Member Info for pyrotech

What a pleasure to see your return here

Please go and read my posting history for last 24 hours and pick up on Mole Devex and other posts on here.

FRR Dead? or is your short in for hammering? Nail in the coffin comes to mind in regards your short. Guess whats in the Coffin? Put it this way, its not an empty box.

You see my little short friend, Whilst those parties are fighting over a rather full box, your short could be totally destroyed and that little coffin box may contain everything you own, closed down with a few nails.

You see, when we invested we put money we had, into FRR. No one wanted to lose it, but its money we had available to invest. So we know what we risked by going long.

You thou played a dangerous game where the amount you could lose is infinite, what is the ceiling that FRR COULD open at? 2x , 10x even 100x with a win and BP named.
Thats sounding pretty painful to me, for anyone with a short.

So if you want to stay and play, please do. But you may have nightmares tonight if you read all i have to say.

oh and by the way, sorry to inform you, but being negative and trying to persuade people to sell before result is pretty pointless, the SP is suspended so it makes no difference. When FRR do open and with new Nomad announce opening alongside a string of good news, the SP may be that nail that locks all your assets away.
Play by the sword, die by the Sword

Wanna play?

Hi,

I have no law experience and someone else may answer better.
However my limited understanding of it is that...

There are different injunctions, and one needs to be finished before new one started, so a temporrary one may need to be closed then reapplied for and opened as a more long term injunction. pretty much just a technical change.
I every hearing it is likely that Outrider / hope lawyers will push a motion that the injunction has been run long enough and should now be closed. Frr lawyers would counter that with a request it stays as until the hearing is completed it is relevant.
Hope's lawyers would probably push the boundaries to see if FRR can get finance, as without it the case is 50/50
Those lawyers also make a nice bit of money with that clock ticking.

If FRR get the loan, or if damming evidence is in Hopes correspondence, the time will come where lawyers will advice an out of court settlement, with FRR in driving seat.

That would make Frr in to strong a position and lawyers would advise their client in best interest. How ever expect the lawyers to milk this a bit first, a big company case would bring some nice income to both lawyer firms.

So without seeing evidence, without knowing if or when finance will be agreed. it is dificult to see when certain moves will occur

This was to tell us before the proceedings started - a reassurance
The dates show that on Thursday Oct 4th, we had the meeting the exactly a week later the Injunction was started in the Court - Thursday 11th Oct
See below

On 18 December 2018, the Grand Court held a hearing regarding injunction granted on 11 October 2018 and, on 21 December 2018, ordered that it should be discharged, however the Company is going to appeal that decision with the appeals court. The Grand Court also ordered that the injunction should remain in force until the next hearing, which is to be listed in January 2019.

So i think Zaza knew what was coming, dropped hints but obviously could not tell us all
We have to read between the lines

Eventually the dog will catch the car 1hour .17mins in, this was in relation to how company was doing and the SP

YA is at 13 mins onwards and clearly states at that time investigation on going and they were helping with info.

At 29 mins unless we have extremely strong position we do not make a move.

https://drive.google.com/open?id=1iHepc-YZW6lhx6NZF3hym5eF9y2TvLZb

you are correct and that was Oct 4th. plus we have recording of that meeting. this had been going on since April. so not only was it known by Zaza that something needed doing. but also if you listen with hindsight it would seem we were given clues

Firegazer
The only one who would fight over an empty box

I know something

Evidence is there in black and white that Hope and Outrider colluded to try to steal FRR around 4 years ago . That is requested in the evidence.

Do we know that FRR will definitely win, No.
But its been pretty much ascertained that if we have funds to pay off OMF even if we lose, then the company will move forward.

I think also agreed if Hope Veto's that finance that allows us to do that, it would show with very little doubt that he is acting not in the interest of the company. The deal is by far a better one than offered by a company he is associated with that he should be acting impartially on.

IMHO its pretty much Check mate for hope. or at least in worst case for us, stale mate where know one actually wins and both walk off into the sunset with what they were due
FRR the company OMF their money

From where we were on 24th thats not bad on 27th and in between we had two bank holidays and lucky for us one and a half days suspended trading

Fact is also you used to be a positive holder here.
But you did always say you would fight over an empty box

Some one answers that a few days ago
i believe the first is temporary and has to be lifted before a more permanent one can be put in place until the hearing.

I think the lawyers battle it out but if FRR had a basis of a case then it would be easy to reinstate the injunction.

I think it means very little thou as just part of a normal process
Hope not supplying relevant paper work by the first deadline will not have helped his cause.

Maybe he was playing for time regarding seeing if loan was forth coming
Maybe he was trying to make a deal with FRR but we shut him out for a while, letting him get more desperate before opening the door to hear his offer.

There is no dead cert in life, and this is certainly not one, but iwill sleep easy tonight as i am pretty sure the pieces of the puzzle i mentioned earlier are somewhere near correct, just not sure what order they all go in.

Regardless anyway as trading is suspended
I fear on initially hearing the news i would have panic and sold, that opportunity was taken away from me, and i am now fairly confident that i will be lucky that it was.

As research over last few days has revealed info the outlook looks alot more positive than it did pre Christmas.
A nice Christmas present indeed if hope is removed permanently, BP come on board and meanwhile those who have tried to destroy the company with shorts and negativity get kicked where it hurts

Plus the you do not fight over an empty box

keep the faith all

I used that code months ago and now its out in the open
2 16 i loves it

Hi Star,
but tonight those obnoxious people are being very quiet on here.
I wish they would return as i am so confident now, they are more than welcome to take me on

I guarantee they have been reading tonight, but do not like what they are reading.
I suspect this post may get them out from under their rock, but i have news for them, FRR has a plan A and B and after a plan called BP

I agree that is rather interesting and perhaps explains why the Nomad was forced to resign.

It could be a number of reasons
1. Impartial in giving evidence to support FRR claims
2 Due to possibility of inadvertently assisting OMF via Hope
3 Due to acting against the interests of the Company

Personally i think its number 1 or 2
I would suggest it would look quite bad and possibly against rules if they remained Nomad whilst case was ongoing as they could be classed as impartial and possibly negligent.

They may also have taken their ball home when the added work was given to them to find and supply all those correspondence. Hunting for that lot over the Xmas period and having their name dragged into this spat may be enough for them to have just decided that they want to walk away.

I would not be happy if i was piggy in the middle of a spat and all my emails were to be viewed in a legal case.

Maybe FRR were being a little shrewd when they said that they do not know why Cairns were resigning.
Or its all part of the plan.
Who knows

I agree Zibs
remember the funding issue had been on going for many months according to the emails.

Was Zaza and the company setting up all their chess pieces to take out the queen (Hope)

It seems by emails, hope was a non attendee at many meetings and i would suggest that FRR had an idea of what was coming prior to September. That alone allows exclusion of Hope from meetings and the ability to Veto anything after injunction was started.

I feel quite comfortable tonight
I have spare toilet rolls for the shorters if they want them

My understanding of the following
Pursuant to the Term Sheet, the loan would be on a delayed senior secured basis and the initial availability would be $45,000,000, of which up to $20,000,000 could be used to retire the Company's existing debt.

Delayed senior secured loan basis - means delayed until the loan is senior to any existing loans, The amount seems to indicate to me that this loan will be used only for paying off any more senior loans first, which is Outrider. I would suspect that the money would transfer directly from the loan company to outrider on agreement or losing of court case.

This also indicates to me, that the loan company is fully aware of existing dept, that it is currently senior and who the debt is with
Now i may need to take my rose tinted glasses off, but in this case i think i am somewhere near the truth.
I do know that you have a mass of info on FRR and may know more about this than i do as i know how much communication you have with some relevant people.
I do think we will be having pints together at a Frr shareholder meeting in the future, i am unreasonably certain of that

So lets look at the fact
FRR were unable to arrange a loan, as Hope kept blocking it

( We assume thats because he wanted to gain more control and its highly likely that he wanted default in 2020)

So 12th December - we announced funding and to clear debt
On 19th November it was official that documents were handed to Court to start proceedings.
That would be around the time Hope gets Suspended.

There are two reasons why i believe he is suspended
1. How could you have a director active on a board of a company that is taking him to court. He could do all sorts of damage. It just would not be feasible. Suspension is the answer as it removes him from active interference, but for time being he is still a board member but suspended.
2. The funding we could not do, has now been done, Maybe or maybe not completed but we have actively applied for a loan and now there is no blocking by Hope. Why? I believe because suspended.

So if we look at the timing too
19th November (approx) hope suspended ( i believe)
Then around 3 weeks later we get RNS about funding agreed in principle

It would take at least 2 weeks to get that far with a loan company for that amount.
I suggest the loan was discussed prior to the action on a informal basis

Ask yourselves - what has changed to allow Frontera to get a loan that was being constantly blocked, the anwer was the court injunction.
I seriously believe that action was needed to suspend the hopeless Hope, I suggest company lawyers looked at the different ways that Frontera could remove him at least temporary to get that loan secured.

The timings make sense as does the fact we now have the loan agreement as per RNS

Many suggest that we could pay off debt in court if we lose the case and walk away, so was this us playing hope at his own game, playing for some time with a plan to pay them off if we did lose ( please note that IF)

If i am barking up the right tree, and with BP inadvertently named as a interested party, then its no wonder that TW and his shorters have been on line over Xmas , rather than enjoying the festivities. They could be inline to lose a fortune - even if we lost the case if that funding is secured as i believe it is.

So what do i expect now
Hope will wait to see if FRR do actually get the funding, he must be seething at the way FRR played this getting him suspended to secure funding.
If we get the funding, he will probably know the game is up, its a no win situation for him then as he either gets the money or he loses. The best action at that point is to arbitrate and an Out of Court settlement.
Probably for full amount on condition he resigns from the Board.

It removes many issues for FRR not least Hope and Outrider.
For hope the gamble of win or lose is taken away, If he lost he could lose millions, if he won he gets just what he could have setted for so a one way gamble.

Until then, Hope is playing the gamble that FRR can not get that funding. If we do

Rns states
Pursuant to the Term Sheet, the loan would be on a delayed senior secured basis and the initial availability would be $45,000,000, of which up to $20,000,000 could be used to retire the Company's existing debt

What existing Debt? Outrider
I would suggest that the funding was discussed prior to the action and the lender is aware of how the situation would go. I suspect its all going to plan.
Frr have a plan and Plan B. Either plan needed to save the company from outrider as without action it would have been curtains in medium term, this way we secure funding and have done so because action was taken, that allowed the suspension of Hope. As Garytrader said suspension is only way - as removal (sacking) can come back to haunt you as its a legal minefield.
If this is the case it is quite possible that zaza has played a fantastic game of poker, Maybe hope is about to lose all his chips.

I believe we have secured alternative funding
I may be wrong but when Frontera took out an injunction against Hope, due to it for being a serious offence of not working in best interest of the company and acting in what may become fraudulently with Outrider, that Hope could be suspended by FRR due to Court case against him.
This would seem reasonable as Hope could cause damage to the company if he remained as director.
So at this stage suspension would be the most likely outcome.

So during his suspension have we secured funding, i believe that we have.

So next question
Say it was agreed that Frontera were in default, could the company just turn around and say, okay, here is the money - IN FULL.
Was this the plan
We needed funding, but could not get it with him on Board. So we go to court even if not guaranteed to win, but allowing us time to get funding and said funding in place. Result comes out and if we win case, happy days, if not we pay there and then in Court using the funds that he was blocking.

Is that feasible? if it is Zaza played a blinder.
We then owe Outrider nothing and next step is to vote Hope off the board

That would be a heads we win , tails they lose situation

We all read the info on xmas eve - so nothing new

The rest is opinion only by someone who openly hates FRR and openly shorts the company.

He, like us does not know why nomad resigned
He is making assumptions and making things fit for his own agenda.

There will always be info available that can not be shared, why else have a NDA. It can easily be argued that saying nothing is better than inadvertenly releasing something that breaks the NDA, especially if saying nothing is in the interest of shareholders.
We would have been rather unhappy if a release of some info made BP walk away from table. equally when is info reportable. Every time a pump goes down, When CEO gets the flu, When port operators go on strike?
Thats day to day running of international business and reportable info has to be filtered or you get 10 RNS a day.

What one person thinks is reportable another may not, even following same rules, interpretation can see things different.

i am sure if there was serious fraud, holding of info etc, that Cairn would have published that as to distance them selves from wrong doing - unless that happens i would suggest TW and his idiots wait like everyone else for facts.

Now Mr Jones, after sharing your wisdom and Christmas Cheer, why not go back under your rock.
What a despicable person you are.

TsBs
In what way mate
Its red or black time

As a long term holder i know exactly how much i could lose if it goes the wrong way, My worst case scenario is every penny that i have put in FRR. However its money that i had plans for, but its not credit, its money i already had.

Now its also red or black for a Shorter, some may tip odds one way or another but none of us can predict the outcome.
A shorter is gambling infinite amounts. If we won and this opens on 8th january at £1.03 how much do they lose?

Yes that extreme is unlikely, but that is the risk if you short the company, there is no glass ceiling and could put someone in serious debt.
A shorter buys £10.000 of shares in hope price goes down, but if it rises by 1000% which is possible if we survive if a RNS released at same time saying BP want Farm in, purchase in full or to partner us, then that shorter will be in deep financial debt, owing £100,000

I would prefer not to be in this situation, but sit a bit more comfortable as a LTH and not a shorter.

The worry i have is the court look at this as different issues

If they looked at payment default on its own then we have serious problems.
If they look at the default and Hopes action then we less problems.

The injunction may have been extended but unless a OOC settlement is agreed you can guarantee lawyers for Hope/Outrider will be pushing for injunction to be lifted. They will be fighting to take the asset asap and then head up the Hope Issue. Outrider may then try to distance them selves from Hope's action or inactions.

Why, oh why did we not raise funds in a placing to clear them, even give Hope those 500m shares whilst we got funds to rid us of them.

We have since secured funding, If we used that to pay off Outrider in full, does that mean it all goes away?

here are my thoughts
We secured funding when injunction was put in place, effectively moving Hope from Board.
This shows it was Hope stopping funding. Its enough to clear outrider in full (am i correct?)

So that must mean that Outrider have since refused that payment - (they wanted asset and playing past deadline card)
It again thou shows Hope, was causing the default.

The issue then is, Hope was not fulfilling his duties for the company, but we defaulted in payment triggering an arrangement on legal document. Both are facts to some degree. Read separate and you get both punished separately. Put both cases together and you get a different outcome.

Steve has played dangerous games with an end game before, he lost a hugely valuable asset as value was created. Has history repeated its self?

Could he really have been that stupid to lose again on the final fence that was to jump?

Well if we do i think very serious questions need to be asked. If SN lost all before then somehow still had the millions to start FRR Georgia, and history repeats itself, then may be criminal investigation would need to be carried out. This to make sure that the plan is not to get shareholders to fund a company, then when its about to become a highly valuable Company, to lose it by what look like legitimate means, via courts, then later the whole gang share their loot.

This is highly unlikely in this case, i trust Zaza, but TXO did this. Scamming bar stewards, were investing money in a number of private companies that did the work for TXO, they sold it as investing for TXO but as the lights started to dim i investigated those companies. They were each owned privately by the BOD and as they became highly profitable - TXO folded from Aim. Me and other shareholders had basically funded their private companies.
So for now i hope for the best but i am readying myself for some serious action and investigation if this goes ******* up.

I think this is red or black now, as we do not have all the info, even with the info, wrongdoing by hope in the written law may not stop us being done for default. I always said you do not fight over an empty box, Wow has that fight intensified.
I think