Will Sefton Resources ever publish an annual report again?
By Tom Winnifrith
The last we heard Sefton Resources (SER) had c£250,000 in the bank but how much is left and when will we find out? The answer to the latter question is...potentially never thanks to the strange laws of the British Virgin Islands where this company has always been registered.
You see in the BVI, as you can see HERE, Companies simply do not have to create or file an annual report. And so Sefton's new directors and advisors could in theory spend its remaining cash on whatever they wished and no-one would ever know about it.
I would have thought that there was a moral obligation to keep shareholders informed and as such I put it to Brokerman Dan Levi who, together with market abusing criminal Chris Oil, forced through the changes which saw Sefton delisted from the AIM Casino and asked if Sefton would publish accounts and when? Mr Levi declined to answer that question.
But one would assume that with fine upstanding fellows such as Mr Oil, assisted by PR fecking genius Steffi, safeguarding their interests, shareholders in Sefton Resources will not feel unduly alarmed.
Seen as you like putting old posts up remember this one Anyone can view the FMX posts using this link;
In the past the group signalled that they would block their targets, and, those that re-tweet the targets .
They have caused a degree of anxiety as someone went to a great deal of trouble to hack twitter and delete historic tweets. I expect if you were to send them a private message they would enlighten you. I understand the group comprises more than 10 investigators and is not one numpty fantasist. SER has had its fill fantasist's I think
TEN INVESTIGATORS MY AR$E IT WAS DOC THE FANTASIST IE YOU ! AND THE FMX BULL$H!T SITE HAS BEEN BOOTED OFF TWITTER AGAIN....LOL YOUR A JOKE DOC !
1. Cyan 2 is NOT DocH , Turnip or anybody you know
2. " SUPERSHARE " IS Chrisoil
3. Chrisoil and BMD are the well paid 'consultants' to SER
Totally unreliable source information from SUPERSHARE below
Extracts from his SER LSE postings;
17th Sept ...but the point I'm trying to make, as I have said many times is that I can't see a guy like Clem not having all bases covered.
30th Sept extract The fact is TEAM CLEM have a nomad and you and the whole market KNOWS IT ! ..
7 Oct '15 ...... I feel sorry for the people who might of panic sold because in the next few weeks this company is going places and it's SP will rocket .
15 Oct '15 15th October Don't believe there lies this company has a big future. If it does delist it won't be for long the major players have fare to much invested not to turn thing around. 4 billion barrel assets in Bahamas just waiting in the wings.
22nd October .....Trust in team Clem . I give you all my word things are moving forward ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Tell us about those 4 Billion barrels Chris. As fantastic as your tweet here from October 26th 2015;
Chris Oil & · Oct 26 @paul18280 Sefton will not fold indeed it's on a journey to becoming the greatest oil company listed on world exchanges IMO ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
I previously posted that i thought there was "JUST" a theoretical possibility that SER could be relisted elsewhere than in the UK. This would have necessitated the will and commitment of Team Clem to that course. Large re-financing would have been necessary. Imo its not credible to assume this could be achieved by any borrowing. SER's assets are awful and Kansas is, imo, actually a $500k liability. Therefore a secured loan is impossible. As for an unsecured loan ; who would lend a substantial amount of cash to Team Clem?. The CEO has no oil experience . He is famous for his position at ADVFN but in 17 years profitability there still seems like a distant dream. There has been no sign that any party to Team Clem are prepared to dig into their own pockets to help. The only 'credible' possible way to refinance is to tap the existing shareholders . I doubt many of them are going to be prepared to sink more money into the SER money pit. Many have been there too many times already. The questions i have are ; what on Earth is going on now? Please , please, please do not post along the lines " I know something, but i can't/won't share" It's been over 6 months now of a "forensic audit" and we have had claims of "shocking" misconduct. Talk about shockingly slow; what are the auditors using?; an abacus . If the audit is complete then why not share some information with all shareholders? A poster claimed that SER had recovered a little more cash. Its all very well Team Clem giving a nod and wink to their pet cheerleaders, but, its about time a statement was issued publically to all. That statement should include what is their intent now. Do they intend relisting or simply recover as much cash as possible then liquidate? The silence is a concern. How is the cash being spent. My concern is large sums are being spent on those slow legal and audit teams.
And who are the "consultants" and what are they taking.?
After 6 months any other business would have issued a half yearly report.
Team Clem asked for shareholders support; the least they can do now is communicate publically with ALL and not just their favourites.
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