Member Info for OneDayRodney1

Contra: you remember the football team that I support but you forget my positive posts! This is a roller-coaster and we are all stuck on it. I am just posting my take on the situation as was asked my opinion, which is what this board is for. I look forward to reading reasoned positive posts from your good self.

As regards the Saints prospects, I think we will push on now and finish in the top half and may even sneak a Europa League spot ... so not negative about everything. :)

RR: He wasn't smiling.

He did look confident and sounded assured however; it was a good performance.

Christmas 2018! Doh!

Serge: I just don't know but do think that all this getting senators involved, and now the media charm offensive suggests that we are expecting to lose the arbitration. The fact that GOGC are saying they will abide with the arbitration outcome suggests they're expecting to win too imo. The positives are that we do have strong allies and we do seem to have a habit of surviving against the odds. However, probably for the first time since Christmas 2019, I am on balance expecting a negative outcome.
I bet you're glad you asked!
GLA

Serge: in theory no, we have the same rights as them legally, as far as I am aware.
They could of course pay themselves huge salaries/bonuses, but I cannot see how they could get anything via their shareholdings without us benefiting too.

Puddy: good thank you, hope you are too.
The accounts talk of deferred salaries then debt conversions so the figures do not suggest that they have taken much, but instead have basically accumulated a huge investment here. Assuming they weren't selling before the delist then they have a huge amount to lose here (along with some of us!). If they were selling then they won't have got much out. They're both wealthy men but the recent court cases do suggest that they're doing all they can to keep this investment alive, potentially against the odds.
The arbitration is key and, contrary to some on here, I have taken Zaza's latest interview as a bad sign, as almost a final role of the dice in desperation to get the GG to agree something out of court. I sincerely hope I am wrong, and to be fair, if that is the case he certainly looked confident and sincere in the interview ... just like he did before us in London!
GLA

Agree that he doesn't care two hoots about us, but he does care about his money and he and Steve are massively invested here. If they win then we win.
GLA

Great find Bugsy!

Anybody see any clues as to whether Zaza was back in Georgia or still in the US?

Gipps: agreed.
PJOHN: not agreed.

Gipps: it doesn't. But those accounts aren't really Frontera accounts. Someone has copied the logo.

Sorry Madp; couldn't resist it. But you're living in a fantasy world mate.

"My gut feeling is that no cost stop was put in the contract . Infact I would put money on it."

You inadvertently already have ;)!

Yes, good post Phil_2018.
I have a horrible feeling the outcome will be something along the lines of: "yes we know you spent all that money but you should have done it completely in accordance with the rules so it makes no difference". Maybe Zaza recognises that we aren't going to come out of this well in all probability (changing lawyers was a big negative) and so that is why he is putting so much pressure on the GG ... in order to get an agreed outcome. The concilliatory tone of the Company statement may have been a sign of it. Imo we are much likely to have a better outcome if it can be agreed before the arbitration announces.
Bwtfdik!

Tsbs: the VAT rebate has also been mentioned in the notes to the statutory accounts. The notes to the accounts are part of what the auditors give an opinion on.
So there is more support than just Zaza speak, although how much credence you can give to the auditors' endorsement of the claim is a matter for conjecture.
GLAucoma

Contra: this is what B-2-0 posted at the end of July 19:
"Asset to be transferred to Frr Georgia, Frr Texas holding company, new share capital injected from 3rd party farm in, existing share holders receive shares in Frr us. Other Frr companies liquidated and debts settled. Resolutions passed - it is time to fly after 20 years, get strapped in for take off B20"
His history doesn't suggest he knows any more than the rest of us... ie diddly squat.

Arsenal: that is consistent with the timeline I was fearing: hearings completed December, final submissions mid Feb, decision made and announced months from now.
Hopefully in the meantime both sides can come to an agreement and get on with it.

Goit: hopefully that is what all this posturing from both sides is all about. What was particularly encouraging was the conciliatory tone of the FRR statement yesterday. It would be much better if both sides were to come to an agreement outside the arbitration as firstly they will both be satisfied with the outcome and secondly it may happen sooner rather than later so that we can all move forward. My worry is that if it is left to the arbitration we may have no outcome for many months.
GLAdioli

Have to say that is a pretty bold and strong statement - and very welcome. Almost certainly will have been made on the back of legal advice (and I doubt if TT is involved in this bit of the process) Final submissions to Stockholm due this week we believe - is it timed to coincide with that? But arbitrators will not be influenced by public statements of this sort in my view - purely the technical/legal submissions. It is certainly not aimed at us, nor in my view the Georgian public. Aimed rock solid at the Georgian authorities - perhaps to coincide with some behind the scenes court discussions. Most importantly it is positive - and not significantly acrimonious. The saga continues

Timster: I suspect it might be deliberately vague, although we should remember that it has been translated from Georgian. As an accountant, I might make a similar statement in the UK, as a company also pays many other sorts of taxes here; corporation tax, VAT, PAYE, NI and so the two statements could both be factual but have no direct correlation. I know nothing about Georgian tax but it might not be appropriate to assume that the two statements (re the oil revenues and tax paid) are directly correlated, although we do know that an element of the taxes paid to the Government will have been on the oil and gas extracted.
GLA

It just says the Company has made a statement.
A press release therefore presumably.

If this is an official statement then presumably those other Companies would have had to have consented for their names to be quoted?