Member Info for Scotty77

the race was bit anti-climatic similar to MMX on this far from sunny day in the gloomy UK. I guess there will be a number of sales on Monday but am i prepared to sell at any cost. Interestingly SJL you have suggested a form of compensation you might accept is more shares which does to me at least suggest you still see value here other wise why would you want them..

I’m guessing an RNS is unlikely on Monday if the letter was only sent on Friday. They will need to review the content and take advice as to its intention before they notify the market which presumably will take at least Monday so maybe RNS Tuesday..?

If MMX know the documents and evidence prove your suspicions are correct they were never going to simply hand them over. Why willingly give someone a gun they’re going to shoot you with. It is a mess and it looks like there will be a few exits Monday morning. Typically Bb chat doesn’t normally have an affect on the SP but I’ve never been in a position where someone who is taking legal action notifies everyone before the company know. I’m not sure whether it’s a good or bad thing. Do you jump on the basis of threats from a random (no offence) I’ve never met on bb. Typically the answer to that would be absolutely not as there could be other games at play. However could this be a rare occasion where we’ve got the heads up about another iceberg before it’s hit.

Maybe TF knows you well enough and knew what was coming. The buy back is just a way to reduce the share issue only to re-ssue $2m dollars worth of shares in compensation.. Hopefully MMX take a day or so open their post and an RNS doesn't get issued until Tuesday\Wednesday so i can exit Monday.

or in fact any of us who have bought based on the information we were provided.

Bakky, makes sense but in the same vein couldn't and recent IIs purchasers raise a similar lawsuit.

I am bias neither way but struggle to see a case. I'm assuming the purchase price for ICM was negotiated and agreed on. It was then paid for in cash and shares at that price. From memory there was a tie in on when the shares could be sold. The SP demise post the purchase, appears to me at least, to have happened way before any of the news or falsely warranted information came out to the public. Is that true ?

If so couldn't it be argued that whilst undoubtedly there were false hoods made the actual decline in SP and ultimately devalued amount of the shares received was not as a result of that mis-information and therefore any claim to the contrary difficult to prove.

SJL when you sold your holding at the time the reasons given here were that you wanted to be in cash given the covid situation and another business that needed to attention but fundamentally felt the business was still solid. So even at this point know one knew about the creative accounting and yet the SP was low. Obviously I don't have all the facts but outside looking in it looks like a punt was taken on a part cash and part stock deal. The expectation was that the stock price may rise given the info you were provided. However the stock price fell for what appears to be reasons other than the misinformation and therefore has no bearing on the losses that took place. Obviously no one can predict or warrant a future share price so what is the litigation to achieve. Loss of what could of been made which seems a difficult thing to quantify or prove given no one can predict a future stock value or some compensation for being lied to. If its the latter could we all not raise a law suit on the same grounds..?

V.strange indeed.. Always makes me nervous. I wonder if another large holder is offloading and the co buy back is swallowing up the sales. If true then at least all those shares get cancelled however the negative is how the move would be perceived. The timing does seem extremely coincidental given SJL recent posts.

I went to sell some today and 5.1 was the price so I'm thinking they're sells... but hopefully not..

so have we now got a new seller...?

Win or lose. It's the damage that is done while it all goes on is my concern. What was once a promising proposition is turning into every other AIM disaster I've been involved in unfortunately. Even if warranties were given the price was agreed and payment made in shares and cash. The share element is always a risk you sign up for and one could argue that regardless of the warranties the SP demise had set in long before we knew about the irregularities. So even without the lies the SP was in the dumpster... Either way it's just another negative for me and I need to calculate the damage of cutting my losses and moving on I think. Life is too short and there is BTC to buy.

in the all the drama I forgot to thank you for your, as always, thorough response SS

to be fair Id rather know...

Isn't the existing CEO one of the original ICM recipients and presumably still has shares (not known obviously) and any litigation by SJL surely affects his financial position which is the last thing he wants... Sounds like this going to get messy....

SJL, realistically what would be the outcome of any actions other than years of litigation and additional cost. Surely your friends and previous ICM vendors would be better served if the company can get sorted and become a viable saleable company rather than one with litigation hanging over it. Or is this more about you personally getting restitution which you are of course entitled to want.

did anyone far smarter than me ever do a calc on how the mis-information should have affected the market cap. I'm assuming we can deduct that revenue from the bottom line of that year and estimate the net affect to the mkcap and how realistically the SP should have reacted based on the valuation pre the bad news.

Why are they buying such small amounts. Where's the logic in that...

for the scab to be removed there will first need to be a warts and all admission of the revenue breakdown which may initially show the less than attractive situation for the 2.4m regs. This could be enough to dent the SP for a period could it not?

if they can wait for the SP to get to 5.75p (fingers crossed) so I can half my holding that would be great. Any scab removal will likely be another blow to the SP and whilst its the right thing to do it will take a while to recover and there are many other opportunities I could use the cash on at the moment...

SB my thoughts exactly. I guess either way these are cancelled so its a win win in some respects.