Member Info for southerndude

I thought it was you who was the one who got upset when people were rude about your posts.... I never worked for Betbrokers.....but I did hold some shares in that business which , as you know, failed. It is my opinion that there is very little spin-off available from intermediating bets and the business does require significant funding. So...good luck....you will need it.

I had some experience of broking sporting bets with a company that was taken over by Betbrokers Plc. (i posted on this before) The net conclusions that I drew were 1) you need a lot of cash and 2) there is very little money in it. I suggest that great cution should be excercised at this time....very tricky...

While on the face of it there is a very welcome cash injection.....I would be very careful. These guys have something of a reputation ! Fingers crossed!

December 2010 Balance Sheet and Accounts were signed in August 2011. So they are in the habit of rather late accounts. Looking at their last set of figures it would not be surprising if the matter of solvency were to be the big issue. So, a positive result on the City Index litigation is really important.....because who would finance the show in any other circumstances?

You have to wonder whether they have been giving an optimistic spin to their RNS all along !

My question came from the very excellent Jon510 posting at 0852 hrs on Wednesday

So.....I imagine that must be "no win ,no fee" What is "after the event insurance" please ?

One has to wonder where WGP will find the money to prosecute their case. My experience of Michael Spencer is that he and City Index will have had very good advice at al stages of the process. Could nevertheless be an interesting day !

It seems that Wednesday is a very important day for WGP. Having re-read the financials to December 2010 and June 2011, the solvency is becoming a dire issue. To my mind it would appear that, without a good result on Wednesday , then funding is going to become really difficult. These two problems raise knock on issues with reference the completion of Accounts for December 2011

Vision is priceless

May I just say...what an excellent posting. It is clear ...concise ....and so very relavent.

I would just like to say....what a very excellent person Jon510 really is. Hip hip hoorah !

Has anybody informed the regulatory bodies ?

Its a well worn route for these kind of dud deals. After all they aint got nowhere else to go ! What they do on OTCBB is to ramp the issue price....then once the issue is out in the market they restrict the sales under what I think is called rule 144. So by the time investors get to decide to sell out...the sponsors have already baled out...... job done

Yes I certainly do think its very suspect. To my thinking there must be something very wrong indeed. Look at their background. Only recently they floated non this market where they indicated an ititial value per share at £2.50 The last accounts that they filed gave a revenue in the year to December 2010 as a mere £3,000. If it were not so serious it would be a good laugh ! But real people invested real money in this ..... Look at their history....set up in 1998...followed by Corporate Voluntary Arrangement...followed by Administration....followed by a failed listing in Frankfurt...followed by suspension in London And all the time the same old directors are getting paid excellent salaries and huge extras Yes I do think it is suspect It looks highly suspect to me

is they will list on New York OTCBB time for investigation here.....this is serious!

.....and the difficulty is that they wanted to demonstrate revenues of more that she gets.... ....this company should be investigated by the SFO

What was your comment about ?

Well i disagree....the results are very probably dreadful. Had they been any good its unlikely that the Company would not have changed auditors and closure date. Lets wait and see.....but i regret to say that i do think its a strong sell

As per rns 30 April.