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Significant contract win
Glanaco, a subsidiary of DeepVerge acquired in March 2022, has secured a €10m (circa £9.3m) order from an existing customer in Central Asia for the design, assembly and supply of multi-function mobile equipment for use by municipalities for applications including cleaning, decontaminating, de-icing, and salting streets and public areas, with relevant data generated by the bespoke software designed by the Company's subsidiary Rinocloud.
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.
AC - thank you for this. Your comments seem very credible. There appear to have been a number of employee or ex-employee posts on this BB over the last 12 months or so. Most of them have been much more accurate and relevant than the idiot ravings of Ratty, Chesh and other paid rampers.
It certainly looks as if GB is up to his old tricks from Alltracel, with PIs getting sh3fted yet again. If only he had stayed as a plumber we would all be better off.
Sounds like there are insiders coming out with additional knowledge here. My only hope is they’re giving details to the FCA and AIM REGULATION today. Today. Before yet more dross happens.
aimregulation (at) londonstockexchange (dot com), and market.abuse (at) fca (dot org dot uk).
Inside details from those in the know will have much more effect than others of us speculating. Please take 10 mins to push this.
anonymouscoward thank you for your clarity. you forgot a few things on this specific "deal"of giving away glanaco for 1 euro.... i will disclose...
t. rat says "don't think anybody is going to be surprised with that update..." however he does not add context unfortunately, so i will. back in march 2022 fionan murray and gerard brandon acquired glanaco https://www.lse.co.uk/rns/dvrg/acquisition-loan-facility-for-global-expansion-eue35leih3kltrs.html for £1.08 million comprising £0.65 million in equity and £0.43 million in cash and you have to remember that tony ryan the md of glanaco ltd is fionan murray's relation. yes they are related and yes fionan murray is still a director of rinocloud. now just over a year later they sell it back to fionan murray relation for 1euro, now i amsure those un-audited accounts are all clean as a whistle but it would be great for someone to take a deep look at them now that the new cfo andrew waters has run away.
so when t. rat says "don't think anybody is going to be surprised with that update..." he is right now, nobody is surprised!!!
also when we speak of family ,and family is important do not get me wrong here, the only people promoting modern water right now is t. rat when he quotes gerard brandon fake news tweets repeatedly and also on social media louise doyle, who you see peddling furiously to keep up with fionan murray and gerard brandon false claims of business as usual and everything going great..... louise doyle is gerard brandon daughter, so the next time you see a social media "claim", a large pinch of salt is required, with that ****tail!
oh and she also posts for microsaic social media. so maybe for the past 6 months we can also just delete all of that from our investment thesis. disgrace is a very large understatement unfortunately.
Wow it really is a disgrace, I assume the Financial Conduct Authority is involved at this point? Should their not be an RNS about this if they are? For the past year T Rat and other rampers were on here along with RNS's telling us the Glanaco operation was going well and generating revenue and it turns out it was loss making and a shambles also.
Now we find out that Fiona Joyce is off working for Gerard Brandon and Nigel Burton under a different guise or orchestrate more extraction from DVRG. Enough is enough.
MW going to MSYS in lieu of the debt will be next.
GB, after becoming CEO at MSYS, on multiple occasions told staff at York that he had no interest in labskin or STC and his plan was to integrate MSYS and MW then sell off labskin and STC. I would not be surprised to find the last twelve to eighteen months have been a deliberate act to engineer that outcome as cheaply as possible. Also Fiona Joyce resigned as DVRG company secretary and where is she employed now? Microsaic, along with John Clarke, the life long friend of Camilus Glover that was brought in to 'manage' the York site and proceeded to destroy two years of hard work by the management team who had just about got things on an even keel. His behaviour also resulted in the company having to pay off a senior staff member to avoid a law suit for bullying, harrasment, sexism, unfair dismissal..
But don't you get that warm glowy feeling knowing you have helped some EU workers in Eire to keep their jobs. Like most shares in AIM there is a good chance you loose the lot.
Alternative Investment Market and Deepverge for those with deep pockets.
Looking forward to my share of the sale proceeds.
What a disgrace!
A bunch of C**ts.
Used shareholder money to grow Glanaco and now return it back to original owners. No doubt the dodgy BOD are benefiting from this transaction.
The RNS mentions 2022 results but forgets to mention the large wins in 2023.
Travesty.
The Company announces the sale of Glanaco Limited, the engineering services company based in Cork, Ireland, to Tony Ryan and Michael Fitzgerald, the current management and previous owners, for consideration of €1.
https://www.londonstockexchange.com/news-article/DVRG/disposal-update/16071917
Don't think anybody is going to be surprised with that update...
I'm interested T.rat, because something unusual has been going in here and people have lost money due to misdirection, so I wonder what your purpose is? I'm not drdoolittle BTW. There are plenty of others still trying to figure out what has been going on and who should be taken to account. You are right on one thing. These anonymous boards are a potential sesspit of misinformation, a short sellers, bs paradise. However, we were also led my misforecasts and information very difficult to verify. The only thing we should have listened to is the old adage. 'If it looks to good to be true, it probably is'.
For my own amusement, and to bring jez01's thread back on topic - Interprod... who would have thought?:
Gurtel
Posted in: DVRG
Posts: 4
Price: 0.25
No Opinion
RE: Not the final curtain15 Jun 2023 10:19
T.Rat, Do you think there is any type of relationship between Modern Water and Interprod? Where did you get that information from? Or are you just dropping that bulls*** for the few gullible people left here
Sure you were drdoolittle45! Pathetic...
Check1, why are you bothering reading this board if you don't what to see DVRG content that is in the public domain? Situation will resolve soon enough (and until we see how it resolves we can't even begin to speculate to 'what went wrong'). Nothing posted here is going to have any impact on the fate of investors. Are you anticipating the suspension being lifted? And subsequently believe anything posted here would make any material difference to how anybody would act in the event of the suspension being lifted? Seems fanciful. Anyway if you don't want to see what I post you can filter... problem solved. Although while you are placing blame on this board for your investment decisions I'd suggest that is rather misplaced. Company news, both that issued by RNS and other presentations, not aligning with reality is what has seen investors caught out. If this has been result of simple incompetence or something else should become clearer as situation resolves. But what is already clear is they can't blame the difficulties in developing PD - sorted to the point of production... (otherwise a five letter word would be appropriate):
https://m.youtube.com/watch?v=i7Jx5-k0chI&t=951s
https://twitter.com/gjbrandon/status/1492438614386655235?
Posting on Modern Water China page as recently as 3 Aug (it's alive?). Hard to argue with point five...
T.rat. just out of interest, why are you still posting news vaguely related to dvrg as if there is still hope? A lot of people have been caught out by the ramping on this board, myself included, which isn't very funny considering what has gone on with the company. You like research, I suggest you research what went wrong. That would be interesting.
What an absolute disgrace this board of management was and still is.
I cannot believe I got found out on my investment here. One to write off and try and move on from.
the irony ,t. rat, the irony
1. stock suspended.
2. all staff let go with unpaid wages, no redundancies, no holiday pay.
3. false 2022 accounts by 100% and full of bs about pipelines
4. stock down 99.something%
5. worst glassdoor reviews anyone has seen.
6. every single private investor including you burnt alive
7. bs rns after rns.
8. and by calling you gerry you think i'm referring to a former ceo somehow (dot connecting going a little far don't you think), i just thought tom and gerry, the spunky mouse, the little rat character in that show, t. rat / mouse, paranoid much jumping to defamation, maybe you are too young to remember that show tom and gerry ;)
and t. rat (wee little gerry from tom and gerry i like to say, maybe others in this forum refer to you affectionately by gerry to from tom & gerry who knows) is posting "good news" or saying things like "fantastic! perhaps amongst the greatest of the sins of the former ceo was a failure to be ruthless enough" (read up, maybe the first 7 points here are his sins and not some stupid business term like being ruthless) in an internet forum calling this mere mortal an idiot!
you post bs, we fact check your bs, do not underestimate here, you would not know the meaning of the word ruthless and nor would gerry, but that lesson is coming. all the paddies are off now on the **** for their long weekend no doubt, enjoy!
Hey drdoolittle45, what an absolute idiot you are if you think I'm Gerry. This site will be perfectly capable of confirming that is not the case should he choose to pursue legal action for your defamation.
1. The company is able to move to a model that does away with what was at Delaware? Fantastic! Perhaps amongst the greatest of the sins of the former CEO was a failure to be ruthless enough...
2. Slow handclap... The bulk of the Glanaco order is to be realised in 2023. But then you do know that? Right?
T. Rat (Gerry) allow me to fact check your BS.
Andrew Montone was the operations manager over at Modern Water before leaving Modern Water and Deepverge in February/March of 2023. Now there is nobody left in Modern Water, they all got the door, its a hollow vessel of BS and Glanaco is a street cleaning company and does not know the first thing about Modern Water and probably wished they never heard the name Modern Water.
Glanaco Ltd or Glanaco Services Ltd, whichever one DRVG did buy is doing nothing, the other Glanaco is operating as a street cleaning company and this BS you post here:
"Glanaco, a subsidiary of DeepVerge acquired in March 2022, has secured a €10m (circa £9.3m) order from an existing customer in Central Asia for the design, assembly and supply of multi-function mobile equipment for use by municipalities for applications including cleaning, decontaminating, de-icing, and salting streets and public areas, with relevant data generated by the bespoke software designed by the Company's subsidiary Rinocloud. https://www.lse.co.uk/rns/DVRG/significant-contract-win-and-board-change-erqqaljf5n0i47z.html"
This has nothing to do with Modern Water and Andrew Montone firstly. And secondly this exact paragraph you post is from the made up revenue overstated in 2022 by Shiv Rawal the accountant working the numbers at DVRG and its group of now empty companies. This has already been proven otherwise in an RNS here: https://www.lse.co.uk/rns/DVRG/2022-revenue-update-revision-we4hkfrrzhioxh3.html DVRG didnt even do 8 million in total in 2022 never mind Glanaco doing 10m March of 2022 and yes I am not factoring that this is future earnings because every single thing out of your mouth is BS and everything in the RNS is BS.
Also there is no bespoke software that Rinocloud designed, again pure BS which tanked the share price. Uzbekistan, Turkmenistan, Afghanistan or Chernobyl do not need this BS or you posting it again and again. The dates by the way will matter in court, they will matter significantly! That was the only factual piece of your post that was needed and you even f*&ked that up and decided to ignore them so suit your PR.
It’s all deeply odd. I hope someone with the necessary clout and interest sets up a ‘class action’ or whatever to seek some redress for shareholders.
Worth noting below re:Interprod:
https://www.linkedin.com/in/andrew-m-4719aa98?trk=public_profile_browsemap
Make of dates what you will...
This Glanaco:
Glanaco, a subsidiary of DeepVerge acquired in March 2022, has secured a €10m (circa £9.3m) order from an existing customer in Central Asia for the design, assembly and supply of multi-function mobile equipment for use by municipalities for applications including cleaning, decontaminating, de-icing, and salting streets and public areas, with relevant data generated by the bespoke software designed by the Company's subsidiary Rinocloud.
https://www.lse.co.uk/rns/DVRG/significant-contract-win-and-board-change-erqqaljf5n0i47z.html
If modern Water has the value left why are they not paying their staff???
Which Glanaco in Cork is this? Glanaco Ltd? Or Glanaco Services Ltd? They are both owned by the same Team and Tony Ryan is the Managing Director of both https://www.glanaco.com/about/ however DVRG only bought Glanaco Ltd. Interesting.
Amazing Modern Water is doing all these deals with all their staff gone!
Modern Water is pleased to announce it has appointed Inteprod LLC as an authorized service representative for its Microtox LX and Microtox FX acute toxicity analyzers. Inteprod is a contract manufacturing specialist for medical and life sciences technologies in Eagleville, PA, USA. Inteprod was instrumental in the design of both instruments and has deep knowledge of their design and performance.
Address: 2583 Industry Ln, Eagleville, PA 19403, United States
Modern Water post last month:
We are excited to announce that our new US warehouse is now open at 2583 Industry Ln, Eagleville, PA 19403! This new location will allow us to serve our customers in the US, Canada, and Mexico better and provide faster shipping times.
Glanaco in Cork, Interprod in Eagleville, PA - Modern Water is the only value left in Deepverge. We are watching.....
Surely the nomad will walk next and the delist kicks in automatically