Member Info for Bennster

Good thinking ASI

Thanks

Time is running out for us to relist Jimmy - that's a finite deadline. 3 weeks and it's already over.

If we do delist then chasing money that's already gone could be very difficult, especially if we SH's are not coordinated - although I agree we can still try after the damage is done...

I understand not wanting to pull the trigger before we know, but we have to think about all options now.

I will check out telegram

Just worth bearing in mind that should we NOT get an RNS and relisting in the next 7 working days, this message board will disappear (probably immediately) so if there's any connections or contacts still to be made among SH's now is the time. After a delist this MB won't be here to use I would suggest.....

What we already know Euston

Knigel - if you'll give me just 3p a share I'll walk to your house to finalise the deal...

Well, if we accept what you say (and I don't trust anything he's alleged to have said)...

It still means things must be absolutely dire - he's already a creditor (StartArt, fees etc) so for him to have had to pump in unsecured cash tells you everything about the performance and cashflow state of the company. Any auditor would pick up on that.....

If he's pumped in cash on a secured basis, then his grip becomes too strong and we're cooked.

There's a process required to deliberately allow delisting.

Remember the suspension wasn't agreed or asked for by shareholders - it was mandatory because and only because the accounts have not been submitted.

Hence my logic below.

IF and I mean IF DC has handed over cash to LVCG then we all know he's desperate to keep it alive.... which almost certainly means the new auditors ain't happy.

Let's just test out the process?

If the accounts are signed off by the auditors then LVCG have a duty to publish before delisting - otherwise they must be in breach of their duties to us. To knowingly allow delisting without the EGM process etc.

If the accounts are not signed off then after all this time that can only be because the auditors are unhappy this is a going concern

Given the latest RNS it's clear this company is in a real mess. I therefore have to conclude the latter.

Nobody, and I mean NOBODY wants to buy shares in this at 4p, 3p, even 2p.

The total book value of LVCG at suspension was about the same as it's market cap - almost exactly £5.3M

Since then more costs have racked up and what about income?

And to whom do LVCG owe money?

If you came down from Mars this morning would you invest in any PLC that cancels events, loses money, has no cash, needs an unsecured loan from the chairman during 6 months of suspension because it can't file it's accounts on time?

Lets face it Guzzler is spot on here - why do you even engage with this guy? He whispers more sweet nothings and suddenly there's hope?

I can see LVCG being debt free, but only if there's an equity issue of seismic proportions (you know who will be buying) which then leads to a compulsory buyout offer at a silly low price. - or a dilution that results in the same.

His missus has resigned (September), The senior NED (Stephen Birrell) took up a full time role elsewhere in November.

Still no meaningful RNS.

When is the last market opening day?

I'm assuming Friday 29th is D-Day... unless anyone can canfirm?

Fair enough Sue - nobody here has the right answer yet that's for sure!

Sorry if it came across as a dig at you.

Another painful week closer to the cliff edge is not making me happy!

"benefit of the doubt". A fascinating concept.

I prefer "Trust is hard won and easily lost". We all know where DC stands on that score.

I will NOT give a man who allows 5 months of suspension, cancelled concerts, self satisfying deals for StartArt, exorbitant "consulting fees" (the list just goes on and on) any benefit of the doubt.

Right now the only thing that can rescue us and save any reputation for this particular CEO is solid news in RNS format that re-lists LVCG and offers a solid way forward.

Whispers in ears of amazing news do not wash for me and shouldn't for any rational human being. Proof of the pudding comes only with action not words.

We are still waiting for that though aren't we?

ASI - correct.

We've been here before with this - many many many many times before.

Proper news is RNS. The rest is pillow talk

Seconded. Good luck Euston.

Lots of valid points and notes here so far since the RNS.

Just don't read too much into DC's responses.... they can't be taken as solid. They could well be a combination of fudge, procrastination and legal arms length responses. If there were any hard revelations they would have been in the RNS where they belong.

In the mean time I too feel that sinking feeling having digested the "news" - happy to support those with energy still to fight though.

True Rio - but by then I was way past letting that snake oil salesman influence me - I was past even listening to him TBH.

The frustration was topping up after Frankfurt 22 in good faith....

Anyway - we must probably suffer yet another week ticking by if nothing RNS worthy materialises tomorrow

I appreciate my meagre holding is much more insignificant after 12 months of dilutions and issues, I only have about 0.25% of LVCG but is a lot for me.

If it helps in any way I'd definitely add my small voice.

No, you are entitled to keep saying it because you're spot on Jimmy.

Some of us got dog's abuse for being upset at this piece of manoeuvring, back when it first happened.

DC and mates made a decision to use OUR money as shareholders to buy some brass buttons off him and Ranjit for £££millions.

There has never been any justification for the valuation that satisfies me. DC has his claim against our remaining assets now though. He will get every penny he can scrape out of LVCG before the drips fall to us.

"Bl alone is worth over£20m don’t forget ip "

I'm not having a go - we're all in the same boat Tintin - but please justify this statement on the back of the following:

It was purchased for less than half that

It's balance sheet valuation is less than half that

It has secured loans against it

It runs at an operating loss

It's important we get to the bottom of "actual facts" as our departed evangelist would say....

You too sir.

The brokers note wasn't independent - we've done that one already Knigel.

I genuinely would consider it a miracle to get my 2.05p back now.