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dougal i have no financial position. The only thing I would gain is being proven correct, which is worthless.
How pointing out how few employees ctag has, or indicating how unlikely there would be an investigation suggests something to you I don't know.
I would love it if there was an investigation. That would be justice.
dougal66 go speak to a lawyer. I would be shocked if you find any interested in pursuing any of this on a no win no fee base, which says it all.
So what? What would they be interested in his UK company? It is his caymans island company that the events took place.
"lawyers and the Serious Fraud Squad would be swooping on Knightsbridge Green "
Lol. The pre IPO had no published prospectus, it was just a private sale of shares in a cayman island company. Good luck with that. Do you realise how common fraud is in small caps? I would be shocked if there was an investigation. Such international investigations are very very rare.
Heck it is even hard to get insolvency practitioner to properly investigate clear small cap frauds.
What does having no full time employees have to do with Maddoffesque theme? All the external evidence points to this does it not? Have cloudtag themselves contradicted this at all?
Your rational was that Amit took a new job? Leaving any full-time cloudtag employee's?
I can see it isn't well funded. I also see it had convertible debt that got converted at 3x + a couple weeks ago. Just perfect timing.
It burns about 500k per 6months and only had about 32k cash on 30 September 2018. it has had 500k income since then. Sounds about time for a top up? I expect the 1m it is due for the new project to be spent on that new project, thus not effecting cash burn.
I can't say if it will be a success or not, but it certainly fits the profile of a company due a pump.
Aberdeenman's track record is atrocious. NFX is hardly cashed up. Pump and dump.
Why should anyone listen to any text messages. Didn't Amit have a stance that he couldn't talk to shareholder groups without the message being publicly distributed. Now he is what telling individuals that the commercial approaches came to nothing?
Shouldn't be some verifiable evidence of progress somewhere. No such evidence has been provided.
@Dougal
You still seem to think the product has potential. Isn't the onitor basically a polar H10 with a wrist based step counter mode. I guess one big difference is that the polar H10 has been out for years and is £50.
There has never been any shareholder verifiable evidence of the amazing claims cloudtag made about the product. It isn't even settled that the app is finished. If it finished why has it never been shown end to end and externally reviewed?
"Limited"
"SB Corporate Finance Limits" is the company the was used to bill cloudtag active for office rent and services. See under filled accounts and related party transactions.
https://beta.companieshouse.gov.uk/company/07824765/filing-history
Unfortunate due to cloudtags jurisdictions, we no visibility into other related party transactions for much of its corporate structure.
I have no stake on cloudtag, there is nothing to hedge.
your argument doesn't even make sense. Given that cloudtag is issuing shares at 1p (far less that its shareprice when listed), how would any shorter be in a bad situation?
@HairyGrotbox How many shares did you get in the pre IPO?
Evidence stands on its own. Reluctance to post it here suggests to me it can't stand on its own.
No evidence provided == no reason to believe.
So no evidence of anything happening. Thanks.
Still immanently?
Any evidence of any activity at all? Anything that can be externally validated?
@dougal66 Where on the website does it say no funding? How much is such a verbal statement worth? It is not enforceable. Given cloudtags jurisdiction little is anyway.
You and me have a completely different definition of the word "fact". How many "facts" from cloudtag have actually been true? I would say "no funding" and "relist" to be claims, not facts.
If a company wanted to buy cloudtag via IPO would be an incredibly inefficient way todo so. Fees and commission everywhere. A private sale/investment would be far more efficient.
An IPO really is a vehicle to offer shares to the public. Guess what, cloudtags reputation isn't great, so good luck with that. liquidity would very much be an issue, where are the buyers. Who would want shares in cloudtag.
Dougal what you are saying sounds like wishful thinking.
"Hex bud, there was simply no need for the 13th December update re commercial approaches & re-list"
Apparently a bunch of people have just given cloudtag money in a pre ipo based on Aug update. Nice. But wait the IPO is delayed, better sweeten the pill with a two line update referring to "commercial approaches".
The great thing about the phrase commercial approaches is it can mean anything. It can also go away just as easy.
Weak stuff this is. Delay delay delay. All the time the money is shrinking.
All the evidence points at the clinical trials being irrelevant. Lets face it your hopes are based on what a MSc student project? You know the one who publication was just around the corner years ago. The student has long since left, and the supervisor no longer wants to talk about it. A project that was tiny <30 and non comparative?
Or perhaps you are referring to the 'high end german clinic', the trial we know nothing about, and there is no evidence that it is even associated with any kind of scientific institution. These are not high end trials that decision makers are looking for to put million on. There are not even officially registered
https://www.ukctg.nihr.ac.uk/
https://clinicaltrials.gov/