Member Info for PuzzledPete

Perish the Thought

Sez Oi here and now. "PK is as spotless as a newborn lamb".

If he wasn't, he'd be struck off as a chartered accountant. So all at Mast towers is obviously also spotlessly white

On the other hand there is what is loosely called 'ethics'.

When a wheeze like the warrants is instigated, which depends for success on the subscribers, only five of them, putting up nearly a Million Smackers each, who of course (newborn lambs as they also are ) will have had to be reassured they'd get their smackers back risklessly almost certainly manyfold times and PDQ (otherwise PK wouldn't have got his salary source out of a deep dark hole) and when - coincidentally - the world is assured through 'reputable' (of course) news outlets that let the world know, entirely freely out of the goodness of their own hearts and with "no connection with Mast Guv ", that Mast is such an oustanding, never to be repeated opportunity, -

Then even a bear with very little brain would put a couple of 2's and 2's together.

It is of course unfortunate, that through the massive share dilution inevitably brought about by striking the warrants at such a low price otherwise the five wee lambs wouldn't have nibbled, existing shareholders would inevitably lose over 90% of their share of the value of PK's source of gravy. But that's the luck of the poor bu-g-e-rs draw innit.

And 'not illegal Guv'.

So all is legally whiter than white.

Unless -unless - some nosy parker of an auditor, trawling through the paper trail for the payment of £2 million (40% of what the pre-paids raised) to Vancouver based Fairfax Partners (Vancouver ? wherszzat ?) PR outfit. just happens to notice payments going out of the other end of Fairfax to some mysterious, Cayman Islands based, fake news site and, unlike some on this board actually starts to put 2 and 2 together.

But perish the thought.

Glass. Before a longer reply to you, and while you contemplate the timelines I've pointed out to you, it might be a good idea if you looked at Mast's 2 year chart. (Not QDE's - the end Feb name and ticker change was to sweep the real QDE under the carpet and bamboozle those who came in only late) Just think what could possibly have caused the shares to gyrate so grotesquely wildly, and end up lower than before, unless it was some sort of manipulation or skulduggery. You don't have to assume it was fraudulent or criminal. Just read between the lines and ponder. Then an 'opinion' might begin to form.

Answering Saloon. Not Glass.

I deal in facts, sad litte man. It was facts enabled me to predict Mast (and QDE) would tank. You, on the other hand only on here since April. Know nothing about the company. And start in straight away by insulting. Seems you are like Maidit. Only here to attract attention. Truly pathetic. And please go away. You contribute nothing.

Why don't you look at the established 'facts' Glassy ? Including the strangely coincidental timelines of the warrants issue (only to five 'investors' one of whom was broker Fortified Securities linked Riverfort Global Opportunities) and their subsequent conversion at the very time the shares had rocketed purely due to the fake press puffs and were tanking back down under the pressure of sales. (Funny all that). Then you might develop an 'opinion'.

So Mr Glitter. Have you missed that anyone 'bashing' QDE and Met1 was right ? Do you think these boards are fan clubs ? Do you know that 80% of these small caps turn out to be overvalued - by pi's who haven't a clue how to value properly ? So does that suggest to you that anyone 'bashing' on these boards has a more than evens chance of being correct ? Or doesn't it ?

QDE can continue its business. Except it can't raise any new money. No bank will support it. Other companies will hesitate to sign anything with it. eg Riverfort might consider the unexplained suspension a 'material change in circumstances' that will negate any financial agreement it has with QDE. And the regulators might step in and require it to cease trading. That hasn't happened yet. And for all we know Crowe resigned in a hissy fit of unwarranted pique that QDE could contest in Court. On top, delays in Companies House might have prevented the necessary section 519 announcement in time. And a magic fairy might be in the wings waiting to rescue PK before he scarpers back to Seth Efrika.

Add your own (properly thought out) reasons.

Why it might have been suspended (based on facts anyone can look up) for instance ?

I don't see why you think Kefi could be bought out cheaply. Its not like Solgold which hadn't got its capex anywhere near sorted out and with major shareholders fed up. There aren't any such shareholders here.

Acc to AI Mithral has never been a shareholder. It wouldn't be in their business model anyway. Their gold stream will be much more profitable

The market is not efficient. If more people are selling (for their own reasons, not necessarily because they don't like Kefi) than

happen to be looking to buy at the moment, the shares will drift. Simples.

Do you know what is the critical project path Mr Dogstar ? Do you know whether there is slack on the workstreams you mention ? Unless you know those, you can't say whether the whole project is on schedule or not. Harry probably knows it better than you.

The thickness of planks comes to mind.

Its obviously not just rose-tinted spectacles. Its a big void where most peoples' brains are.

By the way, a new auditor has to be approved by shareholders in a extraordinary meeting which takes time to set up. What with the lack so far of an appointment, and the time for a newbie to get to grips, we must be looking at at least 6 months before lifting suspension and probably a lot longer. In that time PK will have run out of even more money. Which means on any return to the market net assets will have fallen even further and so will cash (if any) which means investors won't buy until that situation is remedied (if at all) by coming to shareholders for yet more eyewatering dosh. Poor Maidit will be even poorer.

What an ignorant innumerate fool you are Maidit. For a start ,what relevance does the no of shares relative to (what ? ) 'peers' have ? And have you not the wit to have worked out that market cap at 5p would be 5-6 times net assets, which, without the £1m PK tried to raise just before suspension would probably now be negative liquid assets (if you know what and h ow relevant they are) Still. If it keeps you happy drivelling away in your fantasy corner, who are we to ask you to pipe down.

Institutions are not averse to making a quick buck

For a new, inexperienced, auditor to take on QDE looks highly unlikely.

The rules when an auditor has resigned and no Section 519 has been filed, require a new auditor to probe much more deeply than usual.

This is what AI (will have trawled all the relevant auditing law and professional opinion) says

"Because this involves a Public Interest Entity (PIE), the three-week delay in filing a Section 519 Statement of Circumstances at Companies House is a major compliance breach and a severe "red flag" for the professional clearance process.

Under the Companies Act 2006 (Section 519(4)), when an auditor resigns from a PIE, they must send their statement of circumstances to the company simultaneously with their notice of resignation. The company then has a strict 14-day statutory deadline to forward that statement to Companies House and the Financial Reporting Council (FRC). [1, 2]

A three-week absence of this filing drastically escalates how deep the incoming auditor must probe under Paragraph 320 of the ICAEW Code of Ethics. [1]

Maybe it is because of these strict requirements that PK is apparently having to turn to a newbie rather than an experienced auditor

Exactly. Sounds like a newbie to the smoky world of 'creative' accounting, yet to learn how to deal with a 'creative' company. And PK's tone is exactly the same as when previously 'announcing' new partners all of whom, repeat all, quietly faded away into the smoke after taking a closer look.

DO spell out what is positive about this Mr NeverQuiteMaidit. Its exactly what you'd expect at this stage, before the critical news comes. Can you tell us what that will be ? Thought not.