Nofookinfear,
although I can formulate a complaint to ReSolve, is there any change of you posting a copy of the complaint you have already sent, as often a similar worded complaint (not identical) has a better chance of a result.
Hi Callit,
i am sure they have approached several institutions for funding, but no doubt these institutions have carried out due diligence, and come up with the same decision as we would if the company had approached current shareholders for financing via a share offering.
Would any current shareholder increase their holding on looking at the companies record of misleading statements, not me that's for sure.
Trisor,
The situation with resolve is definitely a conflict of interest, and depending on the outcome, yet another reason for the FCA to be involved.
Trisor,
Although I have already submitted a report to the FCA, I am not going to approach the media till I see what is the final decision taken by the board re the winding up or not of the company, as it might just prejudice any investigation by the appropriate authorities.
Like you, I have little faith in the FCA, due to several reports I have read, regarding no action taken against other companies that have gone down the same route as NNN, and also not receiving a case number or even acknowledgement of my report.
Years ago, when you could contact the FCA by e-mail (they now make that very difficult) you always received a case number, plus of course proof of e-mail sent.
The complaint form that they now tend to direct you to, is not really appropriate as you have to categorize yourself under reporting sections, which tends to bring up the response' We might not be able to help in this matter'.
Selecta6,
Will do re any media contact I make.
If the FCA do not do their job (I have very little faith in the FCA, as they have not acknowledged my complaint, so I do not even have a case number), I will be contacting as many press outlets as possible, in order to get this story out there.
Whilst I appreciate such action will not lead to any compensation, it might hopefully result in possible criminal action, if any culpability in law is discovered.
The media, as we know can rattle even the strongest cage.
Hi Pandy2,
Agree with your post of 0034 hrs today, apart from the comment 'I feel sorry for all you individuals.'
I myself, have no sympathy for these idiots, who must spend a big part of their day, trolling anything they can.
Hi Piltick,
I appreciate that as agent representative, they require very little in the way of anything other than an office, but apart from the low cash position, their accounts are due by 31/05/23 and according to account record, it states they only have 1 day left to submit.
Not worried by this, would just like a bit more clarity/info on their record of achievements.
First thing I looked at was the company Noage Ltd.
I won't comments as I see others have, except to add that I find PHE choice of companies to engage with strange.
I do though think that PHE have not tried themselves into knots as they did with Peal, leaving most of the cash they have mentioned, only payable if targets are reached.
I would have liked to have seen more in depth reasons why PHE have tried in with Noage.
Also just voted against all resolutions.
A dumb question, but I have forgotten how shareholders can cast their vote, (its an age thing). My share are not held in a nominee account.
Is a voting form circulated by the company, or do you have to register to vote.
Liquidation.
If you were a director of a company in compulsory liquidation or creditors' voluntary liquidation, you'll be banned for 5 years from forming, managing or promoting any business with the same or similar name to your liquidated company. This includes the company's registered name and any trading names (if it had any).
So liquidate, change the name to a name that has no similarity, even if that new company is very similar (as it is only the similarity in name change that counts) commence trading (there is still plenty of valuable IP in NNN), make money that you do not have to share with spare holders (the new company, trades as a Private Company, no shareholders. You get rich, previous shareholders loose out. Simples.
After much digging, I finally found the correct way to report NNN to the FCA (much easier before when it was by direct e-mail).
Market abuse report can be found at https://tinyurl.com/yc6s3n4p
My report.
At the above time/date the company released a RNS stating that at least 7 companies were very interested in their products.
This RNS was worded in such a way as to convince investors that the company was not just solid, but very likely to sign several contracts.
Less than 4 months later, on 16/05/23 this company issued 2 RNS regarding shares being suspended and that the company was seeking liquidation, hence the shares were suspended and classed as worthless.
The release of the RNS on 17/01/23, cause the share price to rocket by over 40%.
I submit that this RNS was designed and intended to xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx).
Pre the RNS on 17/01/23 there were several RNS releases all very positive as to the companies future.
I consider that XXXXXXXXXXXXXXXXXX was not as forward in it's nearness to contracts as made out.
I have not attached any of these RNS's, as they are self explanatory.
NOTE. Were there are xxxxxxxxxxxxxxxxxxxxx, these are parts I have redacted, in order to not leave myself open to legal action.
I have also submitted the report without as much detail as I intended as I feel the RNS's released over the last 12 months, and several before this time are self explanatory to the FCA.
We must stand our ground and fight this, either by jointly submitting a complaint, or individually.
The important thing is, 'Do not leave it to others, to complain on your behalf'.
Usmankhan,
Fully agree re your comment, 'personally I would like to go down swinging and trying every avenue.'
I am not giving up on this, and within 7 days will file my complaint to the FCA, re misleading RNS's.
If any of the patents or/and IP's of the company were as good as we were lead to believe, these alone have to be worth a few quid.
We must make sure that the companies actions are fully scrutinized, or if there is any value in any patents or IP then it could end up in the directors pockets.
i also want the FCA to look into any instances of insider dealing.
Mulletman,
For me, it is not a case of whining to the FCA, it is a case of trying to make sure members of the board are taken to task and hopefully are both banned re any future directorship of any company and/or fined for possible corruption and fraud.
I had already checked the complaint form on FCA email link, and this type of complaint brings up, 'Sorry we might not be able to help'. So what i need is a direct email address for the FCA that by-passes the contact form route.
The last time I officially complained about a AIM company to the FCA it was very easy, although time consuming.
I have spent the last 30 mins trying to find a current e-mail address, with no success, so it looks like the FCA has made contacting them re a complaint more difficult.
Anyone have or know the FCA's e-mail address.
1 Of course Cave or and others involved in this company are not going to apologize, as to do this would be to admit culpability.
2 As Trisor says, do not start trying to ring or contact any one from this company, as to do so could give them grounds of harassment.
Any complaint without going through the correct channels will only weaken shareholders position.