Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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who can trust them ,can you jolly
A class action would have to prove professional negligence with regards to any auditors ...what is really needed first is the completed Administrators report and findings ...which will I suspect take time,given the need to be extremely thorough and covering more than one financial year. The concern must be now for the employees..one wonders exactly how much revenue is actually coming in per month.....their facebook plea smelt more of a desperate scream for someone to buy the company given they believe the products are worth saving
If the bigger institutional investors choose to sue the auditors in the event of the shares being cancelled, do we as private investors need to do anything to be included in the success of any class action taken or is the fact that we are included on the share register sufficient? I certainly don't have the funds to take any legal action myself although I am kind of hoping some form of class action could provide some benefit to all shareholders.
Said it all-nothing for shareholders however many of our former advisors & or Directors who the Administrators sue. It is incredible that in barely a week a company can go from defending itself against what appeared to a malicious & contrived bear raid to being in Administration & effectively insolvent.The IIs ,particularly those buying in the last week or so, must be furious & embarrassed & there will be several Advisors & NEDS who should be holding their collective heads in shame & I hope that they are pursued by the Administrators although that will not help us.
There are a number of high profile fund investors like Legal and General, Standard Life, Hargreaves Lansdown and others and there is AIM and FCA so this is far from over but GT will no doubt try wriggling out. Enron debacle brought the collapse of Arthur Anderson but now most Auditors are in LLP's so individual liability will be limited but there will be Insurance back up in case GT are found ''wanting'' The hope is that the Receivers may take GT to task after Auit but they have indicated that the listing will be canceled.
there are a lot of new requirements on Directors to attest to the Auditors that what they have provided is accurate and that they have been open and honest. GT will probably hide behind arguments like this.
developers say they have a product... anyone with a rich uncle to bail PI out... ?
At least the share price is now stable Yet another example of why AIM is not investible
0p. Another stunning AIM success.
Does that mean the shares will be cancelled regardless of the outcome of the forensic audit? Anyone have experience of suing auditors? If this really does go tits up for shareholders, I cannot believe Grant Thornton will be able to simply walk away from this with no responsibility to shareholders, especially after the fees they charged Globo for carrying out the audit.
oh dear
Fracker, the worst outcome could be that the Company is put into Administration and thereafter if there is no resolution, potentially it could go into Receivership and while parts may be sold off to pay off creditors, as Shareholders rank last in line to get anything left over, it is likely they would get nothing. The best scenario is that the Company is still worth something and could re lists, a new board could be appointed to carry on or somebody buys them off and pay shareholders the going value (and it becomes a subsidiary of another Company) From previous postings, it seems there is still a business and the software is good so hopefully it will relist or is bought off. I think not with all the Directors abandoning the Company. Until we get the FCA report, frankly we are in the dark.
MINIDEVIL please explain the link posted
Cantor Fitzgerald?? http://www.londonstockexchange.com/products-and-services/trading-services/registered-market-makers-by-security.xls
Who is still on the board now then? Has anyone spoken to IR since Burnell's resignation? Some job he did of leading the investigation. Have signed up on Share Soc. Will look into contacting Forum too, although suspect they'll be disinterested in an email from my hotmail account. Nice rapid response from the FCA and Serious Farce Office as well...not.
Fracker. I would say best case fcuk all.Worse case fcuk all ! Ye can see which way this headed.
Sounds quite genuine but completely irrelevant now as practically all the board has quit, costis has done a runner and we no longer have a nomad so we will delist in under a month. I actually hope they close the business entirely so there is no mention of globo ever again!..... Until costis court case in about 10 years time.
A very interesting development. If, (and if) Costis hasn't run off with the company cash, and there are sufficient agreements in place (eg. 40-50%) of the claimed revenue, then any administrator would attempt to run this as a going concern. The pressing issue is the de-listing. basically we are screwed.
If you're having to ask that, I would suggest that you don't invest in shares and stick to a savings account!
Can anyone tell me what is the best and worst outcome scenarios with regards money I invested in this company?
Globo Employees have posted a statement on Facebook - poor folk are as shocked as holders here, maybe even more so after their formerly esteemed leader has been revealed as crooked: https://m.facebook.com/story.php?story_fbid=562662883886842&id=562641343888996
A number of well known funds have been duped. Surely, they will mount a case against the Auditors. Also CFA report will hopefully tell us what actually has happened. In the meantime, we have been fleeced
Only lost 2k here. Had enough of aim now. Holding a few stocks still but when they have run their course I'm sticking to markets that are actually regulated.
Like Aero Inventory, Afren and many many others, the Auditors always seem to have an excuse. I'm scanning to see which Company will be the next AIM Fraud. AIM is now almost uninvestible IMO.
IMHO..this is a massive fraud conceived and implemented over a long time period..if the report had not surfaced we could have been duped into much bigger losses..I added to my holding on Friday 23rd!!!..I hold 175,000 shares...