Member Info for dougb189

“to achieve exactly nothing” which interestingly is exactly what Amit has achieved with regards to any compliance towards distribution of payments.

..He has been sat on the $50M licence fee since May 2023 & he started the first of the ‘delays’ on the DaaP $225M distribution during the same period..

Achieved. Exactly. Nothing.

The actual work in obtaining the proof of funding was quoted as being ‘insignificant’ and that it will ‘cost in the region of several 10k’s’ but it will then likely cost significantly in getting Amit to release that funding for distribution to shareholders. He has been sat on the $50M licence fee since May 2023 & he started the first of the ‘delays’ on the DaaP $225M distribution during the same period.

You could perhaps ‘watch from the sidelines for free’ but I suspect what you might then be likely watching is an individual with his/her own legal counsel, who is then chasing substantially more than just 27.95 cents per share and that imo would likely incur cost on the average Pi.

Absolutely no doubt that Amit would again post some quasi-legal guff blocking any such move.

Hence why imo you need to spend a few pennies, or about 1.4 cents/share, to then bring in a team that can then handle the guff, no matter where the ‘jurisdiction’.

One of the reasons why I would be happily prepared to agree to a legal team picking up c.10% of the funds (2.795 cents on each share leaving 25 cents/share for the shareholders) is that many on here have quoted they have “written this off”.

If this were indeed true, then the only shareholder who would be severely affected by such a fee would then be Amit, as 10% of his equity is likely to be signicant. That would please me.

Guessing though that most peeps will likely agree that 5% (1.4 cents/share to counsel) should just as likely see a good result.

Whomever calls the EGM can then theoretically chair the meeting : Shareholders with 10% of the equity can then call the meeting.

If the shareholders vote for it, then will be a collective sacrifice.

No doubt though, we will again, once more,

soon get to read that ‘the cheques are in the post’.

Anything is possible.

Is why i suggested the legal team then pick up 10%

approximately $27.95M to then sort it out. Or the keys to the Amit estate.

The shares then retain 25.15 cents each.

Will be dependent on the shareholders putting forward their holdings towards a vote.

5% would still see a legal team with $14M.

The legal beagles then take the estate.

I think Chandra’s patience has been sorely tested by Amit.

Is great that he then assists in finding a solution to the current saga.

As per Cloudtag Articles of Association,

And a suitably compensated legal beagle.

A big thank you to Chandra.

That’s 50% of the vote covered that is needed for an EGM.

Time to get onboard peeps with Tim and see if we can speed up the distribution process through more efficient channels .

Confident that Amit has sufficient estate to then keep the legal beagles interested.

I think there’s good interest Antha from US counsel for chasing Amit and will likely incur a charge ;

Tim currently looking at raising an EGM and with a US counsel who then oversees pushing through the motions ; removing ABH, removing distribution agent & then implementing a legally approved distribution system and for which he is looking at 5% fee, leaving Pi’s provisionally with US 26.55 cents per share (less ABH finding yet further dilutions ‘anomalies’ the longer this go on )

With holding 5% of the vote needed for an EGM i am quite happy to go with this. I’ve raised same point you highlighted of jurisdiction and so i was happy to go to a 10% fee c.$27.95M for a team of international beagles (leaves Pi’s 25.15 cents/share) to then chase down Amit and whoever else (billionaire or otherwise) whom might be involved in the fraudulent delays.

That is one approach but I’ve highlighted to Tim that there could be an independent approach where individual/s Pi’s then seek legal retribution and imo very likely imv walk away with whatever is in the pot.

Tim i suspect will then need to raise this with Chandra who could then help implement EGM, or he could just as easily carry on waiting for another year. I’ll be looking at an independent approach meanwhile.

Meanwhile again, there is then a 3rd legal entity that comes into play, in addition to the SFO and the SEC whom shall also be sent a report. Similar squeeze effect to the tetrahedron.

I wouldn’t worry Antha about poor old Pikey : he’s still lining up his welly boots and playing with his ducks. The only time the fool gets excited is when Chandra posts another rocket-to-the-moon gif. Silly sod has no idea of what the game is or even who the players are. Stand by for yet some more of his Sesame Street wisdom..

That is not an equivalent metric : you state that it is a con as there are no funds and yet you then state that it is a con, that the funds have been gained by Shlomo.

The former is fraud by tort of deceit & the latter is theft of shareholders income.

Two totally seperate issues Antha.

Both of which are worth investigating by the shareholders but via seperate channels.

You seem to be incapable Antha of then cross-correlating your very own observations with possible alternatives other than to your theory of it being a con ?

“…both of them will cross paths / scam the wrong person…” & I suspect that the only two that have crossed ‘scheming ’ paths is ABH & SBH.

& so what might then be the probability that there currently exists a link with ABH’s access to Cloudtag’s $279.5M & his somewhat scheming elder brother desperate for funding for Impulse Dynamics, with its c.$80M/ year development costs ?

We now can likely expect the DaaP announcement to be put back, for the 3rd time in 12 months. Maybe 2025.

SBH Pt.1

From 10 years ago, by Gail Weinreb :

Shlomo Ben-Haim: Brilliant scientist or hardened businessman?

https://en.globes.co.il/en/article-1000693625

‘Shlomo Ben-Haim is a controversial figure who has made the Israeli life sciences industry the success it is today….

…. Ben-Haim tends to respond in the same manner when asked about the harsh way he manages negotiations with potential buyers or with his employees. "I have four children to support," he says, and then smiles his polite, seemingly modest smile that shows that he holds himself in high esteem.

Don't be misled. Ben-Haim is one of the richest people that have emerged from the Israeli high-tech sector. So far, he has been involved in exits worth more than $1 billion in the medical device field, and it is believed that he has made more than $200 million for himself, making him one of the people responsible for building up this industry.

"He has this way of telling about tremendous successes as if they were no big deal," says an investor who used to be close to Ben-Haim. "It's very nice." But not everyone thinks that he is so nice. In October, Eran Ben-Shmuel and Alexander Bilchinsky of RF Dynamics Ltd. filed a lawsuit against Ben-Haim, who was a leading investor in their company. They claim that Ben-Haim is a wealthy and powerful person who acted in "an extremely deceitful and fraudulent way."

Gangster-like conduct

The lawsuit describes Ben-Haim's conduct as befitting a gangster, including putting Ben-Shmuel's belongings into a garbage bag and throwing it in front of his house, forbidding the plaintiff to enter the company's offices, and sending SMS messages to employees "saying that the plaintiffs are thieves and were therefore fired from their jobs." Ben-Haim responded, "A suit has been filed against them that is being arbitrated in Labour Court since they unlawfully took funds from the company."

Lawsuits by entrepreneurs against investors are a common occurrence in the high-tech industry, but in the case of Ben-Haim, there has been a lot of them. Ben-Haim was sued in 2004 by Radiancy (which is currently merging with PhotoMedex Inc. (Nasdaq: PHMD). In this case, too, Ben-Haim was charged with trying to dispossess the founders of their shares in the company using fraudulent arguments.

The plaintiff contended, "The company's locks were changed, and the security company's "thugs" were ordered not to let the plaintiffs into the building. Then rumors were started that huge amounts of company funds had disappeared." The case was settled.

With a third company, Impulse Dynamics, Ben-Haim did not go to court, but a number of senior employees quit immediately after an agreement was signed with Guidant for an option to buy the company for $125 million, which ultimately was not exercised.

SBH Pt.2

Sources that were close to the company at the time claim that the managers left since they expected to receive a percentage of the deal, but in practice they only received a few tens of thousands of dollars. "The claims against Ben-Haim are that everywhere he invests, he is the primary beneficiary, and not the entrepreneurs," said an executive in the life sciences industry.

On the other hand, an investor who used to be Ben-Haim's partner, said, "Many people have made a lot of money with Ben-Haim. Impulse Dynamics employees also received tens of thousands of dollars." The CEO of a company that Ben-Haim controls said, "After hearing the rumors, I was sure that Ben-Haim would try to screw me at some point. I anxiously took his money due to lack of choice. In the end, he helped me as much as he could, and was always fair. I prefer working with him than with venture capital funds."

"Shlomo is a black and white person. You are either with him or against him - and then you become an outcast," one entrepreneur said. "He is extremely intelligent, with a lot of nerve (in a good way), who demands a great deal, but also gives you the feeling that he believes that you will succeed. He pushed me to technology levels that I didn't think I could reach, but I reached them. He is an honest person, and he was very generous with me when we went our separate ways. Of course, he was even more generous with himself."

Ben-Haim declined to comment for this article. He never gives interviews. "He loves success and money very much," said another close associate. "He is ambitious. Recognition is very important to him, but he is not looking for media recognition."

Ben-Haim sees only himself

It is hard to overstate Ben-Haim's contribution to the Israeli life sciences industry. He was a founding partner in Biosense Webster, which was sold to Johnson & Johnson (NYSE: JNJ) for $500 million - the biggest exit so far by a private Israeli medical device company. Ben-Haim was apparently the primary inventor of the company's technology, a device used in cardiovascular surgery that enables navigation within the body. Biosense Webster currently has hundreds of millions of dollars in annual sales and has 100 employees in Israel.

After Biosense Webster came a few exits worth almost $1 billion altogether. Ben-Haim was the leading investor and technology manager in each of them.

All of these companies were acquired by medical device industry giants, such as Johnson & Johnson, Medtronic Inc. (NYSE: MDT) and Guidant (now part of Boston Scientific Inc. (NYSE:BSX)). These corporations understood that there were Israeli companies worth acquiring. They were the basis for the blossoming of the Israeli medical device industry since 2000, a field that produced company acquisitions worth billions of dollars.

SBH Pt.3

Shlomo Ben-Haim was born in Haifa, studied at the Reali High-School, and began taking nuclear physics classes at the Technion Israel Institute of Technology. Later, he also studied medicine at the Technion while simultaneously fulfilling his military service with the IDF. The biography that appears on websites of companies he invests in, states that Ben-Haim is a cardiologist with knowledge of philosophy, nuclear medicine, physics, math, and biomedical engineering. A colleagues says, "He has a few doctorates," but even they do not know exactly what in. Ben-Haim has also taught at the Technion and at Harvard.

During his studies, Ben-Haim met his wife, Simona Ben-Haim, who is Professor and Doctor of Nuclear Medicine at University College London. Simona is a signatory on some of the patents created by companies that her husband invested in, such as imaging company Spectrum Dynamics Ltd., and she is an Impulse Dynamics board member. "Ben-Haim gives her credit for raising their four children while at the same time working as a doctor and as an academician," a family friend said.

Ben-Haim splits his time between London and Caesarea, in a house that he bought for NIS 48 million in early 2011. A friend said, "The house belonged to cardiologist Prof. Danny Gur who is a friend of Ben-Haim's."

Ben-Haim used to be part of a social/business group led by Lewis Pell, which also included brothers Prof. Rafael and Mordechai Beyar. Today, however, Ben-Haim works alone. "He doesn't see anyone except himself," said a life sciences industry investor that attempted to cooperate on a deal with Ben-Haim. "He speaks with everyone, but he doesn't really want to collaborate."

"When companies succeed, Ben-Haim is silent," said another investor in the field. "When he needs money, suddenly he sets up meetings and arrives all excited and tells stories about revolutionary companies and demands amounts that out of this world."

https://en.globes.co.il/en/article-1000693625

The second DaaP delay occurred in October 2023 which then sees Amit taking full responsibility for the non-payment to shareholders, so as to ‘gain an extra 2%’ in the dollar value, but which has then seen cancellation of the distribution of the DaaP payment to shareholders from October 2023 until the present day, a period of 9 months, much of it with no accountability for the delay (5 months to gain +2%) & since a revised fee was posted in February 2024, then 5 months since & nowt has occurred.

Then tied in with the delays in SaaP distribution, held in escrow March 2023 & available for distribution since May 2023 but ‘’dependent” on the DaaP, then results in a conclusion of suspicious fraudulent activity. An American distribution agent then being implied as the bad actor for the SaaP transaction.

Just a tremendous coincidence that two separate transactions seemed to have incorporated highly dubious & repetitive delays whilst Amit is clearly at the centre pulling the strings.

As reported to the Serious Fraud Office, there initially seemed to be some due diligence occurring when the deals were initially announced, thru 2021 till March 2023, covering the slow but steady advancement of achieving commercial value to the SaaP & DaaP resulting in the combined deal being successfully agreed for $275M November 2022 & then $50M deposited in March 2023.

The moment though that the first funds were deposited and Amit’s due diligence then seems to come to an abrupt end, with repeated missed dates then arising : an initial ‘technical delay’ arose in July 2023, immediately followed by a ‘self-imposed delay’ by Amit in October 2023 so as to gain an extra 2%’, and which then still sees the cancellation of any distribution of payments up to this present date.

Shareholders should be asking the SFO w.t.f. is occurring. Politely like. Or otherwise.

Significant statements as posted by Amit with respect to DaaP :

30.03.23. “The Company understands that the announcement for its DaaP sale will be made by the 5th of May 2023.”

16.05.23. “The announcement for the Company’s DaaP sale will be made by the end of May 2023.”

01.06.23. “DaaP sale announcement will be made by during week ending 7th July 2023.”

07.07.23. “a technical issue emerged this week”

07.09.23. “The DaaP sale announcement will follow by the week ending 6th October 2023.”

06.10.23. “The Company has received confirmation from the buyer that its DaaP sale announcement will take place by end of week 16th October.”

20.10.23. “The DaaP sale announcement will follow after the next statement has been issued as an enhanced payment is being negotiated.”

21.02.24. “The company is pleased to announce that the enhanced payment for the DaaP of circa $4.5 million has been approved by the buyer. The exact amount will be decided at the time of distribution. The DaaP deal funds distribution will swiftly follow the license fee distribution.”

05.07.24. “The Company will issue a separate update concerning the DaaP transaction.”

08.07.24. “As a result of the DaaP-related discussions, the Company expects to reach a smooth conclusion to both of these transactions during July 2024.”

18.07.24. “The announcement of the DaaP sale shall be made on the 31st July by the buyer.”

24.07.24. “The buyer’s DaaP announcement remains on schedule to take place on 31 July as planned.”