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Dave73, that's just it YJ have been on this BB to confirm that those payments were being made. I suspect nothing more formal can be said as there is now a proper investigation taking place.

Exactly Mole,

Pre-selling does happen and have experienced it woth other stocks. But it's always been with the agreement of the respective company (for example, to begin to offload placing shares). But YA had no right to be selling shares that they were not authorised right to, as you rightly point out, regardless of whether a payment had been made or not.

YA's activities/ practices here blows open for everyone to see their practices more widely. The entire thing is dirty. Like trying to make money out of thin air, this. The loopholes and reluctance of authorities allowing market abuse to be rampant, in my view. Those inside and who get to make the system abusing their privileged status.

Lets see.

Thanks for that Ferring48 and agreed! :-))

Excellent work Madpunter!

They been shorting this for a while and got caught out by the NDA RNS.

His tweet from around 4th September read:

"As mentioned to me yesterday. FRR trying to pull the wool like BPC did. I wonder if that potential JV is even real. Makes me wonder if companies make this up, or pay a company to do that then get a ramp up in share price. same with GGP before. Hardly any of these work out."

Just seen a tweet by WShak (@WShak1) from 4th Sept, questioning whether our 'potential JV is even real'.

He's been gunning for FRR since then and, along with others, likely shorting from before. Clearly the NDA RNS caught them out and there's been an orchestrated effort to reign the situation back in.

Sinister goings on have been reported since the cancelled trades, which were brought to the attention of the authorities. So the authorities have known that summat was up. But clearly ZM has the confidence to press with this, meaning that he isn't in a weakened position but a confident one,.

bedex, you raise a good point about the flow rates needing to be in the public domain, specifically need to know. But it could easily be that those majors are at a sensitive/critical stage of their due diligence and want that information withheld while they work towards a deal (for example, if the flow rates are really good, it brings it all to the attention of competitors).

If in due course - and hopefully soon - the JV/farm-out/in is confirmed, then all this is easily forgiven. Naturally, though, the information we have always seems just a little short of what we need to confidently move forward.

StarRage, exactly, deliberate and fraudulent.

Madpunter, appreciating your theory and posts, keep em coming

If this FRR, then we are off to the races and this YA palaver will be history.

Also, we need to remember that ZM has already said that the extended testing programme is generating revenue, enough to cover operational costs and to service that £265K monthly debt repayment (listen from 15:05 - published 28th July, 2018).

https://www.youtube.com/watch?v=6wlp-nZl3C0&t=940s

Key passage in the CODERED's post (taken from the respective RNS):

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"The Company and YA have now agreed that the redemption of the remaining 2,891 Series A shares will take place over 12-month period, on a monthly basis, for which the Company will be making cash redemption payments to YA of US$265,000 per month. Once so redeemed, the Series A shares will be cancelled. The Company has also the right to convert redeemable Series A shares into ordinary shares, at its option. The Company will also have the right to pay down in cash the entire redemption amount for the outstanding number of Series A shares at any point."

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This places the emphasis on FRR to decide how it proceeds.

What is 'Naked Shorting'

Naked shorting is the illegal practice of short selling shares that have not been affirmatively determined to exist. Ordinarily, traders must borrow a stock, or determine that it can be borrowed, before they sell it short. But naked shorting continues to happen because of loopholes in rules and discrepancies between paper and electronic trading systems.

https://www.investopedia.com/terms/n/nakedshorting.asp

If they've been naked shorting then that's illegal. They may well have done this if they sold unauthorised shares.

Indeed Zibrahamovich, we've been driven to these levels by the shorting. It should be illegal to short the companies your funding. Dirty insider activities that everyone knows goes and is simply allowed cos they've got money. Seems that YA got caught short and then tried to recover the situation by pulling a fast one.

Pivotal

Any kind of naked Shottisham should be illegal. It's unethical and correct to create a false market udujg ahares that don't exist - and is illegal generally buy clearly MMs are allowed, though shouldn't be. Corrupted-ness on a systemic level

They're not adjudicating and is not what I said. They would not agree to that RNS unless there WERE sufficient grounds. Best not put words in folks mouths/ posts

They're not adjudicating and is not what I said. They would not agree to that RNS unless there sufficient grounds.