Management Resource Solu... Share Discussion Threads

[gnnmartin] 20/11/2019 12:28

Credit where credit is due: the second EGM was a master stroke.

[pbj] 20/11/2019 10:32

Agree well done to board of directors and their mates zorbas, hogan, grove, etc.

[apfindley] 20/11/2019 07:23

Well done board of directors.

[kinwah] 10/11/2019 07:02

The last update sounds very ominous. If the administrators are recommending liquidation then the businesses are unlikely to be viable. There may be other liabilities like off-balance sheet finance which have been unearthed. Next update will be on Friday after the creditors' meeting unless the plc collapses before then or something turns up out of the blue. Miserable for MRS shareholders.

[dave4545] 09/11/2019 13:26

I cannot believe they are going to get away with this !

I bet if this company was based in the UK they would not even dream of trying to shaft thousands of people out of their hard earned.

You have to wonder why it's even worth investing these days, no wonder 99% now are just holding stocks a few hours or days max.

[kinwah] 21/10/2019 21:49

Everything in today's RNS is a natural consequence of administrators being appointed to the Australian subsidiaries. MRS still has a lifeline if it can offer a better deal for creditors than selling the businesses to the highest bidder. MRS is in this position because of having cash-hungry Aussie subsidiaries supporting a UK plc which can't raise money by issuing shares in a placing. It was asking for trouble.

[yourwrong] 21/10/2019 18:35

This is the END, thanks To the EGMS brigade....shafted!

[gnnmartin] 21/10/2019 17:32

Certainly not looking good. :-(

[yourwrong] 21/10/2019 15:09

Rns out: basically shafted.

[pbj] 06/10/2019 18:07

Obviously your not a genuine shareholder,

[yourwrong] 06/10/2019 14:36

Pbj,
Bend over and feel the pain that you caused to honest investors.
The promoters of the stupid EGzm need to know that disguising between genuine shareholders wasn't a good move after all.
Left with your big boys pants down, well deserved.

[apfindley] 06/10/2019 09:32

Yes and remember when leon was saying to buy at 8p+ and it would be 20p soon, but all the time he was selling and trading his shares without even reporting anything.When the heat started to rise and there was a requirement to confirm his position, he had to buy more shares to make the numbers add up to look like he'd never sold anything.They think everyones stupid.

[pbj] 06/10/2019 09:12

Some people are just plain stupid.
Alerion caused this free shares for mates seriously.

[yourwrong] 06/10/2019 07:51

The Alerion is the past,the suspension is the present. After the first defeat at the EGM, u shouldn't ever have challenge the second time.

u totally f.ck.ed it up.

Bend over and learn the lesson!

[pbj] 05/10/2019 23:56

Of all the aerial survey companies in the world an Australian company buys one based in the UK,yes the UK, owned by persons associated to their chairman and a significant shareholder in the company.

The bod gave away just under 12% of the company yes ...12%....

Where is the drone by the way, if there ever was one, UNBELIEVABLE

[pbj] 05/10/2019 22:41

Everything that has happened was a consequence of the alerion deal face the facts.
Why any genuine shareholder would stick up for these crooks is unbelievable.
Millions of shares for a drone that hasn't done anything, seriously
It was a SCAM to give shares and votes to mates so at the next agm they could allot shares at a discounted price to mates, then ramp the price so said mates could sell without reporting.
Face the real facts and don't be so deluded to think that this was caused by anyone other than the bod.

[yourwrong] 05/10/2019 12:38

Gnmartin is the only one talking sense here.

Those big boys with no trousers are ready to challenge the board but never take responsibility for the consequences.

Suspension, sadly for the honest investors, is what the EGMs supporters deserve. All adamant after the first EGM lost, however Paul Brenton pointed out in the May Rns; so to all the ones that were hiding behind PIs, but in reality were only persevering the interests of ex-direcotors:
Bend over and learn the lesson!

[pbj] 02/10/2019 22:17

gnnmartin for you to say.

I hadn't reckoned on the dubious & vindictive behaviour of the dissident shareholders calling a second EGM. They trashed their own shares, and sadly trashed mine too.

The only dubious and vindictive behaviour was from zorbas, hogan and relatives,
they caused this, they trashed your shares not shareholders that were being conned by the alerion deal.
I really don't understand why some shareholders don't get it, its so obvious, they tried to con us out of millions of shares for some non existing drone company.
As someone pointed out where is the drone, not in australia that's for sure.

[apfindley] 30/9/2019 09:50

But alerion was supposed to save 400k a year according to Hogan. And that saving would be immediate, according to Hogan.The fact is, alerion does not even exist, at all. They bought their kid a little drone for his birthday and so the idea was born.The acquisition was just a way to dilute to take control. The losses incurred which they attribute to shareholders calling egms etc, were infact losses coming from cash payments to the people who compiled the "independent" report into the deal, the individuals who would write it up took large kickbacks to keep quiet and pretend that something did exist.Reality is there is no evidence of the existence of anything of the alerion deal. You ask to see evidence of what alerion is, right now, they wont be able to provide anything.This is all being privately investigated and its shocking what is coming back.

[troutisout] 30/9/2019 07:52

Look at the chart and then realise the share price was trashed on the Alerion news.
Also can you tell us how we could have complained about the Alerion deal beforehand? Did any of us expect such a ridiculous acquisition of an early stage company that needed far more investment to get to fruition. The Company needed all the cash it had to fund the debt, it did not need to have the extra burden of Alerion and that is now very clear......

[gnnmartin] 28/9/2019 10:32

There is no evidence that the Alerion acquisition was a scam. Complaining about it after the deal was done was shutting the stable door after the horse had bolted, and cost the company A$1m.

Good point as to timing. As I acknowledged, the company may be badly run ... I have no opinion on that. I do have an opinion on the futility of squabbling between shareholders. I should have sold when the first EGM was called, but I thought that the company (to misquote Warren Buffet) was one that any fool could run, and it could ride out the squabble. I hadn't reckoned on the dubious & vindictive behaviour of the dissident shareholders calling a second EGM. They trashed their own shares, and sadly trashed mine too.

I'm still holding, though I fear this might now go into a prepack administration.

[apfindley] 27/9/2019 19:14

Yeah the alerion (no cash) deal was the only way they could issue the new shares needed to increase their position so they could then issue shares for real cash afterwards.Even you aren't so naive nigel.Do you really think the SINGLE (not numerous) EGM called within the reporting period cost the company 1.6mill.(Note, the subsequent egm, and the investigations were POST PERIOD costs....and you still dont think these guys are crooks, their lies continue in many instances in this latest rns.