Member Info for dougb189

Quite a nice buzz after Tuesday’s notice with its slip on compliance.

And I ain’t a superstitious kinda guy, But was really cursing when Chandra then posted another Kiss of Death.. his Rocket to the Moon, number 101. FFS. lol.

So might then have to start on a new squeeze (still a few irons in the fire).

Counsel was very intrigued AIM with that point you aired, ie. everyone knows where the office is (counsel laughed at that) but the important point that was then being looked into is.. ‘where’s Amit’s HQ’.

In addition, the relevance of the first form, for both the US counsel and the SEC, is have any US citizens been purchasing..

‘..ongoing royalties..’ Very interesting input. And perhaps gives further insight on Tuesday’s notice of the compliance to the legal requirement that payment notifications are clearly separated.

The gist of it as earlier covered : ‘To prevent payment disputes arising from purchasers. Each separate Notice must highlight individual payment.’

US counsel was also very interested in that list of IRS forms.

Specifically, the first one.

As I suspect, will also the SEC.

Yes and no Antha : you are suggesting it is a waste of time & effort to raise a report with the SEC, that it's all just a fraud and for which a police investigation would then suffice which would then have to result in Amit being charged with the fraud crime of tort of deceit. Yet the UK financial authorities have several times looked into the complaints of ‘delayed payment of $279.5M’ and still there is as yet no police report then being raised by them for the crime of tort of deceit. Quite significant imo. That then raises the probability of there being something more than just a crime of fraud.

What does occur is that after each correspondence with Amit & that being cc’d with the SFO, the company then issues yet further Notices of ‘the cheques are in the post’ and the UK authorities are seemingly okay with this ? Again, it points towards something of substance.

My queries to the SEC then bring in an external authority who might, IF it is indeed all a con as you suggest, might then actually inform the investor that he /she is nothing more than the victim of a crime, so that he /she might then take litigation for the crimes of tort of deceit. That would then make the UK authorities culpable of prolonging the crime & that would make interesting front page news. Not a risk they would be prepared to take imv. Again it points towards there being some substance to Amit’s claims of ‘the cheques are in the post’.

And I have seen no evidence supporting your ‘selling shares’ having occurred since announcement of deals. And your quoted source does not make a very good witness.

I of course could be totally wrong (I’m flexible with that ; nothing is ever 100%) and you could just as likely be correct in there being no deal (stranger things have happened) but I believe that raising a report with the SEC with the strong implication of American participants might then shed some further light on this. And at the very least, it again puts a subtle squeeze on Mr. Amit Ben-Haim. Fingers crossed (& in addition to which I’m feeling more confident) but that on Monday there’s then notice with substance aired.

Gov.uk does not have a good track record with regard to pensions ; the torries Norman Lamont imo created the most damage. Companies were then given access to spend their employees funds, and the more VAT and tax that could be generated from that spending was then into the government’s coffers, often detrimental to the employees pension fund.

There is a new crew now in charge. Worth reminding them of past screw ups.

From the historical records :

The Great Pensions Robbery : How New Labour Betrayed Retirement

‘..When Labour came to power in 1997, Britain had the best system of retirement provision in the world. Millions of us knew that our years of hard work would ultimately be rewarded by a leisurely and comfortable old age. Now, however, the system has virtually collapsed and vast numbers of us face the grim choice of enduring a poverty-stricken future or working until we drop. What on earth went wrong?

In The Great Pensions Robbery, award-winning journalist Alex Brummer exposes the truth behind endless official spin and obfuscation. He uncovers an utterly shocking story of cynicism and inaction, in which a government bent on penny-pinching, a bullied and ineffectual civil service, and individuals more interested in their careers than public service have all taken a part in fatally undermining a 100-year-old system, thereby bringing misery to millions. It's also a story of breathtaking hypocrisy, where those in charge have feather-bedded their own pensions while destroying those of ordinary people. And, as Alex Brummer convincingly argues, we're only just starting to live with the appalling consequences..’

====

It is though imv really irrespective of what happened before, but gov.uk are not going to be getting the returns that they hope for, if the pension funds are then as you suggest, all allocated to bonds: There is then no additional VAT, no additional tax, no additional significant return. There then exists a probability that it will just be a repeat of New Labour’s hiccups.

And $279.5M is indicative of a lot of missing UK tax revenue, be it pensions or not.

Then just becomes quite a nice buzz word. But one which hopefully brings back some rather disappointing memories. For me, I would be more worried about the nationalisation of the railways & its pension funds being ‘re-located’ inclusive of some of the best paintings from some of the best Masters.

A buzz word which may or may not then get aired from our American cousins but the word-association with previous ‘regulatory mistakes’ will then will likely ask ‘‘are the regulators competent for the task and who exactly is that American finance agent chappie actually in compliance to ?’’

I suspect Amit might be among the first to then copy and forward on. His copy might then go to his agent. Sincere Pi’s might consider forwarding a copy again the SEC &/or the SFO &/or their MP.

We know that an American agent has been handling the distribution process at least since the 21st November 2023 “you will need to select and complete the relevant IRS (US tax) forms as appropriate”. Until this date, nowt has occurred.

I had suggested that if 10% of the equity holders were willing & raised an EGM (as per US counsel) that a 10% fee amounting to c.$29.5M could then be made payable to then start proceedings to take the ball out of Amit’s hands, which would still leave the previous quoted divi of $0.2795 (which now gets more & more diluted, the longer this is delayed ) then each share becoming revalued at c.$0.2515. Prior of course to any more of Amit’s ‘anomalies’.

Tim being more prudent had suggested that c.5% should still see significant interest from the beagles. Guessing the decision might then rest on who actually commits their % holdings towards a legal resolution. And if we are again no further forward, come 1st August, then shareholders might wish to start considering such alternative approaches..

SEC cont.

..Again I would be grateful, if your good office could give some insight into what might be the correct approach in achieving a satisfactory conclusion to this ongoing saga. In the UK we have access to the Financial Ombudsman who generally are very good at resolving any finance agent misdemeanours within the UK. Would you have a similar office ?

The UK government has recently entered new administration and have highlighted that there is then an immediate £13B shortfall to cover their requirements. They have additionally highlighted that the pension funds could be better utilised and that just ‘1% of the pension funds being invested back into companies, could create c.£8B worth of revenue’. Which is wonderful as I am hoping that there then might be free train travel obtained from this additional revenue. There is though the question of who is going to adequately monitor the various pension funds investments & could a similar case to the above, occur again. And hence my serious concern on the current status quo and the apparent lack of any regulatory oversight. I will be asking my Member of Parliament (similar to your Congressman & Congresswoman) for advice with respect to this and so any input you could provide will greatly assist.

Currently in talks with counsel from your 5th Avenue, NY, who believes that this company director has ‘not acted normally’ and that there are questions to be raised directly of the American purchasers and of the American agent. For anyone that may likewise be interested from your office, I have copied the email that I sent to the US counsel highlighting the consistent recklessness to the truth that the company has posted over the last 14 months in addition to similar posts from an American over the past 9 months.

I would be very grateful on behalf of myself (& my sorely depleted pension [SIPP] funds) in addition to the c.850 company shareholders that are part of the shareholder group whom I believe I the regulatory authorities should have a duty of care for, in simply just keeping informed as to the latest enquiries and approaches in order to finally bring a conclusion to this saga.

Many thanks in advance,

Kind regards,

Doug.B.

Private investor,

UK.

+44 (0)

Whereart thou American agent :

[ Submission Number: 17217-685-791-*** was submitted successfully]

United States , Securities & Exchange Commission.

Dear Sir / Madame,

I would like to enquire of what avenues may be open to a foreign private investor (UK) who previously invested some of his pension funds into a UK London financial market listed company that then moved offshore (Cayman Islands) and then sold the company assets for a total of $279.5M to one American firm [$50M] and to possibly a second US firm [$229.5M] ?

The first payment of $50M from a ‘North American Communications Company’ having been deposited in escrow in the US with the CIBC Bank, Chicago, Illinois since March 2023 was then available for distribution in May 2023 but the company then started submitting numerous delays up until this present day, on why the fee of $50M [plus an additional later $229.5M] have not yet been forwarded to the company’s investors , much of which was tied to UK pension investments through their SIPP portal.

With the area of company jurisdiction then having been moved to offshore, the UK regulator who is the Financial Conduct Authority and the UK Financial Ombudsman have both declared that they are unable to assist the UK investor retrieve his pension investment.

The UK’s Serious Fraud office kindly phoned and asked for further details, 7 weeks ago. But it then appears that their capabilities are also limited and that neither the missing $279.5M [$50M of which was deposited in escrow and was then made available for distribution to shareholders in May 2023] nor the pension SIPP investment of £xxx,xxx are then not sufficient enough cause for them to proceed in an investigation and/or comment. The UK pension investor has in this instance no appropriate authorities willing or capable to assist him or her.

May I therefore ask what assistance if any that the United States could possibly provide that then might help facilitate a satisfactory conclusion as to to why American firm/s can then acquire the company’s assets and why an American finance agent responsible for the distribution of shareholders payments, then only results in company notices stating ‘the agent has commenced payment distribution proceedings’ being posted on company website almost once a fortnight for the last 9 months.

The company notices have stated since October 2023 that an American agent will start or has started the distribution process and that shareholders will be notified imminently, yet until this date, not a single shareholder or any UK broker has received any correspondence from an American distribution agent or from the company, suggesting that there has been no compliance with the distribution processing & no evidence of any actual due diligence.

TBC.

To prevent payment disputes arising from purchasers.

Each separate Notice must highlight individual payment.

That’s a squeeze occurring & which has then resulted in that we now hear more substance & now of part of the compliance process.

This is not the first time a squeeze has been applied : the June notification of ‘agent details will be published on Friday’ was then tied into an abrasive request 4 days earlier, sent to ABH and cc’d to the SFO. He was put under the spotlight & then produced that rushed notice proclaiming ‘will post agent details on Friday’. His counsel then quickly advised against it and so that rushed notice was reneged on. Will he again renege & do the same on Monday ? And I really don’t know. His track record is appalling. Lol, but the quote from the US was “this guy is not normal”.

That was not the only squeeze. But there is now imv a distinct shift in the tempo.

Today is again a squeeze, with Amit now having to give more substance to his notices but not sure from where this squeeze originates : could be Tim’s video calls with NY, who were then quite keen & were going to carry out further subtle enquiries prior to full-on participation; it might have been the request also this week to the SEC to provide more details on how American companies have purchased products which then sees payments deposited in escrow in a Chicago bank since March 2023 and of how an American finance agent can be sitting on UK investors pension funds for 9 months: or could possibly be the UK’s SFO team. Many looking at this now. And that is only the warm up. As of today, one London MP and one Edinburgh MSP are now in the loop.

Quite looking forward to Monday now.

M.S.: “… shurely not even you were ridiculously stupid enough to spend…on utterly worthless cloudtag shares….how much did you pay for that load of junk to begin with?….”

And so what say you Dr.Jekyll ?!

Dr.Jekyll. “Lets chat about the company’’

Madame Schadenfreude “worthless piece of junk”

Lol.

So you are admitting then that you are indeed bellicose.

That split personality then comes across as likely arising from schizophrenia..

what with your Dr.Jekyll proclaiming an interest in discussing all things Cloudtag and your Madame Schadenfreude proclaiming the opposite with her ‘worthless, load of junk’ ??

So, who exactly am i talking too..

Bellicosity indeed :

“shurely, not even you were ridiculously stupid enough to spend…on utterly worthless cloudtag shares….how much did you pay for that load of junk to begin with?..”

“..and so i don’t mind one way or the other whether you win or lose money.,.” …But please allow me to post every night of my satisfaction of witnessing the troubles, failures, pain, suffering or humiliation of others..and to point out with utter boring monotonous regularity the sttoopidity of others..’

Does that sound about right Madame Schadenfreude.. ?

& Does your low self-esteem then have a trigger point.. coz i’m working on it.

Madame Schadenfreude sounding quite worried.

‘..as earlier stated ‘Amit’s likely to be short’ but hopefully still a few mill to keep the lawyers happy. Sell the xxx..’

A bit of yes and no :

The actual process of determining whether funds exist or not was rated as being not too difficult. The legal beagles simply take it upstairs to those who then have access to the banks & all the redacted company docs. Came across as being confident it was fairly easy to implement.

Assuming they find no funds, the US counsel seemed quite keen on chasing litigation. Again was quite confident.

And if Amit’s been stealing from all & sundry,inc. the Pi’s & the soup kitchens, US counsel then also suggested that he also brings in the corporate beagles. IF the funds exist, and Amit continues this charade, then shareholders might move in, less 5%. That then leaves Amit with c.200M shares minus 5%. If he continues, then i personally do not see him keeping the proceeds from his c.200M shares. The corporate beagles would then move in. That then improves Amit’s diet & health… A decade or so on porridge.

Early days yet & fingers crossed there is then no more ABH BS. As per earlier, the squeeze is on.