TXO Plc Share Discussion Threads

[temmujin] 06/3/2017 22:48

my spreadbet in TXO finally deleted...what a waste of time that was

[sweet karolina] 06/3/2017 22:19

Initial response from FCA:

"When a consumer contacts us to report concerns, the information is recorded against the firm involved. The supervisory teams can then use this information to understand how the firm is treating their customers and if they're breaching any of our rules which can then be used to form guidance that can be issued to the firm or, if necessary, disciplinary action being taken against them.

I’ll be escalating the issues you've reported to us about The Right Crowd so this is available for our supervisory team to look into and investigate further if need be. Please note however, due to the Financial Services and Markets (FSMA) Act 2000, we’re unable to provide feedback as to what, if any, action will be taken as a result of the information provided to us as this could impact any potential investigation. Thank you for bringing this to our attention though."

Which sounds like the usual FCA fob off.

Hopefully my reply will get a bit more attention:

"Thank you for your response. Could you confirm whether or not an equity crowd funding firm can operate as an appointed representative of an FCA authorised company, as opposed to needing full authorisation in its own right as indicated by the references, and if so what checks need to be carried out either by the FCA or by the authorised company.

The Directors of "The Right Crowd" are:

Thomas Knifton, (son of Leo Knifton - a notorious boiler room scam artist and disqualified as a director.)

Thomas is named here:



And here:



Relating to carbon credit scams.

Thomas' Companies House entries are here:



and here:



and here



and here



The other director is Nigel Weller, who was / is Leo Knifton's right hand man.

His Companies House entries are here:



and here:



I find it hard to believe that had even the most basic checks been done that anyone, without an ulterior motive, would allow these 2 to run an equity crowdfunding firm. Another company is also an appointed representative of Equity for Growth (Securities) named "the Service Crowd":





I recommend FCA also look into whether or not they are suitable. The names Knifton and Weller jumped straight out at me when I looked at who was running the right crowd, but none of the names of those running service crowd are so infamous.

I will hold off on the feed back until I hear back from this e-mail.

[sweet karolina] 02/3/2017 15:02

As far as I can tell investment and loan crowdfunders must have full FCA authorisation in their own right:



Whilst there are several forms of crowdfunding, the FCA regulates two types of crowdfunding:
 
loan-based crowdfunding: this is where consumers lend money in return for interest payments and a repayment of capital over time[1]. This is debt crowdfunding.
 
investment-based crowdfunding: consumers invest directly or indirectly in new or established businesses by buying investments such as shares or debentures[2]. This is equity crowdfunding.
 
In order to do either of the above, you will need to be authorised by the FCA.



As mentioned above, investment-based crowdfunding already fell within the scope of FCA regulation prior to the introduction of the new rules in April 2014. The authorisations generally required for a platform provider operating the investment-based model are ’arranging deals in investments’ pursuant to article 25 RAO and holding client money pursuant to article 40 RAO and as referred to in the loan-based crowdfunding section above.

Those firms entering the market after 1 April 2014 are required to seek full FCA authorisation from the start.

So looking pretty bad for the right crowd and the FCA authorised company that appointed them. no wonder Tim is desperately spamming this board

"The Right Crowd Limited (FRN:685028) is an Appointed Representative of Equity for Growth (Securities) Limited (FRN:475953) who are authorised and regulated by the Financial Conduct Authority."



I will confirm all this with the FCA when they get back to me.

Whether the FCA actually bother to do anything about it is another matter.

[sweet karolina] 02/3/2017 14:01

The carbon credits scam is prominently featured on the FCA website. I doubt FCA would authorise anyone previously involved in such a scam, hence why they are using another FCA authorised intermediary, hence the link to Equity for Growth. When FCA get back to me (2 working days promised) I will try to find out whether other FCA authorised companies have appointed them or whether it is just EfG. Obviously it would be far less of a concern if multiple FCA authorised companies had checked them out, but it is hard to see why an FCA authorised company would appoint them as representatives having checked them out. It is the FCA authorised company that becomes responsible for any wrong doing so even if Tom and Nige have turned over a new leaf why take the risk?

[sweet karolina] 02/3/2017 13:36

I would like to make it clear that at the moment I have no evidence of any wrong doing at the right crowd or by those who are or have used them to raise money. However given the characters involved, people should do thorough research before investing.

The right crowd website:



Thomas Knifton's multiple CH entries:







Nigel Weller's multiple CH entires:





The right crowd is an appointed representative so need a fully authorised FCA company like Equity for Growth to appoint them. I have some enquires in with the FCA to clarify this.

[sweet karolina] 01/3/2017 23:19

Hooray Tim is out spamming again.

Tim did you know that the people behind the right crowd which your firm Equity for Growth (Securities) appointed for this fund raise are Tom Knifton and Nigel Weller?

Interesting article:

[sweet karolina] 01/3/2017 17:38

Look what Tim is up to now:



Tim Baldwin– Chairman. Tim is an investment analyst, authorised by the FCA who has worked for a number of banks including Investec.

Strange no mention of all the AIM disasters he drove into the ground. But I guess it helps when your brother in law is the MD.

Greg Blessson (sic)–Managing Director. They cannot even spell his name right - must be good stuff this brewery makes.

Trying to raise £1.5M according to the document, but the crowd funding site says £1m. Only raised just under £60k so far so please all sign up to invest in another Tim Baldwin disaster story waiting to happen

[sweet karolina] 21/1/2017 17:57

Hooray!

Tim is still reading my posts, now stop wasting time spamming the thread and get the annual report out. I am sure Karolina will be a great help to you in doing that now she is on the board.

[lofuw] 21/1/2017 17:20

OPEC To Meet In Vienna This Weekend For Oil Cut Compliance

By Damir Kaletovic - Jan 20, 2017, 6:30 PM CST
Offshore platform
This weekend the representatives of OPEC and several other major oil producers outside of this group, including Russia, are meeting in Vienna for their first meeting to monitor compliance with the oil output cut agreement.

The meeting will establish a compliance mechanism to verify that producers are sticking to a deal to reduce output by 1.8 million barrels per day, said OPEC's Secretary General Mohammed Barkindo.

Their plan is to figure out how to confirm that all 24 signatories of this historic deal are keeping to their pledges to reduce output and keep the agreed on amount of supply off the market for six months.

OPEC is keen to demonstrate that it has shed its hard-earned reputation for cheating, and that the group is serious about tackling the supply glut and lifting oil prices.

OPEC’s agreement to reduce output in tandem with non-OPEC Russia and several other producers in December was the first such move in 15 years.

"I have no doubts in Russia's commitment to continue to participate with us and solidify this platform effectively establishing a stabilizing forum for the short, mid and long-term," Barkindo said.

International oil prices rose to an 18-month high of more than US$58 a barrel after the OPEC and several non-members agreed on December 10 to end two years of unfettered production and instead cut output. Crude has since slid back down some 5 percent as speculators are concerned that commitments will not be met.

Related: Oil Slides After Massive Rig Count Gain

In December, OPEC’s production fell by 220,900 barrels a day to 33.085 million barrels a day, with the biggest drops coming from Saudi Arabia and Nigeria, according to secondary source data in the group’s monthly report published on 18 January.

The organization agreed to reduce its output to 32.5 million barrels a day, although that total included about 740,000 barrels a day of output from former member Indonesia.

Russia has pumped an average of 11.1 million barrels a day so far in January—108,000 barrels a day less than official government figures for November and December, according to initial data from the Energy Ministry, compiled by Bloomberg. Russia agreed to cut 300,000 barrels a day by April or May.

OPEC will meet in May to decide whether to propose to extend the output cutting measures together with non-OPEC countries.

[lofuw] 21/1/2017 17:20

OPEC To Meet In Vienna This Weekend For Oil Cut Compliance

By Damir Kaletovic - Jan 20, 2017, 6:30 PM CST
Offshore platform
This weekend the representatives of OPEC and several other major oil producers outside of this group, including Russia, are meeting in Vienna for their first meeting to monitor compliance with the oil output cut agreement.

The meeting will establish a compliance mechanism to verify that producers are sticking to a deal to reduce output by 1.8 million barrels per day, said OPEC's Secretary General Mohammed Barkindo.

Their plan is to figure out how to confirm that all 24 signatories of this historic deal are keeping to their pledges to reduce output and keep the agreed on amount of supply off the market for six months.

OPEC is keen to demonstrate that it has shed its hard-earned reputation for cheating, and that the group is serious about tackling the supply glut and lifting oil prices.

OPEC’s agreement to reduce output in tandem with non-OPEC Russia and several other producers in December was the first such move in 15 years.

"I have no doubts in Russia's commitment to continue to participate with us and solidify this platform effectively establishing a stabilizing forum for the short, mid and long-term," Barkindo said.

International oil prices rose to an 18-month high of more than US$58 a barrel after the OPEC and several non-members agreed on December 10 to end two years of unfettered production and instead cut output. Crude has since slid back down some 5 percent as speculators are concerned that commitments will not be met.

Related: Oil Slides After Massive Rig Count Gain

In December, OPEC’s production fell by 220,900 barrels a day to 33.085 million barrels a day, with the biggest drops coming from Saudi Arabia and Nigeria, according to secondary source data in the group’s monthly report published on 18 January.

The organization agreed to reduce its output to 32.5 million barrels a day, although that total included about 740,000 barrels a day of output from former member Indonesia.

Russia has pumped an average of 11.1 million barrels a day so far in January—108,000 barrels a day less than official government figures for November and December, according to initial data from the Energy Ministry, compiled by Bloomberg. Russia agreed to cut 300,000 barrels a day by April or May.

OPEC will meet in May to decide whether to propose to extend the output cutting measures together with non-OPEC countries.

[lofuw] 21/1/2017 17:19

OPEC To Meet In Vienna This Weekend For Oil Cut Compliance

By Damir Kaletovic - Jan 20, 2017, 6:30 PM CST
Offshore platform
This weekend the representatives of OPEC and several other major oil producers outside of this group, including Russia, are meeting in Vienna for their first meeting to monitor compliance with the oil output cut agreement.

The meeting will establish a compliance mechanism to verify that producers are sticking to a deal to reduce output by 1.8 million barrels per day, said OPEC's Secretary General Mohammed Barkindo.

Their plan is to figure out how to confirm that all 24 signatories of this historic deal are keeping to their pledges to reduce output and keep the agreed on amount of supply off the market for six months.

OPEC is keen to demonstrate that it has shed its hard-earned reputation for cheating, and that the group is serious about tackling the supply glut and lifting oil prices.

OPEC’s agreement to reduce output in tandem with non-OPEC Russia and several other producers in December was the first such move in 15 years.

"I have no doubts in Russia's commitment to continue to participate with us and solidify this platform effectively establishing a stabilizing forum for the short, mid and long-term," Barkindo said.

International oil prices rose to an 18-month high of more than US$58 a barrel after the OPEC and several non-members agreed on December 10 to end two years of unfettered production and instead cut output. Crude has since slid back down some 5 percent as speculators are concerned that commitments will not be met.

Related: Oil Slides After Massive Rig Count Gain

In December, OPEC’s production fell by 220,900 barrels a day to 33.085 million barrels a day, with the biggest drops coming from Saudi Arabia and Nigeria, according to secondary source data in the group’s monthly report published on 18 January.

The organization agreed to reduce its output to 32.5 million barrels a day, although that total included about 740,000 barrels a day of output from former member Indonesia.

Russia has pumped an average of 11.1 million barrels a day so far in January—108,000 barrels a day less than official government figures for November and December, according to initial data from the Energy Ministry, compiled by Bloomberg. Russia agreed to cut 300,000 barrels a day by April or May.

OPEC will meet in May to decide whether to propose to extend the output cutting measures together with non-OPEC countries.

[lofuw] 21/1/2017 17:19

OPEC To Meet In Vienna This Weekend For Oil Cut Compliance

By Damir Kaletovic - Jan 20, 2017, 6:30 PM CST
Offshore platform
This weekend the representatives of OPEC and several other major oil producers outside of this group, including Russia, are meeting in Vienna for their first meeting to monitor compliance with the oil output cut agreement.

The meeting will establish a compliance mechanism to verify that producers are sticking to a deal to reduce output by 1.8 million barrels per day, said OPEC's Secretary General Mohammed Barkindo.

Their plan is to figure out how to confirm that all 24 signatories of this historic deal are keeping to their pledges to reduce output and keep the agreed on amount of supply off the market for six months.

OPEC is keen to demonstrate that it has shed its hard-earned reputation for cheating, and that the group is serious about tackling the supply glut and lifting oil prices.

OPEC’s agreement to reduce output in tandem with non-OPEC Russia and several other producers in December was the first such move in 15 years.

"I have no doubts in Russia's commitment to continue to participate with us and solidify this platform effectively establishing a stabilizing forum for the short, mid and long-term," Barkindo said.

International oil prices rose to an 18-month high of more than US$58 a barrel after the OPEC and several non-members agreed on December 10 to end two years of unfettered production and instead cut output. Crude has since slid back down some 5 percent as speculators are concerned that commitments will not be met.

Related: Oil Slides After Massive Rig Count Gain

In December, OPEC’s production fell by 220,900 barrels a day to 33.085 million barrels a day, with the biggest drops coming from Saudi Arabia and Nigeria, according to secondary source data in the group’s monthly report published on 18 January.

The organization agreed to reduce its output to 32.5 million barrels a day, although that total included about 740,000 barrels a day of output from former member Indonesia.

Russia has pumped an average of 11.1 million barrels a day so far in January—108,000 barrels a day less than official government figures for November and December, according to initial data from the Energy Ministry, compiled by Bloomberg. Russia agreed to cut 300,000 barrels a day by April or May.

OPEC will meet in May to decide whether to propose to extend the output cutting measures together with non-OPEC countries.

[sweet karolina] 21/1/2017 08:51

I see Tim has appointed his girlfriend as a director of CTA. A promotion from sending out e-mails on his behalf with inside info to non insiders trying to convince them to take part in fundraises with the line that the fundraise is already subscribed but if you let Tim know quickly he will still get you in. The salary may not be what she is used to though as she used to get £40k pa in the heyday when there was plenty of shareholders' cash to throw around for doing nothing.

At least the Annual Return has finally been filed - only 6 months late, just the Annual Report for the 18 months to 31 Mar 16 to do now. Only 4 months late with that one. Seeing as the Annual Report to 30 Sep 14 (released nearly 6 months late in Sep 15) is still under investigation by ICAEW, we may have a while longer to wait for the next instalment if indeed we ever see it.

I am expecting an update from ICAEW very soon on how their investigation is going. They are good, they do look into things thoroughly, but they move at the pace of a comatose 3 toed sloth.

Just over a year ago, In a desperate attempt to get trapped investors to exercise warrants, Tim said GBG had secured a lease on the land they needed for the plant and had finance sorted and the long awaited plant was expected to be operational in 2016. Well it is 2017 now and I can't find anything that says work has even started - no great surprises. However £14,837 warrants were exercised shortly before the company gave up all pretence of ever getting a listing and became a private company. Perhaps, had the accounts not been a complete work of fiction the mugs who fell for that trick would have not been so keen to part with more of their money.

Cleaner Fuels do not seem to have done the placing that Tim was trying to get trapped TXO/CTA holders to subscribe to - he did say it was already covered by other investors, but we know that is one of his standard lies. It does look like the mug punters are finally wising up.

At Marine Oil recycling there seems to have been a bit of a boardroom coup. First of all the other 2 directors resigned leaving Tim on his own, then Tim resigned with the other 2 coming back. There were no free shares for trapped holders in the end for this one.

[sweet karolina] 13/11/2016 21:32

Howesp,

All the money has gone! Investors will never see a penny. TB has walked away from so many similar situations only to start the whole charade going all over again. I made a promise to a dying colleague to do all I could to prevent TB ripping off a whole new set of PIs and I intend to keep that promise. There is no need for others to join this crusade, but if I fail and he does come crawling back onto AIM then I hope I can count on the support of investors who lost money here and in his other train wrecks. A significant number of those train wrecks employed the same auditors, who clearly turned a blind eye to what was going on. I hope to have some good news from ICAEW in the new year that means that TB will have trouble finding another pliant auditor, which in turn will make it very difficult to come back.

He was clearly hoping to suck trapped TXO investors into putting money into Cleaner Fuels and Marine Oil Recycling - both Ltd companies which cannot get a listing. It looks like he has given up on the Marine Oil Recycling scam and it does not look like his plans for Cleaner Fuels are going the way he hoped. However I will be keeping my eye on it.

[howesp] 13/11/2016 16:25

If you (the people out there) are seriously trying to get something done by the authorities, then everyone should be doing their bit to help in this crusade. Personally and regretfully I think everyone is wasting their time, as I am sure TB has already got his hands on any money available and we will just be left "blowing in the wind". But I wish you well!!