Member Info for Sanboy

There is an EGM to be scheduled at the end of this month to confirm completion of deal. Probably jumping the gun with this statement, although its basically done bar some loop closing e.g Warrants issuing, paperwork, contract sign off etc. Probably couldn't do that during silly season.

San

I disagree, im going for a funding agreement

San

But you shouldnt be looking at what they have now, you should be looking at how that may be used for what VLRM want to do. I would assume that some sort of digital trading platform would be the strategy and Gatenet tech would be a foundation for this, but we wont know that until an RNS is released. Remember this is speculation so we may not be doing anything with Gatenet btw. I will ask the group when i get in from the office ;)

San

Have been investing in stock for a while and on penny stocks that have no revenue the PE value is based on potential rather than actual revenue. With that base as a value driver, i would say the board have been successful in the following ways

- Killing off the CLN - Value in that being the removal of future dilution and selling into a buyer driven market. Not to say that there may not be a placing/funding line in the future, but the market looks kindly to a potential better deal rather than Yorkville who are renowned for their short term hold. The removal allows for a higher placing price as that throttle has been removed

-New Board - Removal of a reputationally damaging CEO and by Share holder driven sentiment will help future PI investment

-Appointment of Karl Moss - I have my thoughts on this, but i reserve judgement until we get more clarity, but the experience he provides and the perceived future direction as a result of this appointment will only provide more value.

Considering they have only been going for a few months, i would say that is a lot of good work in a short timeframe. As i imagine you are aware, basic things in business take so long, let alone removal of a board, so that above in short time is good going. As i keep saying lets give them time to release their strategy and plan.

Again just my take, but in fairness posters on here have been hammering VLRM for having RP, Lenigas invested and delayed GSX, but now that they are gone you need to at least give this board a chance to succeed or fail before commenting on performance. As i have said, there are loads of good questions on here that investors want addressing, so take them to the AGM and then you will get an answer if they can provide them.

San

I dont think it was escrow, as i believe 1 of the RNS stated that the 50% ownership had gone through meaning full transfer of funds. I think that this along with Karl appointment is why there will be something with Gatenet and VLRM together. Personally, if Gatenet have spent 27m and are at the stage of releasing something then anything VLRM do with them now means VLRM get the fruits of that spent labour. Obviously the 24m spend on the VLRM side with nothing to show is a negative. It will be interesting to know what Value the market puts on partial VINANZ ownership, anything with Gatenet and the new board. Time will tell, but at the moment there isnt much to go on until the board release something. I cant complain on how they have performed so far.

San

Good plan. Am a member on the telegram group so will post

San

Can you post a link to the current gatenet financials as i cant find them. I may be going completely blind. Wouldnt mind seeing the breakdown of spend on the books and the current asset breakdown

San

Yup defo accountable, which frustrates when he blamed RP for funding holding him back. However, lets see what he presents as the plan. The appointment of Karl Moss is a nudge to VLRM intent in my opinion, but again just my opinion .

San

I kicked off about this months ago in the Telegram group. There is no reason why he cant buy any shares and i told him that. He needs to step up now as RP is gone and the new board are clearly moving in a direction. Clearly a chap who knows stuff but haven't seen anything yet from him. Believe he said that he has a plan written up and is ready to go with it so lets see what happens.

San

Fantastic questions that won’t be answered after 4 days of suspension and around a few weeks of the new board. Let them settle in, forward those questions to VLRM and let them be addressed in the AGM. You may get a better answer than on a forum that nobody posts to. I can provide my take if you want, but no value in that. The value will be at the AGM when you ask those questions directly to the board. Remember in order to oust a CEO you need to ensure that you have sufficient backing from shareholders to the tune of over 50%… RP resigned so must’ve know his days were over, meaning no requirement for EGM

San

I've always called him a lizard Mustard ... Doesnt mean he isn't clever :)

The transparency promised in RNS will be a good thing, so we can find out where the money went and what we have now.

Lets give the new board a chance and see where we are in the next few months.

San

Nice to see some transparency on what the books are saying and how this was managed by the Lizard. Market likes it so far

San

Felt like your sell was the base to get shares to fill the big buys. I think this may have been a mistake, but getting something back is a positive. Personally i would've waited after the morning flurry as you can get a feel on how the mms will move this. At the moment it looks like they want to push this higher. NT to buy and dummy sell at 3.35p on 100k shares.

San

Why would you sell on opening at 40% down? Give it a bit of time to see how the market reacts to the RNS.

Good to see VLRM back trading.

San

Fair enough.. take it steady

San

You guys should all join the group on VLRM. Lenigas no longer admin, RP gone and Patrick and James both in there. Can’t provide insider info obviously, but James has posted about his movements over the coming days to Gib. BTW as I have said a few times and will say again, you guys have got Pete completely wrong. The guy is MrVLRM and is doing everything he can to get value back for his own holdings but also for everybody else. Up to you if you choose to believe me or not. If you are actual shareholders then there is no reason why you wouldn’t be in that group with directors in it, even if to challenge them imo

San

Just going by the RNS as are others. The GSX is still happening until told otherwise. Also gatenet/GSX group head posted about the urge to get this sorted. Never compare me to Lenigas the snake. Although I’m looking as fat as him with all these pina coladas

San

It will be suspended until better clarity is sought on the GSX purchase, which contrary to some statements, is still happening along with funding. More to follow I imagine :) . Btw I’ve noticed only negative stuff on here, nothing on the power of the shareholder group that ultimately removed RP, not an EGM which is usually the case. Very rare for a shareholder group to have that organisation and clout to trigger change at the top. Good to see Patrick in the group and not running off with his bag of money and in his cowboy hat. Suppose we will find out the truth that he hadn’t been paid in a long time and was owed expenses.

Would’ve posted a while back but am in my budgie smugglers on a beach in Barbados

San

Have you asked for an invite? I think it was lockdown because of a few unsavoury characters who were sending abuse to the group and to members directly, but not entirely sure as i didn't get anything at me. There is nothing in the Telegram group that isn't in the public domain as that would be illegal, but i cant vouch that people aren't getting information directly if they are mates with people high up. Its safe to say that trust isn't high when describing this board. Its all discussions.

If you are on Telegram, ping Peter and ask to join

San

EdwardsNewbie am very rarely on LSE boards so don't see posts. Also a lot of posts get deleted so i don't get what the thread is about on most stuff :)

San