Cloudtag Share Discussion Threads

[anasib] 10/6/2017 12:40

Thanks Nod. So basically ive lost my money?

[nod] 10/6/2017 12:00

Here's the link and the final paragraphs from the Shares Mag article. However, many points are applied within the legislation of a different Company Act, as you own shares in a Cayman Island company and not a UK company.

Concealment and money laundering are the purpose of registering in these jurisdictions. The reason is often portrayed as tax avoidance (read evasion) but this is a fallacy. For 35 years, I have lived and worked in three countries that offer concealment as a primary incentive for financial services.

In recent years, first-world jurisdictions have been forced to disclose company and trust information to the authorities in other countries. However, in most cases the information is still kept secret to the public.

>>>>>
Difficult situation

Overall, it seems like the odds are stacked against retail investors when companies delist even if there is value left within the business. Share prices tend to plummet at the point when a company announces its intention to delist. Investors all rush for the exit to claw back any money before liquidity disappears.

Deciding to sell shares in these circumstances is a tough one to make but might ultimately be the difference between salvaging some value from an investment that has not worked out and receiving nothing at all.

[andy] 10/6/2017 11:44

Nod,

Nice summary.

[nod] 10/6/2017 11:04

anasib,
First point is that you are legally a shareholder in CTAG even though they are delisted from AIM.

Successful companies delist and move to the main market. Some delist because of a takeover. A small number delist and continue trading. For many companies delisting is the first step to bankruptcy. In the case of Cloudtag Inc (Cayman) in which you hold your shares, the delisiting from AIM was not voluntary (Nomad resigned and no other Nomad would take them as a customer). Plus, CTAG stated they have minimal assets and cash despite the fund raising during 2016 prior to fiscal year end.

You own shares in a Cayman Island company, which has very different company rules to a UK registered company.

With all UK delisted companies the financial reporting and governance is much lighter. You may not hear any financial reporting for a very long time and what you hear may be selective.

However, you have to consider Cayman Island requirements and that you cannot readily get access to what CTAG files in the Cayman. CTAG had a UK subsidiary, Cloudtag Active, which is currently being closed down. Its people and operations (it had no assets) were transferred in 2016 to a new UK-registered company CT Technology Services. However, the new CTAG company has now appointed the same sole Director who closes CTAG companies and Amit and others have have all resigned.

The latest news from CTAG indicates a reorganisation as they did with Cloudtag Active. CT Tech (UK) looks destined for closure (this process takes a year or two).

Some Key points to consider (courtesy of the UK Shares Magazine). Remember you hold shares in a Cayman Island company and not a UK company so these key legal points will be less stringent.

>>>>>
Investors with shares in a delisted company have a number of issues to consider. We asked specialist commercial lawyer Brabners to talk about some of the bigger differences between owning shares in listed and unlisted companies.

• Financial reporting – There’s no requirement for an unlisted company to regularly report financial reports. The only requirement is to prepare and file annual financial statements and this can happen many months after actual financial year-ends. As a result, it’s hard for investors to keep track of financial performance and other information.

• Governance – Non-listed companies are not required to comply with corporate governance norms other than their standard duties under the Companies Act.

• Notifications of substantial shareholdings – Listed companies must provide timely updates on changes in the holdings of major investors but that is not the case in the unlisted market. This means it is harder to find out who else is on the shareholder register of an unlisted company.

• General meetings and AGMs – Listed companies are required to hold annual general meetings (AGMs) and other extraordinary general meetings (EGMs) to pass shareholder resolutions, such as if they want to undertake a capital raising or to vote to approve a dividend payment. There’s no requirement for resolutions to be passed at general meetings at unlisted companies, though shareholders must be notified in writing of any changes.

[anasib] 10/6/2017 08:23

I had some shares in ctag via halifax. Do i need to do anything so that if we get back up & running, i might get my moneyback?
Thanks

[nod] 09/6/2017 10:40

Eko looks very interesting. A unique product afaik.CTAG pretends it is in this medical space but it is a decade behind and no longer has any financial backers.

[saul goodman] 09/6/2017 07:49

Good morning all.


Andy

[andy] 08/6/2017 17:17

Log,

Exactly!

[loglorry1] 08/6/2017 17:00

Makes sense Andy. Anyone with genuinely valuable IP tends not to need to take it to the AIM market to get it funded ;-)

[andy] 08/6/2017 16:58

Loglorry,

It's not listed.

[loglorry1] 08/6/2017 15:56

Some here may not be evil shorters like myself and genuinely interested in these sorts of technologies so I'm pasting something I received recently from a consultant cardiologist


Take a look at The Eko duo device made by Eko in the states. It is a remote heart rhythm monitor with an ability to listen to heart sounds also. This is an exciting product and is FDA approved. I think it may have a role in reducing re-admissions of heart failure which costs the US 20-30 billion per year. Founders of popular music app Shazam have invested. Voted by TIME as best invention of the year.

I haven't looked into it and don't even know if it is listed but thought I'd share regardless.

[saul goodman] 08/6/2017 11:14

Good morning all.


Andy

[avatar333] 08/6/2017 08:31

Good morning all.

Tom

[roydyor] 07/6/2017 20:55

I think he is Grannysnuffs. lol

[headinthesands] 07/6/2017 10:34

this one bbmsionlypostafter

[mister md] 07/6/2017 09:51

which one is davidgreece?

[saul goodman] 07/6/2017 08:46

Good morning all.


Andy

[avatar333] 07/6/2017 08:44

Good morning all.

Tom

[nod] 06/6/2017 13:40

"Worth looking at company roles that have recently been shed."What roles have been shed?It sounds like you know something not yet released.Assuming these people exist and are not fictitious characters, it is easy to verify whether they were "shed" or left because CTAG is dead. "... that will be communicated to shareholders via the website as appropriate."

[nod] 06/6/2017 13:19

CloudTag to fill the shelves in 2016 says CEOShare 09:02 03 Mar 2016Amit Ben-Haim, chief executive of CloudTag (LON:CTAG),says more orders for the company's CloudTag Track and beatSmart Clip products are anticipated this year in addition to the pre-announced US$5.2mln distribution agreement.http://www.proactiveinvestors.com/companies/stocktube/4720/cloudtag-to-fill-the-shelves-in-2016-says-ceo-4720.html

[nod] 06/6/2017 13:16

3 March 2016:"From the second half of this year the company's wearable technology will be available from household name retailers including Argos, Dixons, Carphone Warehouse, M&S, Tesco, Karstadt, and Media Markt.Ben-Haim says discussions with Sears and Amazon are "all moving", and on the B2B (business-to-business) side CloudTag is in discussions with large medical insurers in Europe and the US including UnitedHealthcare which has 26 million policy holders."