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cyan2
Posts: 816
Off Topic
Opinion:No Opinion
Price:0.00
RE: Where's the cash gone?
Sat 20:29
BMD won't have to issue many more shares before the crew go over 50% of the equity.

That makes things so much easier. No need for inconvenience of a vote by the general shareholder base to wind up and distribute the cash.

The 6 directors could vote at any time and no-one else gets a look in.
 
MRPlumper
Posts: 1,777
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.00
RE: Where's the cash gone?
Sat 20:06
Nothing would surprise me on aim anymore
Sorry we don't have the strick rules of aim do we
cyan2
Posts: 816
Off Topic
Opinion:No Opinion
Price:0.00
RE: Where's the cash gone?
Sat 19:59
The only reason I can logically see as to why BMD has brought in NED's is to protect his position and carve up the company's assets with his mates.

He is conscious of the position if he personally goes over 30%. He needs cronies.

Why pay for the useless paper when you can create tons of shares and blow away all the original shareholders equity value?

BMD loudly condemned ELLERTON for changing the articles of association to allow him to create an UNLIMITED number of shares. Dan is now cynically using that ';right' to relieve shareholders of their fair share of the assets.

What is to stop him , overnight, creating 40 billion shares and depositing them in the companies treasury?
All existing shareholders then only hold 10% of the company's wind up value.

Surely that couldn't happen? could it?
tozerk
Posts: 1,813
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Opinion:No Opinion
Price:0.00
RE: Where's the cash gone?
Sat 19:21
How many non executive directors does it take to manage £150k?
And how much should an NED as part of a team of NED's be paid to manage £150k?
A lot less than they seem to be paying themselves I would suggest.
MRPlumper
Posts: 1,777
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.00
RE: Where's the cash gone?
Sat 18:13
BT is a director at new
Just the same thing ias far as I'm concerned
But at least it's got people posting on the BB
And I'm sure that they read it
cyan2
Posts: 816
Off Topic
Opinion:No Opinion
Price:0.00
Where's the cash gone?
Sat 13:59
TW pulling his punches as regards BMD as usual;

"Sefton Resources - shares in issue balloon but what is the cash position?"
By Tom Winnifrith | Monday 24 July 2017

hTTps://www.share prophets.com/views/30521/sefton-resources-shares-in-issue-balloon-but-what-is-the-cash-position

I have had tp put a space between the words share and prophets as LSE auto deletes otherwise. Close the gap to make a working link.
TW makes out the cash position is FAR worse than my £150k guesstimate.
He does not raise the legitimate questions of the up front award of shares to the new directors or even why they are required.
Looks to me like BMD is taking care of his friends and ensuring his gang have enough votes to stop BT or anyone who may try to call an EGM.
tozerk
Posts: 1,813
Off Topic
Opinion:No Opinion
Price:0.00
RE: Worthless shell
Sat 11:07
Whats annoying is his twitter page where he decries other people for being liars and scumbags by ramping or ripping people off through share placements, and he's done far far worse here.
All this return value to shareholders ******.
The only shareholders he's looking after are his mates.
What a low life!
HeresHopin
Posts: 664
Off Topic
Opinion:No Opinion
Price:0.00
View Thread (2)
RE: Worthless shell
Sat 10:40
Agreed Tozerk. Two ways to grow the value of your share - you either grow the value of the total asset and so grow everyone's shares proportionally or you increase your own share of the overall pot and get yourself more money that way. Each and everyone of the directors / NEDs are thieves in my view and should be locked up or at least publicly shamed for their actions. All those NEDs to look after a tiny investment which will surely largely take care of itself or not. I understand that the cash in value of shares currently is around a twentieth of what it would have been on sale just before deleting (0.2p then) and it doesn't matter to ordinary shareholders how the "investments" do as their share of it is already half of what it was before delisting. Since then the cash value has reduced by a large amount and the pigs have gorged themselves on billions of shares. Hopefully there is karma and these criminals reap what they have sown later on life.
tozerk
Posts: 1,813
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Opinion:No Opinion
Price:0.00
RE: Worthless shell
Sat 08:18
He had an opportunity to make himself look really good. But instead chose to confirm the fact that he's a total lying sh*t.
What a complete shyster.
cyan2
Posts: 816
Off Topic
Opinion:No Opinion
Price:0.00
RE: Worthless shell
Fri 23:03
Its worse than I first thought trying to work numbers in my head. There are now 8,949,299,416 shares in issue. Rounding DOWN Dan's numbers on the directors holdings to 45% means that 55% belong to everyone else.
55% is approximately 4.922 Billion in others hands.

For 4.922 billion to be 10% of the share capital ; the total share capital has to be 49.22 billion shares; rather more than the stupid off the top of my head 20 billion. Makes a huge difference to what a MILLION shares are worth.

Works out at 0.000816p per share.

Thus 0ne million shares will be worth now £8.16 instead of £16 as they are possibly now.

In my wind up scenario after great investment success there will still be £360k for the 6 directors and £40k for everyone else to share. Just a lot less per share.

Sorry, its far worse than I thought.

What is clear is that there is every incentive for the directors to create masses of shares to award themselves.

The ordinary investors can not win even if the directors have significant success investing the £85k

You are being diluted to oblivion.

Sorry about my poor sums .




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