Member Info for Tesla1

Strong sell

If you have this company to a city analyst, which I have done with previous investment opportunities, they would say don’t touch this with a barge pole as it is a pure gamble with the house odds stacked massively in favour with the house.
Obviously too much cream for the city boys to let them stop milking this type of company at the cost of the PI.
No wonder the ASX insisted that the company be removed.
I agree that some sorry individuals have refused to accept the facts and continue to try and suck more people in to this insolvent company.

Strong sell

There is a lot of envy in those valleys and who can blame them.
They have been schooled big time by several regular posters who have called STA spot on and not only that they have also made/saved a pile of cash by selling up or not investing and doing sensible things with their hard earned cash.
I assume you don’t need to rent out rooms at your mortgage free property to pay bills etc..........

Fuzz

You are spot on in your summary of this company.
This only remains on aim to suck more cash out of shareholders, the real crime is how LSE let STA continue to get away with this............
They are trading insolvent that alone should require a suspension and reduce the people being able to be sucked into to this charade......

Strong sell

The position is much more precarious than I originally thought, seriously how can Magoo justify a $300k salary for a company that had no income last year.
The cherry on the cake is he pays his mate 13k to find a business opportunity......lol

Strong sell

2 pieces of advice.......
Put the Troll on filter
Don’t give the troll any oxygen

You won’t go far wrong if you follow that advice.......you know nothing the troll will post will ever be anything if value, that is the only thing you need to know........
Anyone who can post 50 times to themselves over a 12 month period, with NOT A SINGLE REPLY............tells you all you need to know and their reasons for posting......

NG

Good post on the other STA forum, highlighting the trolling that has been going on on another site and posters should be aware of.
I find it quite hard to believe how someone can post over 200 times without a response and they continue to carry on, what strange behaviour.
I could not believe it when strongsellmanos mentioned it on here but I took a look for myself, on one sta thread they have posted over 50 times over the last year and have had no replies, who behaves like that.
Apparently no one replies because most people have the poster filtered, it’s good that LSE have tight regulations and don’t allow that kind of behaviour.

CFQ

It’s ok though, Magoo gets paid $300k a year to manage this shower.......
Lubby Lu another $100k

CFQ

note how far you have to go in the report to dig out that little nugget.........
Aim should really do something about this........

NG
Surprised that they got those signed off to be honest, that has to be the reason for the delay and the over optimistic rns trying to pump the price for a placing.
So they have less cash than their current liabilities in court Tax cases, no wonder they struggled to release these results.
A suspension is looking imminent unless they can raise funds as no accountant will sign the next lot of figures off without them getting some cash into the coffers.
They really are milking this to the very death.........it is an absolute disgrace........

Davide1

Have you sent this from today’s rns, looks like the company lied in the email to you

IFRIC 23 Uncertain tax position and tax-related contingency

The group has estimated that following the disposal of Range Resources Trinidad Limited and the settlement of liabilities in multiple jurisdictions which formed part of the consideration for the disposal, may give rise to the possible payment of withholding tax. The group considers it possible that a withholding tax liability of US$742,713 may be payable in Australia and withholding tax liability of US$2,364,933 payable in Trinidad. As at 31 December 2020, both amounts have been provided for in full.

Kjk

No wonder they wanted to pump the so yesterday to help offload Magoo’s shares.......
I have to say it’s disgraceful a company with no revenue are burning $80k a month on what........$80k
Bearing in mind that we are nearly into May cash must be close to $2m if all the litigation claims are being pursued.......

Davide1

I think you are spot on and you should be able to trust what the company tells you, but when you read their RNS and it is filled with all the adjectives that CFQ highlighted and no signed, sealed or delivered statements then you have to wonder what they are doing.
I think that being suspicious of any ambiguous STA statements is the way forward as history shows........
If they are able to terminate the SPA surely that would mean that the written off debt would become payable and as in;payed earlier that would be like a turkey voting for Christmas, I cannot believe they would even risk that .......

Davide1

Fair enough, I have no issue with your position. However I believe this is a Chinese laundry operation so I see no point in contacting the company as they would never admit that. It is obvious to me that their rns are designed to inflate the sp so Gu can offload his salary shares via the back door.
I am referring to tomorrow’s RNS with the half year figures.
The list of failed potential investments, from this company, over the past 2-3 years is embarrassing, Enid Blyton would struggle to write better stories.........

Is that a serious suggestion, you would prefer to believe a secretary over company law.
It is obvious they have a tax liabilty, if they didn’t they would RNS it. They’ve chosen to issue 2 rns rather than 1 to pump the sp today in typical STA fashion.
The previous ceo, who is on corruption charges in OZ sailed as close to the wind as possible, everyone knows nothing has changed.......

CFQ

do you think STA can pick and choose which parts of the SPA they can ignore, if they have terminated the agreement which I doubt they can do, they just can’t decide we don’t want that liabilty.
Let’s face it RANGE were never honest about their income or expenditure in RNS so emails are fair game to them, however today’s RNS is all jam tomorrow, their history shows they will just try and fleece investors.
The tax liabilty goes with the owner at the time of the transaction, that’s company law, there is nothing in any subsequent RNS to say it has been written off and judging by the porkies STA write in their releases if they could announce it without breaking the law they would.....they are still liable that is the bottom line

If STA are successful in terminating this agreement then surely they have to pay all the cash back they have received and they still owe LO $100m which is due for re-payment......
Surely this is like a Turkey voting for Christmas........

Davide1

Sta are saying they have terminated the SPA agreement so they are liable
The Company Group has engaged new legal advisers (the "Advisers") to assist with this matter. The Advisers have now notified LandOcean that the Company Group has elected to terminate the SPA due to repudiatory breach by LandOcean, and is claiming various sums in excess of US$10.2 million.

It’s a different court so wont show on the same search.
Its the tax appeal court but I haven’t managed to find any links.
This company won’t want any bad news surfacing whilst they are trying to offload Gu’s salary shares

Steady have you seen the share price over the past 10 years?
How could anyone post anything other than negatively........
Genuine question.....

Because it’s a con and they have been doing this for over a decade under a former name.
The spread yesterday was almost 50% no one makes any money except those in the know who bought this week when they artificially dropped the offer and someone bought in knowing this was going to be released today.
The company is bankrupt and is a lifestyle company for a few Chinese individuals.
Nothing in today’s announcement is new and it’s all jam tomorrow, so it doesn’t justify an initial 50% rise but investors see the silly sums banded around and think they might make a quick buck.
The arbitration figure is a joke, the company they are in dispute with wiped out a 9 figure debt for a worthless Trinidad oil company that had been losing money for decades.........
It is all a con........