Tim Watts, CFO at Shield Therapeutics #STX presenting at our Life Sciences Investor Briefing Watch Now
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Been in this share for sometime , and i along with all other investors was taken by surprise at the delisting on 24th december.
I can understand the radio silence as others have put it , with so much going on with Court Cases and if NDA'S and MOU'S are in play it would be unwise to rock the boat at this time.
Yes it is fustrating for all involved . My way of looking at it is , i have written this one off at prescent so i take it out of any equation when assessing my portfolio .
If it all comes good that would be a fantastic result , but until then all we can do is wait and see what the outcome is.
Good luck to every one involved here
What if hope takes the lot and sells it but later on we win the fiduciary case? Cant happen can it it's all got to be dealt with as one...?
Initial post copied from ii was a food read but incredibly over optimistic - and I say that as someone who tends towards the optimistic. This is not to say that we aren't in a strong position. But we don't that as a fact. We only getting to such a interpretation via processes of triangulation. That said, that's all we have to go on most the time. FWIW, I agree on the following
- if no news by end of year and we still ticking over at Block 12 then reasonable to interpret that as signalling we've survived default
- ZM and SN may not seek to sort earlier if they have evidence. No way they will tell us they have or that we will find out (unless there's a leak). Remembering that default not connected to the court cases bring pursued into next year. Can imagine though that if default sorted and Block 12 safe, they may still pursue the case against Hope because they really have nothing to lose.
- we many not for a while as a) depends on where they are with default and/ or b) NDA s. If default is addressed it could be, as others have suggested, that NDAs prevent any proper comms. Indeed, is possible that WTI/ Liquidators not provided sufficient details for the reason of those NDAs.
- is possible that default not fully blocked or that solvency not established but the asset transfer has succeeded. But NDSa still stand.
Should have said hopefully given Frr enough time because if they are no where near clearing this **** up after all this time then chances of ever would think be slim.
As we know though Frr must be serious on the Dolphin project going on they are going to court over it. So on that they can only do with some sort of backing/funding.
You have to remember we brought this on ourselves so zaza and the bod must of planned this in advance with their legal team to first of all get rid of him and to by time to either get funding or to get more wells operational whatever the outcome fingers crossed it's a good one for us...
On as far as Hope, is concerned. Would be thinking that at the start of this crap that he thought by now he would have got what he had wanted. So on that Frr have given him a not so nice surprise through the moving of the asset of which means if not already it would have given Frr enough time to at least by now close in on getting this all sorted in their way.
I've brought that up numerous times about the 6 mill they owe us it would certainly help in keeping lights on after all it's our money..
Yeah they havent been paid. Ask for money then we tell on you. Swallow It hahahaha. But 1 major concern I have is the 6 million the GG owe frr. Not many on here pontificate over that 1. In my opinion thats why the GG are backing frr in whatever they do. Cause they aint giving frr the 6 million back hahaha what a corrupt world hey. Having said that they are no worse or better than the western govermentd. Liars. Fraudsters, and mug punters like me and my dad
Does anyone else here have trouble with advfn with regards frr its disappeared? I have no trouble with others advfn will not recognise the company exists.. strange
If ya havent been paid would you come calling considering what they were upto many months ago? They could go the same way as Beaufort securities. Just a thought
Even though we are I am sure now around 2mths, since YA was due to be paid off of which, if they had not I would have seriously thought that something had come out by now.
Overall though having it properly confirmed would be great & that is one thing For surely could have put out a brief statement on.
Hope will know if YA have been paid and what that means. If he feels he can get 500 million shares he will dig his heels in . I wish we knew if YA had been paid as that's really significant as we are not in any dispute with them. We presume they have been but we need confirmation.
And lets have it right. Zaza did a hell of a lot of talking when he was looking to take our money. Not angry, just saying it as it is!!!!!!!!!!! I didnt buy these cursed shares, I was given them. But do you know what its left a bad taste in my mouth, and im a relative newby. Never mind Bob Hope its all terribly wrong
I wish Zaza would give us a hello folks we are still here fighting for frr, and shareholders ( thats what court cases are about correct, giving no sensitive information away there then ) Instead of flying around the globe instructing lawyers to take the Ukraine Goverment to court when we are up to our necks in very complicated legals in different Juristdictions. Wouldnt you lot agree, or is it attack attack attack. What I have said makes a lot of common sense, and is logical. The main aim of such a communication would be to calm the nerves of heavily invested shareholders. Surely thats not asking a lot. IS IT ?
If you give to a taker what will a taker do?...
...Come back for more.
The only way to deal with these sort of people is to make sure they cannot "come back".....ever.
How quick this gets resolved depends on Hope's dawning of the inevitable...if he acquiesces within the next 3 months he may come out in pocket, if it takes him 12 months plus he may be destroyed...
Of course as always IMHO :-)
im sure i read somewhere a while back thats exactly what was offered to hope
might be wrong
I wish Zaza would say “here’s £10 million now FO”
Believe me I don’t want the leech to make millions out of this however if that’s what it took to end all this that would do me.
Would it not be a case if late stage discussions were to be going on with any major in regards of T/O Farm in etc, that FRR would limit the information but say they have method to pay all debts.
It certainly could be argued that the company releasing the intimate details could harm the deals and company.
I would see it a suicidal if the company have lied to the court about prospect of paying off the debt, it would seriously damage our case.
It is possible, however unlikely that the source of paying off debts by FRR has been confirmed where when pushed it is if and when they win case against OMF for 56 million. That of course is not guaranteed and i would be very worried if the case.
I am in hope that this will be proved with a sale of rights, company or farm in with a major and of course increase in production and profit.
The positive is what has kept the lights on, when we closed on LSE, the finances looked like they would require a boost within months unless the production and profit from revenue increased and fairly rapidly. So can we assume that a cash injection or production has increased hugely since news blackout.?
I would say, unless the company has stopped all production, then yes something significant has happened over in Georgia financially. Even without production and so no spending, the company would shirley have been doomed by June.
I take this as a huge positive
I still feel we will come out of this okay, but no idea how long before we see the light
Agree ZiggyZag. Could argue on this that Frontera will play the courts to the maximum they can. As we know this is going to be a long and drawn out process at every opportunity especially where the liquidators and Hope/OMF are concerned.
Supportive post from the guy on II but not wanting to be negative I feel his ref to DOS does not correctly reflect where we are in that respect .
DTI have sought court order citing a number of reasons , one being that whilst DOS had been signed & submitted they have not been provided with any info , which infers they cannot substantiate validity re ...all debts paid in 12 months re FCC .
Looked in on court listener site for any update re texas case
Last I looked showed only 4 below and I posted 21 days up on 23rd
4.Aug 2, 2019Main DocSummons - Request for Issuance
now has 5 below
5. Aug 5, 2019Main DocumentSummons Issued/Not Issued
So assuming it has been issued ......21 days is Monday for response
On as far as the default, is concerned that would think will be sorted by year end & with the pointers that have come out over Dolphin the chances of it being in our favour, look to be going in our favour.
On above being the case then would want Frr to come clean on this around same time.
The Frr claim overall, is peanuts compared to what the default can mean, if goes wrong.
As usual time will give the answer.
A good post pophead and it sounds reasonable and feasible.
Maybe we can look at a further 12 months of insecurity as this plays out. I have asked Yorkville to confirm if they have been paid, if a new deal struck or if FRR have defaulted. So far no reply but as a shareholder this info should be available.
I struggle to find any info on rigs used by BHGE in Georgia, i have found nothing to confirm or deny they are currently operating with us. Without listing the company have no requirement to keep us informed.
I do wonder if they are more involved in workovers and new techniques on current wells - this radio silence is so hard to live with.
Anyway off to enjoy the sunshine so just wish you all a good long weekend
Nice positive summary post over on II from TumshieHeid
Been a while, frustration subdued, did a bit of a catch up and, if I understand, I think;
FRR is not dead, far from it…
In the Caymen’s case, FRR have moved the asset, leaving the case against a ‘royalty only’ subsidiary. The liquidators have accepted FRRs solvency declaration, with expiry around June 2020, so $30M due around this date. Hope/OMF must know they have no chance of ever getting $30M.
The unpaid FRR legal fees, who pays for a service that was not delivered as agreed?
In California, FRR sue Hope/OMF for $56M by jury trial, with end result around Aug 2020, but with chance/option of ‘agreed’ resolution along the way. If FRR have evidence of Hope and others collusion, then Hope/OMF must know they can’t win.
It appears to me that FRR have tied Hope/OMF in knots, well….
Why would FRR pay Hope/OMF $30M a couple of months before suing him for $56M?
The only bargaining power Hope/OMF have now, is ‘nuisance’ value, i.e. delay, disrupt, etc. They must be hoping FRR will say, “Here’s $10M, now F O.” However, I think SN/ZM want to ensure that Hope/OMF do not profit from their actions, including the original $4M investment, so, FRR will want to take this to Aug 2020, and will prepare by;
Maybe lodging/or not, depending on whether FRR want to completely ruin Hope/OMF, around $4M in the ‘royalty’ subsidiary (Hope’s original investment) All parties know there is nothing of value in the subsidiary to claim against, so Hope/OMF legal team will advise ‘take it’. So, FRR are in total control, of how much, if anything, Hope/OMF receive.
I have no doubts, in California, a jury trial, as opposed to legal argument, will find in FRRs favour, i.e. right; decent honest people trying to create value, versus wrong; someone trying to manipulate circumstances, to steal the company for selfish reasons. Again, FRR in total control.
So, what about the $56M figure? This is a calculation done to ensure that Hope/OMF do not profit in any way from their involvement in FRR, including, as part of any court award (as Hope/OMF do not have $56M) the return/handover of Hope’s current shareholding, from his original $4M purchase. If this is what is happening, Hope/OMF will be lucky to get out with his original $4M investment.
Finally, by Aug 2020, it will be 1 year 8 months since delisting. How many wells will BHGE/BP have drilled by then? Glad I’m not a shorter in this…
Just some ‘ifs’, all just IMO, could be BS, time will tell…
Best to all holders.