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Tom?
https://**************Udoib-DCzkYV3whn
If you aren't already in it
If this does a ARB,I'm getting RKB tattooed on myself haha,great write up mate.hopefully we are coming up to check mate,once court case finished
6p plus imo
Very interesting thread!.
From your experience RKB, where do you expect the sp to be when the court case is won?
Francesco’s strategic moves:
Francesco now has assistance from a special assistant. On Tuesday 11th February 2021 he places some shares for £680,000 at 0.6p. (these shares as at close yesterday were worth £2,663,333 or if you prefer about £2 million more than they were two weeks ago) Now that is a good move.
Francesco then plays another good move on Monday 22nd February 2021 (just two days ago) when our Mr John Story takes some of our pieces like in 100 million for £1 million and for the “assistance” his shares yesterday were worth £2.35 million but heading soon to £3 million)
So now if we get an overview of the Chess Board you can see sitting beside Francesco is £1.68 million from two placements this month and you then ask yourself, why after 5.5 years keeping the shares in issue we then begin to greatly increase them?
Then you look at the Venice High Court result due in about two weeks and then you know who has won this game of chess.
RKB
PS I know I did not lose and hopefully many of you have won with your own strategy.
Francesco’s Game of Chess:
RKB’s next move:
Francesco has all this share authority currently towards the end of 2020 of almost 742 million shares and we have at that point 662 million shares in issue. Does this not make you want to take time-out and look at the Chess Board?
Well I let Francesco know that I was not happy and it all centred around the ForCrowd buy-back compensation where we gave them 90% of any loses if they sold below the exchange price of 0.3482p.
There was a Zoom call with RKB, Francesco & PR in early January and I explained my concerns about ForCrowd. Confidential discussions took place and I was happy that I would not lose (this is when I was made an Insider and only released recently)
Francesco issued a Business Update on 1st Feb 2021 and he informed us that ForCrowd were not now going to receive 19.7 million shares under the original agreement and in compensation they would get €20,000. If you were to take the closing mid-price yesterday of 2.35p then ForCrowd would have had on paper shares, then worth about £462,950.
Francesco (with assistance and cajoling from RKB) has only given ForCrowd €20,000. Now that is a good move. Do you think I just sit and do not make moves behind the scenes?)
RKB
Francesco’s Game of Chess:
Next move by Francesco:
This was a good move in my opinion and it is the winning move. Francesco held our AGM on 12th November 2020 (when Covid-19 restrictions were in place and I could not attend personally) and another Special Resolution was passed and yes same move, it was for the Authority to issue 200 million shares for 3 years and obviously there is the removal of our pre-exemption rights.
A good chess player can now begin to see how the game is going to end.
At November 2019 Francesco has just over 141 million shares available from December 2018 (the one-year authority) but he has all the share authority from May 2018, July 2019 and November 2020.
The one-year authority expired and then it is on to the end game.
RKB
Francesco’s Game of Chess:
RKB’s counter move:
Not got much chance at this stage to counterattack have I?
Recap: Francesco has Authority to now issue up to 600 million shares as at 22nd July 2019.
Some shares were issued on 29th August 2019 to Francesco for his salary sacrifice of £30,000 so that claimed 4,000,000 pieces. (well, it is one big game of chess)
More shares were issued on 3rd October 2019 to acquire 20% of ForCrowd so that claimed 54,218,847 pieces.
RKB’s counter moves are just taking out pawns and so I keep a tally of what pawns have been removed and then I have some information. I need to allocate when shares are issued for whatever reason and remove them for whichever batch is to the advantage of Francesco.
RKB
Francesco’s Game of Chess
Next move by Francesco:
Francesco called a General Meeting for the 19th of December 2018 (only 7 months after the last one) and this move was to approve the special resolution to issue up to 200 million shares (but only for one year) but with the pre-exemption rights disapplied. So now Francesco has 400 million shares he can issue (if he wants)
Next move by Francesco:
Francesco called an AGM on 22nd July 2019 and as is typical of a good chess player, he played a tried and tested good move and another Special Resolution was approved. What do you think he managed to get approved?
Yes you know the game now, Authority to issue up to 200 million shares for three years.
RKB
Francesco’s Game of Chess
RKB’s counter move:
I appointed Francesco as my proxy for the AGM to be held on the 25th of July 2018 as I was attempting to bid for the Land known as Mediapolis and it was a blind auction. I was expecting to be in Italy on the 25th of July (excellent counter move by Francesco as I could not be in Italy and London at the same time)
I had sufficient funds for the deposit of the Mediapolis Land (10%) which had to be lodged in advance of the Blind Auction, but my Bank wanted to put a charge on our house and would only lend the funds for three months at something like 20% and the fee to arrange this was absurd.
I attended the AGM and a certain rather large gentleman was also there but he was checkmated immediately by Francesco because he did not have proof of ID (Francesco had met him previously, think it was when said gentleman was in the pie shop)
Francesco did not seek any authority at the AGM to issue further shares.
RKB
Francesco’s Game of Chess
Opening the game up:
An RNS was issued on 18th July 2017 which was titled “Response to Market Rumours” which alluded to certain shareholders attempting to block the special resolution to authorise the issue of shares. This was a good move by Francesco as he was then “on the attack”. What do you do if your opponent attacks? You counterattack.
Often after five or six moves I can tell that I am on the backfoot and I must make some decisions. Well Francesco was on the backfoot at the 2017 AGM when 12 (technically 13) private shareholders were present. I had the proxy votes from many shareholders and the person who was validating the proxies was using any excuse to exclude as many votes as possible (embossed stamp was partly missing, signature illegible, name not on register etc etc) but even with the invalidated proxies I still had sufficient votes to defeat the special resolution.
The Nomad who was sitting next to me was rude and to cut a long story short, I asked Francesco if he agreed with what the Nomad said and if he did then we could just vote there and then. Francesco did not agree and we all voted for the special resolution.
You could say technically it was a stalemate, but I think Francesco and myself agreed that it was a win-win.
RKB
PS The Nomad went out of business about two months later, some compliance issues I believe in the honesty department.