The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Just received an email from Stuart.
Nice post on LSE good to see shareholder doing good research and detailing facts.
Go to Innomed Tech web site again down load 2020 Audited Financials View Item 8 shares issued to CIC Capital Ltd.
Again Item 8 look at “"Shares Issued for No Consideration”
These shares are to create a shareholder base from CIC Fund share holder base.
Look closely at item 10 and foot note.
Kind Regards Stuart J. Bromley
I looked and this is what I found..................Everyone please look at https://www.innomedtec.com/copy-of-about
I also noticed that the Long Form Prospectus is dated December 12, 2021, so they could be close to listing.
FROM ITEM 8
"On April 15, 2020, the Company issued 3,103,448 common shares plus a full warrant
exercisable for one common share at $0.29 per common share on or before December 31,
2025 as consideration for professional services of $900,000 received from CIC Capital Ltd."
"Shares Issued for No Consideration
During the year ended December 31, 2020, the Company issued 6,927,826 common shares
to certain individual and institutional investors for no consideration, but these investors are
required to purchase 5 common shares on the market for each common share issued to them
when the Company is listed on a designated exchange. The shares issued were recorded at
fair value, with corresponding increase in deficit. The fair value of the shares was based on
most recent arm’s length financing transactions."
FROM ITEM 10
"Purchase of professional services
from CIC Capital Ltd., a shareholder in 2020 (i) $ 1,000,700"
"Purchase of professional services from two
minority shareholders 47,125"
"(i) Of the professional services, $900,000 was paid through the issuance of common shares and
warrants. See Note 8."
Some links to look at.
https://securlinx.com/announcements/
https://intosolholdingsplc.com/wp/
https://pearlislandbahamas.com/
https://detroit-electric-group.com/en/company.html
https://solenal-americas.com/
Their website. https://www.innomedtec.com/
Management, Directors and (taken from the Long Form Prospectus) (some familiar names)
Officers:
Name Position
Robert Leslie Rhodes Executive Director/CEO
Terrence Larkan Executive Director/CFO
Dr Marshall Walker, MD Non-Executive Director
David Toyoda Non-Executive Director
Billy Williams Non-Executive Directo
From the MD & A FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021
"The Company transferred the majority of its Patent Applications to CIC Fund Securitisation S.A.(Luxembourg)
as part of the process of securing debt finance of initial Euro €10,000,000."
TRANSACTIONS WITH RELATED PARTIES
The following transactions occurred with related parties during the year as at September 30, 2021:-
2021 2020
Monthly Retainer agreement professional services
from CIC Capital Ltd., a shareholder in 2020 $ 144,000 $ 1,000,700
Purchase of professional services from three
minority shareholders 34,598 47,125
Here is part of an email from Stuart that I received last August.
(About Innomed Tech)
"That company CIC pulled out of a huge hole. The value at listing might be ok but if patents get approved then your looking at CAD$20 tocad$68 per share (measured against peers) CIC Securitisation S.A (Luxembo approved securitisation entity has devivered EURO10 million with anther 60 million avaiabe on call.
Please note the web name WWW.Securitisation.com This if sold would fetch over Euro 7 million. I not pulling your leg here. www.Fund.com which I owned and sold to a major bank sold 8 years ago at US$9.8 million.
CICCapital.com has a multi million offer from the large French bank CIC Capital which I will not sell. I hold over 90 high value domain names which I registered way back in the early 11900’s."
I would be happy if he sells CICCapital.com after all it does belong to us shareholders and sends us a cash dividend.
And change the names of the CIC companies to one of his high value domain names.
Surely Stuart could give us a little news each week. Would only take a little of his time. He could use the time he is sitting on the toilet if that's the only time he can spare from his busy schedule.
Patience, endurance, fortitude, stoicism imply qualities of calmness, stability, and persistent courage in trying circumstances. Patience may denote calm, self-possessed, and unrepining bearing of pain, misfortune, annoyance, or delay; or painstaking and untiring industry or (less often) application in the doing of something: to bear afflictions with patience. Endurance denotes the ability to bear exertion, hardship, or suffering (without implication of moral qualities required or shown): Running in a marathon requires great endurance. Fortitude implies not only patience but courage and strength of character in the midst of pain, affliction, or hardship: to show fortitude in adversity. Stoicism is calm fortitude, with such repression of emotion as to seem almost like indifference to pleasure or pain: The American Indians were noted for stoicism under torture.
The Kenya people work for another company with a similar name and nothing to do with our CIC Capital.
Blame Linked in for the mix-up and Stuart for picking CIC as a name for his companies.
https://www.linkedin.com/company/cic-group-limited/about/
Stuart on Linked in.
https://www.linkedin.com/in/stuart-j-bromley-94124414/?midToken=AQGYVWWrnOexxA&midSig=2bbCLr2uHSgG41&trk=eml-email_notification_digest_01-settings-3-prof_photo&trkEmail=eml-email_notification_digest_01-settings-3-prof_photo-null-1i0j60%7Ekxqtse8b%7Emt-null-neptune%2Fprofile%7Evanity%2Eview
So, another Christmas with no cheer. No turkey. Just corned beef on dry bread and a glass of water.
Post by bottomsup 8 May 2014 (his last post on LSE was on the 27Nov 2019)
"Tianjin Energy Group Limited ("Tianjin") Under the terms of its advisory agreement CIC is due to be issued with up to 6% of the enlarged equity of Tianjin on its IPO. Tianjin, an oil import/export company had turnover in 2011 of RMB 11.2billion and profits of approximately RMB260m. The company has recently been awarded oil port terminal and bunkering rights in China which the Directors believe to be the only private enterprise in China to be granted an oil terminal licence. CIC is providing restructuring and capital raising strategies to allow Tianjin to list on a prescribed exchange to raise the capital for the building of oil terminal and bunkering at which point it will have earned its Interest."
As Tianjin appears to be still a private company CIC's efforts appear to have come to nothing.
http://www.tjny.com.cn/#1
I presume this was part of the Sino Reserves CIC investments.
" CIC Capital is unaware of shareholder details if their shareholding is held through a broker or nominee unless the beneficiary makes themselves known through contacting the Company."
"CIC Capital on average earns US$1,400,000 per client. Income is greatly enhanced by holding client shares for a period when client cash flow are assets increase over time."
AST share registrar is now part of TMX Group who run the Toronto Stock Exchange.
https://www.astfinancial.com/ca-en/news-events/newsroom/news/tmx-group-completes-acquisition-of-ast-trust-company-canada/
Stuart sent me this on 7th June (I could only copy the text )
I hope I am wrong about my earlier assumptions.
CORPORATE UPDATE REVENUE JUNE 7, 2021
Our team delivers a high level of transaction advisory expertise based on multi-jurisdictional business experience over many years, integrated with long-term strategic outcomes paid in the majority, in equity in client companies based on success.
Directors
Robert Rhodes - Australia (Chairman)
Terrance Larkan - Australia
David Toyoda - Canada
Inge Leutscher - Geneva
Li Honnguang - China
Stuart J. Bromley - UK (CEO)
5 to 1 indépendant directors
Revenue Summery
CIC Capital started providing transaction advisory services from February 2019. All client engagements are by referrals from law firms, audit firms, regulated fund managers and regulators. CIC Capital does not market its transaction services.
Revenue is earned in five main Transaction Advisory services by client:-
Equity in client entity in the form of common voting shares;
Warrant for every share earned;
Cash at minimum ten percent (10%) of total value of Transaction Advisory - average US$160,000 to $380,000;
Additional client needs namely marketing, legals, litigation, dynamic media etc; and
Post trading by the client on market buying agreement US$140,000 per transaction;
CIC Capital on average earns US$1,400,000 per client. Income is greatly enhance by holding client shares for a period when client cash flow are assets increase over time.
CIC Capital revenue since January 1, 2020 to date is cash $1,650,000. Tradable shares of stock exchange US$550,000. Non tradable share value to date conservative US$23,000,000 (not reflected in financial statement unless actually trading).
Our focus
CIC Capital mainly services clients undergoing securitisation (www.Securitisation.com) particularly in medical technologies or high technologies.
Share Register
Despite being a non regulated entity CIC Capital has appointed AST share registrar (regulated entity) at a cost of US$650.00 per month since inception. CIC Capital has engaged auditors to review all share dealings to ensure no self dealing in shares, warrants or options. CIC Capital is unaware of shareholder details if their shareholding is held through a broker or nominee unless the beneficiary makes themselves known through contacting the Company.
Corporate Governance
CIC Capital has instituted a comprehensive Corporate Governance Manual to which all directors, management and staff must sign on an annual basis.
www.CICCapital.com Stuart J. Bromley +44 (0) 731 14 000 14
Key service organisations:
PACIFIC STAR CORPORATE FINANCE LAW
CIC Capital Fund Ltd is a registered Luxembourg securitisation S
Took another look and noticed that we received free shares in CIC Capital Fund Ltd and as far as we know it is to be closed.
CIC Fund Ltd is a different company and I presume it is majority-owned by guess who.
It looks to me that CIC Fund will earn most of the fees and CIC Capital Ltd will get the crumbs.
I hope I am wrong.
https://www.securitisation.com/copy-of-securitisation-platform
CIC Fund Ltd is the Asset Server and the Trustee and the Calculation Agent on the Securitization Parties page of the CIC Fund Securitization S. A. internet site.
Some nice video's to watch tonight.
https://www.youtube.com/watch?v=9bdx5XdEbYo
https://www.youtube.com/watch?v=kjk2jJGrgXQ
And the story to read.
https://www.otcmarkets.com/stock/POETF/news/POET-Technologies-Launches-Its-Products-and-Optical-Interposer-Platform-in-China-to-Critical-Acclaim?id=322773
Sorry, nothing new to report. Need to give him more time.
A little weekend reading for those interested in USA/Canada stocks.
https://www.reddit.com/r/pennystocks/comments/pq29bm/poetf_poet_technologies_inc_will_become_the_next/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
A stock idea. Poet Technologies. Great write-up. https://www.reddit.com/r/pennystocks/comments/pq29bm/poetf_poet_technologies_inc_will_become_the_next/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Dear Ian,
Just an update. We are still working to deliver financial statements for you on CIC Capital Ltd.
We are exceptionally busy with client demands on our financial staff and will update you when we are near. Clients focus is first but your request is important to us to address.
Kind Regards
Stuart J. Bromley
Yes............What Stuart is telling us does not make much sense.
We need clarity from Stuart.