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There is an April update on the companies web site; I can not see any good news in the release. More confetti has been issued. Mr Barnes now owns 5% of the shares and Mr Levi 21.4% The number of shares in issue is now 6,449,299,416. Previously 4,796,620,000 More dilution. You can read all from the link on the company's web site; hTTp://www.seftonresources.com/
Once a thug.......
I want to know is are we still a going concern or not?
If Bmd can resurrect this i will ????
hTTp://guerillainvesting.co.uk/2015/07/10/sefton-resources-we-have-a-new-way-forward/ Extract; "Any changes on Sefton, could involve bringing in further assets from the Bahamas if the Indonesian deal fails to complete. Assets that we are actively negotiating." hTTp://guerillainvesting.co.uk/2015/10/12/sefton-resources-i-accuse-allenby-capital-of-leaking-inside-information/ Extract; "Allenby have over a considerable period of time not only been shadow directing Sefton, (which is in breach of their own as well as Aim Regulations and the Nomads code of conduct) but are guilty of maliciously leaking information to Winnifrith as part of their concerted smear campaign to thwart shareholders from installing a new board with new assets. Assets that are located in the Bahamas with a 4 Billion barrel recoverable resource potential." +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Good news for Dan!. Those assets are still available; hTTp://www.malcysblog.com/2017/03/oil-price-far-limited-rockrose-energy-igas-energy-solo-oil-plus-links-savp-sdx-igas-finally/ "And Bahamas Petroleum announced that the Government has extended their requirement to drill a well from April 2017 (clearly a non-starter) for another year. Patient shareholders are told that a farm-out or similar, ‘remains in advanced discussions’ for funding or operational partners. This sounds a tad more optimistic but as usual one shouldn’t stand on one leg waiting for it to happen…" ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ The bad news is they are still looking for a company with about $60 million for an EXPLORATORY drill. hTTps://www.bloomberg.com/news/articles/2013-04-19/bahamas-expects-to-strike-oil-even-after-cuba-exploration-failed +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++= How did the negotiations go Dan? lol I award BMD BrokermanDan the award for the most ludicrous pumper and dumper of the decade.
cant believe that anyone is still asking that question. The answer is of course yes and I wrote it off long long time ago. How you would expect this company every having any value? To all extent and purpose it is as dead as the famous parrot in Monty python's sketch!
yes
Have i lost all my money?
On this occasion you've got to say come on Dan.
Sefton Resources Progress Update 14 March 2017 1/ The company are pleased to announce that the third and final outstanding court case in the USA, brought by the vexatious former Director John James Ellerton, has been dismissed with prejudice by the courts. The company will now seek legal advice on further punitive damages and compensation against Mr Ellerton. 2/ Sefton are currently in negotiation’s regarding a small producing oil asset on the African continent. Circa 100bopd. Due diligence is proceeding. 3/ The net cash balance of Sefton Resources has risen to £144,000. 4/ Due to the complexity of Seftons current banking arrangements third party payments cannot be made on invoice from the Forex account. The CEO, Daniel Levi, has agreed to personally pay down outstanding invoices, particularly USA legal fees. Mr Levi will be reimbursed once suitable banking arrangements are in place. 5/ New Directors have been approached and will be on-boarded over the coming months. 6/ A new brand logo reflecting the company’s determination to battle in the face of malicious adversity will shortly be incorporated. The company would like to take this opportunity to once again thank Mr Chambers and Mr Hodges along with our USA legal counsel for their sterling work on behalf of all shareholders regarding the US court case win. Once again, the company reiterates that it will take on and fight to the bitter end those who have attempted to subvert, with lies, the true state of affairs within Sefton Resources. The gloves are off! Sefton Resources Inc. Registered Office: Harney’s Corporate Services, PO Box 71, Craigmuir Chambers, Road Town, Tortola, British Virgin Islands A British Virgin Islands Company For and on behalf of the Board. Daniel Levi Chief Executive Officer Sefton Resources Inc. Sefton
VIVA DAN! !!
Have not checked this BB for awhile. Had a good laugh when I read about the thug who spent 16 years locked up in prison. ".... also came to Seftons' rescue later in 2016." What rescue? Have I missed something? More likely a case of coming back to clear out whatever is remaining in the bank account. Has experience of taking money from banks.
Directors profiles as can be found at; hTTp://www.seftonresources.com/about/management.aspx Mr Daniel Levi Chief Executive officer Sefton Resources Inc. Daniel is a well known figure within City of London financial markets. A successful high net worth investor who does not suffer fools gladly. Over recent years he has been involved at the forefront of share holder activism. A former Sefton Interim Executive Director who came to the company's rescue in February 2015 organising a refinancing and negotiating down of over $8,000,000 of debt. Dan also came to Seftons' rescue later in 2016 when it became apparent that the Board left in charge to bring in assets, that only needed a signature, had not only lost most of the money but had lost it's way. Daniel organised an EGM which went uncontested. He returns to Sefton as the single biggest share holder. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Raises interesting questions; How many shares does he own in the company now? From the 21st February 2017 press release; " I myself have personally invested the sum of £15,000. The current cash position of the company is circa £130,000." How many shares did he get for the £15,000? Has the number of shares been diluted? There were 'only' 4,796,662,000 shares when they dropped off AIM. How many shares are there now.? Look forward to seeing the accounts with a list of major shareholders and just how many they hold. .
On 23rd October 2015 Trading ceased. Team Clem were in full control. At the time an rns was issued stating the cash position was $504,300 or circa £320,000. Daniel LEVI states that the current cash position NOW is circa £130,000. Assuming that Daniel LEVI is telling the truth; then Team CLEM spent £190,000 in cash. Despite continual denials it is clearly evident that Team Clem WERE spending £10k a month through their tenure, and its unaccounted for.
I keep reading this line from Clem and it is very odd; "They have invested at a small premium to the projected value of the company’s net cash, £15,000" Why didn't Clem state how much cash they had? "a small premium to the projected value of the company's net cash" means that £15,000 is a bit larger (premium) than the cash held. Clem avoided giving a number , why? Why didn't he keep his promise to publish accounts? Everyone will just have to accept Dan's word on the cash position. This £15,000 raises questions in itself. Why did BMD have to invest £15,000 if SER is so cash rich with £130k soon to be bolstered by £250K? What does BMD get for his £15k? How will people be able to value the shares and sell them in this unlisted private company. Who will be managing the shares? Clem was the great hope with all his wonderful connections and yet failed and was proposing wind up. If that happened in 2015 shareholders would have gotten significantly more back. Will just have to see what happens next. Never a dull moment. Will Share Prophets comment on the news?
Good statement from SER. We're still alive. Love the warning at the bottom of the statement. That should keep the idots away. We all know who they are. Good luck dan. Do us proud again.
Where's all the bloody money gone? Clem's robbed us which we kinda expected but to add now Dan Levi's back! The drama at Sefton continues. Let's see how the bank robbers going to fleece us again.
On 1st september 2016 Clem wrote; I have been asked to update you on our money/cash situation. As of writing, including our legal insurance cost refunds and after extensive work reorganizing the company structure with associated costs, we have approximately £300,000 in cash and cash receivables (£190,000 in cash and $140,000 via the lien). Our overheads are now small so we have time to look for the right opportunity. When that opportunity does arise I will of course let you know. http://www.seftonresources.net/news/pressreleases/Sefton%20Update%2001-09-16F.pdf In the 6 months since, where has all the money gone? We learn how much has disappeared from this line today; "They have invested at a small premium to the projected value of the company’s net cash, £15,000."
What!! "They have invested at a small premium to the projected value of the company’s net cash, £15,000." OMG! Is that all that's left? So they were blowing more than ten grand a month. Scandalous . Ten months on from promising the accounts clueless Clem passes the scant remains to BMD. The continued absence of any accounts is outrageous. Any shareholder should ask has happened to all the money and how much they have been further diluted by the new interest.
So a 5 or 6 means i may make money??
last throw of the dice, much better than returning 1p in the £ to shareholders IMO
Sefton Resources Inc Statement In our last update we informed you that we would be making a distribution of spare cash and closing down the business. This was due to the scuttling of opportunities we had lined up, by a small group of shareholders who threatened but did not deliver an EGM. This scuppered our efforts as no one will fund or enter a material deal with a management on the brink of being replaced. This threat therefore made the continuation of Sefton unattractive. A number of shareholders consequentially pleaded with us to do something with the business rather than shutter it and pay out nominal sums to shareholders, but we felt unable to take this tack. Subsequently we were made an offer of an investment in the company that would break the stalemate and inject new prospects for the business. As you may well be used to by now a random problem struck. This opportunity was halted by the intervention of our legal insurers who have decided to cease paying out our legal costs and contest the situation and throw the whole situation into flux. Happily after a delay and further discussions we have come to terms with the proposed investors. They have invested at a small premium to the projected value of the company’s net cash, £15,000. They have the support of enough shareholders to command what amounts to control, through their ability to invoke an EGM and place themselves on the board and replace myself and Michael Hodges as directors. However, it was their willingness to put cold hard cash into the company that made us open to their approach. They have requested to replace Michael and I and we will be stepping aside as directors, for them to take over taking the business forwards. The party in question is Dan Levi and Mike Barnes. Dan Levi should be well known to you while Mike Barnes is an FCA regulated wealth manager. Mr Levi having rescued Sefton from the teeth of collapse in early 2015 is keen to try to do the same again and from my observations and experience of working with him over that period I can say, if anyone can, it would be Mr Levi. Mr Barnes is not known to me but as a regulated person that credential is good comfort. Mr Levi has significant support from Sefton shareholders, enough to carry or vigorously oppose any EGM, has intimate knowledge of the business, a record of turning this company around in the past and the will and energy to try and do so again. As your retiring board we think that this is the best prospect for shareholders.
Out of the frying pan... into the fire?? We shall see... only time will tell.
Shhhhhhhhhh! !! you'll wake up the numpties 😂😂😂😂😂😂😂😂😂😂😂😆😆😆😆😆😆😆😄😄😄😄😄😄😄😛😛😛😛😛😝😝😝😝😝😝 VIVA DAN! !!
Is back....