RE: ZM Appeal against T.I. - update06 Oct 2021 20:12
Thanks Looed for your efforts. Pleased we’ve had news of the court case but not pleased it’s still rumbling on nearly 3 years later. I read MP’s thoughts re the recent election but was never convinced. I figured it was better the devil you know regarding those in power in the Georgian government. Well I got my wish as the GD still seem to have won. Let’s hope the minister now delivers. GLA
Still in the game Cransley. The Georgian Government minister has intimidated that an agreement is close. Turns out that Zaza was the baddie after all! Two versions of FRR have emerged: one formerly controlled by Zaza, the other by Steve. Steve seems to be on our side and seems to be winning. How big the eventual prize is going to be is open to debate.
RE: New Case - FIC / FRGC v SN & ZM24 Aug 2021 17:53
You go after the directors because you don’t think you are able to get anything back from the company. Now assuming FRR does in the near future have some value, either SN and co believe they can’t be touched and they will therefore attempt to ignore this court case, or if they think they may one day have to pay off the liquidators, then they will try to do a deal from FRR’s funds, thereby avoiding the possibility of having to stump up all the fees himself.
RE: New Case - FIC / FRGC v SN & ZM24 Aug 2021 02:42
Thanks Looed There’s always a caveat or two when lawyers are involved! An interesting number however, which when divided by 16 billion shares (ish) and adjusted into pounds is about 2p per share, before the deductions begin, of course...
RE: Thanks Looed - sounds like assets also transferred?21 Aug 2021 18:10
Arsenal I don’t think we’ve had the official confirmation of the asset transfer yet from the GG. We have had a very big hint however from the Minister for the Economy Natela Turnava that an agreement is near. Fingers crossed that we don’t have to wait too long.
That’s what I don’t get. We recently had Natalia Turnova (spelt incorrectly I’m sure) saying the government was about to announce an agreement between our FRR and the government. And here we have people close to the PM seemingly looting the company and causing damage to the environment. What’s going on? Surely the PM and Natalia Turnova speak with each other?
Good evening Pyro. I hope you are ok. I’ll post a copy of MontiBurns’ post which summarised where we were this morning. But first, you’ll probably also need a list of all the players: FRR - also FRUS - SN’s team (and ours) Frontera Eastern - ZM’s duplicate copy of Frontera. (ZM was recently judged by a court in Texas of trying to steal the company) Green Capital - one of ZM’s companies which claim to have invested money into Frontera Eastern Natalia Turnava - government minister who has just issued a statement saying she expects to shortly come to an agreement with our Frontera to allow operations to restart. She simultaneously has seized all assets from ZM’s fake Frontera. Needless to say ZM and Green Capital are not best pleased , hence all the pages of their complaints this evening!
From MontiBurns “Wow , ZM trying to publicly portray his company as the real Frontera Resources in Georgia with a new shareholder that is Green Capital. He is also trying to subliminally project that ‘we are a US company’. The gall of the man; shameless I would say. Anyway, while we the shareholders are lagging by about three months on news/developments, the latest public revelations tell us that alot has happened after the Texas TRO was granted, namely FRR securing its assets/wells in Georgia with the support of Uncle Sam and GG. Also good to see that criminal proceeds may be initiated against ZM. Plus, ZM desperation is starting to peak, and this is perhaps best illustrated by his public attack on Natalia Turnava on FB.
Away from that, wonder how Stephen Hope and YA are feeling watching all this unfold in front of them; probably saying....‘what a Palaver’, no doubt. Anyone check how the Outrider fund was Performing recently?
Zaza a ‘top draw’ liar and this is now becoming more and more apparent. Certainly took us investors for a long ride too. For once, Directors will be held for their deceit and get convicted but atlas a slim chance in the slimy world of AIM.”
So here’s the question.... Let’s imagine that FRR are allowed to resume their activities in Georgia, with say the US $100 million investment from outside sources. We’d have to presume that this investor has seen what we’ve got in the ground and knows they should get their money back and more. Let’s also assume that the licence is extended by at least 5 years in the short term, plus the time for the Covid break, with the potential for say a 20 year extension if things go well. All arbitration issues will have gone, and presumably Outrider and YA are both sorted, either by paying them off or simply from the knowledge that we have legally dealt with them via the courts. We will need to pay the employees what they are owed, and assume that ZM is moved out of the way completely and permanently. Under all these scenarios (however unlikely), what might FRR now be worth? Clearly more than the 0.3 pence per share that we were deemed to be worth when many of the above issues were known to us all. But how much more? In the short term of course we shareholders would still be unlikely to realise that value, but should we relist or should we be subject to a buyout/takeover then maybe, just maybe....