Member Info for Seedcorn

Hi Wraith, I wasn't aware of this southern North Sea block licence. Thank you for mentioning it. I notice it has a two year condition attached and I guess that must be almost up now. Any idea what, if any, plans are in place? Regards, Seedcorn.

I think Zak's CEO interview with Zaf Karim on 4th December 2016 sums up what i was trying to say. Please have a listen. Regards, Seedcorn

Out for a walk at the moment but the way I understand it, Leg are not passive investors and from memory, in the Zak's cafe presentation, this is explained. If not directly on the board the CEO gets involved in a consultancy manner. At least that's what I understood. There may be more I can support this with but I need to get on with this walk right now. Regards, Seedcorn

Soupdragon78, thank you for replying. I, like many others no doubt, was initially attracted to Leg as a result of the VS 'unicorn' vision presented on Zak's Cafe. I did as much research as I could around Legendary and was also interested that they had other (small) holdings in the portfolio. VS obviously has the greatest potential to expand and so it is the flagship of the holdings. The other holdings, as I understand it if they are not progressing/ likely to progress, would be discarded. We are hearing nothing about them of any note and I feel we might be better informed of these. Let me go back to VS though. The potential for VS is considerable. What is not clear to me is to progress that is being made and, whilst that may not be given out in great detail, surely the pr approach used in the Zak's cafe would be beneficial in keeping shareholders on side. As it is the management team is out of reach to shareholders. That last pr exercise was I feel, aimed at the subsequent fund raising of £1 million achieved by a share price over 0.3p. (I wonder what a fair valuation of the share actually is?). If we look at the price today then the price has dropped considerably. My share price average is 0.22p, so even that has almost halved looking at the price today. The reason I would sell my holding at this time is because it is unfortunately outside an ISA. I would thus be able to offset my loss against gains I currently have on shares disposed of outside the ISA package too. They exceed the tax free capital gains allowance. My intention was to use the funds for short term trading and then re-purchase Leg in an ISA wrapper. Your point of waiting until the VS results in December/January is well taken. As you say they have yet to prove that they can deliver. I note that as he is a shareholder and management team member of VS, our CEO is part of that delivery and yet he also has a role to play for the other Legendary investments to. Best wishes, Seedcorn

I had high hopes for this share when I bought my first holding in March 2016 and I have made several purchases since. For me the lack of communication or support for the shareholders from the management for many months now is a concern. I still feel that long term there may be a positive outcome but with any investment there needs to be some visibility or reasonable expectations to justify the reasons for making the original purchase if progress is becoming adverse when reviewed. Up until recently I felt this was justified. However (and there has to be a however!), there comes a point where I feel I could put my reduced value holding (down 46%) to better use and so today I tried to sell but without success. I reduced the amount I was trying to sell until I got down to just under 200k and only then was I able to get a quote. The low daily volumes tell their own story and it is obvious to me that the lack of interest in Leg is leaving the mms with little incentive to pick up shares except in very small numbers. In the end I have not sold a single share as the low amounts I could dispose of did not make it worthwhile. It seems that hanging on to my holding is the only realistic option for now. If I was part of the management team I would feel I was not earning my crust if the shareholders were dissatisfied with the current state of affairs. Communicating my feelings to the management has so far hit a brick wall as phone calls and emails meet with no response. Perhaps I shall have to make a 500 mile round trip to attend the AGM (from the north east to London) whenever that is and make my feelings known there. Unless someone else has a constructive alternative idea? Best wishes and much optimism, Seedcorn.

Is this the equivalent of buying a ready made limited company 'off the shelf' as it were in this country?

Soupdragon thank you for your comment. You are quite right, I was too hasty with my comment. Reading the rns again has given me a different perspective. I do hope we get a lot more detail and in the meantime I shall be researching more of IBS. I wonder if a name change would be beneficial in terms of image for IBS. Regards, Seedcorn

Where is the quality in this RNS? It is all very well gaining 12% of something ..... but at what price? This RNS is lacking detail of the target company, directors, capitalisation etc. AlsoI am rather concerned that it is in New Zealand, a beautiful country with a rather small population. I wonder if it is intended to have an international reach or purely local? Surely there are opportunities closer to home?

Interview with Andrew Mills added to the VS company web page.

Yes, well done for finding this gem of information. Much appreciated.

No constructive news for months and then this. I suppose it is something to mull over? I have emailed and telephoned LEG trying to make contact with someone who might be remotely interested in speaking to shareholders (of which I am one!). No response to the emails and the telephone was answered by someone who asked me to resend my emails!!!!!!!!!!!!! Correct me if I am wrong but I believe the idea is that the shareholders own the company and the directors work for the company ... and thus the shareholders. How do we get some sort of dialogue going between the board and the shareholders? What of the other investments LEG is supposedly 'growing'? We need much more news flow than we are getting. Have a good evening all.

Superlucky79 I couldn't agree more! It is rather odd that there is more information available via journal articles than via the LEG sources. Even if there was a no news policy concerning VS, LEG does have other investments small though they may be. What is happening with them?

Thank you for the heads up, after your signposting I read the article too luckyjohn. This is a very big project and takes a bit of time but there is no reason to think that it will not be in place before too long. Just a waiting game. It would be nice to find some news about some of the other Leg projects, small though they may be.

Nice find Soupdragon78. At least we have some clear information. Helpful.

This is certainly a massive project. If it takes a little longer to get it delivering the right solutions then so be it. The shear scale is very encouraging for the future of Virtualstock once it is up and running.

Hi TotalWealth. I sent an email about 4 weeks ago asking for information but again no reply. The optimist in me believes they are just busy putting in the foundations for a bright future for us all. I have real belief this will have a positive outcome. We just need to wait. Regards Seedcorn.

Implied, thank you for posting the link. The content is helpful in that we have confirmation there are many things going on in the background. We may have to trust that LEG knows how to move things forward and exercise patience. The interview endorses that. Any positive, news containing posting is a breath of fresh air. Seedcorn

I just came across this whilst trying to discover more about Virtualstocks activities etc. I get the impression this has been in place for some time now but I first came across a reference to this inter company collaboration in an article of the Jan/ Feb 2017 direct commerce magazine. The article gives the impression that this venture is only just in place now, yet this you tube link suggests an earlier date. To me it all seems to be significant and relevant to the expansion of the virtualstock Edge brand and related uses. I wondered if other posters on here know anything further please? Seedcorn. https://m.youtube.com/watch?v=1n9n3sTFrRw

where LEG has a holding is showing a 7% rise today. Not sure why. Any thoughts?