The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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There’s a loose guideline from the SFO that they will only look at cases ‘involving 10’s of millions of £’s’ and so it could then be that the c.£9M that the Pi’s spent, does not meet their criteria, for those that believed the Onitor phase was a scam (extremely difficult to prove) and used this as core to any complaint.
The 2nd phase then saw an alleged SaaP & DaaP deal arising off the algorithms that Onitor used (from 7 years ago) and with this, there are then ctag notices pertaining to $50M having been deposited & which are supported by the monthly updates of ‘the cheques are in the post’.
This too likely fails to meet the SFO criteria for a ‘serious or complex fraud’ with any possible non-payments of dividends / income, then being relegated to either a civil court claim for a fraud claim centred on tort of deceit (balance of probabilities) or via criminal court (beyond reasonable doubt).
As it currently stands, there exists a very high probability that the next ABH notice will again correlate to ‘the cheque is in the post’.
I had a thread of belief at one point we might be paid. The fact he hides behind these updates and the supposed NDA just adds to the frustration because we know he has probably fabricated the whole thing.
It was my comment!
1984 you realise no one is building any payment portal. That was simply a throw away comment much like many others over the years such as implementing their own blockchain (LOL), daap announcement, simultaneous contact etc etc etc
I’ve got an idea too, instead of penny pinching hiring cheap incompetent poles/Indians to build his payment portal, hire someone competent and it will be done in a fraction of the time (and cost)
Whilst we were addressing the remaining anomalies, we found there were further anomalies which required further investigation. These anomalies were not not evident two years ago when we started this process, we have, however, decided to have a short pause to investigate these anomalies which are causing anomalies with the payment date.
"Over 2 weeks since the agents where emailed by shareholders and not one response..."
Slight amendment, over 2 weeks since shareholders emailed Amit and he 'supposedly' passed the emails along.
All I can fathom is the agents all broke both of their hands and fingers and thus can't type or use a phone. Seems completely plausible doesn't it.
Over 2 weeks since the agents where emailed by shareholders and not one response...
Wonder if we will get our next delay this week.... how exciting.
There is an interesting item on the SFO website menu - ‘Our Cases’.
The ones I clicked on seemed to be ongoing after 5 or more years.
Whispering, you are quite new to the conversation here – joined on 24th February 2024 and appear to be firmly in Amit's corner. Would you not agree, that it is a shade disingenuous that he has promised payments for over a year, and keeps rehashing updates, which are effectively the same information over and over again?
"30th March 2023
The Company would like to advise that the funds for the licensing agreement have been successfully deposited in an escrow account. The proceeds of both transactions shall be distributed simultaneously upon announcement.
The Company understands that the announcement for its DaaP sale will be made by the 5th of May 2023."
Nothing has been paid and now there are NO dates for the proposed payment/s.
"The Paying Agent is continuing its work to resolve some final remaining anomalies with the share capital book, which it expects to do in a timely manner, before it commences all notifications including to brokers."
What's a timely manner given we have been waiting over a year plus now?
" I've heard nothing presumably means that they have no evidence of fraud or wrongdoing"
As if they've had time to look into everything in that timeframe, what world do you live in.
Nothing can be currently verified Spkie, perhaps context of conversation was lost on you
Whispering 16:07: “I heard Amit invested c2 million of his own funds…”
? and is there any independently verifiable, public domain evidence to support that?
… it would be far more interesting imv to know just how much money amit has taken *out* of cloudtag over the last 8 years or so ….but i don’t think amit’s going to provide any independently verifiable answer to that.
Lol, but not quite bud, more the ‘wee shuggie’ with a healthy mix of the Black Douglas (wolf of Badenoch) when he then finds a bee in his bonnet.
IF you take anything from tonight, then take ‘the debt owed’ and its legal standing.
Oh ok Doug obviously you know better than the SFO or action fraud , can I suggest everyone just write to big Doug and he'll sort it out, don't know why we didn't just do that in the first place
Dougie
My understanding - and correct me if I’m wrong - shareholders contacted the SFO, amongst other agencies for verification that Amit/Cloudtag is legit?
Now you’re considering/suggesting that the SFO perhaps aren’t fit for purpose?
Tony T., per your ‘ahead of the curve’ which then sees you as the most recent shareholder to raise your concern to the SFO. In other words, right at the very back of the curve.
And what you then spectacularly miss is the subsequent posts questioning the integrity of the SFO senior managers, past & present.
A “keyboard warrior” indeed.
Raises the question as to what offends you the most : Pi’s posting their opinions or Pi’s finding fault with ABH ?
Whispering. Pretty sure there is no payout due to there’s no deal and obviously no money. Nothing he’s said in what aleast 7 years has any truth.
Jeez dougb, not every post is about you much as you'd like to think you're Mr big guy. The point I'm making and you're spectacularly missing is that if the SFO aren't interested in what would amount to a serious fraud given the amount involved ( and they would be) it's hardly likely that the brains of Britain on this bb are going to be ahead of the curve. And nowhere did I imply that I am the only investor to have contacted the SFO and/or other interested agencies. I'm aware of dozens who have done so and not one has had any further contact
Shareholders have a right to know - an explanation of what exactly is preventing a payout
The SFO chair, has likely not improved.. it is now the ex chief constable of the local home county, who has taken on the role. Apparently a 3% success rate for solving burglaries is considered sufficient.
Dougie
The SFO nor the FCA need a dissertation from shareholders… They need name, subject, concern. Pretty sure they can quickly google (or thoroughly investigate) whatever else they need to know…
Call me illogical.. :)
You so very quickly revert to nonsense. Or a sharper man than myself might consider the cat has got her claws out ?
The subject was centred on your opinion that SFO had effectively signed off ABH with ‘no evidence of fraud’.
I highlighted Tony T’s shallow depth of understanding and his likely shallow request of the SFO.
The two issues are related.
Not sure how he gets out of this with all the false updates and emails from cloudtag/ ABH stating apparently( at not proven at this time ) untruths. I’ve several including how he changed jurisdiction in the caymans. And more besides.there’s a massive paper chase with other pi s. He’s not that clever enough to cover all his tracks legally. So what exactly is his plan?