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hi cyan 2 my originol thought were good its coming back , something better than nought , however since paying them selves in advance , it be comes a no hope situation , utter @@st@rds over and out ..
Good afternoon MRPlumper Multi bagging? : don't hold your breath lol. When has this ever been a serious company with prospects?
Thanks cyan2 My five and a half million shares are worth 88 pounds I suppose its a bit early to talk about multi bagging he he
The website is back up and the latest update can be read here; hTTp://www.seftonresources.com/news/pressreleases/SeftonUpdate22July2017.pdf SER has so little cash value now. Be interesting t read the accounts. My guestimate is , maybe , worth £150k. On 31st december 2015 there were 812,741,519 shares in issue. NOW there are an incredible 8,949,299,416. More than TEN times as many. All these awards to directors is gradually transferring SER's 'wealth' to them. They now own over 45% of the company. If SER has a value of £150k then each share is worth 0.001676108 PENCE. If you own 1,000 shares they are , in theory, worth 1.6 PENCE; If you own ONE MILLION shares; value is £16. How on Earth are shareholders going to get anything significant back? The longer this farce goes on the more shares will be paid in 'FEES' to the directors . Its a transference of the company's 'wealth'. And why does this company need 4 new directors? How many people are paid UPFRONT' their fees without even doing a days work? What do these 4 NEDS actually DO? What value do they add?
Hi All, Stupid question , Any chance of getting anything back from this , ever? Thoughts
It appears the Sefton resources web site is down at the moment. Tried looking today to see if there was any further news following the publishing on the website of an update dated 22nd July. Daniel LEVI made a number of statements including that accounts were being prepared. Been a very long time coming. The significant revelation in that update was that the new directors were paid their 'fees' UPFRONT.. Following awards to the directors including Dan the update revealed that the share in issue has ballooned to an incredible 8,949,299,416 shares. The directors now own over 45% of the shares in issue. Existing shareholders are being diluted to oblivion.
Good morning reso, Chrisoil has been quiet as I understand he and other characters involved in SER and elsewhere were the subject of investigations. Did you notice how Ca lif ornia, Jo e 's blog disappeared for a time . Chrisoils too and both have deleted huge chunks of their blog histories; embarrassed or what? In fact BMD has been at that game. You can not now read his 2012 blog hailing SER to be a fantastic buy and potentially worth £173 MILLION. Laughable. What a fool he was and is. Chrisoil used to post here as SUPERSHARE, I suppose you knew that. Another reason he went quiet was he was in desperate financial straits trying to fend off bankruptcy petitions. He was having to sell almost everything he owned to pay off his bad calls. Do you remember AEY? CHAMBERS, LEVI and Chrisoil as a group all bought in to , effectively, ****et bag. Chris , due to his desperate financial state, had to sell off his AEY before 'pay day' (still awaited I understand). What a team! There is zero chance Chrisoil would be given a NED here. He fell out with BMD who accused him of stabbing other SER shareholders in the back by selling all his SER shares (for a pittance) to Ben TURNEY (would you believe it?) Not to BMD; wow! That gave TURNEY a lot of firepower so he could request the EGM. He had totally unrealistic plans but eventually came around to the sensible conclusion that a wind up and distribution were the only way forward and in shareholders best interests. CHAMBERS avoided the EGM that would oust him by contradictingly claiming he never received the request and then that it was worded wrong. TURNEY explained how the request had been sent recorded all over the show , including to the BVI, and stated its wording was the same as the one that 'clueless'Clem had submitted ; only the names changed. Turney publicly accused Chambers of being a liar. Chambers did not take action regarding this potential 'libel'. Read into that what you may.
cyan2, ... maybe the 5th NED was indeed to have been 'Chrisoil', himself! Gone very quiet of late, maybe mummy has locked him in the broom cupboard of 'her' B&B ( castle ).
Hi reso; Your mention of ADVFN just makes my blood boil. Clem actively protected the idiot Chrisoil in his rampings and BMD who is constantly spamming. Have you read on Share prophets today where TW is complimenting ADVFN for dealing with abuse. ? You should read the truly disgusting things Chrisoil wrote on various threads. I had to put up with direct threats of violence from chrisoil on the SER threads which included threats to blow my head off and they knew where I lived and so on. The whole lot are despicable. ADVFN can not claim they did not receive complaints. If the NEDS have simply been given shares up front its a scandal. Looks like the fifth NED who did not take up the position had a conscience. Don't know how the others sleep at night.
all good here, hope the same with you. I guess Bailey wants his share of the pie and getting 300 million shares up front before you do anything might sound good, but my thinking is that Levi will outfox him and grab by far teh biggest slice of the small cake that is left. 100% interest on his loan, come on , that is criminal (pun intended).
Hi buller, Hope all is well in your world! Yes, think he got a ban using that avatar, LSE don't like it at all... he then went on to be 'KingKibo', before he sculked off... couldn't handle the opposition! On 'A DVFN' he was the biggest critic... came here a turncoat and 'BoD' bottom licking creep... remember the 'Investor Show'? 'Bailey' on the board... they're having a laugh! Maybe it's his metal detector that's going to find gold in the slush that's been left behind. Lol
I meant Cali fornia Joe was one of teh new directors, dont know why the stars?
I beleive ************** is one of the new directors. Thanks for the tip, will look into it!
Buller. Glad u got out of SER with a profit like myself. ADL at close of business yesterday had a Mkt Cap of £2.3m. Well worth a speculative investment in MY opinion. But DYOR
still writing his blog about SER and anybody hear from him. And remember the stiffixey one? Those were the days. The bank robber is just hanging around to drain out the rest of the cash. Laughable when you read about him and morals in the one sentence.
Have to admit that the whole SER saga despite coming out of it in profit frustarted me a whole lot. Not only did I spend far too much time on the forum, although entertaining I had to work out who I could trust and who to say it bluntly were bullshitters (quite a lot of them). i did get some very good tips on other shares but also got some real duds. I fyou want to play in small shares you need the time to do the research and follow them on a daily basis and I havent had that time the last few years. i am trading very little these days but hope to return to more active trading in a few years time when I step down from work. My money has been mainly in bigger shares taht I bought during the last recession, building companies whihc have done great, some banks which have doen OK but stagnated and very good performers such as easy jet, IHG hargreaves and otehrs. A few disappointments including BP. My main investment has been HRG (AIM) who has performed spectacular for me (my average is 11), still undervalued but will require a takeover which could happen anytime to get to teh 100 I am waiting for, pays good dividends and I have a lot of them. and tehn I hold onto a number of smaller companies I bought at the time such as NTOG, XTR, SOU (which has done well) but sold off others such as SAR (got tired of waiting). if you have some good ideas always willing to listen. Need to spend teh ISAS for me and the wife so 30K available. Good luck with SER, I cant see even the glimmer and it infuriates me that still there people making money by trampling on all ex shareholders
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?
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"
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.
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.
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
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.
So why don't the FCA do something about it
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 +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
The thing is cyan If they are playing by the rules There's naff all anybody can do about it