Eden Research Share Discussion Threads

[supersonico] 06/5/2017 21:25

Poor old consensus crafters SK and Fraufy it must be so disheartening when a Vendetta does not go to plan. All that carefully choreographed consensus dialogue between lubers SK and JakNife falling on deaf ears.


The FRC did not contact Eden in the year since old Fraufy made allegations which indicates to this delusional submariner that they don't agree with his interpretation which is why Fraufy will keep clear of the swing despite all the his vacuous 'overlooking' seat sniffing swagger.

Add to that Eden have technology which huge corporates want. They obviously disagree with Fraufy when he comically describes Eden Tech as 'Fraudulent Technology'.

No wonder no one can take him seriously.

Comical Fraufy.

[sweet karolina] 06/5/2017 12:36

JakNife,

Picking up on your point regarding pointless RNSs. ALNC is a service paid for by the reader which just rehashes RNSs normally with some comment on what has happened to the shareprice in the few hours since the underlying RNS was released, there is never any analysis of how important / meaningful the reported info is. As such I view ALNC as entirely pointless and would never pay for it.

Whilst Eden are never particularly forthcoming with the real info shareholders want, ie what real difference is what they have announced going to make to revenue / bottom line, they are no worse than average on the release of pointless RNSs scale.

I find all discussions between posters relating to the company worth while and informative. Atty has a point of view and whilst we both disagree with it, it is still informative.

My view is that Eden has taken a lot of money from shareholders over a very long time, sometimes in dubious deals eg the Oxford Capital 100% fee loan conversion and sometimes through outright fraud eg the Terpenetech Panama Pump to deliver not very much. They have however delivered something that does have at least some commercial potential. My view of that commercial potential is that one day it might just support directors' lifestyles without them having to continually issue more shares to support their lifestyles. At least one more placing is inevitable before that happens. I do not see the company ever returning any significant value to shareholders. Along the way there is the risk that past frauds may catch up with them, however given the willingness of the system to either turn a blind eye to it or just shrug and say well it does not really matter now, I think that is a small risk.

[sweet karolina] 06/5/2017 12:21

q12,

I suggest you wait for the Eden accounts for FY16. If Terpenetech is written down and FY15 revenue restated then the auditors will have done their job properly - possibly encouraged by FRC and there would be nothing to report to ICAEW. I reported TXO's accounts to ICAEW 18 months ago. ICAEW have taken it seriously and done a full investigation, but it still has not concluded. ICAEW only look at whether the auditors have done their job and not whether the directors have engaged in fraud. FRC basically take the same approach as they are interested in financial reporting standards, they will take follow on action against finance directors.

[sweet karolina] 06/5/2017 11:53

The Terpenetech share issue situation is interesting. No SH01s were ever filed, so we have to work things out from Annual Returns / Confirmation Statements plus the limited info given in the total exemption accounts.

Eden paid (in Eden shares valued at 20p but clearly sold into the market for quite a bit less) £308.7214 per share. What a strange price to pay!

At the same time Herb Friend got 2955 extra shares for nothing, but he does owe the company £2955 at the nominal value of £1 per share. Before the fraud Herb owned 22.52% of Terpenetech, after the fraud Herb owns 29.8% of Terpenetech. Nice. I wonder what he put on his tax return he has been given / paid £909K

There was a share transfer between the Biron brothers but overall the Biron shareholding has been treated exactly the same way as Herb's, so they have seen their stake increase for nothing / £1 per share unpaid and own 29.8% post fraud.

Gary Ostroff (whoever he is) got an extra 990 shares. Before the fraud he owned 9.9% and now owns 10%. Assuming he does pay the £1 per share he owes he has been given nearly £305k for doing what exactly? I wonder what his tax return says.

Blue Sky Nominees used to own 45% of Terpenetech and post fraud now own 0.5%.

[weyweyumfozo] 06/5/2017 09:39

There's nothing more terrifying than an angry accountant - I'm going to hide behind the settee.

[birotop] 06/5/2017 08:38

lol............

[quazie12] 06/5/2017 01:17

Peeps, you need to wake up and get real. Your management has no credibility, your auditor, no credibility and I will report them now to ICAEW with pleasure re TT. Watch this space.

[birotop] 05/5/2017 16:36

Get a life - muppet...

[supersonico] 05/5/2017 15:55

FrothyakaJakNife,
In answer to your question..

NO.. no one cares about anything you say about EDEN.

[attyg] 05/5/2017 15:28

Yes, the shares could have been sold at a loss - the Funds Flow is required to establish what happened regarding profit or loss.

Time will tell with Eden, but although it has taken much longer than anyone thought, it is clear that Eden is commercialising its IP. In addition, it expects to make a contribution to profit from toll manufacturing. While Eden has disappointed in the past, that does not mean it will always disappoint.
I remain optimistic that this year we will generate a cash profit.
As ever, time will tell.

Cheers

[supersonico] 05/5/2017 15:10

Thanks JakNife/Frothy

We obviously don't share the same understanding of 'pointless'.

But the fact that you consider these 'pointless' does make anything you post pretty irrelevant.

Then again no surprise since you described Eden Tech as 'Fraudulent technology'.

[supersonico] 05/5/2017 14:33

JakNife
'Eden love to publish pointless RNSs'

Which one/s are you referring to ?

[sweet karolina] 05/5/2017 13:16

Atty,

The shares were dribbled out into the market in the weeks following the fraud. You can see the shareprice dropping as a result - nothing unfortunate about it and the shareprice has not recovered since, screwing those PIs who bought the shares believing the transaction was real. As there is no cashflow statement we do not know what they sold all the shares for, but it would have been a lot less than 20p. The fact that they had ZERO cash at the end of the year indicates that they did not get all that much more for the shares than what they paid back to EDEN.

Even the wildly overly optimistic revenue projections from Shore Cap, which were missed by a country mile for last FY, would not generate enough revenue for Eden to make a profit in this FY, so your confidence is wildly misplaced.

JakNife, quite a bit of the loss you calculate is the difference in what they got for the shares and the 20p. Had there been a P&L statement, which conveniently the directors elected not to provide (perks of being a POS that only files total exemption accounts), we would have been able to work out what they got from dumping the shares

The other question is whether Eden will seek another deeply discounted bail out placing before trying to account sign off or whether they will risk getting a going concern emphasis of matter. Their avenues for raising more money through another fraud seem to be very limited.

[attyg] 05/5/2017 12:45

TT's shares in Eden were sold at no profit and no loss.
So all 4m were sold at 20p, probably all arranged, bought and sold, on 24 August, 2015.
In other words, someone other than the company TT was (were, if more than one) prepared to buy 4m shares in Eden at 20p per share - a newish peak and sadly the share price has fallen away since.
I can't be sure, but it would not surprise me if they were bought/transferred to Friend and Biron in their own names. Makes sense for if the Eden shares remained in TT then Eden would get into a circular situation as (eventually) the Eden share price increases, then it increases yet further as Eden has ~30% of a 4m shareholding being held in an associate, rather than Friend and Biron (perhaps) enjoying the full benefit of any increase in Eden share price as opposed to sharing it with Eden.

It would, however, be good if there was more transparency to the TT deal. The mystery elements seem an unnecessary distraction.

Anyhow, notwithstanding TT, Eden seems to be well on course with 3AEY now having approval in the important med countries. I am confident that revenue from 3AEY alone will generate profits for Eden in the current FY.

[sweet karolina] 05/5/2017 11:50

Sooner or later she will turn up here to duck the issue too.

Right again

[supersonico] 05/5/2017 11:49

Haha.. wrong again

[sweet karolina] 05/5/2017 11:45

Supersonico hiding behind her red ticks as usual.

[sweet karolina] 05/5/2017 11:33

Where is supersonico now the panama pump fraud is 100% confirmed? - not that there was really any room for doubt before all the evidence was presented in black and white in the Terpenetech accounts.

5 posts so far this morning on the WRN board all ducking the issue as usual. Sooner or later she will turn up here to duck the issue too.