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noticed some green boxes earlier but have now disappeared.Has someone reported the trolls?
Thank you for your advice., which I will ignore.
the prospectus of Innomed Tech Ltd and they say they hope to list by July this year.
If that was just a copy and paste how is it he replied to me so fast he could not possibly have consulted a lawyer.Or are you implying he has a drawer full of all sorts of replies he can send as a whim.I have filtered both you and Mraverage this boards trolls.
Great post from Havegun . The whinges should just pack up and go home. Hire a solicitor and lose money. CIC is working and making money.
Why, Why, Why have"WE" got to contact SB (done that for 9 years, smoke and mirrors) or dig deep in unknown companies to get in any formation that may effect any share we own?
Most or all of SB's "listing knowledge" of which he relies on now to enable him to receive large sums of money has been obtained has been funded by CIC shareholders !
Innomed Tech Ltd is really a CIC created medical device holding company and is one of a number we are facilitating. The value is measured by its peers. Should that company receive all it patent applications (it has received 3 of the 5) then what do you think a major medical corporation is going to do? Read the prospectus, read the financials. Where can a medical device company find a Transaction Advisor that pays for their operating costs before debt financing, provides the debt finance, provides a sophisticated shareholder base and a listing? Name me one company that can do all that?
Thank you for your time and courtesy,
Again feel free to share this email with other shareholders.
There is a lack of legal understanding. I am not opposed but support any shareholder to ask questions by simply emailing or calling me. It's interesting these persons never do. Why? Because they are not shareholders.
A solicitor engaged by shareholder asking questions is such a stupid idea as we simply will not engage in providing discovery without court supervision and proper due process. If they really want to go legal simply pay legal counsel about CAD$4,000 to make an application to the court for leave for a derivative action. This means that if they view the shareholder is oppressed, they will approve the action and the company has to pay their legal costs. So if a minority shareholder is not happy and if the majority of shareholders have voted on a corporate action, then the management must follow their voting and disregard the minority shareholder.
This is why I never vote my shares, board resolutions are taken by the board and properly minuted. Saying I have control really shows no understanding how companies operate and as such should not be involved in investing in companies. Shareholders has full rights to ask to look at the minute book which has everything in it. It has to be done in person at the registered address. If a qualified shareholder contacts me asking for the process I would absolutely assist.
CIC Capital Ltd, CIC Gold and CIC Securitisation are all private companies. CIC Fund which is where most of the shareholder bought on the market and regulated, is the only entity they can make the action stated above.
Now on some of the companies mentioned that we are assisting through CIC Capital Ltd as Transaction Advisor: -
Detroit - the value to CIC is the largest shareholder whom principals are good friends of mine and the worlds leading jewellers, luxury hotel owner operator (guess the name - rebuilding the American Embassy London into one of their hotels) paid us to introduce them to Securitisation specialists. Our recommendation was that the risk of debt finance for Detroit would be too high. They took that advice. They have provided over Euro 20,000,000 to CIC securitisation fund for medical device companies debt finance. Trolls again have no understanding in the maintenance of business relationships which is very hard work.
Intosol and Peal - both heavily impacted by COVID. All their advisors and key supporter ran for the hills. CIC stepped in and supported then through a very tough time. CIC demonstrated that we would be there is the toughest times in full support and no fee. Again why? The shareholder behind them is one of Europes wealthiest families. Building relationships is best done in the toughest business cycles of potential client companies.
Anon , ShareSoc will help you out .
MrA and Daierasa...
I believe a solicitor is a great idea. Regardless of the outcome we need a single source of truth when it comes to shifting through the years of communications, corporate restructuring and broken promises of CIC. Once a solicitor is able to pull out all of the noise we will have a very factual series of events that has led us to our current situation. If either of you would like to take point please speak up. Please let us know the estimated cost for solicitor services. I would not be opposed to help fund.
Based on the findings of the solicitor we will be able to gain clear guidance on legal action available to us if we choose to go that way.
My further suggestion would be for the solicitor to establish and publish an email address that we are able to send past communications, files and relevant materials to. No more passive sitting about…time for proactive action.
So where is the office CICC work from or is it just a matter of moving from country to country in hotels , I would think any money in any of the companies are getting spent on running the business from where , all I can get my head around it that all the company has no proper place we are running from , one minute from China next England , next Canada , then where , it is hard to keep up , What happen to Emulsion fuels , coal , gold , the exciting list goes on and on but nothing , next are reading the CICC board we own no mines infact nothing but only a million pounds in the bank , the way this has been talked about over the last few years CICC should have about £20 million plus but just a million , and then we here SB owns the mines and is putting cash into what exactly , What is CIC Gold got exactly , if it lists is it worth anything now , I thought it had mines and making millions but seems NOT .
Once again SB shows up, throws out random information, but does not answer questions directly. Here are some questions that SB can answer:
Innomedtec Questions
What listed companies (peer measurements) did you use to obtain CAD$20-CAD$68? Would love to see how you calculated that.
What timeframe should this listing take place?
CIC Capital Questions (these are questions that SB should be able to answer without using confidential excuses)
Does CICs various companies past failures "Cease Trade Orders" and "delisting" impact new client listings on regulated exchanges?
Why submit a prospectus to TSX in March 2020 if the plan was to postpone listing CIC? Did TSX reject the listing request? If so, what criteria did CIC not meet?
What revenue target is CIC working to hit in order to seek listing again?
What is the projected timeline to hit that revenue target?
How many current clients is CIC advising? What revenue do they represent in the next 6 month timeframe?
What exchange will CIC seek future listing on?
Ok thanks Joe
Dorothy, read my post.
CIC Fund shareholder voted to dissolve the company.
The rest are private companies. CIC Capital shareholders voted not to list until significant revenue.
Just call Stuart and ask him.
Just received an email from Stuart.
Nice post on LSE good to see shareholder doing good research and detailing facts.
Go to Innomed Tech web site again down load 2020 Audited Financials View Item 8 shares issued to CIC Capital Ltd.
Again Item 8 look at “"Shares Issued for No Consideration”
These shares are to create a shareholder base from CIC Fund share holder base.
Look closely at item 10 and foot note.
Kind Regards Stuart J. Bromley
I looked and this is what I found..................Everyone please look at https://www.innomedtec.com/copy-of-about
I also noticed that the Long Form Prospectus is dated December 12, 2021, so they could be close to listing.
FROM ITEM 8
"On April 15, 2020, the Company issued 3,103,448 common shares plus a full warrant
exercisable for one common share at $0.29 per common share on or before December 31,
2025 as consideration for professional services of $900,000 received from CIC Capital Ltd."
"Shares Issued for No Consideration
During the year ended December 31, 2020, the Company issued 6,927,826 common shares
to certain individual and institutional investors for no consideration, but these investors are
required to purchase 5 common shares on the market for each common share issued to them
when the Company is listed on a designated exchange. The shares issued were recorded at
fair value, with corresponding increase in deficit. The fair value of the shares was based on
most recent arm’s length financing transactions."
FROM ITEM 10
"Purchase of professional services
from CIC Capital Ltd., a shareholder in 2020 (i) $ 1,000,700"
"Purchase of professional services from two
minority shareholders 47,125"
"(i) Of the professional services, $900,000 was paid through the issuance of common shares and
warrants. See Note 8."
I am not entering into any discussion. Phone him.
Joe if you have been to see him and his wife face to face can you tell us what is the hold up and the problem and why are we still not listed anywhere ?
CIC Capital Ltd is a private company
CIC Capital Fund SA is a private company
CIC Gold is a private company
CIC Capital Fund Ltd (formally AIM listed) is regulated and where we all bought shares on the market. We received dividends in CIC Capital and CIC Gold expect for a small off market placings.
So which CIC company are you referring to? CIC Fund, shareholders voted recently in the majority to dissolve the company as management see fit.
CIC Capital last shareholder meeting voted in favour of a future listing as revenue increases and AGREED TO ALL ACTS AND DEEDS BY MANAGEMENT.
So you have your heads in retail cloud not acting as a professional investor and no legal clue.
I have personally traveled to meet Stuart and his wife, I have no idea as to to CIC strategies but I do know he has funded everything and has a huge team. He, nor CIC receives any money when you buy and sell shares on the market. Reviewing the audited financial statements which are public show GBP187,000 was placed off the market to which he received no salary or any benefit from the money.
I guess the noise is coming from 4 or 5 retail investors trying to blame others for their investment strategies. Just call him. his mobile number is on CIC website not like 99% of other CEO’s
I would be happy to help fund a solicitor to at least establish facts, ask questions etc. It is the not knowing, false dawns etc that is hurting me
Some links to look at.
https://securlinx.com/announcements/
https://intosolholdingsplc.com/wp/
https://pearlislandbahamas.com/
https://detroit-electric-group.com/en/company.html
https://solenal-americas.com/
Good find macnai. Up late thinking... After reviewing the note you reference from SB a few things strike me as suspect. Before that I must say that I have taken it upon myself to never take SB at his word and instead determine the facts.
The fact is after I just reviewed the innomedtec prospectus it mentions 47,000,000 shares on the market at listing, with more to follow. At the prices SB quoted, CAD $20 to CAD $68 that would imply a market cap of CAD $880,000,000 to CAD $3,200,000,000...this would make it one of the highest listed stocks on the TSXV. Currently the highest listed life science company has a market cap of CAD $440,000,000. I am not sure where he is pulling those "peer measurements". This innomedtec looks as if it would be a pre revenue company for years to come. Yet again his words and the facts do not match.
I also took it upon myself to look over some of the clients he previously mentioned while I was on the Sedar site...
Pearl Adventure Holdings - No activity since Dec 2019
Securlinx - No activity since Nov 2019
Solenal - No activity since April 2021...this one is funny because I was having issues accessing their website
Intosol - no information
Detroit Electric - no information
In addition I looked through several recently listed TSXV stocks and it looks as if they have all been able to get listed within 4-6 months after submitting their prospectus. Why is it taking SB years to try and achieve the same results?
Their website. https://www.innomedtec.com/
Management, Directors and (taken from the Long Form Prospectus) (some familiar names)
Officers:
Name Position
Robert Leslie Rhodes Executive Director/CEO
Terrence Larkan Executive Director/CFO
Dr Marshall Walker, MD Non-Executive Director
David Toyoda Non-Executive Director
Billy Williams Non-Executive Directo
From the MD & A FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021
"The Company transferred the majority of its Patent Applications to CIC Fund Securitisation S.A.(Luxembourg)
as part of the process of securing debt finance of initial Euro €10,000,000."
TRANSACTIONS WITH RELATED PARTIES
The following transactions occurred with related parties during the year as at September 30, 2021:-
2021 2020
Monthly Retainer agreement professional services
from CIC Capital Ltd., a shareholder in 2020 $ 144,000 $ 1,000,700
Purchase of professional services from three
minority shareholders 34,598 47,125
Here is part of an email from Stuart that I received last August.
(About Innomed Tech)
"That company CIC pulled out of a huge hole. The value at listing might be ok but if patents get approved then your looking at CAD$20 tocad$68 per share (measured against peers) CIC Securitisation S.A (Luxembo approved securitisation entity has devivered EURO10 million with anther 60 million avaiabe on call.
Please note the web name WWW.Securitisation.com This if sold would fetch over Euro 7 million. I not pulling your leg here. www.Fund.com which I owned and sold to a major bank sold 8 years ago at US$9.8 million.
CICCapital.com has a multi million offer from the large French bank CIC Capital which I will not sell. I hold over 90 high value domain names which I registered way back in the early 11900’s."
I would be happy if he sells CICCapital.com after all it does belong to us shareholders and sends us a cash dividend.
And change the names of the CIC companies to one of his high value domain names.
On 28 Mar 2016, at 20:05, wrote:
Dear Stuart,
Just thought I would bring you up to date on my position supporting CIC.
Stuart, NOTHING you have ever said to me has EVER become true:-
September 2015 , 20 Million in the bank by Xmas. !!
CIC is going to list by 1. 2. 3. 4. dates etc !!
CICG is going to list by 1. 2. 3. 4. dates etc !!
Quote:- On 29th June 3013, There are going to be 3 IPO’s this year and 7 next year.
Office in London !!
Copy of an e-mail to SB in 2016. I have to apologise to fellow shareholders for not taking action on this situation before now.
Hi Anon,
Very factual and true post. Perhaps we should all get together.? Any suggestions as to how we do it?
Box number, ?Nominated solicitor.?
Mr A