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Hi turnthecorner, I didn’t take it as that - I thought I might just offer some explanation to the wider audience why the person who went to the AGM hadn’t said a great deal about it. Some may have felt that I was just playing cards close to my chest so my comment was unrelated to your question. Sorry for any confusion..:-)
Hi Timmit I wasn’t insinuating that you knew more than most I just wondered what your gut feeling was as you have been involved more than most going to the agm’s etc.and heard things said that might just give us more of understanding due to these foggy returns. Anyhow I hope your patience is rewarded like everybody else
Hi turnthecorner, I would state from the outset that I have only, up till now, met with the directors at AGMs or EGMs so I don't "have their ear" any more that the other folks on here. The signal from the AGM was that the criminal case proceeding against the former management of Sosushi considerably strengthened CLP's case - observers might think that for their behaviour to be criminal enough for an Italian court to prosecute them it must be bad! I couldn't possibly comment...
Some of the information I heard at the AGM I didn't post either because it was very technical (legal wranglings over the Mediapolis properties including villas) or I could only be told limited information which didn't allow a conclusion to be reached (Crypto). Nothing was market sensitive as it was all in the public domain (much of it in the Italian public domain).
Good morning RKB Not the returns we wanted as I was hoping for more positives from FG’s negotiations which shows no signs of break through or he’s giving us a false picture for whatever reason. I would like to know Timmits thoughts as he seems to have a reasonable relationship with FG or is he just as concerned as us for the lack of progress. I’m a LTH but how longs long !!!!
Sosushi: Our MO is to litigate and on this one and the guys who tried to play with us a game of Monopoly are hopefully going to jail. Will we get any money out of this? Maybe my granddaughter’s grandchildren will.
New Areas of Investment: Blockchain and Artificial Intelligence (AI) are the future and Francesco has an academic background in AI. This if / when it occurs will hopefully benefit shareholders but will I live till 120?
Finally Outstanding Bonds: I left this to the penultimate point of this Post as this is key to reversing the share price. Francesco said “terms of re-payment /conversion. I can say categorically that Eufingest will be re-paid in cash for their €3 million Bonds. So if you believe this then where is the cash coming from? Some of the litigation maybe from the 12 sets of litigation firms that CLP has engaged maybe! With our share price at an all time low the outstanding Bondholders (excluding Eufingest) could convert at 500% of say 0.3p or 1.5p and not the 3.76p that the pervious conversion was completed at they would receive more shares at 1.5p conversion than the last converters. I.E. on £1 million converted at 1.5p they would get about 66 million shares where the ones who converted at 3.76p would only have received 26 million shares. So now we may have a reason why the share price is so low.
PS Do not forget the most valuable asset we have: Tax losses of over €60 million which at some point a Company will want to RTO to gain access and if it was PBV Monitor then they would not pay any tax on their income for a few years (we can dream can we not as that is all we have left at the end of the day)
Well I am sure we were all hoping for something to set our share-price alight and at first glance it does not seem so but....
Geosim: This is now taking a much higher profile, more so when you think at one stage in the not too distant past this “investment” was written off. The positive for me here is that we are “getting” 8% and our Swiss Benefactors only charge us 2.5%. This may not seem like much (maximum of $5,500 difference on a full year if all money was handed over immediately) well $5,500 is always going to help pay for our wonderful PR guy who is doing such a fantastic job for LTH (thanks!) There are other positives with Geosim in that if this does actually “take-off” then the warrants could actually pay for a visit to Sardinia.
PBV Monitor: This 10% investment will at some point (maybe my granddaughters’ lifetime) be worth substantially more than what we have invested, if they can convert their 1 million “visitors” to paying members. But this investment could actually take-off when FG is appointed a director in January 2020. Now will FG take a further stake in PBV Monitor? If he does then we know it is going to be revenue producing. If not is it just so he can be based in Italy as he may be fed-up like most of us with Brexit.
Cryptocurrencies Mining Data Centre: Well we do have a Modus Operandi MO(a particular way or method of doing something) where as FG has said in the past almost everything the Company has ever invested in has ended up in some form of litigation or dispute (my recollection not FG’s exact words) but Clear Leisure does have an MO that does make you question why we get involved in so much “litigation”.
Medinapolis: This is beginning to get very irritating. We request the money and we do not get it! Why not? I believe Clear Leisure 2017 will at some point receive the funds but it does make you wonder “why are they not handing over the money if it was paid by the farmer?” Could it be that the Farmer thought he was going to lose the Appeal and was not prepared to pay the full amount? I know when I registered my interest in bidding for the Land I was requested to lodge 10% of what I was bidding so the Farmer had to pay about €300,000 so he is “out of pocket” Now could the Farmer default and the Land is put back up for auction and nobody bids for it? Was this always the way or MO that CLP were working towards, nothing now surprises me about our Company.
Ondaland Water Park: This is closer to settlement than FG is indicating in my opinion. I will let the Company continue with their MO as they obviously have a plan.