Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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The only way we can have any transparency is have the accounts published
The BOD wont want this as will leave them open to fraud for providing false information for us shareholders worse scenario is Deepverge gets carved up and sold for peanuts by this board it is preferable to me that this BOD and ex CEO should not be allowed profit from this sorry story.
It would be preferable for external auditors or liquidators to take over......it dosent wash that they havent had time to produce the accounts........will there be an EGM/AGM
For me i would settle for full dis-closure and seeing a copy of the accounts would be a start
Game over completely.
Let's hope noone held into suspension in the hope it would be resolved
It appears that the Chinese know enough about the IP to do away with any staff. It would appear that the DVRG BoD couldn't let a little thing livelihoods get in the way of their ambitions! Lovely people!!!
Lies lies and lies! What a con. GB and BoD I hope you all can’t sleep at night with what you had done you lying sacks of xxxx
If you don’t want him to get away with it… please email
aimregulation@londonstockexchange.com
And
market.abuse@fca.org.uk
I’m have!
All fraudsters deserve slow, horrible, painful health issues, and there’s 2 more scumbags candidates just about to join the list.
Glanaco was profitable? And now winning business like never before? So let's shut that:
In the year ended 31 December 2020, the most recent year for which accounts have been filed, Glanaco Limited posted profits before tax of £214,731 on turnover of £1.101 million. At 31 December 2020 it had net assets of £339,978. Its unaudited accounts for the year ended 31 December 2021 show profits before tax of £218,315 on turnover of £1.362 million, and net assets at the year end of £524,255.
https://www.londonstockexchange.com/news-article/DVRG/acquisition-loan-facility-for-global-expansion/15371711
The order comprises a design licensed to the customer, the initial c£3.2m revenues for which were included in the £17.2m (unaudited) total for 2022 announced on 9 January 2023, and production of 100 units which are contracted to be delivered in 2023, starting in March 2023, with revenues of c£6.1m. The order for 100 units will be managed by Glanaco's plant in Cork, Ireland where all assembly and testing will be undertaken.
https://www.londonstockexchange.com/news-article/DVRG/significant-contract-win-and-board-change/15826308
So what are current value of assets?
Link below just further confirmation that PD is not patentable (note date):
06.07.2023
International Preliminary Report on Patentability Chapter I
https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2022136585&_cid=P20-L868HR-33853-1
T-Rat FFS do you think shareholders wil get anything? Any monies recovered will go to debtors, redundancies institutions and then retail. GB either grossly incompetent or a fraudster. Interesting to know what his holding was before he left the business, it wouldn’t surprise me if he was selling on the way down without issuing RNSs.
LovableLumax, my post is not about what investors here might get. How you arrived at that conclusion I do not know. The post is what others may get. Wasn't that clear? Presumably a 'Glanaco' will continue...
Okay fair enough.
Your research good but gave me the impression you still thought DVRG could survive. I hope you at least sold some and clawed some money back.
This was from September last year. "The Company continues to expand across all divisions with record H1 half-year sales and expectations of £18m for the full year. Demand for Modern Water monitoring and membrane solutions grew, not least because of the impact of climate change and a severe global drought. Order values have moved from £50k to £100k equipment sales in 2020 to now include multiple £1m+ solutions in Middle East, North Africa, China and South Asia and the recent £2.4m project on the Savannah River in Georgia, USA. The Company has a substantial order book of £8.87m for H2 supply and expects to continue its year-on-year history of revenues weighted in H2 over H1 since 2018".
Shocking...........................
it is shocking snd what’s more it was obvious they were on **** when gb didn’t do his usual proactive interview which he loved and did at fy and interim. when no video forthcoming alarm bells rang for some. it’d be interesting to know if he has selling without issuing rnss
Truly appalling that the plumber/fraudster and city mates are getting away with another one. Yet again PIs are the ones getting sh@fted. Clearly the rhetoric from GB and the rest of the BoD was a million miles away from what was actually going on with the company- overstating revenues by a 100% is a decent example, but far from an isolated one.
Also appalling that the rampers (I suspect paid) who were on here for years are not showing themselves to aplogise. I wonder how many people have lost their life savings as a result. Time for the financially illiterate Chesh and his merry band to apologise. They should also apologise to staff membedrs who clearly knoew exactly what was going on at the company but were bullied into silence.
Agreed. The way this is going suggests the possibility of fraudulent misrepresentation, which the directors could be personally liable for in court. If that’s not an incentive to remedy this situation for shareholders somehow I don’t know what is, but options look slim to none now. Enough of us have lost massive amounts of money down this drain that I suspect multiple parties would be prepared to take it to trial. All alleged at this stage yada yada.
Shocking….I feel like I have been scammed by GB and the rest of the board and there isn’t anything that is going to bring some sort of justice to the perpetrators.
My worst ever loss by a long shot….more than £72k
I pray for some action from the FCA…or even the police if we can prove a crime!
I’ve lost almost 40k here as well. Hope there is something that can be done to bring those scammers to justice.
Just to note:
Busy morning at Glanaco with a full load of GS Range Sweepers out for delivery to the UK.
#sweepers #roadcleaning #roadsweeper #attachment
https://m.facebook.com/photo.php/?fbid=764404332356970
Does anyone know, What the scope of the redundancy is please? Lab skin skin trust but not modern water glanaco?
Yes - it is everyone. This is from the RNS
'To avoid incurring additional costs, the Board has today decided to issue redundancy notices to all remaining staff to take effect on 31 July 2023.'
It is not just PIs who have lost everything - the staff are in a worse position. GB and the BoD have a lot to answer for.
It is so strange T.Rat , so many red flags, social media accounts posting images of business doing great at Glanaco for example https://m.facebook.com/photo.php/?fbid=764404332356970 , and then RNS messages stating all staff are being made redundant. Just really very bizarre, next month if we see another Glanaco press release of business doing great we know it must be a marketing company just sending out tweets and pics on an automated system because of course there should be no staff working there. PR machine alive and well, shame the PLC is not or will we get those accounts that they were working so hard on all these months ago!
Guizhou Province GB/T5750-2023 Standard Test Method for Drinking Water Publicity Conference
Guizhou Provincial GB/T5750-2023 Drinking Water Standard Inspection Method Publicity Conference was successfully held in Guiyang on July 21. Modern Water presented the latest products and solutions at the conference
http://www.modernwater-china.com/News-1489977.html
##
##
July 28-30:
Modern Water sincerely invites you to visit booth T76 of the 4th Hunan International Green Development Expo
Modern Water will participate in the exhibition with the assistance of the British Department of Business and Trade (DBT) and the Hunan Provincial Council for the Promotion of International Trade. It will bring the latest products and applications to this exhibition. We sincerely invite you to visit booth T76 .
http://www.modernwater-china.com/News-1489595.html
###
###
Since I'm posting anyway..., who took the decision that below link (re:MBO and mention of a Fin Murray) should no longer be active? And why? Perhaps that could be discovered...:
https://m.facebook.com/GlanacoCSS/posts/2160699184025164
Purchase Orders valued over €20,000 for Clare County Council for Quarter 2 2023
GLANACO LTD €162,104.36
https://www.clarecoco.ie/services/business/procurement/pos-over-20k/2023/purchase-orders-over-20-000-in-the-2nd-quarter-of-2023-52210.pdf
Very interesting. I think it’s entirely possible that the redundancies of “all remaining staff” referred to in the last RNS were just Deepverge Plc staff and that the subsidiaries are still functioning. Modern Water social media activity carrying on as if it’s business as usual. All as clear as mud.
T. Rat interesting you focusing on Glanaco with their contracts and also pics like this one from Facebook https://m.facebook.com/photo.php/?fbid=764404332356970 and also Yankee_d1000 is right to start questioning this obvious B**llsh&T PR. DVRG is not paying staff for July, and not paying pensions for June or redundancies. This is not clear as mud, its very very clear. All staff have all but left, this is a hollow dead company and no entity of any type should touch it.
Go to https://www.solocheck.ie/ and then do a simple search for the company Glanaco and you will find 2 companies, surprise surprise! Glanaco Ltd and Glanaco Services Ltd and do you think DVRG bought both or one of these? One.
https://newsnreleases.com/2022/03/17/deepverge-plc-acquires-engineering-services-company-glanaco-limited/
Now just start really thinking about your BS management buyout facebook post "links" of Fionan Murray of Modern Water or Labskin or Glanaco and ask yourself who is the director of Glanaco Ltd and what is Glanaco Services LTD and then start listening to the staff and their nepotism and family connections posts. We all know who is right here and any new investor should be well aware and the fact you are still here posting is pathetic T Rat.
Stop posting B&^llsh&t PR pics from social media when you know where these are really coming from! Staff will reveal as much as is necessary here to expose DVRG and MSYS and its management of Nigel Brandon, Gerard Murray and Fionan Burton. Stay safe everyone and far away from MSYS and DVRG.
Also:
FOI report on Public Contracts greater than €25,000 awarded by Clare Co Council for Q1, 2023
Date Award was
Published
15/03/23
Type of Contract
Awarded
Supplies
Short description
Sub-Compact Diesel Motorised Road Sweepers, GVM 3,500kg
Estimated/actual Value of
Contract
Awarded (ex Vat
unless stated)
€120,000.00
Tenderer Name
Glanaco
Tenderer Address
IDA Industrial Estate, Kilmallock Road, Co. Cork, P56 T275
https://www.clarecoco.ie/services/business/procurement/public-contracts-over-25k/2023/contracts-over-25-000-1st-quarter-of-2023-51728.pdf