Member Info for pyrotech

I still stand by comments that you do not fight over an empty box.

Hope/ OMF have twice attempted a takeover
Then where gas as other hydrocarbons were classed as low in Georgia, we now have other companies finding the liquid gold and apparently thriving. So it would seem SN was always right about Georgia being hydrocarbon rich.

Now did block 12 sit in a fairly dry area and we were just in wrong place? Its possible but lets look at some facts. We have found oil and in some cases it has flowed steadily for years. Okay it was a low rate for a company spending so much, but oil was flowing in a sustained way.
We also saw technology advance and this was always thought to be the key to unlocking the treasure.
Then the gas, i think we can agree the gas is there but technical issues stopped us from releasing it for production. I think this was a huge point for FRR. It proved the gas and analysis will help prove viable for others to farm in, but it was a disappointment that this was not going to turn us around quickly.
What we do not know, is did Zaza and SN rely on this being a success, was there a viable plan B if this proved concept but failed to flow. The warning signs were there as it was a rework of a old well that was known to have casing issues. Was this an all in move, high risk high reward or was it carefully considered and the "failure " operationally and financially considered?
I say failure but Zaza was very clear that what it told them was hugely signifiant.

Was that loan really on offer? if so then some data would have to have been shown that would limit the risk of that loan to the company. Confirm that loan and it suddenly looks good.
BHGE are they still in the field and operating? Find that out and again it tells us something.
Then the big one BP being interested in a NDA, If only we knew if that was ongoing or dead in the water?

The courts can take months or even years to conclude, so thats not the quick answer, but fact FRR are still being sought by OMF via the courts tells me two things. Firstly FRR are still a company - lights are still on
Secondly that the lawyers think they will get paid by FRR, if they went into liquidation that would suggest a huge risk to anyone getting paid and almost certainly not in full. There would be a pegging order and lawyers maybe just above us. We would be unlikely to see anything.

We have the tax rebate from Georgian Govt due, so if someone assists us that could come into play.
I have always learnt that bad news flows much quicker than good news so if this completely dies, we would find out fairly quickly.
People not paid throughout 2019 and no production, possible, but unlikely. Frr would be pretty much dead in the water if no production was ongoing throughout 2019 and money running out. Did we here that financial obligations last month were missed?
YA have been quiet so either a deal done or they have been paid, we would know i suspect by now if defaulted.
Right now its

Hi all

Just to let you know i do pop in to have a read now and then.
I have a fair bit invested here as i know Mole and Devex have too

The reason i do not post much now is due to the muddy waters. I have nothing of substance to add, i see what you see and i do not want to be over enthusiastic or pessimistic.
My main thought is that Zaza and SN have a huge amount to lose if this goes wrong
I also see that Hope and OMF want FRR, so that suggests there is future value and more than what they are owed. I would suggest much more, otherwise why not just wait with the board and push for jam tomorrow promises and further funding from us to pay off the loans. No Hope wanted what we had.

Is the court case something we needed to move on/ Is it just noise? i really do not know.

This is why i sit and read but do not post much right now, i have nothing of substance to add. When i do i will post it.

I would suggest Mole Devex et al are similar, they will post if and when they have something to add that is news worthy and if they do know before us, when they can tell us without having a negative effect for company and all our investment.
Please note that does not mean any of them do know anything more than us right now.

Good Luck all. im off somewhere very hot and Sunny - no not Brighton.

Someone should translate into Ukrainian and publish so it gets picked up in Country so pressure is increased to avoid Russian interference. If locals know then that pressurise the political masters.

A bit like playing the russians at their own game as they love propaganda on social media and it works

Gibbs so your saying 10p plus in a year?
and you have info that suggests that.

you know what. if 10p in a year was guaranteed I'd be very happy to wait patiently. However I do not think you are in a loop that suggests that

I fully understand how long a takeover can take, anything from months too over a year.

Is that what you have heard thou?

I am in the email list but not heard anything for a while
So give us a few crumbs, a clue on what way this may go if what you heard is true?

No names required

You have to give more than that or say if a wind up

many have waited many many months for a glimmer of hope that our investment is safe, so if something real is happening please give some details of "what you believe it is" without mentioning names.

If a joint venture, farm in or takeover please tell us

I am not surprised at the lack of communication from the company, but i am surprised how long this fiasco has taken.
I expected a OOCS by MaY if what we heard about hope was True. I expected the new loan between April - June if that was coming. I expected to hear something from BHGE regarding their input. I also expected to hear if BP had gotten cold feet or taken the plunge.

So yes this is starting to drag on a little and even without communication from FRR i did expect we would have seen some details in court files or via the other parties named above.
I trust Zaza but has he got it wrong and ill advised on how to handle Hope.

We may have got rid of Hope from the board, but hope is also ebbing away from me too

Hi, always be closing
Contact me on throwaway email
pyrotech999@hotmail.co.uk

Its not about me, its about all of us

This is about Zaza being aligned with shareholders

Yes i am lucky to have diversified, however with 15 aim companies giving me huge loses, that includes FRR at this time, i will never ever gamble on AIM again, FCA have let this market rot and they should be closed down as they are as much use as pork sausage in a vegan BBQ.
I am gutted i ever got into shares in Aim, its caused anxiety, stress and financial loss. I have crossed fingers for FRR and at best its 50/50, but still some hope.
Meanwhile thankgod i invested elsewhere.

Zaza holds about $6m of shares
SN holds about $10m

I am sure they would firstly want a minimum of that back, and suspect they would like 10x back as a minimum for the effort they put into the company.

I am not the slightest worried about my money for two reasons
1. If i am right, then in time this will come good and i can bu more apartments in Brazil.
2 If i am wrong then firstly its beyond my reach to change the court case and secondly my property portfolio in Brazil is more than making up for loss.

Beach front apartments at $45000 that treble in price very quickly and meanwhile bring a income of 7% a year return.
My little consortiums are working wonders and i wish i had put my share money all into the Brazil properties. Thats all my different share companies cash.

I know i am lucky as with Brazil wife i have the knowledge to get thru the loop holes and laws and of course get local rates when buying - not inflated foreign rates.
I have 3 friends with one, we use like a timeshare, plus 3 friends in another that is purely investment.

If this comes good i will buy another 3 apartments, on top of the one with new consortium i am starting now, beach front with 2 bedroom apartment.

That the company counted their chicks before they hatched when providing their financial accounts.
The accounts should have been completed taking into account expenditure, revenue and assets for what we have now not what we hope to have in future.
A note can be added if after completion we suddenly finalise further deals.

Its like me submitting my finances based on winning the Euro Millions because I purchased a ticket.

protests in Georgia show that the People have no interest in Russia and arre looking WEST

Now is that the smoking gun?

"Some of these issues were, admittedly, raised in the prior action based on the facts as they were known to Plaintiffs at that time, and some facts and allegations are not yet able to be proven, since discovery has not commenced."

That would tie in nicely with the change of venue.
OMF are based in California and so easier to get a search done on offices for investigation. We are also then able to call YA for evidence (NJ) and that could be the smoking gun?

It would seem that FRR are aware of evidence but unable to get their hands on it, so being in a California court it may be easier to force access to electronic and hard copy evidence by a raid on OMF offices. Problem would be if a dat cleanse operation is going on there, lets face it they had over 6 months to clean up.

So is there somewhere else this evidence is to be found?
It sort of smacks my theory of stalling to just get rid of Hope and get loan for a six.

This is a strange one, FRR are adamant that there is evidence to be discovered, but have not discovered the smoking gun, but feel safe that its there.

If i did not have money in this it would be an intriguing story

PRAYER WHEREFORE, PREMISES CONSIDERED, Defendants respectfully pray for judgment as follows: 1. Plaintiffs take nothing by virtue of this action, and that judgment be rendered in favor of Defendants or, upon consent by Defendants, that this action be dismissed with prejudice to re-filing.'

This for me is that OMF are requesting that when judgement is made that there is no appeal process - that they want to stop the stalling by FRR.

I do not believe winning the court battle is the aim here, i said a few weeks back, this was carefully orchestrated so that hope felt he could or should resign from the board. Then we get loan, income or deal to pay Hope off. Yes due to court action it costs a lot more, but better than what Hope was planning for us.

So far the plan is working, Hope resigned so unable to block financial deals, now we have time to get a deal struck to pay him off. I suspect we will be liable for all legal costs too.

This for me would be a huge win

I remember accusations that the company were going for Moldova and other countries just to keep shareholders interested in the scam.
Well this pretty much shuts them up. The company is delisted. Bidding for fields has no instant change for sentiment as when we were listed.
So the reason has to be because not only do they want to expand the company,but also believe that they have a future revenue to do so.

Inherit2mill, I have been kind in the past, however today it is evident the only interest you have is a nagative one.
Of course that makes you a bit of a fool as your negativity will not change anything.

If you inherited 2 million anything - i hope its coffee beans. I dread to think what damage you would do with 2 million anything else including 2 million FRR shares.
Although lets be honest if you did have 2m shares you would not be acting negatively in such a consistent manner.

Are you sure your father did not tuck you right up by shorting 2 million shares and when it got risky said, here you are son have these it may make you witch (Rich)

Flakey
We were told we Only go into legal battle if we are confident of winning ( currently we are not winning from what we have seen).
What was winning in this battle? Do you know?

I would suggest removing the parasite from the BOD was the aim here, to do that we needed him to resign.
Accomplished!
I would suggest we have just won the battle, just while people were watching the attack leading to taking of the queen, they were distracted from the imminent checkmate.

Where were we?
Hope was blocking funding, strangling the company and this was going one way - too Hope and OMF
Please understand this, Hope was in the driving seat and his plan was to take FRR and not for the first time.

So we needed to pay off Hope. How?
By a loan? Well Hope was not allowing that, he had us by the short and curlies

So what has FRR achieved over last few months
Firstly the most crucial thing to get us out of the mess. Hope removed from the board.
We can now take a loan to remove his debt and lower risk of company being stolen from us as we move towards golden ticket time.
Without Hope on the board we can move unhindered to get loans and other deals

I think our legal team have played a blinder here - with some risk of course.
Hope wanted to remain in control so that he could block loans, he was not leaving the board easily.
So the route taken gave him some comfort and that road made him move to voluntarily resign.
I would suggest that we could not move Hope and needed resignation.
To get that we had to lose some battles in order to win the war.

Hope got to a point where he was confident and to clean up he needed to resign from the board. However that was his undoing and probably all we really wanted. it cleared the decks for us and i believe allows 12 months for us to pay him off.
Remember Zaza was happy to throw $5m in before this, which Hope blocked. So now we could probably use that money to pay any dues and so show we are solvent.

Too many people are looking at this as a mess Frontera made, its not. Its a mess caused by OMF purchasing a discounted debt and trying to take us to the cleaners.
The judge talked about frontera not having clean hands, i think thats in regard to emitting info from Caymans court case, which should have been disclosed to Cali Court on application.
Right now i see this as a win by FRR, however Hope will realise this and so has to counter it to again try to steal our asset. Probably by trying to prove we are not solvent.
So it's a race, Can hope challenge us before we can either get a loan in place to clear debts or increase productivity to an amount that brings an income to overcome debts. I would like to have heard evidence of solvency, that included current revenue streams.
So i think you will find that FRR was gone, Hope had this within his grasp and FRR have (for now at least) gone through a long and difficult process that was fit for purpose, by getting Hope to foolishly resign.
When people understand that getting him to resign was paramount, then they will see just how shrewd our side have been.

When you look at this
district court may impose monetary sanctions, in the form of attorneys' fees, upon plaintiffs who file Title VII claims that are "frivolous, unreasonable, or without foundation."
So i see this as having two possible outcomes
1. That FRR have lost the case and need to pay Hope what is owed (Full or just what is owed) However that due to Hope's actions FRR can argue against some or all of his legal fees.

2. Frr are again in a losing position and have been accused of making false allegations against hope annd will be punished for doing so by being made to pay his legal fees.

Number 1 is more likely in my inexperienced mind, due to fact if you lost a case normal standing is you owe the oppositions legal fees. So for me this looks like the Judge has found that FRR owe the $2m which lets face it we knew, but that there were actions or events caused by Hope that caused this so the legal fees may not be paid by FRR for his side. Funny enough that may be alot higher than the $2m he just received that was owed.They may be arguing for him to pay their legal fees too. They owed the money but he refused them the ability to pay causing the case to be brought before the courts

I have always thought that this was not an argument by FRR that they owed the money, but that they were being prevented from paying it by Hope.
So legally court would have to find that we owed the money but that due to circumstances beyond our control that his fight to get it would have to be financed by him. That would also send a shockwave in the Hope camp, that they could lose further case as that would indicate the court agrees he has acted in bad faith. (If granted)

That would also mean that he would have to pay his own legal fees then too.
Which means his legal team will now be considering Hope losing and inability to pay due to insolvency.
So my guess (if all my ramblings are true) is they would at that stage push for OOCS. They will want to ensure they can be paid.
The advice would be for Hope to go for full payment of what is owed and walk away.
Lawyers do not care who wins except for reputation. They will care alot about getting paid.

I know nothing more than you and this may be via rose tinted glasses

Shorts being paid out to wsak may be true however that could mean just original value.
The house always wins or at least never loses

Its been 6 months since we delisted soon, so the finance houses could decide to derisk their bet (shorting)
The company in their eyes could go one of two ways.
Down to zero which could mean a payout to shorters, or up substantially and with BP sniffing around thats very possible.
So they could clear the decks by just giving shorters their money back with no extras. I.e his 100% not 200% etc.
It may even have a timeline set in place that these things have to be sorted after 6 months.

They certainly are very unlikely to have any news on where this is going up until now. The Judge is not going to leak his decision before hearing party arguments.
If he is telling the truth ( would be a refreshing change) then this is either part of agreement and / or the house closing down risk. Most shorters would be happy to get their initial financial bet closed without profit or possibly at closing price last day of trading.
All the above subject to it being true in the first place.

p.s seems our lawyers are ahead of the curve with plans to counter eventualities that could have caused issues like when we moved assets.