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Current DVRG MCAP = value of debt owed to MSYS.
Combined MCAP of DVRG and MSYS now less than £3m.
? so what have you done about that, lochsong?
Shareholders were most definetly defrauded.........getting re-course in court or proseccuting b. oard members criminally very difficult................
The one area where the board acted fradulently was prior to 2021 placing of shares @ 30 in March 2023......An RNS claimed to have signed a memorandum of understanding with the chinese corporation this was a falsehood . There was never any agreement or memorandum of understanding and the fact the board clained in a RNS there was . was criminal.
LPorter , unfortunately CHLL and ARB are not DVRG and MSYS as they both don't share the same board (Gerard Brandon and Nigel Burton, I think we can all assure you here if those 2 were on the board of CHLL and ARB it would be 99% down and not 600% up) and the same decline and are both not drifting into a de-listing situation, which by way of no update on the progress of the auditor, we can only assume that by end of the month the stock does de-list and administration beckons.
I think most reasonably sane people here will assure you a de-listing is far more probable by June 30th than a 600% rise in the stock! Pains me to say it but lets just wait a few weeks to see if the 600% rise materializes or the full collapse. The latter seems very likely now with little or no update from the board via RNS and no audited accounts complete, and staff being let go and divisions closing down etc etc...
One question that does remain is Nigel Burton MSYS allowed to buy Nigel Burton DVRG in order to become one whole Nigel Burton once again or has he sub-divided himself so much that well, becoming whole again is not scientifically possible.
Stoater, if you think you have some reason to believe there was wrongdoing by someone associated with DVRG then contact FCA and outline your concern. some posters on other sites, notably copperwindow93 from advfn, said they were doing just that ( - in c/w’s case, he claimed he was forwarding on to the FCA a cache of personal messages which he had exchanged with the DVRG CEO over time, to support his assertions.)
i’m not a DVRG holder, and i simply don’t known the ins and outs of the history here, but if you have a serious concern then contact the FCA. they don’t charge you anything to report.
The stocks I’ve made best
Profit on in the last 12 months are CHLL and ARB
Both absolutely finished “apparently”
CHLL ARB both did 600% in a month
LP, you think there’s a return here? I’ll have some of whatever you’re on… risk is one thing but GB is guilty of bare faced lies as ceo to the stock market…. We are not talking risk and reward we are talking financial crime
Great risk makes even greater return
What has happened here feels quite literally like criminal negligence and we are powerless to do anything about it….something is very badly wrong with the AIM system for this to be able to happen with no consequences for the people who perpetrate these situations on a regular basis!
I would not recommend averaging down here now. There is so much the BOD need to do to prove they have SH interest at heart.
I was exactly the same in CHLL but I averaged down at 2.5p and actually sold for profit at 9.5p
At one stage I was 80% down
My 60k is worth next to nothing.
Turned £5k into £43.10. Just deciding whether to sell, decisions decisions :(
I fear the worst. The market is clearly signalling that the end is nigh. Also, a number of the staff seem to be looking for new jobs - and based on past indicators they know better than anyone.
I really do not understand how GB is getting away with this. It is abundantly clear that the last couple of rounds of fund raising were based on GB's fairy tales. There must be some very unhappy shareholders?
Rat,
Have you picked up the phone and called Inteprod? Sent them an email?
I spoke to Nigel and he said the following;
Audit is ongoing but suspension most likely to happen end of the month.
Working capital sounded like a big issue.
There is interest in STC & Labskin but didn't say how far along the talks are.
IMO, overall it sounded like it will take a miracle to keep afloat.
Radio silence from BoD… anything on here is unfounded speculation. My gut says it’s fubar and a very expensive write off
Is this gone or have hopes of recovery?
? is DVRG really fighting for its life?
… not much evidence of any meaningful footwork, work rate, or punches being thrown, let alone landed. …just looks like the towel has been thrown in but ref hasn’t noticed yet.
still, on the plus side, PB78 wiped out by this, karma.
Google translate:
Modern Water's ecological environment emergency monitoring and new pollutant detection technology exchange meeting in Guizhou Province
the Moden Water booth attracted a large number of participants to stop and ask about the product , technology and practical application issues, we also use the on-site prototype to answer and demonstrate related issues, so that everyone can have a more intuitive understanding of Modern Water's advanced heavy metal and biological toxicity emergency detection solutions.
http://www.modernwater-china.com/News-1482109.html
Money may be tight, but isn't it time somebody took a flight to China?
RNS June 5th states "If the Company is unable to publish its Annual Report and Accounts by 30 June 2023 in accordance with AIM Rule 19, then the trading in the Company's ordinary shares on AIM would be suspended from 7.30am on Monday 3 July 2023 until such Annual Report is published. Any such delay would be likely to be limited to a matter of weeks." Seems an interesting scenario to warn us all about ahead of time...
Now I would assume from the same RNS that auditors "Haysmacintyre LLP" are paid up and working on the audited accounts as we speak and DVRG board are not just letting DVRG de-list without having auditors actively work on the accounts. If the new auditors have NOT been paid and are NOT working on the audit right now, well this warning quoted above seems a bit like using AIM Rule 19 against the share holders of DVRG, because if DVRG does de-list and does go into administration well it creates a buying opportunity for Nigel Burton CEO of DVRG to buy up DVRG (after all he is a board member with Gerard Brandon on MSYS) cheaper than he would otherwise need to pay for it. Seems an interesting scenario to be concerned about....
I'll assume you are ignorant of the document that was previously available at:
https://www.swig.org.uk/wp-content/uploads/2021/10/Matthew-Wade-2022.pdf
I'll leave it as an exercise for you to track down a copy. Or remain ignorant. Whatever...
The company focus on Modern Water and away from the distraction of STC is something to be welcomed by those invested... (A clear positive resulting from the removal of GB as CEO).
New board you say? Nigel Burton is the CEO of DVRG and is on the board of MSYS. Gerard Brandon was the CEO of DVRG and now oddly seems to be the CEO of MSYS. Has Camillus Glover resigned, Andrew Waters seems to be missing in action was he not the guy supposed to steady the titanic? Has the rest of the board changed? Maybe I missed that RNS and the board has changed, but it looks very very much unchanged from the websites.
This link you provided has little or nothing to do with Modern Water.
The only question one needs to ask about Modern Water is will it survive if the auditors to not complete their audit by June 30th, is administration inevitable and is the board of DVRG and MSYS infecting it and other divisions as they are one in the same it seems.
NU from RNS . "Further to commentary in the Company's 17 April 2023 notification, at present the working capital position of DeepVerge is such that the sum total of its trade receivables (net of impairments) and cash balances together exceed the sum total of its trade creditors and other payable balances (with the amounts owing to Microsaic set out above included in this). In addition, the Company has agreed payment plans, or payment phasings, with substantially all its creditors."
Cash is the issue, or lack of, they maybe down but not out yet, it is all down to getting audit done and reducing cost base. Revenues are there to be had but lack of working capital hampering progress.