Member Info for Ssccss

Yes Joe is still a director. We need him to dp. The interviews.

I feel for you Tiger. Horrible to have to face the prospect of losing money.

Exactly my thoughts wakey.

"How on earth did he think he could get the Dutch auction done. Over new year, quickly whilst he’s not listed and finding new problems daily.

Lies or naive. He’s 70+ so shouldn’t be the latter.

I’m getting tired with him and he’s focusing on himself isn’t he."

Agree Dealer.

They could have stated that ctsfo. I agree it's a probable explanation.

Spod, I used believe what was in RNS's.

With ppp, I just treat everything said as a narrative and try to understand what the author is trying to achieve with their statements. So no I don't believe anything in the ppp RNSs but I would like to understand what it is that the author wants us to believe. Cos even that is not clear to me here.

And what is this supposed to mean? Why so brief

● The Board has commenced recovery action in relation to unauthorised and preference payments that have been identified.

It's all very bizarre.

Especially, this...

The Board has been made aware of a filing at Companies House on 7 January 2025 of a Progress Report by liquidators to Resources Bonds 11 Limited , a bond issued by the Company in 2016 which went into liquidation in January 2023. Inter-alia, this Report makes direct references to 'breaches by the directors of their statutory and fiduciary duties, leading to various claims against the directors. Solicitors have been instructed and initial letters before action have been issued". Whilst the Board is obviously unable to make any comment on the accuracy or background to these statements, the directors referred herein are both past and present Directors of the Company.

● In the week beginning January 13 2025, the Board was made aware that the amount of debt claims against the Company was significantly higher than had previously been disclosed. In particular, the amount believed to be owed to US counter-parties has risen to over US600,000 against the previously disclosed U$300,000. It is uncertain whether or not this is the final extent of monies owed and investigations in regards to this are ongoing.

It doesn't add up. No one would invest with such uncertainty... Remember, we don't know how much debt... Believe it's over 600k but not sure... Haven't got a scooby.

You're right Kong. I just cannot fathom how this can be such an almighty mess and how it's being drawn out... And on main market. Beyond belief really.

If he is a solicitor, we are screwed lol

MyIPA, he's a financial consultant and has been for decades. Of course he knows the basics.

Spod, why wouldn't SL update us with that information, if that is truly the case? I'm sceptical that SL knows there will be no AGM, but he wants to keep shareholders on side for now.

So this gets more murky...

https://www.gov.uk/government/publications/life-of-a-company-annual-requirements/life-of-a-company-part-1-accounts

Audited accounts must be signed off before agm.

So SL is either witholding information about the account sign off or he has scheduled an AGM arbitrarily. Either is a random thing to do.

So where did it go Kong, or are you saying you think the placings weren't legit??

To be honest though, affrm has a point, where is the previous placing money? I was going by SL's perspective, he is painting ppp as broke. But... Where did the previous placing money go to... We don't know

I agree Kong so why has SL set a date for the AGM?

If SL has an idea of when accounts will be done, he would have put that in the RNS? Unless he doesn't believe in sharing good news lol.

Can someone clarify because I'm almost certain the accounts need to be audited before AGM.

● On 13 January 2025, the Board was informed that PPP's Company Secretary had received a requisition notice from a shareholder group proposing certain changes to the Board. The Company is seeking legal advice as to the validity of the requisition notice and a further announcement will be made in due course.