Member Info for Toffee2468

Hi Jimtom, I'm not greatly experienced mys of either, but have been in Sable Mining for some years now (since much happier times in the Nimba project....) I fear that the rns from Contango has been slightly misinterpreted in the threads below to be honest...

So today is the day then.... Is anyone here going to attend? (Guernsey??)

Good update from Ben Turney, thanks for posting.

Thanks Spud, good form.

Harp, as for attending, it was educational. Went on too long for me to be able to stay til the end after the poll was concluded, so maybe Spud can shed light, but expect we will see some news from action group / new bod before long. Ben sounds like a man in a hurry. If so, great. I still do maintain that a lot of what gets said on these boards is just bang out of order nonsense, and at the end of the day, not good for the health of our investment (those who genuinely have invested) Someone there today (maybe it was bullinachinashop, or someone else on here?) made the valid point that there's always the danger of competitors posting shouty rants here to malign the co for their own agendas, so I'll take that wisdom on board. As you say, it remains to be seen whether the new bod (those listed on the resolutions being voted in) seek to pursue the £1m investor, but it sounds like they will consider all best options. Don't wish to speculate, so will sit tight for news. In the spirit of correcting a few points for the record too.... 1. They confirmed that the £57k and £85k related party transactions to Nilesh and Jason Drummond were one and the same as their salary/bonus stated elsewhere in the accounts, so NOT doubled up as some here (bns....) wrongly concluded. 2. ALwayswinning, jimbob... I freely admit I don't know the reason why the allotment of shares appeared on companies house just the other day (whether that's the norm in advance of a vote like this one, or just late housekeeping), but it certainly wasn't announcing 3million shares just suddenly appearing belated from Sept 15, so think you can rest easy there. Those shares were just harking back to the history of the exercise of warrants that are logged here in the rns history in Sep 15. All duly announced on record at the time, and those were included in the 64m total shares announced back then. And likewise were part of the £322k share capital that is recognised and detailed in the Oct 15 accounts. Stupot, sounds like you were instrumental too, so congrats on your new post. Re: the new bod's approach, will the three pager that Ben mentioned today get posted or shared somewhere, as that'd be informative to see the original thinking. Toffee.

Ha! Mighty fine of you then spud! Cheers, Toffee.

Bullinachinashop , indeed it was. Ben Turney, if you are reading this, I say case well put today. My apols for conflating you with BeerNSex (no one deserves that disservice) - I take you at your word from today that you are certainly not him. Harpmandoodle, it was heartening to hear from the group today that there is recognition from Ben and plenty others round the table that the app is a good concept ( I know from your line of questioning in the prior meeting that that was what piqued your interest in the share) and I got the sense from Ben that the new bod will be looking closely at it. So my main concern that it was going to get thrown out with the bath water is subsiding for now. Re the actual poll numbers, I was beginning to pack up as it was read out but I thought Nilesh said it was a total of 16.6m cast, and out of those only 7.7m were against the proposals (rather than 17m for versus 7m against, so relatively close run, but decisive. I am sure someone will correct me if I miswrote that.) Let's hope there is a positive route forward with this, and less of the negative rants bulletin board insults. V Interested to hear from new bod re: what happens with the TFSL subsidiary, and Oli's role going forward. And to the gent that recognised from us both being in the room at same time today that I am in fact NOT Oliver Fattal but my own whole actual person, I'm glad to knock that on the head. Toffee.

Stuart, That assumes that sentiment on this board is representative of the rest of the 94% of shares not in the bod's hands.... Remains to be seen if that assumption is correct, but guess we will see soon enough. We don't yet know how much is left in accounts since Oct 15, what income they've raised from the app since, and whether they've hit any milestones in the period since that time with the rollout of first placings etc which might have triggered other payments out, and what the latest value of investments is. All of which may reduce the assets available to return to shareholders on liquidation in your alternative scenario. That's why I'm decided that I'd rather hold the existing bod in place for them to account for delivering what they believe the app is capable of. I'd rather dilution and have chance of emerging on the other side with closer to my investment back, rather than Throwing towel in and taking perhaps 5-10% back from liquidation. Absolutely no offence intended, but I just see them as integral to doing that with the app. Best, toffee.

Shredz, What happens to our shares depends entirely on how holders have voted or will vote today. If with the existing bod, we must hold them to account to ensure they provide the matched trading facility/second market that they've referred to in the circular (those who want to get out can have a chance of doing so, and those that want to accumulate can equally do so, where common ground exists), and see if they can secure a vote on the £1m investment, and getting re-listed in the mid term (maybe 3 to 12 months, who knows). If not, demand capital return if that fails. If the vote goes with the new bod, I predict a long and fruitless wait to get any cash out, with no opty to get out sooner with the likes of matched trades, and no personal confidence that they will realise any value from the app without having fatal and Drummond (or his tech co) involved. To me, voting out the existing bod is like cutting off our noses in spite. New bod will have to take time to understand options, and as Tom Winnifrith article mentions, they are all people with existing jobs, so will want paying for their time, will incur costs for consultancy and professional advice, not to mention reasonable expenses to fly in Ben Turney from Sweden. I may be doing them a massive disservice, but have seen zero case for these alternatives being best placed to get us our return. Turney's own linkedin profile reads like a litany of excuses for failed ventures in the past (falling at last hurdle, the credit crisis, underestimating the challenges in trying to grow the business, the political environment in Britain, being a victim of Lehman Brother's failure, and having little money and no experience. Great self promotion. No entries since 2010, so not much evidence of pulling up trees since...) Stuart Langelaan .... Seems a successful music producer and trance dj. Attended the meeting to listen last week, so that's a tick in the box at least. David Kipling? No idea, unless of course he is THE Mr Kipling, in which case maybe we can have our cake (with Tea) and eat it. Anyway, depends how many bothered to vote/bother to attend. Action group held 9%, and Bod hold a little under 6%. Presume they have friends and associates close to them, but we shall see. I voted against (with Bod) last week. May it all work out for the best in the end.

oh ffs. Sure, see you at the egm.

Thank you Spud. Toffee.

TheMick, Quite possibly - though if you likewise are expecting me to be Oli, you'll be much disappointed;) Not going to get there til 10.45 though. There a tiny pret next door to Peterhouse, or a Starbucks across road off broadgate circle. You on twitter? (as I don't have messaging here.)

Milliano, Mike, spud, fair lady, always winning, you guys are just different, different class.... Spud, I see you are on Twitter. For what it's worth, glad to send you evidence that I'm a bona fide shareholder, and not Oliver or associated with the bod, and perhaps you'll have the good grace to acknowledge and drop the nonsense. I'll be at the vote on Tuesday (though have already voted as you'll see), and will be just as interested as you to hold the next lot to account if they get voted in. I've read this board from the sidelines for the last 18 months, and after jumping in last week to provide some feedback to a question that I think was Mill that posted, the level of debate that I've had in reply isn't exactly convincing me that I've been missing much as a reader only for that period. Sad really. I remain deeply concerned that the tone of this board has been hijacked by unopposed bile with questionable motives from SoniaP and then BeerNSex, to call out just a few. Observations: 1. Shock horror, an investment company takes funds raised and makes investments (in the app, and in selected share picks that are supposed to come good in mid term). Pretty sure they told us that was their plan in the investment policy. We can certainly argue the toss of whether the app (which they describe as groundbreaking, world first etc... and let's be honest, was the reason why many of us got excited about Tea in the first place) and the groundwork that they've set in place with Shard is good value for £200k, and we can question whether all the investments were as well picked as we'd like in hindsight, but bottom line is the app works (or did til the pilot was seemingly put on hold), and the aim regs mean they're not likely going to cut it as an investment co on the scale they were operating, so why are people so keen to pull the plug on the app? 2.questioning the bonuses in April 15? Sure, let's ask on Tuesday what the criteria were, but imagine it would have been either share-price related, funding-related, or milestone-related. Who was complaining in April when the SP went up to 4, 5, 6, 7p+ and the app popped up? I'd sure have liked to see the app move quicker since then, but if this concept was so easy to nail compliantly in listed markets, how come no other outfits are doing so yet? 3.Mike, Trolling someone for maybe being on a jolly on Instagram? Wtf grandad?! No, fair play to you. If someone is larging it in Monaco, that's just off. I live and learn; my next share buys will be based solely on whether I can stalk the directors of target companies to find evidence of holiday snaps exclusively from Skegness, pontins, or something like that.

You must have more disposable income than I do then. Fraid I can't be that flippant. Once again though, deceitful crooks? Not seen any facts or even well formed arguments on that front. Great for the brand that we've invested in to join in on slandering.

Jr2910... I read the entry of page 38 as just showing the transaction for how Drummond and Jagatia took their salary/bonus. Re the Payments of 209k to Tactu for software dev and other costs, we have intangible assets on the balance sheet in return (presume the app in the main) that are valued at £208,900. BeerNSex chooses instead to add everything up twice, to suit his narrative. (Don't fancy you in charge of my cash thanks, BnS) Winnifrith makes a valid point- the liquidation of assets isn't going to raise a treasure chest, and isn't going to get the app's value materialised (in my view). So why would we vote to take it down that route? Ben Turney (beerNSex?), Stuart Langelaan (Stupot), David Kipling (????!), what's the big plan then?? At least the current board say they have a plan that can be put to vote at the AGM.

Sorry, shouldn't post during halftime... Typo's abound. And who says Shard are no longer interested? They were still doing placings in the earlier months of suspension. HNR was Feb I think. Who knows how easy it will be to switch that relationship back on if the app is returned to service.

And who says shard are no over interested?mtgey were still doing placngs in the earlier months of suspension, her was Feb I think. Who knows how easy to switch that relationship back on.

Well, just looked and sure enough accounts are in to digest. http://www.teathers.com/wp-content/uploads/2014/10/Teathers-Financial-plc-Financial-Statements-signed-Oct-2015.pdf

Always winning Erm....great shouty rallying call to shareholder. Oh wait, no... What (and who) exactly are we rallying aroundas the great new hope? I may end up looking back on this months from now and praising the action group for calling the EGM, but at this precise minute I fail to see why I should have any greater faith in two unknowns and one 'aim activist' Ben Turney. Googled his name and Stockomendation came up. Try it yourself. Maybe that's the scent you're picking up on. I'm sure there are plenty on here (and outside this forum) that have way higher averages than I, but speaking for myself, if the prospect is just a fire sale of the current investments (some of which are under water already), and hoping that the new bod happen to have the first clue how to realise value out the app, then you'll have to excuse my apprehension. I took my risks on this stock, and may live to regret it, but that's the calculated gamble we take. I just for the life of me can't see the new bod rocking up to shard and whoever the white label contract is with a hope of re-establishing the app. Anyway, not long to wait now before we get the 'facts' as you say. We can all have contrarian views, and allow each other to speak. I'd appreciate If you didn't try to label mine as propaganda, thanks.

Fairlady I repeat, I'm a tea holder. No blame at all from me, and yes I'd like my piece back too. We can agree to disagree of course, but if the app has been proven and got an investor interested with £1m pocket change, then that suggests to me that the guys that have got it this far deserve to have it voted upon (which seems to be at the next EGM after this upcoming one, if it ever gets that far....) Dougal, I haven't followed OCT that closely, but isn't that Justin Drummond at Ascend, rather than the Jason Drummond? What's the angle? I asked the question of Beernsex's background also as he seems to have been the one that promoted the rumour that Oliver fattal sold out pre-suspension, going from 14% down to 3%. That's pure bulls*** from what I can see. He still holds same number of 2m+ shares, just BeerNSex willfully overlooking the fact that 14% was the percentage related to old Sperati days, pre share capital enlargement, so it was dilution way back, and not a case of offloading as has been openly insinuated. All there in the published accounts.