Member Info for andyarob

BOD`s out

17 million to 7million

All depends on how many plp could be botherd to vote

Jason Drummond assured us that the Teather's Financial 2015 annual report would look better than some folks feared HERE. But having signed it off, he has now quit (HERE) and having seen it I am not so sure. You can read the report HERE The key point is that while Drummond can bost total assets of £949,243 once one removes trade payables then net assets fall to just £799,619. It gets worse. That assumes that receivables can be converted into cash but they are often prepayments so really cannot be so it would be prudent to knock another £111,612 off the number. Then we have the £100,000 invested in unlisted Kentucky Oil & Gas in late 2014. That would be kind of hard to realise and a prudent audit may well have seen it written down big time. I am prudent so I knock that off the realisable value. Then there are intangible assets, in other words the cash cost of developing the app - £208,900. Drummond reckons the app is valuable and could be sold for more than that. Others are far less sure. But a sale may not happen quickly. If so that leaves assets which could be turned into cash - in a best case scenario - of £479,845 and up to £20,000 of that is shares in Lenigas Cuba. Of that £135,845 is cash. What we do not know is how the cash and liquid assets poistion has changed since the year end. Drummond says it is prettyu much unchanged - partly becuase the directors who earned £150,000 in 2015 plus £52,500 in bonuses ( bonuses for what FFS?) took nothing since Christmas. But it is unlikely to be higher. So, assuming that the new board get paid a bit, that there may be pay-off costs for former directors ( not Drummond who says he wont take a cent) and the - material - costs of winding the business up and distributing what is left will anyone get rich? I doubt it. I reckon you are looking at a distribution of - if you are lucky - £300,000 plus what the app is sold for. The EGM on Tuesday looks like being a heated affair. - See more at: http://www.*************.com/views/21728/exclusive-here-is-teathers-financial-report-and-it-looksmixed#sthash.CFP4dX4v.dpuf

Jason Drummond ‏@jkd7477 10m10 minutes ago @Ben_Turney @************* as Inventor of Teathers App, I'll work with the TEA Directors after Tuesday to get best result for shareholders View conversation 1 retweet 0 likes Reply Retweeted 1 Like More

Good Afternoon all, We would like to invite all shareholders to meet with the board and discuss the concerns that have been raised. We will make relevant documents available to view at the meeting. Hopefully many shareholders will attend the meeting before the EGM so the board can show shareholders they have acted correctly throughout and in the best interest of the company. The meeting will be 11am 22nd June 2016 : Venue: Peterhouse Corporate Finance - 3, New Liverpool House, 15 Eldon St, London EC2M 7LD Please put onto the forum on our behalf. Shareholders only event RSVP to Of@teathers.com

We will if the concert party have anything to do with it .

ago they did a fund raise https://t.co/fMrRbz9xfB

like we have a seller

Good job it was`nt your bank details john ;)

Anyway, moving to the present, the update that was promised by the end of February finally arrived yesterday. So what did it say? The date by which Teathers has to implement its investment policy or leave AIM is 4 June and Teathers reiterated that the Board considers it unlikely that it will be able to implement the investment policy via its portfolio of investments by then, which leaves the possibility of an RTO. Apparently, “It is currently in discussions with a potential takeover target that the board believes offers synergies with Teathers Financial Software Limited ('TFSL'), the Teathers investee company that owns the Teathers app.” We’ll see but I wouldn’t bank on it. The more worrying aspect was the detail about life as an unquoted company as apparently it has found an investor willing to invest £1 million to support the growth of the TFSL app. In my view, that investor must be short of the odd marble or two but even if that did happen, I can’t believe that the £1 million investment would be at a great valuation and so there would be significant dilution for existing shareholders. Let alone the fact that the shareholders are now locked in to a private company with limited information going forward. The standard off-market dealing facility is mentioned as is the case for all companies being thrown off AIM but good luck with that. In my view, investors would be better off if they just liquidated all the assets and handed everything out to shareholders, at least they would get something that way. If I was an investor here, I would be furious; I’m pretty livid just writing about the litany of nonsense. Jason Drummond and Oli Fattal should be embarrassed and at least have the decency to provide a bit more information about how they got themselves into such a mess, but why should they bother I guess, they can just move on to the next thing as they’ve hardly lost out financially here. Well, at least I trust that they won’t find it quite so easy to raise money for their next pie-in-the-sky opportunity. - See more at: http://www.*************.com/views/20168/teathers-financial-a-pitiful-rns-brings-this-sorry-tale-towards-a-close#sthash.gbpA6idl.dpuf

Teathers Financial (TEA) has been a shocking stock for a long time now for a whole number of reasons but yesterday’s RNS appears to bring the finishing line of this debacle ever closer. I’m not a fan of subscale investment companies at the best of times but this one seems to have ticked all the boxes. Dreadful use of investors’ funds – Teathers invested in a whole host of random quoted companies, most of which I could invest in myself, if I was mad enough to, although the majority of them are underwater. The few that made money were sold – cutting profits early and letting losses run was always a great investment policy! The two investments that deserve special mention were the £100,000 in the ridiculous Lenigas Cuba, and £100,000 in unquoted Kentucky Oil and Gas – never to be heard of again. I can only imagine that someone’s back was being scratched with that second one. The full results for Teathers should be out by the end of the month so at least one will be able to get a clearer view of the balance sheet and the net asset position to better assess the investment debacle. Failure to implement investment policy – despite the numerous investments, the company was suddenly suspended on 4 December 2015, without any prior warning to investors, for failing to implement its investment policy successfully within 12 months. When the business was being ramped left, right and centre in September 2015, which coincidentally allowed a few warrant holders to get out, it was surprising that there was no mention of this potential impending suspension. It’s never been totally clear as to how it failed to implement its investment policy, although my personal view is that it is linked to TFSL, the app, which is owned 100% by Teathers and has had significant investment internally rather than being an investment in an external third-party company; not that it really matters now. TFSL – talking of which, the Teathers app aimed at giving PIs access to placings and IPOs and ramped to high heavens has been a huge disappointment with only one broker, Shard Capital, signed up and only a handful of placings and IPOs undertaken. Poor communication from the Board throughout, particularly since suspension. The fact that Oli Fattal seemed to think that Twitter was the best form of communicating with shareholders was pretty bad, particularly as hardly anything he mentioned appeared to be factually correct, although at least he poked his head above the parapet from time to time unlike Jason Drummond who hasn’t been seen in months. Anyway, moving to the present, the update that was promised by the end of February finally arrived yesterday. So what did it say? The date by which Teathers has to implement its investment policy or leave AIM is 4 June and Teathers reiterated that the Board considers it unlikely that it will be able to implement the investment policy via its p

27jakerhodes = 139,205 stupot = 157771 crazy janey =15411 xcanarus = 600,000 JR2910 = 15,198 Boilerboy = 500,267 Haywain = 411,905 Shiningstar1 = 201,775 Milliano = 79,887 Louis_Winthorp = 11,376 RG33 = 645,000 Hey windom = 451,969 shares andyarob =157,000

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=TEA&ArticleCode=wlfyeyez&ArticleHeadline=Update

No point going if there is FA to promote

We are still waiting for the update end of Feb .So who knows what he means by the "After the holidays" might be their holidays not Easter.

Dont think its anything to do with been a start up company.Its to do with the BOD,s cking up the investment policy

Oliver Fattal ‏@olifattal 1 min1 minute ago Act on information not on hearsay. Suspended period allows a company to sort itself out.Allow us to do that. Info will come we listen to U!

all the post gone?

Just tweeted about the rns