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Good post deckchair66,
There is/was a group of NNN shareholders that were looking to go down this route, but as only having a very small number of NNN shares, I did not want to risk throwing good money, after bad. I think, they were looking at a few hundred quid to join the group
Hopefully, this group did get enough investors to sign up, and any future court action is successful.
One of the best lessons, regarding the behavior of board members is, if the company is on AIM, they can probably get away with almost anything.
As for the FCA, they are as a watchdog, as useful as a Rottweiler with no teeth.
I have been watching NNN thriugh Companies House for many months and no news or developments
Guys swing over to Bidstack ..also click on the link a few posts in. Looks like these sh are gonna have a good go at the legal route.
I've had others that have delisted before; I assume I still own part of those companies even if they do not have a listing anymore on a stock market?
Is that wrong?
I've no idea about the legality of it all. I would assume they have kept it legal but really don't know. Legal or not, it's the shareholders that lose out whatever happens. Now they've delisted and don't need to release news to the market all you can do is look at companies house document filings to get a clue as to their future.
The Syrup,
Fully agree what you say, but surely there is a rule/law somewhere that says shareholders can't just be written off this way, otherwise whats to stop other companies doing exactly the same, then coming back as a private company.
The phrase, 'It stinks to high heaven' looks to be very apt.
Seems to me they forced the delist on themselves, ie not submitting half yearly accounts, stating they were going into admin... They effectively got booted out of AIM on purpose so no need for a shareholder vote etc... just they way it seems to me. All these months later and only Virosynth seems to be getting wound up. The other parts of the business have a new registered address. Cave and co can do what they want now without the burden of a market listing on them. Goes without saying that Cave and his mob has shafted the shareholders. All IMO
As I understand it, a company can't just de-list and then go private if part or all of it still has any valuer, as shareholders are shareholders in the company and are therefore entitled to a share of the companies value, even if that value is only from any assets either current to the de-listing date or/and on total winding up of that company.
Mind you, nothing would surprise me on the AIM market.
They've delisted from AIM so no longer obliged to release news via RNS. Company still seems to be a going concern, other than Virosynth which are being wound up. Suspect this was the plan long term, delist from AIM and just carry on without the agg of shareholders breathing down their neck
And You.
Thank you Rooky, appreciate the quick reply mate.
Hope you all have a good easter break.
Ritz,
As I understand it, it's all down to any government dept being utterly broken
1 Companies house appears to be late in any updates (probably all working (sic) from home.
2 The FCA no longer appear to even acknowledge any complains (made 2) also working (sic) from home.
3 Re change of address, presumably they don't have to give a reason because who in any gov dept cares.
4 Yes, as far as I know, still going under, but can't confirm as again, no gov dept appears to care.
Wish i could give a more detailed reply, but the country no longer works for, or cares about private investors.
regards Rooky
Hi All
Hope everyone is well here.
Sorry if this is a stupid question due to my lack of knowledge on companies going into insolvency, but what is going on here? We have had no updates since November.
1. No updates
2. Company still showing active on companies house
3. They randomly change their address in Feb.
Can anyone provide any guidance? Is this still going under or is the lack of updates somewhat a positive thing?
Ritz
Hope so with these big losses we have .
News I expect
Castle
Dear All,
Meanwhile, over at IQAI, we seem to have a problem with the BoD. The problem seems to be one that you had.
I have now had interesting conversations with fellow "whistleblowers" re: the IQAI problem.
Thankfully, IQAI is "main market" and therefore more accountable ... and the SEC (USA) in particular is more prone to investigate any claims due to this. IQAI has USA-based BoDs.
Just to note, I am not a sizeable investor in IQAI, I just don't like to be treated with disrespect ...
Is there anyone here who has the time/inclination to chat through your RMS/NNN problems with me?
Please email me: iqaicomplaints@gmail.com
-- BB --
Mild humour: I have just seen that even Aldi have a copper infused product, a pillow !!!
Luckybob23,
I know the tech re copper worked thousands of years ago, but it was the advancement into its use in masks as micro particles that was the innovation.
You can't equate the NNN tech with such as copper used as they did 1000's of years ago.
I stand by my post of 13th.
"Somewhere along the line, there has to be fraudulent behavior.
Take the Covid mask saga alone. If the copper tec part of the mask worked, and part of that tec worked in air filters as stated in at least 1 RNS, then there has to be some value in the patent or/and the IP.
If the tec did not work, then surely that has to a case of fraud on a stand alone basis, due to what the company promised in it's adverts, regarding the protection given by the Covid Masks.
No one, especially the FCA appear to be interested."
Rooky, the tech worked, it dates back 1000s of years.
The only fraud committed here was by lying rampers who flooded this board and every other board during covid, dragging anyone in they could so they could ten bag on a trade.
The country was desperate for solutions , it was a great idea but as soon a vaccines came out the concept was too expensive to implement and sell , it was no longer a viable business. They tried to get production going , They tried to expand into other niche markets to make it viable but ultimately it was a novelty and the interest wasn't there.
Before anyone comes at me with "we're gonna need a bigger boat"
It was an off the cuff remark based on his much interest was shown pre vaccine, perpetuated by ramping day traders who sold up as soon as they could see it was going down. Probably them sending continuous fake emails expressing interest in ordering the product to cave in the first place.
That's the reality
BRH seem to be due a windfall too with the Proposed sale of Phasefocus.
Didn't TB have links to Barnsley?
Coincidence?
It says the Institute for Small Business and Entrepreneurship is based there....maybe why so many small companies are listed
Old Linen Court
83-85 Shambles St
Barnsley
S70 2SB
Shambles Street lol, you couldn't make it up. Loads of firms are using that address as well.
Companies house has changed all of Dr Caves Companies address today.
Somewhere along the line, there has to be fraudulent behavior.
Take the Covid mask saga alone. If the copper tec part of the mask worked, and part of that tec worked in air filters as stated in at least 1 RNS, then there has to be some value in the patent or/and the IP.
If the tec did not work, then surely that has to a case of fraud on a stand alone basis, due to what the company promised in it's adverts, regarding the protection given by the Covid Masks.
No one, especially the FCA appear to be interested.
Correction: just saw an email from T212 saying the delisting was now complete. Worst "trade" of my life by far...