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I agree RKB .
Correct me if I’m wrong ... I’m sure you will .... but I was speculating the large amount owing ( due within one year ) in the accounts of B.A ( brainspark associates)oif around €40m is a paper valuation of land assets made by CLP around 2012 and transferred from the books of CLP to BA? The amounts are similar and mostly refer to the valuation of Italian land assets at the time. As both mediapolis and Sipiem are in liquidation there can be precious little of value left .
If that scenario is not true then to whom is the €40m owed by BA due to?

I had always been under the impression from peoples postings over my years following this rather interesting case study, that one of the plus points of FG was he only took a modest salary of €30k received in shares, and therefor the good performance of the company (and share price) would be of more significant benefit to him than might usually be the case . I was quite surprised to see he was renumerated to the tune of €294,000 (including that amount received in shares) in 2018, up form €161k the year before. Of course its always been there in black and white, so I guess I am as guilty of not researching this as most others,( with a few exceptions.)

An Italian Werewolf in London

The farewell .

‘and’ C LP

Is there an ongoing direct link between brainspark associates Clp , other than shared directors ?
I notice brainspark associates is running at a very substantial loss .

Lots of connections when one looks: e.g infusion 2002 Ltd / gardin/ geosim .

Stewart Dodd ?

Judd Dread?

Interesting RKB. I’m not sure where your line of investigation is going but I looked up easyart holdings and realise I personally know one of the directors of king and McGaw who seem to be the outfit in its current guise.... unless I’m up the wrong tree here...?

For me I would ask the questions, a)was the investment in Forcrowd (in shares @ 0.3482p) a worthwhile investment in the first place, regardless of of what Forcrowd have done with their shares since and bearing in mind that they only get 90% of the difference. CLP couldn't invest in cash as they didn't ( don't) have any, or issue new shares in a placing as the price at the time was below nominal value.
b) Did Forcrowd intend to sell somel all along, but presumably at a price higher than 0.34 bumped up by the Mediapolis money landing, or are they doing so now because they are in financial trouble and can't wait 6 months for a more positive share price.

They are probably just hedging a portion of their investment as the future for CLP remains less than crystal clear, as does the future of Forcrowd, although one can't preclude it all being a great success.

Or 1769400 ? ;)

It may not be delayed further but it is only ‘expected’ to be early February . When a date is given by the courts I would expect it to be RNSd.

This from the business update at the end of August:
“ Initially, the new board was successful in its negotiation with the management of TLT (the owner of Ondaland water park) to be legally recognised as a substantial shareholder in the water park. However, a final agreement has not yet been reached and the Company has been exploring a number of options with its legal advisers.”

Since then CLP has bought the claim for €50,000 and would get 70% of any successful settlement less certain costs .
This is undeniably better than having to fight for legal recognition if Sipiem had been successful , and CLP would get 70%not 50.14%.
However none of that gives any indication on whether there was a case to answer , but some further information may be forthcoming at the initial hearing next month , although don’t be surprised if it is pushed back again....

The receiver/ liquidator would normally distribute funds at the end of the process , except in certain circumstances they may forward up to 80% before the whole winding up process is complete.
Most people ( myself included) would conclude that CLP would qualify for an early distribution of 80% as they had first charge over the land and the auction process has been completed and the money received .
However we have no idea what ‘ certain circumstances’ means in this case and the strong suggestion from previous RNS’s ( to my mind) has been that CLP expect to have to resort to lawyers again to get an early payout rather than wait for the conclusion of a process that may yet take years ....
On the Sipiem /Ondaland claim... Feb is an initial hearing . It may yet be thrown out as clp has yet to have full legal recognition as to its 50.1% share ( again buried in last summers business update) . Buying the claim may or may not prove to have been be a wise move .

Please be advised that major news is incoming .....
It is expected that several times tomorrow a poster will report that major news is incoming . This will be repeated ad-nauseam . In addition it is also anticipated that another poster will make occasional references to a mythical Caribbean character. It is also distinctly possible that several posters will start to openly question their investments by blaming the person(s) the have mostly held in high esteem for a) lack of news (FG)and b) leading everyone up the wrong tree (RKB)

But please be assured news IS incoming and that everything will be ok in the end..... probably .

Nice tick up this morning

Thank you RKB and KnigelK...I wish you both a very good Christmas and prosperous New Year too.

I note my point was considered valid. In fact I have always said pretty much the same, and yes I did invest here, but knowing I might never get my money back, and lately was just trading to recoup loses incurred as this has tanked over the last year. All this is on the record and I feel lucky to have got out roughly all square, although if I went back over every trade I would probably still be in the red.

I think there are positives here, but in my mind the risk reward has tilted towards risk more, mostly because of the delay in getting cash in, whilst debts with eufingest slowly mount. The jury is out on the new ventures.
CLP are indeed lucky to have such backers, but that inevitable leads me to speculate how much benefit ordinary investors will receive when (or if) things come good and the money piles in.

At least the sp is not quite on the floor now (like my other share) so good luck for a continued rise next year.

I'll wake up when the Mideiapolis money actually hits CL17s accounts...(and I could really do with a long sleep ;)

Because if they don’t extend CLP very likely go out of business and they don’t get their money back ...

If you look at the time stamp it was probably a buy Mike. The system displays as a sell because at the time it was released 1.4 was the bid .