Member Info for Bennster

"As a connected company, any income DC takes will be published and audited under LVCG. There is no benefit for him personally to set this up as it is. "

My whole point is that there IS... he can use this mechanism to pay himself. Even if he has to declare it or not is no skin off his nose, he gets the money, which is a clear benefit.... but as Simples says KPOP LUX is a private Ltd company so no detail will be required in the LVCG accounts.

There is no way I will communicate with the company - they either won't respond or they will just squirt cider in my ear like they do to everyone who has a direct hotline.
I haven't ruled out the "tax" or liability explanations by the way - all I'm doing is pointing out he has us over a legal barrel

I did Knigel.

I posted here moths ago I had seen over 20 associated appointments. In a response to you ironically.

I am, NOT accusing DC of anything illegal.

I am trying to explain that this LEGAL mechanism allows DC to take a big return on these events and leave us with nothing AGAIN. There's a difference between Illegal and immoral in my eyes. I think this stinks.

MB10 - you are annoying me now. Try reading this properly:

I am not talking about "as the chairman of lvcg all payments to him in any shape or form including related related transaction have to be declared"
I agree with that.
DC is the director of a PRIVATE LTD COMPANY "KPOP LUX LTD".
The new events will send their revenues and costs to that PRIVATE LTD COMPANY "KPOP LUX LTD". DC can legally pay himself all his expenses and a salary as director of PRIVATE LTD COMPANY "KPOP LUX LTD".
The remaining residual profit then goes to the owner LVCG (us) - the bit he has to declare.

We finally agree on something.

"He really does know how to play a room doesn't he."

He also does a grand job in private messages and videos

and how much revenue comes to us Knigel?
PROFITS is what we need.

No MB10 - you are willfully not representing the situation

KPOP LUX is a registered Ltd company - NOT just a division of LVCG. The law around Ltd companies allows DC as it's director to pay himself a salary before residual profits are attributed to the owner LVCG. There is a legal and open opportunity here for DC to use KPOP LUX to cover the costs of the event including paying himself, before anything gets to LVCG.
I'm not accusing anybody of anything illegal - it's all above board. The issue is it means no gravy (or reduced gravy) for us. Try to understand.

Simple - that's a convincing option.
Unfortunately what I say holds true - as a Ltd company KPOP LUX can now pay back to DC whatever it wants in costs as its Director - as long as the shareholder agrees, oh and that's LVCG which DC controls....
We can't stop this from happening and I have no faith anymore. You are all grown ups so make your own choice but see the world for what it is here.

Knigel - I'm not negative unless that's a consequence of being a realist.
I am getting out of here as soon as I see an exit point and like Suedee will let you know.
I have no faith in DC or his convoluted company structures. The affair around StartArt - the big profit he made for himself selling to himself and then knocking the price down under pressure says it all for me.
The loss in 2022 after all the hype and the cancelled events, missed promises for detail and brokers notes are all the icing on the poo cake.

I have already checked Companies House and a couple of months ago I found over 20 entities he's a director of... there's a long list with names similar to Formula E too, so it'll happen again with South Africa.
It's a 2 minute Google search for Companies House on Gov.uk - feel free.

You’re right of course, but I hate to think of even one soul getting sucked in…..
Posters are already back telling us BRH will solve covid with the amazing CX300 because there’s cases in China. Go figure!

Suedee5 - I respect your honesty. It's not easy to say that and it's not nice to feel that way about your investment - I know!
I'm heavily in here and still undecided if now is the time to accept my losses or just "bottom drawer" this for a better exit point.

For all I know Mr Miller is mates with DC and another drain on our dwindling resources.
I'll consider him an asset if we start (finally and for once) making a bottom line profit.

dear god. who's paying you rors08
Check their website, check the last 12 months share price and RNS activity.
Try to give me any kind of rationale for that post.
Ramp central

You can get pelters on this message board for not being positive all the time, but this RNS is about the 15th in the last 12 months that has deflated the SP. Why? Because we have to face the reality of an overmighty Chairman who treats this company like a lifestyle company with a faded brochure in the window.
DC has made a fortune in the last 12 months here - what have the rest of us got? A shareholders loss and 2.71p a share indeed...... It's very hard not to get angry at the AIM and being led up the garden path.
God, I wish I'd sold at 12p back in May when the hype was in full swing - stupidly held a belief in a target SP. You live and learn.

AGM in the garage with Bill and Ted.
I heard they passed resolution 4a and added Pineapple.

Not exactly a sold out Wembley for Queen or U2....

So the summary:
we have £1.95M of balance sheet value - a share of AFN which has reduced in value and enough cash to cover another year.
We have 2.5 million Umbria tokens which are valued at £NIL, but have a current sale value of $1.50 each, so in theory might have been ascribed $3.75M in the books, but weren't because of the crypto volatility and issues with the wider crypto market/future.
We're burning through £1M a year including paying "directors" £100k each and for some reason a bonus of £20k too.... all from a revenue of £100k.

As it is so sweetly put in the opening blurb - you're either a skeptic or a believer. The current SP really does say it all for now.

When does "looking busy inside the gallery" convert into shareholder returns?
Asking for a friend seeing as you got so many recommendations :-)

Please understand - TB doesn't need to buy shares to make money just on the price.
Shares are a means to control - he's been buying because we gave him a bloody nose 6 months ago when he asked for permission to issue shares like confetti and we said NO.
Now he has bought enough shares to ensure that doesn't happen again.

He put the vote though again after buying more shares and got a YES - now he's using OUR BRH money to buy what he fancies.
It's got NOTHING to do with him trying to get an extra 0.5p on the value of each share.