The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen 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.
ICANN hardly believe the incompetence.... At least as a positive it has rid the world of the breath test website. Every cloud...
So the Modern Water website going offline finally forced an update?
Update on Chinese site a couple of days ago:
Release time: 2023-09-07
http://www.modernwater-china.com/News-1499157.html
AIM Rule 26 , that's still a concern?
WTF! - the reason this company failed is due to all the money I’ve thrown down the drain blocking the waste water testing device! - not even controlling the website!
Www.microsapient.com
ICANN advises Created: 2023-06-27 12:39:09 UTC
Presumably not benefiting from any Labskin data or funding applications given the failure of company to advise any updates...
@boombag ,its AIM, it is the wild west, look at dodgy paddy's running Deepverge and Microsaic, anything is possible.
How can trades go through when its been delisted?
Thanks @mugginsthedog and wow the same thing is happening here again like clockwork. Gerard Brandon and Nigel Burton and the gang of conmen are share holders and directors in Microsaic and Deepverge, the conflict of interests here are unbelievable. The rumours over in MSYS forums is that they are looking to buy Deepverge or Modern Water from Deepverge, probably for nothing considering Glanaco was sold for 1 euro!!!! Selling a company to yourself sounds like its not in the interest of the private investors, I am assuming private investors in Microsaic know this is what is going on. It just is amazing this is allowed to take place.
This is what I posted previously. The modus operandi looks remarkably similar. a lot of the team are the same.
'The Emperor's New Clothes16 Mar 2022 10:10
Chris – As you do not seem to have done any proper research on our CEO I thought that it might be helpful if I gave you some assistance.
I think that would be interesting and illuminating to look at Alltracel as it is indeed supposed to be a ‘success’. It seems as if GB left many Alltracel PIs extremely unhappy when the company was sold to a US based company. It would seem that there were many things that PIs were extremely unhappy about including special deals for management, dodgy shareholder votes, High Court cases, cronyism, complaints about a lack of transparency and disputes about the takeover. By all the accounts of the PIs there was clearly some very dodgy dealing.
Astonishingly, before the deal was agreed Alltracel management agreed to receive shares and options in the acquirer giving them a real conflict of interest. Incidentally I understand that Helium Fund were also involved in Alltracel. What a coincidence.
You might want to take a look below, these are all comments from another BB or the Irish Times. It is worth taking a look at the BB starting from about 8 pages in. There is not a single PI who has any time for the Alltracel BoD/management and they were all appalled by their treatment and the side deals that management got.
‘it cost us approx £65m to get Alltracel into a condition where the Independent Directors have agreed to sell out our company for £20.8m!’
‘So our management is supporting a minus 300% ROI?’
‘the more the old Altracell shareholders were stuffed the more management will be paid in future. Not exactly an incentive to get the best price is it?’
‘it will prove a phyric victory for a number of the individuals involved in shafting the shareholders. Judas lives and breathes within Alltracel House !’
‘I would not be taking care of myself or my family if I did not seriously question whether the take-over has been handled with the complete integrity it deserves.’
‘its been nice chating on here shame about the stab in the back ending,’
‘enjoyed reading the board and posting - I just hope it all ends in tears for the grubby little conmen associated with Alltracel (past and present).’
‘i ended up with little shares, but lost a lot of money on Alltracel. Very bitter about the management and the way we've been let down, but enjoyed the contributions to this board.’
‘Good luck to all.................. execpt those irish connmen, i hope the yanks swindle them as they have swindled us,’
‘Alltracel was founded by Gerard Brandon, a former plumber, in 1996.’
I cannot comment on the accuracy of these comments but it does make one pause for thought.
Chris - you might want to consider these comments when you say what a great record the DVRG management team have, GB is not the only indivi
@mugginsthedog what was the scam over at Alltracel basically the same thing @drdoolittle45 is suggesting? With the same people? I see Gerard Brandon and Nigel Burton are very cozy here a few years back https://markets.ft.com/data/announce/full?dockey=1323-14854518-50GAVJ9NMCCP5S0T3CJJGDCF3D Is Microsaic going to buy Deepverge, what would you bet on this unfolding?
No never had an Rns about anything. Just on the dvrg share news.
DeepVerge PLC - Dublin-based environmental and life sciences firm - FTSE Russell says the company will be removed from the FTSE AIM All-Share Index from the open of trading on Friday as it has been suspended for 40 business days "without indication of resumption". DeepVerge had been placed "on notice" by FTSE Russell on July 24.
So just on notice. So nobody knows what’s going on really.
As I have said previously the Irish plumber has done this before with Alltracel. I suspect that he will do it again with MSYS.
He has completely abused the market whilst artificially inflating the SP with spurious turnover figures and effectively selling shares.
It really is difficult to see why the police are not involved.
Was there actually an RNS saying that they would delist? Surely that is a requirement.
Well done for writing to the FCA and AIM regulators, I wonder when was the last time the AIM regulators did anything in terms of enforcement. It is likely they are very weak considering the same set of fraudsters are essentially running Microsaic and running the same bag of tricks on those investors. I am using these emails listed below. Maybe we need insiders to email and write to these bodies for any action to take place.
aimregulation@londonstockexchange.com
market.abuse@fca.org.uk
I have made a list of the less than appropriate actions from some of the obvious insiders that have posted here and I am going to be digging into each and every one independently.
The glaring ones are that Gerard Brandon is now CEO of Microsaic along with his buddy Nigel Burton and still Nigel Burton is CEO of Deepverge and signing a 1.4m sterling deal for services "unknown" with Microsaic. Also Director Fionan Murray announced buying his relations company Glanaco (without mentioning they were related) and then Nigel Burton, over a year later, announces selling the same company back to Fionan Murray borther, cousin or half-brother or whoever it is running Glanaco.
And of course there is this Riverfort loan facility back in 2022 https://www.lse.co.uk/rns/DVRG/acquisition-loan-facility-for-global-expansion-eue35leih3kltrs.html and what due diligence was done here if any. I think we all need to start looking at the directors of these businesses and who is related to whom. Seemingly Brian Kinane is again Irish here: https://www.riverfort.com/brian-2 and as per the bio is involved in YA Global before and is a partner in Sure Valley Ventures in Ireland surprise surprise. Are Riverfort or Sure Valley Ventures involved in Microsaic in anyway? Definitely seem to be Irish as they have partnered with Enterprise Ireland which seems to be a state body fund in Ireland and seem to also have been involved in Deepverge at some point: https://www.enterprise-ireland.com/en/News/PressReleases/2023-Press-Releases/Sure-Valley-Ventures-launches-Irish-Software-Fund-with-%E2%82%AC15m-investment-from-Enterprise-Ireland.html
Next you have the DVRG Group Financial Controller Shiv Rawal who more than doubled the revenue in DVRG for 2023 which was completely fabricated. Is he the mystery CFO of Microsaic too, because we have not seen anything from Microsaic in way of accounts? Then finally you have the glassdoor reviews and how the staff were obviously treated throughout this embarrassment, and they all look to be true it seems from insider information posted here. Anyone have anymore information on these, the Irish lovefest seems as deep as deepverge!
It wasn’t that long ago dvrg raised £10m at 30p via the broker… presumably those investors want answers… where are the regulators? Where is the class action law suit? Where do I sign up? I’ve written to FCA and aim regulators… what else can I do! F’ing furious! GB and the bod are liers and fraudsters and can’t get away with it
I see the Irish gaggle have removed the website deepverge.com today without even a single update. I assume, that is that then, I would have expected at least an RNS to say "it is all over," but that would have been expecting a little too much from this shambles of an investment as they probably couldn't even get that RNS right without lying. I wonder will AIM go after the paddy's or not, and is Gerard Brandon the plumber still the CEO of another AIM company in Microsaic. Staggering.
Correct, they are worth zero. Deepverge has been both a disaster and a disgrace in terms of how it was run by Gerard Brandon and Nigel Burton.
Hi all. Had a small holding bottom drawered here. Did this delist today then or what ?..are all share holdings now completely worthless as opposed to almost worthless ?
Havent there been some posts deleted?
Haha delisting on Thursday, that used to be the happening day. It should have worked, all the technology nearly made it. I don’t just blame the company. I blame the Uk government as well. They don’t want change, it’s just too expensive. They will still pollute our rivers and make millions, it’s a sad state of affairs. It’s a shame that we have to take on the chin, but that’s the messed up world we live in. (Never investing in the market again, lesson learnt).
Wonderful. Added salt... From LinkedIn:
Glanaco Limited
763 followers
1d
35 brand-new Model GS200 attachment sweepers will be provided under a new contract to The Morris Leslie Group for use in their rental fleet. Shaking on the deal are Graham Ogilvie, Managing Director of Morris Leslie Plant Hire, and Mike Fitzgerald, Sales Director of Glanaco Limited. Special Thanks to Garry Howland and his team for all their help in delivering this order.
#newcontract #planthire #planthireuk #sweeper #attachments #rental #cleansitesolutions
@jez01 that is not a new website for glanaco.co.uk, it is years old and Glanaco could be expanding in to the Moon it would not matter they have been sold and are now private for a remarkable 1 pound!! Should you not be reporting that the websites labskin.co.uk and also skintrustclub.com seem to no longer be available!! It really is the end of the road and Gerard Brandon and Nigel Burton really did do a number on everyone.
New website for Glanaco's UK expansion....
New Production Manager Stuart Buckham who was with MTST Structures Ltd at the same address: Ridge Farm
323 Woodlands Rd, Woodlands, Southampton, SO40 7GE
Yes looks that is that and the insiders posting were all correct and the rampers like T Rat and co were still posting the nonsense until the dying moments. Really is something to go through for the company staff and investors. Amazing deception and not even a set of audited accounts to end it. Lessons learned.
Time to face facts, Gb and the rest of them were con artists anyone invested here has been done! I’ve lost a significant amount as I was greedy and risked too much bast on lies and deception
Time to painfully move on
GB you should be in jail
Https://www.lse.co.uk/news/DVRG/in-brief-deepverge-to-be-removed-from-trading-on-aim-on-thursday-00fc5sbhscxcow2.html
Does this mean it’s being delisted complete?
The head of Cork engineering services business Glanaco has said the firm “got out in time” from its former parent company Deepverge after a €1 management buyout.
Deepverge, an Irish-headquartered technology firm that does much of its business in the UK, bought Glanaco for €1.3m last year.
It has now agreed to sell Glanaco to Tony Ryan and Michael Fitzgerald, the current management and previous owners, for a price of €1.
The pair will be 50-50 owners of the firm, which employs 23 people.
Deepverge has been looking to dispose of several non-core businesses after developing severe financial issues which left it facing difficulties supporting several of its subsidiaries. In June, it was temporarily suspended from the UK-based AIM stock market due to the issues.
1:35
On This Day In History - August 10th
In a statement, Deepverge said: “Since the acquisition of Glanaco in March 2022 it has incurred costs and liabilities related to other parts of the group and has been left with insufficient cash to continue to operate as a going concern.
“By transferring the business back to management the business and associated jobs will be saved, and the group’s net creditors will reduce by approximately €0.5m.”
Nigel Burton, the interim CEO of Deepverge, said the move was done to save jobs at Glanaco.
Mr Ryan, the managing director of Glanaco, said issues arose because of how Glanaco was subsidising other parts of Deepverge’s business. “Glanaco is profitable. We saw they had layoffs in the US and York, so we made them an offer to buy back the company.
“We have some good contracts in the pipeline and thankfully it won’t affect us too much, I think we got out in time as we saw this coming.”