Cellcast Share Discussion Threads

[smithie6] 19/11/2017 13:05

imho the large shareholders should ask the FSC-FSA (or whatever their name is this year !)

to freeze the shares of the ex MD

until all of this is sorted out

if he is liable due to gross negligence, then his shares can pay part of any liability
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In any case, imho Mr Neville (chairman) needs to walk the plank. And whoever was the financial resp.

[smithie6] 19/11/2017 12:48

that discusses a fund investing in OPIs

whereas CLTV 2015 accounts talk of investing in Lexinta treasury fund

which in theory should all be zero risk, surely....assuming that invested in Germany Govt treasuries and not in Venez. or Argentine treasury !!

unless it was a Ponzi

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71.5% of CLTV is not in public hands (in reality it is higher imo)
so the big hldrs can do whatever they want to the bod imo and demand whatever explanations they want from the bod, which is good. The bod must dance and perform as reqd. or the big hldrs could threaten to remove them.

[nazrat] 17/11/2017 18:29

Good points you raised Smithie. And it all seems rather naive of the company to entrust the companies hard earned to some unknown spiv in Zurich. And especially Cellcast should have considered paying a maiden dividend to its rather battered and bruised shareholders first.

Heavens forbid now if Cellcast would be in need of cash and that the business is put in jeopardy over this affair. If so then yes a call for the warrant officer to release rope from the ships stores and justice be served at the yardarm...

So having a quick look at this Lexinta hedge fund i see they have made a couple of bad investments, one being Berkeley mining and another in Exo Level and i guess there are a few more stinkers on their books as well, so a slide into the nether regions of a ponzi was a lesser of the evils to them than just declaring bankruptcy.
And i don't think anything will come from the Swiss in form of compensation if the poo hits the fan. Though it's not the end of the world if they don't but lets wait and see if they pay up or not. And all considering this should put the fire under the company to run a tighter ship in the future.

[smithie6] 17/11/2017 14:34

if I was the FD of CLTV Id have split the money between different holders....& have kept to big hldrs

putting about half of the company'd cash with 1 overseas holder that is not a big respected fin. institut. appears mad.
..although there has been a nice gain due to exch. rate movements, phps that was the main logic for doing it.
and maybe some bills are in that currency (although most costs are in £ I thought so holding a diff. currency infers risk...unneeded risk surely)

[smithie6] 17/11/2017 14:30

for a micro company to go investing a large % of its cash in an overseas fund in other country with cash only retrievable 1 time per year

while the company has had massive risks & massive changes including cost base, operating location, operating model
...for which you MUST have instant access to your cash to get you past any shortterm problem...

always seemed mad to me

but I assumed that it was 'cause the dirs were super confident in the business & that the co. wldnt need the money
& partly done to send out a msg of financial stability, security...to phps help in any deals with suppliers/clients...

[smithie6] 17/11/2017 14:18

nazrat
interesting to read your views...

I guess you r right....that if anyone is going to do a Ponzi scheme then spending money on offices & staff in order to give a 'valid' appearance is probably vital...

be interesting to see what happens

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is it not normally a regulatory reqt that a 3rd party must hold the funds, to avoid any mgr doing a runner with client money ?

( since the bag holder at other co. wld also needed to be corrupt & their mngr which starts getting very difficult to achieve imo

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Does Switz. offer any g'tee or compensation ?

or just a paltry 100k€ or something ?

(if it is/was a Ponzi then I guess the resp. execs. at CLTV for being duped are probably nervous ! (gross negligence ? & hence some liability)

[nazrat] 16/11/2017 10:42

Smithie,

Lexinta has all the hallmarks of a ponzi scheme. And its not only Cellcast trying to get their money back. And your comments about why they are opening more offices is simple.

From Wiki;
Companies that engage in Ponzi schemes focus all of their energy into attracting new clients to make investments.

[smithie6] 15/11/2017 13:49

some notes on Lexinta


2016
Zug adviser (Lexinta) expands to Hungary and prepares for acquisition

"There are four members in the Budapest team and they report to Bismark Badilla, president and founder of Lexinta. Commenting on the new branch, Badilla said: .."

The Budapest office follows the opening of a Hong Kong office in May 2015.



hxxp://citywire.ch/news/zug-adviser-expands-to-hungary-and-prepares-for-acquisition/a977032


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19 Sept 2017.
zug-adviser-sets-up-alternative-investments-desk in Zurich
with experienced ppl
so doesnt look like they are going bust or operating from a garage

hxxp://citywire.ch/news/zug-adviser-sets-up-alternative-investments-desk/a1050867



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If they have 4 staff in Budapest and > 4 in Switzerland
then they have a fair amount of costs to pay....
so must have a large amount of assets under management
so the amount to be paid back to CLTV is quite negligible imo as a % of funds under management at Lexinta

as I recall the funds were only repayable once per year (although perhaps that can be broken if accept losing any % return for the part of that year if take out early)

(if anyone was planning to do a runner with client money then imo they would not go employing different experienced fin. staff and opening expensive offices in different countries, which surely just adds control and restrictions and is a drain on any funds
so, I doubt that the money has vapourised...

but it seems a real problem since CLTV has decided to put the non-payment in the hands of the Swiss regulator !

strange

[smithie6] 14/11/2017 19:28

I thought it was higher than £330k...
but I did report the value in accounts being wrong to the FCA that accounts were wrong...& they agreed !...current accnts r correct apparently

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if the returns were not true then that infers ponzi scheme...& risk that all the money is smoked...
'if' the dirs invested in a Ponzi scheme then they need processing ! (legal duty in co. Act to safeguard co./shareholder assets)

..I cant recall the gain but fairly easy to have made big gains in recent years...
if make 15% by decline in pnd...only need to make 10% to get 25% overall
& world mkts have been very volatile..(Russia, Asia up, Brasil up, USA up...)..if get it right then % gains have been possible ( & the opposite !)

[nazrat] 13/11/2017 20:13

Smithie, Looking at the accounts i see only £330k invested in Lexinta. And yes with the great annual returns which seem just to good to be true maybe more due diligence was needed. Also this will not sit well in Zurich of all places, so i would expect the Swiss Fimna (FCA/SFO) be over it like a rash for a quiet resolution for all the parties involved.

[smithie6] 13/11/2017 13:20

nice to +ve trading report

& that on-line part is doing well

[smithie6] 13/11/2017 13:19

returns from Lexinta fund

most of it is imo just due to the fall in the pound
many money ppl made money by moving money out of sterling before Brexit storm

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surely anywhere you put £1/2M
you get checks done first on size and history....
all sounds too weird to be believable....

[nazrat] 13/11/2017 12:14

Well it seems the returns over the last years from Lexinta have been a bit too good to be true, but getting the cash back would be rather handy. And the few words mentioned about current trading and cash balance is an eye opener and maybe Craig the new boss is turning things around fast.

[smithie6] 13/11/2017 11:03

hmmm

any views on whether the money from fund mngr will be rxd ?

has the co. invested £1/2M in a fund run from someone's bedroom ?
who has now done a runner with all the money ?!!

Gary, as a big hldr in CLTV I guess you will look at that inv. mgr. to see if it is real or a scam
..what is your view ??

[rb1206] 13/11/2017 08:16

Gm....an Trading update today.

The Directors of Cellcast also wish to provide an update on current trading. Following the introduction of the new supplier agreement earlier this year, details of which were announced on 27 July 2017, the Company has been trading profitably at the operating profit level, based on unaudited management accounts. In addition, the online segment of the business has been performing well.

The Directors are pleased with the trading performance of the Company in the second half of the year to date and are optimistic about the prospects for the next financial year.

[philjeans] 13/11/2017 07:32

What would you like first? the bad news or the good?

!!

[smithie6] 09/11/2017 14:21

good questions !!

Ive got some....so I hope its up !!

very little or no visibility....

[davidruk] 07/11/2017 11:31

Any updated thoughts as to where this share is going?

[rb1206] 11/10/2017 17:25

Smithie6 - Weldone with FRRP.

[smithie6] 09/10/2017 14:03

Where there many or any comments on the recent results ?
Any opinions ?

[smithie6] 09/10/2017 13:27

the recent results phps help to show the low value given to tang nett assets..

phps helping trigger some buying...
or

maybe someone who knows & likes the details of lower cost data-comms provision

( I know for me that the cost of 1Gb of mobile data has divided by 3 or 4 ! in 1-2 yrs.
that is big.)

ah...small penny just dropped linked to that !!

;-)

a bit of lateral thinking & you can think what it is