Irvine Energy Share Discussion Threads

[yorgi] 02/11/2012 09:49

Agreed 100% Osammyboy.

Not any different to mugging a vulnerable person in a dark ally !

[osammyboy2] 02/11/2012 09:42

I haven't heard anything from anybody yet, no letters no phone calls. From what I gather from this board Irvine intends to become a wonga type company ie another loan shark with interest rates, judging by some of these companies, of up to 4000% To me that is immoral and should be illegal. I won't be investing in it.

[yorgi] 02/11/2012 08:29

Spot on in my opinion Benny :-)

[bennywin] 02/11/2012 08:25

I am amazed these people are still out on the streets.
Any one who spends one more penny with this shower needs their head examined.

[rs2ooo] 01/11/2012 23:31

Have any of the other Wonga.com style companies IPO'd ?

I know that Wonga have been trying to go down the IPO route for some time, but it's not a market I'm familiar with.

Irvine potentially have an advantage here in that they could be the first listed company of it's kind, and run properly, it's certainly an invest-able and potentially very profitable business.

Errol Damelin and Jonty Hurwitz are the Founders of Wonga.com and they have made £50 million between them in the last 3 Years, and the company itself has grown from nothing to a £385 million current valuation.

With the right people behind Irvine, numbers like that are realistic, of which, according to the prospectus letter, we would have 83% ownership of, between 1800 of "us".

Using Wongas numbers and their success as a guide, that would give IVE shareholders a value of over £200,000 each within 3 Years of start up.


However, whether such a business can be successful or not much depends on the business plan and there's not much detail on that in the prospectus, in effect, it's just a great business idea, but whether the new directors have the ability to make it a success is a pure gamble. In fact, this paragraph from the prospectus suggests the Directors know very little of the proposed Market:

"The Directors then intend to consult with specialists in the Peer to Peer sector, to work with them to develop our own P2P solution...could include developing our own site with partners we have identified who can build a P2P site..... or could involve using our paper to acquire an interest existing P2P facilitator"

Now the last bit of that sentence doesn't quite make sense to me, are they suggesting to acquire a P2P facilitator or are they suggesting to buy an "interest" in an existing P2P facilitator, or are they suggesting the use of Irvine to facilitate the IPO of an existing P2P facilitater?

I suspect it's not the latter, but if it was, that could be interesting.

I appreciate the Directors appear to have just put some ideas on the table, but I need more sauce before considering a further "investment".

I'd like to see this happen, but with a young family etc etc I can't afford to risk losing another £1000 making a Gamble.

[upthediff] 01/11/2012 21:14

On a serious note, does anyone have anything IN WRITING stating exactly what this 'new company' is planning on doing? I know a couple of posters have relayed information they've gleaned from telephone conversations, but if I'm being asked to hand over more money, I'd kind of appreciate knowing exactly what they're planning on doing with it.

Note to Irvine Mangement - You have a website....use it!

[medved5] 01/11/2012 19:17

jail them !

[upthediff] 01/11/2012 19:16

I don't want to discuss it. I want my money back, or at least the chance to offset my loss.

[madchick] 01/11/2012 18:03

Just noticed that over on LSE, where I've been updating information as it comes in from here, IVE have actually responded:

The company notes these comments, however if you wish to discuss the situation of the company, with the company please contact the directors on 0207 6531965 or at [e-mail]

[madchick] 01/11/2012 17:54

They can't even stump up £30k?! I reckon there must be investors who have already lost that much here. I can't believe the audacity of it! And all that does is pay off their debts!!

[upthediff] 01/11/2012 17:45

Just had a notification from my broker. This must be the most impersonal begging letter ever....

[haff1] 29/10/2012 09:12

..they couldn't manage an oil company - that we thought they knew something about - so what hope is there in something they probably know even less about?..

[upthediff] 29/10/2012 08:51

I've moved house twice since this whole debacle started. Hopefully they'll send me a letter via my broker who has my updated address...after all, we are running low on toilet paper.

[paulie1] 28/10/2012 14:22

i will invest my sock and thats it..and no letter sent

[madchick] 28/10/2012 13:35

It will cost me 25 quid just to sell my shares (the price of being in CH) which I suspect is more than they will be worth. So, annoyingly, I will probably have them just sitting there doing nothing until the new company is eventually suspended. Wash and repeat.

Izzy - I think we all feel we have grey hair by now!

UptheDiff - can't remember where, maybe it was the iii SXX board, but someone there said they had been thinking of investing in PAL until they saw a post giving the dire history of IVE and then they ran for the hills. So at least you have saved someone, and probably more. Good work!

[slepy] 28/10/2012 12:46

Received the letter yesterday. Went through it and might even send the envelope back.... with few nice words inside.

[upthediff] 28/10/2012 05:40

blue86 28 Oct'12 - 01:29 - 19762 of 19763


Big investor here



This is the company he ran off and started with Anthony Samaha after leaving us holding the baby.
The second it floated I posted on its boards warning people to be careful. Looks like I was right as it hasn't spent much time above the 17.5p float price.
That said, at least the PAL lot have the option of 'effin selling their shares when they want to. :D

[blue86] 28/10/2012 01:29

Big investor here

[drrichard] 27/10/2012 23:56

Yep, about 30 IOF shares,ish

[izzymiyaghi] 27/10/2012 23:45

That's my approach DrRichard...

If I even get £35 back...[ there's a lot you can do with £35 ]...

[drrichard] 27/10/2012 22:36

well, they are getting no more of my money- but I will stick around for the ride, if only because I cannot sell yet!

[izzymiyaghi] 27/10/2012 22:34

It's interesting how we become 'experienced' after suffering at the hands of companies like IVE...

[madchick] 27/10/2012 22:23

Oh, and I never dreamed I would be posting on IVE so long after it was first suspended!