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I think a few are in for a big shock.
Not so sure I’d want to be looking over my shoulder fearful for when the day it catches up with me, as it will at some point.
Playing with corporate money is just seen as a game, however to there’s real people harmed by this game. Effectively Setting out to defraud Joe Public is crossing a line from which there has to be consequences.
Unleash the dogs.
There is also an existential crisis for the London markets for them to maintain its global share with another FTSE top 20 delisting and moving to the US. The London market needs to attract people not alienate them by allowing the current crop of shysters killing it.
They are not providing finance to support but to destroy, it is just parasitic and cancerous activity to the companies that use them and the market in general.
Yep, the MM shysters are running riot.
Lest we forget that one of them has consistently been the conduit for the BH short and advance selling pattern.
The fact that said MM has been working in the grey zone of being a EU passport holder, where the FCA relies on its EU counterpart to regulate them has imho failed.
Then again the BH knew this when choosing said MM to do its bidding.
Hopefully they will get burnt along with the BH when this is all unfurled….
Shysters to a man, not sure they are men though, weasels perhaps…
And that NPO can be done as part of their investigations it does not have to follow a charge and is used to make the case for charging or not.
This is a step change in the way the SFO can now work, with key law changes last year to enable them to do it and speed up their process.
RBM not forgetting the SFO can raise a NPO for disclosure to the CI authorities. That will open up the audit trail nicely.
The CI have become very keen to protect their reputation and whilst they might be a tax haven they are keen to ensure dealings made under their protection remain legal..
Spot on wwal17, the production flat lining is a direct result of a lack of injectant. Purchasing of Injectant was stated as being part of the September raise by the CFO, where is it? Where is the money?
This was all after having spent nearly $5m capex on the upgraded gas gathering system to handle increased injectant.
Our predicament since September is basically the result of sabotaging production to prevent the company demonstrating it could become self sufficient on the BFSU alone. It’s so cynical it’s almost a pantomime.
Utter criminals at the helm at present.
Hoping RBM and the team add these updated production and gas injectant numbers to their case…
Stas thanks for explaining unconscionable contract in detail. I just assumed if people didn’t understand they’d just google it. Good to have it spelt out here.
RBM, given it is not in the Boards interest or game plan to contest the Bonds could the SAG via the Canadian counsel not take it to the Canadian authorities and or a Judge outwith the Boards blessing?
I think you need to understand that statement as a public one is just the tip of the iceberg, shot across the bow.
You’d be foolish to think there isn’t supporting information and detail behind them which would be for the authorities and ultimately the courts to digest, act and decide on.
It’s called an unconscionable contract and had the board not been complicit in defrauding the shareholder base it would be torn up but that is not in their interest to do so. Which further demonstrates the disconnect between the BoD and the best interests of the Corporation and its shareholders.
It’s a bit like Putin claiming he has no effective challengers whilst murdering or locking up anyone who dares to stand against him, ergo he can do what he likes because he has a legitimate mandate…. Not.
I think it’s fair to say if the last two destructive and massively dilutive share issuances were not made the percentage would be a lot higher. The doubt whether those issuances were made by legal means is key. I personally suspect not.
Don’t forget fraud can also be conducted by your inaction too.
Look at the bond contracts; in any reasoning by a sane person or in a court of law they would be considered to be unconscionable.
Even if the company (and its advisors) failed in their due diligence on initially signing them there has been plenty of opportunities they could have corrected the error, but chose not too.
That is a wilful fiduciary failure in itself by the BoD. Add that to the ‘set out to defraud’ by the Bond Holders and it gets murkier.
The fear of the law is enough for most, I certainly don’t condone anything beyond that.
An old school slap wouldn’t go amiss sometimes but that’s an extreme from my youth where that was the norm and something even the local Bobby would have met out. But the world moves on and that’s unacceptable today.
Although I will say I wouldn’t put myself or my family in a position where that was a potential consequence.
Yes due process is in hand, may it serve those looking to it being a fitting and just result.
Interesting to note AM has gone AWOL from his London pad, RG has moved house as has TR. perhaps they knew what was coming, shame they weren’t truthful to the market as quick.
Good post Stas, wholeheartedly agree.
I do agree with the SAG methods though, deal with todays wrongs to get a toe in the door and halt the current game. then let the rest be unpicked all the way to the original sin off the back of that.
There were some good (and bad) replies but here’s the original;
There's a complex game in play.
Whilst the shysters will just say it might be unethical and not a crime to conduct a 'loan to own' scheme. As if it's [some] innocent big game that hurts no one. Anavio and their cohorts are as amoral as it gets and have materially damaged the company and share holder value by their actions to date imho.
However if it is and always was your intent to grab a company for under it's fair value by these means you have set out to defraud.
The planning and execution of that game shows to me you deliberately set out to defraud the corporation and its share holders of its assets and worth.
That is plain and simple fraud imho.
Let's see where this ends up.