Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
I having been trying to make sense of what has been going on. Why would Amit choose to tell the world that there is a payout coming if it wasn't true. Why would he string us all along with so many deadline coming and going without the action that he promised? Why would anyone (other than Amit) risk some pretty heavy duty legal action for posting misleading updates on the website?
Supposing that there is a deal and it is under NDA. I Know through experience that these projects cam take way longer than planned often due to unforeseen technical issues and such issues with any part of the product will inevitably lead to delays with the whole project. Imagine that there was a deal with Bloggs and Co under NDA and that it would be inevitable that at some point when the NDA is lifted it would hit the market and that it would be clear that Cloudtag had generated significant income. We would as share holders all expect to receive our share of that income wouldn't we. However if the cloudtag product had been validated by Bloggs and Co and had passed product acceptance tests etc. I think Amit would have a legitimate case for saying "I have done may part, its not my fault that the project has not made it to the market yet so please release the money from ESCROW". So Bloggs and Co admit that they have to release to money to cloudtag and it sits in a bank account accruing interest (£500K or more a year) for Amit until such time as it becomes necessary for him to pass it onto us shareholders most likely either because the NDA is about to be lifted or because failing to do so is damaging him reputation massively.
As I say, just a thought and most likely way wide of the mark but its a talking point.
BTW 1984, don't bother commenting, I am not interested in your opinion on anything.
The moment the reference to CIBC bank was removed it became clear to me that there was no money and that this payout was not going to happen. Whatever happened to the concept of under promise and over deliver? I can see so many reasons for having no confidence in Amit making payments and at the same time I can see no reason at all to believe that a payment will be forthcoming. The evidence and fact based scales are very heavily weighted in one direction I am afraid. I have no idea what games are being played or what the motivation is but I am now utterly convinced that this is a dead duck.
I can see no point in engaging with this chat board for the foreseeable future because no one on this board knows any more that I do. Lots of opinions and speculation but the only fact that we have is that a lot of statements and promises regarding timescales have been made by Amit and none of them gave been met. When all is said and done that is it as far as hard facts are concerned.
I will now put any thought that I may have had regarding the retrieval of funds from CTAG back in the draw there they were until this whole licensing/sale fiasco kicked off. I had forgotten that i owned any CTAG shares and I intend to forget about them again.
When the steaks are high it is no time to be telling porkies.
If this is not all just a big windup why can the dosh not be transferred to nominee accounts now? At least then the paper holders would be confident that they have something in the pipe line because they could see that the bulk has been paid out.
12:14 I have no reason to believe that Shlomo has any direct involvement in this debacle but it is for him an unfortunate fact of life that when one member of your close family does something reprehensible it tends to colour others view of other members of the same family. Its not how it should be but it seems to be human nature although in his favour he has a track record of success and I am sure that within the business community he is well regarded.
Certainly not reflecting well on Shlomo. Family name being dragged through the mud, obvious association with Amit which sadly for him can not be avoided since it is his brother after all. Shlomo = collateral damage.
"The average citizen in the UK throws away roughly 7 times their body weight of rubbish every year, and the average British family goes through six trees worth of paper"
I felt like i couldn't let a whole day pass without at least one piece of rubbish information appearing here.
Correct 1984 and so out of ESCROW. Which should have happened when all conditions were met by both parties
Correct and so out of ESCROW. Which should have happened when all conditions were met by both parties
Read the update again
I don't need to google it . I authoured my companies ESCROW procedure. Why don't you google what idiot means.
If money is with CIBC it wont be in ESCROW anymore will it!
Are you expecting more updates? Do you think that we will get our payout?
I was wondering weather not not anyone would spot the deliberate mistake :-)
I know!! Before the pedants arrive "here", not "hear".
Less chat on hear in recent days and it seems like people are slowly starting to accept that this will never happen. Yes I know that there are some "told you so types" who are probably enjoying a good gloat. There also some hopelessly optimistic types who will still be clinging on to the dream. I really cant see how anything good is coming from this for share holders or whoever has been posting these lies. There is certainly evidence of criminality it is spread all over the website in black and white for heaven sake so the perpetrator has zero chance of getting away with this if the authorities get involved. As for who has been making these statements in the form of misleading updates, well who knows, but I am certain that they will be found out weather it be Amit or a third party.
I for one am not expecting anymore updates!
Well it certainly isn't online at the moment and looks down. Maybe I was wrong and the duck will quack again later today so I will hold off making my orange sauce.
I am not expecting another update today or come to that ever. I hope that I am wrong but I think the duck is dead and in the light of recent info that has emerged I think the game is over. Don't ask me what info because am not prepared to say on this site but all the info is contained on these pages for peeps to draw their own conclusions.
As I said I really hope that I am wrong but any optimism that I once had has now dissolved.
I don't think that we will see another update! I think that the duck is now dead.
And I don't think we will be seeing anymore updates either.