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Deepverge needs a statement as 16th looms and it can’t repay £500,000: Does bloody Sunday lie ahead?

By Tom Winnifrith, the Sheriff of AIM | Tuesday 11 October 2022


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


On the 16th of this month Deepverge (DVRG) has to repay £500,000 in cash to alternative finance provider Riverfort. And then the same again on 16th November, December, January and February before a final loan repayment of £1.5 million in March. Guess what? Deepverge does not have any cash. It is running on vapours and so will only survive into 2023 by drawing down more Riverfort debt. Now how to solve this?

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