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Having had these shares for so many years, should i tear them up and forget about them.
Yes i agree
just look what has happened to bidstack
i was in there a few months back
but needed some money
thank the lord i sold
feel sorry for all the peaple
just a conman that james drappper
all the best to us and them
Sell the lot for it makes no sense to return to AIM which is
a casino. So is the rest of the market as explained by
City Professionals. Premium Bonds are an investment.
Stock markets are a bet.
You would like to think frr selling the lot rather than getting the 100 M investment would be the better route to go down in the event of a return, surely SN must’ve have had enough now. Sell whatever licence we have now as the money would make all the court cases disappear in a flash as well as us.Only problem we have is the crazy Ivan next door
The Big Boys are trying to mop up any bargain in O&G worldwide and our FRR
deserves attention. Dulwich, you may be right and if we are lucky then all is
bright and beautiful sooner than later. Good news keeps us going .
WHamBoy – I agree with tsbs1 that there is more chance of a Close Encounter of the Third Kind than an encounter of any kind with FRC if the dockets, dates and open litigation remain as they currently stand.
On the YA case, recent / emergency motions filed by YA remain open though they could be agreed / denied at any time. That said, sometimes motions like this remain open without any apparent resolution, at least on the public record.
YA remains on the docket for 6th October to hear FRC Motion for Trial on Merits and the YA Motion for Summary Judgement. It’s hard to follow as so many hearing requests, but it seems both these hearings are at the request of the company.
The FIC case is continued to October 2024.
To date, only the ZM case has gone to trial. All other cases have settled out of court.
After the actions of the UK PM re both getting a new O&G field . The extention of hydrocarbon cars and from memory a new coal mine. Add to this the actions of many countries which are not widley reported in the UK press. It seems to me that the race to net zero has slowed down. Then add in the reduction in production of OPEC + which is more than just the relationship issues with the russians. The virtual stop to new wells during Covid and a very slow pick up afterwards. it is beginning to paint a picture. Quite what that picture is I think still unclear but the march away from O&G is certainly under review . Then add in western governments being scared of energy security and quite rightly so even going against the sanctions on Russia - there has been about a 35% increase in puchase of Russian O&G by EU member from the start of sanctions!
From what I have read the big boys are trying to mop up the easy O&G around the world.
If what I see through murkey vision of the picture of the future of O&G I think the future looks bright still if the legal stuff all works out.
What do others think of the changing picture?
I think we need to temper with our own expectations if we think that the company may communicate with us after the YA court date (assuming this is closed/settled satisfactorily). Why? Well, I think the key case is the FIC+Official Receiver vs SN et al which is pushed forward to Feb 2024 (if my memory serves me well).
For me, Unfortunately, the YA case is all deja vu again. Recall all the hype leading up to the ZM injunction case: Everybody proclaiming that there were dark forces at work and therefore secrecy was required to prevent ZM and affiliates (Hope, Georgian Govt etc) sabotaging the company until this case was concluded. Well, FRR comprehensively won against ZM with a Permanent injunction plus breach in his Employment contract.
Overall we are making progress and we just need to trust the legal process to close out the remaining cases (even if blindly). I still think the best signal the company can send us is via resurrecting the company website and using this platform to update us (if this is possible).
Just my ponderance on further reflections.
I see your medication has worn off tabs, keep the faith in all things are bright and beautiful all companies great and small?
GLA real holders
Motley Fool , TW etc. and Mapp were belittled by influencers who
were blinded and thought ZZ was the One and Only. Similar Situation
on OMI, etc. All found a hole in the ground with an eternal stream of
lucrative dreams for gullible fools . AIM is high risk without any rules.
Sadly whamboy theres more chance of aliens arriving
If we don't hear anything in next 2 weeks, then I really will be annoyed.
Most cases are over and hope case imo should not stop the company issuing an update.
In the interim period,I don't see why the company can't set some expectations.
So what’s the chance that we are going to hear something from the company directly after the YA case has been completed, on or soon after the 6th October?
It would be lovely to finally hear that we are about to get some real hard cash back into our bank accounts. Am I expecting too much?
RR "You have to be in it to win it,"
"Sell all your investment and invest in FRR."
I sold and naively explained and most likely sounded like a
short-seller. Reaction "Do you suffer from self-harm?"
I bought back and topped up. That was the beginning of the end.
Was RR a paid influencer? Nobody seems to know or has the guts to
explain. T.W. on ADVFN had the alarm bells ringing and he too was
belittled. Years of tension and legal sharks taking advantage.
If J. Hunt is looking for investors he has to clean up Finance first.
It worked well when you made 100 posts a day about trusting Zaza on your Rainbow Rider account.
Lots of negative about the past, but I am holding on Steve’s family background , it does not sing out bad things to myself!
I am hoping we have our very own “S”aint “N”icholas.
GLA real holders
Overall for most of the time that Frr have been delisted I have thought that Frr would recover, but never sure on whether or not there would be anything there for shareholders & in shareholders I do not include SN & other BOD.
Tabs, that’s your last 2 posts now without your dark humour, is this even you now starting to believe all things are bright and beautiful all companies great and small?
GLA real holders, hopefully the news we crave comes soon
I really do hope you are wrong, but it is a possibility.
Imagine that strung along for 4 yrs and then they deliver the killer blow.
Steve N is a man of faith, I hope he has highr morals and values that to stab us on the back, but the world us different these days, so.who knows...
I wouldn’t worry too much about has had what shares. I would be more concerned about who has paid for the legal action in all of the cases, what has paid for all or any employees in the last 5 years.
I am expecting the mother of all rpns and only people with 100s millions of shares serving the company reconstruction and conversion
Anything else would be bonus
Many investors buy AIM shares in good faith and ignorance.
Exploration shares are far too risky and should be excluded from ISAs.
The FSA turned a blind eye. The FCA may wake up at last for it is wrong that
O.A.P.s are misled and allowed to invest their ISA allowance into high risk/stress
AIM shares in Georgia, Bolivia, Zambia, etc. while UK investment is in need of
MONEY. The Invasion of Europe from Africa can come to an end if the Arabs
welcome their brothers and sisters , their neighbours. There is space.
Europe has now reached saturation point. If Hotels switch off their heating then
it becomes obvious that a Hotel in Dubai is nicer. Make it less comfy for the army of
invaders and they will stop coming. Africa needs engineering and birth control and not war.
It's all possible if I were in charge and I am not the only one with common sense. Keep smiling.
I agree with Monti, don't see any way to unhand him of his shares that he purchased by exchange of loan notes or bought in a placement or purchased on the open market. To the extent he was awarded any shares as part of his compensation, perhaps those could be forfeitable for breach of employment contract depending on the terms of the share award granting documents.
To be honest, I think majority of the shareholders (incl me) will not completely recall this employment case with ZM, so thank you for bringing it back to our attention. But given the importance of this case, it would be nice if the Company provided some clarity (if legally closed). And if FRC were successful in winning the ‘breach in his employment contract’, then the only way to nullify his shareholding would be via the new company (FRUS?) where (I assume) old shares would be replaced in to the new Company while ZM doesn't get any thing from this ‘transition’.
Also, the terms of his employment contract goes back to 2008, but I do recall ZM participating in two fund raising, one priced at around 0.08p and the second at 0.57p. back in 2015 or 2016 (?). He also converted his substantial personal loan notes (together with Mr Nicandros) at 1p - or was it higher price? Given his personal hard cash investment, I am not sure if the company has the right to cancel this unless approved by a Court.
Overall, things on the ZM front have been conspicuously quiet since the permanent injunction was granted by the Texan Court, while we the shareholders remain on the outlook for some official company news.
As some might recall, The ZM case was saddled with two appeals. One of the appeals was an FRC motion to compel arbitration (as per a clause in ZM’s contract) to settle employment related disputes between ZM and the company.
In FRC filings in support of this appeal, the company stated “In fact, ZM’'s very right to become a shareholder in Frontera is dependent upon him being an employee of Frontera..(and the contract)…setting forth the terms on which ZM is entitled to purchase common stock in the Company..(and)..grants ZM the right to purchase shares of common stock of the Company.
And - "in light of the fact that ZM became a shareholder in Frontera only by virtue of his Employment Agreement,"
At another point they state “Appellee Zaza Mamulaishvili (“ZM”) was an employee and former minority shareholder of Frontera. ZM signed an Executive Employment Agreement dated December 1, 2008 with Frontera pursuant to which he was the Executive Vice President reporting to the Chief Executive Officer of Frontera. The Employment Agreement contains a broad arbitration provision.”
ZM’s employment contract and associated arbitration agreement was discussed in detail in the filings, and included the following –
“Paragraph 29 of the Agreement between FRC and Mr. Mamulaishvili stated as follows:
Entire Agreement. This Agreement, which contains the entire contractual understanding between the parties…regarding employment, consultation, agency, independent contractor status, or other rendering of services for compensation, or regarding stock options, restricted stock, compensation, insurance, benefits, prerequisites, confidentiality, non-competition, or intellectual property.”
Back in the main hearing (the “ZM case”) Judge Weems delivered their Final Judgement. Subsequently, FRC petitioned the Appeal Court to dismiss their motion to compel arbitration stating such a claim was now moot. FRC advised the Appeal Court that, amongst other things, Judge Weems ruled that ZM was in clear breach of his employment contract.
There has been no further mention, at least in the Texas cases, on the status of ZM and his shareholding. The company obviously see it purely as a consequence of his terms of employment, and, if that is the case, it would follow they would seek ways to nullify such holdings should the law allow.
We might never know if ZM bothered to attend arbitration (arbitration is private and confidential), though if he did, and based on the Final Judgement, I doubt he got see very little, if any, of his claim for $11m+.
The above is just one potential way the company might have dealt with ZM’s holding. Though based on court records, it is pure conjecture until we see more supporting evidence, but you can see it was very much on the company radar.
He could gift his shares to all the shareholders pro-rota to make up for being such a see you next tues.
What a crook here's hoping for karma