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I’m hoping for a full fca investigation into what has has happened here and I have a legal team pursuing of investors have been misled or defrauded out of their money through this absolute con job of a scam. Scott mcgregor needs to be audited and Investigated immediately and he should have a lengthy ban from any sort of business role again if guilty.
Yes oldfool a repost , and no not crap. I and thousands of other investors including institutional feel this is now akin to fraud. Yes he was out of his depth but giving out fake rns’s which have transpired to be lie after lie is the issue here. So if he pinned everything on the German deal why give an rns out stating its all good still and will underpin red for the next 3 years . FRAUD. Plain and simple. FAKE. LIES. Have a heart for me then as I’ve still got money in here . What a horror situation the stuff knightmares are made from.
You actually reposting the crap posted on ADVFN by the Morons? This is nothing more than a CEO out of his depth who chanced Red's whole fortune on the German deal which got delayed. No conspiracy, no fraud, just an average saleman out of his depth and getting it completely wrong.
Whether this ever gets out of suspension I really do not care as the money lost on this has been made up elsewhere, but have a heart for those that have lost a whole lot more.
Fraud investigation failure10 Apr '19
Victims of fraud are being let down by the police, according to a damning new report from Her Majesty’s Inspectorate of Constabulary and Fire and Rescue Services (HMICFRS).
HMICFRS warns that ‘inconsistent’ policing across England and Wales is leaving members of the public at risk of scams. However, the report acknowledges that police forces have a number of competing priorities.
HM Inspector Matt Parr says: “One officer told us that fraud does not ‘bang, bleed or shout’ and, as a result, it is not considered a priority. Nonetheless, people are more likely to be victims of fraud than any other crime.”
He continues: “The current model of local investigations supported by national functions is the right one. But processes need to be much more efficient, and performance must be managed to provide the best possible service that available resources will allow.
"We did find examples of local investigators providing victims with excellent service, but they are hampered by the lack of government or national policing strategies for tackling fraud.
"This has profound implications in how forces understand roles and responsibilities, how the public is protected from fraud and how victims of fraud are treated by police forces.”
Of the 11 police forces inspected only four were able to provide evidence of the demand placed on them by fraud. Staff often felt it was their duty to reduce demand on the force, with cases being dropped despite strong evidence for the crime.
Mr Parr adds: “While we acknowledge the pressures on the police service, this simply cannot be acceptable. So we are calling on the police service to make a choice.
"Either continue with the current inconsistent approach, which puts members of the public at a high risk of becoming victims of crime or look at ways to improve that will start to make a difference.”
In particular the report says forces need stronger strategic leadership to tackle fraud, without which fraudsters will continue to act with impunity and victims will feel increasingly disillusioned.
Commenting on the report, Gareth Shaw, head of money at Which? says: “Fraud can have long-lasting and devastating consequences for victims, so it should be a top priority for the government and authorities – but our research has shown that fewer than one in 20 cases reported to Action Fraud is being solved.
"Too often, victims are left feeling abandoned and confused as investigations drag on with little sign of progress.
“To show they are serious about winning the battle against increasingly sophisticated fraudsters, the government, police and banking industry must establish a more coordinated approach and make scams a top priority.”
And made millions in the process.
Struggling to see how this firm could stop trading immediately? There's thousands of companies trading at huge losses much bigger then red's? So how come the horror rns in March suggested that would be it lights out ? I just don't understand how they've come to that conclusion the info on companies house is completely contradictory to what there saying will happen or happen next. It looks more like it is there decision just to pull the plug and start again. Which may be the case due to all the fraudulent like rns's and info scott gave out. It's almost like it was his play thing for a few years just to get the intelligence and contacts for the machines then go his own way. Very brave man, you play with fire and all that.
Shareholders should be aware that unless the Minimum Amount is raised… could result in the Company being unable to trade.” This was followed by a £millions fund raise to pay Scott and his friends salaries. They did nothing and have not sold anything. They have all had long holidays abroad with our money they have simply dished out to themselves. Six months later… with nothing sold and no new orders/interests announced… 27th September 2019 RNS: “…cash will run out in December 2019. Unless additional funding is obtained by December, the Group would have no option but to cease trading.” This actually is starting to smell something akin to fraud.
If taken at face value looks OK, but I struggle to believe it. Each individual delay is understandable, Anglian site prep issues, german regulator getting involved etc. but together it's not a great picture, and trust is diminishing(ed).
Show us a picture of the anglian machine if it's built and ready to ship.
How can you say that?! There's lorryloads of jam round the next 3 corners....
If you believe a word of it. But how can we?
Old scotty loves a Friday late rns to try and hide stuff don't he. He can't be allowed to get away with this.
Sales = 0. Just pathetic, tragic, and hopeless. Worst then that there are no words to describe scott and his fictitious buisness. It surely now is bordering on fraudulent operations. How can he release all this hoax rns's when nothing has transpired he should be arrested.
From the RNS
"redT and Avalon have received substantial preliminary support for this fundraising from a strong, new strategic investor that intends to make a cornerstone investment in the merged business,"
I, along with many others, got burnt by a cornerstone investor whilst in AMC (still there). If the words Black-Scholes are mentioned then this becomes bargepole territory.
What's happening/happened to the showroom in Wokingham, Surrey? I believe it was meant to be a show centre of some sort and obviously being in surrey woking would be a very expensive piece of estate. We're red renting the premesis or did they own it? Its still listed on there website as demonstration and development site.
Details of the likely opportunities in the states for battery storage!
May not be Trumps area of interest, but big business can certainly see the financial benefits!
https://www.fool.com/amp/investing/2019/09/21/why-corporate-america-loves-energy-storage.aspx
As for the temporary suspension!
News, any news, would be really helpful!
PC
And here we are stuck in a limbo where the product would show many...........how they could delete coal power for good !!!
Still don’t think all is lost, taking that the presentation by Anglian Water wouldn’t be going ahead if they had any financial doubts about the project!!
PC
Rosewall - there are some relevant articles on energy storage here:-
https://www.thebushveldperspective.com/blog/public-articles-1/post/energy-storage-europe-2019-414
https://www.thebushveldperspective.com/blog/public-articles-1/post/energy-storage-europe-2019-415
https://www.thebushveldperspective.com/blog/public-articles-1/post/energy-storage-europe-2019-416
Not sure whether this signifies much, but both RedT and Scott M have been twittering from"Solar & Storage Live" in Birmingham. In Scott's case it was a tweet about a presentation by Anglian Water about their flow machine pilot. Maybe RedT aren't totally dead yet...
GRID – Gresham House Energy Storage Fund - seems a good idea, but doesn't seem to have got on with it at present. Usual advice on this. It's not a recommendation just a steer. :o)
Glad to say I came out of this 18 months ago, because I needed to raise some cash, and never got back in.
But I do think the way management has behaved needs investigating.
Of course you are right. I forgot that although they produce vanadium they have ventured into the energy storage market
Bushveld Minerals, ticker is BMN
I was going to get back in but the shares were suspended. Are there any other UK listed companies who focus on energy storage?
"Trading on AIM for the under-mentioned securities has been temporarily suspended from 25/07/2019 7:30am, pending an announcement and publication of an admission document."
Well it's now been seven weeks "temporary" suspension waiting for an admission document. Does anyone believe this merger is going to happen?
I wait to be pleasantly surprised, in the interim my previous opinion stands. This will drift on to November, they will go bust and the "assets" pre-packed for a song. Lehman Brothers and the hope of Barclays riding to the rescue springs to mind - why pay over the odds for something you know is going to fail when you can pick it up for peanuts after the event?
mjb606 I think mentally writing this off is the best thing you can do. Even with current Vanadium prices being very supportive of VRFB where are the sales? Would you buy a proprietary VRFB with an expected 20-30 year life from a company on the verge of bankruptcy?
Investors have been continually shafted by management.
I too am still around (intermittently). However, I think that I have mentally written off my entire RedT investment (not hard to do when 85% down), so anything more than a zero return would be a pleasant surprise!
Pinecone . It is a strange position to be for me.RED is now a pure play flow battery company that now has an apparent growth in potential sales opportunities compared to when I invested 3.5 years ago but a share price 7 percent of its peak under the RED share ticker. I guess the hope of those big sales by the investors in the short term are pretty well dashed and share price (before suspension) suggested few people believe it is a bankable proposition. The merger or reverse takeover wants the shareholders to stump up another 24 MILLION ponds or so . I think that is about the total of all the open offers and placing s in the last 3 1/2 years. The Vanadium price is at a lower and stable ? price. The intermittent renewables current and planned growth on the grid in the UK looks like it needs higher carbon spinning reserve or pumped hydro/ batteries to act as a belt and braces back up for grid power station failures. Radio silence for over a month from the company. The cash runs out in November . On my cynical days I wonder whether management will wind up the company and consider buying what remains for next to nothing.