Member Info for goooba769

Tony I must admit you are making me laugh this morning. So based on the RNS's the old BOD have possibly carried out a dodgy deal. As soon as that came to light regardless if the new or old BOD were in charge the shares would have been suspended as there are questions over the financial state of the company due to the potential claim. So you are wrong to assume we wouldn't be suspended if the old BOD were in charge. The biggest issue we have at the moment is to stop being delisted. With regards the 6 month rule it is possible we could argue that we are suspended due to a new situation so it depends how the regulators look at it. Main issue is not having a NOMAD. Even if we do delist the company will still be trading and will still have £1m+ and the bigsofa loan. Actually getting money back from that type of investment would be a very long affair based on a number of things working in our favour. Admittedly I'm not keen on this as it would tie us in for some time and make it a lot more risky. If we can deal with the above then we are likely to be suspended for at least another 6 months while the potential claim is dealt with. With the cash in the bank Im still wondering if the claim(TW mentions $4.8m) will go ahead as it would take some time to run through the courts so there would likely be little money left to claim. Nick has skin in the game with ~8% holding so it is in their interest to recover this. Now is the time to see if they are as good as they say.

I hope Adam has some NOMAD friends to step in and keep us listed or this investment will be gone for some time or might never be seen again.

I don't see what it would add to the company by nominating him to the board when we have just lost the Bigsofa deal. All he would do is eat away even more money when we need to be keeping a close eye on it.

With being involved with companies in the past that have had legal claims they never get resolved quickly and I suspect Bigsofa to be long gone. If the deal did look that good then I suspect it will be taken up by another target on AIM casino fairly soon as I suspect all the DD was complete and any fund raising also almost complete. We might have 1/2 months window to sort this claim out and the Bigsofa deal might still go ahead but Im not holding my breath. After that it will be long gone. Its possible the RTO has been called off so we can claim suspension for a further 6 months as per TW comments. That would give us some space to sort the claim and still potentially tie up with Bigsofa. I do have the feeling this deal is gone now but you never know.

We can in theory relist now but due to the potential financial call we might stay suspended until a clear picture is given of our financial status. Problem is we will be delisted on the 9th as we will have been suspended for 6months so if our NOMAD leaves on the 24th I'm not sure if we can relist between the 24th and 9th if we have no NOMAD. TW pointed out that another company did stay listed after the 6 months as the suspension was associated with a second event so they classed it as a different suspension periods so this might be a way forward? As for the NOMAD I wonder how "toxic" we look after the events of last year and events to unfold and will that make us a bit like SER were they couldn't get a NOMAD. Anyway if we do relist in next few days I can see a mega sell off so get your hard hats ready!

Personally if this situation is as serious as TW makes out then I can see Adam/Nick running a mile. If its something that can be dealt with in the next few months then they might hang around. Anyway beginning of November we will either:- 1. Relist with this over our heads - shares 50>75% down 2. Stay suspended possibly still remaining listed as we are being suspended due to a separate issue 3. We are delisted - If this happens then I very much doubt we will see NEW again and as seen in SER the money will be slowly eaten away until the company is wound up Number 2 is my preferred option at the minute in the hope they can get rid of this historical issue with minimal cost. Although when we come out I still suspect a 50-70% drop with no news. What a mess.

fairly irrelevant as its out of our hands. We need to see more details on what this is all about and hope we can come back but I have that horrible AIM feeling we are about to get shafted! If they feel there is a case to go after NEW this will be tied up with solicitors for months/years until NEW runs out of money or we are forced to hand over what little is left. Best case is they don't see a case against us and leave us to it but after that has happened we will be easily 50% down on any opening.

I personally see them heading for the door ASAP and leaving this mess well behind them. If as TW has said this is all fraud Adam/Nick wont want to be part of it moving forward as any negative outcome wouldn't look favourable on them. They were interested in NEW as it had cash and would be ideal for a RTO into an up and coming company. Now the up and coming company has gone and the cash might well be heading out of our hands there is little left of interest to them. If I was them I wouldn't hang around.

They must have known for some time this was lurking in the background if TW is to be believed. Obviously they were hoping this would be dealt with before now and it would appear they have failed to conclude on it. Also with the RTO being terminated I suspect there is no clear signal from whoever is chasing the money that it wont impact NEW. Any wrong doing should lay with the old BOD not us share holders.

If true the NOMAD and old BOD should take the hit for this its nuts how the ordinary share holder gets shafted for fraud by the old BOD.

Tony have you read the RNS? "The Company announces that an issue has arisen in connection with a transaction previously carried out by the Company which may have a material impact on its financial condition" Previous BOD have shafted the company from a previous dodgy deal it would seem not sure how this relates to the NWOG?

this is and once again the old board seem to have shafted share holders once again. Obviously the old board have left something lurking in a pervious deal which is threatening the RTO hence the termination of discussions. Certainly lots of questions to come out of this! What is this uncertainty? can the RTO still proceed if this issue is overcome? and I believe the loans are repayable on the 19th Oct what's going to happen there?

Will be pi##ed away before Ben manages to get hold of it. I suspect the old board will have their share of it as they have been doing for months now. Don't expect to see anything back and you wont be disappointed.

Makes little sense for AR to do the dirty on NEW share holders(the action group can always vote against the RTO if the readmission documents aren't to our liking) and taint his reputation. It would make things difficult for him in the future to gain support for any RTO deals if he did such a deal. If we have a number of big holders who don't sell and AR gets his wallet out for any funding raise then that will look favourable in my eyes. I also expect contract news to come on readmission to trading as has been hinted. Big question is how will the readmission document look to us old NEW holders.

plus the people of the action group who have given Adam their proxy. We shall find out shortly.

Nick has 7% of NEW so I'd be surprised if Gary does in fact get voted in unless he wants him to come on board.

I doubt he will get enough votes to get onto the board. Still undecided if this is a good move by him as if this RTO deal falls through the shares will be 50% down on relisting. On the flip side we are yet to be shown the readmission documents for the deal so its hard to conclude on any forthcoming deal.

OTM unfortunately there are people who don't like to imagine what could happen to a new business/product coming to market with a slightly out there product/service. As seen on these boards they are happy to dismiss the company and set out to convince people its a poor company/product when they have no idea how it will be taken up. Like any company coming to market this could be a big winner or a big looser but there is no way of proving which way it will go. Its a case of looking at the product/company see what customers they start to bring in and see if they have enough funding to move it along. After the RTO I'm expecting them to have raised a few million and yes they will be spending big at the minute to get customers and get the name out there. Its a company at the early stage of development so its still a big gamble and everyone should have realised that by now. Do we really think we could RTO a company that has a product and is making money already no chance! Bigsofas accounts seem to be amiss at the minute(I'm not a great lover of this) but to be honest I don't expect them to look that great as the company is early on in the stages of development. Once a company has a product they usually need funds to push that out there which is why a lot of companies don't succeed because they cant find this funding. Key is can they use the funds from this RTO to push the company from that money eating machine into a money printing machine. Only time will tell.

I'm not being negative(Although I fully expect some kind of consolidation/dilution as Adam usually does in these RTO) I'm open minded at the minute as there aren't enough details to make a judgment call. The Action group goal was to remove the old board which it has managed but again not many details to make a call as yet. Once we have the details on the RTO and any possible funding calls you can then make a call on the way forward. Until we have that its all noise.

Is rife here at the moment and with the chequered history its to be expected. You can sit here and find positives and negatives for the new BOD and the deal being rolled in but hell what's the point in wasting your time doing it. We are suspended at the minute so there is very little you can do and with Nick holding a large % of the company whatever is proposed will likely get voted through. Adam has had some winners and some losers so we will have to wait and see how this pans out over the next few months and then make a judgement. Adam and Big sofa relative will likely have skin in the game so if they can make this company work then it benefits them. Also Nick has I think 7% interest at ~0.07p so he will be looking to make money on this. I suspect we will see a share consolidation and raise some money off the back of that. Hopefully they have some news on contract wins to role out with it when we come back to market. This is a new beginning and cant be much worse than the old BOD who have sat on their bums for the last few years milking the company of all its funds.