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where this has gone or going ?
Stinking lousy feckers
Ditto Pablo got the same this morning.... Let's hope for a resurrection! From their website........ Following the resignations of Barry Heath and Ivan Couchman on 22nd December 2015, Charles Kempf is now the sole director of Insetco PLC. Mr Kempf is currently assessing the state of the business, which has been severely hampered by a lack of suitable handover from the outgoing directors, before coming back to investors. During this time we ask for your patience and assure you that every effort is being made to reduce expenses and costs to maximise the chance of the business continuing as a going concern. Any shareholders who are willing to offer their time and expertise to help in these efforts should contact the company at info@insetco.com, especially anyone with a legal or accounting background. We hope to be able to send out a communication to shareholders before the end of the month. Website last updated – 17 March 2016
Had a reply after 14 months from info@insetco.com : Dear XXXX, Please refer to the Insetco.com website for an update on the current state of the firm. Regards Martin ------------------------------------------ Strange but true - anyway, surprisingly this LSE BB is still going, so there you have it anyone who got stuck at the death. They are asking for help/info on the Insetco website.
Strange it's back Must be a glitch
A bit strong Andy but you are right that it is concerning if one individual's error set this all in motion, I would assume that if this is the case that action was taken as it is likely we are still paying his wage.
I think the problem is that they went to the less discriminating nomads too late in the day, whether or not more could have been done sooner is something only the bod know, as us the amount of progress made whilst Ivan was out of the country.
No I'm afraid I don't believe it. There's clearly a massive backstory here that they are not disclosing (and indeed have been told not to disclose). Ivan is putting a positive face on it (that's his job) but that's just spin over what is clearly an almighty road crash. Let's be frank here. AIM has some really really dodgy companies on it, and some NOMADs that will quite happily represent them provided they get their retainer. For an existing AIM-listed company to be turned down time and time again by other potential nomads (four!) tells you there is a massive structural problem. We'll never know the full story, but if the fine chaps that compose the more "tolerant" end of the NOMAD community won't touch it that pretty much tells you all you need to know. ... and the pig got up and slowly walked away.
Why are we not naming the 'tea boy' who's error has cost the business. I assume that you are referring to Mr Sweeting?
Anyone believe that shi&!? No! I wasn't our fault we got struck off AIM! It was the shareholders requesting transpersary! Yawn! It's ok the contract is still coming plus four more orders!!! Yeah right. So what happened to the DD of our new contract?????? Hmmm Four nomads refused listing?? Hmmmm. I have phoned cairn and they were very critical of Ivan and Co. Incompetent and not fully disclosing information. Ring them and ask them. I was on holiday and not my fault gov! Let's take a director salary until the funds run out more like! And before I forget, a tea boy forgot to send a fax about the AGM??? pretty sure he still works there!!! I won't name him but people can probably guess Your money is gone, face facts. It's embrassing.
Some welcome clarification. Years before any developments. But hey....
Thanks miller, the staff member who didn't send the RNS should be dismissed immediately for gross negligence!
It won't be on here,this board will disappear soon. Hard to put much faith in comments attributed to Ivan Couchman after the recent track record. Hope I'm wrong. Had a good day with AMC after holding for five years. You win some you lose some. GLA
Broker - thanks for your comment and feedback - let's hope the statement proves positive for us all.
Terrafin I spoke with Ivan yesterday evening and there will be a statement issued and likely today. He said the announcement had been delayed as lawyers needed to give it the green light because there was some sensitive information within it. He seemed more than happy to have a conversation with me and will offer the same courtesy to any shareholder. Insetco will be around for some time to come, I am confident of that I just don't know in what form, private or on one of the junior markets.
Newstate have you spoken with Ivan ?
Why no statement to shareholders? Ummmm You think that is acceptable? I think administration.
Id like to inflict pain on these so called senior management (rogue buinessmen) , something akin to light switch scene in the film Taken.....................................
Or any statement from the company after cancellation????? Utter shambles from the company
Why would INC being delisted affect how Melken and Quantus carry out their due diligence? If. Insetco folds they will be able to find another firm to do the monitoring. If you as a shareholder don't believe in the contracts will come to fruition why would anyone else? If no one believes in the business, being listed won't make any difference as no one will buy the shares and it will have cost to complete the listing. You would only list post deal as that would reinforce the business model, if not best to return the money you would spend on listing to shareholders. But I agree the. Canadian exchange would be preferable to plus markets.
Why not list on the Canadian exchange? If it's a Canadian operation? I can't believe they still think it's coming? Surely the fact of us being delisted was enough to get the deal through? I am not convinced
He does, if not they'd have packed up before now.
Does he believe the contracts will still come?
I had enough thanks Newstate. As far as I am concerned the company has enough cash to run until at least the end of the year. This is and always has been about the 300k contract, if this comes in then there will be enough cash to run the business in the short to medium term and will lend credibility to any future listing attempt. There is no point attempting to list until the contract comes in as it will give credence to TW and his accusations of dodgy dealings, however, resisting when there is cash flow would see this share well above 0.1p. If we were still listed our burn rate would be greater and there would be more chance of going bust, albeit we would have the value of a cash shell as a backup, which would value the shares at about 0.03p. For all those who invested / stayed invested because they believed that the contracts will come through then this is no real setback and if anything gives longer for this to happen. It reduces the liquidity of the investment in the short term but long term, if the company comes good then I am sure there will be plenty of chances to sell up. For all those who are short term traders and never believed in the business to begin with then you were speculating and should have known the risks. I suggest that all the posters on here free up their diaries for the AGM and put your questions to Ivan directly. A matched bargaining facility would limit the cost for the company whilst allowing shareholders to sell as an interim solution for those needing to liquidate? I have since spoken with him and had a very constructive discussion, as stated above I have always been in until the contracts come in or the company goes bust and as it is in my SIPP the delisting doesn't have too much of an impact liquidity wise.