The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
There was a poster "Miura" who put forward the engineering rationale on exactly why the boiler wasn't feasible. He was denounced as a "shorter" by Graham Wales. Popgoestheweasel even had the imbecilic audacity to try to counter Miura points and in so doing proved his inferior mind. Who knows perhaps Miura is reading this and laughing.
So you believed a company you knew to lie? And admit it publicly?
But when you "smelt a rat" and sold you didn't share your fears.....and came back and ramped a company that smelt of rats....and yet here you are casting moral judgments. .
The people who posted on here back in November 2014 and claimed the boiler didn't work were denounced as "trolls" by Graham Wales et al. The shame is on those who lied and those who pedalled lies (rampers) in the pursuit of profit. Either working for or with the company.
The excuses don't really matter as its clear that in November 2014 the mCHP boiler that could "pay for itself" and the subsequent RNS increasing production from "360000 to 500000" were fantasy and released to stimulate the share price and extract cash from the market. Any case would focus only on the RNS released in late 2014 and the lifecycle state of the boiler at the time those RNS were released. What happened after with "soft launches (???)" and all the other drivel is of no importance. A case would only focus on late 2014 and those two RNS that saw the SP rise to 49p. FORTY NINE PENCE. Investment carrying risk would be no defence against misleading/untrue RNS statements.
The very notion a judge or jury would allow deception or fraud to raise funds for a business so the directors could drive Bentleys and earn bonuses is laughable. I suggest if anyone has been given this advice they should get a new brief. Obtaining money by deception is a criminal act. I heard the legal system places great emphasis on honesty,
Except of course Flow wasn't an asset, it was just a sham. A farce. A joke. And the reputation of those who worked there is cast.
Given this is finally over, and it seems certain the November 2014 RNS stating volume production, or any production,had been initiated was untrue or misleading, it might be a good idea to create a Facebook page to post any evidence ex-employees, suppliers etc may have that no production of fit for purpose boilers began, or could have begun because this boiler was fundamentally flawed in both concept and execution in November 2014. Then private individuals or institutions can review that eviodence and take what action, if any, they see fit against whomever they feel responsible.
let us ignore the blatant attempts to distract from what matters to private investors. There is no return in thuis and your loss is total, so the only question that is of interest is were you defrauded and did the company willfully mislead to manipulate the shate price? We know the mCHP boiler has never appeared, and that magian was having" prototypes" "installed" long after volume prodcution had begun. No one produces protypes in volume. We also know that the exploded view of the scroll in Tony Stiffs share pitch could not work, and was evidently a reversed Sanden TSR automotive compressor,and that no IP relating to scrolls was relevant. So depite attempts to distract, all that matters is were you decieved. If Tony Stiff is being questioned under caution, he may may difficult questions to answer.