Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Hold on what do you mean by IP?
It means intellectual property right?
https://www.sellingmybusiness.co.uk/articles/selling/a-guide-to-intellectual-property-when-selling-a-business
Surely this was part of the 'assets' of the company, if not it's called fraud in my books no? Could someone with some legal background call the administrators and find out? as this really sounds dodgy to me. JD should be sued by the shareholders if he is shielding the IP.
Does anyone know if it is legal to shield the IP from the assets or if it amounts to fraud? If not shall we not all report James Draper and Lisa Hau?
https://www.fca.org.uk/markets/market-abuse/how-report-suspected-market-abuse-individual
A quick google reveals there are 433,410 Global Advertising Agency businesses as of 2024 , an increase of 2.6% from 2023. There are also 2,808 Video Games Software Development businesses in the US alone as of 2023 apparently. And only 200 potential buyers have been approached ? And this has all been concluded in just over a month ? Come off it, I smell a rat and he is not called Roland. I am nobody in the grand scheme of things but I think a shareholder or shareholders with some clout ought to be asking some hard questions and conducting their own independent audit of this "administration" process. Years of work, tens of millions spent and the end result isn't worth much to anybody , anywhere ? I find that hard to believe.
I don't think fca reporting is the way - I think you need to get into the ear of the administrators to remind them they are obligated to distribute the full value of the assets (which included the IP) to shareholders. That IP is definitely worth something to others & even if they're getting bargain-basement prices for it, it is still the main source of bid's value.
That's also assuming the administrators don't find a way to keep parts of the business afloat.
Is there anyone on here who feels confident enough to speak to the administrators on behalf of the shareholders? I don't believe a word of what comes out of James Draper's mouth anymore. Surely Iderto will be asking some questions too I assume? What was the name of this shareholder who wanted to sue the board at some point? Where is he now? It feels to me that it would be a bit too easy to say that since no buyer has been found, Bidstack enters liquidation, so that JD and his mates can start all over again with a clean slate with their SRT or whatever his new company is called after having frankly wasted all of our money? Surely as many have said below the value of the IP should be used to compensate shareholders?
The good news is it's actually out of JD's hands now - if the administrators do their job correctly they will seek to recover as much of the value as possible / keep any parts that individually are profitable working. Are you in the new telegram group? probably the best way of keeping tabs on the core shareholder base / sharing thoughts. This lse board has been a wall of abuse both ways for years - not the most helpful.
As a measure of how much effort was put into the attempted sales process is a list of the "upwards of" 200 companies approached to be published to shareholders please Alvarez & Marsal ?
Helx2 - Thankyou for the heads up on the Telegram group. I am not on that platform so don't have access to it (and don't really wish to start now) but happy for my comments on here to be shared if you wish to. I do think they are valid comments.
“this lse board has been a wall of abuse”
says the fella who just called me a ****wit.
hahahahahahahaha. helx 2 you’ve been one of the worst with your pal bottomz (he has had a number of shockers - actually hope he is ok not heard from him for ages)
bragged you made a killing on he1 and pumped it all in here.
feel sorry for you, not!!!hahaha