Member Info for RKBeekeeper

Good Morning Knigel

It is not straight forward with the Trade Receivables.

We do know from the Full year accounts that included in the figure of €7,003,000 there was a note to say that €4,440,000 is due from Sipiem. But in our Interims today we have a figure of €6,631,000.

I have been in communication several times this morning with Christian and I do not want to become a pest, so I have asked Timmit if he could comment on your question.

Having a buyer of 5 million is a good start for the day, pity they delayed the trade but then we are all used to that now on AIM.

I am talking to Brokers as I think I found out something which if I am correct I will flag up.

RKB

PS for the record our Public Relations Company Leander, Christian Taylor-Wilkinson is very approachable and is always happy to answer your questions.

Interim Results

I was not expecting our Interims to be published today because three out of the last four years they have appeared on the last available day permitted (2017 they came out on the 18th)

There is not much that I can really say about these interims for the first half of 2019 but there are a few positives comparative to the previous years interims. (Figures below relate to first 6 months of 2019 and 2018 only)

Our Loss has been reduced by over €1.1 million to €477,000 which is a good step in the correct direction

Our Finance Charges have also been reduced by €38,000 to only €98,000. When you actually study our finance charges in greater detail and realise that is all we are paying for our debt, then you get the measure of what Francesco Gardin has achieved by only paying 2.5% on our debt to Eufingest.

Our debt (borrowings) stands at €6,322,000 and our Finance Charges are only €98,000 is truly amazing and I am not aware of any other AIM Company that has access to a financial benefactor at our rates of 2.5%.

We now have to look forward to late November for the cash to be handed over for the Land and a possible early settlement of the Sipiem legal claim of €10.8 million.

Our CEO Francesco Gardin re-empathises “We are now starting to witness some positive results with regards to monetising our historical assets, as well as seeing successes with our technology sector investments, which are proving their innovative potential.”
“The Board remains confident that by continuing with its well-founded strategies, its goal of returning meaningful value to shareholders will be achieved.”
In my opinion Clear Leisure has turned around and exiting times are within sight.
RKB
PS if you understand what FG has achieved by reducing debt substantially and ruthlessly pursuing our miss-appropriated assets you will understand that he is determined to achieve substantial asset recoveries which in my opinion are within sight.

Fallimento Mediapolis Srl

On 26th July 2018 the Mediapolis Land was sold at Auction for €1,958,374.

On 19th September 2019 we are informed that the Mediapolis Land was “sold” for €1,958,400 (maybe company just rounded-up sale value!)

On 19th September 2019 we are informed that after “increasing legal pressure” put upon the receiver in charge of the Bankruptcy to “obtain the proceeds ... “THE AUCTIONEER” has now proposed to the Ivera Court to allocate the total of €1,938,309.98 to “Fallimento Mediapolis Srl”

I am at a loss as to why “The Auctioneer” has made the proposal, should it not have been the Receiver?

It looks like the Auctioneer only took €20,000 but there are no details as to what the Receiver is taking. Obviously he did not get anything from the Farmer even though the Land was valued by a Court appointed surveyor at €3,860,000 almost half of what we are getting. Well that is the Italian system.

Maybe by the time we actually receive the proceeds the Euro and GBP £ will be on a parity of 1:1 so we can all celebrate Brexit for that.

RKB

PS Looks like we only have one more day before tissue man is back.

PPS PBV Monitor: see website http://www.centrostudipbvpartners.com/monitor_client.asp?cln=38246342&trk=1 and input under clients the name of the new Medinapolis and you may see something interesting. FI.Ra.Sid Srl

Website

I posted about a month ago and I said you could find out information from the “Current Vacancies” and KOH said it was “reading tea leaves”.

Well if you had been following the current vacancies you would have known if they had increased or decreased and what positions they were looking to fill. You would also know if the Company is putting out “disinformation” or genuine information, you would only know this if you had watched the website.

Today there are five vacancies and ALL say the original vacancies were first posted 17th September 2019 (today) is this true?

I like most can’t believe that they pulled the Bond offering and I have been watching for a good entry point but it never arrived as nothing of note was happening in the Bond Market and now I believe I have had a lucky escape.

I do hope that the SXX share-price recovers and wish all LTH well, I do not wish the shorters well or the Institutions who have “lent” their clients shares out to speculators.

RKB

PS I despise the “I told you so” Posters

Bond Thoughts

LtdAxis

So that there is no confusion regarding the Bonds (as some do not do in-depth research) I have detailed below some thoughts.

We have some Bonds that are due to be repaid in December 2022 which have an option to convert at the Companies discretion.

The conversion rate is the average of ten days mid-market price and between 125% and 500%.

When there was a conversion noticed issued last year and €2.1 million agreed to convert. The share-price was 0.752p and 500% was 3.76p (figures were in Euro cents so they don’t correspond exactly to the 10 day mid-point average)

So FG issued the conversion notice and a few Bond Holders converted and we only gave them 50,992,826 shares which at nominal value of 0.25p were worth about £127,482.

The reason the conversion is 125% to 500% is because the original terms were 15p a share and if our share price was 3p then the Bonds would convert at 15p (3p * 500% = 15p) or if share price was 12p then conversion would be 15p (12p * 125% =15p) I know 3p and 12p share-price seems high but that is only for examples because that is the maximum price Bonds would be converted.

If Bonds were converted at about 0.2p (current share price) then they would convert at 1p (0.2p * 500% = 1p) and FG said he was “current talking to Bond Holders” but we may incorrectly believe he was talking to the small Bond Holders but I believe he meant Eufingest who hold €3 million of the Bonds but...

But FG may decide to offer Eufingest a portion of the Legal Claim purchased recently from the Liquidator of Sipiem. I have always said that Eufingest will get their Bonds repaid in full for cash but now I believe another option is to exchange them for another “tradable item".

Soon we will know the outcome of the Court Case and because you do not know who the Court Case is claiming wrong-doing against you do not know the options that FG has.

Exiting times ahead over the coming months.

RKB

PS It looks like Friday the 13th was unlucky for Tissue man. He has fallen down (temporarily I believe)

Some Thoughts

Good morning Spary1

I believe FG is working on further investment(s) and I believe this solely from the Proactive interview.

It would be nice if something was announced this week but I think it could be before the Interims are out at the end of the month.

FG could invest in something new but he only has shares to issue to acquire a business and as he does not issue shares at nominal value (always at a premium, often 300%) so I have to conclude that if an investment is imminent then it will be PBV Monitor.

We already have 10% of PBV and I can see the longer game that FG is involved with our investment in PBV. We initially exchanged 35,365,389 shares for a consideration of £278,750 or 7.882p which at the time was a 21% premium.

Now these shares are only worth about £74,000 at 0.21p. So if FG was to aquire another 10% then if shares were issued at nominal 0.25p then he would have to issue 111,500,000. Will FG dilute by over 100 million shares?

Why would FG want to acquire another 10%? I would say because PBV Monitor is about to be income generating and then if you re-watch the Proactive interview you will see that FG said investments producing dividends / income.

Whatever FG is working on, he has managed to secure the legal case from Sipiem for about £80,000 with no further cost to us and it is going to happen within the next two months.

For the lazy ones who cant afford to spend 7 or 8 mins watching an informative interview could cost them dearly.

As always you should do your own research, I have, tissue123 has not.

RKB

Hello Linandy1

I hope you are well.

I really did want to stay away for a whole month but Mr xyz(censored) returned and I had to retort. In the past I had to follow him to his other B.B. and post about that share to the extent he agreed to “disappear” but like a bad penny he returned so it appears I am going to have to seek him out and “Post Research” on his other shares and then again with a realisation that he is not being honest on CLP he may just go away.

The RNS on Monday was excellent news but as we know the Market has not responded the way we would have expected, but life is like that.

When you take a step back and reflect on this RNS and what FG has set-up it is actually mind boggling.

FG only paid €50,000 to the liquidator of Sipiem to acquire the €10.8 million legal claim for which CLP2017 would receive 70% of any settlement.

When you think about the actual cost to acquire the claim it is in my opinion excellent value. We owe Eufingest about €3 million but are only charged 2.5% but if we were charged a “Normal Rate” for an AIM Company then that would be in excess of 10%.

Using a notional “saving” of 7.5% (10% - 2.5%) we are saving about €225,000 a year and FG has only paid €50,000 for the claim!

Next: The Legal Fees have been capped at €35,000. Re-wind: Capped at €35,000? So it has cost our Company €85,000 maximum to take a claim forward for €10.8 million. Also included in the €50,000 purchase cost is a €238,000 credit due to Sipiem, which FG has said he will take the most
effective legal action to recover the €238,000 credit from the water park owner TLT (Ondaland)

The true cost of purchasing a legal claim with a potential of over €7 million to CLP2017 is about 2.84% more on our Eufingest Loans (€3 million * 2.84% = €85,200) this is excellent value with no additional costs. FG has capped our liability and if we are successful then it will result in a substantial increase in our NAV.

As FG said “Being in the ‘driving seat’, as it were, we believe we have a far greater chance to achieve a beneficial result than Sipiem’s liquidator, who does not have our resources or experience in these matters”. (remember the Fortune Cookie settlement out of court of £1,150,000 late last year)

RKB

PS If others do not understand the complicated game of chess that CLP is then they could always look at where xyz(censored) is posting and watch paint dry.

Positive Post 10

Well that was an interesting interview with Proactive Investors

Some more bullet points:

10: Andrew Scott: “so how soon would you like to be making another investment?”

Francesco Gardin: “Oh next week!”

Andrew Scott: (with big smile on his face) “Is that realistic?”

Francesco Gardin: “I cannot tell (laughs) because that would create expectations but maybe it is not unrealistic.”

Andrew Scott: “What about the companies’ debt at the moment, are you working to bring that down?”

Francesco Gardin: “Yes absolutely as we showed last year we reduced by more than £2 million the debt and we keep working on this and we currently have negotiations with Bond Holders who we will be prepared to find agreements whereby we reduce drastically our debt to this Bond Holders in exchange of assets or heavy discounts on the debt.” (Bonds)

“When we joined the Company was technically a terminal body and we have been resurrecting this almost dead body and I think that shareholders shouldn’t forget that they were running the risk of losing all their investment in July 2015.”

Andrew Scott: “What is, speaking of shareholders what is the investment case then in Clear Leisure?”

Francesco Gardin: “The investment case is the on one hand the recovery of all this assets and the value of these assets through litigations and we are now talking of a figure in the region of €8 million, that is substantial, plus some of our investments are now showing (the ones that we were involved) are showing high potentials.” End of 7 min 45 second interview.

RKB

PS Cryptic message for the one two three poster, 1 squared 2 squared 3 squared.

Positive Post 10

Well that was an interesting interview with Proactive Investors

Some more bullet points:

10: Andrew Scott: “so how soon would you like to be making another investment?”

Francesco Gardin: “Oh next week!”

Andrew Scott: (with big smile on his face) “Is that realistic?”

Francesco Gardin: “I cannot tell (laughs) because that would create expectations but maybe it is not unrealistic.”

Andrew Scott: “What about the companies’ debt at the moment, are you working to bring that down?”

Francesco Gardin: “Yes absolutely as we showed last year we reduced by more than £2 million the debt and we keep working on this and we currently have negotiations with Bond Holders who we will be prepared to find agreements whereby we reduce drastically our debt to this Bond Holders in exchange of assets or heavy discounts on the debt.” (Bonds)

“When we joined the Company was technically a terminal body and we have been resurrecting this almost dead body and I think that shareholders shouldn’t forget that they were running the risk of losing all their investment in July 2015.”

Andrew Scott: “What is, speaking of shareholders what is the investment case then in Clear Leisure?”

Francesco Gardin: “The investment case is the on one hand the recovery of all this assets and the value of these assets through litigations and we are now talking of a figure in the region of €8 million, that is substantial, plus some of our investments are now showing (the ones that we were involved) are showing high potentials.” End of 7 min 45 second interview.

RKB

Positive Post 9

Well that was an interesting interview with Proactive Investors

Some more bullet points:

9: We are looking at the Crypto space we fixed a situation, we should not forget we are an investment company, we are not involved in the running of the business of our investments but at the same time if we realise that something is not right, then we correct it and in this case we managed to buy-back 50% for one euro (€1)

Francesco Gardin: “So now we are looking at partners in the Crypto sector who will basically will take care of the Data Mining Centre facility and put it back into production.

RKB

PS Now what was our initial 50% worth? €200,000. Now if you have done your own research you will know if we invested more. RNS of 2/05/18 indicates between €150,000 and €200,000.

Positive Post 8

Well that was an interesting interview with Proactive Investors

Some more bullet points:

8: We are primarily looking to invest in technology but we are also looking at investments where because of our technical background we can add value and we have a number of investments that we are looking at right now, where we are completing due diligence, we are very active.

Francesco Gardin: “on the one hand we have the obligation to pursue legally some of the previous investment companies before we joined, but at the same time we are looking forward to the future and we carry on looking at opportunities which should ultimately should benefit our shareholders.”

RKB

Positive Post 7

Well that was an interesting interview with Proactive Investors

Some more bullet points:

7: The litigations are not doing any favours for the share price, Francesco Gardin: “oh sure because of course we are not happy but in the end we feel confident we will recover this money (£7 million) and there is nothing we can do to speed up some legal procedures which are bound by some technical terms that the courts have to take but hopefully given the strength of the case we will come to some settlements hopefully before.”

Andrew Scott: “so is that purely your focus at the moment sorting these out?”

Francesco Gardin: “No this is a duty which we have we basically have to make justice of for some injustices that were made in past at the same time we are making investments, we made an investment last December (PBV Monitor) we are looking at several opportunities of investments and in these investments we also want to make sure that during the course of the life of the investment we will not only get some dividends but also get some commercial involvement in helping these companies to generate revenues and generate revenues ourselves at the same time.”

RKB

Positive Post 6

Well that was an interesting interview with Proactive Investors

Some bullet points:

1: Started as an Invested Company before FG joined in 2015

2: Tried to fix some of the problems the Company had at the time.

3: Re-adjust the value of some of the assets that were astronomical, it is a long process unfortunately as it has to go through courts.

4: Latest outcome of these procedures is the acquisition of a claim by the company which is worth £7 million from a subsidiary, which was announced this week.

5: We acquired this claim, which is a strong claim legally.

6: Our lawyers accepted to work for an success fee and the interesting thing is that some of the people, the professionals involved in this claim have professional insurance (indemnity insurance) which by Italian law they must have. “So in any event we know we will recover the money at the end of this the trial”.

Andrew Scott: “so you feel you have got a strong case?”
Francesco Garden: “oh definitely, and we will, the first hearing will be in November, so the day is getting very close and the other party is getting very worried.”

Andrew Scott: “There are a number of various litigations that the company is involved with, when are they going to end?”
Francesco Garen: “Our purpose is not to be a litigation company; our purpose is to basically make justice of wrong doings .... “the optimistic outcome is to come to a table and have a settlement as we did in December where we had a very strong case and the party decided not to go to trial ... and we had a settlement and we recovered £1,150,000.” “Clearly if possible we will go for a settlement but if not we will go up to the end of the procedure.”

RKB

Positive Post 5

In 2018 FG managed to re-jig the Bonds. There were a few Bond Holders meetings arranged where there was a stacked deck of cards.

First Eufingest did not attend so there was no quorum so another meeting was arranged and the criteria for a quorum was reduced.
The first meeting 5/06/18 was to move the maturity date to 15/12/22 which was 4 years later but technically 7 years as the original maturity date was December 2015.

Also at this meeting it was to agree to convert the Bonds into shares.

At this meeting the quorum was 75% of the Bond Holders but if this was not met then two weeks later another Bond Holders meeting would take place and only requires one Bond Holder to form a quorum. (Smart move FG) but when we received the next RNS it said 25% of Bond Holders by value is required and as Eufingest hold more than 25% it was a “done deal”.

We find out from RNS of 19/06/18 that Bond Holders present agreed to the redemption date of December 2022 and that Bonds could be converted to shares.

We also have confirmation that Eufingest hold 43.48% of the €6.9 million Bonds and that means they hold €3 million.

Fast forward and another Bond Holders meeting is held on 29/08/18 but the quorum of 66% was not met so next meeting only requires 25% and as we know Eufingest hold 43.48% and on the 12/09/18 the Bond Holders agreed to move maturity date to December 2022 and permit conversion into shares at up to 500% of the current share price.

As we all know a conversion notice was issued to convert at 3.76p which was 500% of the share price 0.752p and later in the year €2.1 million agreed to convert and 50,992,826 shares were issued in December and €2.1 million of debt was removed from our balance sheet.

Now is that not positive?

RKB

Positive Post 4

Say I had some money to invest and I was not to do any proper research and RKB said you should invest in CLP or AST (please note I only picked AST because it was on the leaders board 3rd at time of posting and a similar price)

CLP versus AST

Spread CLP Spread AST
0.20 – 0.22 0.20 – 0.30

Shares CLP Shares AST
608 million 2,627,000 million

High CLP High AST
1.05p 0.975p

Low CLP Low AST
0.175p 0.15p

So would you invest in CLP or AST?

I know where I would put my money but that is because I have done my research.

RKB

PS Cryptic message for the one two three poster, 1 squared 2 squared 3 squared.

PPS I am sure you will be able to work it out and you do not need a calculator.

Positive Post 3

Clear Leisure has a fairy god-mother in the form of a Swiss backer called Eufingest.

Eufingest have basically supported Clear Leisure with loans over the past few years.

The interest rate on the loans are only 2.5%

If you find another AIM company that has access to funds at 2.5% please let me know.

RKB

PS Cryptic message for the one two three poster, 1 squared 2 squared 3 squared.

Positive Post 2

Francesco Gardin Chairman and Chief Executive Officer has a salary of £60,000 of which half is paid in shares.

From RNS 29th August 2019 FG received for his £30,000 salary sacrifice 4 million shares which were issued at 0.75p when the share price was 0.2p

Why would FG take only 4 million shares when he could have received 15 million? (15m * 0.2p = £30,000)

Our nominal value is actually 0.25p so technically FG could have received 12 million but he only took 4 million, why?

RKB

PS Cryptic message for the one two three poster, 1 squared 2 squared 3 squared.

Positive Post 1

Shares in issue only 608,152,600

Why not billions?

Who stands to gain with low number of shares in issue?

RKB

PS Cryptic message for the one two three poster, 1 squared 2 squared 3 squared.

Wrong

Boom you are so wrong. Sore loser?

I do not think you can short CLP so why would you post if not buying or holding?

Did you loose a fortune?
Did the Mrs throw you out?
Are you not able to do research?

I hope you lost your house and Mrs as then I would understand your bitterness.

When I do sell my 10 million I will let you know personally face to face.

I will also set up a scholarship in your name Shaz.

It will provide accommodation for duration of University stay providing the recipient reads all your posts and is able not to laugh and wet themselves at the same time. I know it will be hard to be awarded this scholarship but it is more appropriate posting my “crap” than yours.

Enjoy your day.

RKB

Post Removed

I stayed away for 9 days, posted last night and Post is removed.

I don’t have inside information and it appears that Boom123 or a n other can have my post removed.

Even if I had inside information (which I do not) I would not post it.

Boom123 is not a nice balanced Poster as he has shown by his actions.

I am the one who has posted my research and my conclusions, he has trolled.

I do know stuff that I requested someone not to let me know but he still “informed me” but “he” hears what he thinks he hears whereas I know what I hear and I have heard nothing but.

But today’s RNS will turn out a lot different than what we may think.

You have to know how FG thinks and executes his vision and there is a twist coming.

RKB