Member Info for Falconia

That’s it the only other asset. Scott ashby is director of a newco formed to acquire them. Probably paid a pittance. There is nothing left but a hole in the ground

RIP Dev Clever

29th august Launch My Career subsidiary of LMC Holdings placed into voluntary liquidation.

Asset value of 100k.

Dead as a Dodo

Aggarwal was taken in by The Dev Clever team and the impressive array of investors. He is a very bright man and has the integrity lacking in the others. He was shocked at what he found post the deal. Due diligence is one sided with a public company and he was not able to do any verification of DCs claims prior to the transaction. Normally the classification as a main market company carries all the necessary confirmation needed. Clearly not in this case.

When there is no hay in the stable the horses start eating each other. Think this is pretty much the situation here. We have no control, no visibility and there is no one to hear our views. The company is a busted flush so time for us all to move on to pastures new and ignore the remaining horses left in the stable. Goodnight literally.

Since he was Dev Clever’s Corporate Finance adviser at the time of the deal and he is and has been based in Dubai for the duration I do not think conjecture is an appropriate description of my statement!

He lives in Dubai

He was behind all the corporate deals that DevIdiot got involved in in the Middle East. So the disastrous barter deal with shares for licence fees in the Middle East. It was so dumb I have forgotten the name.

Companies house shows that it is no longer Dev Clever, nor Veative and is now Launch My Career.

There has been a change of directors and an issue of shares.

Seems to have been no notification to the mushrooms or shareholders

Any views or contact with the company?

Quad Erat Demonstrandum. Significant cost cutting, deferred salaries and delisting. Following DevClever down the cup de sac!

Thanks for your marginally patronising message. I do hop and am very good at it.
Since you are so clever perhaps you can answer the following
1. Dev clever was a listed investment and is no more. There is unlikely to be any recovery from it. Smoke and mirrors formed a large part of the share price ramp up strategy. Based on the boards lack of judgement you are asking us to believe the remaining “listed “ investments are worth what the market says. Only if these are blue chip stocks would I believ your statement.
2. What are these listed investments. audioboom? It is probably as illiquid as dev clever and the current share price is 20% of the previous value in the annual accounts.
So unless you are an expert in catching rabbits then I suspect the suspension is a serious indication that the company is in trouble. If it wasn’t why delay the accounts. They have lost most of the value, probably have no liquidity despite having so called illiquid listed assets.
Unless you are an insider- the preciseness of the number you quote which is not obvious from the accounts- I suggest you prove you are right with detail.
The company bet the farm on one highly speculative investment with revenues of less than £1m and a market value of £200+ defying any normal valuation metric, and has not surprisingly lost all its money. Let’s see how they dig themselves out of the ravine they have created.
Now crawl back to your burrow Thormageddon!! Hoppity hop.

They have no cash. £31k at half year. £27m write down on DevClever if you like the rest of the market believe there is no residual value and unlikely to have realised any cash from the rest of the portfolio.
Legal requirements go out the window when you are on the brink of insolvency

Don’t bounce.
This company is a busted flush based on greed and hype. The whole house of cards up to Robert Bonnier, Asimilar and Aqua is disintegrating before our eyes. There should be a fraud investigation instigated.
Akers Jeffries and the rest should be pilloried. I met both and Akers has previous and Jeffries struck me as a great used car salesman with a very small brain.

As I said before this news broke they are either out of cash or close to it. There is likely to be a deeply dilutive financing. Veative will have renegotiated a pretty aggressive deal for the payment for the Indian IP. So not only will shareholders be hammered by the Veative conversion but then again with a dilutive funding.
I would write off what you have and move on.

I suspect they are out of cash. Cash at half year £0.1m with an alderbarron receivable of £3.9m. If paid and losses match the first half they are out of cash. Without the loan funding which only kicks in on relisting they are dead in the water. Sorry state of affairs for a company on target to be worth £1bn by end of 2023.
If they do relist the Veative shareholders will control the company. Share price becomes a penny stock we get diluted out of sight. Game over.

Seems to me despite the bold market projections of the experts on the channel DevClever is a Dof0 company. No degrees of freedom! Maybe we should rename it Dof0Clever until it gets relisted. Hope I am wrong but I think the sharks and Baracudas are circling.

They are caught between a rock and a hard place. If they relist too early the share price is likely to plummet unless they have a very large rabbit that can be pulled out of the hat. Then there will be significant dilution from the purchase consideration outstanding for Viative. The longer they wait the less cash they have and they can’t draw down the new loan until they relist.
They are in a vice which is getting tighter by the day.

£100k of cash in the bank at end of April, Alderbarron now paid? And losing cash at the rate of £3m every six months and who knows what the cost of Dravid will be. No access to $30m facility until they relist.
They will have to do this soon or they look as though they are out of cash.
Interesting times.

Has anyone done the maths on DC’s secondary listing at Asimilar.
Despite all this euphoria the market is not placing much value on DC.
DC represented around 75% of ASLR nav and market value of c £40m before suspension. At the same time other financial instruments represented 7m.
ASLR is now capitalised at around £9m. Leaving £2m to be split between DC and remaining investments.
A better mathematician than I can work it out for us in terms of pence per share. Not a lot!

It’s similar to trading nil paid rights in a rights issue. If the share price is above the rights price they have value. Shareholders often sell enough nil paid rights to take up a proportion of their entitlement. This results in a zero cash outlay. This is what is happening here. The director is effectively selling nil paid warrants to give him enough to subscribe for the balance. This should be seen as positive as he is reinvesting the locked in value back into the shares and holding them. At this level it discounts almost all of the increase in value in Dev Clever which may or may not relist.

And who has a discloseable interest in Oscillate……Chris Akers.
Smoke and mirrors
Nothing is straightforward about this company.