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Sefton Resources Inc. Share Chat (SER)


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Spelbound
Posts: 245
Off Topic
Opinion:No Opinion
Price:0.00
RE: spelbound
17 Jul '17
I think you hit the nail on the head Buller - No more new P.I investers can be duped into buying SER. I think i stand for every SER holder i saying that we had written off the investment a long time ago, but where there is still a glimmer of hope we continue to follow with interest.
GL also - are you in many AIM shares still?
 
buller
Posts: 9,031
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spelbound
17 Jul '17
Nice to see you again, hope your other investments are doing well. Yes, I was one of the few that saw what Ellerton was doing at an early stage and took some flack for it :-). Luckily made money on Sefton even before that. I was then duped any Dan before he ran away with a lot of money and came clean on his past. From then on it has just been one long slide, with nothing left worthwhile in the company and for me what we are seeing now is just the vultures trying to grab the last bit of meat of the bone. I would be happy to hear from anyone a scenario whereby the company could get back to paying shareholders even 1 tenth of what they invested. I have lost track of how many shares are now in circulation but let us just say 8 Billion, so just to get back to a value of a tenth of a penny, teh company has to be worth 8 million. That would mean roughly 50 times what we are now and there is nothing to indicate taht here is anything going on that could even double what we are worth today which would get our shares to be worth a 250 th of a penny. Now you can judge what you paid for teh shares and see how far you aware, it is ridiculous to think there is any future for teh company or for our shares.

Even more so if we have to pay 12500 every 3 months to Dani Levi for the "loan". How can that in any way be justified other than emptying the coffers of the company in a legal but totally immoral way. I hope he reports that income as salary to the authorities as it is clearly a benefit in kind at 100% interest.

If you want to keep hoping , good luck, luckily no new innocent investors can be lured into this mess by the irresponsible posting and ramping that went on here for years including by some of those who have now become "directors"
Spelbound
Posts: 245
Off Topic
Opinion:No Opinion
Price:0.00
RE: News
17 Jul '17
Ah, Buller, long time no hear... still spouting the usual. You were downbeat on Ellerton et al years ago and i agreed with you - the guy is a crook. However, you still wont let go of history. SEFTON of Ellertons era is dead, and the NEW SEFTON is totally different. Really, it should change its trading name to dis-enfrancise itself from the past horrors.
Why would the new directors want to shutdown the co. now? they could have wound up a long time ago.
Answer, they are working towards re-couping value to all that were duped by Ellerton, and good luck to them.
buller
Posts: 9,031
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News
17 Jul '17
I see this old dead parrot has had a new life. doesnt mean that I believe it has any value or ever will for old shareholders. There is absolutely no chance that any normal shareholder will ever recoup any of their losses or teh company will ever again become a viable oil company. What it does seem to be doing is emptying the last resources into the pockets of the old boys club, Levi, bailey and some of teh other names that have been involved previously. Just look at 2 facts:

1) the new directors have each been awarded 300 million shares for......nothing. First day of stepping in as directors 5% (or just below,) of the company each. if there is 150k left in the company that is around 7000 pounds present which can be paid out when the company finally wounds up. of course Levi has been awarded 800. million shares so well over 10% of the company so clsoe to 20.000 pounds will be his.

2) Levi lent the company 50.000 pounds in April. This loan is now worth 62.500 pounds 3 months later so is at 100% interest, much higher than Wonga or any other loan sharks around. Another great way of whitewashing money and emptying the last remaining embers out of Sefton.

This company have always attracted greedy selfish directors and owners and it looks like even on it's dead bed there are people raiding the teh last crumbs! RIP Sefton, time to bury this corpse, has been dead for a long time.
MRPlumper
Posts: 1,777
Premium Chat Member
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Price:0.00
RE: History
17 Jul '17
Morning cyan2
Without the authorities seemingly not showing any interest
And like most aim companies pi's not willing to give a opinion
I think you're flogging a dead horse
cyan2
Posts: 816
Off Topic
Opinion:No Opinion
Price:0.00
History
16 Jul '17
Good question MRPlumper.

What a colourful history this company has had.

Who penned this on 29.12.15?

hTTp://www.talkaboutshares.co.uk/articles/

Extract;

"It would appear the previous board made serious errors of judgement to the point of negligence, incompetence and potentially professional malpractice.

There are suggestions that payments were made to third parties that had associations with certain members of the board, that other payments were made to certain people that had not performed the duties relevant to the amount paid and allegations of a financial conspiracy to reduce the company funding in an effort to ensure it had little option but to enter into insolvency."
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
That was about the first management Dan installed.

Was Team Clem an improvement? Clem left a whole set of new questions regarding what happened to the money.
MRPlumper
Posts: 1,777
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.00
RE: BIG numbers
16 Jul '17
So why don't the FCA do something about it
cyan2
Posts: 816
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Opinion:No Opinion
Price:0.00
RE: BIG numbers
16 Jul '17
Yes all must play by the rules.

Did Clem when he 'avoided' an EGM, or when he failed to give shareholders an opportunity to attend an AGM as specified in the companies articles of association?

The new NED'S have duties and potential liabilities;

http://www.mondaq.com/x/221686/Directors+Officers/BVI+Companies+Directors+Duties+Indemnification+And+Protection

Extract;

Directors must always bear in mind their duties to the company. These duties are codified in the BVI Business Companies Act 2004 (the "Act") and include:
⦁ Acting honestly, in good faith and in what the director believes to be in the best interests of the company;
⦁ Exercising their powers for a proper purpose, including not acting in a manner that contravenes the Act and the memorandum/ articles of the company;
⦁ Exercising their powers and performing their duties with a level of care, diligence and skill that a reasonable director would exercise in the circumstances, taking into account the nature of the company, the nature of the decision and the position of the director and the responsibilities undertaken by the director.

Transactions entered into in breach of these duties may result in personal liability for the directors
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
MRPlumper
Posts: 1,777
Premium Chat Member
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Opinion:No Opinion
Price:0.00
RE: BIG numbers
15 Jul '17
The thing is cyan
If they are playing by the rules
There's naff all anybody can do about it
cyan2
Posts: 816
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View Thread (2)
BIG numbers
15 Jul '17
Good afternoon MRPlumper.

SER is not a going concern and the last person I would want to be associated with is Dan LEVI. His record is appalling. So its a NO!!!

I see ************* (chris Bailey) is claiming the NEDS are working for free. Patently untrue as the NED's declared remuneration is 300 MILLION shares.

There are , at the moment, 6,449.299,416 shares in issue.

If the company has ,say £150k each share is now worth 0.0023258 PENCE per share.

When the NEDS are issued with their 1.2 Billion shares the shares in issue will , in theory number 7,649,299,416.

However, I am assuming the NEDS pay will be paid in 12 months time. By that time I am sure LEVI and the other director already in place will likely have awarded themselves even more shares. Lets say just 600 million as a possible number.

Shares in issue will then be 8,249,299,416. Assuming the company has £150k still (may have gone up/ may be lower, of course)

At that point each share will be worth 0.001818336 PENCE.

The NED's 300 million shares would,then, on possible wind up distribution ,be worth £5,455 to EACH NED; A total of £21,820 for their joint services. Are they really needed?

On 31st December 2015 there were 812,741,519 shares in issue. It appears likely to me that , by next year, the number of shares in issue will have ballooned by more than TEN fold!!!! in two and a half years.

TW is right to highlight the NED's possible legal position . It is possible for them to take out insurance in case they are cited in legal action. I hope they have thought everything through..

One can only guess what company TW is on about.




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