Irvine Energy Share Discussion Threads

[moormoney] 27/9/2014 14:43

Cheers for that upthediff.

[upthediff] 27/9/2014 14:24

Blimey, a reply.....Thank you for your emailIt has taken longer to achieve what we want for the Company, however there is a letter dated 30th September which should be with you next week.When you receive it, please feel free to contact us again.RegardsR AllenFor OFSG

[upthediff] 27/9/2014 11:12

Just sent this reply to the mail I received on June 3rd!!!!It's been almost 4 months since you sent me this email and as far as I can see there have been no updates. The way you and your predecessors have treated shareholders is absolutely disgusting. It's no wonder you're struggling to get any support you new venture. May I respectfully suggest that you stop trying to raise cash from shareholders and either put up the cash yourselves or shut up shop.Regards

[tommo41] 19/9/2014 08:46

I take it that nobody has heard anything. Is there a chance that they've just given up, shut up shop and moved on without giving any formal notice? Whatever, the silence since April has been disgraceful.

[abudhabitrader] 08/9/2014 06:46

Not posted here for a while but feel everyones pain. W4nk mgt, w4nk share. Put this debacle down to experience. Aim is a bag of shlt. For every rise probably hundered fallers. All the shares Ive eveer followed are on the ar5e and thats even when the economies are meant to be improving. Load of rubbish. Ive come to the conclusion shares is a mugs game. At best double your money at the worst lose it all bu tmost cases it goes down 1000%

[osammyboy2] 06/9/2014 19:20

Yes true but if you can give the shares a value you can enter that as giving to charity on your income tax return. This will raise the threshold at which you enter the 40% tax bracket.
Alternatively, you can ask HMRC to declare the shares of Nil Value by submitting a claim on form CG34 then use the loss against CGT. However if they do come back to life you will have to reverse the loss

[tommo41] 06/9/2014 14:44

FlyingSwan,

Yes, you can give your shares to charity, but if you do that you lose the CGT offset benefit of the loss.

[flyingswan] 05/9/2014 08:48

I understand you can close your account if you give your shares away to charity.

[tommo41] 05/9/2014 07:37

RS2000,

I think many of us on here have a similar story to tell regarding our IVE "investments". I first bought in around the 4p mark and regularly averaged-down. The last time was on the back of a very-positive sounding RNS which was put out about a week before the shares were suspended, if my memory serves me correctly.

The people that run OFSG are a different bunch to the fools that ran IVE but they took advantage of our predicament by consolidating what we had left by 200:1 and expected us to back their new business with more of our money.

I've still had no reply to my last e-mail. Perhaps it's time for the financial authorities to have a look at these because they've said nothing since the last Open Offer closed in April, which they must have been obliged to do. They are a disgrace for treating shareholders in this manner, even if the vast majority of us were not prepared to put another penny into their coffers.

[rs2ooo] 04/9/2014 23:58

tommo41 10 Aug'14 - 14:42 - 20061 of 20070 0 0


========================

I'm in exactly the same situation - paying £100 a year to a broker simply because I'm holding this stock, nothing else.

Being fairly new to investing in 2008, I was sent a booklet by a large IVE house broker (can't remember their name right now, but a fairly well known outfit) recommending various stocks, and IVE was their shining star for 2008 with a share price of 4p and alleged assets valuing the company at 10p, and a potential price target of 18p.

I was really taken in by it, you know, being a new investor and having such a large company take an interest in ensuring you invest wisely by laying out all the facts in a brochure.

So I started watching the share price and sure enough every day it seemed to be going higher. I read everything I could about the company, and then this BB which had long term members calculating future valuations for this amazing little company.

Well, I didn't need my savings at the time and felt quite comfortable investing it for a couple of years and being quite sensible I invested a 5th of all my savings into IVE, at, from memory around 4.5p.

The share price started to dip and I thought, you know what, I've made a beginners error buying when the price is going up so fast, I should have waited for a correction.

The correction went on for some days or Weeks, and started to move up a little, so I added 10% more of my savings to the holding, at around 4p.

I think the 2nd tranch showed a profit for a day or 2, but I was quite underwater overall so I just held on.

A short while later the price suddenly dipped to 2p, and stayed there for a while.

The BB was full of experts talking about how solid this support is and how the market was really undervaluing IVE. As I'd just sold some other shares for a small profit I was feeling quite pleased with myself, and thought if I average down this IVE holding things wont look so bad in the account and of course, I stand to make quite some money out of this investment, so I added another 15% of my savings, essentially doubling my holding and bringing my average down to approximately 3.3p.

Well, the rest is history.

The only good that did come out of it is the fact that all these technical experts shouting "support" at 2p were all wrong, and this led me to find out for myself how to do technical analysis.

I soon realised the outcome of T.A has a poor accuracy with small stock shares so I started trading currencies and Indices, and still do to this day, having never touched a penny stock since.

The only other stock I hold is B.P which I bought some Weeks after the oil disaster as a long term investment for my pension. The Value of B.Ps shares means little to me in the medium term, my interest is in the quarterly dividends that pay so much more than you'd get in interest in a bank.

So there's my IVE story!

What does bother me is the fact they asked for additional investment to start a pay day loans type business and I'm sure many people invested based on that business plan, but now they're talking about a completely different kind of business which in my eyes means the shareholders have yet again funded a business that is never going to happen....In essence IVE hasn't changed what its always done....It takes, but never gives.

You get to a time in life where you realise these directors are people just like you and I. The majority have nothing to give to a business that you or I couldn't give, in fact I believe I could run some of these fallen companies so much better than the people I stupidly trusted and invested in.

Many are truly incompetent at what they do, and as the figures speak for themselves it can only be conscious incompetence, thus they are no different to conmen.

[tommo41] 27/8/2014 21:34

Okay, thanks. I had an acknowledgement that my e-mail had been
received and that they would answer my query as soon as they could,
but nothing since. You know, when all is said and done, it really
is quite disgraceful that they have said nothing since the Open
Offer period closed in April.

[osammyboy2] 27/8/2014 19:10

Nothing so far

[tommo41] 27/8/2014 18:46

Anyone have any luck with replies to e-mails?

[osammyboy2] 20/8/2014 12:39

Contacts for ofsg:

Phone [phone]
Fax [phone]
email [e-mail]

As for getting a certificate; this may not be possible since they are not listed on any exchange

[sparty1] 20/8/2014 10:41

also you are entitled to ask for a share cert.. do not take no for an answer..

[osammyboy2] 13/8/2014 13:45

Copy of email sent today


"Still waiting for that letter to shareholders you were preparing over a month ago
Enough is enough. Time to admit that you have not raised the funds to complete the purchase of Cover Options and let shareholders write off our losses"

[tommo41] 11/8/2014 15:42

mwestern,

I did ask Sharecentre if I could do that but they said I couldn't. I will ask them again, though. Thank you.

[mwestern] 11/8/2014 06:55

Hi Tommo

I originally held my IVE shares with Selftrade (a broker who I also did not use for any other holding at the time IVE delisted).

When IVE delisted and Selftrade subsequently introduced inactivity fees I just asked Selftrade to convert my holding into certificated form (which cost me a one-off £10 at the time) and then close my Selftrade account.

So now I have a worthless physical share certificate for IVE/OFSG but at least I don't have to pay any ongoing broker fees.

Can you not ask your broker to have your holding converted into a physical certificate?

[medved5] 10/8/2014 14:23

If they could reverse the dilution I would look into re-investing :-)

[spartan666] 31/7/2014 11:36

Looking back, when this was IVE, I noticed a pic of a drill site on the website which looked like someone's back yard!!! Alarm Bells rung but after research I still invested, I wish I was a Vulcan!!!

[sparty1] 22/7/2014 12:58

well that's three months interest on funds received..if any..