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Not having one before deadline would not be good.
I always thought this would go to the wire.
What does seem to be the case is, Zaza and FRR seem to have had a plan, but Cairns leaving appears not not be part of that plan.
So while everything else may be going as planned the delisting is a real issue and not seen coming.
Anyone have any info on how quick a Nomad can be brought in.
I would suggest if Aim give a month then its easily achievable in that time frame.
So are we waiting for 11th hour or is there an issue.
Im positive but realistic
Wshak, share phophets and TW have been very quiet since start of 2019
Normally these imbeciles are shouting as loud as they can how bad FRR is
Either they are very worried
or
They have been told to shut up by a certain Mr Hope.
How involved have they been with him
The silence from those 3 sources is deafening
Read the whole post again, its basically split in two parts after a discussion about Zaza, and comments in a meeting about different place and xmas gifts
Now in my post the first part is sarcasm, tongue in cheek, and humour
The second part then is more serious and actual thoughts
However you seem to be rather negative but hiding it within text that you try to make seem neutral
Maybe i am seeing too much in your post as you seem to miss any humour
Enjoy your wee dram
Hamiltonacademic hopefully you have gone out for that walk and i thought you already had a few drams
It obvious you are blatantly negative and have no understanding of sarcasm and humour.
yes i am balls deep in this but i still remain with my humour and sarcasm for now.
On that , may i add when someone adds academic to their name or similar its also often sarcasm, the fact they try to make out they are clever or very well educated .... normally means they are not.
If sarcasm and humour are beyond your comprehension may i suggest Google search can explain those for you
At least no one can say Zaza did not keep us informed
We were told well in advance that FRR would be in a different place, they are Court in Caymans
Christmas presents for shareholders, well if hope wins this it will be best xmas present he ever had or ever will have.
Surely a tweet from FRR tomorrow with update from court.
There has to be something they can share to help holders here relax a little
I know Zaza has read these boards previously as he said in a meeting, so surely someone there knows the incredible anxiety by holders.
As always its the unknown that kills
Tsbs
I can not argue your points as there is so much unknown.
We are guessing a lot and can only assume that telling market everything would have played into SH hands.
Mistakes have definitely been made, and your right, regardless of outcome this has cost some alot of money already due to different circumstances.
Unfortunately Hope/OMF/ Outrider got a foot through the door early on by buying dept at discount rate. I am not 100% sure but believe that FRR had no say in that matter.
We know that they tried a T/O previously and it was all underhand.
That for me shows intent and that we need to be very careful with them in future. I can not see why anyone would believe the intent for same outcome would suddenly go away.
Now, i suggest we had our hands tied and were forced to have Hope on Board.
This now is bigger problem as he has more access to all kinds of data and info and somehow can veto a deal.
That alone is unusual as normally would need more than one to veto a deal, however i assume its written into agreement when joining board, possibly just on finance.
I can see this as he had financial loan to company ( regardless of how) and so may have insisted on that.
Now what we do not know is how much due diligence FRR have carried out to plan this outcome.
It is obvious we need Hope off the board, i suggest a loan to pay off in full ( or enough as deal) with resignation is the plan with enough evidence for him to agree is the plan.
The unknowns are the strength of evidence. The wording of agreements and the law and how applied.
We do not know if Zaza has played a blinder for us or whilst holding the aces , played the joker. Time will tell.
Unfortunately all we can do is wait.
Why worry now, it causes stress which is unhealthy. What will worry change?
Personally i will sit and wait, then worry if it goes wrong and plan my next move, or congratulate Zaza and all holders if we come out of this as we all hope, with BP then mentioned officially as interested party.
We can come up with all type of conspiracies, but for now i think lets get news one way or other then we can see more clearly the way forward.
Thank you for clarifying both situations
Also your on going valuable contributions
family most important so very best of luck with that side
hopefully this will come good too
talk later in 2019 i hope
Also the following:-
Delist! The suspension enabled my broker to remove my FRR shares as collateral on my account meaning I have had to react to the suspension even before any possible delist!
Do i read by that, you have sold all your FRR shares prior to suspension or am i reading that wrong?
Is this about interest
During 2016 the Company elected to pay the quarterly interest payments in kind and issued approximately $1.8 million in additional convertible notes in accordance with the terms of the note purchase agreements.
On October 19, 2016, the Company and the holders of the largest outstanding group of the 2016 Notes, Outrider Master Fund, LP and Outrider Management, LLC (collectively "Outrider") agreed to exchange the 2016 Notes for new secured unconvertible notes maturing on August 1, 2020. On December 20, 2016, in accordance with this agreement, Frontera International Corporation, a wholly owned subsidiary, issued new secured unconvertible notes maturing on August 1, 2020 to Outrider. This was followed by the issuance of new notes on the same terms to other holders of the 2016 Notes. As a result of this exchange, the note holders exchanged $30.1 million of principal in the original notes into new secured notes due August 2020. There was $1.5 million in associated interest
Frontera Resources Corporation
Notes to Condensed Consolidated Financial Statements June 30, 2018 (Unaudited)
expense recognized through the end of year 2016 on the 2020 Notes. The 2020 Notes are not convertible into ordinary shares of the Company and bear an interest rate of 10 percent if paid in cash or 12 percent if paid in-kind with additional notes at the Company's election. Following the issue of the 2020 Notes, the 2016 Notes were re-assigned to the Company and cancelled. During 2017, the Company elected quarterly interest payments in kind and issued approximately $4.0 million in additional unconvertible notes in accordance with the terms of the 2020 Notes.
As of June 30, 2018, the fair value of 2020 Notes was approximately $29.4 million.
Firstly YJ are still acting for and so being paid for by FRR
How do i know this? because they sent email today
"Zaza in deep discussions and working hard re new NOMAD that’s all I know . Understand your and others concern, please remember that the FRR Board also has a lot to lose and this timetable was not there making but Cairns.
Rest assured we are not sitting on any news ! Just need to find a NOMAD which with all the regulatory hurdles takes time"
Now this talk about info not being shared by company.
Firstly the loan, 2020 we all knew about, but not the nitty gritty between
Well this was just the in ad outs of the deal, the interest of 2m was not an issue, it was normal business.
The issue was just Hope stopping us paying.
Remember that and you start to understand things:
Even Zaza could not put his own money in to sort this as hope was blocking it.
So ... Zaza would not want Hope and OMF knowing his next move, so if he said at meeting we had serious issue then it plays into Hope's hand. It would inform him that maybe FRR where planning an escape from the strangle hold. It would possibly compromise the situation. Hope was probably given until the 11th hour to allow any other deal other than his own. So why would FRR jeopardise that ?
So reason not told issues was because no issue until hope failed to allow non payment and go for default, until that completed there was not an issue. Zaza was happy to pay money himself or had payment from others at better price.
You all know that we also had share available that could be used to pay - so there was not an issue with making payment, the issue was hope vetoing it and shouting about that would be detrimental in forewarning the creep.
That really is a non story folks.
The risk here is that we have to hope Zaza has got the evidence and legality to take this on for reasons given in court paper, i would assume that they have. Lots of time to prepare and possibly a link to the YA story too.
The main job hope had was to protect shareholders of frr without contrast of interest. Now i believe he failed that and big time.
So the loan payments we knew were til 2020 and each interest payment was part of it, there was no news needed to that. We had means to pay, so no news there, the news we could have was about hope and sharing it is not a good idea.
I am anxious as we do not know the evidence and law in these situations, in fact this is rather unusual situation. However i feel that the bigger issue is Nomad. That delisting and time taken to get a new listing and the tax implications for many of us are huge.
Unfortunately i would expect FRR to leave that to 11th hour too, so trading is given max time before commencing to allow good news.
The news blackout is interesting, i have heard nothing from tw for weeks and i am sure he is involved in communication with Hope.
GLA
I have strongly suggested they tweet about a number of things
1. a tweet to tell us when some news likely
2. Position with Nomad
3. Position with Loan
Its more detailed than that but its time we were given some info good or bad
There is very little i can see why anyone would not want to be Nomad for FRR, its pretty much like many Aim companies. WHI for instance work as nomad for PYC another share i hold, there is alot of unknowns and jam tomorrow there. So to be honest FRR are pretty much run of the mill.
So why did Cairns leave, well that could be for any number of reasons. They may have inadvertently released info to Hope.
Hope as director should have informed the Nomad of inpending financial discrepancy as in he was in full knowledge that his company was owed money by FRR and when and he knew that they would not pay, as he was in control to ensure that payment was not made.
That is a director not disclosing as per aim rules
The leaving of Cairns may actually be another nail in Hope(less) coffin
I also agree with ToT, this looks like the judge is reviewing the case as one and injunction regarding default not even being mentioned as the reasons for said default appear to be paramount. Which makes some sense.
Not really sure what to expect on 17th, could be a OOCS or guidance by judge for mediation. With his thoughts it could push both parties to compromise.
To be honest if we had to pay around 70% what was owed (with new loan) as full and final settlement. With Hope resignation from Board i would see that as a huge win.
OMF and hope with no further hold over the company.
I suggest something to similar above is about 60% - full win for FRR about 20% and FRR to OMF around 20%
So not a dead cert that we are okay, but also not for a full win. Most likely something in between but risk remains of something very good or bad for us too.
I would personally like to see a tweet or something to give us an idea - but if that increases risk then i suppose better to have radio silence until the battle is complete. Rather frustrating i know
3 things we want
1. To know Nomad will be sorted in time
2. Result of Court case or OOCS
3 To not be trading until good news
Problem is, they can not say today that Nomad sorted on 24th, its either sorted or its not. So even if the plan is all sorted between them to start on a date in future, they could not tell us that without listing again.
So that messes up number 3 which is in many ways waiting number 2.
I can confirm YJ have said that FRR are in discussions for a Nomad, or at least actively seeking one. I can also confirm they say all is going as planned on the rig face.
Plus They laughed at comments that suggest FRR are dead and gone forever
Thats honestly what i know
meanwhile we need let news get sorted and cross our fingers that the Nomad is ready to go, when FRR chooses.
A deal with Hope / OMF could be within signing or as far away as ever. We could have loan ready to pay them off, or it could be still on back burner.
What a predicament we find our selves in, we want news of Nomad, but that news too early could destroy value temporarily, then many holders sell out at a loss, for then amazing news to come and leave them behind.
After all this time, its just a little longer for reward or complete loss.
I do now see this as massive value or nothing. There is no in between, all or nothing. I also feel the company has played its cards with a strategy, but the ending is unclear. Let the shorters have their day, gloating and shouting their dismisive thoughts, because they change nothing. What will be will be and if we come out on top, then those shorters will have had something to yell about as their losses may be massive.
is it just me or has frr been removed from Google finance
thanks mate. another holder I have met who is honest and truthful on here.
a lot of you are great posters and I hope we all get to meet. early 2019 for a shareholder meeting.
it seems I am a threat to others on a different board. most likely as they are shorting frr.
Please do not tell them that sp is suspended and what ever I say makes no difference. it's almost pleasing to watch the worms squirm
For those who are invested here, i will tell you what i know.
I have been to a few meetings and met some fellow investors who are in the same boat as posters and readers here on this forum. I know many by name and all of those i have met have been pleasant decent people.
I am invested here. I invested as i thought FRR had a chance of being a high gain share, it came with high risk too.
The last 18 months has seen the high gain increase, the risk appeared to diminish, but behind the scenes things were coming to a head.
I have spoken to Zaza at the meetings, when ever i walked in he recognised me, walked towards me and shook my hand. he looked me in the eye and spoken with me.
I do not see Zaza as a crook, he came across as an open friendly CEO, who put his own money on the line along with ours.
If this goes wrong, which it may, its highly unlikely to be due to to Zaza being deceitful. We may have been backed into a corner, and forced to play our cards, or we may have enticed Hope into the corner as a trap.
I do have belief that this will be fine, but its belief not fact.
Puddy, Coggy, Mole, Bomber , Prodigy are a few names of many (sorry can not name you all but you know who you are) that like me, will talk honestly about how they feel Zaza and FRR are, They have posted opinions that they believe. No one here is trying to deceive anyone.
I do not know how this will work out, there are so many different pieces to the puzzle that the route through to the next few weeks is hard to work out. So many ifs and buts.
I am a holder and what i joined here has not changed except the prise got bigger, the only change is that someone else is trying to steal the full box from us.
If its as big as we believe, then its not really that surprising that someone wants to steal it, its like a winning Euro Millions ticket.
Will we get a new Nomad in the 11th hour? Will we beat Hope / OMF or pay them off in full? Will we go on to be a huge company? I know as much as you, but i am still positive and believe all will be ok. If not then i lost some money and will never play share games on Aim again. - Actually even if FRR become a £10b company i would probably not play on aim again
Good luck all you genuine people. I have been quiet lately as i found no new news and had nothing new to report.
He is still looking at the wrong facebook page even thou i told them who i am.
However this has really gone too far now, its not banter or fun, its become nasty and vile.
This needs to be stopped, unfortunately i have to do it legally although i would prefer to do it the old way.
Lets see this piece of dog muck come to Cardiff, a free night in hotel and we sort it out in the ring.
He hides behind his keyboard, hidden away, where i actually told him my name etc and tried to protect an innocent person.
I do not need to hide, most here know me.
Stangest thing thou, i tell them who i am, and they still can not see the woods for the trees. How any one can follow someones research when its that poor that even when proved wrong 100% they continue on same track.
This Mjones and Joeking are real thickos. More than happy for both of them to come here. They can share a room at hotel so no more expensive for me and i can have the fun showing both of them some stars in the Capital.
WTF
I am fuming, just been on the site to see for my self what that scum Mjones has said about me
Here is an offer for the weasil
I have dedicated my life to saving others, since April 1990 in fact
I can not do street fighting as its not worth ruining a career for a lowlife .
However i am more than capable so why does this weasil come to Cardiff, i will put him up in the hotel and we go for 6 rounds of boxing.
I really have had enough now. This troll needs knocking out.
If your reading this JONES, don't worry about the 6 rounds, you will not need to do them all, plus i will introduce you to a few stars in Cardiff.
I can not be fairer than that, we do it legally and i pay your hotel. You cover your own medical costs thou
Stop hiding and lets stop this crap NOW
For me the big question has been missed when talking to your son.
perhaps he can answer this.
If FRR lose, can they pay off OMF in full instead. If they paid straightaway?
Can they pay off in full prior to case? even if its not what hope wants
Working on my theory that FRR needed this to happen to get loan, has the chance to pay off OMF gone, is it still open and if so when does that close. This would be a payment to settle in full without agreement from Hope and OMF.
I say this as i think they want asset so we need to be legally entitled to pay in full to clear default
Lets be perfectly honest here
Your saying nothing bad in THOSE emails
Hope is not stupid enough to put anything that could be used against him in emails to FRR board.
He would know that what he writes could be kept as evidence in future
He would carefully write an email, reread it, correct anything, read again then send it.
He would be very careful what he says to make sure he could not be looked at as failing his duties to any external verification.
He was probably writing those emails and frustrating FRR by writing one thing and saying and doing another. He is very careful in them by not mentioning certain things - like arguing why a loan would not be better from the other company, rather he just pushes the offer from OMF
I think we will find that the emails he thought would not be seen are the ones to Outrider, Cairn and others which are probably damning and he was less careful with.
The danger for Hope is that emails have been requested from other sources that means if he misses some important evidence in a set of Emails, that may turn up in emails from the other party and that would look very bad in deed.
I would suggest that its possible that Hope tried to fight the request for emails and his lawyers argued against the request. The Judge ruled against this request and gave hope 10 days over the Xmas period to produce them.
I would suggest evidence he wants to use about default would be sat on his desk ready for use, so its most likely the damning evidence that was taking time, although lets face it, its a simple task.
All you need is to sort messages to the companies in folder, send them or print them. Unless of course it does not help your case.
Zaza did say we only go to court if we can win in last meeting and this would almost certainly have been on the Agenda by then.
Hope could also be involving others in those emails and may not want to lose those associates and financial businesses. Outrider / OMF may decide better for hope to be accused alone and not have their name brought in and all revealed, so hope trying to broker a deal. If FRR are in the driving seat, they would stall that deal until the loan is in place and Hope is as far against the ropes that he can be, as they get a better deal the more desperate he becomes and if they have finance in place to close this off.
Nomad resigning is the elephant in the room. but is it a red herring? Or is the fact their name (information request) being drawn in was enough for them to distance themselves as our Nomad.
I am still confident
You do not fight over an empty Box , 2,16