RE: Help please from the LTH - Shorecan, Nigeria and the Cash29 Jan 2024 18:21
Part 2.Meantime all Arthur had to do was keep our spiritsnup by comtinuing to trumpet the JV which was progressing i nicely and lo and behold we now hada Letter of Intent to that effect. At the same time Bondholder were converting in large numbers and the SP was falling by the day. But not to worry when the JV was concluded all would be fine.The partner would pay off our debts,production would increase,the SP would 20 Bag immediately and we could all forget our troubles.
Lets rewind again.WHAT WE HADN'T FIGURED OUT THEN BUT WE HAVE NOW is that a ggroup of WONGA LENDERS with a history,headed by none other than Mr Tom Richardson,I believe he was actually the Chairman of COPL's BOARD.,can you believe, and Annavio Capital Partners and others were shortingthe very company they were supposed to support. But the Mega Carrot of the JV masked their intention.there is a whole groupof these predstoory lenders whose stategy is to find a company with great prospects, highly liguid but in dire need of funding. They would make the terms so onerousn that default was almost ineveitable. THE sp would be so low they could get holdof a controlling number of shares and take over the company.
The final straw was to scupper the JV, giving no explanation and sending the company to the edge of destruction. Thousand of investors shafted, mortgages unpaid, realationships destroyed by the pressure etc etc.
This scam was kept alive by the prospect of the JV being able to smooth every thing over and once tthe SP had climbed to 20p or so nobody would remember how we got there.
But Annavio and Richardson had other plans. They were to now take over the company and renegotiate with a major oil comany to exploit,properly this time, this enormous asset.
Unfortunately for them Posters have come together to unpick y
this evil scheme from the LOAN TO OWN Playbook and are determined to fight back and win.
Let's see how this plays out but if there is justice in our systems these people whohave caused such misery will get what's sure to come to them.
Just my take but I'd be very surprised if much of what I'm trying to figure out doesn't turn out to be the trufh