The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
08:22. Yes, that aspect is completely overlooked with all the ‘who is whom and why are the posting’ and of course the focus on trying to make sense of the endless delay announcements.
My twopennorth; The original focus was on a physical product, the Onitor, for what ever reason that reached the end of the road - whether as a commercial proposition or a vehicle for Amit to raise funds.
The shift then was to IP and what seemed to me rather generic and vague business imperatives. Yes, obesity is a huge problem and remote monitoring and integration of data is a huge opportunity for freeing up hospital beds for some patients. In other words, just like ‘the climate emergency’ it is hot stuff. To my mind there is no IP or App that can bring about massive weight loss. As anyone knows who has tried to lose a bit of weight, not consuming the calories is key, about 4 hours jogging to burn off the effects of a pizza. Any App would require laboriously entering the exact weight and calorie content of the foodstuffs eaten - begs the question of a laminated card reminding the user what not to eat would be far simpler and cheaper. I also remember Amit talking about ‘energy expansion’ in an early update. I don’t think such a thing has occurred since the Big Bang?
I was not entirely convinced by the Onitor (and have no interest personally in using wearable tech) but thought it could be significant - based on what Amit claimed. That became the issue. Apart from identifying a problem, there was nothing whatsoever to my mind in the post Onitor direction of the company that actually convinced me there was anything tangible being done. Anyway, back to waiting for another deadline and questions as to why I’d want to post here.
Mainly in residential property REITs now as selling out of actual bricks and mortar. They are deadly dull and the LSE chatboards can go weeks without any posts. My ‘specialist subject’ is the clown show running the country for the past 13 years destroying the private rental sector with their endless tinkering and heavy handed tax regime.
Trombone, I don’t see London and South East complaining about those posting on their chat board under their rules. You’re free to filter or set up a closed social media group if you don’t like others opinions. Yes, I don’t currently hold but held prior to de-list but as you well know holding isn’t a requirement to post. I try to post respectfully and what you consider trolling is a genuinely held opinion. I have opinions on many things I don’t hold a financial stake in and post far more (under my own name) on ‘The Telegraph’ comments and other media websites.
Having been involved with the company as a shareholder, and sold on the basis of lack of faith I will continue to post here if I wish. Whilst engaging with those holding, and usually disagreeing, I’m sure Amit will look in on this board and am more than happy to give him my feedback on his achievements to date. If you can’t see the interest here in what is a one off situation then that’s your problem, I’ve been in business and property investment for decades and come across many chancers and bs merchants over the years but semi retired at 43 (a long time ago now) and comfortably set up now so have time for many different threads in my life.
I will be very surprised if there is a return here, but I wish you (and other holders) good luck in getting one, it will make no difference what anyone posts here and I am happy to be proved wrong.
The ‘strict NDA’ is actually another red flag to me. If it really was such we wouldn’t have this blow by blow account which is highly detrimental to the reputation of the ‘buyer’ (imo).
About time the positives spoke for themselves Helx, just one, even minor, external corroboration of any of the extensive claims Amit has made would be enough.
‘Unless Amit is a complete narcissist’
Showing all the signs
My bookshelves have got them all, South Sea Bubble, Tulipmania, Charles Ponzi, Berni Madoff, Asil Nadir.. I’d suggest to some on here that don’t want to listen to some anonymous ‘negative’ posters - read them yourself to at least give yourself a chance!
Spikey 17:45, pretty much a given imo, that’s why I didn’t include that profile (and DelMonti) in my ‘focus group’ comment.
Antha, you’re spot on there. Like in politics across all parties, Helx, hubba and havegun are the ‘focus group’ for how to play it..
If someone lent their shares out before delist, the current situation is perhaps not a binary outcome for them. If the company was just dead and buried they would be in the same boat as any other shareholder - wiped out.
What has occurred creates a potential value of 22p attaching to each share according to the company, but not any certainty that it will materialise. The lender of the shares has the opportunity to offer the borrower (short seller) a price to walk away from their potential obligation. The lender may be just as sceptical as anyone else about the $275m so instead of a binary 0 or 22p can name a price anywhere in between (just as the likes of DelMonti can name a price to become the beneficial owner of shares).
People continually ask why this is continuing - I would hope Amit is not connected to lending out shares in his own company and there is no evidence of any wrongdoing, but then again there is not much evidence of anything. Again, I stress this is not an accusation but manipulation of an expectation of a payout even if it didn’t materialise could give a lender of shares an opportunity for gain in the meantime.
Today's Cloudtag news: Amit moves website to a host offering a £10 per month deal..
Perhaps give Amit a price for his holding? Most likely the best deal he will get..
Judging by the supposed contract that allows the ‘buyer’ to take the proverbial ad Infinitum, Amit didn’t get that last £10k to draw up something watertight..
Only the licensing deal cash is supposedly in escrow - as others have said (and to paraphrase), that could be chicken ****. As far as I’m aware there is no way to verify money in an escrow account unless the parties release details, which is not the case here. Agreed it doesn’t make sense but if that were a measure of control over individuals actions, the courts and prisons would be empty.
Is it worth a re-read of past announcements though? I’d certainly agree an archive of information, which is grounded and referenced by external markers is well worth the effort to gain an understanding of something. There is a danger here that confirmation bias comes into play, the ever expanding numbers of announcements are not balanced by any external evidence and they only make sense if the reinvention of Cloudtag down this IP route was genuine from the off. If the announcements are not genuine, we don’t know what the end game is - but, and it’s a big but, the number and content of the announcements within the last year don’t ‘prove’ anything. Not saying it is what happened, but if the end game is a narrative of ‘well I did a great job but the buyer has reneged on the done deal’, if you look at the announcements it would be impossible to prove they were not all written out in advance many months ago as they don’t reference a single verifiable external point of reference and it becomes more and more unbelievable that a serious player would be messing about over ‘announcing’ something that wasn’t locked down in a contract and that a ‘strict’ NDA would allow Amit to give a blow by blow account of it.
Any announcement is saying ‘Yes we’re the bunch of clowns who can’t organise a **** up in a brewery and the NDA we signed was so loose it’s allowed a bloke who can’t actually write a two sentence update that anyone actually understands with certainty, to give a running commentary on it over the best part of a year’. And if it’s in any way a regulatory announcement, we all now now price sensitive information has been sat on for months..
No doubt you will provide some entertainment along the way DelMonti, perhaps the third (or is it fourth?) heads up that it will happen sooner than the ‘official’ timeline and some wise words about the value of correct punctuation and grammar in evaluating the worth of any posts on an anonymous chat board (whilst ignoring the howlers in the last Cloudtag update).
Cindy, perhaps the so called announcement is not a regulatory one? Google tells me J&J has a m cap of $378bn. If they buy something in for $275m as part of a product/project it is just normal everyday business in the scheme of things. Does Tesco RNS every time they add or drop a supplier?
My take for what it’s worth, is that it is more the so called buyers marketing or a product launch requirements that Amit is referring to.
You’ve bought the sizzle (Amit’s speciality). Genuinely hope you get the sausages tomorrow..
It was very much a ‘done deal’ (all processes are complete etc) before it seemed to be downgraded to this buyer being committed status. Is the ‘buyer’ contractually obliged to complete the sale deal? That is the pertinent question to which there is still no answer.