Nah, he’s still trying to do it using ChatGPT to write the code..
Think it came from that source of all wisdom.. some random bloke posting on twitter
I caught the ‘interviews’ for the final five on the Apprentice last week, hilarious. I’d pay good money to see Amit trying to bluster his way out of a one to one with Lord Sugar.
..As I’ve posted before in reply to you, of course wrongdoing in any sphere that resulted in a conviction would potentially impact holding a FCA credential - but that doesn’t mean it is the job of the FCA to investigate or prosecute.
If you sleep better by believing that every single activity an individual undertakes within the separate legal entities they are connected to automatically comes under the regulatory and legislative regimes that variously attach to individual enterprises then my apologies for troubling you with my understanding.
Unless you can directly link SB corporate into the Cloudtag saga, the FCA registration for that entity is completely irrelevant to activity conducted in connection with Cloudtag. I gave a personal example of how a product I held with a wholly owned subsidiary of Nationwide BS was completely outside of FCA protection despite NBS being FCA regulated. Can’t post any link as it will be behind a paywall, but last Sunday’s Sunday Telegraph had an article about Newcastle BS members being totally abandoned by them and the FCA over an associated party who were introduced by them and put assets in trusts which later involved huge losses - the setting up of the trusts was not under FCA protection. There was a quote along the lines of the FCA having a very narrow focus on what was strictly within its remit - which is difficult to actually argue with. It would need legislation changes to put those activities within the FCA remit.
HL don’t own those shares as such, they’re the aggregated pi holdings. When all’s said and done they are execution only brokers, will hold the shares and carry out Corporate Actions (if given the information and money!) and that’s as far as it goes.
I’m not sure that FCA regulation would be needed for Amit to have sold further shares to existing shareholders in his private company (post Aim delist).
Amit owned another UK business that undertook regulated activities for which registration was needed and previously held. The only connection I can definitely see between Cloudtag and FCA registration would be a criminal offence committed in connection with the former would have put the latter in jeopardy, but so then so would a conviction for a private matter. And it seems that Amit himself no longer wants/needs the registration.
I have had mortgages from a wholly owned subsidiary of Nationwide Building Society (TMW). Nationwide building society is FCA registered. My mortgages weren’t covered by FCA protections as they were written as contracts outside of the scope of the registration. Others who were obtaining mortgages from Nationwide to let their property on what would be termed a ‘non business’ basis (such as letting to a relative or being a so called accidental landlord) would be covered.
*Software as a service
Is the licensing deal SaaS? I thought subscription as a service was typically something consumer focussed such as a monthly Netflix. A production company may have a licensing deal with Netflix for a lump sum consideration allowing their content to be available for a certain period of time.
The way I understood it was the Onitor device was to be sold but consumers would be expected to sign up on a subscription to get the full use of the associated features.
Whispering, look at the supposed deal values in relation to the mcap of a company like J&J. And again, it would be up to those running the private company to inform their private shareholders (which to be fair you can’t accuse Amit of failing to do).
…And if Tesco, for example, had a policy of stocking local produce, it could end up with a relatively small local outfit such as the Limited Company butchers as a regional supplier but would be very unlikely to RNS that - it would be immaterial in the scheme of things to Tesco holders and a private matter for the family business shareholders.
As a general point so as not to upset anyone, it is necessary to look at the status of the individual companies involved. Cloudtag Inc is a private company not trading on any market, not dissimilar to a father and son butchers if it was incorporated. A large public company is covered by market rules and also what is written in the Articles. The directors are empowered to do a lot of things (as would be the case with Cloudtag under its articles). Certainly with a UK company the activities it is allowed to undertake in the course of trade are set out (have a look on Companies House for examples). Anything outside of that would mean the company would be acting ‘Ultra Vires’ (basically outside its legal remit).
You were posting as I was typing the same Steelbru.
A listed company wouldn’t necessarily have to make a regulatory announcement imo. If they had a mcap in the tens of billions, buying in something at the level here in the normal course of business isn’t particularly market sensitive info needed to be communicated. Neither would a new product launch unless a significant game changed re the financials. (Just facts and moot in relation to Cloudtag imv).
Any other strict NDA in the history of gagging orders turned into a thrice weekly soap opera, including a special bank holiday episode? There is purportedly a serious player to be revealed and have ultimately have their name associated with this absolute shambles. Just doesn’t stack up along with many other things.
I was part of a European road trip ten years or so back, including a brand new Aston V12 and Ferrari California. The motor that got most attention along the way was a dog rough 1980s Vauxhall convertible, rebadged from ‘Cavalier’ to ‘Chavalier’ (and no, it wasn’t mine).
It doesn’t always need £££ to enjoy life, just as well if you’re waiting on this to conclude..
I thank goodness there will be enough new or decent used petrols to see my driving days out.
1984, you know the W12 engine is discontinued from this month? From the way the clown is messing about you’ll be on the list for a 2035 Bentley EV..
9:58, seriously Hubba? Thought you were at least partially grounded.