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The Sh*ts bought Glanco for hefty sum from their mates, used our money to built up the business and then sold it back to the same owners (their mates) for a euro.
... to GB and his mates. They run Deepverge into the ground with their b.llsh.t and then cherry pick the assets for 3/5 of FA.
Who says crime doesn't pay? And you're right, the FCA seems to be totally toothless or else it doesn't give a toss for us small investors. That man's making himself some seriously bad karma though.
Where is the investigation into this? At least one person belongs in prison.
At least I can claim C.G.T. credit from my substantial losses. problem is I currently have no investments that will make meaningful profits to benefit from this.
A Nobel Prize for lies and deception should be awarded.
Anyone who goes anywhere near stock under this management particularly GB is mad
Crooks the lot, their lies and fraud have genuinely ruined some people and I wish the toothless authorities would do something. I have written to FCA market abuse aim regulators etc no one is listening no one cares
It does indeed seem as if MSYS are buying the assets of MW.
Could this get anymore bonkers!!??
No doubt that they will pick up the assets for nothing, leaving all the liabilities behind for the shareholders. As the management team are pretty much the same it is an internal transfer which, no doubt, the MSYS BoD will do very well from. I suspect that the merry go round will continue.
There are 2 big losers. The PIs and staff.
It really is shocking.
Looks like Microsaic (which is Deepverge PLC effectively as its the same gaggle running it) is eying up the acquisition of Modern Water for probably nothing and the circus will start again this time under the cloak of Microsaic. Karma takes time but hopefully it will rain heavy when it does.
Its amazing just how much he appears to have got away with it all. Straight up lies and dodgy dealings here and at MSYS. Leaving myself and many other PIs shafted. I do hope Karma catches up with him.
Without the regulators or the law having a real go at GB and the rest of the DVRG board I fear that GB will be on his next scam shortly. His behavious has been an absolute disgrace and I am mystified that he has not yet been banned as a director.
Turner Poop have also been a disgrace. Their so called research with completely meaningless SP expectations seems designed just to act to lubricate all the dodgy shares that they received.
Perhaps the most shocking though are all the GB fanboyz who kept ramping the stock when it was clear to anyone with even half a brain that the trapdoor was getting ever closer. It is a shame that the cretin Chesh, who was a self confessed financial illiterate as well as being illiterate, is noticeable by his absence. What a moron.
So the carrying value of intangibles and equipment is now worth less than £0.3m disgraceful!
May Karma meet with you one day.
Don't rest in peace Deepverge.
I truly hope the regulators investigate this lot, but I won’t hold my breath on that!
Not even a set of accounts for 2023 from these inept gangsters : https://www.lse.co.uk/rns/DVRG/update-zafig1s0p5e95yx.html so may that be that.
For what it is worth as of 5 Dec you can add Modern Water Limited to list (First Gazette notice for compulsory strike-off):
https://find-and-update.company-information.service.gov.uk/company/05963927/filing-history
Does anybody know what's currently happening? I note that the strike-off action against Deepverge plc was discontinued on 10th October but that the subsequent strike-off actions against Integumen Ltd and Modern Water Holdings Ltd are still ongoing.
Was this simply a procedural matter (trying to strike-off the ultimate holding company before striking off the subsidiaries) or has somebody contested the strike-off action? The fact that a listed company can be allowed to be struck off without the chairman/CEO being legally obliged to provide a full explanation of the actions of the directors to shareholders (particularly with regards to the company's demise, the false and misleading statements issued to the markets, and the attempts made to realise the company's assets) is a terrible indictment of the current system.
The rules need to change. The directors, particularly GB, should have been automatically banned by the FCA from holding office in the UK in any shape or form as a result of the false and misleading statements made to the market . It should then be for the directors to have to go to court, in their personal capacity, and explain their actions if they want their ban lifted; at least that way the shareholders could gain an insight into what has happened and/or future debacles might be avoided. The law is too lenient on rogue directors.
"Unaudited" is the only word one can trust in all this BS. Imagine 5 sales in Microsaic in 2022. 5!!! The gutting of the shareholders that are left will start now it seems, after all as per this statement, microsaic is deepverge and deepverge is microsaic.
RNS Number : 4850V
Microsaic Systems plc
04 December 2023
The unaudited revenues for the year were £1.57m, representing an uplift from the £906k achieved in 2021. However, of this revenue, sales to the related party DeepVerge plc ("DeepVerge") or its subsidiaries totalled £1,248,828 (plus VAT), of which they have only settled £118,659 (plus VAT) leaving a balance of £1,130,169 (plus VAT) outstanding. On 19 April 2023, DeepVerge announced that it could not meet its obligation to creditors and that a payment plan had been tentatively agreed with Microsaic. However, on 26 June 2023, DeepVerge plc announced that it would no longer be in a position to support its subsidiaries and was anticipating a sale or liquidation of these assets. The impact of this on the Company has been recognised as an adjusting event after the reporting date with £1,130,169 charged as an impairment of related party debt. Excluding revenues from DeepVerge, revenues for 2022 were only £318,869, significantly below the prior year. Only 5 units were shipped in 2022 before year end, compared to 19 in 2021. The results for 2022 and the prospects for 2023 and beyond therefore need to be considered on the basis that no further payments and no further revenues are expected to be received from DeepVerge or its subsidiaries.
https://www.londonstockexchange.com/news-article/MSYS/publication-of-circular-and-notice-of-gm/16235502
Imagine if they actually did something on time or competently!! December tomorrow and as usual a nothingburger, zero, nothing from the gaggle.
28 Nov 2023 First Gazette notice for compulsory strike-off
Just noticed that the following is due to be announced tomorrow.
Does anyone have any update, and
Does anyone know anything about this company CELLULAC PLC
Company number 08625818 it seems our friend GJB is still a director, largest shareholder and lives in Poland ?
Interesting shareholder list which maybe friends and family.
I think you need to rephrase @mugginsthedog as the conmen have done it before (long before deepverge) and have now done it again (Microsaic see the latest RNS!!!) and will as you say do it again, likely in the January window when they go back to the funding trough!! No sooner had you posted your thread here that they had done it again ha :)
Microsaic pathetic RNS now that they cannot drain money from Deepverge anymore, it looks to be all over, or is it as they go private: https://www.lse.co.uk/rns/MSYS/funding-operational-update-intention-to-delist-v6mf9a1vgqw0opx.html
The conmen and crooks have done it before and will no doubt try and do it again. It is sad that so many PIs were sucked in by the rampers, no doubt many of them paid. Tragic that the rampers are too scared to show their faces on this board. We really need that ignoramus Chesh and his merry band of to show up here and apologise for getting this so wrong. Shocking that anyone who pointed out the clear and obvious fraud by the management team got shouted down.
The other important thing is that everyone is warned about the crook Gerald Brandon who should be never allowed near any public market ever again. I fear that he will try. He has done it with Alltracel, Modern Water and now DVRG. No more.
To be honest you called this very early @mugginsthedog obviously you had dealings in the past with these con men. Chesh and co I am sure were all colluding, would be a shame to see anyone else get duped by this shower.
The behaviour of the rampers was shocking. As you suggest I suspect that many of them were paid by the company or were company staff.
Hardly surprising that we have not heard from them but it would be interesting to hear the self confessed financial illiterate Chesh’s view? Come in Chesh give us some of your wisdom?