Cloudtag Share Discussion Threads

[loglorry1] 09/4/2017 11:48

But Amit burnt through £8m+ in next to no time. Any new funds raised last a couple of months tops. Worse still they probably pay 3rd party invoices already raised. Even if this wasn't a scam getting it from where it is now to market will cost a lot more than a few PIs can afford.

If they have something they should license it to a big player and cut costs to near zero. That way someone may see a return. 99% sure they've got SFA though

[andy] 09/4/2017 11:34

loglorry1,

You highlight a very valid point, if resolution 5 is passed then the SAG's % of shareholding MAY reduce, unless of course it's the PI's on the SAG that take it up of course!

And reading some posts on the LSE there are certainly people there that would do so if Amit asks them to.

However, reading the LSE today there are certain posters asking valid questions, they are not all avid Amit followers by any stretch. It's refreshing to see good questions being asked of the company and the SAG.

[general george] 09/4/2017 11:32

Agreed SAG is a waste of time.

It seems brokerman1 has backed off from the SAG too.
Yea the obviously intelligent guy who accidentially bought in when his complex trading algos kicked in. And executed a trade through hsbc......

Might just be me.......but seems odd.

[loglorry1] 09/4/2017 10:40

The SAG seem totally lame. If they have the votes they say and belive there is value in there to save they should have immediately tabled a motion to remove the current board and replace it before any more money goes in. Instead they are already dancing to Amit's tune. Amit says he'll email and doesn't what do they do? Nothing they just wait. Resolution 5 looks safe to me. Then then any challenge will be rinsed away. They are sleep walking into losing any power they might have.

It's all academic anyway cos there is nout worth saving.

[henchard] 09/4/2017 10:39

Andy,

I don't know why Amit would promise the SAG an email yesterday if there was any uncertainty about him being able to deliver it.

As you say, not a good start.

[andy] 09/4/2017 10:30

Henchard,

Well I'll be surprised if he doesn't clear any communication legally, I thin he should do, don't you?

Why else would his reply be continually delayed? it still hasn't arrived apparently.

Not a good start for Amit or the SAG.

[henchard] 09/4/2017 10:23

It may be Amit has to run it past the legal team, which may not happen over a weekend.,

I don't think so Andy because Tim posted on LSE yesterday: 'Amit has just texted back saying "I will email later today as agreed ...'

[knigel] 09/4/2017 10:21

I guess whoever set up/suggested the SAG will be at the front of the queue to run it - remember not all members will have the time/Knowledge or experience to run it and go to meetings with the company etc. (OMG if I was a shareholder this could have been me because I suggested a SAG during suspension)
However with 600 members - if there is time - there should be people putting themselves up going forward and a SAG vote to select 3-4 members to be the voice - it should not already be written in stone. Clear that there is already unhappy members reading LSE last night - they need to be united or they will get nowhere.

[andy] 09/4/2017 10:14

GG,

LOL!

I agree the composition of the SAG is a concern until the members are known. What qualities do they have to offer such an important group?

I hope they haven't been selected on the basis that they were the biggest rampers of the story, or claimed the largest holdings.

The lateness of the email is due to waiting for an email from Amit apparently, although Tim did give a deadline yesterday at one point saying he would send without Amit's reply, but has not yet done so.

It may be Amit has to run it past the legal team, which may not happen over a weekend.

[general george] 09/4/2017 09:43

Aberdeen man? Who said he saw a working demo in Munich. (Hmmmm, No one else ever saw it working). Then was pulled up on LSE for lying about his subsequent big ctag purchase......

I wouldnt trust him to put my bins out.......

David Greece was the main ramper in chief, receiving emails direct from Amit.
This seemed very strange to me.

I remember reading a shareprophets article about a court case. An aviation company actually paying someone to ramp on bulletin boards.

I think DG was simply duped, he certainly seemed stupid enough.

I wouldnt want either of them on my SAG.

I probably opt for Grannysnuffs, at least he could swear at them on my behalf.

Rofl

GG

[general george] 09/4/2017 09:30

Telit is jewish too isnt it?
Red flags all over that company as well.

[henchard] 09/4/2017 09:11

'Tim' has been posting on LSE about when he'll email the membership and is presumably this fella on twitter (also involved in an 88e shareholder group).

However, various members on LSE have referred to a leadership "committee" with names mentioned including Aberdeenman and David Greece.

[ionlypostafterbbms] 09/4/2017 08:38

Who is the SAG leadership?

[henchard] 09/4/2017 08:19

Looks like the SAG leadership still hasn't emailed the membership. It was supposed to be sent out yesterday morning, then sometime after 3pm yesterday afternoon, then sometime after 6pm. The delay is due to the SAG not receiving an email from Amit he'd promised. I suppose whether Amit would deliver the email in a timely manner was always going to be a 5.2-million-dollar question ;)

[henchard] 09/4/2017 08:09

JakNife

Thanks for the link to that document. So, basically, a company such as CTAG, which doesn't wish to be tax resident in the UK, would be told by its tax advisor that it would be preferable not to hold its AGM in the UK; i.e. there's nothing nefarious about it but simply the Board acting on routine advice that would be given by any tax advisor.

Of course, we might still question why a company is incorporated and registered in an offshore jurisdiction in the first place.

[loglorry1] 08/4/2017 20:21

So Amit's got them hanging off his every word already. Quell suprise! Production by [insert date in future]....

I expect when this email comes out it will be the usual Jam tomorrow stuff with no explanation of past events and a request for more cash.

[nod] 08/4/2017 18:36

4th December 2014CloudTag (AIM: CTAG), which develops personal performance monitoring for the professional sports and consumer wellbeing markets, is pleased to announce that it has concluded a fundraising of £800,000 before expenses with new investors. The new funds will be used to complete the Company's development of its proprietary wearable technology, fund the release of the cloud supported version of the mobile app, MyCloudtag, and for general working capital purposes. In connection with the fundraising, the Company has today published a circular to shareholders convening an extraordinary general meeting to be held at the offices of Fladgate LLP at 16 Great Queen Street, London WC2B 5DG at 11.00 a.m. on 23 December 2014, further details of which are set out below. The circular is also available on the Company's website at www.cloudtag.com. Defined terms used in this announcement have the same meaning as those as set out in the circular.

[henchard] 08/4/2017 18:01

Further update from SAG leader Tim:

Amit has just texted back saying "I will email later today as agreed,. Thanks for your time yesterday".

I will hold the email to our Group until I hear from him.

Looks like Amit's email is "imminent".

[supersonico] 08/4/2017 15:29

Welcome to LUBE Central.

[henchard] 08/4/2017 15:23

Update from SAG leader Tim on LSE:

"I have yet to hear from ABH by email and have texted him to prompt him to respond.

So I will give him another two hours and will email the Group after 6.

The essential news is that we are more encouraged than before.

Enjoy the sunshine."

I expect Amit's email is "imminent".

[nod] 08/4/2017 13:47

JakNike, "I assume that you now accept the point that CTAG will hold its AGM outside of the UK to avoid the risk that it would become UK tax resident"

I would like to to see the UK HMRC tax ruling on this to read the finer points.

It doesn't make sense to me - but the whole tax system is so heavily biased towards international companies and against private individuals who have to pay more tax to subsidise the international companies who pay little tax.

CTAG has set up an international company without ever generating $1 in revenue over five years.

You need the money to pay fees to avoid paying taxes in the future. Or simply to conceal your identity.

[henchard] 08/4/2017 13:44

Fom SAG leader Tim on LSE:

"Hi Guys,

I will email all group later this afternoon after 3pm on progress made at meeting. I am currently waiting for written statement from ABH which we can include in email.

In summary reasonably good meeting; we have dates for production."

[henchard] 08/4/2017 13:35

nod, as JakNife says, you've moved off-topic on the specific AGM issue, although I don't disagree with the broader points you make. I'm pretty much satisfied that JakNife's correct.