 50% lower on the day!...

EPIC VLTY
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Veltyco – a new loan “convertible… at a price of 8p per new ordinary share”. BUT...

“Convertible Loan” news online marketing and operating company for the gaming industry, Veltyco (VLTY) “is pleased to announce” – with the announcement including “the convertible loan is convertible at any time by the noteholder at a price of 8p per new ordinary share… the convertible loan will automatically convert into ordinary shares if the closing mid-market price of an ordinary share is 15p or more for 25 consecutive business days”. Ooooh – 8p and 15p hey!, with the shares then 3.2p – they currently rising above 4.5p. However…

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