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Go to Teathers twitter page for updates, not working here
Ben Turney @Ben_Turney · Oct 8 4 page proposal sent to #SER & #TEA shareholders. Please contact **************************** for a copy. Positive #ShareholderActivism ****************************
Ben Turney @Ben_Turney · Oct 8 4 page proposal sent to #SER & #TEA shareholders. Please contact **************************** for a copy. Positive #ShareholderActivism
Sefton is in same if not worse boat than us yet there's plenty of posts on the ser page why is there so little post here especially when there's so much going on with both companies possibly going to be run by the same people.
I see our BOD are trying to take over Sefton,let's hope they don't neglect this one.
Is there going to be some sort of connection between Tea & Ser ?
Oliver Fattal has a new position at GIO Capital
I do feel like a mug - the abject lies coming from the board in a public forum in the lead up to a suspension when they knew what was coming is disgusting - No wonder Drummond seemed to have so many enemies on this forum: I now understand why.
My share certificates arrived yesterday. Was interesting to see on the certificate that the transaction to close the purchase of the shares occurred February 2016!! Which indicates my broker either sold me the shares short or they were sold short shares when I purchased?? (And would also indicate that there were those in the know last year, raking in from us mug punters??)
Hi This email is to the Teathers public email list. Please treat it as public information and share across social media so all shareholders are aware of this communication. Further to my email last month we have now set up the new email address for Teathers' shareholders. The new email address is shareholders@teathers.com. We will use this email address in future to communicate privately with Teathers' shareholders and to seek direct consultation on the future direction of the company. To join this list please send a photo, scan or screenshot of your share certificate, which includes your holding and your name, to shareholders@teathers.com. Some people do not want or are unable to get their stock in certificated form. If this is the case please just send a screenshot of your shares in your brokerage account and electronic copy of a proof of ID to shareholders@teathers.com. So long as you hold Teathers shares and we can identify you we will include you in the new list. However, please be advised if you do not have your shares in certificated form you might not be able to vote at the forthcoming AGM. Now that Teathers is unlisted it is unclear whether or not brokers will process votes for the AGM. To guarantee you can vote in the AGM, which we will announce the date of shortly, you need your shares in certificated form so you can register your vote directly with the company registrar. We will provide full details of this when we announce the AGM. If you have sent copies of your ID and shareholding already to this email list, please still follow the instructions above. We need all responses in one place to make managing the process easier. We will continue to provide occasional public updates as to our progress in turning Teathers around and will publish these in a blog on the Teathers website. We will provide details of this soon. Thank you ----- TEA Shareholders Group
Teaholders @TEAshareholders LAST DAY If you invest in #AIM stocks have you ever participated in a placement? Please re-tweet. Help relaunch @teathersapp And go to Teaholders @TEAshareholders site and vote New @teathersapp will include function to allow clients to put money directly into their @ShardCapital accounts. Major problem solved! #TEA The @teathersapp is scheduled to relaunch in mid-October. @ShardCapital is a superb partner to work with. Confidence inspiring. #TEA The lads are doing us proud here ATB
Teaholders @TEAshareholders If you invest in #AIM stocks have you ever participated in a placement? Please re-tweet. Help relaunch @teathersapp And go to Teaholders @TEAshareholders site and vote IF you've read this and going to vote recommend below for others to follow
Teaholders @TEAshareholders · 3h3 hours ago If you invest in #AIM stocks have you ever participated in a placement? Please re-tweet. Help relaunch @teathersapp And go to Teaholders @TEAshareholders site and vote Recent tweets Ben Turney @Ben_Turney · 4h4 hours ago New @teathersapp will include function to allow clients to put money directly into their @ShardCapital accounts. Major problem solved! #TEA Ben Turney @Ben_Turney · Sep 7 The @teathersapp is scheduled to relaunch in mid-October. @ShardCapital is a superb partner to work with. Confidence inspiring. #TEA The lads doing a great job here ATB
Hi This message is to the public email list of Teathers shareholders. Please feel free to share its contents across social media so other shareholders who are not signed up to this list are kept informed. We have some positive news. Last Friday I met with Shard and had a very productive few hours with them. We spent the first half of the meeting confirming the details of the specification for the relaunch of the App. We spent the second half of the meeting discussing commercialising the App. I walked away from the meeting with Shard feeling more positive about the App than I have throughout this process. Shard and Teathers have reached agreement on a number of items including the specification for the App, a protocol for marketing the App (I'll share more details once I have had time to think through the ideas and put them on paper), confirmation of a number of operational processes and a new financial deal to help ensure Teathers can afford to launch the App. I proposed to Shard that Teathers would keep the first £32,000 of revenue generated by the App to help us cover the costs we have been quoted for development. In my previous email I said our budget is £40,000, but that includes a contingency in the event of any unforeseen issues. I am very pleased to say that Shard has kindly agreed to this new revenue arrangement. Shard didn't have to agree to this and it bodes well for our working relationship that they've allowed this change of terms. We will revert to the original agreement after Teathers has recouped the £32,000. As previously mentioned in a previous email we aren't going to reveal the precise terms of the agreement to preserve commercial confidentiality, but suffice it to say David, Stuart and I are happy with the terms. At the very least, under the new arrangement we have managed the company's risk well. Separately we have reached terms with a number of Teathers' creditors and have secured some significant savings on the company's outstanding liabilities. There were a number of very large liabilities, which were not on the company's balance sheet which Nilesh Jagatia gave us in early July. We also remain in discussion with the former directors and hope to have some movement there next week. We will provide full details of this in the report we have promised. Since they are going well, we have decided to complete the various discussions with creditors prior to issuing the report. With respect to the App, Tactu has started the Parse migration and will move straight onto the development of the new features once this is complete. At this stage we are one course to relaunch the App in the middle of October. There is a lot to prepare for this and my next update will include information about our plans for marketing the App. We have a number of ideas that play to our strengths and experience, which we believe could prove to be effective in the market.
Sorry to say this but the app is a simplistic piece of junk that generated no money whatsoever. £1,000 didn't even cover the cost of paying the PR company to notify shareholders about the placings. A further £40,000 would absolutely be throwing good money after bad. Why doesn't Drummond buy the app if it is so good? Hard to say and do, I know, but cut the losses, hope what investments are left come good and above all, pursue Drummond and Fattal for their criminal mismanagement of this company.
there were a number of investments which should have some value, I am particulary interested in the 50k in Octaganal (OCT). OCT are on the move now and could possibly earn TEA circa 500-750k profit within a year. OCT BOD are buying now and I have always felt that is some connection here. The previous FD here is on the OCT board. I want to know if this investment is still secure?? Plus questions on other TEA investments
No other choice, imo. Getting 0.15 back is a non-starter, for me anyway. Nothing left to lose:(
Think the BOD had to sell off a number of the investments to pay creditors so who knows what we have - BOD have stated estimated share value 0.15p (albeit total guess work) therefore total assets approx 100K. I suspect that most of the investments have been sold. So much for the share prophets exclusive that heads up Drummonds twitter page - "drummond says that accounts will be far better than critics say" wonder if that was a TEA sponsored report?
Talking of investments do we still have San leon?
Having run or worked at a high level in several tech cos I don't think £300k to develop the app sounds extortionate. And I doubt reading the updates that £300k spent developing the company's flagship investment is either here nor there, from the sounds of it. Sounds like the bulk of shareholders cash has gone elsewhere - lossy investments, emoluments, etc must surely have dwarfed the £300k spent on software development?
The best part is we are still tied to them to keep the app running. Hilarious. Unfortunately, that to me is the best option. Shard (and others) would then have to assist in the marketing effort. The concept works.
So far Tea under the stewardship of Drummond and Fattal have managed to turn the 20K I invested into £300/0 and have made an earth shattering £1000 on the placings and IPO's through the app which cost approx. 300k to develop- I think the business model worked very well for Drummond and Fattal who have essentially asset stripped the button company and used their own companies to develop the app at an exorbitant fee whilst paying themselves massive wages all at the expense of the PI whilst telling us they were creating a level playing field for the PI - you couldn't make this shit up - well done JD & OF for your absolutely astonishing lack of morality.. beggars belief.
to shareholders. I must stress that this is a preliminary estimate. The App generated just over £1,000 worth of revenue across the six deals that were initially offered through it. There is a lot of scope for improvement, especially in the marketing of the App. If the App is going to work commercially it will need to deliver a far better return than this, but the early revenue is an indicator of at least some demand in the market. The relaunched App will be stripped of unnecessary features such as portfolios and live prices. To include these features would incur >£16,000 a year in license costs for data feeds. Since we do not need these to prove whether or not the concept works commercially we feel it is best to save this cost. If the App is a success and we get feedback that these features would add value to the offering we can re-implement them in the future. If we go ahead with the development of the App we would aim to relaunch it by the end of October. As directors of the company David, Stuart and I need to make the final decision whether or not to continue with the App, but we wanted to consult with the people signed up to this list before we took any action. To be clear this is not a formal shareholder vote, it is just a consultation, but we would welcome feedback please as to whether or not you think Teathers should seek to relaunch the App. If you have any questions please send them back to us. We will compile all questions and answers into a single a email and send it to this group. Please get back to us as soon as you can. Thank you, Ben ----- TEA Shareholders Group
Hi This email is to the public Teathers email list. Please share its contents across social media so other shareholders can be kept informed. We've reached a crucial decision point with Teathers and the App and now request that shareholders provide feedback before we take any action. After discussions with Shard and Jason Drummond's company Tactu Applico, which has done the development work on the App to date, we've received final quotes for the remaining development required to relaunch the App. In short it will cost about £40,000 to relaunch the App. So far Teathers has spent >£200,000 on direct development of the App and we estimate about another £150,000 on App-related costs, not including historical board remuneration. We will provide more information about this in the report we provide. When David, Stuart and I joined the company our remit was to deliver a report to shareholders and put alternative courses of actions to a vote. So far this has not been possible because of the unacceptable delays we've encountered with Natwest. Additionally we've found: 1) Several of Teathers' creditors launched legal actions to recover outstanding balances the company owed 2) The database which has been used for the App (Parse) is due to shut down, meaning the App requires a new database to be implemented by 28 September this year to remain functional. All this has meant David, Stuart and I have spent far more time on Teathers than we initially anticipated and also that we've not been able to stick to our original delivery schedule. We've had to work extremely hard just to save the company and we're confident we've acted quickly enough in the best interests of the business. We haven't made a final decision as to whether or not we believe Teathers should continue to pursue the App. We are going to discuss this at a board meeting, but in the meantime welcome your feedback and suggestions. Before you provide these please be aware of the following: If we do not relaunch the App now it is highly unlikely Teathers will ever be able to relaunch the App and there will be no residual value left in it. We have explored the possibility of employing a different development firm to do the final development for the App, but with the Parse migration deadline just over a month away we believe that changing supplier at this stage would present an unacceptable risk. Financially Teathers is not in a good state, but we believe the company can afford to spend the £40,000 on relaunching the App while remaining solvent. So far we have had productive negotiations with a number of the company's creditors and have made some significant savings. We will provide more details about this in the report, but the reality is if we wind the company up at this stage and return funds to shareholders we do not anticipate being able to return more than 0.15p per share to sha
I have my certificates for my 65,550 shares in TEA. What do I do now?