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Hopefully everyone that signed up to the Alliance has received their first email now but if you haven't check your email junk folder
Noticed the Proactive Investors interview from Feb 20 is now blocked from public viewing although the other interviews done since then are still viewable. From memory this was the one where Andrew Scott grilled him on the share selling.
"18/2/20- Bidstack Group PLC's (LON:BIDS) James Draper introduces the business to Proactive London's Andrew Scott to discuss the firm's 2019 trading update as well as the outlook for the in-game advertising technology space. Draper says a big focus for them in the year ahead will be on education helping investors on what to look out for and when. ''There'll be a new wave of titles coming out from around June onwards and we want to be in a position to capitalise on them to make some serious revenue''. ''It's all about making sure we do the right things in the first few months of this year to ensure we're ready to spend our already locked down trade agreement cash on the right sort of inventory for our customers"
I have read it and my opinions remain the same I'm afraid, it all stinks. Main takes outs for me were Hilco's valuation on the IP at only 10K, no way of knowing how much detail was included in the teaser document , the rushed element to the whole thing, the (ridiculously high ) cash burn of the company, no details of how the 3 mil from Azerion seems to have just been vaporised almost instantly
So maybe A&M should be sharing some liability in this disgraceful act too
Imagine if you worked as an insolvency practitioner for a globally renowned professional services provider that's known for asking tough questions, listening well, digging in and rolling up it's sleeves and notable for their turnaround management and you were fooled into thinking the best you could get for a company's assets was 80k on Facebook marketplace ? An offer of 800k would seem like your lucky day. Well done boys. Wouldn't want to be in your shoes at your next pay review
I feel the Directors have set an appalling example with their conduct. Their reputations must surely now be in tatters ? The authorities should deal with this swiftly and robustly before it has implications to the wider market. You simply cannot have a situation where every other AIM company looks at this and thinks it's ok to build out their offering on the public market and then engineer a situation where it is taken away at the appropriate moment for the rewards to be enjoyed by a select few private individuals without repercussions. Everyone would stop investing and the market would ultimately collapse. This could have implications for everyone whether you were a Bidstack shareholder at the point of admin or not. There is opportunity for anyone to share any information on the bidstackshareholders.org site.
Just did a bit of googling on sports rights holders ESG policy and came upon the following:
Very few organisations within the sport sector understand that they are brands and then appreciate that their value largely comprises intangible assets and therefore how that value is now linked to ESG
“In relation to such values, sports brands are frequently disconnected from pure revenue-based valuation models and are impacted by scarcity in supply and so-called ‘trophy’ factors, because of prestige effected by ownership. It follows however that when a shadow is cast over a reputation related to those intangible assets then the value can be quickly lost.
“The extent of the reputational shadow will follow from a series of interactions in sport with, for example, media, fans, followers, volunteers, influencers, participants, users, customers, partners, suppliers, staff, investors or shareholders and regulators.”
Now, the relevance of this? Do these sports clients wish to be connected in anyway with an organisation headed by an individual that currently stands accused of actions far removed from appropriate governance ? Once they find out I doubt it
Here is the jot form for those that missed it, it hasn’t been deleted, bladesharp posted it on 27th March on here so you would have needed to scroll back through the posts to locate it.
https://form.jotform.com/240862361596059
Plenty of bad smells coming from the Netherlands
Thanks for sharing fog. That's a very clear, fair and factual summary, well done Mr Hargrave - I salute you. As it is the truth it should be taken up by everyone that receives it without question. It's time the truth prevailed rather than lies.
Could you guys share the text of the Hargrave summary on here, I haven't seen it
Waite and other influencers were likely to have been engaged early on to assist with achieving a favourable share price for those founder sells as well as for themselves, as it happened the price peaked a bit too early but they still did very nicely out of it
Thankyou for sharing bladesharp. Just submitted mine. I don't have Telegram so be helpful to see any updates emailed please ?
I wonder if the board of Norwich City FC realise how their past sponsor treats the same normal hard working folk that pay hard earnt money to watch their games ? I would like to think they and any other sporting organisation thinking of any involvement with his company would be disgusted, they should be.
Good to see some action brewing, maybe that cityam article should be forwarded to all those other journo's, the louder the better, get some momentum going. Well done to those prepared to take it on
I believe this link may explain what has happened here . The process used by Alvarez & Marsal was likely that of accelerated merger & acquisition. As a process it could easily mask "under hand" intentions if you wanted it to. Used by the executive team to their full advantage I suspect. Have a read :
https://www.grantthornton.co.uk/insights/the-opportunity-in-accelerated-mergers-and-acquisitions/
From the RNS stating the sales process has not so far produced any tangible or solvent offers, note the words “so far”. In my opinion this dodgy “sales process” was left to the last minute and then deliberately pushed through faster than any serious buyers due diligence dept. Could even get their pencil sharpeners out. The “upwards of 200” merely window dressing as was the fake linked in back slapping where one guy claimed to have even been a shareholder offering up his congrats to JD for pulling it off. Looks like Staff have been dished out shares in the new entity in exchange for toeing the line ? And the administrator went along with it all despite supposed to be acting in the best interests of all shareholders. The whole process needs an independent audit/investigation
The administrators are no better, taking fat fees for joining in screwing the shareholders. I hope in the case of JD what goes around comes around - some day.
A name change incoming from VST to “new” Bidstack to align with the new logo and maintain continuity with the Bidstack brand and the launch of the new web site ?
The “left my job” poster that had their sole post taken down on here in recent days (probably due to the accusations in it ) looks to have been genuine now that events have unfolded. The accusations wouldn’t have complied with LSE rules but that may not be why they were taken down ?
Maybe Doug Lowther should have agreed the proposal of the profit share with VST back in September when it was proposed ? Maybe we wouldn’t be where we are now ? We will never know