This has been a disaster for all of us, I think some have got carried away at times I have myself in the past otherwise I wouldn't have lumped in so much cash and be facing down roughly £70k loss should this get wound up.
I think while we all thought everything was so simple and we would just need to pass one challenge form the next we let down our guard and didn't question the Board enough.
IMO we have no reason to trust Alex Borrelli. He will no doubt make something happen but I don't see him as a miracle worker, the damage appears to have been done.
Horacio and Mark have a lot to answer for, asleep on the job is about the best excuse they can muster. Mark Wainwright has been around for 4 years, surely they knew upon approval they should've been ready for production, surely alarm bells should've been ringing and questions asked?
Instead a disappearing act by the guy who orchestrated all of this....
Well it hurts to say it but not even the eternal optimists are out to defend our current position. You would normally have been savaged for such a post. I don't think you are far off the mark with your views and I don't think for a minute he was brought in to take us into production. I think the writing was on the wall from the minute the lying shister left. sick my ar** more like he ran out of yarn. When this winds up there really needs to be some kind of investigation and I dont mean the kind that justifies spending the last 600k.
Alex Borrelli, our chairman. Below is a brief history, far from in depth and without going into the finer details I will leave that up to yourself if you wish to look further into his past and see what happened in between his arrivals and departures. I have for myself.
I understand he may not repeat past actions however this is the little I have to go off. Please DYOR and feel free to ignore the below, as I say it is an overview but is accurate as to what happened whilst he spent time with various companies as listed on his original introduction RNS.
Suspension, almost 6 months ago and no update at all since... Website not been updated so I take it this was terminated...
2/11/2007 Announce that Shore Capital will become there new adviser, Alex Borrelli listed as the contact.
4/07/2008 - proposed delisting 04/08/2008 - An EGM and agreed to be delisted.
Reasons were along the lines of poor market conditions.
16/03/2010 - Offer made for company and agreed by Borrelli and another director.
Interesting IAF capital limited were involved in the purchase, another company Alex Borrelli was involved with. The sale was the only opportunity left for the remaining shareholders to realise any return. Believe that following the sale Borrelli ceased his activity.
Ablon Group Limited
Company was taken over at a 70% discount to its NPV, although it was difficult for them to stop this happening. Section 3 of the below link backs up my statement. At one time the PF was valued at £500m and went for just over £30m in the end.
who knows . It may not be so bad . Here you go let's cheer up a bit :
My mate just hired an Eastern European cleaner, took her 15 hours to hoover the house. Turns out she was a Slovak.
An elderly couple are in church. About halfway through the service, the wife leans over and says to her husband, 'I just let out a silent fart; what do you think I should do?' He replies, 'Put a new battery in your hearing aid.'
An Englishman has started his own business in Afghanistan. He is making Land Mines that look like prayer mats! It's doing well! Prophets are going through the roof!
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