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It reads like this was the plan all along, it's unreal. "Can now move forward", like all the shareholders were a burden.
The guy needs some sort of comeuppance either here or elsewhere in life: "I am proud that we are able to reward our ambitious and industry-pioneering team and have them as shareholders alongside myself,"
To write that you are proud while presumably thousands are suffering is utterly utterly disgusting. I don't even hold here but I'm angry on behalf of you guys that did.
Perhaps they couldn't care less about the shareholders. Some may say that message shows the qualities of the person who posted it.
Wow how can they put that post out on LinkedIn with no mention of shareholders!
Alliance News
Fri, 22nd Mar 2024 16:03
Bidstack executive team buys Bidstack Ltd assets from administrators
The executive team of Bidstack Group PLC has acquired Bidstack Ltd and all the operating entities of the group from the administrators, according to Bidstack Group on Friday.
London-based in-game advertising company Bidstack Group said the deal for an undisclosed fee sees Founder & Chief Executive Officer James Draper and the executive team of Bidstack Ltd become significant majority shareholders.
The executive team includes Lisa Hau stepping up to chief financial officer, Dave Garvey continuing as chief legal officer, Will Stewart moving to chief product officer and Daniel Barrigas to chief technology officer.
Bidstack Group said all contracts and client relationships will continue within the new ownership structure, which it said would safeguard jobs for the UK and European-based staff.
"The acquisition is a pivotal moment for the next phase of growth for the business. Our technology is at the forefront of sports technology, and I couldn't be more excited. I am proud that we are able to reward our ambitious and industry-pioneering team and have them as shareholders alongside myself," said Founder & Chief Executive Officer James Draper.
"The company can now focus on the enormous potential we have, to enable sports teams to get closer to their fans and improve the player experience by bringing their virtual [intellectual property] to life, with real-time messaging, rewards and engagements."
Shares in Bidstack are currently suspended as it is in administration.
By Greg Rosenvinge, Alliance News senior reporter.
I am assuming that posters here have read this as it is shown on this website. I certainly had read it before posting my recent comments.
Maybe an apology for my tongue-in-cheek posts is in order, especially to those who have lost money here, whether big or small amounts.
Having said that I was always very wary here and I could never see what everyone was raving about and I posted as much a number of times over the last few years. To me, there was never any revenue being generated nor was the revenue ever increasing and the only thing keeping the company afloat were the continual placings.
Unfortunately, that is not going to change and Draper will now stupidly be allowed to do the same all over again and lose the next set of investors and shareholders all of their money all over again. Shame or rather shameful.
Maybe they could have tried this trick on at Wilko, a store that I found quite useful and certainly miss. Maybe they could have put the old business into administration and then the owners could have bought it out of administration for £1 - the usual figure in such transactions - and then just continued with a business-as-usual sign in the window. In that instance, it would have been the banks that would have lost all their money, rather than the shareholders as here, as Wilko was still a private company.
It's quite criminal what 'respectable business people' can get away with.
I was not invested here as I always considered that this was not a profitable business and it still won't be even in another incarnation. Bit like Cineworld who managed to make all the debt and shareholders disappear so they could continue the same old misery.
That LinkedIn post is utterly unbelievable, gloating about robbing everyone and moving the company forward privately with no mention whatsoever of the peoples lives they have ruined in the process. I haven't never seen anything so brutal on aim before
Just an idea. Maybe Draper and his administrator buddies should keep the listing going and get a new nomad and keep the shell going and then they can RTO what they have bought from the administrators into the shell with just the cost of a new ticker. That will save them some money and a lot of work and effort getting a RTO sorted. Effectively they will have got rid of all the old shareholders and nulled the value of any previous shares and then they can start afresh. If only life was so easy.
The final F--k Y-O for shareholders is the resignation of the Nomad and the company stating that it has no intention of appointing a replacement- so shares will be delisted in a month, no cash shell this time around.
VST Statement of capital following an allotment of shares document is currently in settlement. Be interesting to see in the coming days the final ownership structure. I can't see how those strategic investors/ large shareholders have just rolled over and let this go unless they are the ones providing the new finance and can afford to let it go because they stand to gain much much more now than the single digit millions put into Bidstack ? Just thoughts
Get some of the video game youtubers to do an expose, some of them have sizable followings
WoW! This is the most shameless day light robbery I've seen since Poly Peck scandal. Infact poly peck incident was nothing compare to this!
Investors who lost a fortune MUST report this Draper to SFO, FCA straight away. He robbed you all.
So draper and co steal usd 45mil from the market.
Unbelievable how this can even be allowed.
Feel sorry for people that “invested” more they can lose here.
AIM is one big con…..doesn’t seem to be any governance what so ever…..the poor poor investors get shafted every time….no more AIM companies for me….
I told you all last year how this would play out... sorry of those genuinely sucked in but I got a lot of abuse for the following :
29th Sept 2023 'Simple answer - draper secures the tech on a three year licence deal ...this company de-lists in which case the licence still stands but the payables become a grey area if this company goes into liquidation. in simple terms there is a life raft leaving but Mr Draper wants you to believe he is still the captain of this ship.... seems to me he is holding oars already ...'
Https://www.linkedin.com/posts/jamesdraperlinkedin_im-delighted-to-share-the-following-london-activity-7176929097665662978-ih7c/
I'm delighted to share the following:
LONDON, 22nd March 2024 - The executive team of Bidstack is happy to share the news of their acquisition of Bidstack Limited and all the operating entities of the Group, from the administrators of Bidstack Group PLC (in administration).
All contracts and client relationships continue within the new ownership structure, safeguarding jobs for the UK and European-based staff.
Bidstack, the multi-award winning in-game middleware technology provider, that initially set about bringing programmatic advertising revenue to the most renowned sport gaming franchises in the world, has diversified into a broader offering taking advantage of the most advanced off-engine content management system in gaming.
Following the announcement of a partnership with the Washington Commanders, where the NFL franchise was the first ever sports team to utilise a platform to control advertising within their virtual stadium, across official NFL games, from multiple studios and developers, the management team has been focusing on sports rights holders as a key customer type.
The executive team has the support of the world’s leading rights-holder professionals in the sport industry.
The executive management consists of James Draper continuing as Chief Executive Officer, with Lisa Hau stepping up to Chief Financial Officer, Dave Garvey continuing as Chief Legal Officer, Will Stewart moving to Chief Product Officer and Daniel Barrigas to Chief Technology Officer.
James Draper, Founder/CEO said:
“The acquisition is a pivotal moment for the next phase of growth for the business. Our technology is at the forefront of sports technology and I couldn’t be more excited. I am proud that we are able to reward our ambitious and industry pioneering team and have them as shareholders alongside myself.
I want to thank the staff and customers for standing by us during this strategic review, which has obviously been an uncertain period. Sadly, the public market is an uncertain place currently and it’s a challenging environment for growth businesses such as ours.
For all of our customers to have stood strong alongside us is testament to the relationships we’ve built over the years, as well as the incredible staff we have here who have fostered those connections.
The company can now focus on the enormous potential we have, to enable sports teams to get closer to their fans and improve the player experience from bringing their virtual IP to life, with real-time messaging, rewards and engagements.
The interest and support we’ve had from some of the leading players in the sports industry has given our team great confidence and motivation as we work with some of the world’s largest sporting franchises and leagues.
Thank you to everyone’s support and to our Board of Directors, w
Draper runs off with the money in his other shell company. He deserves a lynch mob.
Goodbye x
Thats it then 100% its over and done goodnight
Whats this https://twitter.com/bidstack/status/1771166620515254637?t=vydqh-8tbYjUeBl1k-IHsQ&s=19
Hey just saw the rns...I was in bidstack sometime last year carnt remember why I got out but I don't think I had any major concerns.
Too many companies on aim doing this, so sorry for you all...it stinks I really carnt understand how bod get away with it. Not much else I can say really.
The thing is you can still get multi bags in profitable dividend stocks, but you have to do more than buy in off some Twitter or bulletin board ramping, and I would add to the list to only buy from companies with a director with a proven record
Did I read in an rns that he'd set that up to safeguard shareholders?? I know it's lies(99%)
draper is a snake.
unfortunately there have been others that bet big here off the back of drapers bull ****ting.
rns now confirms bidstack is dead.
so this ends the dreams of helx 2.
this was definitely my last last aim share.
too many scum bags running shoddy businesses.
stick to divi income shares.
Awful, I'm so sorry to read that MrPatience. Hope you are good and your family life makes you realise the money ain't all that important.
Disgusting how CEOs see faceless investors as free money for them to exploit as they wish.
Yes girdz suppose so,I saw the adverts and the collaborations and partnerships and of course price history and the price I got in at. Did some research but was just a punt for me not lost a lot ..2k. Im hoping kodal mining and abingdon health make me richer. I got in at the bottom on those two beauties.