Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Lost here £86k
Its gone mate will never see lse again
Any news on this? Has the company been liquidated and wound up at this stage.
The indication is that there has been no progress in raising additional sums and now that Crypto has cooled off it seems less likely that there will a renaissance. The fact that some former directors were willing to walk away from the monies owed to them the portents don't look good. The company tried and failed to launch an ICO for the UBERTOKEN but it failed to sell in large enough amounts. The costs of launching a rights issue for an unlisted company aren't particularly attractive. As yet no major white knight has come along to replace the Aussie who previously offered to come up with AUS 250.000, and in the end, he only came up with AUS 50.000 so it's languishing.
Anyone know whats happening with this? Take it we not going to see anything here ever again and monies are lost.
There is no specific correlation between BTC and UBECOIN, even though, had it been trading, I suspect it would have drifted up. Nevertheless, there is a definite backdrop of bullishness towards crypto in general, although whether this enthusiasm has permeated itself to Australia, where UBE CORP is headquartered is not known? Even so, amongst the projects that are traded on the crypto exchanges, many are "early-stage ATLTS" and a lot more work needs to be done to get these schemes to be viable. Bitcoin will also need to develop its infrastructure, although its community is more established than most. Whether the current directors of UBECORP are entrepreneurial enough to get this UBECOIN project re-started is not however known, so we must await developments/fundraising efforts. Free trade barter however is looking a little dated right now and this will need to be revamped and re-launched with thousands of merchants before it can be a success. Let's wait and see.
bitcoin flying and ubecoin dying
where do you get your info from taxibabe are you in touch with the BOD's or major shareholders
The outlook for BTC/ETH and a select group of ALT/DEFI coins is indeed rosy but one must remember that there are thousands of ALT coins that never actually take off. Many of these languish on numerous exchanges with derisory volumes, and little interest until the exchanges themselves either have an "exit scam" or get hacked. For a coin to become popular it must have something unique. an active development team, and preferably, in today's increasingly hostile regulatory environment, not be a "privacy coin" Free Trade Barter/Ube coin did not have the market penetration, to become popular, although an alternative marketing strategy and improved tech it might work at some stage in the future. The game plan is to appeal to professional investors and get some backing at some stage for further marketing and development. Its hoped, that some of the legacy issues have been resolved, that the company can resurrect itself whilst the crypto theme remains popular and cash in on this opportunity. Good for the directors, good for the token holders, and good for the investors/and future investors.
With the uptake looking good going forward for bitcoin and any alternatives like ube its a shame it never got of the ground the investment they need is chump change to a investor with big pockets willing to take the risk so it makes me think there will never be any news even as a rto the red tape involved to make it so in the uk again will likely be a mind fff
I cant see that happening per se that small shareholders will willy nilly give the company a 100 dollars at the present time. But a cornerstone investor, or a couple of cornerstone investors, might be found to come up with the cash provided progress can be made on the issues of former and current director liabilities, and a clear cut product/marketing strategy. At present from what I gather the directors are working on these twin issues but its a case of a chicken an egg situation at present. Without more cash there can't be progress, but without some kind of clear cut transparency as to where the cash is going to go no one will invest. After all, no-one wants to put up money only to see it funneled away to pay existing and unquantified liabilities, or out the door in more salaries for no particular purpose. The directors should put some of their own money where their mouth is and forgo salaries until the RTO so that investors can have confidence that this is just not more talk, of which, I have to say there has been enough.
This is the situation as I last spoke with Andrew. I will be speaking again next week but do not expect any change. The company needs money to continue. It does not need a lot of money to turn it around. $200k would do it. That is where the red tape comes in. $200k is approximately $100 per shareholder. But the company is not allowed to ask the shareholders for the money. It would cost maybe $400k to get the paperwork to a point that they could ask the shareholders and then there would be still major hurdles stopping the fund raising. Some shareholders are out out the UK some out of Aus. That is double the paperwork.
The company may be stymied from asking the shareholders, but there is nothing to prevent the shareholders from getting together and raising the equivalent of $100 per shareholder and then going to the company and saying "let's save this".
The Management team are attempting to relist at some stage but first, of course, more funding needs to be secured. A previous backer put up 50.000 AUD but then reneaged on the 200.000 AUD tranche. This left the company with a cash crisis and as such they need to raise the shortfall from elsewhere. So far, at any rate, the y appear to have been unsuccessful, as the company has creditors that have to be dealt with before an interested investor will divvy up extra funds. The other problem is that whilst the UBO-COIN technology was once proprietary ,it has become dated as time as marched on and so the coin itself will need to be revamped, as will the flawed marketing strategy; the good news is that the technology to do this can be bought off the shelf which is relatively easy to do, and the directors are on board with the need to launch the coin and devise alternative marketing arrangements. Given the renewed interest in cryto assets, I don't think its totally dead, merely in a state of advanced hibernation.
is this another B R SHETTY scandal, I would not rule out, first they failed to appoint a nomad in 2017 than they failed to relist the company in sept/Sept quarter in 2018 than they're pure report stated the company to be relist in June 2019 they've failed to deliver what they've said, I think the bod are incompetent, they don't have a clue what to do with the company. IMHO we all have to forget about getting anything from this company.
If you read up on Melissa Sturgess you will see she was here as a director and also a Executive Chairman for Ubecorp Ltd from what I have seen every company she has been involved in has been fck over by eiter her closing it or going private she is CEO of Ananda Development Plc if you take the time to research her you will she she is a cash and crab type this is what I fear what happened here this company like I have always said is dead unless there is a RTO...
Thanks for the info guy's, I will put this in the bottom draw bin along with some others.
No news on any front and no price indication for the underying asset UBE TOKENS. Seems to me that they tried last year to get a couple of ICO's away on a couple of small exchanges and failed, and since then talk of commercialisation and deals with other companies has died down. The basic problem is finding a NOMAD to list on the LSE is going to be difficult, and there is no appetite for Crypto companies on the ASX. The 50.000 dollars they got last year, has, I am sure, long since been spent. so I guess its dead.
this is dead and buried, I don't think this will ever come going to be relist, game over.
No and with the rise of SPAC IPO's we are dead and buried and as i've always said unless we get a sniff of a rto were done
Anybody heard anything lately. Beton2?.
Take it this is now dead or has a miracle happened?
In this current market nothing is happening anywhere. I have spoken to the former Chairman. He gave me nothing to cheer me up. I will follow up later next week.
I have the view that a miracle is needed in this current climate. As such I am viewing this in that manner and putting a line in the sand. I am going into protection mode for my family.
I am also trying to picture the new normal on the other side of this pandemic. This will be a costly exercise in life, in social values and economics. Whatever the cost, it will be borne by all and come as less disposable income. Which in turn is a lower standard of living. Luxuries will be fewer and or the appeal of overseas travel will be less.
This has been a sudden reality check for all. It will not just start up as if nothing happened. It will start slow and cautious and will have to grow organically.
How are we doing with any info on how things are progressing or not
Well like I have said in many messages all repeat it ..this share is dead unless investors invest and thus believe in it
It’s only other options are to keep it afloat on the bare bones minimum and have it ready for all that’s left and that is another RTO.
Unless the uk side are allowed to invest series cash it’s never going to re list
I have not given up yet although I am really concerned now. I should be meeting with the former chairman of UBE on Tuesday (he is a large shareholder in our salt deal and should attend). I will see what he has to offer.