RE: How to explain we have lost27 Apr 2017 23:38
Doc
I will try to explain what I feel has happened, some will be facts and some my opinion.
Aston ventures took over from David brown after the old management struggled to raise the money required to keep it afloat.
They set about seeing exactly what funding was required to get it break even , the sum was approx £20mill. This would allow them to cut overheads pay down debt. They also offered shareholder who had loaned the company ,only the option to turn it into shares at the same hugely discounted rate of 50p plus a free share/warrant and the option to buy another share at exit at 50p.
To be fair this was a ridiculous discount to the £2.50 paid by concha.
This is where the waters get a bit muddied, apparently their were large share holders that had asked for information that was not forthcoming so they withheld investment. That information ( apparently ) was only given to them a few hours before it went into the hands of the administrator so they had no time to deal with it.
I'm sure for the sake of £20 million enough shareholders would have raised the money to stop losing everything. Remember, first and foremost this is a unique company with potential to be worth in excess of £20billion.
So the questions that remain unanswered is why was the money not raised, because not enough information was disclosed ? Who is the only beneficial of this ? Aston ventures, they now have an unbelievable company with no debt for £18 million and no shareholders. I also believe , but can't confirm, it is only rumour, that another shareholder who was willing to invest , pulled out but has now joined up with Aston to invest.
Whether this was a classic pre pack made to look like they were trying to get investors in you will have to decide.
Whether this can be overturned in the courts I do not know, I do know they are messing with some very powerful shareholders who will do their utmost to sort out this nasty situation.
The sad thing is some very ordinary people have lost all their life savings because they were promised the earth by ridiculous valuations being banded by the previous management.