We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
LMFA dropped a further 10% yesterday in America. They then released their quarterly figures after the close, and it's fair to say they were not very good. Mr Pajak can certainly pick them..current price is 0.90 cents and he shrewdly paid $2.40 and $1.28..
What's he doing???
You may be right LJ but looking at the timing it could have been a fill or kill sell which got filled as the big buy came in. Not that it matters does it? lol
That supposed sell this morning at 2.90 was most probably a buy as well...
First buy in many a week took place earlier today. In fact it's the first decent buy for many a month. Let's hope the buyer knows something and aren't on some care in the community scheme.
Since my last exciting post on our investment in LMFA it has dropped a further 10% or so and looks likely to drop further. As for DLC? You can't help but laugh at how Craven said it had increased in value due to the rise in share price to 0.28 Canadian cents, that figure is the ask, the bid is 0.01 Cents. There hasn't been a trade in DLC for 4 weeks.
It's got to the stage now that investing in CRV/LMFA/DLC is getting laughable as my portfolio value just get's worse by the day. I used to be very confident that there was a plan, and at some point I would be rewarded for my patience and loyalty. As you can tell..I don't feel that way any more. As my friend Rusty has said, we are all (Those that are left..) being taken for mugs and I think he is right.
Might be able to get out at some point but with heavy losses imo.
He will want them as cheap as possible you can rest assured so the battle to grind down PI`s continues. Shameful really.
Always said they wanted the trappings and benefits of a public listing but to run it like his own personal company with a few old boys in the loop.
Where are all the apologists now?
Appears Mr Pajak falls out with everyone. Met some lovely CEO`s. He isnt one im afraid. Astounding arrogance.
If this was an appealing prospect people would be buying. They simply do not believe a word that comes out of his mouth. Probably as people have seen the utter dross that's been invested in!
33 days ago Craven officially announced that the " final formalities " were being completed in proposed share buyback.
Share buyback Update
The High Court has approved the reduction in share capital which is now subject to final formalities before being completed.
One would have thought keen eyed players would be piling in here with Craven stating they would be looking to spend up to $5m buying shares at up to $10...I think it is fair to say that Mr Pajak is not believed in the city, by his beleaguered shareholders, by past directors, by anyone.
Last share buy in CRV was the 4th July of 424 shares. All life has been sucked out this company by totally inept management.
Maybe the new company secretary will buy a few shares? Maybe she wont..
Mr Pajak was asked reference the supposed buyback if there were sellers waiting which would allow CRV to spend their proposed " up to $5m " at a price of "up to $10 per share". The answer was no..( I don't believe him ). Was also asked if they would be prepared to put an open offer on the table for shares from PIs? The answer was no...
Question is: how do they expect to purchase shares when we all know how illiquid we are? everyone knows that anyone investing say £25k would send this haywire, putting out an offer of say $5-$6 per share would be a lot more beneficial and cost effective than buying them on the open market. It makes no business sense and is the reason i simply do not believe him. Should this buyback ever take place I would wager various " friends " of Pajak will be out the door. You can't just accumulate shares without there being a willing seller.
From 3/7/2019
Share buyback Update
The High Court has approved the reduction in share capital which is now subject to final formalities before being completed.
The only thing that has happened since then is Brian Winters leaving...once again there was no reason given for his departure just like his father in law. No thanks, no best wishes for the future, nothing..
Fair to say that there has been some sort of difference of opinion or someone not liking the company direction? Whatever the reason it is still puzzling to say the least.
It is now coming up to a year since the share buyback was first announced, and have we ever seen a more disorganized bunch of cretins running this firm? Being fair..chief cretins assistant has gone and we now have in place a lady with a funny name. I have trouble understanding what she brings to the company.
As you quite rightly say Rusty, nobody has ever denied themselves a few quid if it is there for the taking. Ms Eavis wasn't complimentary about Pajak when she decided to step down...When I say step down i actually mean don't let the door hit you on the way out Alexandra. I actually don't dislike Pajak as he is certainly a clever man. He threw me completely when he said Desmonds hadn't taken their performance fees but had left them in the company. Whether that is true or not it immediately killed the questioning about the fees paid.
I now have to wonder what will happen from now? I don't see Rambo or Mr Bindra ( what do they actually do??) contributing to the future of the company so i will now assume Pajak will bring in fresh faces ( Americans ?) to assist.
After all we aren't a sole trader company are we? We do seem hopelessly understaffed considering we have serious interests across 3 continents. Looking at some of his deals it is clear he is out of his depth and the " advisors " are neither use nor ornament from what I have seen. When ordinary small time shareholders have to e-mail them to ensure company info is put into the public domain it is pretty diabolical advising I would say.
That's what concerned me the most. Burrows 1000 shares. Winters none. Your not telling me if this was as amazing as we are led to believe they would be piling in. Alex Eavis as Tully said dumped them straight away at whatever price she could get. I believed she described Pajak as a slimy weasel. Having met him I just can't take to him either. Let's see this share buy back get going and hopefully it will allow some of the long suffering holders here to get out with a nice few quid.
Comes as no surprise to me that Brian Winters has gone. I have e-mailed him on numerous occasions and he has always been extremely civil until the last one..
He had the right hump for no reason and i said to my friends Karina and Rusty that I reckon there are problems and that perhaps he isn't on the same page as Pajak. Just like Ms Eavis before he has been compensated with shares but at a price of $12.50 per share. Whether he chooses to sell them immediately like Alexandra remains to be seen, all depends how upset he is i suppose.
Lots remain unexplained about Mr Winters going and of course his father in law as well, especially all the shares his wife has or had which disappeared as soon as Karina sussed it.
Thank goodness we have about 3 times the current MC in assets alone otherwise it could be concerning. Maybe the new company secretary Ms Tamra Spink can put her hand in her purse and buy a few shares? Brian Winters never risked half a crown and his father in law was only just in front of him..
Let's see where we go from here, bloody nowhere is my guess.
I'll tell you why he has the nerve. Other than one or two awkward questions at the AGM he has no one to answer to. He gets away with absolutely everything. Seems a long time ago since the Green aisle Hotel success..
Our illustrious leader and chief investment guru is really excelling himself these days isn't he?
Not content with investing $1.5m into LMFA at a price of $2.40 per share he decided to top up investing lumps more at $1.28, LMFA current price is $1.13.. He also is committed to lavishing millions more at $2.41 per share once permission is given by shareholders at a meeting which has been postponed twice and no further date has been given, I wonder why?
If you think AIM is bad you should check out NASDAQ, talk about the wild west and they aren't falling for Pajaks tricks that's for sure they are getting out of LMFA lively.
Even with his track record of failure this is surely one of his worse investments on behalf of his beleaguered shareholders..Whats the betting he plows even more money in? He either knows something the Americans don't know or he is simply narcissistic. I hope it's the former..
Mate of mine called me last night and said " why are you still with this idiot?" Only reason I could give was that monies owed to us ( with security in place ) from Angola and America more than cover the market capital of Craven. Even if everything else we own was deemed worthless and that's impossible, my money should be safe should things turn really bad.
For what its worth I think we will carry on like this for well into the foreseeable future. Share price will hover around this level and Desmonds will still get their " performance fees " I don't know how Pajak has the bloody nerve!
Advfn reported that trade from yesterday whilst LSE have it down from 2 days ago. Reminds me of when Evan Kalimtgis was buying absolute lumps but hardly caused a ripple in the market. It could also be a start of the buyback?
"The High Court has approved the reduction in share capital which is now subject to final formalities before being completed"
Whatever it is you can't do a trade of that size without there being a willing buyer or seller to cover it.
Noticed a big 20,000 trade showing as a sell, but doubt they'd be giving 2.90 for that amount so guessing a buy, which shows there are buyers, any other thoughts on that.
Hi Tully and others,
The update was welcome, but didn't tell us anything we didn't already know, as nothing particularly noteworthy has happened since the last results.
I would buy more at the current prices, but I already have a lot.
More patience is required......