Member Info for mugginsthedog

I fear the worst. The market is clearly signalling that the end is nigh. Also, a number of the staff seem to be looking for new jobs - and based on past indicators they know better than anyone.

I really do not understand how GB is getting away with this. It is abundantly clear that the last couple of rounds of fund raising were based on GB's fairy tales. There must be some very unhappy shareholders?

Sad to see that Ratty is back to posting about utter irrelevancies here.

There is such a clear and obvious conflict of interest for those Directors sitting on the Boards of DVRG and MSYS, surely they should resign from one or the other (or both)? Without resolving this it is difficult to that there will be any resolution.

Thank you CC.

G Woods did indeed call this exactly right. He was broadly derided by the GB fanboyz at the time but he has proven to be exactly right. I would welcome GWs thoughts.

The crook did indeed manage to sell shares. He sold £123k. Remarkably, he sold these to the company on the basis that DVRG had sufficient funds. How wrong was that! This was at the same time as GB was misleading the market claiming that turnover would be double the actualite.

Mrs GB also sold shares and failed to disclose this to the market in a timely manner. Mrs GB also received remuneration for unknown services Again this was not disclosed in a timely manner and only after an investigation by the company.

Notice a pattern?

It really is time that the authorities started a full investigation. Not least as he is, extraordinarily, running another AIM company.

Tq - that is a very fair point. It is all too easy to focus on the shareholders losses and forget that he has ruined the lifes of dozens of others. When he got rid of a number of staff at Modern Water they received nothing as their employer went bust. Hard to think of anything more unsavoury.

The SP is down 33% in 1 months and 50% in 3 months. That is a lot and to say that it has not moved much recently is clearly absurd.

As to GB, he has cratered every company he has been involved with (including MSYS) - a 90% SP fall here is obviously catastrophic and consistent with the performance of all his other companies. This is clearly relevant and I am quite at liberty to point this out.

Sol - again you need to check your facts.

GB was appointed on 5/2/2021. At the time the SP was 0.25p. It is now 0.025p, a fall of 90%. That seems quite steep but unfortunately entirely consistent with all companies that GB is involved with. He must have the consistently worse record of any AIM director.

Given GBs proven ability to destroy shareholder value (Alltracel, Modern Water, DVRG and MSYS) at pace it is more than a little surprising that the BoD here have not nudged GB off. This would allow him to get back to his former role of a plumber.

Yes - I pointed it out on 26 May but thanks for giving the link.

It really is beyond belief. GB is clearly living in his own fantasy world. It really is tragic - at least for shareholders.

Sol - before you spout off you should really check the facts.

DVRG's last financials showed that there were the following liabilities;

Trade Creditors (presumably including MSYS) £3,061k

Loans £4,243k

Lease liabilities £562k

I would expect that the loans and lease liabilities are secured. Therefore the value of assets sold would need to exceed £4,805k before anything would available for general creditors. In creditors there will be others who have a preferred position (HMRC/employees/pensions etc). It is therefore extremely unlikely that under a liquidation that the value of the assets sold will cover preferred creditors far less unsecured creditors.

Of course MSYS might have been smart enough to write into the contract that they want some form of security. As GB was sitting on both sides f this (being management in both companies) he had a clear conflict of interest and if there is no preference that again questions his competence/honesty.

DVRG has no money and it is unlikely that they will continue.

As they have no money they cannot pay MSYS.

Most likely the liquidators will be appointed and will sell the underlying technology for a song. Preferred creditors may get something, but it is unlikely that regular creditors will get anything. I do not know if MSYS is a preferred crditor.

GB has already done something similar when he was Chairman of Modern Water. He shut down the main trading subsidiaries and most of the creditors (including staff) received nothing. GB is a fraud and he is running your company. Do you feel comfortable with that?

While GB was ramping DVRG here and on Twitter he and MrsGB were busy making share sales (and not reporting the sales in a timely manner). Perhaps they could give the money back?

LTB - NU has provided the best case for DVRG. There is a more likely scenario that it will go bust.

For those who are not aware GB bought DVRG to its knees whilst he was also running MSYS. It is increasingly clear that GB was acting in a fraud ent way as the businesses that he was pushing are, far from being unicorns, worth zero. They cannot even be given away. No one will go near MSYSwhen he is still around.

I fear that getting back your 1.4m is extremely unlikely

Tg - I expect that STC in particular was not much more than a figment of GB’s over active imagination. Seems like they cannot even give it away but instead have to close it down and invite all redundancy and other costs.

It is becoming increasingly clear that GB was not much more than, at best, a snake oil salesmen, but entirely possibly worse. He should be in jail but how likely is that when most of the current Board were involved previously.

As a self-confessed financial illiterate Chesh you might want to learn a bit. This is a lesson in what not to do from GB your super hero (and the man who cost us £millions and brought this company to its knees);

'Real Business Secrets: Bootstrapping a Multi National Business Empire: Leaders Are Made, Not Born Kindle Edition

by Gerard J. Brandon (Author)

There is no such thing as a successful Entrepreneur. Success and failure go hand in hand with being an Entrepreneur. Failure is merely the cost of an expensive education on how not to do it that way again.

In this book, I will show you what it takes to reach substantial goals in devising, creating, buying and building a multi-national business.

As Founder and CEO of Alltracel Pharmaceuticals PLC in 1996, that start-up company was eventually sold for $55m in 2008. As CEO of Cellulac PLC I drove its value to $40m having joined in 2012 when it was $300,000 in debt.

Having listed companies on the London Stock Exchange, buying them with zero cash, deep in debt, and building them pretty much from the bottom up. The lessons I have learned, having lived, worked and struggled through it all, are here in this book.

Being an Entrepreneur continues to be the most enjoyable, stimulating, challenging, soul-destroying, gut-wrenching roller-coaster of a ride, that I would not hesitate to do over and over again'

You could not make it up. I cannot imagine why a plumber who lost shareholders millions thinks that he might have something interesting and relevant to say and believes people may actually pay for. He was clearly a delusional fantasist.

There were also quite a few other people who questioned the turnover projections but again Chesh and his mates shouted them down.

Also there were a number of employees and ex-employees who told it like it was. Sadly the idiot Chesh wouldn't hear of it and responded with his normal incomprehensible gibberish. With the benefit of hindsight the staff new exactly what was going on.

FG - if you look through my posts you will see that I gave lots of warnings. Look at the posts titled the emperors new clothes for a start. You only had to look at his record at Alltracel to be incredibly suspicious of anything that he said. His behavious over the DVRG/Modern Water was also reprehensible with clear conflicts of interest and taking a wedge of unearned shares. He also effectively disposed of a whole bunch of DVRG shares (which the Board let him do) for cash. I called all this out and more.

Unfortunately it was the self confessed financial illiterate Chesh and his idiot friends who were too stupid to see through GB.

I am sure that we are all welcoming Chesh’s (the self confessed financial illiterate) totally incomprehensible ramblings. I am a little surprised that after supporting GB while the SP cratered 99% he has the gall to reappear. As a fanboy of GB we can really do without more of his drivel.

As to where GBs plumber history I quote the Irish Independent in 2001;

'ALLTRACEL, the Dublin-based maker of treatments to stop bleeding that is headed by former plumber Gerry Brandon, said yesterday it hopes to float on on London's Alternative Investment Market (AIM) in early July.'

Alltracel is another company where the plumber flushed PIs down the s-bend