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Hi, yes that is where it is currently at, i attended both meetings one with administrator and then one with the legal firm appointed

They are also doing a forensic search of the accounts leafding up to administration

I and many other investors believe the share should have been suspended around 3 months before Dec as the financial problems were being hidden a long time before the market update!!

I also believe money has been embezzled into an Indian company all along , they have set up many companies in India without telling shareholders!!!

As i said previously, ALL SHAREHOLDERS NEED TO CONTACT THE ADMINISTRATION TEAM

Thankfully the whole management team will be looking for jobs soon as Koovs will not survive the Corona outbreak in Indin, FLFL are on rocky ground and could also fold !! He who laughs last and all that!!

Hi, yes the fca have responded several times to state they were performing a review of the situation

Regarding FRP, the guy dealing with the administration is called Goeff Rowley

Shareholders here have been defrauded out of their shares, it's as simple as that

Waheed valued this company in 2018 at 15p per share i.e 60 million mcap with 6 million revenue and and a million odd in the bank

IN 2019 he then pays 3/4 of a penny per share when the company has double the revenue and more cash than the previous year

Th administrator has made a very big mistake by allowing this to happen

I ADVISE EVERY SHAREHOLDER TO CONTACT FRP

Had to post in 2 posts so you will need to put them together

As a shareholder I believe this company was forced into administration, there was no cash conserve implemented to extend the life of the company as had been done in previous years, the spending was just crazy and out of control, in the final 6 weeks the Company spent or used 2.9 million pounds, where did this go?! Had the company implemented proper cash conservation they would of had until the beginning of March 2020 to find alternative funding. This constitutes to Purposeful negligence and Market abuse by all of the Directors in my opinion as a shareholder.

I also note the company (sgi3) Waheed used to buy Koovs was set up on the 10th of Oct, why would he set this up while withholding MARKET SENSITIVE information?

I believe there has been fraud here and request this to be investigated by the FCA and the SFO

To whom it may concern

I am emailing regarding my investment in Koovs which is an AIM  listed company

My name is xxxxxxxxx
I held xxxxxxxxx shares
The total cost was xxxxxxxx

I am reporting Koovs as i believe there has been FRAUD

I invested in this company as I truly believed what the company and it's Directors were telling the Market.

The company paid Hardman & Co to do a report on Koovs which was then released via RNS, It is now clear this report was a paid for pack of lies and designed just to sucker investors in, this report was released in the lead up to a 15p placing which valued the company at 60 million gbp.

The Company also lied about the Ht Media deal as a second tranche was never subscribed for, this I believe was because the company couldn't afford the approx 1.8 million gbp cash the company would need to pay Ht Media. This is complete NEGLIGENCE by the Directors as the deal should never have been done without proper  due diligence to make sure Koovs could afford this expense when required.

Koovs also failed to do full due diligence on the FLFL investment and they told the market that the investment deal was all done and FLFL also had all the necessary permissions from the RBI, this was clearly lies as the FLFL deal fell through due to the RBI not giving permission for the last tranches. This strikes me as very strange because there was no problem with the earlier tranches?

I also believe the company has committed market abuse by withholding market sensitive information, the information released on the 21st of Oct was known to the Directors at the beginning of Oct (probably earlier).
This information when released caused over a 50 percent drop in shareprice value so anyone buying from the beginning of Oct to the 21st  had ZERO chance, they were in fact just robbed.

In a nut shell and in my opinion what has happened here is this -

Waheed Alli listed this company on the AIM market to get the funds required to grow the business, growing this company was far harder than he anticipated. While he was talking others to invest by buying shares he himself invested via a CLN which gave him the best opportunity when the company eventually collapsed, as Chairman he had a complete conflict of interest and this come the end was crystal clear. He used 100 million pounds of investors money and then bought the company for 3 million pounds, how did he value the company in 2018 at 60 million when it was on it's knee's then buy it the following year for 3 million when it was in a much stronger position?

Waheed is actually not indian or asian although he looks it.

Anyone that is looking to contact the above mentioned should keep an eye on this chat, in the next few days i will draft a few templates that you can copy and paste and just add your name and amount of shares you held, them email to fca sfo and frp just to make them aware of how many people have been ripped off

Of course that's what he did!!

Project the company as far as possible on the current funds then buy it for pennies once the funds were burnt out!

The company has burnt 29.5 million pound since the 15p funding deal last July, when they were asked about the cash burn by the analysts at their presentation morning Robert Pursell refused to answer, I heard it on the conference call

They blame the rbi yet in koovs own rns they state all permissions were GRANTED

Last year the company was in a cash conservation mode spending 750k per month

At the end of this year the company stated they were in cash conservation mode, on the 21st oct the cash balance was 3.3 million, come the 10th Dec the cash balance was 400k, where did 2.9 million quid go in 6 weeks????

The frp report states the company knew early in Oct the rbi had declined flfl to invest, at that point the company probably had 4.5 million cash, had the company of reverted to 750k per month cash burn we would of had until end of feb to find funding

The purposeful negligence here is beyond the joke

Guys, can i advise each and every one of you to contact the fca individualy, also send the same concerns to the sfo (serious fraud office)

You should also contact your local mp, they need to be made aware of this scam, we have been ripped off by a labour peer and lord, he has also pulled this off before, first time round he ripped off banks and a large investment firm namely 3i, this time he has ripped off shareholders

I know of people who have lost everything, the list of people that have been ripped off by all the lies is disgusting -

People at retirement age left with nothing
Disabled people
People that have lost their children

Everyone invested put their faith in Waheed Alli but he has no morals and no integrity

We all need to keep pushing, do not give up!!

Even the frp administration report was packed with lies, lies that are easily proved by reading the recent rns's

The administrator were so say appointed after 11.30am and 6 hours later the business was valued and sold to Waheed Alli for a pittance, last year with 6 million revenue they valued the company at 60 million with the 15p placing yet this year with double the revenue it was Valued at just 250k?!

Something's very wrong here