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Google translated:
The 2023 Guizhou Provincial Ecological Environment Emergency Monitoring and New Pollutant Detection Technology Exchange Conference is jointly organized by the Guizhou Provincial Environmental Science Society and the Guizhou Provincial Environmental Science Research and Design Institute with the support of the Guizhou Provincial Department of Ecology and Environment and the Guizhou Provincial Science and Technology Association. The meeting will focus on cutting-edge detection technologies for new pollutants and comprehensive solutions for emergency pollution incidents , with keynote reports and keynote speeches, as well as demonstrations of new technologies and instruments.
Modern Water will also present its latest products and solutions at this conference. We sincerely invite you to visit and negotiate!
Shangshan Hall, 3rd Floor, Shangshan Hotel
June 7-9, 2023 | Guiyang | Shangshan Hotel, Guanshanhu District
http://www.modernwater-china.com/News-1480005.html
Would be helpful if they'd post a copy of their presentation even in Chinese... (Image used for article a reused image?).
A number of STC and labskin employees have open to work on their LinkedIn profiles.
GB didn’t just ruin our investment but employees livelihood.
Just one tiny but million pound error in your statement :) .... from the RNS 17th of April revenue "revision" .... "under the relevant accounting standard IFRS15 are expected to be approximately 45-50% of the £17.2m revenue figure provided by the previous executive management team".... which would suggest real revenue for 2022 was £8.5m or thereabouts.
You state they overestimated revenue by 50% which is a very different statement from the RNS as you can see! They in fact overstated revenue by 100% (50% of the real £8.5m would be £4.25 which is a total of £12.75, whereas 100% of the real £8.5m is £17m, lets ignore the £0.2m as that does not exist either right ) which is pretty staggering!! It would actually seem difficult to get something 100% incorrect but it has been achieved here. Everything else in your statement is correct, excuse me for picking at little details! Classic AIM we agree!
I am of a similar belief to yourself Glenogle, desalination plants indeed are extremely interesting from a future need perspective. However we somehow ended up with city sweepers, so from a Modern Water point of view I am afraid to say the expectations of the investment have changed dramatically and now the only good here to warn others of not only Deepverge but also the myth of Modern Water. Shame really but lessons learned the hard way. The only piece of your farmer analogy I agree with is plenty of milking of us investors for sure ;)
So, this company has overstretched with the Labskin sideline + over estimated (or lied) about profits by about 50% + destroyed their stockprice, CEO respect and company worth...... but still have a world beating produce and have contracts coming in?
Oh man. Its not easy to make a call on this.
This is classic AIM lol
I'm a bit more cynical of his behavior MGD, nothing fantasy about it.
Measured and coordinated with others, including family members, to maximise the short term personal situation at the expense of others.
In his intro to the book he misses skill of lying, misleading and devious behaviors.
Yankee, I "believed" there was potential in modern water back when I made my first purchase of mw. I was convinced that desalination plants were the future and mw would be part of that.
More lately I thought that some of their live water testing would be very popular too, but alas no. Despite the hype I now feel that most of the products dv sell are like farming. The farmer does lots of good work to bring everything together, from calving his cows, feeding them and looking after them etc, but he still only gets pennies for his milk.
Thank God…I got out last week with a small loss..
GL
Yes - I pointed it out on 26 May but thanks for giving the link.
It really is beyond belief. GB is clearly living in his own fantasy world. It really is tragic - at least for shareholders.
Https://www.scribd.com/book/485934423/Real-Business-Secrets-Bootstrapping-a-Multi-National-Business-Empire-Leaders-Are-Made-Not-Born
I’m sure this has been posted before but I’ve only just come across. Mind you, not sure isn’t a spoof. Oh well if not, I’m going to put my order in. I’m all agog to find out what this master(grifter)mind has to say.
Another interesting trade.
05-Jun-23 11:12:33 0.4011 5,264,455 Sell* 21.12k
Who pays £23k to sell at £21k an hour later? And more importantly, why would they do that?
Can you explain the potential in Modern Water? I can only see that was downsized also? Delaware facility still open or not?
It is an interesting point on the Auditors if they were paid or not, considering the cash position seemingly is horrifying. Also it must have been awkward between both parties considering the current DVRG Group Financial Controller Shiv Rawal worked as the assistant manager of Jeffreys Henry LLP Group FCO before switching over to Deepverge as a direct employee, awkward at best! Shiv Rawal probably did a few DVRG audits in his time so maybe he can help out with the new Auditors also, therefore avoiding that July timeline constraint!!
Brave to remain in DVRG at this point considering Modern Water staff and Delaware base is gone, Labskin and Rinocloud now gone in July, what is actually left for investors, Glanaco? Other than stay well away it seems?
Shocking update, but i think it was expected.
Pretty clear that STC, Labskin and Rhinocloud are nowhere near profitable despite all the hype. STC seems to be overly hyped based on free samples and there is not much behind it. Labskin has been used for a number of years by a number of big beauty companies so surely there must be some value there?
If the auditors left just before starting the audit i strongly suspect they did so as they hadn't been paid for the previous year.
Can DVRG survive? Who knows
Glad I decided to top up before somebody made the following trade:
05-Jun-23 10:04:40 0.45 5,264,455 Buy* 23.69k
GLA - We are going to need it!
Misspenny
I'm sick of averaging down. Despite doing this several times my holding albeit not huge is 93% down. Might be time to consign it to the ex girlfriend pile and think what could have even.
At least I've learnt and will avoid anything associated with gb in the future. I never believed his bs, but did believe there was a place and market for modern waters technologies/services.
While GB was ramping DVRG here and on Twitter he and MrsGB were busy making share sales (and not reporting the sales in a timely manner). Perhaps they could give the money back?
Perhaps it’s time to sell to the cartel. I’m sure they’d love some in-house purification sensors.
Tg - I expect that STC in particular was not much more than a figment of GB’s over active imagination. Seems like they cannot even give it away but instead have to close it down and invite all redundancy and other costs.
It is becoming increasingly clear that GB was not much more than, at best, a snake oil salesmen, but entirely possibly worse. He should be in jail but how likely is that when most of the current Board were involved previously.
worst **** sandwich ever. nearly entirely made of ****. things are clearly dire here.
I am surprised they are still exploring the sale of one of the businesses.
There's got to be some interest in the "unicorn" STC or "unprecedented demand" labskin.
Going to be a long road to a recovery here but at least some tough action is being taken to get us there.
They managed to slip in the Letters 'A & I' before yet more bad news.
Grifters!
New contract win but the co still having to work hard to overcome the consequences of the mismanagement (to the point of swindling) by GB.
Had a significant holding here, not worth much now! But Modern Water does seem to have genuinely huge potential, so will 'average down' and see what happens.
GLAH
UK-China ICP Green Transition Forum
UK time:
01/06/2023 05:30 - 01/06/2023 10:30
15.55 - 16.15: Theme 4 – More enablers and collaboration initiatives
Smart water monitoring empowers advanced manufacturing sustainability: Li Jie, Sales Manager, Modern Water
https://www.cbbc.org/events/uk-china-icp-green-transition-forum
So how did that go?..