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"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?
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
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....
What you say could make sense RB, but there's a part of me that asks "who?"
Before suspension you could mop this us at 2.05p a share and that was before the debacle of the O2....
Why would anybody suddenly pay over the odds? The MCAP at suspension was almost exactly NBV from the last results.
On this particular matter I believe Tinitin is correct Knigel.
I believe DC won't be losing out - he'll exercise a claim on LVCG's remaining assets for monies owed (Startart as an example) and unclaimed fees etc.
What will be left for SH's is minimal to nil, but he's never relied on the shares having any value - their value was that they gave him control over the assets.
"he's certainly selling something"
Is he? Is he really? I firmly believe if he's selling something he's selling us a dummy, selling us down the river...
Seriously, look at the smoke he's blown up our fundaments since August.
If that fella told me the sun was coming up tomorrow i'd be running off to the met office to check.
The balance sheet from the old accounts gives you a big clue - after that valuation some more sets were sold in the last 12 months. There is also a loan secured against their value which you have to take into account.
At suspension I think LVCG's market cap wasn't far away from it's book value. The losses associated with London and ongoing admin costs can only harm it from that point on.
Happy for somebody who wants to quote the precise figures to enlighten us on that general summary
Interesting Eddie - I always thought Friday was when you buried bad news - you release good news on a Monday so the market can lap it up all week?
At the moment I'd rather take any news on any day than this mess of course.....