Infrastrata (INFA) provided a trading update on Thursday. Several matters caught my attention and given I have not had a good opinion on this company in the past I thought I would properly consider the content just in case things had improved. I was not surprised, if anything it is getting worse and more questionable.
Back in October 2019, I commented about Infrastrata (INFA) making the apparently bizarre move to acquire the Harland & Wolff shipyard in Belfast. I could not understand why the company made that move as it made no sense to me at all. However the full background of the CEO perhaps provides the explanation.
Any time someone registered via this website takes part in a Primary Bid offering we earn a few quid and so for that reason I urge you ALL to sign up HERE as, now and again, Primary Bid has some good offers. Today’s offering to raise up to £1 million at 0.3p from Infrastrata (INFA) is not such an offer.
Infrastrata (INFA) has been trying to get the Islandmagee gas storage project in Northern Ireland into construction for practically a decade. Why the company has bought one of Northern Ireland’s most iconic businesses, in Harland & Wolff, is somewhat beyond my comprehension. Infrastrata doesn’t appear to have any money or ready access to money - perhaps the company lives in a parallel world to the rest of us and can grow money on trees? Or it just likes debt or government handouts?
Whilst InfraStrata (INFA) is considered to operate in the oil and gas sector it is very different to most other companies, as rather than looking to extract hydrocarbons, it is intent on putting them back into the ground.
