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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Bnn Technology | BNN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 42.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 42.00 | 42.00 |
| Top Posts |
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Posted at 02/5/2024 08:50 by drohnen am a small investor of BNN in Germany. In case of any possible repayment of loss thru Winding-up, where should I get registered. thanks |
Posted at 03/2/2024 18:22 by genises Previous Bnn coms4th May 2020 FROM THE CHAIRMAN, MARK HANSON Following the Company’s update on 3 May 2020, I have received questions and requests for clarification from a number of shareholders. I am pleased to share my responses for the benefit of all shareholders. Q. What does the Company continue to own? A. I can confirm that BNN owns all the operations and assets that it did when it entered into the original transaction with Global Fintech Holdings (GFH) and ParagonEx. Prior to then, the Company’s trading activities had been restructured and streamlined in preparation for a corporate transaction or asset sale. To this end, the business comprises three core divisions: Lottery Software and Games - developing new games for the Chinese lottery market. The division presently has two games progressing through the process for regulatory approval. The first, a virtual ice hockey game, is now awaiting final approval from China’s National Sport Lottery. The second, a keno-based game, has been approved at provincial level in Gansu and is also awaiting national approval. Each of these games will replace existing games which have historically generated significant revenues and, once approved, will be rolled out across a number of provinces. Technology and Operating Partner - our proprietary technology supports the official websites of the Beijing Welfare Lottery, Shanghai Welfare Lottery, Guangxi Welfare Lottery, Heilongjiang Sports Lottery and Gansu Sports Lottery. In two of the provinces, we have partnered with a number of large Chinese banks to exchange customer loyalty points for lottery tickets. Self-Service Lottery Terminals – Since 2012, BNN has been at the forefront of developing lottery terminals in China. The Company has delivered several major upgrades in payment systems for the lottery sector, allowing players to purchase tickets on either lottery terminals or their own mobile telephones, as well as printing winning tickets. On 1 July 2019 we announced a nationwide technology, promotion and marketing contract to support the roll out of a leading-edge lottery platform with one of China’s largest retail groups. This opportunity has not been progressed whilst we have been focusing on the completion of the listing, we will now however resume the roll-out whilst we are waiting to complete a new takeover or other corporate transaction. Q. What is the Company’s current strategy for delivering shareholder value A. The Company owns several valuable businesses, contracts, licenses and assets, which the Board is very confident it can realise significant shareholder value from. There are a number of options for us to consider and we have several opportunities to pursue, including takeover deals, as well as business and asset sales and also strategic mergers. As Chairman I am personally leading these discussions and look forward to updating shareholders on progress as soon as is practicable. Q. What are the staffing levels in China A. Following the completion of our streamlining exercise and cost cutting programme in 2018/2019, we now employ 73 staff in China, which support our three core divisions. With our focus on technology and online activities, the Company is highly scalable without the need for a large workforce. Q. What is the status of the audit of the 2019 financial statements A. The audit of the BNN Group accounts for 2019 is currently underway. The audit of the trading subsidiaries would have been completed as part of the GFH audit, had the transaction completed, whereas BNN is now undertaking the audit in its own right. The audit is being conducted in accordance with US GAASs, which are more stringent than IAASs, with the objective of presenting the business on a more compatible basis with potential buyers. We are advised that the process will take longer than would ordinarily have been the case due to the severe impact of COVID-19. We will inform shareholders when the audited financial statements are filed. Q. How has the Company’s cash balance been impacted by the terminated transaction A. As can be seen from the audited accounts at 31st December 2017, which was prior to the announcement on 26th June 2018 of our intention to pursue the deal with GFH and ParagonEx, the Group had £20.7m of cash and £19.5m of current liabilities, of which the latter included £10.8m of bank debt that was repaid in 2018, as well as a convertible loan note of £5.8m. Net cash was therefore relatively low. We alerted our institutional investors, other major investors and their representatives before embarking on the GFH transaction in 2018 that we would incur significant costs if we were to pursue what was a highly complex merger. This was met with their full approval and support, as well as their funding pledges. I appreciate how extremely disappointing it is to all the Company’s investors, as it is to me and my colleagues, that the GFH transaction has terminated, in particular as we were so close to completion. With the world’s financial markets impacted so severely by COVID-19 in February and March 2020, which caused the withdrawal of our cornerstone investor, it simply wasn’t possible to salvage the deal. As mentioned in our announcement of yesterday and also above, we are however confident of securing and completing an alternative transaction, once conditions allow, that will deliver significant shareholder value. I look forward to updating all shareholders on our progress in this endeavour in the coming weeks. ENDS 30th July 2020 FROM THE CHAIRMAN, MARK HANSON Dear Shareholders Further to my previous communications of 3rd and 4th May 2020, as we approach the end of July I am pleased to provide a further update as set out below. As mentioned on 3rd May, despite the very challenging market conditions and economic back drop, we hold a high degree of confidence in relation to achieving some form of corporate transaction that would realise significant shareholder value. We mentioned at the time that we would progress such opportunities as soon as market conditions improved and allowed. Whilst it remains a very challenging environment, especially for any deal requiring new funding, such as ours, we have been able to make meaningful progress with several potential opportunities. The most favourable of the options available to us involve a takeover of the Company’s, business and platforms, including those relating to its lottery business which remains intact, and/or its trading subsidiaries, which would result in BNN shareholders receiving shares listed on a recognised stock exchange. Such deals are expected to give BNN shareholders the opportunity to realise their investment in the future. In terms of timings, the current climate and circumstances makes the process a slower process than it would have been pre COVID, amongst other things in relation to interested parties performing due diligence in China. I can, however, report that meaningful progress is being made and that we hope to complete a transaction during the fourth quarter of the year. At the same time as progressing the potential corporate transactions, the Company’s management team and work force in China is continuing to develop the business and seek opportunities to further enhance shareholder value and make the business more attractive to buyers. In alignment with the interests of shareholders, all management, including myself, are highly motivated and interested to maximise shareholder value and achieve a transaction that gives all shareholders the opportunity to realise such value at some point in the future. Once we have more clarity on our preferred way forward, we will consult with our largest investors/shareholde receive further news over the coming months and we will also convene a General Meeting once we are at the stage of proposing any to shareholders. Whilst writing, we are keen to clarify certain points in response to some of the most frequently asked questions that have been put to us, which are as follows: 1. The Company’s accounts for the year ended 31st December 2019 were filed at Companies House on 30th June 2020 and should be available to download from the Companies House website within the next few days. 2. The Company has retained all of its businesses and trading assets, including all those relating to its lottery business. It has not transferred or sold any businesses or trading assets to GFH or MICT 3. The Company has licensed part of its payment technology to GFH for use in Fintech applications, in return for a licence fee. The Board considered this to be in the Company’s best interests as it generates additional income whilst also strengthening its relationship with GFH and its value as a potential acquisition in the future. The Company retains the right to continue to use the licensed technology in its own business operations and has retained exclusivity over the technology in the lottery sector. 4. The Company sold its holding of 1,363,000 common stock of MICT Inc to GFH on 18 May 2020 for $1,800,000, which equated to a price per share of $1.32 (compared to the share price at the time of $1.15), satisfied part in cash and part in the satisfaction of debt, so as to generate urgently required working capital, which became necessary once its external investment and takeover transaction had fallen through. 5. The current UK operating costs of the Company total less than £100,000 per annum (including Directors’ remuneration). As a Board we are fully committed to controlling costs as tightly as possible. I look forward to updating all shareholders again in due course |
Posted at 31/1/2024 22:14 by genises So to read through the smoke and mirrors - Mercer has bought himself a position at MICT inc and effectively they will pay him via the investors funds that have been transferred from BNN.Not sure how he can help with relationships in China as I would have thought most prudent companies would have taken contingency measures and changed suppliers as the BNN car crash became the saga it is today. Shareholders are still hung out to dry with no sign of any hope of recouping their funds. Update will be provided in the near future - meaning " I will continue the scam that has been going on with your money as long as I can get away with it" Mercer still living it up as spotted in London this week and most likely wining and dining as usual no doubt on expenses that we the shareholders are funding. SCAM !!!! |
Posted at 31/1/2024 22:10 by genises Being doing a bit of research hope some of these posts from posters and CEO may helpDuring the last weeks, our FinTelegram Research Team has been working intensively on the broker schemes around FSM Smart, UFX and ParagonEX. According to the documents and information available to us the FSM Smart scheme is one of the largest in the illegal brokerage scene, UFX brand is owned and controlled by the ParagonEX people Haim Toledano, Saar Pilosof and Dennis-Hendrik de Jong and the website operated by ReliantCo Investments Ltd, which is regulated in Cyprus, UFX uses ParagonEX technology and infrastructure (see our report), Trade360 is also a customer and partner of ParagonEX and is operated by the Cyprus-regulated Crowd Tech Ltd. Connections between Lexbond, FSM Smart and Crowd Tech? In the course of the research on Lexbond Systems Ltd, it turned out that the broker page CapitalTechFX put only recently on-line is allegedly operated by the regulated Crowd Tech Ltd. This is at least stated on their website. However, at this point, it could become critical for Crowd Tech Ltd. Without any reasonable doubt, the website of CapitalTechFX belongs to the Scam-Broker network of Lexbond Systems Mar 5, 2020 #1 Hello fellow victims and interested parties, ParagonEx are attempting a reverse merger involving a Chinese company as per the SEC filing link below: hxxp://archive.fast- This means that the money you have been scammed out of is being used to finance this deal and the already wealthy individuals are about to become very wealthy. It is also an attempt, in my opinion, to legitimise an illegitimate business / product. A product which has been used to steal large amounts of money from thousands of individuals. UFX and Trade360 with then have access to wider markets. ParagonEX will then find itself listed on the NASDAQ alongside serious institutional and corporate investors who may or may not know the full story. |
Posted at 26/1/2024 18:40 by j_up_north I've been coming back to this thread over the last year or so as an investor into some of Ben White's many scams. I invested a very small amount into BNN - I appreciate my loss is insignificant compare to some of you - and I've written off any prospect of returns on anything. Other clients of White will know already that this is just another one of his schemes to extort money and has been from day one. Regardless of whose name is on anything, it's White still pulling the strings all these years later. How have they just let him swan off with however many tens if not hundreds of millions of pounds?? |
Posted at 08/1/2024 10:25 by marpleleaf Hi, I was contacted by one of you regarding the investigation into Tingo by the SEC. I edit a website based in the North West of England called TheBusinessDesk.com. I am interested in this story, but would prefer it if you could contact me via email, or check out my LinkedIn profile and message me there.I may not have the reach of Dan McCrum at the FT, but often our initial deep dives get picked up by national media who we work with. I'm particularly keen initially on speaking to investors in the North West who may have lost out. My email is michael.taylor@thebu |
Posted at 02/1/2024 12:48 by darren dozy bnn mict tingo Yup have been in touch with FT and others. This is the best chance to get the story out there and perhaps some justice and would urge others to do same. This was Hindenburgs conclusion in September after DM had been the CEO for around 12 months and seems hauntingly similar to what happened before at DJI, BNN and MICT..“Conclusion: We have never seen a scam more brazen and more obvious than Tingo. We strongly suspect that virtually all of Tingo’s rosy claims and financials are fake. We also strongly believe that its previously claimed cash balance, which conveniently disappeared when we raised questions about it, never existed at all. The company has repeatedly misled investors about the nature of its claimed independent review and its relationship with White & Case, which we suspect no longer exists. The fact that the company has avoided answering all questions and has simply blazed forward with more absurd claims shows that it has zero regard for potential consequences. Thus far, NASDAQ and the company’s independent directors have tacitly blessed the situation with their silence, as has Deloitte, the company’s current auditor of record. We do not expect it will end well.” |
Posted at 01/1/2024 18:20 by darren dozy bnn mict tingo Well certainly a lot of people particularly in the North West of England have lost a lot of money from the suppliers at the bells of peover, investors in DJI holdings and shareholders in BNN, MICT and then Tingo. DM made sure he was very well compensated throughout and funded a lavish lifestyle whilst a lot of people have lost a lot of money and been deceived for years.. This would make a great documentary “from the Bells of Peover to Beijing to New York to Lagos” it really would be an interesting story for a good journo to piece together. Now really is the time to shine the light on this as the Tingo story is a big one given its scale, timing and the incredulous numbers which is hot with Dozy being charged in the US. This would not have happened without Tingo being reversed into the MICT vehicle and DM being the face and architect behind the Tingo numbers, stock market briefings and listing on NASDAQ. |
Posted at 01/1/2024 17:50 by skin18 It would be interesting to know how many BNN investors asked the SFO to investigate the company. Perhaps if they had, what is happening at Tingo now, might not have happened. |
Posted at 19/7/2023 23:17 by marmar80 SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Tingo Group, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of August 7, 2023 - (NASDAQ: TIO)Source: PR Newswire (US)NEW YORK, July 19, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Tingo Group, Inc..Shareholders who purchased shares of TIO during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securit |
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