The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
In the coming weeks, we will be seeking to open a bank account in Canada so that all future transactions will be conducted from that account. We have chosen Canada to minimize currency issues. This will make the FS more readable. CIC will continue to provide a simple cash flow summary that is easy and transparent to read.
Kindest Regards
Stuart J. Bromley
+86 136 0113 1912
Dear Ian,
I am pleased to provide an update on CIC Capital Ltd revenue and cash flow.
I have received a number of shareholder phone calls and the recently released third quarter financial results 30 Sep 2019 reflect our client activity.
The revenue both cash and shares summary is actually on the companyâs web site:
Investors Tab â Revenue Summary to 31 March 2020â
The link is as follows:
https://docs.wixstatic.com/ugd/a6bced_3b3ac87b6ec644238a2c56bbb4625bcd.pdf
Cash
All cash is deposited in the CIC Capital Fund Trust Account and is why the Q3 Financial statements are not clear on the cash position. The Revenue Summary shows cash received and cash invoiced. We are doing exceptionally well.
Client Shares
Our Investment Policy is clear, we do not account for any shares that is not trading on a stock exchange. Therefore we have only accounted for one client whom shares we can trade now for cash. All the other client shares are not account for in the financial statements (FS). The investment policy can be viewed on the web site www.CICCapital.com âInvestors Tabâ.
Shareholder Dividend
CIC Capital Ltd was very successful in listing CIC Gold Group Ltd in June 2015. The whole shareholder base was created as a dividend in specie to all shareholders (I refused the dividend in favour on minority shareholders). The majority shareholders received pro rata free shares (about 14% of their shareholding). CIC Gold traded at average 5.3 pence for three months with the hight share distribution to shares outstanding on the main market of the London Stock Exchange at 28 M share per month (1/3 of the total share outstanding). CIC Gold was just a shell and the market Cap was nearly GBP5.2 million pounds. This also set a record as to the highest value of a shell traded on a EU regulated market. Why is this important? Well the value was really nothing to do with CIC but to do with the recognition of the value of share distribution, basically you and our market maker.
This model of taking a little cash (so we are not left with our pants down if the client decides to change their mind) and shares.
Should CIC be successful in listing those clients then the share windfall and possible dividend like CIC Gold will be extremely positive. This is why I am always reachable, my mobile is on the website because you the owners of the company (shareholders) is really important to our client's shareholder list. By issuing client shares as a dividend we are creating their share list t so they can meet their listing obligation.
Other client may already be listed and again we may in part or full give them as a dividend to our shareholders.
Our current shares outstanding will never increase because we can generate all the cash we need, our prospectus is not raising any capital.
I received my electronic share certificates from Stuart but my CIC shares are still listed in my account at Barclays.
Barclays has my account valued at 15 pounds so I do not pay any fees.
I am not allowed to buy shares only sell as I am now a foreigner.
They also canceled my Barclaycard but they are still allowing me to have a current account.
5. An agreement dated October 15, 2019 the Company and Innovative Medicine Ltd. (âInnovativeâ) pursuant to which the Company agrees to provide advisory services to Innovative to enable a direct listing on the TSX-V in consideration for of an advisory fee of cash US$130,000 (approx. CAD$171,600) and the issue of US$900,000 in shares (approx. 6,000,000 shares) less than 20% of average trading price post admission in Innovative to the Company (âAdvisory Sharesâ).
6. An agreement dated August 29, 2019, the Company and Innovative Medicine Ltd. (âInnovativeâ) pursuant to which the Company agrees to provide advisory services to Innovative to enable the establishment of a Luxembourg Securitisation company compartment specific use by Innovative to raise up to âŹ90,000,000 with the first note raising âŹ10,000,000 in consideration of an advisory fees to be satisfied by the issue of 30,000 Common Shares in Innovative to the Company (âAdvisory Sharesâ), Euro âŹ8.700 in cash and Securitisation compartment management fee of 4.2% of value of note issued for the life of the securitisation compartment and company. The Company is not conducting the capital raising rather by introduction to regulated sponsors. No commissions are being charged by the Company on any capital raisings. Each Luxembourg Securitisation companies has seven separate compartments to which a separate illiquid asset can be assigned.
7. An agreement dated October 15, 2019 the Company and Securlinx Biometrics Ltd. (âSecurlinxâ) pursuant to which the Company agrees to provide advisory services to Securlinx to enable a direct listing on the TSX-V in consideration for of an advisory fee of cash US$130,000 (approx. CAD$171,600) and the issue of US$900,000 in shares (approx. 6,000,000 shares) less than 20% of average trading price post admission in Innovative to the Company (âAdvisory Sharesâ).
8. Escrow Agreement among the Issuer, Capital Transfer and Stuart J. Bromley, Robert Rhodes, Li Hongguang and Terence Larkan made as of August 28, 2019 referred to under âEscrowed Common Sharesâ.
9. On August 27 August 2019, the Company entered into a relationship agreement with Stuart J. Bromley whereby he agreed that all transactions and relationships between him and his affiliates on the one hand and the Company or any member of the Group on the other will be conducted on terms which allow the Company and the Group to carry on business independently, and all such transactions and relationships will be at armâs length and on a normal commercial basis. Further he agreed not to exercise, and to procure that his affiliates did not exercise, any voting rights in relation to his interests in Common Shares. The agreement binds him for as long as he and his affiliates respectively together hold five (5) per cent. or more of the issued share capital of the Company.Ian
Dear
We will be filing the updated prospectus with the following client agreements detail below. No a related to CIC and all are non Chinese rather a global mix. I got another 29 companies seeking our advisory model so its rather insane. Securlinx is industry distributive technology as they have developed with US and UK agencies view bionics (read you body key arteries). Innovative Medicine Ltd. is also distributive medical surgical technology and the team is world leaders in their field.
Kind Regards
Stuart J. Bromley
+86 136 0113 1912
1. An agreement dated August 8, 2019, the Company and Detroit Energy Group Holdings Ltd. (âDEGâ) pursuant to which the Company agrees to provide advisory services to DEG to enable a direct listing on the NASDAQ in consideration of an advisory fees to be satisfied by the issue of seventy-five thousand Common Shares in DEG to the Company (âAdvisory Sharesâ) and US$180,000 in cash.
2. An agreement dated August 29, 2019, the Company and Detroit Energy Group Holdings Ltd. (âDEGâ) pursuant to which the Company agrees to provide advisory services to DEG to enable the establishment of a Luxembourg Securitisation company compartment specific use by DEG to raise up to âŹ200,000,000 with the first note raising âŹ30,000,000 in consideration of an advisory fees to be satisfied by the issue of 22,000 Common Shares in DEG to the Company (âAdvisory Sharesâ), Euro âŹ38,000 in cash and Securitisation compartment management fee of 4.2% of value of note issued for the life of the securitisation compartment and company. The Company is not conducting the capital raising rather by introduction to regulated sponsors. No commissions are being charged by the Company on any capital raisings. Each Luxembourg Securitisation companies has seven separate compartments to which a separate illiquid asset can be assigned.
3. An agreement dated August 29, 2019, the Company and Intosol Holdings Ltd. (âIntosolâ) pursuant to which the Company agrees to provide advisory services to Intosol to enable increased share distribution on regulated stock exchanges to which their shares are listed in consideration of an advisory fees to be satisfied by the payment of $51,200 in cash and the issue of seven hundred and fifty thousand (950,000) Common Shares with a full warrant exercisable at 32 UK pence on or before 31 December 2022 in Intosol to the Company (âAdvisory Sharesâ).
4. An agreement dated August 27, 2019 the Company and Pearl Investment Holdings Ltd. (âPearlâ) pursuant to which the Company agrees to provide advisory services to Pearl to enable a direct listing on the TSX-V in consideration for of an advisory fee of cash US$130,000 (approx. CAD$171,600) and the issue of US$400,000 in shares less than 20% of average trading price post admission in Pearl to the Company (âAdvisory Sharesâ).
5. An agreement dated October 15, 2019 the Company and Innovative Medicine Ltd. (âInnovativeâ) pursuant
THE $2,193,776 was the forgiveness of debt by CIC Fund. I would have preferred that was listed separately on the accounts as it creates confusion.
After a more detailed look at the 3 months results for 2019 and removing the $2,193,776.... I came up with earnings of $417060 or just under 1 cent a share eps.
If they can keep this up for a full 12 months that comes to earnings of $1,668,240 or 3.8 cents a share eps.
With a price to earnings of 10 would equal a share price of 38 cents which is still a nice number.
Please let me know if my sums are wrong.
Six cents a share earnings for three months!
So are we looking at earnings of 10 cents plus a share for the full year?
Do not forget the 1 for 10 share consolidation.
Filthy Rich Hong Kongers moving to Canada. (Don't fancy the UK because of Brexit?)
https://business.financialpost.com/personal-finance/high-net-worth/the-wealthy-are-fleeing-hong-kong-and-bypassing-the-u-s-to-come-to-canada-instead
I like this........ from the home page.
"CIC has over 220 professional and institutional investors as shareholders which is a powerful base for our clients to raise capital subject to any jurisdictional regulations and statutes. "
https://www.ciccapital.com/
It gives me more confidence that we will soon have a listed company.
Check out the CIC Capital Management page.
https://www.ciccapital.com/copy-of-home
Had an email from Stuart...........
"Thank you for you time and courtesy in making some suggestions as we welcome any shareholder participation as long as its constructive and support our responibility to each owner (shareholder).
While we waite some jobs for Stuart to be getting on with.
1. Update CIC Fund and CIC Gold web sites ready for floatation.
I believe we will sort our CIC Gold first and is intact well progressed.
CIC Fund we will advise of soon as there is a lot happening here structurally.
2. Have Chinese versions of all CIC web sights for potential filthy rich Chinese investors.
We need to be careful here. Our base is Chinese 12%, Middle East 33%, Japan and other non Chinese 17%, EU 19% rest other.
We need to treat all equally. So we are only sticking to English.
3. Look at Hong Kong for a future listing of CIC companies.
Absolutely not. This is a retail market and I personally have many years invested in developing a non retail base save about 8 % of our shareholding. We have a couple of dissident shareholders whom have some mental problems and they can kiss my arse when trading happens because they will need our assistance.
4. Ask us for any suggestions we may have to improve everything CIC.
Value this at any time and we will fully respond.
5. Send us all weekly updates of progress being made.
Can not do this as is not practicable. I do agree on regular updates but do remember CIC is Canadian domicile and its a regulatory breach to âspook the marketsâ. So before listing I communicate where I can within the constraints placed on me. For interest you may wish to read the regulation which is Canadian National Instrument 51-201 Disclosure Requirements (do a google search).
6. Make himself a cup of tea.
I have a big professional Coffie machines and use it regularly.
Any more idea's from you good folks would be most welcome."
While we waite some jobs for Stuart to be getting on with.
Update CIC Fund and CIC Gold web sites ready for floatation.
Have Chinese versions of all CIC web sights for potential filthy rich Chinese investors.
Look at Hong Kong for a future listing of CIC companies.
Ask us for any suggestions we may have to improve everything CIC.
Send us all weekly updates of progress being made.
Make himself a cup of tea.
Any more idea's from you good folks would be most welcome.
It's 8:55 am over here and I am awake.
I have read the RNS and I cannot say that I understand it.
Seams that us" sophisticated investors" are going to be asked if we want to subscribe for shares in INTO.
Maybe we will all get free holidays in the new hotel in South Africa instead of free shares.
Oh, what a tangled web we weave.
board of 6 directors for CIC Capital?
I can only see 4 directors on the prospectus and 5 on the web site if you count Treasurer Mark Brockhurst.
Have I missed someone?
Gents,
A further update now that the markets have closed.
Intosol is a small EU luxury travel company. It founded by funders that hold interest in small and large companies both public like Intosol and private companies that will go public. CIC has been through a lot and has real street credentials. Also a vast knowledge base. Large funds want that and like a a lot. We have detailed know how in many jurisdictions not just one.
CIC Capital public listing is progressing with a board of 6 directors and is very solid. Should CIC be successful in its listing it will be the first advisory firm admitted. The Company is very special and its approach to take on clients for equity shares for fees is working in our shareholders favour. CIC Capital only started to take on outside clients this February and has already turned over very significant revenues. Our deal flow is very substantial and wonât be selling on listing that for sure.
Stuart J. Bromley
+86 136 0113 1912
I see no news.........maybe Wednesday at 7 am.
After a quick look at Itosol I cannot say that I would invest in the company.
Gents,
An interesting news release by Intosol Holdings (main board listed co) will be issued at 7.00 am.
Stuart