If you owe the bank $1 you are in trouble, if you owe it $8.3 million its in trouble (but so are you!)
By Tom Winnifrith, the Sheriff of AIM | Monday 2 October 2023
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.
I refer, of course, to Vast Resources (VAST). It owes two death spiral providers $8. 3million and in early September managed to get the sharks to agree to defer repayment to 29th September which was Friday. When I was at Oxford I’d tell fragrant Sally from Barclays on Cornmarket Street that I was expecting a cheque from my Dad to clear the overdraft. And she believed me! Again and again and again. Those were the days. That untruth bought me another month to think of another cunning plan but why bother when the first one kept on working!
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