Member Info for jazzyjim

Sharebel you say "why our foes went to all of the trouble to play this game - money and big profits".

Problem is the game has already been played and it is game over now. What specific scenario do you see happening to return any value to shareholders?

"Yes, and why no RNA to say they do not know of a reason for the drop?"

Everyone knows the reason for the drop. Bondholders forward sell shares and then a vwap conversion appears. Rinse and repeat. Pity our experienced leaders didn't notice this and the damage it was doing or they wouldn't have went back time and again to lower the conversion price. Does anyone here believe this was incompetence. I don't think any 'reasonable person' would believe that either if it came to a civil trial.

Technically they didn't sit back and watch peoples lives ruined, they were working very hard to ensure those lives were ruined so they have done a tremendous job. I think the term for these people are greedy, immoral sociopaths.

Don't think there will be any bond reset unless they are forced to do it by legal action. Plus to do that would be an admission of wrong doing in the first place so not going to happen

Firefly, it is risky. Depends on what you think they can sell asset for. The BOD have said it would not pay for the $135 million debt but they are a bunch of fraudsters so who knows

Tosca didn't buy any shares. 1 billion shares were created and given to them for bond interest on previously converted bonds. They are now trying to sell them into a market creaking under an avalanche of bond conversion shares. The sp is only going one way now

Sharebel, could you elaborate on the scenarios that give a great deal of value here?

"No one knows. You could ask why are people selling this"

Because it is very likely to go bust in the very near future and shareholders will get nothing if we are to believe the BOD about the asset value being less than debts. On the other hand if it doesn't go bust there is still the issue of bondholders converting 10's of billions of shares and selling the sp down to practically nothing.

Art had a large number of shares. After he moved off the BOD could these have been sold without any declaration? This would still be insider trading surely. Is there any way to find out if these were sold?

No Anavio has been diluted from bond conversion. Something us shareholders understand only too well

"The Board is also exploring ways to allow shareholders and other investors the chance to participate in an equity placing."

Who in their right mind would participate in a equity placing now with potential dilution of lord knows how many billions of shares from bonds. If you went for equity placing at 5p and left bonds on 16p conversion price instead of resetting all bonds to 5p loads of people would have been interested. You chose then to put bondholders before shareholders.

It is just the usual bondholders trick of forward selling shares bringing sp down then convert at vwap and get 1bn shares for 1 million. Bond deal was great wasn't it Art and Ryan. Relax just another billion shares, nothing to see here

Yes they watched the forward selling and conversion of bonds to bring the share price down then shares issued at vwap time and again. They witnessed forward selling to drive down the already agreed price of 4p to 2.6p and still did not look at alternative financing. They forgot to seek financing until after default on more than one occasion. This was fraud. There is no other rational explanation.

Even if he did sign up to this crap deal in the first place going back time and again lowering the conversion price on multiple occasions was beyond incompetence. No way that was the best option.

Those mugshots remind me of Crimewatch. If you see any of these individuals phone the police immediately. Don't approach as they are extremely dangerous to your wealth.

Definitely up for the revolution against the Bourgeoisie. I can think of a few that should be first in line.

On a more serious note you are correct that the general populace absolutely hates when Cayman Island hedge funds and their corrupt fat cat mates get together to transfer wealth from average hard working people to the few. That is why I think a civil case would be very fruitful even with only circumstantial evidence. The outcome would certainly be difficult to predict.

There is no immediate future or any future here. The 1 billion shares for $1million interest tells us that. No idea why anyone is buying the shares now. The bondholder will forward sell shares down to practically zero now until the final collapse. What they have made already and what they pick up from asset sale will mean that they will be in profit. Shareholders will be left with nothing of course. Do the criminals in the BOD and the ones that have run off to hide still think bonds were the best option? No it wasn't incompetence on their part, it was fraud.

Stas, so if that is the case and the 1 billion barrels was true but if the RS report did have a number of contingencies that would have affected the value and this report was not released the question would be is that illegal. I am sure the JV partner did see the report and continued negotiations but could be that the value being discussed was a lot lower because of this. The problem is we will never know without a civil legal case being taken. It is obvious that the FCA etc are worse than useless.

Where is it? Over 600 million shares went to someone and we have no idea who. No transparency. This stock market is not fit for purpose.

WyBasedhere - Indeed I have worked out that even with heavily discounted placings the number of shares today would be a fraction of what we have in issue and that isn't even taking into account the outstanding bond debt/potential billions of shares future dilution. Bond deal with Anavio the best option? Going back time and again every few months to Anavio and resetting the price for ALL bonds. Best option. Really? Did they really seriously look at alternatives - so far we have got something vague about talking to two brokers but I am not convinced. Also an experienced CEO and CFO seemed to forget that they needed finance until after default then went to Anavio to reset bonds after the SP crashed. No reasonable man would believe this was just incompetence and if you don't believe it was incompetence it must be fraud.