BNN Technology Share Discussion Threads

[andy] 20/1/2018 12:42

Bergsy,

If he's not a director, his picture should not be there, IMO.

After details of the "secret bonus" I'm surprised anyone still wants him involved with the company personally. If the chairman had to walk for that, why is DM still here?

I think the main concern is he will still be pulling the strings in the background.

[bergsy] 20/1/2018 11:51

Wet, you keep shouting ponzi scheme but Bnn were given clean bill of health the other month by PWC investigation, so are you saying they are complicit in your ponzi accusations?

I'll throw the cat among the pigeons here, maybe there is going to be a return to the board for Mercer, that's why his pic is up. Maybe the accusations everyone is loosely throwing about are unfounded and the new chairman and Ned see his suspension as badly managed.
Or it could be the accusations are correct, who knows until clearer news.

[balance1] 20/1/2018 11:02

Wia, do you mean it is vital that Mercer stays and makes more of his deals that lose lots of money???

[adyfc] 20/1/2018 10:16

Bet your waiting to bail on the comeback.

[wla2510] 20/1/2018 09:54

If money has been wasted on extravagances whilst the fortune says of the business have been so poor it would be sickening. However, it is vital to the future of the business that Mercer continues in a prominent role. With him making deals we have a chance without him I don’t see one. This has been a very painful experience for me so far, over £500k at risk but I remain optimistic for 2018/2019 of a return to previous share price high.

[balance1] 20/1/2018 07:35

Unfortunately Wetwest, I suspect your information is accurate. Was shocked to open up the website and see the fake director tag on the board photo right next to the mug shot of real director Hanson. Either it means that our new chairman hasn't bothered to look at the website (which is bad enough), or he has but doesn't care if there is a fake director standing next to him, because the fake director is still really running the show/circus. Think we should get a break out of BNN company costs attributable to this guy over the last two years, among other questions. eg what class if flight did he fly? which hotels he used? Was the company paying for a flat in Mayfair? How much time did he really spend in China? How come he has been hit with a massive HMRC retroactive tax bill? Was this because he was fudging his days spent outside the UK?How much money has he and Qi disbursed into China over last two years and into what specific projects? What has been the return to shareholders on these individual deals? Whether the fake board photo remains on the "governance" page of BNN website will be a good litmus test of the new governance clean up, or is this just more fake news?

[wetwestwales] 19/1/2018 23:11

Ok, tell me which bit is “nonsense̶1;.

[and11] 19/1/2018 23:01

Wet!welcome back....just repeating the usual nonsense on this BB by certain people... let’s see what happens in the next couple of weeks...l do love the Ponzi shout... very amusing 😎😎😎

[wetwestwales] 19/1/2018 22:26

Oh please u lot, get a grip. I and a few others on here have been telling you all for some months.....this is a Mercer Ponzi scheme to piggy bank a 6* luxury globetrotting lifestyle all over the world. Wages, bonuses, loans, undeclared bonuses, expenses, travel, entertainment etc. He picks and chooses the board. He runs the place. He doesn’t spend time in HK. He is in NY (again) with his girlfriend and kid who live there. £1m spent on Nasdaq? Nah, £1m spent on flights, hotels, food, Barbados, NY etc. Why was his wedding called off at last minute?....he lost the keys to the til coz of suspension. We were paying for the wedding! His Mayfair apt was paid by us at £15k pm so he could see his bird. He has conned her too. She won’t know anything about him. He is Madoff. He is too far ahead of us. He runs the show. He has a lifestyle to aspire to and this Ponzi scheme has given him access to the cash. He is knowledgeable and smarter than us mugs. Get over it. Stop thinking RNS and Q3/Q4 results and NOMADs. All the China cash will be gone. Staff (300 ... garbage) will be zero. Contracts non/existent. Diversification stalled. Get in the real world folks. He has played a cracker and we are all over. How many times do you guys need telling. Go to bed and concentrate on something else. He is laughing at you. It’s done and some of us have been warning this for months. It’s been a scam. But thats only my opinion.

[and11] 19/1/2018 22:09

Guys! One thing at a time... New Nomad, suspension lifting, business direction going forward, new executive team is what counts! Nothing else... the website point is totally irrelevant... big picture not small picture...😎😎😎
28526;👍€077;

[charlesdarcy] 19/1/2018 21:54

Yes I have just looked at the web site .
Anyone wanting to clean up this company and quick .

Would not have Mercer name or picture anywhere near the company and here he is 2nd photo looking very smug .
Yet again poor show and lack of professionalism .

[andy] 19/1/2018 20:14

Balance1,

I totally agree, it makes him look like a director, and it makes you wonder whether he will be pulling the strings behind the scenes?

I think his position is untenable personally, the hidden bonus was the final straw. Clearly they intend to continue as a going concern, it will be interesting to see what else emerges about the loan repayment, or if other things will be brought forward to offset it.

[balance1] 19/1/2018 20:03

PC, I am sorry, but it is totally misleasing. A company has a main board of directors that represents the interests of shareholders. An Aim compliant webside is supposed to clearly present the board. They can not misrepresent an executive as a main board director, by calling him a "director" when he actually isn't on the board.

If BNN, under the new chairmanship of Mark Hanson is trying to fudge this issue, then it means they are going to fudge other issues as well, and attempt to rip off shareholders.

Lets see if Hanson really wants to create a clean company or not, starting wth the website.

[perfect choice] 19/1/2018 15:12

Yes agree he is not a board Director of BNN, that is what I meant (i.e. "It is not an executive role for the Board "). He is a Director within BNN for his specific role which is nothing unusual, so don't see it misleading at all, but actually correct, with all titles given being consistent with published RNSs. Yes it does say "Leadership and Governance", but it doesn't say "Executive Board of Directors". I can see your concern but as there is no exec board right now, who is to say who is on the new board when it is finally set up again. But Missing Ramsey out though is an error. I'll send them an email to alert them of their "error" as might as well.

[balance1] 19/1/2018 13:14

PC, Mercer is not a Board director of BNN Technology, he is a director of a division of the company, which is something entirely diffferent.

Ordinarily it is the ultimate responsibility to of CEO, or CFO to ensure the website is Aim compliant. In their absence, this is now the reponsibility of the Chairman.

Given all that has gone before, and they are trying to clean up their act with a new Nomad etc, this is highly misleading. Anyone looking at this page would naturally assume he is a director of the company. Ironically, it comes under the banner of "Leadership and Governance".

[perfect choice] 19/1/2018 13:04

Ah I see somebody has changed the leadership & Governance page on the website then balance1.

That DM title is fine and reflects the new title he was given 24th October RNS. I thought that was his title before today's change so not new. It is not an executive role for the Board but he is a Director, so basically acting as BNNs sales director in China today.

Yes they have missed off William Ramsay as another new NED but have added Mark Hanson as new non-exec Chairman. Think a request has gone in to request the change based on last RNS but whoever did this forgot a previous RNS adding Ramsey as an NED as well. Think I will call that a c*ck-up!

I know they use a third party for hosting the web site and undertaking content changes like this as it took some time for Harry Keiley to appear when he originally arrived. But sounds whoever made the change request forgot about adding William Ramsey!

[marmar80] 19/1/2018 12:52

They should change the name to Blockchain Technology :)

[balance1] 19/1/2018 11:55

Any Nomad (and Aim) running due diligence on BNN might start by asking who has been recently updating company website? Darren Mercer is presented as a new Director of BNN Technology, which he most certainly isnt, while William Ramsey has been left off.

The company may also consider changing its name. BNN is derived from one of its main operating vehicles, Beijing New Net. This is rather awkward since the investment in Beijing New Net has just been writted off!

[perfect choice] 19/1/2018 11:32

Agree balance 1, NOMAD is priority and any information Is may have informally needs to be formal before suspension removed so need for RNS. If BNN does get back to market, I do expect a trading and strategy update before the suspension is lifted.

[balance1] 19/1/2018 11:15

I think they need to get the Nomad over the line first. Putting out an RNS in this delicate period may even complicate the Nomad due diligence process. Once the Nomad is appointed, the company should put out some kind of time-line for re-quoting the stock Prior to the stock being re-quoted, there needs to be a detailed RNS that explains the status of the company's business so that the whole market can sense the value of the stockThe previous RNS stated that Mark Hanson had the support of the major shareholders. That clearly suggests he has a relationship with them, and is providing feedback on the turnaround plan. Any such information would clearly place the major shareholders at an unfair advantage over other ordinary shareholders. Aim and the new Nomad have a duty to ensure that ALL information that has been shared with the major shareholders, which may include preliminary financial information relating to FY2017, is made public prior to the re-listing. Clearly there are a number of issues relating to the departed CFO's allegations, and public references to aspects of the PwC report, that would be usefully explained in the interests of transparency and public confidence in the company (as well as in Aim).

[charlesdarcy] 19/1/2018 09:55

And11/PC
Agree that things must be busy at BNN .
But Mark can find 1 hour of his time along with his assistant to put out a RNS on Q3/4 which he already knows .
I hope we are not being strung along again to run out of time for the Nomad .
I agree with Del there should of been something today .

[perfect choice] 19/1/2018 09:33

There are only 2 weeks to go on the NOMAD deadline anyway so will be news shortly whatever is achieved. Know its frustrating not hearing anything but if Mark Hanson is busy trying to resolve NOMAD and new exec team, then we just have to wait and see what happens, since while the shares are suspended any progress news would be of little value right now for the business that is (the IIs are being kept up to date informally anyway, PIs are last in the queue then!).

Number 1 task is the NOMAD situation and in the next 2 weeks we will find if those saying a new NOMAD should be found now with Mark on board and resignations, or those saying they have been trying and getting nowhere are correct. As somebody else said, this is really watch and wait time right now.

[and11] 19/1/2018 08:38

Imho, I wouldn’t expect to see any rns until end of the month....let the new Chairman get on with what is required short term (new Nomad, CEO & lifting of suspension) & then he can focus on the long term future (development of existing agreements/ New contracts & partnerships) remember, 28m in cash in the bank reported less than 3 months ago, clean bill of health reported by PWC less than 3 months ago, China economy still growing rapidly! Keep the faith until officially told otherwise...

[delboy39] 19/1/2018 08:19

Another disappointing morning with no RNS .
Shareholders remain in the dark on anything of substance to do with this company .

[newbie17] 18/1/2018 17:06

Maybe buying from a liquidator when the vultures have already gathered would be less prudent than buying when the company is still intact with personnel etc. Especially if the price was right. There are many different reasons for both options. Liquidation may be a long way off yet and the business side of BNN stronger than we know at present. As I said, just a thought.