The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Just imagine the frisson of exitement at the poolside table of Niel Riches at his house in Marbella....tomorrow the figures for WGP will be released ! Who knows.....
Betbrokers, the internet gambling business placing bets for anonymous high rollers, warned today that trading has collapsed because it doesn't have enough money to service its biggest punters. Fall at the first: Betbrokers has run out of money The online betting broker was launched four years ago by Wayne Lochner who already has one dot-com casualty behind him, the one-time stellar cyberspace stock Affinity Internet which ended up in administration. Backed by City moneybroker Derek Tullett and the former Formula One owner Eddie Jordan, Betbrokers' celebrity sporting "ambassadors" include Lester Piggott, Vinnie Jones, Nasser Hussein and Barry McGuigan. But the firm is now admitting a funding crisis has meant it has been forced to turn away business. Betbrokers acts as an intermediary for big punters. They place a bet with Betbrokers which executes the trade with the best price from 200 bookmakers. Betbrokers also acts as "clearing house" to settle the bets. However, the company today reported that traded volumes in May halved to £2.2m, as the size of the average punt tumbled from £1370 last year to just £424. Lochner was forced to admit a lack of funds in its clearing house system meant it could not take the bigger punts. Betbrokers shares crashed 23% to 0.5p. Read more: http://www.thisismoney.co.uk/money/markets/article-1632427/Betbrokers-runs-out-of-funds.html#ixzz1yKDKayZt
Well....lets see what they come up with on 30th June.... If they can get revenues to exceed directors fees then who knows. But from my own experience ....there is precious little to be made from bet broking My guess is that they are getting ready to do another administration followed by a reappearance with a quote on "OverTheCounterBulletinBoard".
I should clarify ....my bad typing... Falcon were in the listing prospectus of WGP on its recent float on London. They had also been promoting Worldlink in its various stages up to and including its listing in Frankfurt. Falcon had earlier promoted GWIN on OTCBB as a tipping operation that then got involved with Betbroker PLC in London which went bust.
I have a funny feeling of deja vu here..... Falcon Capital, who are mentioned in the listing prospectus 12 years ago were promoting a bet tipping business listed in USA on OTCBB. (GWIN) That business never nade a profit and indeed achieved vast losses but later became involved with Betbrokers Plc listed on London which then proceeded to go bust. Could it be that at the end of the escapade on London for WGP it will next list on OTCBB. There is no money in bet broking nor bet tipping....
There have to be serious questions as to why so soon after a floatation WGP would change their auditors. Crowe Clarke Whitehall, who as auditors participated in the presentation of the Company at floatation , are a major firm. Whereas their replacement is very much a minor firm. Something very wrong here
I think that means that I owe you a skinny latte and a cookie Riches is a total master of the tactic of delay. This has been running for at least 12 years without ever any real business flows....and before that of course there was Emisis which did the same and the eventually became......well here it is
I dunno why they dont just get them out there..... If they are so bad....another day or so makes no real difference
Nothing showing yet !!
Surely there should be some supervisory body to make a ruling on such a matter.
Yep...the bet is there Blimey....you drive a hard bargain !
On 23rd March Neil Riches etc awarded themselves millions of shares as a debt conversion issue. Given that they would have knowledge of unpublishes balance sheet figures, ....are they not " insiders".....? Also,.....they still have not published 31 Dec 2011 Accounts yet....
Well....they are certainly taking their time in producing the accounts ! It is extraordinary that such a tiny little business can need so long to ad up a few numbers.
are you ready to take a bet on date for the publication of the accounts....maybe a large skinny latte says they will not be out by the end of the month
A Corporate Finanace friend of mine had been mandated to raise £1m for these people. He reminded me of this on Monday because at the time I was going to participate. However, the deal was stopped by Mr Riches when it transpired that the transaction would require certain restrictive covenants ! That was not what he wanted to hear ....so it didnt proceed.....now I am glad that it didnt ....
With regard to the action against City Index and others re infringements... It may well be that City index will contend that, since so much time has elapsed since the patent grant and this action, theycould be deemed to have "Ostensible Authority". If that were to be accepted then WGP might be Estopped from process of their action. Its just a consideration...
The regulator...whoever that happens tp be....should be investigating this...Its extraordinary !
is no more than the current market cap. If City Index were bothered about the litigation, they could merely buy WGP ....then they own the patent...job done.
Of pump and dump.... Its amazing...and this is a FTSE quoted operation...
I have no agenda either ...except I dont like seeing people fooled and loosing money. Just look at the headings above..... WGP Fundamentals....there are none WGP Financial Diary..Nothing WGP DirectorsDeals...No information This must be the only FTSE Standard List Company with such a pacity of information. Yet they trumpet a deal with a tiny football club as if its a major issue. Extraordinary !!