Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
You don't need to be in the City Bluerill to see that this IPO has been a complete train crash but yes, sources I have spoken don't see this succeeding. Bluerill, you may mock me but I know more about this business than you. Unless of course you are working for CG.
'people you've spoken to in the City.....'?!? Seriously? Are they different from the people you speak to in your head??
You're welcome Bluerill. Sources I have spoken to in the City have said that this IPO has been a compete train crash. Amazed people on here are blind to it. You will all be throwing your toys out the pram in a couple of months when nothing has changed, that massive and expensive Board has hoovered up all the cash and they come back to the market requesting more.
There's a shocker, nobby. thanks for the deep thinking
John, that has been my point, CG is creaming £8k a month from this business as a strategic Advisor, he also receives £200k in options, it is a joke. Foxy, a delay is a delay, if as a company you say you will start delivering in Q3, I would expect the Board to have been comfortable before releasing that information with some wiggle room to of played with. Currently we have no information from the company on the release of the accounts, that was two weeks ago and the production of panels, a week ago. We are shareholders sat in the dark, with a company that has spent only a quarter of its existence trading.
Jesus, CG as Strategic Advisor. I nearly made a Russell Brand joke then but I think it would have been considered in bad taste.
Thanks John, I think I read, probably from a Foxy post, that Eco would be publishing updates on the litigation process. Also it was a mentioned that CG would be running the litigation and as he is being paid by Eco as a 'Strategic Advisor', it should be published through this channel. Also does Eco not take a cut off any damages for managing the process thus that would require an RNS? I do agree with your comments about submission of operational updates when in suspension, the company did agree to do that in their RNS. Also Foxy and Gaza, it is great having a EUR114M contract but if you cannot deliver against it, it is worthless. They have clearly missed their Q3 production deadline. I wonder whether the developers that Eco have the contracts with are happy to sit and wait for this business to get it's act together or will they go elsewhere, after all these contracts must be over 18 months old by now and nothing delivered, I would be enacting the late penalty clauses and going elsewhere.
Nobby
For once we disagree, is it incumbent on ECOB to release RNS concerning the Kosovo litigation since it doesn't affect the holders of ECOB ordinaries? I'm not saying it isn't, just that I'm not banking on it.
I also disagree with other posters that the lack of the audit conclusion is an excuse to cease providing operational updates. Operation matters are quite distinct, I suppose that operational matters are price sensitive which isn't as persuasive when the shares are suspended, but in principle that should not make a difference - as a shareholder would you expect an operational update for a non tradable share, I would?
Highlights
· New purpose-built factory building in Albania completed close to the new port terminal at Durres
· All plant, equipment and vehicles previously operated in Dubai now located in Albania
· Operational team relocated from Dubai to Albania
· Reassembly and commissioning of plant and equipment proceeding apace at the new factory
· Two supply and manufacturing contracts signed in place ready to be fulfilled valued at €114 million
Eco Buildings is pleased to provide an update on the ongoing works currently being undertaken in Albania ahead of first production and sales of its modular housing product. The purpose-built 3,000m² factory building, located near the new commercial port of Durres in Albania has been completed. All the plant and equipment required for production, which was previously operated in Dubai, has now been shipped and hauled to the new factory site. The team that operated the factory in Dubai and decommissioned the plant and equipment there has now relocated to Albania and is leading the local workforce in the reassembly and commissioning in Durres. Progress is continuing apace. Eco expects the factory to be operational and fully commissioned in Q3 this year. This will enable the Company to commence production and sales under two existing supply and manufacture contracts with a value of €114 million.
70 million shares in play with a market cap of £17m. Discussions around the world on modular housing being the answer to the housing crisis.
Bluerill, from the information received from the company in the last RNS we were promised updated news as and when it happened whether the business was still in suspension or not. My take on it is they have nothing to provide because this business has not really progressed to revenue generating.
And a final observation, as it may be a further small reassurance, during an auditor-delayed suspension such as this one, ECOB could of course not simply sack PKF and hire a new accounting firm. Besides the terrible message that would send (fair or not), that's a big no-no for AIM no matter how incompetently the audit firm may have behaved. If I'm right and this is as it seems a PKF-induced mess, ECOB will be stuck with them until the audit is complete and re-listing occurs. Even then, I think there is a standstill period required after re-listing before said auditor can finally be sacked.
Who said anything about 'scot-free'? What gibberish are you ranting about? Everything you listed is totally irrelevant to what I posted. I simply asserted that the delay thus far is almost certainly the fault of PKF and that shareholders shouldn't worry unduly about any vicious rumours that it has anything whatever to do with Eco-Fox itself. As for updates on the factory and commissioning, delivering 'first walls' to their 2 Kosovan customers, Chile, etc, my guess is that as long as PKF have created such a delay, management has/will opt to update the market on relevant matters near to, at, and soon after re-listing so that the information is fresh and up-to-date. That wouldn't necessarily absolve them completely for the 'sin' of not having done so sooner but, if as is likely, part of PKF's malfeasance has been that they were never able to give management a clear guide as to when the work would be done (as has been the case in other companies I am aware of), its quite possible that Sanjay - even with significant progress to share - may have opted to wait until that end date was in fact clearly committed to before organising those updates so as not to made to look foolish by providing an update and then being made to wait many more weeks, even months, before the shares were able to re-list. If I'm right, that looks at least a defendable decision on his part to me. As with others here and on telegram, I too am hopeful that PKF are nearing or have reached the point when they can/have provided a clear steer on a date of completion, so that we will then hear from the Company on a targeted re-listing date and the aforementioned operational update(s). As for an update on the Stone Alliance litigation, that is a total lottery ticket and you should treat it as such; i.e., worry about it somewhere else.
Bluerill, I agree with you to some extent that PKF may have caused the issue here but you talk complete tosh in allowing the Board to get away Scot free from blame. We were told that RNS' on progress would still be released whilst the business is in suspension, they appear to have missed their deadline of getting the factory up and running, have gone quiet on the Kosovo arbitration case and not once presented any new contracts that they had previously mentioned would be forthcoming.
There's a lot of not entirely surprising (or unwarranted) gnashing of teeth (and far worse) here blaming management for this interminable delay. However, the more that one looks around AIM, the more companies one finds with auditing delays where PKF is the audit service provider. Further enquiries have revealed that PKF is a complete mess frankly: Overbooking clients while actually understaffed and riven with a super-cautious approach that requires reviews and re-reviews that they are also unable to conduct efficiently because of a shortage of senior staff as well, this time through early retirement. There are credible rumours in fact, that class action suits (are there such things in the UK?) are even being considered by the management of the impacted companies, and some the larger institutional shareholders. For me therefore, I think we will see our re-listing soon, and as nearly as is possible, PKF to be thrown under the bus in the process. This delay has been far too long, but increasingly, it does not appear to be ECO management that are responsible in my estimation. Small comfort perhaps, but at least we can discount the more lurid, troll-y narratives here.
October has arrived .Let us see if we get any news
Well they aren't running a business are they. Walked away from it on day 1. I would be surprised if they ever issue another RNS. The ECOB office must be a nice quiet place to work since its deserted!
Yes, Foxy is convinced the factory and location are great based on the fact that the company gave him the coordinates of the factory and he looked up the region on dated (7 years old) Google maps. It is all pie in the sky. He is very upset that people are doubting CG and the Board but to date we have seen them miss every deadline they had set themselves. How is that a way to run a business?
Are the Telegram posters still convinced this is all above board and they are on the roads to riches? ECOB is dead and I think has also lain down, no refusing to lie down here! What a complete and utter con! AIM surely has to do something, where is the regulation?
Hi John, I could sort of forgive him if he was dim, but he is incompetent and because of that, dangerous and reckless with investors money. I would say that makes him a borderline crook along with his business partner Etrur Albani. There is no doubt in my mind that he is still running the show here and Sanjay is just a Patsy.
Nobby
I used to think that CG was just nice but dim. My opinion has since sunk lower and now, with this second incarnation. he is looking no more than a cheap crook. I hope to be proved wrong but that sure ain't looking likely just now.
John, have a read of the telegram post, how dillusional are some of threse shareholders, professional company, experienced board. CG and EA could put the business into administration after paying themselves a fortune and they would still love them. Incredible.
Administration then liquidation are the next 2 RNSs. The ECOB scam is likely to go down as a new low even by the standards (or lack of standards) of AIM!
They have been saying that since the share was suspended but not even a whiff of progress this will crash down when the suspension is lifted no progress and accounts will be horrific no doubt
Well that is mid sept over I would say and no announcement of completed accounts or an update from the incompetent board on what this business is doing. Everyone on Telegram seems buoyant that several RNS' are going to drop all at once in the next week or so. Hmm
Nobby
Did they say Q3 this year, or 2024?
Or 2025?
John