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Back where we were end of last year. I hope the movement is lack of news rather than news
Atalanta, please let us know if you hear anything back on your questions.
Good digging PF, I certainly think the BOD should be clear on the legacy arrangements / holdings as well as those instigated more recently by Ivan
Well, the rabbit warren runs deep, but there does appear to be quite a bit of upside here, although admittedly still questionable at the moment. First of all, the RNS for agreement to services specifically mentions Melken Group (not Merico), although Merico was specifically mentioned during the shareprophets talk by Ivan Couchman. It seems clear then that Ryan S Thompson is playing a major part in Insetco's near term future. The other company mentioned in the agreement to services is Quantus Income Opportunities Corp. Looking back in history at some of Insetco's older RNS's I have found in 2010 a life insurance administration deal they struck with a company called Dematco (link here http://www.investegate.co.uk/insetco-plc--inc-/rns/re-contract/201005261244165764M/ ) (and a news article from 2011 about their dealings here http://insurancenewsnet.com/oarticle/2011/12/19/dematco-announces-order-to-dematerialize-additional-%24100m-senior-life-settlement-a-315697.html#.VNpq3_msXuV ). The news article & RNS's sound remarkably similar to the recent announcement don't they ? Now the thing is Dematco who Insetco have been involved with in the past bought heavily into Quantus Group back in 2011, first agreeing to a revenue sharing deal (news link here ( http://www.hedgeweek.com/2011/10/04/132900/dematco-announces-revenue-sharing-agreement-hedge-fund-quantus-investment-corp ) and later that year actually buying into them (link here http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9s08q3fqRB4 ). So Insetco clearly have form dealing with these companies in the past. In 2013 Insetco recorded an impairment loss of £1.7 million regarding a reverse acquisition they were involved in with a Jersey based company called Saolpoll (link here http://www.stockmarketwire.com/article/4080196/Insetco-to-acquire-Saolpoll-in-reverse-takeover.html ). Was it this reverse takeover that caused their problems ? Does anybody know anything about Saolpoll ? Clearly, management were having difficulties in agreeing a strategy back then when the share price was in the 20's, 30's & 40 pence regions. We can only hope Ivan Couchman has a level of focus & integrity required to take Insetco forwards. More transparency would be good though. Canada and North America certainly seem to be the markets Insetco are targetting because of course there is also the 10% investment Insetco have made in the Canadian Life Settlement company Ontario Inc (link here http://www.morningstar.co.uk/uk/news/AN_1406807356719987800/insetco-acquires-10-stake-in-canadian-financial-services-business-.aspx ). It's difficult to understand the true nature of what's going on here, but obviously the fresh directorship blood is hopefully a positive sign. We will see. Any further productive research or comments will be appreciated.
Well, the rabbit warren runs deep, but there does appear to be quite a bit of upside here, although admittedly still questionable at the moment. First of all, the RNS for agreement to services specifically mentions Melken Group (not Merico), although Merico was specifically mentioned during the shareprophets talk by Ivan Couchman. It seems clear then that Ryan S Thompson is playing a major part in Insetco's near term future. The other company mentioned in the agreement to services is Quantus Income Opportunities Corp. Looking back in history at some of Insetco's older RNS's I have found in 2010 a life insurance administration deal they struck with a company called Dematco (link here http://www.investegate.co.uk/insetco-plc--inc-/rns/re-contract/201005261244165764M/ ) (and a news article from 2011 about their dealings here http://insurancenewsnet.com/oarticle/2011/12/19/dematco-announces-order-to-dematerialize-additional-%24100m-senior-life-settlement-a-315697.html#.VNpq3_msXuV ). The news article & RNS's sound remarkably similar to the recent announcement don't they ? Now the thing is Dematco who Insetco have been involved with in the past bought heavily into Quantus Group back in 2011, first agreeing to a revenue sharing deal (news link here ( http://www.hedgeweek.com/2011/10/04/132900/dematco-announces-revenue-sharing-agreement-hedge-fund-quantus-investment-corp ) and later that year actually buying into them (link here http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9s08q3fqRB4 ). So Insetco clearly have form dealing with these companies in the past. In 2013 Insetco recorded an impairment loss of £1.7 million regarding a reverse acquisition they were involved in with a Jersey based company called Saolpoll (link here http://www.stockmarketwire.com/article/4080196/Insetco-to-acquire-Saolpoll-in-reverse-takeover.html ). Was it this reverse takeover that caused their problems ? Does anybody know anything about Saolpoll ? Clearly, management were having difficulties in agreeing a strategy back then when the share price was in the 20's, 30's & 40 pence regions. We can only hope Ivan Couchman has a level of focus & integrity required to take Insetco forwards. More transparency would be good though. Canada and North America certainly seem to be the markets Insetco are targetting because of course there is also the 10% investment Insetco have made in the Canadian Life Settlement company Ontario Inc (link here http://www.morningstar.co.uk/uk/news/AN_1406807356719987800/insetco-acquires-10-stake-in-canadian-financial-services-business-.aspx ). It's difficult to understand the true nature of what's going on here, but obviously the fresh directorship blood is hopefully a positive sign. We will see. Any further productive research or comments will be appreciated.
There have been some very large lots looking to sell. I wouldn't be surprised if these were by the owners of the loan note that was recently converted.
So the Melken investment in the RNS could be Merico?
looks like ryan s thompson has registered 4 companies from 1 address in canada recently, Merico, Orbit capital, Melken group and LifeLend inc. Must be a busy man or the new wolf of wall street.
Anything on Ryan S Thompson ? https://opencorporates.com/companies/ca/9117032
I have some questions on Merico which I hope can be answered: Merico appears to have been incorporated in December 2014 so not sure how they can claim on their website that their clients come from nearly every corner of the globe. What stake has been taken in Merico and how much was paid? What due diligence was undertaken to establish whether the investment was worthwhile? Why has there been no rns on the acquisition of a stake in Merico? Who are the people behind Merico? Does anyone have any evidence regarding what Merico has achieved for its clients to date? What happened to the agreement with QIOC and Melken announced in November 2014 as no mention of either of these companies was made in Ivan's presentation?
I saw him present in person, deeply unimpressed tbh, I walked by.
???????? Jezz. sell offs? Metal
I remember being here a few months ago when it went down to 0.05 and jumped up incredibly a month later. I bet this hits 0.05 again and does the same thing.
Indeed mate... Obviously I am down, but I bought in after researching Ivans credentials in turning companies around, and he has an impressive CV, so was worth it for me putting £1k in and leaving it for him to do his thing, so notning really has changed.. If he does turn things around, things will shift in the blink of an eye, but as always that's the risk with this type of share, the sp is where it is for a reason !! The 30k back will be a nice boost when it comes anyway !
Hi there! It was good to see the presentation by Ivan on ShareProphets - he spelt out where we're at and where we might be going soon. However, we're really at the mercy of Merico and how good they are at selling it appears. We don't have any way of generating business on our own yet so....just got to wait and hope these initial contracts work out. Unfortunate about the 'delay' and we all got in too early it seems.
No tax payable on HSBC account presumably? :)
III and HSBC..
Time to change the broker then ? I can now sell 7m at one go @0.0915 . ( morning they were quoting 0.08p) Metal
I've just spoken to Barclays Stockbrokers 'A business decision not to trade this stock any more- clients may sell their holding" Not been able to buy for some time but only just found out why. I've not come across this before - should I be worried?
Ivan said that annual operating costs are £250k, so that eats up the money from the first contract. The value is in potential for future deals, which would have minimal incremental overheads + assets (stakes they have bought in Canadian firms) - loans outstanding + 500k value of an aim listed shell Whichever way you look at it, at £1m it Is almost a free option on future contracts
assuming no more contracts flow in this quater ( UNLIKELY) > Shares in issue - 1000m > 300k ( $ ) to be received shortly plus 75k($) to be received before Q1 ( 300 divided 4 ) thats about £227,000 . Take 40% out as expenses . Now that leaves us with £136000 Sp should be 0.136p minimum !!! What am I missing here ? Metal ?
and waiting mate
is everyone on early lunch ? Metal
+4% Not a bad start Metal
Just rewatched the ShareProphets presentation, unfortunately Ivan didn't come over any better the second time. It's a shame that Barry didn't get a turn to speak. Has anyone found a decent explanation of PPP? Until this is clearer I believe that there are too many question marks around the company.