Member Info for mugginsthedog

Shave - it is reasonably obvious that whitecells is an employee, and is one of several employees who have very helpfully set out what is actually going on with the company. As an employee I very much doubt that whitecells has a moral or legal obligation to report inaccurate RNS's.

Indeed - thanks to AC.

Interestingly when you Google - Intelligence Advanced Research Projects Activity REI TEX (which is the name of the project, together with DeepVerge you get no hits other than DVRG publicity. It seems incredibly unlikely that none of the other participants in a project would not mention this.

It is looking increasingly as this is a long con, a tissue of lies by a fraudster. We already know that he and his missus skimmed money from DVRG and it is looking increasingly as if he was involved in other nefarious activities.

AC - thank you for this. Your comments seem very credible. There appear to have been a number of employee or ex-employee posts on this BB over the last 12 months or so. Most of them have been much more accurate and relevant than the idiot ravings of Ratty, Chesh and other paid rampers.

It certainly looks as if GB is up to his old tricks from Alltracel, with PIs getting sh3fted yet again. If only he had stayed as a plumber we would all be better off.

Sol - you are either the most gullible fool on any BB or you are GB. Which is it?

Based on GB's and the rest of the curent and former BoD's rather sordid history (Alltracel, sale of shares etc etc) it must be expected that us PIs will get royally stuffed by them. How do posters think that this might happen? Will they simply put the whole thing into administration and pick off the cherries for next to nothing. Now that MSYS is also suspended perhaps they will do a deal that includes some of MYSYs assets? Perhaps a highly discounted take private with some of their city chums providing financing.

Would anyone care to speciulate what their plans might be?

Yes - it is everyone. This is from the RNS

'To avoid incurring additional costs, the Board has today decided to issue redundancy notices to all remaining staff to take effect on 31 July 2023.'

It is not just PIs who have lost everything - the staff are in a worse position. GB and the BoD have a lot to answer for.

Truly appalling that the plumber/fraudster and city mates are getting away with another one. Yet again PIs are the ones getting sh@fted. Clearly the rhetoric from GB and the rest of the BoD was a million miles away from what was actually going on with the company- overstating revenues by a 100% is a decent example, but far from an isolated one.

Also appalling that the rampers (I suspect paid) who were on here for years are not showing themselves to aplogise. I wonder how many people have lost their life savings as a result. Time for the financially illiterate Chesh and his merry band to apologise. They should also apologise to staff membedrs who clearly knoew exactly what was going on at the company but were bullied into silence.

It is shocking that this is the first update on the China JV for 18 months (even if it is to say that it is all on hold).

It seems that there are no serious attempts to sell the MW technology other than a few reagents.

It is difficult to see how this could have been managed any worse.

It is interesting that there is nothing on Skin Trust Club or, indeed the breathalyser. These are what GB was pushing and I fear that when an inquest is done it will emerge that these were little more than a figment of GB’s imagination. Sad to say that £millions were wasted pursuing these mirages.

Disappointing that the BoD does not seem to be taking action against the plumber to recover the missing millions.

Shaiky - this is what you said on 7 Nov 2022 'People on this board are implying that they have insider information and making serious allegations about the company and BOD.

Its very easy for the company to shut the likes of shorteverything and muggingsthedog up, they just need to provide an update regarding Microtox PD and BT.

As a Long term shareholder, friends and family holding approx 1%, I need to provide answers to people I recommended this share too'

Clearly you were warned by me and others but you chose to ignore these warnings. You may have done your own reesearch but it clearly was not good enough. I really do not understand why you are so snarky being described as gullible as you clearly were gullible.

there were a number of us who set out why gb and co were crooks. we were generally shouted down by the rampers. those who invested were given all the warnings that they needed but just chose to ignore them. you were also told in the cle****st terms about gb's previous 'efforts' with alltracel which produced a near identical result. you were also told that gb was a plumber. so, yes you were gullible. it was pretty clear years ago that this was a house of cards.

GB has engineered this situation quite deliberately, by over extending credit, and therefore no one needs to ask him if he 'gets it'.

Sadly by continuing to suggest that MSYS will get cash from DVRG it is pretty clear that you do not 'get it'

Sol - I am afraid that you do not get it. There will be no money from DVRG. DVRG owes at least £10m to preferred/secured creditors. It is likely that the value of assets will be significantly less than this. Unsecured creditors of DVRG will likely get NOTHING. You need to accept this and move on. It's how an insolvency works.

GB has cratered your company by using MSYS cash to prop up DVRG. It really is that simple.

GB has no qualifications, other than a plumber. He has a uniquely terrible record with ever company that he runsd being a disaster.

How does a plumber with a history of disasters ending up running a series of quoted companies?

How can MSYS possibly raise funding with GB's record of consistent losses?

GB has scr3wed this company as he has DVRG and Alltracel before.

He has used MSYS funds to prop up DVRG. His actions at DVRG caused that company to crater and, in turn, has caused MSYS to crater. Sadly, it was all too obvious and there were a few people on this BB who clearly did not understand how the DVRG liquidation would work and the impact it would have on MSYS.

The extraordinary thing is how GB was ever allowed to Chair MSYS given that he has clearly and obviously cratered the company. It really is shocking and th erest of the BoD must be held responsible for this and also by allowing the DVRG loan to get completely out of hand.

To me the main question is why is GB still at the helm? He has clearly scr3wed DVRG and, by using MSYS as a piggy bank for DVRG he has, at best, severely wounded, MSYS. He has clearly misled the market (100% higher turnover than the reality), sold a bunch of shares when he must have been aware of the financial issues etc etc etc. He is not a fit a proper person to run any AIM company. It really is that simple.

Yankee - very eloquently put

Of course, you really have to consider if anything that GB says is true. Let's not forget that he said that turnover this year at DVRG was 100% higher than it actually will be. He also said that DVRG was fully funded, that we were going to sign a JV with a large Chinese company, that we had a wide range of new world beating products coming to market - none of which were true. During this time he allowed MSYS to build up an extreme creditor position with DVRG whereby MSYS was effectively funding DVRG.

All the while he and Mrs GB were selling shares.

Very similar to Alltracel where he left PIs high and dry.

It would take a rather naive investor to take anything GB says at face value.

13th - the real problem is that woods and myself told everyone on this BB exactly what GB was up to but unfortunately too many people on this BB did not recognise the quality and accurcay of the information that they were receiving. Too many PIs believed the rampers (anyone see the idiotic self confessed illeterate Chesh recently?) even when the rampers comments were fanciful at best and often down right lies.

More pertinently, it seems that, yet again, GB has got away with it. He has history - you only need to see comments on Alltracel. Why were so many people deceived by a conman who artificially inflated revenues to a completely unrealistic level, whose wife sold shares without declaring them, while GB sold back shares to the company, whose wife received fees for tasks that were never clear, who invented a bunch of partnerships which never happened (China anyone?), gave his mates a bunch of options against best practice whilst declaring it was normal, who splurged cash like an incontinent, got paid for work he never did (Modern Water anyone) and gave away options like confetti to his city mates while all the while the Board who were supposed to control him did nothing.

This is not just a failure of GB, this is a failure of the BoD and for AIM more broadly for not ensuring proper controls and letting GB get away with it again. It was abundantly clear that GB was not fit and proper.

There are some exceptionally naive people on this BB.

DVRG is bust. There might be some organisations that buy DVRG's assets but they will not take over DVRG's obligations and debts. The sales proceeds are unlikely to cover all the DVRG creditors and in reality only those creditors that are oreferred or have security are likely to be repaid. Therefore unless MSYS is a preferred creditor, and I have seen nothing to suggest that it is, then MSYS is extremely unlikely to be repaid anything by DVRG.

Let us not forget that GB, currently a MSYS director, is responsible for this situation as he was a director of both MSYS and DVRG when the commercial arrangements were put in place. At the time there were plenty of comments on a number of BB (DVRG/Alltracel) suggesting that GB was a fraud more suited to work in the profession that he was trained for - a plumber. Those posters who said that DVRG and MSYS were completely seperate companies chose to ignore the commercial reality. As ever, GB has presided over a commercial disaster for PIs.

How he manages to get away with this time after time is a mystery.