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Anyone on here with "proper" knowledge.
Is there a way to force the company to say something about where we are?
OK, I guess email but to where? Anything which can be said to force response like, "the riles of the company association requires you to inform investors" etc etc. Something within the rules of a company or the duty of the chairman, ceo or md......if we have any of these.
A contact mail for DR Cave or the company officially ???
Well we're in the hands of -
Or new secretary
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.msporganisation.co.uk/&ved=2ahUKEwjO-sHFvfKBAxWUYEEAHZSzASwQFnoECBoQAQ&usg=AOvVaw0PO4I61hWX74H67h0qiEzs
Castle
Hope
Come on Dr cave you can do it.
New Business minded staff ....
Castle
Resolve were only going to be the liquidators, if appointed but NNN changed tack and had "interested party" so AGM didn't happen to vote on liquidation.
I, like you, am skeptical of financial organisations and agree something smells. All dandy and then "surprise" money gone, no news and everyone except us Pi's carry the can!!!
Prime,
Re the reply from Resolve, "We are no longer instructed by the Company so I’m afraid we cannot provide any further information."
Makes me wonder if Resolve knew they were bending the rules (I am being kind with that wording), so they have decided it was no longer worth representing NNN. If if that's correct, I will still be exposing their past actions in this matter as well as looking into previous behaviour of the company and it's directors.
In matters of financial actions that I consider hazy in clarity of law (kind word again) I am not the forgiving kind.
Far too many organisations turn a blind eye (FCA for example) when it comes to backing corporations against the individual.
Ah apologies -laziness on my part
Private ryan: they appointed joint brokers already. Look at the RNS'S. Think it was June.
RNS 14th June 2023 "the Board has determined that the proposed general meeting to be held at Finncap Cavendish at 10am on Thursday 15th June 2023 be adjourned to allow the interested party to complete its due diligence"
Anyone any idea how long it can possibly take to complete due diligence on a tiny company like NNN ?
My question is similar to the one I have posed about how long can it possibly take to produce accounts for a tiny company with very small turnover?
Any semi accountants out there who are PI's and have a couple of days to spare? I'm not accounts but can do mathematics competently and would help....money in, money out, assets = accounts done!!! (Before anyone jumps in with negatives, yes, I do realise it's a little more than this.......but not much!!!)
Maybe an email to Volz next to ask them what is/has happened to our joint venture company/products????
They need a broker to be able to relist so not necessarily good news
Excellent news prime , hoping for a good outcome now that conman duffin has gone , hepa filters and volz will help recovery, I expect a lot of productivity going on behind the suspension getting ready for productivity and then open trading with some restrictions until at least a product is going
Castle
Rooky: I sent an email to Resolve a few weeks ago asking what is happening and got this reply:
"The directors of the company (NNN) adjourned the meeting of shareholders, so the Company did not go into Liquidation. We are no longer instructed by the Company so I’m afraid we cannot provide any further information."
Cheers, Godber,
I will endeavour to update here asap, should the situation develop in such a way that I need to resort to the actions mentioned.
You are spot on regarding NDA'S, and the very fact that you were even advised about confidentiality a d permissions needed or required is disgraceful.
The FCA can be a toothless tiger unless there are big headlines to be had, but all you have needs to be reported and relentlessly persued.
Wish you well.
Although I have not fully given up that something might be salvaged from the mess that is NNN, I have sufficient notes ready to compile my report to the media, re both the behaviour or the company, plus the total sum of the FCA ignoring and even not acknowledging my initial report to them.
My first contact will be to a freelance reporter, who has written several newspaper articles, mainly for The Telegraph, who although not a reporter re financial matters, will be able to (hopefully) put me into contact with a reporter who does.
I am determined to get my facts published, including the facts and comments received from Chris Farrington (resolve group) which included this comment.......'Please note that this response is strictly private and confidential, and you are not authorised to share it with any other party other than as may be required through the insolvency Complaints Gateway if you choose to use it.'
I did not sign, or was asked to sign any none disclosure agreement, and even If I had, I deem such an agreement not to be legally binding, under none disclosure rules.
It is very difficult being patient, but the timing of such disclosure to the media is crucial.
Any comments, welcome!
BoD and CEO have been gone no money left and no one working so what is left. NNN doesn't hold any IP too as it is licensed from other party. Only hope left.
Makes you wonder whether this is the plan... by getting kicked out of AIM by default. Half yearly report is overdue past the final deadline (end of sept), 6 month since suspension getting close..
Wasn't there supposed to be a GM to vote on cancelling the listing on AIM. Getting booted from AIM makes any shareholder vote irrelevant.
Rule 41 of AIM
The Exchange will cancel the admission of AIM securities where these have been
suspended from trading for six months.
We have until 15 November by my reckoning .
The two RNSs announcing the resignation of Duffin and the Finance Director may give clues as to what’s been going on. Finance Director resigns and is publicly thanked. Duffin resigns with no public thanks. I think Duffin got the heave-ho but Stedman the FD possibly went honourably. Either way, the good Dr is now in charge after a succession of bad CEOs intent on creaming shareholder cash for themselves without commercialising anything. Dr Cave may not be a businessman but the tech IP is rightfully his. Reading between the lines in the CEO resignation RNS makes me believe no investor would go near NNN with Duffin at the helm paying himself from their investment with the potential of no return on it whatsoever. Now’s the time to have faith in the good Dr, he’s sure to want make his dreams a reality for the good of mankind.
Privateryan: any update or info on what is happening/has happened would be useful, it is our money we are talking about. What has happened in general, financial position specifically, IP safeguarded and intact etc etc.
I suppose the only good news is our investment can't actually go down as shares suspended no matter what info they release!!
However, I also suppose it might confirm what many think......the ship is sinking fast or already sunk!!! Perhaps, maybe, there is a life raft within reach!!! Until they release news, proper statement of facts and the company's position, unequivocal, we won't know and everything is pure speculation.
He gets thing done with a cost !!
Castle
Prime-very simplistic eg going concern status?
Company is rotten to the core
No doubt duffin has been caught with his fingers in the till, hence the reason he wanted to shut up shop before the books were due!!!
No. Read the RNS. It states they are not in a position to release the results by 30th September, which itself is an extension as the results were due by 30th June.
Prime my thoughts exactly!