Richard Poulden's Valerum Blockchain and the Michael Mainelli spoof!19 Oct 2022 22:18
Natch the announcement that the Richard Poulden/ Dave Lenigas sham that is Valereum Blockchain (VLRM) has signed up a new strategic advisor was signed off by corporate advisor Peterhouse but it is the directors who took responsibility and they should be ashamed. Here’s why.
On 13 June 2022 Valeriuum announced:
Valereum Appoints Leading Global Consulting Firm Z/Yen Group as Strategic Adviser to Assist with the Gibraltar Stock Exchange
Wow that sounds impressive. We are also told by Z/Yen Group boss Professor Michael Mainelli:
“We have watched Valereum's GSX project with interest and look forward to being part of building a new and vibrant exchange in Gibraltar."
“Z/Yen Group is the City of London's leading commercial think tank and venture firm promoting societal advance through better finance and technology. Founded in 1994, Z/Yen applies its Z/EALOUS risk/reward methodology for financial centres, banks, investors, corporate treasuries, information providers, exchanges, insurers, trade associations and alternative risk vehicles. Z/Yen's strength is in financial services strategy, intelligence, and research. Major clients of Z/Yen in the financial services sector include many of the senior stock exchanges and many of the world's leading banks. Z/Yen combines statistical, economic, and regulatory skills to develop unique offerings across financial markets, ranging from traditional stock and commodity exchanges to insurance, reinsurance, investment management, pensions, gambling markets, or crypto assets.”
That all sounds jolly impressive and like a real independent validation of Valereum. But hang on Henry, that name Michael Mainelli sounds vaguely familiar. Let’s do a google search.
Well for starters, the last posted annual accounts of Z/Yen are for calendar 2021 and show a loss before tax of £163,521 on revenue of £884,695. That is not the sort of numbers I’d associate with a “global consulting firm” and if those numbers make Z/Yen “the City of London’s leading commercial think tank and venture firm” I’d hate to see what the rag bag also rans look like.
Oh, and that name Michael Mainelli really does ring a bellow. He is, like me, a good Irishman and has a few other corporate hats to wear.
For starters he is a non executive director at Wishbone Gold (WSBN) a company where I am a loyal shareholder and where the boss is er…Richard Poulden.
It gets better. Two name changes ago Valereum was on the AIM sewer before being slung off. It was then called PCG Entertainment (PCGE) and the boss was er….Richard Poulden. And om its board until the collapse of a failed merger with Justin the Clown’s Vox Markets and Richard Jennings Align Research was er….. Michael Mainelli.
In light of all of these related party links and the less than impressive financials from Z/Yen do you consider that this amazing third-party endorsement of Valereum was really that amazing? And thus, would you say the release was balanced and 100% fair?
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