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Member Info for beton2

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Member Since: Thu, 6th Oct 2016

Number of Share Chat Posts (all time): 124
Number of Share Chat Posts (last 30 days): 1

Last Posted: 4 Jun '19

Post Distribution over the last 30 days

4 Jun '19

The end game is to get relisted. UBE rolls out the FTB program. The token is on exchanges. How and when is proving difficult. No money means that they cannot promote which means no real traction. There is a 1000 shareholders (from NYO) which cannot be tapped because they have to jump through red tape to do so.
16 May '19

They are still ticking away. Most token sales will happen in the last few days. They have enough with the sales to date to start promoting the FTB business with the listed tokens on two sites.
14 Apr '19

Get in touch with the company. They have been hamstrung for funds. Firstly because of red tape they could not raise capital for the RTO. Unless they had spent $2-300K on paperwork so that the retail shareholders in UK could participate. Then most of the UK holders are with brokers and the brokers have not been passing anything on.

Ube had no funds but they had a person who promised GBP5M. It did not come. The ICO did not work nor did the TGE. They have raised a little money for the listings on a listing or no money basis.
11 Apr '19

Latoken EOS is now live. The intention is to flow with these two EOS and then an intention to list on a stock exchange (LSE). There will be a rush on so that the IPO does not flow into Christmas.
8 Apr '19

They will also be on Latoken. The Ubecoin website has been upgraded. The company is starting to move. Buying tokens is one way to support your investment. Another way is by contacting the company and see it you can invest directly. Who knows.
19 Feb '19

All is still on track. It is a very tough market out there.The problem all stems to money and red tape. And what comes first. They have next to no funds. Irae only had enough to do the deal. Ubecoin had nothing. At the time they had a promise of a wack of cash which did eventuate. The ICO did not fire and the TGE is confirming that the big money has moved on. The consolidation has happened, the name has changed however the notices have not gone out. This is purely monetary. It costs to send the notices out to over a thousand shareholders. Selling the tokens is the least dilutive way of raising the cash.

Red tape prevents them from certain cash raising methods. It restricts them to the sophisticated punters. Thus what money that does come in must be prioritised. The notices are near the top of priorities.

They need to be able to market which means money. They need to list the tokens on an exchange which takes money plus a number of tokens in circulation. They really need the tokens on an exchange to have the free trade barter model to work efficiently.

I am still confident that they are going forward even though it is slow.
28 Jan '19

UBE has a good business model, it just needs promotion to put it out there. Promotion takes money. Irae did not have any money nor does UBE. Enough money was put into Irae to get the deal done. The intention of Irae buying into UBE was relisting. That intention must remain and all steps must be taken to enact the relisting. So UBE must raise money to (1) stay afloat, (2) promote the business model and (3) relist. It can get money from money from various sources being (1) the TGE/ICO , (2) shareholders, (3) new investors or (4) new partners. The TGE is selling the UBE token, this is our best option. Reality is that the TGE must raise at least $US 5M . Each money raise has to have a minimum amount and a maximum amount raised. If the amount raised does not reach the minimum then all money has to be returned. The good news is Ube has sorted out the minimum raise, so all money raised will remain with us. Currently the TGE is being presented to high nett worth US investors by a TGE manager that has done this many times successfully. On completion of the TGE, the UBE token must be listed on a crypto exchange and a market value will be given to the token. Remembering that UBE has 2.6B tokens. Please go to Pure Reports and see their valuation of UBE. The UBE token has a useful purpose and is 100% compliant to all current legislation. One of the few cryptos that are. I have always maintained that the present shareholders (about 1000) should be given the opportunity contribute to the success of the company. Due to cost and FCA requirements the UK based shareholders were not able to participate in the OIS which allowed us to buy into Ubecoin. The Ubecoin deal required us to consolidate. The consolidation and the subsequent takeover allows the company to clean up (have a minimum holding to continue (some shareholders have 1 share, a large number have less than 100)) the register AND legitimately offer all shareholders the opportunity to top up their shareholding to above a marketable level of shares. This is the best way forward for all shareholders. Also there is nothing stopping any existing shareholder from contacting the company and saying that they want to increase their shareholding. Particularly UK based shareholders as listing requires the 25% holding in EUA hands (I don't know how Brexit will affect this). I do know that a good deal for this initial funding is available. To list and do an IPO a pre-IPO is done which has to be done by Ube. This is done without the usual rules by going to sophisticated investors wanting a great deal before the listing. Which is a Catch 22 situation. A partner deal is in no ones interest.So the shares have been consolidated and they have been changed to Ubegroup shares. They are just needing to have enough funds to pay for notices to go out. And in those notices should also be an update and in my opinion a top up offer. In the interim take part in the TGE /ICO and see if
27 Jan '19

I spoke with them on Friday. A board meeting this week. They are expecting a little bit of funds next week which will allow the consolidation notices to go out. I spoke to them re a top up facility in which existing shareholders can top up their holding. to be included. The TGE has started getting some momentum. One of the requirements that the broker they are looking at for the listing requires is that the pre IPO funding must be raised via UBE themselves. One of the LSE requirements is that 25% of the shares are EUA held.
18 Jan '19

Spoke with them last week. Not much happens around Christmas. Seems there was a little delay with the TGE with the TGE going a little slow. Consensus is that they want to hit it without the the Christmas slowdown disrupting the momentum. Still on track for listing mid year. The TGE has to perform. The good news is that they have gotten rid of the soft cap (the minimum that has to be raised.) I will try to touch base next week.
18 Dec '18

(i) correct
(ii) correct
(iii) correct
(iv) incorrect. I do not know where this came from.
18 Dec '18

The name change and the consolidation advice notice should be coming.
TGE is token generation event.
17 Dec '18

There are two things here. (1) You have shares in NYO which changed its name to Irae and now has undergone a RTO and is now Ubecorp Ltd. The shares have gone through a 1:50 consolidation. We are awaiting confirmation via computershare. The intention is to list on a major exchange preferably LSE on track for mid 2019. The listing price relies on the success of the TGE. (2) Ubecorp have restarted their TGE using an proven event manager to promote the TGE. Part of that TGE event is the Pure Reports analysis (link sent previously). PR gives the value of the UBE token at US23 cents each. In due course the UBE token will be put on an cryptocurrency exchange and the tokens will be able to be traded or cashed out. This second event will provide credibility to Ubecorp which should be reflected in the share price.
15 Dec '18

listing is still on track mid 2019
11 Dec '18

excited enough to read it and comment. NYO was dead the moment the big dish deal fell through. Bringing it back has been slow and tedious. And painful.
11 Dec '18

I certainly hope so.
4 Dec '18

There is nothing to be worried about with your shares. Everyone's shares are equal whether they are Aus or UK or other. Cash at the moment is an issue and the company is being run on a shoestring. There is an announcement due which should bring everyone up to date.
One of the points that I put to the AGM was that the register has to be cleaned up. There is to be an IPO. Prior to the IPO some funding is required. This pre-IPO funding is normally offered to the broker but I insisted that the existing shareholders should be offered this first. I suspect that this is going to happen and is the cause of the delay in announcement. Andrew does want to use what money we have in the most efficient way.
Also the Ubecoin whitepaper has not been updated yet. This has to be done to get the TGE underway. This has to be close now.
The aim is to list on the LSE as the first choice, and at present we need to get up to 25% share holding in the hands of UK or EEA holders to do so.

After meeting David and Andrew at the AGM, we are in good hands.
25 Nov '18

I will add more tomorrow.
25 Nov '18

Sorry for the delay in coming back. I got back from the AGM and all hell had broken loose on a job that I am involved with, family and a golf tournament to organize. More importantly I was running down some numbers on the shareholder list. Had I seen these numbers before I would have been thinking differently. The company before the current directors had crucified the company. Before the UBE deal the only thing that could happen was to fold.
There are circa 1000 shareholders. At the OIS price / last traded price (the last market price) 900 shareholders do not own an ASX minimum parcel of shares $A500 worth. 600 own less than GBP10 worth. 30 shareholders only have 1 share. Pre OIS 85% of shares were EEA based mainly GBR. The remainder were mainly Australian. With the OIS and the RTO this has reversed. We cannot relist on the ASX with these numbers and we don't want to. To list on the LSE (we do not want the AIM market) 25% of the shares have to be in EEA hands. There has to be an IPO to list and the size of the IPO is dictated by the difference between the current EEA shareholder % and 25%.

This is quite achievable and the BOD is in talks with Blue Mount Capital.They are looking at this to happen in the quickest possible manner. That was the principle reason for me flying to Sydney, to eyeball the UBE guys and the Irae BOD that relisting ASAP and getting share value were paramount.

So firstly the Gryphon deal has fallen through. They have gone down the private path. The UBE deal has gone back to an RTO and this has happened. We are officially UBEcorp now. UBE were going to list by themselves but the timeline was too great.

UBE are currently restarting their TGE with a top marketing company in the USA. A lot of faith is in this based on their previous work in cryptocurrencies.Good success will cement the value of the UBE token at $US0.25. It will also open up to an exchange.It will also lead us into an IPO and listing. The funds raised will be used to market the uptake of merchants. The FTB model is a very sound subscription model. They are charging $US300 per merchant to be on the register and they have several big groups in a holding position.

Several problems that the BOD has is that with the GBR shareholders is that and cash raising must have a prospectus with any offer. The raise a prospectus and have it signed and cleared is nearly $100.000. The second issue with the GBR shareholders is that they are in the main, broker accounts and the brokers are not informing their clients with the little that has come out.

We still need plan B just in case that the TGE is a bit slow. I am trying to convince the BOD that to continue with the IPO without the TGE, they need some pre-IPO seed money. I have found a couple of precedences where in a cleansing program (reducing minimum shareholdings) in GBR companies they have included a top up facility. This has been in the FCA realm without a prospectus. This will allow any one to get m

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