Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Anthony Dyer joined and Graham Mullis now chairman. Lovehemp must have been desperate or smoking their own products to employ these two. Watch out new investors.
Both of these people deliberately misled investors on Novacyt to maximise their LTIP strike price in October 2021. In that same month, both men retired only to join new companies months later.
Private Eye has a very telling story on Graham Mullis where he is alleged to have falsified covid test data and the DHSC is now claiming £135m against Novacyt. Meanwhile Graham Mullis and Anthony Dyer left Novacyt with £12m bonuses and able to cause more damage in other companies. All of this information is available online.
Moving up fast again
After UFC launch in Jun, then came Anthony Jushua, yet this company Share price keeps on falling :).
wonder what the market is waiting for.
dropped from 12p to 2.5p
whay went wrong or just warrant holders exercising warrants.
answer would be much appreciated
After UFC launch in January, then came Anthony Jushua, yet this company Share price keeps on falling :).
wonder what the market is waiting for.
dropped from 12p to 2.5p
whay went wrong or just warrant holders exercising warrants.
answer would be much appreciated
The key thing for JM has always been the implied increased valuation he can assign to the DBC using the supposed 'independent' interest of LIFE. To imply this he doesn't seem to bothered that the co has been run into the ground doing it. The same will still apply in 12 months time. I.e if he allocates Life the originally mooted 7% of the DBC for 200k, now that we now longer have an AIM shell, that will imply a valuation for the DBC of 2.8 mill or so, at a time he will be trying to attract other investment at a higher valuation to avoid write downs in his other co's (plus satisfy his crowdfunders). You see the problem. All this assumes the DBC will even be floatable at all then. In itself an outside chance imo. Hence the 20-30% weighting. But for the same reasons JM will be very reluctant to see LIFE abandon the DBC, we are now tied to them. PS Here is wishing ANT a happy (hopefully temporary) retirement.
I understand your feelings Tillerman, but rightly or wrongly, I am more optimistic. The RNS announcing the cancellation of the AIM listing did say that it was still expected that the RTO with DBC will proceed. They have not bothered to list LIFE on NEX, which IMHO would have been a bad sign as it would suggest that the RTO was to take even longer. It is always a pain to have to wait for action to take place, particularly as the option to sell has been take away. But I just accept that I took a risk when buying shares just before they were suspended and I have to live with it. But, as I said earlier, I am still hopeful that we will profit from LIFE once the RTO proceeds - it is just a matter now of 'watching this space'.
If you define an 0.5p per share return in 6-12 months time (after that the money will have run out) as 'something benficial to shareholders', then the chances must be as high as 20-30%. Only a 90% reduction in our original value of 1m for the shell + 1m in cash. It's just as well the BOD seem to have worked tirelessly on their - sorry our - behalf for several hours a year, otherwise God knows what might have happend. NB That earlier tweet - "Working on a T" - how did that one turn out? NBB Keep an eye out to see if they ever bother to update their website, (which is still promising an EGM to return cash in the event of delisting), in regard to the loan, that will be a straw in the wind.
It's certainly a cruel tweet if not backed up by any substance. Not holding my breath.
Ant1986 - interesting that you got some reply from JM - even if it was 'Watch this space'. I'm still hopeful that some good will come from LIFE as I can't believe JM would want his reputation tarnished by failing to arrange something beneficial for shareholders.
Inertia is a matter of BVI practicalities I suspect. I can't imagine there are too many shareholders here not nauseated by the BOD - given the outrageous, relentlessly self serving conduct and broken pledges that seem to have occured here. I notice our CEO, Mitch "the invisible man" Anand couldn't even seem to put his name to that absurd signing off statement. For a UK registered co, it's feasible to call an EGM with 10%, then elect your own directors, and simply tell the current BOD to p*ss off. Here though, you would need to check out the BVI Companies Act to see what action is feasible. I wonder what the guy who historically held 17% thinks? http://www.bvifsc.vg/Home/LegislationResources/tabid/358/ctl/ArticleView/mid/1079/articleId/1581/language/en-GB/BVI-Business-Companies-Amendment-Act-2016.aspx
I agree questions need to be asked, can't believe all the share holders are just gonna give up.
Any action planned here guys? Looks like the "rebells" have won vs MRS, though there is a business to fight for there, not sure what there is left to fight for here? Any views? Pretty sickening I agree...
Do I take it that there is no money left at all to return to shareholders?
What went on at LIFE was far worse than merely being "cavalier", or choosing uninspiring investments.
I find the Jap theory and Jim Mellons cavalier attitude of Britain's most successful investors as an utter joke given he's failing on a number of fronts of late. The timing could not have been worse for LSE bb users who watch the video promoted at the top or the lack of progress at LIFE, FFWD etc etc etc.
The kicker for me is Mellon was at the Master investor show the other week acting like some fecking guru. Saw some guy of Share Talk fawning all over him. The words snake oil and salesman spring to mind. Surely there must be some way to challenge where all the money went.
Nail on the head. Aside from some minor miracle It's difficult to see how s/h will see a penny back. Thanks, Jim, for your fantastic consultation and due diligence in evaluating a "number" of different RTO targets. I would love to see the evidence that he looked at even one other to that of his own asset. Another AIM disaster. Casinos are more honest.
But we have traded an AIM shell, one of the last allowed to operate on much more favourable terms, and $1.5million in cash - For the joy of making £200k unsecured (not repaid on its due date) loan, on non commercial terms, which, wait for it, is STILL ACCRUING Interest, to an unlisted company - which clearly has even more FINANCIAL ISSUES, shall we say, than the burned out remnant of LIFE. And if this wasn't enough good news, we also have an incredible NON BINDING pledge that said company, currenty unlistable even on the AIM with JM backing it, may one day reverse into us (pretty much an act of charity if we aren't even on the AIM anymore) as a prelude to getting back on the same market we have just so carelessly left. Just as long as we cough up a shedload of extra cash for the privilege. What could be more perfect? Who in their RIGHT MIND, would want a cash refund PROMISED BY THE BOARD as an alternative, when they could have all of this heady grandeur? Not to mention the thrill of possible Biannual updates on LIFE's very own, paragon of integrity, website. PS A Twitter group may exclude people not that familiar or comfortable with Twitter, but I suspect the letters BVI are trump cards anyway.
So I take it we've all lost our money, Jim Mellon wins again. The Bod should be ashamed of themselves. Any money left we want it.
Please could you add me in @AndyMuz89 Cheers
I've set up a Twitter group, if you're interested, drop me a line. No action planned, just for info.
I do find it strange that JM is not a named director of DBC. Considering his involvement with the company, he is surely a 'shadow director'. I note that Peter Steggles who resigned on 27 March is 80 years of age. Well out of it Peter!
Melon went to the master investor show last week, should have been the Master baters.
It's pretty sickening. Lost a lot here. Jim Mellon has basically just walked off with $1.5m for doing absolutely nothing. AIM really is a shower of shit
Just had a look on their website, LIFE is incorporated in that haven of integrity the BVI. Which may possibly mean there is not much that can be done in practice. it is not clear. I suspect the chances of the DBC ever being floated are about as likely as the BOD here ever keeping a promise, or showing any concern for shareholder interests. I imagine their chances of obtaining further funds here from shareholders in the unlikely event that it is, as they claim to want, are similarily minuscule.