Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Last post: BigYellowPig, 13 Jul 2022 09:49
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
Started: saintpeter7, 18 Apr 2017 18:00
Last post: Tillerman, 20 Apr 2017 17:42
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.
Started: VisionOfFuture, 16 Apr 2017 13:53
Last post: Tillerman, 16 Apr 2017 20:51
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...
Started: Jrlomax, 11 Apr 2017 20:16
Last post: Tillerman, 15 Apr 2017 19:27
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.
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.
Started: mikemac, 15 Apr 2017 11:05
Last post: mikemac, 15 Apr 2017 11:05
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.
Last post: Ant1986, 8 Apr 2017 12:48
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.
Started: saintpeter7, 6 Apr 2017 18:10
Last post: saintpeter7, 6 Apr 2017 18:10
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!
Started: Tillerman, 6 Apr 2017 13:44
Last post: Ant1986, 6 Apr 2017 16:00
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.
Totally agree with you on this Tillerman and whatisname is often quite right. IMHO JM and the Bod have not acted in the best interests of shareholders and therefore should be removed. Once they knew that DBC would not be ready, they should have looked for another RTO and I suspect they knew that 6 months ago!
You will need to put the right name in link in prior post to get full article and avoid the ***'s extract again "This is a disgrace! 18 months ago when Life Science was created, it said that if a deal hadn’t happened after 18 months, it would call an EGM to consider giving the surplus funds back to shareholders. With hindsight, it should have just handed back the $1.5 million it had then and avoided this farce altogether, but it is what it is. However, instead of doing the decent thing, keeping its word, and handing back the few pennies that remain, it is determined to spend the last remaining funds trying desperately to see if a deal can be done with The Diabetic Boot Company. Funnily enough, it hasn’t repaid the loan either. For the love of God, Jim, can you not just give it a rest with DBC or, if you think it’s that damn great, just fund it yourself rather than using other shareholders’ money, pay back the loan to Life Science and let its shareholders get on with their lives with a couple of quid in their pockets. Maybe I’m just being naïve, I mean, why would anyone do that though when there’s other people’s money to spend??"
Started: Tillerman, 6 Apr 2017 13:14
Last post: Tillerman, 6 Apr 2017 13:14
http://www.*************.com/views/28279/life-science-developments-it-s-life-jim-but-not-as-we-know-it-to-be-booted-off-aim "18 months ago when Life Science was created, it said that if a deal hadn’t happened after 18 months, it would call an EGM to consider giving the surplus funds back to shareholders. With hindsight, it should have just handed back the $1.5 million it had then and avoided this farce altogether, but it is what it is. However, instead of doing the decent thing, keeping its word, and handing back the few pennies that remain, it is determined to spend the last remaining funds trying desperately to see if a deal can be done with The Diabetic Boot Company. Funnily enough, it hasn’t repaid the loan either. For the love of God, Jim, can you not just give it a rest with DBC or, if you think it’s that damn great, just fund it yourself rather than using other shareholders’ money, pay back the loan to Life Science and let its shareholders get on with their lives with a couple of quid in their pockets."
Maybe Melon would like to invest in a couple of companies I am setting up. The first will provide chicken lips to the food industry, they are tasty, low in fat and good for the kids. The second is a Rocking horse sh@t manure business, it makes great compost and is really good for your roses. You gotta laff, it's better than this shit.
Interesting. Thanks.
Make that an "unlisted, NED related party, debt spiral company like the DBC".
It seems to me that there may actually be corporate governance offences of the type that get directors disqualified going on here, if they ignore the requirement to call a new EGM prior to extending any unsecured "loan" to an unlisted debt spiral company like the DBC. A complaint to the regulatory authorities may be worthwhile. http://www.investopedia.com/terms/n/non-executive-director.asp
Going to have a few convos and see what our options are.
Started: kezzman, 5 Apr 2017 21:15
Last post: kezzman, 5 Apr 2017 21:15
your a billionare how about dipping into your amassed fortune and seeing small shareholders right here give us something back here you ****
Started: Tillerman, 5 Apr 2017 13:31
Last post: Ant1986, 5 Apr 2017 19:26
Concert Party would be the only option then. I'm just shocked by how badly this has been handled. I want the accounts as much as anything, terms of the loan agreement, the lot. Not going down without a fight.
Sorry, that yes does not relate to FOR, it's a reply to SP.
Yes, I think there may be a default format supplied essentially by the AIM with only basic info. I wonder if will get that or something hand crafted - simultaneously apologising, calling an EGM and announcing the resignation of JM, but I doubt they have that much decency. Pity they didn't turn this into a longevity Investment co, that would have been easy enough, & gone down well as unique on AIM, not enough in it personally for JM and MA too clueless I suppose.
Did they announce an EGM too?
With my last one FOR, they issued an RNS at 7 am on the day of the AIM listing being cancelled announcing the fact . So in this case tomorrow morning.
In fairness he was quite elderly (born in 1936)
I note Peter Steggles has stood down from DBC according to companies house
Started: cattleman, 5 Apr 2017 09:05
Last post: cattleman, 5 Apr 2017 09:05
If this gets cancelled today how much money if any do you think will be returned to share holders?
Is not the man i thought he was...possibly why he so wealthy....no concern for others comes to mind...
Started: Tillerman, 4 Apr 2017 14:03
Last post: Ant1986, 4 Apr 2017 19:51
If this gets cancelled tomorrow it will be the worst performing share I've ever invested in. $1.5m and 18 months to do anything, literally just spin a wheel and invest the cash we have.
I understand from my previous experience with TEN that the share listing will be cancelled pre-trading on 6 April and so we would appear to have until by the close of trade tomorrow. Love your comments, but extremely p..sed off by this apparent fiasco. I don't think AIM gives any extension time, unless you know otherwise.
Is it Tomorrow or Thursday? Will they announce a date for the promised EGM at the same time? (Don't bank on it given their organisational skills and apparent total lack of interest in their shareholders). If they don't what then? Will Mitch ("Six months ago I couldn't spell CEO, now I are one") Anand come riding to the rescue at the last minute on a worn out donkey called T - Almost certainly not. Will JM leap suddenly out of his rocking chair, rejuvenated by life extension drugs, and requisition a further 2 weeks from a compliant AIM to complete the RTO of the DBC, I think no. How much money is it realistic to expect for cashback? 1.5p?? Any guesses?
Started: I5gotnocash, 3 Apr 2017 11:30
Last post: saintpeter7, 3 Apr 2017 17:44
Werberone - have a look at PRS's bb which is being used by GWIK holders. I have not posted as just waiting like your goodself. The PLC i3 Energy has now been incorporated but still don't know what the timetable is for the IPO.
Hi Saintpeter7 what is the latest with gwik ? since the BB went down i not been up to speed with what happening
This is the fourth shell I have been involved with, the others being GWIK, FOR and SMA. The first came up trumps, the second ended up on NEX (thankfully only a £500 punt) and the other has until July. In my short time experience, rarely does anything happen quickly and the six months time limit before AIM cancellation seems to be fully utilised. I took comfort that JM was involved, but now not at all sure. Last minute - let's hope so.
Until our fate is known.
Started: cattleman, 1 Apr 2017 15:11
Last post: Tillerman, 1 Apr 2017 18:54
The Diabolical Boot Company is continuing to churn out feel good tweets every few hours. below is a puff piece on them from The Manufacturer dated yesterday. There is presumably some cynical reason for all this ongoing feel-goodery, after months of somnolence. http://www.themanufacturer.com/articles/wearable-tech-soothes-diabetic-suffering/ If LIFE is not to be delisted next week looks like an investment in the DBC, on which shareholders will not be allowed a vote (ie not an RTO) is a strong contender. This is likely to be at an unrealistically high valuation imo, to suit JM, and is in many ways a worst case/nightmare scenario, at least in the short term (as other perhaps more attractive investments would presumably follow) . An investment in something new and promising at a decent valuation is a lesser possibility imo, with DBC perhaps to follow later, and might be best case, with an EGM giving limited cashback between these two options in desirability and perhaps the most likely.
Dead and buried...seems so ,or is their a glimmer of hope ?
Last post: saintpeter7, 31 Mar 2017 20:20
Not surprisingly, DBC will be late in filing their Accounts to 30 June 2016 if they are not filed today. Not that the Bod are probably worried - what is a £150 penalty to a company of their size. That tweet just makes you think there is an outside chance that an investment will be announced before 5 April. I don't think it has to be an RTO for which time has surely run out. The fact that they shortened the current accounting period to 31 December 2016 from 30 June 2017 and that there was registration of a charge in December in relation to £2m CULNs 2018 indicates that they have been planning something for DBC. We live in hope.
Quite possibly that famous 'Anand' tweet was just JM's idea of a wizard wheeze anyway. Who knows? Only 2 or 3 more trading days till cancellation RNS it seems. I wonder how much has been spent/squandered on un"due diligence" and other expenses/salaries in the last few months for FA? How long will they be able to delay the EGM/Wind up/cash back if nothing is forthcoming? Place your bets.
Not sure how they cannot release an RNS today? Whatever the outcome it's a fundamental change? Independent indeed, but then AIM is a joke when it comes to that rule.
I'd rate the chances of an announcement tomorrow re the loan as less than 50%. Anand's real life independence would seem rather unconvincing if he is tweeting from Mellon's twitter a/c at 3.25 am, he will likely just do what he is told imo. If whatever was coming here was going to be well rec'd likely we would have heard already. Although it is possible JM wanted to get the Regent Accounts away whilst it was still faintly plausible to maintain an RTO was on the table. All in all reasons for optimism are not exactly thick on the ground currently.
Due back to us + interest tomorrow. Surely cannot drift into next week??
Started: cattleman, 29 Mar 2017 08:58
Last post: cattleman, 29 Mar 2017 08:58
Has treated us all in a disgusting way...would never touch any company he is involved with ever again...shud hang his head in shamei
Started: sldmr, 28 Mar 2017 17:53
Last post: Tillerman, 28 Mar 2017 19:18
Interesting thanks, I see that is from results dated today, but the transaction seems very much in question now, as the requisite deadline re an EGM to approve it prior to potential delisting appears to have been missed. In the case of a delisting LIFE is obliged to call a different EGM to offer cash back to its shareholders. Few LIFE shareholders have much if any enthusiasm for the DBC I think it is fair to say, except as an alternative possibly marginally better than nothing. The $17 million valuation given to the DBC in the RP accts is extremely speculative imo, to put it politely
Hi this is an extract from RP's results statement thought it might be of interest. After the further subscription of GBP 1 million (or approximately US$1.45 million) in Diabetic Boot, the Company notes that, on 6 October 2016, Alternative Investment Market (“AIM”) listed Life Science Developments Limited (“LIFE”) (LON:LIFE) announced that it had signed a non- binding term sheet to acquire Diabetic Boot for new shares in LIFE without any specific valuation being revealed. No further announcement has been made by LIFE and the Company understands that the acquisition remains subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the AIM Rules and that there is no guarantee that all such matters can or will be completed. The Company further notes that the acquisition would, if completed, amount to: (i) a connected or related party transaction of LIFE, given the cross interests of James Mellon; as well as: (ii) a reverse takeover of LIFE under the AIM Rules. Should a binding offer for Diabetic Boot materialise, the Company will assess the merits of the transaction at that time, together with any HK Listing Rules implications it may have in accepting or participating in such transaction.
Started: saintpeter7, 27 Mar 2017 01:33
Last post: Tillerman, 28 Mar 2017 17:41
Longevity companies are in the news today I see, topically enough. Http://www.nzherald.co.nz/lifestyle/news/article.cfm?c_id=6&objectid=11827118 i suspect we may all need this kind of treatment if want to live long enough to see any return on investment here.
As JM was talking about investing in longevity, perhaps even at this stage, LIFE will be investing in one of those companies he listed at the Master Investor Show rather than DBC. Unlikely I know, but ...... We live in hope.
Yes, I assumed it meant transaction. I guess he felt he couldn't say more, but I did laugh at the picture you conjured up in our minds of JM stopping MA in his tracks. even at 3.25 am!
Yes, I think you have nailed it. A Transaction, Tequila Slammer and a Terrible Idea all at the same time must be the worry. 50% of their funds invested in the DBC on laughable terms would be pretty dire for example, and far too possible.
I must admit that made me laugh. T in my view meant transaction. Could have been tequila slammer??
Started: kezzman, 24 Mar 2017 20:54
Last post: kezzman, 24 Mar 2017 20:54
Mellon you ****
Started: Tillerman, 23 Mar 2017 19:12
Last post: Ant1986, 24 Mar 2017 13:48
You'd be mad to allow this to carry on unlisted. Cash back is the only route. Perspective - joins the BOD - does cock all for nearly a year - day we get delisted he finds his own asset then fails to RTO. Britain's smartest investor. He screwed over speymill s/h too. MASTER INVESTOR this weekend.
I think whether they become investment company (and presumably raise more cash at some point), which could well involve some kind of DBC investment as part of the parcel, depends on whose idea it was to kill the DBC RTO, if it was JM's then perhaps no problem. if Anand got cold feet relations between the board could well be chilly, which could explain the lack of comms and mean just the return of cash option was realistically on the table. There must be some reason for the lack of guidance from LIFE itself, and a face saving, salary extending silence might well be it. I can't imagine that anyone would now vote to allow the board more time as an unlisted co to find investments, unless they can supply very cogent inducements indeed.
Or acquire some of the £2m convertible loan notes that I understand were created in December.
Well researched Tillerman. Should have checked that myself. Perhaps all is not lost and I was interested to read this part:- The proposed investments may be in either quoted or unquoted companies; and may be in companies, partnerships, earn-in joint ventures, debt or other loan structures, joint ventures or direct or indirect interests in companies, assets or projects. In particular 'debt or other loan structures'. Could that mean that they could lend DBC LIFE's cash, more so than they have already, and that be treated as an investment, or acquire a certain number of shares in DBC with its cash instead of reversing DBC into LIFE at this time? That would seem to give more time for DBC to be ready for reversing at a later date.
"The Company is now classified under the AIM Rules as an Investing Company and has adopted the Investing Policy as set out in Appendix 1 to this Announcement. Under the AIM Rules, the Company is required to make an acquisition or acquisitions which constitute a reverse takeover under the AIM Rules or otherwise implement its Investing Policy within twelve months of the General Meeting, failing which, the Company's Ordinary Shares would then be suspended from trading on AIM. If the Company's Investing Policy has not been implemented or it has been unable to make an acquisition or acquisitions which constitute a reverse takeover under the AIM Rules within 18 months of the General Meeting the admission to trading on AIM of the Company's Ordinary Shares will be cancelled and the Directors will convene a general meeting of the Shareholders to consider whether to continue seeking investment opportunities or to wind up the Company and distribute any surplus cash back to Shareholders. " http://uk.advfn.com/stock-market/london/life-science-de-LIFE/share-news/Copper-Development-Corporation-Result-of-Meeting/68759494 So perhaps not quite so bad as feared. The could still just make one or more investments it seems as long as it's by 5/4, if not they will call a meeting to discusss returning funds.
Started: Tillerman, 23 Mar 2017 12:50
Last post: Tillerman, 23 Mar 2017 18:37
The link below details the rule changes that came in shortly after LIFE became an investment shell in 2015. It seems LIFE was a doubly attractive proposition thereafter, given the reduced requirements prevailing until Dec 2015. They may well have squandered that, though there is just maybe still the possibility of becoming an investment co. The 20 day delisting notice requirement looks like red herring in the event of mandatory cancellation, though it is hard to get a definitive reference, while the word "normally" appears before cancelled in regarding AIM rule 41 after 6 months supension. There is no reference to extensions though. http://www.nabarro.com/insight/briefings/2015/december/changes-to-the-aim-rules-affecting-investing-companies/
Can you cite a precedent re extension of suspension? I cannot find one, but only had a quick look. Also it is not clear if 20 days notice applies to involuntary cancellation for infrigment of AIM rules, already already flagged as a possibility if no RTO in the Oct RNS, as opposed to voluntary delisting (where it definitely does, you won't be able to delist without it). See also link below which does not mention extensions. There might be one or two other things they could do such as investing at least 50% of their assets somewhere, not sure. I wouldn't hold my breath. Http://www.investorschronicle.co.uk/2011/09/08/your-money/you-re-suspended-wAcfAyKqDVQIxvIGG7A3eO/article.html
I think we are bracing ourselves. You are correct, the nomad should enforce a 20 day notice and in its absense does give some hope.
I could be wrong but can they not extend the suspension through an application to the aim market? I am very surprised we haven't had a delisting rns? As surely this is mandatory for all aim company's
If it gets delisted I think an EGM would be best (if possible) to remove the BOD and return whatever is left. If it comes to this, it will be the worst outcome for me since trading.