Just to recap, rent/rates/svce £67 per aquare foot per annum
Pedal? Hahaha Oh Star
Yes, I tried to access his Instagram page but no luck. I wanted to have another look at the pic he posted last year looking tired with the caption "Been working really hard at the office" I fancied a belly laugh..... Those serviced offices on Kings Road Chelsea, rent, rates and service charge are, ready for this?, £67 per square foot per year. The boy knows how to spend your money
Poor old Star.............................. Remember five months ago you said 'Tea will be the Star of Aim 2015 H2? 'Won't be long before the SP doubles or trebles Trust Me' No wonder you're bitter and angry - good job we didn't trust you
Tweeted on 20th Feb 'I want the board to update this week. I believe that is highly likely' Needless to say no RNS today. This week has come and gone. There are only three members of the board, Nilash, JD and Oliver Fattal. Nilesh, of course, is the part time finance director and doesn't have much to do being as there have been precious few sales in the past six months. The effective board consists of the other two. In recent times Oliver Fattal has been quick to tell everyone that he is 'just a non executive director' Let us be clear, there is no legal distinction between an executive and a so called non executive director. They both have the same legal duties and responsibilities. On 23rd March Oliver Fattal will have been a director of Sperati/Teathers for FIVE years. During those five years the company has had total sales of about £400,000 (£395,000 buttons and £5,000 app) and has lost (I estimate) £1,500,000. He saw fit to have a private meeting to brief two supportive shareholders this week, clearly unconcerned about how this looks to everybody else. The man is not fit for purpose and must go before he does any more damage.
The KOG investment was a disgrace. Taking 100k of shareholders money and simply giving it to a friend. You probably dont recall because its too boring really but they were so desperate to give this money to Dave Parlons that they made a LOAN before they were able to but the shares (which the loan was converted into). I wish the aslickers who saw him yesterday had asked challenging questions like this rather than brown nosing for an hour
Smugger than smug
I"m with him too but inevitably Okenia, the man they couldn"t silence, the man who elevated smugness to an art form, will post some meaningless pr dross here tomorrow.
No its only for brown nosers and those who" ve done their Bolleaux on Chal
This is the same Okenia who had a meeting with JD in December last year and ramped the shares for all he was worth over the following two days. Four days later, after those in the know sold and those pulled in by Okenia bought, the shares were suspended. Even after this he was eagerly quoting JD as 'it just needs us to sell a few shares and rewrite the investment policy'. Well that wasnt the case was it? If Oli isnt going to tell you anything then why are you seeing him? I look forward to reading some PR dross tomorrow
Darren, its clear you are not profit responsible in the business you work in or you would not have such a laid back attitude. At Tea, rent, rates, wages, telephone, myriad advisors etc have to be paid every month. Where is that money coming from at present? Why, from funds which people have invested, of course, because no significant cash is being generated. People who have invested are perfectly entitled to ask what the hell is going on as their hard earned is disappearing down the drain in overhead burn.
My analysis runs thus: On a relatively straightforward IPO a broker can expect to earn 5% on average. A £20,000 deal would therefore generate £1,000. Of this, using JD's own figures, Tea earn '15% to 30%. Between £300 and £600 for such a deal. Teathers also charge an undisclosed maintenance fee for the app though I suspect Shard do not pay this as they helped develop the app in the first place. I cant be bothered to add up what has gone through the app but I genuinely believe the income generated cannot be more than £5,000 in total. It just cant be. This represents just over one months salary for Oliver Fattal I refer you to Oliver's Q & A session on this website where he states that there are no new brokers on the horizon. Shard say on their website that the app is only suitable for small transactions. If only Shard are using the app and then only for certain small transactions what does the future hold for Tea?
How can you possibly say TFSL is making good operational progress. There is no evidence for this whatsoever. Please don't patronise us by telling us who is an executive or non executive of Tea PLC or Teathers. We know this already. You refer to 'all the placings going through'. What, six in four months? If you think this is a good achievement you set the bar of executive performance very low. Finally, how can you say these 'attacks' are unbecoming when you did the exact same thing in a twitter post to Oliver - what hypocrisy
An Israeli bringing home the bacon?
If he updated it someone would moan 'why the fool is he p155ing about with the app when he should be sorting new deals out" Updating the website takes about an hour per week. The Annual Return about 15 minutes. Personally I judge companies on their websites and, whilst obviously not an ideal measure by any means, it shows to me that they are proud of their product. Twitter IS an unprofessional medium for important announcements but not for day to day positive gloss which, while we might not believe all of it, at least shows work is going on. BoilerBoy is right, if Oliver has lost the desire for the fight then pass the baton to someone else to have a crack at it. Plenty of young IT thrusters out there would love to take this on. No disrespect Darren, but don't you think people are entitled to complain after all that has gone on?
Just been on the Teathers App website again and watched Oliver in action being interviewed by Tops TV. This was in October last year. He posted two other stories in October but nothing has been added since. This, together with his failure to file a Company Return leads me to believe he has given up on TFSL. When you sell a car you usually wash it first. When you advertise your house for sale it is normal to spruce it up before viewing. The principal bargaining point that Teathers have in whatever negotiations are going on is the value of TFSL and the app. I don't see Oliver doing anything at present to promote this value. In my opinion he should be putting his shoulder behind the wheel and create a positive feeling around the app. Interviews, positive tweets, - at least keeping the website and company records up to date. He is a paid a full time salary by TFSL and should be putting in the hard miles, particularly at this crucial juncture. He has to go back to the brokers he has seen and offer deals, discounts - anything to keep the momentum going. The prevailing sentiment is one of failure - a death spiral that he needs to turn around and soon.
Company formed 2013, changed name to Gametech (UK) Ltd last November and raised cash from private investors. Owns financial apps just like Teathers and is of course run by Jason Drummond. In January this year a new company was formed; Gametech PLC. Not a change of name, an entirely new company. The word is Gametech needs more cash and an RTO on the cheap into Teathers is any easy route to AIM. Expect a **** poor offer for your shares in the next few weeks - you heard it first from Beer
Okenia - the man they couldn't silence....
You are not being ignorant, Dougal66, I am afraid does not know what he is talking about in this or most other issues. I am sure that eventually Oliver Fattal will deal with it BUT the notice will now forever be a part of their company records. It would weigh against them if they sought FCA approval, for example. If you cant get this right how can you be trusted on more serious issues of corporate governance? His response to Billytim is strange too. I would have thought he might have said 'Thanks, its an oversight we will get on to it right away' Just to say 'Its nothing to worry about is weird'. He is running the major part of a quoted PLC with many concerned shareholders not a second hand car dealership
Consider these RTO negotiations, on the one side you have what is laughingly referred to as a 'target" and on the other Tea, a company falling apart in 4 months time. Who holds the upper hand in these discussions? #teasittingtarget