Cloudtag Share Discussion Threads

[andy] 10/4/2017 10:17

Wshak,

Yes Amit still holds all the aces, the SAG urgently need two things IMO:

Legal advice
A market savvy person who isn't afraid to speak his mind.



After readng the email from Tim, it's quite obvious they hold Amit in some kind of reverance, instead of as an equal, which is what he is. This is a huge weakness.


Quite why they are refusing to seek/take any legal advice is beyond me, if all members contributed £20 each, there would be ample funds for a bit of advice! Again another huge weakness.

Tim has done a great job in organising the SAG in such a short space of time, but he has to realise he is dealing with an equal rather than a superior in Amit, and that the SAG has consoderable power if they choose to wield it.


They urgently need someone with market experience on the SAG, a cynic, someone that knows which aquestions to ask, and not afraid to ask them.

[andy pipkin] 10/4/2017 10:09

Good to see everyone ignoring granny. He's just a foul mouthed, clueless troll.

[grannysnuffs] 10/4/2017 10:02

here he is, where u been hiding all weekend bacon boy, left it to ur team of rent boys while u bummed ur woman up the rear eh, good man, keep it up, or get some cream to help LOOOOOOOOOOOOOOOOOOOOOOOOOL

[wshak] 10/4/2017 09:56

Given what has been reported about the CTAG SG's interaction with Amit, he is not taking them seriously.

In truth, they have no power whatsoever, no matter how many shares they claim to represent. Unless they control the board, they control nothing. I suspect, if he is given any trouble whatsoever in terms of issuing yet more shares, he will issue a "loan" to CTAG to tide it through its financial crunch, secured against assets.

Subsequently, the loan will be called in, and shareholders will be left with 100% of nothing.

It'll take time for retail shareholders to realise how well rinsed they have been, but they'll get there.

[andy] 10/4/2017 09:43

Nod,

On the January 2017 CTAG changed the address of their registered office to the Cayman Islands, but where was it before?

If it was in the UK, that would explain why they are now holding a meeting outside England.

I've never been a fan of companies registere in such places, there's often a bigger reason than just simply tax, epecially when there is no income to tax anyway!

[nod] 10/4/2017 03:31

My post 211 highlighted an extract from the RNS dated 4 December 2014 (EGM in London). How can you be UK resident one month and non-resident a few months later?Anyway, the RNS of 4 December 2014 was a turning point for CTAG. It is packed with revealing information, which has become even more revealing as we learned more and more facts later.Anyone interested in CTAG should read and re-read this RNS. This was the first RNS authorised by Cairn (change of advisor the same day).It was the first mention of Amit Ben Haim - appointed this day as a Consultant.It was the first mention of Golden Bridge Services (Cayman) but failed to mention its connection with Amit (Director of Golden Bridge Services).GBP800,000 raised to FINALISE development of the wearable, and the mobile apps.GBP250,000 paid to Amit in shares for organising these above funds.22 million warrants granted to Golden Bridge Disclosed two years later that Corvus sold all its shares just weeks prior to this RNS.One of only two non-Exec board members resigned the day before this RNS.A few months later ABH became CEO. The same day the 22 million warrants to Golden Bridge were vested for introducing Adience.I will wager that Adience is one of the third party consultants referred to later as receiving shares and/or warrants.4th December 2014 (extract)CloudTag (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.

[glenkaz] 09/4/2017 23:30

I wouldn't put 1p in that greasy Ammetw/nkers pocket! Wow the market his words! C/nt! ....forgot to put an f in front of that!

[bulgarian] 09/4/2017 20:47

Not seen anything mentioned of anything vaguely commercial / business related from Fridays meeting apart from another wet finger in the air guess on a production date for this best in class worldbeater.

[henchard] 09/4/2017 20:22

It's been suggested on LSE that Onitor has been removed from the Second Chance and Nemesis websites.

SC comes up "Ohh... You have requested the page that is no longer there" ... It still features in an old catalogue (PDF file).

Nemesis "It seems that you were looking for something. We re-designed our web site and re-worked its structure, so directories have been changed" ... Can't find it anywhere else on the site.

Odd, particularly as it seems to have disappeared from both distributors' websites at the same time. Wonder why.

[andy] 09/4/2017 20:19

Loglorry,

Yes they seem to have been in awe of him, which is not a surprise if they are ordinary Pi's without any experience of a blunt conversation with an experienced CEO.

By not replying on time Amit is, IMO, showing them who is boss and in control.

[loglorry1] 09/4/2017 20:02

Why o why didn't the SAG go into the ABH meeting with guns blazing? In fact why have the meeting at all. Vote down all the resolutions then call an EGM with their own ones. Wait for ABH to contact them.

If they don't have the votes they are pointless if they have them then first job is take control.

It's insane to think they can negotiate some sort of deal with ABH in charge. Mind you it's all insane as there is nothing worth saving.

ABH must be laughing his head off at the little lambs.

[andy] 09/4/2017 19:34

IOP,

He only came here to break up a good discussion.

Even the LSE madhouse is having a good discussion today.


edit.

They have reverted to petty name calling and abusing anyone even slightly critical of CTAG or SAG.

They'll be back to blaming Tom next!

[d6529] 09/4/2017 13:52

They will have to use their voting power strength abd tell Amit no to res 5 but not sure they are strong enough as you say, lambs to the slaughter

Tim sounds too nice, SAG need a battler

[loglorry1] 09/4/2017 13:42

They would need to vote down AGM resolutions and propose new ones at an EGM. It won't happen. I suspect res 5 will be passed. Shareholders diluted. ABH can sell stock to shorts at any price >0.1p including himself or related party. Then he's got majority again close down business quietly.

SAG gutless. Like little red riding hood negotiating with a large fury guy with big ears and a big nose.

[andy] 09/4/2017 12:41

"The short time scales before we are “over the crossing line” with a viable product which is selling on the market might not be so very long. We are looking at perhaps a three month time scale as a minimum."

---

"minimum"? The word 'maximum' would have been better. (is it a typo?)


To be fair to Tim, he comes across as genuine and honest, although he may not be the most experienced investor in the world, and that's not a criticism, he is putting in time and effort for no reward and we have to recognise that.


I would have nailed Amit on the Resolution 5, either change it or we vote no!

I am not sure it can be changed, I would have thought a new notice would have to be sent out, does anyone know for sure?


Resolution 5 is the key point, where Amit's interests and the shareholders' are not in alignment, he apparently earns a good salary, so his focus is on the money, not at what price he can raise it at.


I think Amit, with immediate effect, should take his salary in shares, until they have a product selling in the market. I'm surprised the SAG did not address the size of his salary, at this stage new money needs to go into the product, not people's wallets.

[andy] 09/4/2017 12:28

I have just been sent a copy of the SAG email that has just been sent out by them.

Not too many surprises really, the key point of disagreement with Amit is this:


8. AGM Resolutions 1..5.
All three of your provisional Committee Investors engaged in a debate with ABH about Special Resolution 5.

I pointed out to him that I had emailed him earlier in the week with feedback from our members and many postings on the bulletin boards that the mood of the CTAG Investors Group and the wider Investors indicated that it was not likely to be passed. We all accepted ABH’s claim that he needed to be allowed to raise funds. ABH would not accept the need for some form of restriction on the level of dilution of fund raising.

We did not discuss in any great depth the need for disapplication of Pre-emption Rights beyond ABH saying this was a normal annual AGM resolution which had been passed in previous AGM’s. Let’s see if ABH listens to our concerns and modifies the resolution before the AGM.

-------

The disapplication of Pre-emption rights is the key problem, and whilst Amit is correct about it being a normal AGM item, (giving the company carte blanche freedom to issue shares as it sees fit) but clearly this year this is a problem, and I would vote it down personally, otherwise dilution will be down to Amit, where his main focus will be the cash he can raise rather than the price he can raise it at. (He earns a salary I presume?)

The SAG seem to have made a good fist of an initial meeting, but he doesn't name the other SAG members nor their experience, and they really need to do that now IMO.

[andy] 09/4/2017 12:11

loglorry1,

Yes that is why really the SAG should go for at least one elected board member IMO, not an NED. They should vote 'no' to the re-election of the 2 directors, rather than yes.

I'm surprised they cannot see that, they are voting for the people that have brought CTAG to where it is now! Nuts......

The books need to be reviewed, and further financial support withheld until they are, IMO, but my guess is they would resist that proposition fiercely, and threaten closure unless new funds are forthcoming.

This all works like the Nigerian 419 scam when you think about it, they both rely on the fear of total loss of investment, unless more funds are forthcoming..............