Member Info for RKBeekeeper

Good Evening LtdAxis

Eufingest hold the charge over the one share in Clear Leisure 2017 Ltd. This document was lodged at Companies House and dated on the Certificate as at 29th September 2017. So technically Eufingest do not need (require) security as I believe CL 2017 holds the right to the Sipiem Claim.

Now for the record we will win the Sipiem €10.5 million claim in full, but we have to wait till March 2021.

I am still holding, did top-slice 500,000 last Friday and updated a few trusted friends. Family are still holding all theirs and currently 500K less than 1%. Made some good gains with the funds which was fortuitous (SGC & MTRO)

I will Post again on Wednesday and then I am not Posting again in 2020.

RKB

PS Do you think we will get an RNS Thursday at the bell or 15 mins after the AGM?

Ltd Trades not showing

I note that there are a few trades not showing which as we all know must be from someone who knew what was in today’s RNS.

1 million buy at 13:36 @ 0.242p for £2,420
1 million buy at 13:39 @ 0.235 for £2,350
4,239,404 buy at 14:08:06 @ 0.236 for £10,005
4,239,404 buy at 14:08:18 @ 0.236 for £10,005
Now someone with “knowledge” may say that the £10K’s are sells but what do I know?

Oh, LtdAxis, have you figured out how I know the RNS was leaked?

RKB

PS had to keep my thoughts to a select few today as our B.B. was down but not down as LtdAxis will be when he finds out what is going on.

Some Thoughts

Authority to Issue Shares

FG has always refrained from issuing shares unnecessarily and when he has had to issue shares it tends to be at a premium.
The previous Bond Conversion in December 2018 was at 3.76p which you will recall was when our share-price was at about 0.75p. FG “convinced” £1,917,330 of Bond Holders to convert and gave them 50,992,826 shares.

Now some Long Term Holders will be aware of the background to an AGM that was attended by 13 PI’s (12 genuine holders and 1 doppelganger for AV) and this was where I held sufficient proxy votes to defeat the special resolution. That was the resolution where if there were to be shares issued then we, the ordinary shareholders, would not be able to take part.

FG is an educated, intelligent CEO and he resolved never to be put in that position again so he set in motion a solution to outwit me.

Normally the Authority to Issue Shares lasts for one year and is renewed at the AGM. This is good corporate governance. But FG check-mate me by passing a Resolution on 17/05/18 (not the AGM) for the Authority to Issue Shares for 3 years and at the AGM on 25/07/18 he had no reason to have this Resolution again as he had some wriggle room.

Then later on that year on 19/12/18 FG had another Resolution for the Authority to Issue Shares for 1 year. But at the AGM on 22/07/19 FG managed to pass a Resolution again for the Authority to Issue Shares for 3 years.

Now we are about to have an AGM on Thursday 12th November 2020 and again it is for 3 years. What does all this mean? Well FG obviously needs a lot of “Authority” and if my arithmetic is correct then it is like this.

From the Authority to issue up to 200 million approved on 28/07/17 FG did not issue any shares till 26/01/18 and by keeping a running total with exciting Authority and then when new Authority granted, I calculate that as at 22/07/19 FG had about 395,573,824 shares up his sleeve. Shares were issued for FG salary conversion (4 million) and ForCrowd 54.2 million and that leaves currently a balance of about 337,354,977 but FG still has some salary to convert and ForCrowd are due a few shares so say FG due 5 million and ForCrowd 4.7 million so at present then balance is about 327,654,977.

Then on Thursday assuming Authority granted that is another 200 million shares so FG would have at his disposal about 527 million shares to issue (to whom?)

RKB

PS Popping out to do some Pro Bono work but will be back.

Well will you buy? I will hold of Posting for a while as I have a few things to say, but first do you think there was a leak on Friday? I have the evidence.

RKB

PS Just need admin to remove my this Post and I will Post my evidence, will Admin & Christian take the chance that I will let all PI’s know how to get confirmation of an RNS leak?

PPS The spread is to discourage you and I don’t think you have that thing that Premier League Guys kick-about.

Excellent News

Eufingest converting their Loans into Bonds is excellent news. Still only charging 1% which is not much (even with low BoE Base Rate)

I will Post later some thoughts but this is us turning the Company around, only been here almost 6 years now and an interesting day ahead and the next few months.

LtdAxis are you aware of the significance of today’s RNS?

RKB

Zuuse

When AC updated us a month ago about a further investment in Zuuse of A$2 million (£1.1 million) it would, he believed, be a funding round of approximately A$40 million but from the link provided by Amthekkel it says of the IFM Investors Private Equity Team, “The investment of approximately A$50m and was led by Adrian Kerley and Jeremy Larkin from IFM Investors, both of whom will join the Zuuse Board as Non-Executive Directors.”

So it looks like the investment was 25% greater than anticipated if we assume that Primorus Investments Plc believed it would only be A$40 Million.

Currently we have 2,057,205 shares because we were given 57,205 shares for our interest payment on our loan of A$500,000 which we were due cash of A$57,205 which AC wisely accepted in shares.

Then because we had had the Loan we were given 1 million options at a strike price of 50Cents so already we are in the money for the options as the AS50m.

Under the recent funding Primorus Investments Plc invested AS2m (£1.1 million) for 2 million shares and AC has said we may take some more “secondary stock at a slightly lower price should it become available.”

After our options are exercised then we would have about 4,057,205 shares and there would be about 248,659,118 shares in Zuuse at technically AS248.66 million and we would own 1.63% or AS4,057,205 or £2,231,463 (we obviously would have to hand over about £275,000 for our options)

To re-cap our Zuuse is already in profit and is now technically our most valuable investment.

RKB

PS If you click on Amthekkel’s link in Balanced66’s Post as at 10:53am you will have an insight as to what Zuuse is all about.

Current Assets Aprox £10 million

I estimate our current assets are about £10 million.

Engage Technology Partners Ltd £1,730,592
Fresho £369,858
Nomad Energy £225,000
SOA Energy £99,897
Sport:80 £100,000
Stream TV £154,000
Truspine £183,333
WeShop £898,190
Zusse £1,406,463
Cash From Greatland Gold sale £4,618,000

The above comes to about £9,785,333 and we had cash of £676,000 at 30th June 2020.

Alastair Clayton only invested £629,000 in Greatland Gold but he put substantially more in Engage Technology Partners Ltd, almost three times as much. Now if you knew Timmit and his background and were aware of what the Business of Engage Technology Partners Ltd really is then you may see a similar percentage return on Engage.

RKB

Profit 937.56%

Excellent profit on our Greatland Gold investment.

I have calculated with the information available that AC has returned a profit of about 933.56% on our GGP Shares. With Alastair Clayton’s background in Mining he certainly called it correctly. AC Invested approximately £629,000 in total in Greatland Gold Shares beginning only two years ago this month with an initial purchase of £450,000 and then further top-ups £145,000 in January 2019 and a final top-up in March 2019 of £34,000.

Looking at that “small” top-up of £34,000 where we received 2 million shares and if you use today’s price from our excellent RNS we received £0.2309p per share then those 2 million shares grossed £461,800 or a “profit” of £427,800.

The reason I highlight this final top-up is because often some PI’s are investing £30K + in AIM Companies and I invested over £37K in Primorus Investments Plc with my first purchase in January 2018. Now if I had the knowledge that AC had then I would probably not be sitting typing this Post.

All genuine LTH’s on our B.B. should be grateful that our Company now has liquid cash to invest as our New BoD decide within our “stated investment policy”

Thank you Alastair for a wise investment.

RKB

300 participants on the Investor Presentation.

RKB

AGM & Investor Presentation

There is a possibility that immediately after the AGM we will have an RNS to say that all 10 Resolutions have been passed with 99.99% votes in favour especially Resolutions 4 & 5 (to re-appoint Trevor & Antonio)

There then could be some figures that we will be given in-advance for the Investor Presentation at 4pm.

RKB

Hello LtdAxis

I was beginning to think our B.B. was being censored as Turnthecorner posted at 10:49am and the Post is intermittently popping up and then disappearing (good to know PR is earning his crust as he can’t get paid at his Altona Energy as there seems to be a little difficulty over on the Aquis Exchange, maybe he needs to go to Lugano as I hear there are deep pockets getting filled there)

I think the Interims are coming out this Friday but I can’t recall how I know that. I did look to see if FG RNS’d it or if it was in the Final Results. I recall I was informed the Interim Results will be published “no later than the 30th October” As in my blog we will see Profits but will that be any good for LTH?

As regards CLP being available to Trade well at the moment it is not really. One numpty lost £217 between 8:08am and 12:47 and lost over 20% of their Trading-Pot. There were two occasions this morning if you were brave you could have bought at about 0.23p and possibly sold for a maximum of 0.25p so you missed a 10% turn but I am sure you will have more opportunities as we approach March next year.

RKB

Good Morning LtdAxis

I compiled my Posts late yesterday evening so I had not read your Post from 22:27.

I have to agree with your view about Eufingest and I quote “No doubt they will as this operation has to be seen to be legitimate until they get their money back, by whatever means they can devise.”

I disagree about the trades but what do I know?

I have to admit you have sussed out how to make money on CLP and I have to give you credit for that, well done. As I said in my blog earlier do you want to stick around till March next year? Because we will not go above the price ForCrowd received their shares at which as you know was 0.3582p

I hope I managed to make you smile at my last comment (about the hotel) because there is nothing to smile about being a LTH in CLEAR LEISURE.

RKB

Good Morning Allthatglitters

Part 3 off 3

4th Positive: Why are our legal fees capped at the low value of €35,000 in a potential claim of €10.8 million? Is it a case of you only have to be present in Court as it is a done deal? (re-read what has been communicated from RNS 13th Feb 2020) This clearly states Clear Leisure was the controlling shareholder of Sipiem and that the minority shareholder tried illegally to take control of Sipiem but on the 10th Feb 2020 in the Turin Court, Clear Leisure were assigned the controlling shareholder. This was fortuitous because the Venice High Court hearing was 5 days earlier and that set in motion the events that have since transpired where....

5th Positive: The Venice High Court appointed last week an Independent Expert to assess the potential value of damages.

6th Positive: Now when you re-visit the Mediapolis potential legal claim which FG said could be worth millions. FG has already shown his hand by offering €50,000 for the claim, we do not know if this will proceed to Court or if FG will actually be able to buy the claim for €50,000 but I am confident FG will have offered the Receiver a similar deal as the Sipiem Receiver (30%) and we will again have to probably wait till Covid-20 before we hear anything.

7th Positive: Not only do we have a €10.8 million Sipiem Court settlement being assessed by the Court Appointed Independent Expert we also have a Credit claim due from Ondaland of €238,000.

8th Positive: We have purchased the Sosushi claim worth €1,030,000 for €10,000 and our legal fees are capped at about €20,000 and FG estimates the potential return could be about €900,000.

9th Positive: We have some shares in Geosim, about 4.53% and on paper worth about €596K to Clear Leisure but substantially worth more to FG (if you know the history)

Conclusion: We will win the Sipiem Venice High Court Case and as the Independent Court Appointed Expert could take 4 months to compile his / her report this fits in just dandy for ForCrowd to have their dump and then acquire substantially more shares.

RKB

PS LtdAxis, our share-price will be held below 0.35p till the 1st March 2021 and then finally FG has his goal, do you feel lucky? Do you want to wait here for another 4 months?

PPS Just to be crystal clear the big sells were not sells.

Oh, almost forgot, Allthatglitters you will have to really shout as LtdAxis likes to get his point across and can’t bear seeing someone Post above his Post. I think the newspapers he sells are not selling as well as they used to due to lockdown but I hear the Local Council are putting certain people up in Hotels to keep them safe (from themselves)

Good Morning Allthatglitters

Part 2 off 3

What you have to factor in is the fact that ForCrowd sold shares in January at 0.25p but last December it was about 0.32p and 0.3p but when I informed FG in Dec / Jan (can’t recall when) that replacement shares cannot be issued below Nominal Value what happened in January was that the Bid was “held” all month at 0.25p (I have a list of the spreads from November last year till today) and we began January at 0.25p through to 17th when it went up on the day to 0.27p and then more or less hovered around 0.25p. But of course there is no way the Market was held back to accommodate ForCrowd to unload that was purely just coincidental.

It took until the 13th February 2020 before our share-price was above 0.25p and again only coincidental that “The Market” had to absorb their Dump.

It is not all doom and gloom and there are some positives that any potential Investor has to weigh-up.

To summarize, ForCrowd, ia not a good investment for us but good for the True Beneficial Holder of the shares that went originally to ForCrowd and by 28th February 2021 we will know how many (if any) shares ForCrowd still retain and we can estimate the damage this badly structured investment has cost LTH.

1st Positive: We will acknowledge the first instalment of the receipt of funds, CASH, in our Interim Results which are being released later this week. We will I believe post a Profit. I am not able to say how much profits as FG, RE, PR and a few others like to down-play everything for their own reasons which I can only hazard a guess as to why they constantly do this. We received €1,480,932 cash as our first instalment from the sale of the Land. From this FG paid himself oops sorry my mistake paid Eufingest €550,000 to reduce our Loans to them and because he charges us only Nominal Interest FG transferred from one pocket to the other about €11,157 in interest payments due on the Eufingest Loans.

2nd Positive: We will receive the balance of the Land money at some point but I think Covid-28 will be here first. The outstanding money we are due is allegedly €182,067 less €50,000 for the Legal Claim Bid.

3rd Positive: Because FG managed to cap our fees for the Sipiem Venice High Court Claim at €35,000 and only paid €50,000 to acquire this claim worth about €10.8 million then because the Sipiem Receiver will receive 30% of any claim paid out then there is a possibility that unbeknown to us (but known to Eufingest!) does Clear Leisure have a Creditor Position that we have inadvertently not been informed about? As we were diddled big-time at Sipiem (remember in 2015 we were about to acquire 100% of Ondaland then)

RKB

Good Morning Allthatglitters

Part 1 off 3

We have as at today officially 662,371,447 shares in issue and no shares in Treasury. So at our Bid price of 0.2p then we are “worth” £1,324,743.

Now we have no Warrants available as FG & RE our two Director’s Warrants expired in July this year.

Technically we should have issued more shares but FG has decided not to inform us when or if they were issued. Shares are due to be issued for half of FG’s salary which means £30,000 will convert (or have been converted) into shares. FG does not tend to take his salary sacrifice at the current underlying price and has in the past taken shares at a premium; 2015 @ 0.875p 2016 @ 0.82p 2017 @ 0.98p & 2018 @ 0.75p. Again when I spoke to FG in May this year and asked him why he had not yet converted his 2019 salary he said he was “not in a hurry to collect his shares as he has no intension of selling them”.

We also have as in my previous Post some shares (quite a few) to issue to ForCrowd and if our share-price remains below 0.3482p then it is my understanding that ForCrowd will sell all of their current 40,718,847 shareholding because FG gave them a gold-plated guarantee that we would reimburse them for 90% of their “paper losses”. I have posted in the past that FG can only issue replacement shares at minimum of our nominal value which is 0.25p so on a worst case if all the shares were sold at 0.25p then using only the 40.7 million above (it will be a lot more) then ForCrowd would only receive about £101,797. But technically ForCrowd took these shares at 0.3482p so they were worth about £141,783. So their loss on paper could be £39,986 and FG will hand them back shares for 90% of this “loss” in shares. The loss in this example would be £35,987 (minimum) and as shares cannot be issued below Nominal Value then ForCrowd would possibly receive about 14,394,927 shares. This is better than issuing Warrants to yourself as you issue some shares, no money changes hands, sell a first batch of shares and then sell the rest and then you have all your money back, although you never paid any money in the first place, receive actual money for your two dumps (who needs a Broker when you can implement that yourself!) and with the gold plated guarantee to make up the 90% paper losses you hand yourself replacement shares and that is a good deal for LTH?

To be continued.

RKB

ForCrowd

Well this investment in ForCrowd has not turned out anything like we were led to believe. The idea seemed good but the reality is not.

When I spoke to Francesco in late May this year (just about a week after we received a speeding ticket) I asked him if he thought we had “got a good deal” with ForCrowd and he said we got our 20% investment on the cheap. Now I am beginning to think it was not Clear Leisure Shareholders who “got a good deal” but the beneficial owner “within” ForCrowd who got a very good gold plated deal.

The way FG structured the share “lock-in” did severe damage to our share-price in my opinion and I believe there is a correlation with our share-price and the clause that ForCrowd have to be reimbursed for their notional losses.

We issued ForCrowd with 54,218,847 shares at a premium at the time of 74% and at 0.3482p. ForCrowd were permitted to “sell” up-to €40,000 and they sold 11.5 million and we may find out within our Interim Results later this week how many additional shares FG has issued to emmmmm! to make-up HIS paper-loss.

We now have to wait to see what ForCrowd do when their next “wide-open window” is flung-open on the 28th November 2020 when they can sell ALL their remaining shares. What is not clear is, if the Additional shares issued will be part of their holding that they can dispose of. What we do know is that ForCrowd were left with 40,718,847 shares and they will be issued with replacement shares for their “losses” on the 11.5 million shares sold in December & January and if they dispose of their entire shareholding then they will end up with substantially more than their original 54 million +.

FG dispatched a previous Broker because they were (and still are with the Companies they currently represent) serial placers and always insist on Warrants. FG does not like placements and does not do Warrants. I have always had the impression FG wants to keep the number of shares in issue as low as possible but the ForCrowd “farce in my opinion” goes against the grain. But then again, what if the ForCrowd shares are going to a “good home”?

Our Interim Results should show a profit but what will they really tell us?

RKB

PS 4 mins before the close HL managed to switch the switch and now if I wanted to “buy” I could.

PPS Remember MM are not your friend and they have to make a Market look like a Market, I disagree with many of the recent trades.

HL Still Suspended

For the record I am still holding and control a fraction below 1%.

HL only had our share trading for about 20 mins last Monday then it was “suspended” I emailed HL last Tuesday or Wednesday and also updated FG, RE & PR. FG emailed back saying he emphasised (my interpretation) but it was not something he could control or fix.

I called HL later in the week but gave up waiting on the phone (all companies are impacted by Covid-19) so I do not fault HL for not being able to answer my call then. Today after a period I spoke to a nice gentleman at HL who is now investigating and will let me know.

I believe LtdAxis could be with HL (he could be with other Brokers as well) but if that is his Broker then he will not have been able to buy after those large dumps.

I have a Post prepared about ForCrowd which I will Post after HL lift the suspension and I will Post after the Market has closed.

RKB

Just for you Theosus (and maybe LCR)

Comparing our First Quarter Update & our Third Quarter Update.

Assets increased by £849 Million or 3.99%
Loans increased by £573 Million or 3.95%
Deposits increased by £1,068 Million (over £1 Billion!) or 7.34%

Now Theosus looking a little more closely at what was published today you will note that we have lent out about £1.3 Billion in Government backed loans but our First Quarter Update did not have any of these Guaranteed Loans.

So using your slide-rule take away £1,300 Million of Government Backed Loans you now have a comparable figure of our “normal” loans which means in the Third Quarter our loans excluding Government Back Loans are £13,785 Million and in the First Quarter they were £14,512 Million so a decrease of about £727 Million.

Now what this means is that although our loans have technically increased they are guaranteed by the government.

As I used to work for a Glasgow Headquartered Bank, I took a look at their more recent Q3 Results. Deposits up by 4.8%. I know I am not comparing like for like but by Posting this I am sure and LCR will have a busy day trying to do what you do.
Enjoy your day. I am away on some personal business.

RKB

Theosus, have I touched a raw nerve?

If you had been paying attention then you would be aware my average is £0.95218 or 95p to make your brain comprehend.

If you were able to talk to LCR then both of you could get out your slide-rules (I am sure you are of an age to be able to use one or do you use an abacus? Or you a binary person like LCR?)

Now as I am touching a raw nerve I think it is time to put more pressure on you. At the time of this Post (about 9:15am) the live price is 60.10 - 60.36 + .83p and indicating up 1.4% let us three (you, LCR and myself) see what happens after I post my next post.

RKB

I am happy with the update.

I have sent my thoughts via a DM to a trusted friend.

Pointless expanding here as it may resurrect Last Call Rising (only nutter I have on filter) but I am sure he is reincarnated and playing with his thumbs (twiddle all you like as my average is 95p)

I wish all genuine LTH well.

RKB