Has done this to OUR company it's not worth pulling out were will you go there ain't many good ones out there at the moment to get back what most of us are down hear I think it is a stick would it not be a good idea to have another fof count up and see were we stand as a group to see if we have any clout left if we need to use it for a good reason
FYI-You know I only have a small holding compared to most on here(6m) but I did sell 3m after the last RNS but have kept the others.I do intend to stay here until real news but at a reduced rate.So apologies if anyone thinks I have abandoned you but just does not seem much news for next 2 months and there are other opportunities with much more transparent BODs. I do think this BB is one of the best but will keep watching but not posting as much except if very relevant. GLA
Rb40 I have actually met SN and talked to him prior to the GM in June. He did not strike me as dodgy. But I would not make the mistake of looking at FRr solely by looking at SN. I think ZM and Levan might be the significant players these days.
Bridge I'm drinking as well don't worry and watching the latest trump news! The world's gone mad!
Devex looking at the rest of the accounts the salaries could only be in the general expenses and they are unchanged from the previous year. So yes it is an explanation but it's another example of them not being as transparent as I would like. Given the current market capitalisation that amount is outrageous anyway and it's signed off no doubt by the two man remuneration committee that includes ZM!
If he was a crook he could have stitched up shareholders with the CLNs as he has some. The 15% RPNs interest is a joke but I'd hope the massive giveaway to protect the company from a hostile takeover will include a share buyback. Hopefully we'll/FRR will actually make money and be able to buy shares off the providers to convert some of the RPNs to improve SN and Zaza's stake. The gas and oil is there, prove the commercial extraction, sell and bounce to Moldova, Ukraine and let me get out before that venture!
Mole - I see where you get the numbers - $3.9 mn - "Issuance of related party promissory notes in lieu of salary payments"
Now this has not as far as I can make out be done before - but I recall in the 2011 document a CEO salary of $500,00 was indicated. And we now that on occasions remuneration in relation to director responsibilities has been foregone. RPN statements also always relate to Directors AND Senior Managers.
My take - some or even all of the senior team may well have forsaken salary for much of last year in exchange for RPNs - to the tune of $3.9 mn. In fact I can think of no other explanation.
If true it demonstrates the critical cash position in early 2016, but perhaps also the confidence and commitment of key people.
That's really interesting to hear Reg. I think most of us have watched SN at the AC and asked ourselves whether this guy looks or sounds like a crook. For me the answer is no; he seems a straight up guy who's just trying to develop a massive asset.
But then we get the delays and the excuses and it really seems like he's just trying to stall for time. The vagueness of the information in the RNS and the way opportunities to ramp the company are not taken e.g. dinner sat next to Kvirikashvili!!
I also dont like the way the Frontera website is never meaningfully updated and there's the weirdy thing with Google where you cant see the FRR chart - it's almost like in 2011 or 2012, they decided that they wanted to distance themselves from the market and discourage shareholders.
In fact, Coggy's manual on how to attract and schmooze shareholders uses FRR as it's principal case study.
So something just doesn't add up.
Maybe as people have said, the shareprice is currently not important to SN because they can raise funds through YA and by issuing shares to service providers etc..... and balls to the long term stock holders and the ongoing stress of watching the shareprice erode!!
But that's not particularly Christian of SN is it!?
Every one is either watching the snooker or having a wee drinkie or coggy is sat behind the sofa watching black and white 're runs.any hoo I also have a question I don't think can be answered..why no board changes when 30% of the company went walkabout..could frr own interests in our partners.conspiracy theory I have had for a long time..back to the snooker.ttfn
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.