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[loverat] 30/5/2012 12:29

Thanks SilkStag

It will be interesting to see if the scenario suggested above plays out.

As for libel cases I have some experience myself and through one or two friends who have been pulled up for posts. Any problems on that front will be happy to assist with the pre-action protocol (this usually involves telling a bunch of inept lawyers to go ahead and sue and make themselves look like fools as in the below case)

Agree with your comments about honest comment and seems this judge would too.





107.

I referred to common themes in the postings, such as that of "bullying" other users and making "threatening demands" for money. That is classic fair comment territory and, in the light of the modern authorities, it is inconceivable that a jury would find any of those who expressed such a view "malicious" – let alone all of them. Opinions may be expressed in exaggerated and strident terms; the only requirement is that they be honestly held. It is fanciful to suppose that any of these people did not believe what they were saying. Even if they reached their conclusions in haste, or on incomplete information, or irrationally, the defence would still avail them. It would be wasteful to let proceedings go forward merely on the footing of a series of formulaic assertions to the effect that the individual concerned did not honestly believe what he was saying. There is accordingly no realistic prospect of any such claims achieving the only legitimate goal of vindicating reputation

[345654] 30/5/2012 11:58

You obviously think you are immune from prosecution buystock ?

[silkstag] 30/5/2012 11:39

BP, I cant name names but over the weekend a heavyweight accountant reviewed the Adventis published accounts and RNSs.

1) My posted £5.5m net liabilities at 30-4-2012 was right ballpark, but he calculates the deficit was already £5.4m by 31-12-2011 (*unless Tech Division performance has collapsed again in 2012 and earnout debt been written down).

2) He adds that Adventis must make an accounting provision for the future losses on the £255k pa HQ lease until April 2017, assuming it has been sublet at a loss (or is partly empty which is worse). Winks/Pearson concealed this problem in the Jan and May 2012 RNSs but it could be another £0.4m hit. Apparently the liquidator can disclaim the lease so avoid it, but Adventis must make the provision now.

3) He adds that Adventis had £772k of capitalised property, plant and equipment which should have been written down or written off before now.

4) He calculates that the 2011 loss is £5.7m* plus the above lease loss plus the above property/equipment loss. Thus the £5.7m loss could truly be £6.7m. Great job Winks/Pearson! [Although he wonders if they will just misaccount for these again].

5) A new horror emerged. We know Winks/Pearson misled the market in breach of AiM Rule 10 in various ways, but it seems they also issued crooked goodwill valuations in successive accounts. Most recently, in the 27-09-2011 interim results RNS, Winks/Pearson valued the Adventis Coltman goodwill at £3,254,000. But in y/e 31-12-2010 it only made profit before tax of £135,000, so earnings c£100k. They valued this struggling people business on a p/e of 32! Crooked scum! On 7-12-2011 (10 weeks after their crooked valuation) Winks/Pearson completed the sale of the Adventis Coltman assets for £75,000 and got £0 for that £3,254,000 goodwill. £3.254m shortfall. Their crooked accounting was busted!

6) The accountant thinks this is how Winks/Pearson will try to cover up the impending liquidation. They will issue another crooked valuation of the goodwill in the two tech subsidiaries. Having decided to sell them, apparently they should be in current assets, and valued at the lower of cost and net realisable value. Winks/Pearson will want to issue another wild crooked over-valuation, using a p/e over 17, and hey presto, it looks bigger than the £5.4m or more net liabilities.

7) The auditors, Mazars, are supposed to police such accounts fiddling, and they should be on 'bloodhound alert' after the Adventis Coltman fiddle was busted, but they seem to have a sue-wish [like a death-wish but they want to be sued for negligence or collusion].

8) His prediction: ATG will collapse in a crooked insolvent mess. FSA will be interested in anyone who traded and had phone record calls or emails with Winks/Pearson. Oh dear, Digitalis!

[silkstag] 30/5/2012 09:01

1)ATG net liabilities 30-04-2012 about £5.5m.
2)Tech management mainly out of lock-in so will take half of proceeds.
3)£0.4m earnings Tech advertising agencies distress sale p/e max 4-10. So £1.6-4m all-in including creditors.
4)Winks/Pearson sold two other ATG businesses, p/e 0 in distress and cash p/e 1.3 plus took on p/e 4.6 of creditors.
5)£2m other ATG net liabilities will go unpaid.
6)£1m Directors, advisors and liquidator fees add to deficit.
7)Liquidation deficit -4p to -8p. Could be worse.
8)All possible good news is factored in.
9)Shares worth 0p, rounded up.

These are the facts Digitalis will not comment upon. Ignore lies and spin by rampers and crooks. Tech sale cannot get anywhere near covering £5.5m net liabilites so ATG is dead.

[digitalis] 30/5/2012 08:06

60 quids worth of stock for sale online atm.....

[digitalis] 30/5/2012 07:58

come on lets try and keep on topic.....advfn is infested with those in the know....please use your own judgement if you can...

[345654] 30/5/2012 07:55

Loverat

He is certainly fearless, his last post under the pittsburgh name would be enough to get him arrested, just remind advfn that under buystock he was a premium user
so they should have his real details if they want to stop this sick person !

[digitalis] 30/5/2012 07:18

anyway back to the business end after the sillyness above, business bristling over at second2 our main tech division...its so strange,i have been keeping an eye on things over there for the past 3 months....the atmosphere is terrific,not to mention the very capable staff chugging through the new business pouring in...you would never think the situation was so dire....lol....or is it!...

please make up your own minds...


a tweet below from the second2 team this afternoon.....new client you say second2...lol....do they know Private Frazer (silk stag) says "we're doomed!"


Second2‏@second2tweets

In the agency today: we're casting for a video, writing lead-gen emails, compiling a report & embarking on a project for a new client #allgo



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