Member Info for Dr_Kaboom

Last few days have seen a drop a few hours after drop and a fake/ marginal recovery through high ask towards the end of the day. Same today?

Mr Elliot can take his time while share price is destroyed. Prob finding ways to protect his CEO and CFO. Disgrace.

YHAL, i disagree. The RNS says they are looking into the matter but the results/outcome of that investigation has not been shared yet. There are some wordings on the max financial exposure but as mentioned, we don't know whether it was incompetence or fraud yet, hence the investigation. From my side, both are unaccceptable.

SB, understand where you are coming from. Leniency with the first one will undoubted lead tl the second one. Question is can we avoid the latter? As had been discussed here, this is not the first instance of creative accounting by this board.

SB,

"Such interventions are more likely in the event of worse situations than mmx at present"

Ideally, we should avoid a scenario where things gets worse, hence why we need to act now.
Toby (CEO) , Salazar (CFO) , Henry (audit committee) should all be candidates for getting the boot and have all options cancelled. Don't forget their absolute disregard for private shareholders.

All, thoughts on getting ShareSoc involved in the latest revenue recognition screwups?

ShareSoc offer assistance to shareholders when companies they invest in misbehave and do not act in shareholders’ best interests. It is only by joining together that we can campaign effectively on such matters. We want to ensure that shareholders have their proper say as owners of the businesses in which they invest.

Just read the MMX Advfn board, some proper lunatics there :)

Bakky, i have been buying to be honest since i also see value but need a change in managements and it is good to see that others share the same view.

How do we make this change happen?

Plenty of value but:
1) will that value be realised?
2) will shareholders benefit?

Incoming lawsuit by a group of private shareholders.

I can picture the headline:

Failure of Major IIs (Lombard, Oryx, LCA) in combatting accounting fraud.

Worth noting that Henry T also sits in the audit committee and he has also failed miserably in his duties.
We really need a change in the boardroom. They are just looking after their own interests, which in the absence of any shareholder returns, is unacceptable.

https://www.investopedia.com/ask/answers/032715/what-accounting-fraud.asp

Overstating revenue, failing to record expenses, and misstating assets and liabilities are all ways to commit accounting fraud.

Guess they will claim it was not a deliberate attempt at overstating revenue :)

Silver, thanks.

Bakky, you have to take all their statements with a pinch of salt, even the ones in the RNS.

Silver, you are assuming the decision is II driven. I wonder why IIs favour the tender offer to dividend. Most of them are heavily underwater anyways. I guess everyone is at a loss except those filling their pockets with shareholders money.

Nothing will happen. CFO will survive, as before. They are probably sitting round a table and laughing at our posts, while filling their pockets.

Is anyone else start to think that their relunctance to pay dividend is to do with the non-existence of the £7million cash balance? I reckon the way they may treat this is by doing anither acquisition to make numbers confusing, while allowing gravy train to keep going. Mark my words, watch out for acquisition and that may be confirmation that there is something weird going on with the books.

The Audit Committee has two members, Bryan Disher (Chairman) and Henry Turcan. The CFO and external auditors attend meetings by invitation. The Audit Committee is responsible for ensuring that the financial performance of the Group is properly monitored and reported on. The Audit Committee receives and reviews reports from management and the Company’s auditors relating to the interim and annual accounts and keeps under review the accounting and internal controls which the Company has in place. The Audit Committee meets not less than twice each financial year.

Rather than concentrating on the RLDs, they have been busy with creative accounting and cooking the books.
PR being paid huge amounts of money for nithing, Toby and co sleeping at the helm during the book cooking phase, auditors taking huge amounts of money yet failed to spot this in 2019 finals.
Starting to suspect that TLD business is being used for money laundering.

Bakky, try asking Toby difficult questions and he goes to hide under John's skirt.
Exactly, why are they paying huge amounts of money to Belvedere?

How much is John West at Belvedere being paid for their non-existent PR services? Shareholder money being wasted yet again to fill the pocket of others.