Member Info for Redhammy

People invest in a share to make money, either by the price rising or by getting a dividend. This shambles is unlikely to do either, unless you are lucky enough to buy in on a day they actually release good and meaningful news. We shareholders are being completely kept in the dark. They won’t answer any of my emails or phone calls, that is very worrying. Roasters like you are the reason that companies like this get away with murder. Remember when they were on Proactive every few weeks telling us everything was “nearly complete”? All gone quiet now, but it’s ok because they’re not invested here.

The last message I sent via the contact form on their page is not recognised. They can’t even get a contact form right FFS! No wonder they can’t manage a website. What exactly are they doing?

Yes, I’m invested here and yes, one of the stupid ones. This seemed like a reasonable investment at the start. Since then though, it’s been one shambles after another. The worst thing is that I have failed to get any reply from anyone at ICON, either by phone, message or by contacting St Brides (PR). This is how they treat the people that are funding their vanity project.

It’s the fund, probably forward selling their shares. It makes no difference to them how low they sell them at. Remember the Q & A said they weren’t aware of forward selling taking place? Well, we all are and they must think we’re stupid. Mind you, anyone that’s bought shares here IS stupid - ever wondered why they haven’t published a share register or bought any shares themselves?

This share lost over 90% of its value as WDC & has lost another 70% odd since the name change. The directors have felt no financial pain, it’s us shareholders that have been kicked squarely in the chuckies. There’s not one shareholder that’s made money, only the fund has managed that. There is no share register, no confirmation of the £1 million contact, no “hard” launch, no details of the purchase of Social Alchemy, no directors purchasing shares (but working for low remuneration) - I started a business and didn’t get a wage for 18 months! In short, these shysters better get their fingers out and start producing - and it better be good. Too many fat pigs riding the gravy train - I saw the Thomas Cook boss getting a mild doing today, hopefully the start of better corporate governance.

Thanks for the sensible reply. I do think there should be a response to any communication. Even an email reply to acknowledge receipt would be something. Meanwhile, we have had to endure another very poorly written Q & A document. I’d much rather they stopped with this pointless exercise and made relevant updates when there was something to report.

Has anyone managed to get a reply from anyone at Iconic? I’ve emailed, contacted all of the numbers listed, left messages and spoken to St Brides - all with the same result. The absolute contempt shown to shareholders is pretty shocking.

I phoned St Brides and asked to speak to JQ. My answer was “who?”. When I explained who he was, I was told Hugo would call me back. Obviously he hasn’t, my calls to the other number are ignored and emails to IR are also ignored. This is a communication company FFS! Anyway, I bought just over 20 million yesterday, and can confirm I have no idea what’s going on - there must be news due, hopefully it’s not 1, more funding 2, legacy issues almost complete 3, purchase of another pals company. Good luck all.

Are you mental? The share price has been decimated since Iconic Labs inception. Mainly due to the financing, but also because of handing our cash over to their pals to buy companies with no history. Why haven’t the board bought any shares? Haven’t you ever wondered? Then again, I doubt you have.

Yes, there it is - “if you can’t handle it, get out now”. There’s the problem. Absolute idiots that are happy to lose money every day, and try and drown out anyone that is prepared to call out this board on their incompetence. This boards actions have been a disgrace so far. I expect more acquisitions of companies with no financial history and belonging to their friends, before these legacy issues are finally sorted.

The company told us, the owners, that the legacy issues would be dealt with “within six weeks”. That was months ago, and they still haven’t done it. They now announce the stepping down of two directors - what exactly did they do, and how much of our money did they “earn” for doing it? Queue the apologists and dreamers (or just people in a panic over losing so much money) replying to defend the defenceless. The next news will be a pointless Q & A answering the questions that they want to answer. PS - I’m not selling my shares, I will remain here and call them out on their incompetence.

We must be due a holdings RNS. That’s if the company know who owns what yet. If you were being cynical you might suggest that the company have been complicit in the fund forward selling shares. It would be nice to see some directors buying shares too, although I expect they’ll wait until they’re given them for free.

How much did they pay their friend for his business? Nobody knows, and we probably never will. Is it too much to ask for transparency? They better get their collective finger out and start giving the shareholders some value.

When it lands it would need to be huge! I agree that this company shouldn’t be too expensive to run, but when they purchase another company, with no accounts, using a terrible financial deal, then it is very expensive. Add in to that, the management team have their fat fingers in the trough, and will collect free shares - more dilution for us!, so the only guaranteed winners are the fund and the management team. The fund can’t even wait to punt their shares either!

Anyone under any illusions that the fund are not forward selling should note that 50 million shares have just been sold. Where did they come from, if not the fund?

Yes, I have emailed every day for three weeks previously & have given up. I have phoned and left messages too. There is no excuse really, which does show a blatant disregard for their owners. I will keep trying though, and take them to task. Maybe the pressure that we put on them lead them to publish the monthly Q&A. Maybe we can pressure them to answer the questions they don’t want to answer too.

To cut my losses and run would have been a sensible option when the price was 0.3+. I missed the boat on that one, so I’ve decided to hang on. I’m in no rush to get my money back, which I’m sure I will. I think most people expect that if you’re negative, then you can sell and move on. I will stay here and ask questions, and I will also speak to the board with my concerns - if they ever answer my phone messages or emails! Their treatment of the people that own this company AND pay their wages, is disgraceful. If more people refused to accept this treatment, then something might have to be done about it. Far too many happy clappers about

The company don’t comment willy nilly? What about all the rubbish on the Proactive interviews? Set up questions and they’ve been caught telling porkies - remember the legacy issues that were going to be sorted in “two weeks”? Still not sorted over a month later. They should only release news by RNS and not these tinpot interviews where they can promise the earth. Why haven’t they bought shares with their own money yet, especially at these prices?

I agree with what you say, but I also believe that we, the shareholders, are entitled to ask questions. Not just the questions that the board want to answer, but the really important ones - where is the share register, how much was paid for Social Alchemist, why did they say legacy issues sorted in two weeks (still no confirmation), details of the £1million contract, etc etc. I have tried contacting the company by email and by telephone, but have not heard anything back. That is absolutely unacceptable.

The drop is most likely down to the optimism created by the Q&A RNS, which promised some answers. Then they sneaked it out late on Friday, and it answered nothing. I wonder if we will ever find out how much they paid for Social Alchemist?