Member Info for Hedgehog100

TGL actually announced on 1st. July that Jamie Ridealgh was being made a main board director: 01/07/2015 07:30 UK Regulatory (RNS & others) AIM Suspension - Touchstone Gold Ltd "The Company's investment in GOS Systems ("GOS"), a security sector focused technology business, is at the core of Touchstone's investment strategy. In the opinion of the Board, GOS has become an important and valuable asset. TGL's recently announced investment in Cambridge Quantum Computing Limited is complementary to the GOS business, as is TGL's investment in Smart Desk Systems Limited. It has now been resolved by the TGL Board, subject to shareholder approval, that: -- any future acquisitions that might be made will be complementary to GOS; -- GOS' chief executive officer Jamie Ridealgh be appointed to TGL's Board as TGL chief executive officer; and -- the Company's name be changed to GOS Systems." http://uk.advfn.com/news/UKREG/2015/article/67529088 That suggested that since his appointment as head of GOS Systems in February 2015 he had been doing well ... which makes it extra surprising that he should have left in October.

How much did TGL have to pay to attract a CEO of the quality of Jamie Ridealgh? Quite a good salary I would imagine; it's called the free market. 23/02/2015 15:37 RNSNON Touchstone Gold Limited Jamie Ridealgh Appointed to Executive Team " Former Western Canadian Director of Operations at G4S Secure Solutions brings world-class operational security and commercial experience to Touchstone London, 23 February 2015 - Touchstone (AIM: TGL), the AIM listed investment company today announces that its wholly owned subsidiary TGL Services which acquired GOS Systems ("GOS") in late 2014, has appointed Mr Jamie Ridealgh as Chief Executive Officer. In his role, Jamie will lead the executive team, and the operations, sales, and product development teams. Jamie brings over 15 years of operational security experience, with a track record in the military, governmental, and commercial sectors across the world. ..." http://uk.advfn.com/news/RNSNON/2015/article/65590566 And if the guys at Stanhill were greedy, why did Ilyas Khan leave over two years ago? And why did they arrange the acquisition of GOS Systems so quickly (soon after which another Stanhill's Waseem Shiraz stood down from TGL)?

SD, No small private company in England that I am aware of publishes quarterly accounts, and in my opinion it would be a waste of time and money to do so when TGL is not listed. I would prefer that they focus their time and money on growing the business. And you didn't even bother to properly read the info. that WAS made available in Ray's AGM report on ADVFN in February, as shown when you were ignorant about the 2017 relisting intention, and yet you are asking for more!! The company ARE keeping us updated, because we know what is happening, when and why, and that's good enough for me. Far from making a pig's ear of things, they are doing exactly the right things: e.g. cutting costs, and focussing on sales. The critical thesis of the Insider Surveillance article was not just wrong, it was bizarre: how can they say that GOS Systems is very good, and is making impressive progress, and yet at the same time say that TGL is very bad ... when the two are in effect the same thing!!

SD, We have received GOS Systems updates in some form every few months: for example there was the conference call last September, and most recently there was feedback on the 25th. February AGM attended by Ray on ADVFN. However, while quarterly updates may be appropriate when the company is listed and the shares being traded, its not really necessary for a private company. TGL's 2014 results were due at Companies House by end September 2014, so are now nearly eight months late. But to put that into context, uber successful global concierge company Quintessentially's accounts were recently filed nine months late: "Need that table, ticket, or rare item? Meet Aaron Simpson the upmarket fixer who knows the habits of the super rich By Sarah Bridge for The Mail on Sunday Published: 22:02, 5 September 2015 | Updated: 10:37, 7 September 2015" ... It set up hundreds of businesses, covering everything from wine and fitness to education. That model is being restructured, which Simpson says is why accounts were filed nine months late. ‘Give me a break,’ he says. ‘I’ve waited six months for my tax refund.’ ... While the concierge business has about £18.6 million in sales and makes £1 million in annual profit, these other activities mean the group’s total turnover is £65 million and it makes £4 million a year. ... " http://www.thisismoney.co.uk/money/news/article-3223583/We-tracking-customers-s-valuable-information-Meet-upmarket-fixer-knows-habits-super-rich.html We know that TGL's accounts have been held up by the Canadian tax authorities, which is beyond their control. When things are not beyond their control, Stanhill actually move very quickly. Three examples: 1. TGL's cancellation of its dual-listing with the Toronto Stock Exchange in April 2014 was accomplished in just four trading days from the announcement. In comparison, BHR took over four months to achieve the same thing - 19/09/2013 07:00 UKREG Beacon Hill Resources plc Intention to Delist from the ASX http://uk.advfn.com/news/UKREG/2013/article/59272261 23/01/2014 07:00 UKREG Beacon Hill Resources plc Voluntary Delisting from the ASX http://uk.advfn.com/news/UKREG/2014/article/60763356 2. TGL completed a "substantial transaction" just four months after becoming an investment company on 30th. June 2014. Compare that to a shell like SRO, which has gone years without a deal. 3. Within just several months of being formed by Ilyas Khan, Cambridge Quantum Computing Ltd. had already reached a stage that many university spinouts never get to, i.e.: external funding from a merchant bank (Stanhill Capital), appointment of business development personnel, a designated (and very impressive) website, use of the LSE's RNS news service, and a Chairman of the quality of Sir Nigel Broomfield KCMG. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12166699

Excellent find shares123, thanks. I would say that any pre-tax profit for a development stage technology company is a bonus, and in this case the profit isn't negligible: i.e. £299K. in the year ending 30th. April 2014, on turnover of £1.54M. The gearing can be explained by investment into the company's business, and will be eliminated by NEW's cash after the RTO into NEW. With better funding, a public listing, and a strengthened management team, business and profitability could potentially ramp up very nicely in the medium term, making the current valuation look like a bargain. It looks like Adam Reynolds has delivered a cracking RTO, so thanks and well done is in order.

Oilriches, Just out of curiosity, in what way do you think that it's a "very poor deal", as you don't say. Here's what I personally like about the deal: • Big Sofa is an exciting technology company with blue chip clients. • NEW will have a nice big chunk of the enlarged equity: i.e. 45% (prior to the fundraising), not far short of the 49% maximum for a RTO. • Big Sofa itself is being acquired for shares only rather than any cash element, so with NEW's existing resources, the fundraising shouldn't need to be too large. • NEW has plenty of cash, so it makes sense to RTO (reverse takeover) a company that needs cash, i.e. a synergy between the two. OPTI, which ten-bagged, and many of the most successful RTOs, were also in need of cash. "How Clients Use Big Sofa We have a great deal of experience working with global brands throughout the world; our client list includes Unilever, Tesco and Direct Line Group. These global brands use video on a regular basis and it is an accepted part of their research. They recognise that it needs to be managed to stop it losing value. Big Sofa works with these global companies in a variety of ways." HTTP://www.bigsofa.co.uk/

YS, The bears are well wide of the mark here, and aren't being rational. A medium turn return to the stock market is the intention, and I believe that Intelicrypt Tactical Solutions, as we will be called, will be very well-received. And longer term, the potential upside could be very exciting indeed. P.S. I'm surprised that you're only rating this as a "Hold" ... albeit we don't have a lot of choice at the moment!

The parts of the article about GOS Systems itself are the only parts to take seriously. And these parts confirm that: 1. GOS Systems is a good business. 2. TGL bought GOS Systems for a fraction of its value. 3. GOS Systems has made impressive progress since TGL acquired it. "GOS Systems: All That Glitters is not Touchstone Gold November 13, 2015 ... GOS Systems certainly held all the right credentials: an established knowledge base in lawful intercept and government surveillance technologies; a product line for intercepting wireline, wireless and IP traffic and determining target location via mobile interception; the promise of exciting new products; a history of serving police and intelligence agency clients; and, finally, revenue generated therefrom. ... In a word, Golden Orb Systems or GOS Systems was bankrupt, and with its well-funded Board lined up, Touchstone Gold was in a good position to scoop up the surveillance company’s assets for a fraction of their market value, or if you prefer, to “rescue” the company. … In the first half of 2015, GOS Systems made impressive progress, updating its DIAL suite and partnering with a wireless company to create an MVNO (mobile virtual network operator) as network infrastructure for a secure mobile service ideal for government agency and military clients. ... "

SD, I've no objection to anyone selling: that's their decision and right. But I feel that the company should make listing decisions that are in the best interests of the majority of shareholders, not just cater for someone who wishes to sell in the short-term. And for holders happy to hold for a few more years (+), or even just one year, a medium-term delay in relisting should not be a problem. I've never said that I know the company will be taken over, just that it's a possibility, which for many shareholders may represent a good exit point. I sympathise with the fact that you missed out on the buying opportunity with HOC, but as Chesy has said, how do you know that you would have actually bought when it crashed to its all-time low? You didn't post at the time that you wanted to buy then, and the chances are that you would have been worried that it would fall further. As you say, " ... its not easy to buy right at the bottom though is it?" I think that your best approach would be to put it down to experience, and accept that many share price movements are inherently unpredictable and uncertain. And also, that while it's good to have some portfolio guidelines, they should be flexible. As Graham Taylor once said: "Never say never, never say always." Finally, you earlier accused me of lacking balance, but that is exactly what you are displaying. For example: - You've asked who cares about the history of HOC's historic share price fall, when you've been complaing about TGL's historic share price fall (which actually ended about two years earlier than HOC's). - You excuse HOC's fall on the state of the mining sector, while making no such excuse for TGL (when as an explorer it is even more of an excuse than for HOC).

"intelicrypt.com This domain is reserved with TierraNet. Website is coming soon." http://www.intelicrypt.com/ Thanks YS, A good find. TGL directors incorporated Intelicrypt Tactical Solutions Ltd. in January, and this looks like it will be its website. The "com" domain indicates an international nature. The directors here are doing all the right things: minimising costs and focussing on sales, having already upgraded the business's infrastructure last year. With a low cost base and an existing seven figure turnover, much of it recurring, it shouldn't take many new sales to start ramping up a very nice level of profitability here. Regarding a future P/E ratio: any thoughts on a NASDAQ 'relisting' rather than AIM, in view of the company's North American links? The valuations there for these sorts of companies can be mouth-watering.

With regard to the removal of TGL from people's ISA's, the news last month that the ISA allowance next year will increase to £20,000 should help: http://www.moneysavingexpert.com/news/savings/2016/03/budget-2016-cash-isa-allowance-up-to-20000-in-2017-

SD, You're misquoting me. I said "relatively short-term", not short-term per se. GOS systems was only acquired by TGL in November 2014, and you've admitted that you wanted to sell as soon as it emerged from suspension, when the story would only have just been getting started. In contrast, many long-termers will probably be waiting for the company to eventually be taken over. Since TGL exited its gold-mining activities two years ago, at Easter 2014, TGL has approximately doubled from its low of 0.27p, which shows the success of the new strategy. In contract, HOC is down over the same period, even after its recent trebling. HOC in fact floated in 2006 at 350p, and was a FTSE 250 member, but had fallen to just 40p by early this year. That is more of a fiasco than a penny mining stock disappointing, because with those high-risk goes with the territory.

" ... and of course remind me once again about how rock solid this company is, how safe my money ... " SD, Will you please stop making up lies about my posting; you discredit yourself when you do so. Apparently you can't adequately debate what I am saying, so have to invent stuff that I'm not saying. No company or share is guaranteed, and my view of TGL is primarily that its undervalued at the suspension and delisting price of 0.525p: which is significantly less than its last placing nearly a year ago at 0.6p, since when the company has made good progress. There's no fiasco at all: simply a relatively short-term trader who doesn't like being forced to be a longer-term holder. One who is now trying to look wise in hindsight about another share that they could have bought, but chose not to do so. You would come across better if you took responsibility for your own investment decisions, and stopped blaming others. Do you have any useful research to post about the tech security sector, or about shares that have delisted for 'non-business' reasons?

I also note this from HOC's 9 March 2016 full-year results: “Net debt of $350.5 million as at 31 December 2015 (30 June 2015: $455.6 million)” Rather ironic that SD should claim and complain about TGL supposedly being short of cash, when TGL actually has no net debt, and instead favour a company with net debt of hundreds of millions!

Please note that I missed out the words "other than" in the post below, i.e. : "We know that many mining companies have gone bust recently, and that makes many such shares a gamble even at or near all-time lows. In that context, it's not really sensible to view them as other than a small punt at best. Gamblers always lose eventually."

SD, As I posted here on 6th. January, businesses that delist can relist later at a much higher share price. A good example is Direct Network Publishing, which delisted from OFEX in the late 1990s, spent a short period unlisted, and then relisted in a different form at about ten times its share price at delisting. I.e. the holdings of shareholders at the time of the delisting became worth ten times as much at the relisting. "Durlacher a scout for the scary sector Tuesday 20 April 1999 00.58 BST ... Direct Network Publishing. This internet publishing house was listed on the Ofex exchange, but was delisted after buying a telecommuncations company. Plans for a float on a much more substantial market stage, Nasdaq, say, seem to be afoot, and the eventual price tag is likely to shock traditionally minded investors. ..." http://www.theguardian.com/business/1999/apr/20/13 "The year long love affair Martin Turner is FD at 365 Corporation, an Internet and telecoms company that emphasises its year round commitment to surfers' passions in its name. At £400m market cap, that's a whole lot of love. 29 Mar 2000 ... in 1999. That day was 2 December, when 365 shares first traded on the London Stock Exchange after moving up from Ofex ... the merger between the telecoms business and 365 (then known as Direct Network Publishing) a year ago ..." http://www.financialdirector.co.uk/financial-director/opinion/1743379/the-love-affair I would add that it seems to be human nature for many investors to focus on the rising shares that they didn't buy, rather than on the falling shares that they didn't buy. We know that many mining companies have gone bust recently, and that makes many such shares a gamble even at or near all-time lows. In that context, it's not really sensible to view them as a small punt at best. Gamblers always lose eventually. But if you really felt that HOC was worth a punt recently, as opposed to earlier, I find it hard to believe that you couldn't have got a few hundred pounds from somewhere.

SD, Please cut out the name-calling, or I will be reporting you again. If you want to insult, go to a ruder website. How ironic that you call me a wind-up. Because you recently declared that TGL must be worthless, because your stockbroker doesn't show a value for unlisted companies! Similar with Mr TGL. His groundless fears about the directors delisting TGL to expropriate its assets have already been proven to be wrong, as we're being given pro-rata shares in the new Intelicrypt Tactical Solutions to which TGL's GOS Systems is being transferred. And I repeat that TGL's delisting is not related to GOS's business progress. Even is GOS had made a million pounds of profit last year, the delisting would still have happened. TGL's RNSes since its acquisition of GOS Systems seventeen months ago make it clear that the business is doing very well, and indeed has outperformed expectations. Where is your evidence that the company is short of cash? A company that's not short of cash may still choose to raise more for expansion, organic or otherwise. The company has a low cost base: apparently only about a dozen employees including directors, operating from one main office, but with seven figure turnover. Add to that the patented intellectual property worth millions, and operating in a highly-rated tech growth market. Be grateful that you ARE locked in to such a very attractive long-term growth prospect, to protect yourself against selling out to punt on the wild fluctuations of hugely risky penny shares.

SD, I AM balanced. GOS Systems is performing positively, so my view of it is positive. That is being balanced. And I'm not talking about it coming good in two years, as it's already good NOW. The difference between us is that you somehow see an unlisted company as being a bad company, whereas I do not. And a 'buy' rating is primarily a view on how positive you are on an investment, rather than advice to readers. Though the company could have a placing while unlisted, and someone with the right stockbroker could be offered a chance to participate. Further, why accuse me of guesswork re. the relisting timetable? Read the AGM feedback kindly posted: that gave a very clear indication that a 2017 relisting was most likely. Finally, I'm happy to face reasonably-expressed criticism, to answer it, but not to be insulted. That was why I reported the posts that you and Mr TGL made about me just before Easter, both of which have now been deleted. So let me now raise a concern about yourself. You were posting very bullishly about TGL last summer, but it now transpires that you were actually just itching to sell. I will say no more.

SD, Why are you picking on me in particular? All holders here thought that TGL would return from suspension after a maximum of about six months, the maximum allowed on AIM, INCLUDING YOURSELF! But I was one of the more conservative voices as regards how long TGL would remain suspended. The situation then changed, for 'corporate' reasons, not as a reflection of how the GOS Systems business has been trading, which all updates indicate is positive. As regards a return to a stockmarket, the intended timetable for a relisting is given in Touchstone Gold's January 2016 circular: " ... it is NewCo’s intention to seek a listing in the medium term, subject to, among other things, the development of the GOS Business and market conditions. ..." My definition of medium term is about two months to two years, which would indicate an intention to relist by about the end of 2017, or early 2018.

MrTGL - I've reported you to LSE again. And SD - I've reported you to LSE for the first time. The new ITS is a cracking little company, and non one has lost money simply as a result of TGL delisting. In fact, in the case of Mr TGL the delisting has probably SAVED him money, as he posted recently that he had wanted to sell TGL to buy CHA (Concha)!!!