Member Info for KAMEL17

i'll ask again How many turbines do we own that are worth £15m each do we have? Do i expect a reasonable response ? No - because this idiot is just that. I do not have his other idiot friend on filter although his posts are just too repetitive to bother reading. The boredom filter in my head auto ignores that clown. So go on Flightman - do you know your £15m times table? Thought not!

http://www.eccourts.org/unicorn-worldwide-holdings-limited-v-bluestone-securities-limited/

"I'm surprised that the market has responded so positively to the RNS - anyone with any knowledge of the Co and its relationship with Radix would not have been in any doubt that an extension would be granted, if necessary - it has always been so." Radix are secured up the hilt and I seem to recall you saying that they were providing "mates rates" (at 1% a month!- some mate that would be). The extension or renewal here was not perhaps as certain as you have alluded to. Indeed - how do we know that the terms of the extension are not wholly punitive? The news is welcome nonetheless and in my opinion the uptick in the sp was understandable. The attitutde of both Bluestone and Unicorn - if they are fully secured- is a much greater safety net than the actions of the Administrator. As the principal creditors, the duty of care owed to them shall result in them having a considerable influence over the eventual outcome. Unless Bluestone or Unicorn fancy their chances at receiving a better outcome from an insolvency they'd probably be forced, funds permitting, to stabilse their "investment". I see too that gfd now acceptsthe possibility that the price has been engineered downwards on purpose. Maybe he is the fifth columnist now! It is not outwith the realms of possibility that somewhere within the somewhat opaque picture that Radix is incestuously linked to these creditors. My concern with Radix has always been that it may remain in place simply to act as mechanic to knock the company over before some form of pre-pack. I'm pleased that there is a little more clarity over the funding and hopefully Mr Morris will feel inclined to update us further in the near term as news from the Company is long overdue. Kamel

Phew!

JN998, There is of course a danger of placing any reliance on a document prepared by Mr Emson for three quite specic reasons namely: 1. In the Statement of Affairs, the realisable value of the shares has been inflated well beyond the price at which the stock traded on the day the document was signed. In addition the figures represented as the sums due to creditors appear to have been understated. This just looks like Mr Emson trying to justify that Sterling Trust was in a much less parlous state that it was. This is perhaps to attempt to resist any allegation of knowingly trading whilst insolvent. 2. Mr Emson, as the Chairman of Rurelec, countenanced some news releases that could charitably, at best, be regarded as enthusiastic hyperbole and less charitably as outright lies. 3. The Accounts were a disgrace and for there to be disposals of subsidiaries (that they cannot provide the Administrators with proper details of) and £14m of unverifiable debtors expected to realose only £1m...hmmmmm. 4. None of the other Directors put their name to the SOA......hmmmmmm again. This is just a pile of crap that requires little time spent on it and any reliance upon it would, in my humble opinion, be a little unwise. Treat it a shaving as little credence or relevance as it deserves. EM20220, You seem to have been cut off in your prime as you posted. Pretty fair summary although the point you raise about Chile and the turbines is perhaps too dismissive of the underlying asset values. Of course, it may just be that the Chilean opportunity is as lucrative as the Peruvian escapades i.e a total waste of effort and this may result in inadequate investment returns for a provider of finance I'd have to say though that it really must have a reasonable value though. Where permissions/ tender and licence applications are granted (or even in process) these can often be derailed if the applicant cannot demonstrate solvency and this must be considered too. Perhaps some of you will get the time to investigate the "family tree" with some of the parties noted by DSW as it'd not take too much digging to unearth some interesting relationships. Oldie may assist if you ask him nicely as I feel that he has already joined up the dots. EM202020's comment on EdS is also important as any dealings with them and our ol' pal Peter Earl are likely to be unrewarding. This man was no friend of ours and any involvement with him is likely to be as welcome as four year old with the runs in a paddling pool. The one thing the DSW report does perhaps do is to give an indication of the mindest of the Sterling Board and the boardroom coup at Rurelec may simply have been a function of their desparation raise cash via Rurelec to stave off Bluestone (and if it was that'd explain parachuting Mr Keegan in).

https://beta.companieshouse.gov.uk/company/01761400/filing-history

optimist13 That being the case and everything is seemingfly so straightforward - why has the Company unable to pay Ethos over the last six months despite undertaking to do so? I know that I have been somewhat confrontational and dismissive of some comments made on here (actually a ferw hundred of the "fluffy bunny" variety) and I have been unfair in dismissing your views quite so vehemently. The denomintion of the loans is of course important (and fundmentally so) but as always in business the old adage of "cash is king" is currently of more relevance. One only has to look back through the history of this company to see the chunks of impairments and foreign exchange losses to see the exposure. The effect of these items has never been anything other than adverse. Who do you expect to play hardball with Eds - please god do not tell me that you think an Administrator would, as this is just never going to happen. As it stands there is no-one either capable or perhaps even willing to pick up the cudgels. Your concentration on the positives out of the recent political changes and the upcoming devaluation and re-setting of the dials to allow Argentina to trade freely again is of course understandable as it is the single piece of quasi-tangible goods news that we have. Please appreciate that I too hold out hope for a positive outcome. Our views are actually not that different other than the fact that you have a propensity to "sugar coat " the opportunity whereas i have a much less sweetened view here. The sweetness disappears the longer you hold this and my holding is only around half of yours but probably cost around 3.5 times what you paid. If you are prepared to forgive my rather unfair treatment of you - I'd be happy to see this one through with you and others to its conclusion whether that's a nice uplift in the SP or to join virtual hands and just sing "auld lang syne" Happy Christmas to one and all. See you all in the New Year Kamel

Spac3y, There can be little doubt that a devaluation of the Argentine assets shall occur and it's only the quantum of that devaluation that is uncertain. Longer term - the Eds business has a good future and there can be little argument on that front. The near term is however likely to be frought with difficulties. The major one from Rurelec's perspective is whether it actually has the available cash to pass to Rurelec. You, like me. have been concerned about the immediate cash position for a considerable time and this is where the business is at risk. They have been scrabbling out for cash for over two years (without any real success) and the disposal of assets to ease liquidity must have been visited umpteen times. Book values for assets are all well and good but are of no real relevance if they are incorrect, fanciful or if the assets have no buyer at all. The apparent lack of urgency shown by this BoD just reeks of them having given up or concentrating upon a "clever" recovery. Regrettably, neither of these are in the stockholders' interests.

Even in a distressed sitaution and an Administration the achievable value would have to be around £20m or so. Of course the costs of any Administration coupled with the fact taht there is only a limited number of buyers is the unknown. Would you get 3p after an insolvency event? the short answer is that i have no idea and no -one really does. Gfd's calculations were well thought out and he put forward an excellent reasoning behind his assumptions and i'd not pick fault with any of what he posted. Indeed on an entirely rational basis his figures were absolutely sound. The problems with insolvency events is that often breed irrationality, greed, stupidity and result is poor outcomes. Along with everyone else i'm hoping for a third party to come and rescue this before the proverbial hits the fan. This is looking less and less likely as time passes. All is fair did indeed call it right although his thought processes in arriving at his conclusions were pretty flawed so I'd not beat yourself up over not taking his advice. Whether this flourishes or flops will be known soon enough. The lack of a figurehead just causes me to think that the entire BoD were and remain incompetent, dishonest or both. Neither Mr Morris nor Mr Rowbotham having the gumption to release an RNS speaks volumes as to the lack of their integrity. for that reason no-one within the company is batting for us and in that regard this is just a zombie company with no defences. This is all really sad and i can only conclude that the former owners (and it had better not be that lying scumbag Earl ) are going to engineer a purchase to our detriment. IPC was already given to this POS for free and he too has exhibited ZERO integrity. My own investment decision was flawed mostly based upon believing a single word that that scumbag uttered.

It's not me who is deluded though, is it? I'm not bitter - I'm just amazed at the rank stupidity of a pair of clown on this site.

"Made plenty of money though!!" Reading from your ridiculous postings - that's hardly likely. #deludeddonkey

The age old retort of an utter muppet is that anyone with an opposing view is a shorter. What kind of paranoid idiot would default to this stance rather than face reality. This clueless numpty with an intellect limited to what he is able to copy and paste appears to be just a ramping idiot devoid of any ability to see beyond his own delusion. i'm sure all that you have posted (or should I say copied) from news reports is sound. Why then is the share price not moving upwards as i'm sure that you'll feel that Eds wil be sending a massive $2m transfer today?

You will see, if you bother to look back, that I do hold a considerably large holding and have done so for quite some considerable time. Over that time i have accumulated a depth of knowledge in relation to this particular company that allows me to consider things properly - as opposed to the utter nonsense that you are spouting. You are an ill informed idiot who has no analytical skills and considers that if you post your rather one sided, very simplistic and quite frankly stupid view enough times that it may come true. You have posted hundreds of times on this board and have managed to say nothing of any value whatsoever. Is an Administration possible? Well, of course it's possible although the source of it may not be from either Radix or Ethos as both of these creditors are probably secured, I'd assume Ethos have some form of undertaking from the Company even if it is not a formal security. Radix could quite easily move up the lending to "Wonga" rates and based upon the current cash position the Company has no defence against this. No doubt you'll tream up with your numpty pal and post a screed of articles about Argentina and end up getting all excited and sp**king over each other at the prospect. The reality is that even allowing for these changes the transfer of funds from Eds depends upon a number of factors, any one of which could at the very least delay any transfer well beyong the date in which the funds are needed. The business has no leader and seemingly no-one to even step up in the meantime and a Nomad that has been utterly useless for years. Any Nomad worth their salt would have advised suspension to protect the shareholders.This ommission simply illustrates the Nomad is either corrupt or incompetent. In the absence of any news it appears that the remaining Directors are happy to draw salaries without any accountability. You ought to consider that an insolvency event may not be the worst outcome here. For sure - it's not a particularly desirable outcome but it may be immeasurably better than the alternative. Radix,IMHO, is controlled indirectly by a someone with an intimate knowledge of this business. The loan is simply a lever that allows them to exert undue pressure and call the shots. The company will continue to launch bad news at the holders for around another six months and the SP will remain at these historic low levels. On or around June 2016, when the Chilean projects have been allowed time to progress (in the background and with no news to shareholders) the company will be taken private at an extremely low price. The offeror will only have to offer the equivalent of the highest price in the last 12 months and the "consortium" of holders will strangely have amassed a collective holding allowing them to take the company private relatively un-opposed. Only an absolute idiot, of which you are one, could not formulate this in a matter of minutes. Just stick to your cheerleading and

I see that our now daily contributions from the two ramping idiots continue unabated as the Company lurches towards good ol' Santa Radix wrapping up his enforcement notice. These utter clowns have absolutely no clue and you would think that these "experts" would have bothered to read the historic RNS's before posting such one sided drivel. Even the old brigade do not bother to respond to their moronic monologues and goodflyingduck, who would previously have posted thoughtfully at length, just disregards them it seems

These contemptuous b*******ds have done it again. The SFO should be called in here before holders are inevitably scammed enntirely

Swooped, You're absolutely right about Mr Keegan's position and the impact of this decision has created, hopefully temporary uncertainty, whilst the story unfolds. There are a few different scenarios that may have played out here. 1. He may have just given up for a whole host of reasons such as lack of potential remuneration, lack of faith in the business or quite simply it may just be beyong his capabilities. FWIW, I do not consider these the likely option. 2. A third party has effectively rested control and has ousted him either formally or he has simply "spat the dummy" or perhaps it was a precondition of ant purchase of the 53% block of shares that Mr Keegan cannot exercise any influence at all. This is possible and it should perhaps be hoped that it's the former - simply because it would explain the rather unprofessional position where the business is left apparently rudderless. If no RNS is issued in the morning (and I'm hoping that it is not the case) then the shares should probably be suspended. The fact that this share is potentially just over two weeks from a loan default and no firm funding is in place would in most cases warrant a suspension when the boss walks the plank. The absence of a suspension must surely permit at least the hopes that the remaining Directors and the NOMAD remain comfortable and that a positive piece of news may be imminent on the short term funding position. Fingers crossed!

Mr Keegan will periodically look in here and marvel at the nonsense that has been spoken over the last month or so. Flightman in particular must provide him with endless chuckles with his particiular brand of idiocy. My father would have named you tonto engañado and he always told it as it was.

The latest contributions indicate to me that it is not the Bod who should give up. I thought that the average IQ on here was at an all time low when poor ol' jeddicat thought this mob had forty five million in the bank. How wrong could I be? We now have Flightman regurgitating his phlem daily in the form of his utter dribble. Does he genuinely think if he says it multiple times it'll come true? We also have the good ol' quack dispensing business tutorials to the BoD. Whilst a lot of what he says is eminently sensible it just comes across as condescending and that is not going to assist him in actually getting any responses. Take it from someone who frequently and easily "rubs people up the wrong way" as a matter of course wthout ever genuinely intending to do so. My "style" is often disliked but never exists when I need to get someone on side. Lawyers dispensing business advice is seldom welcomed by business people as it invariably ends up in an oversized bill (I'll refrain from any reference to a duck with a big gob) as it'll no doubt offend. AGAIN Mr Keegan may be your only friend here, whatever his motives, so please cut the guy some slack. Even if you think he's an incompetent clown (and I favour the opposite view) then what do you expect to happen this side of Christmas. It's now at this stage he'll either deliver or not. As for the inability to trade automatically above 10000 shares - please god do not tell me you think that's good - it probably just means no-one wants to hold them unless they really are really forced to. Kind of like me SIGH!

Was Mr Keegan questioned on the IPC disposal either fornally or informally and if so, how did he respond?

Without a credible source of funding it must be inevitable that this will be bought out,. The only real question is the terms of that buyout and whether or not it is preceeded by an insolvency (which strangely and counterintuitivey may not be the worst option). Aside the possible changes in Argentina, which can only help, is the proposition to lenders all that different to funding proposals that may have been made in the last two years except that the in house expertise has now gone. To hold a contrary view would in my view be somewhat irrational.