Wandisco Share Discussion Threads

[kemche] 09/3/2023 09:32

Richards said "I can scarcely believe that we have signed $400 trillion of business with 6500 companies!"

[mortal1ty] 09/3/2023 09:31

I'm guessing the sales contact registered the sale through a fake distributor. Easier to fake invoices through distributor. Gets his mate to run the distributor. Maybe gets paid 5pc commission upfront. Clears a million quid and runs off.

[itscominghome] 09/3/2023 09:25

Sorry to all holders but you wont see a penny here they wont ever come back

[owenski] 09/3/2023 09:23

Eric fatso Millar needs to get the boot too, he's enjoyed overfeeding at the WAND trough for long enough.

[fuji99] 09/3/2023 09:22

I quote orange1 post that says it all: "This is what the CEO said on 19 January 2023:

David Richards, CEO and co-founder of WANDisco

Richards, who calls the numbers “ridiculous,” is flabbergasted at the amount of business WANDisco is suddenly generating.

“It is bonkers what is going on right now with our company. I’ve never seen anything like it,” he says. “It was always sort of, this was what we said was going to happen. When it actually happens, you have to have the numbers to back it up.”

So the numbers were ridiculous and left him flabbergasted. Now he says they were too good to be true and plain wrong. Surely his position is untenable."

[owenski] 09/3/2023 09:20

It's actually unbelievable and shows industrial scale naivety or something bordering criminal incompetence. Richards will have to go.

[joinednow] 09/3/2023 09:20

Oh dear Scrutable - you buyin’?

[spectoacc] 09/3/2023 09:20

AIM, where your money goes to die.

[waterloo01] 09/3/2023 09:10

I've heard and come across sales people who inflate their numbers, even one who would put through a false order, but o this scale? Did they never speak to clients? It would have been obvious pretty quickly if they did.

[kemche] 09/3/2023 09:08

It's a flustercuck - many asleep at the wheel. Or even complicit?

[johneee] 09/3/2023 09:05

LIberium is to blame here

LIberium give their assurance of the company and targets

LIberium must have done their own research or do they just toss a coin???

[loafofbread] 09/3/2023 09:04

Torex Retail was a good one.

[kemche] 09/3/2023 08:54

Very much like VRS.

[stallone10] 09/3/2023 08:43

Yes Baltimore comes to mind

[tickboo] 09/3/2023 08:35

Yep I sold here a good while ago and made a decent return and was looking in here regretfully. I feel really bad for holders and cannot believe it has taken the audit to uncover the scam. Absolutely shocking internal processes etc.

[itscominghome] 09/3/2023 08:30

These won't be back ... ever

[fuji99] 09/3/2023 08:30

I feel sorry for all those lured innocent investors. Crooks in action from £2 to intraday £14 at one point. Reminds me of Baltimore for those who can remember and NMC a few years ago. Crooks exist in every segment of life nowadays since they invented "fake news".

[kemche] 09/3/2023 08:28

£863m mkt cap?????

What a lark!

[kemche] 09/3/2023 08:27

Wow! Could smell the dodge but still wow!

Did no one phone the clients? Were they all a figment of the salesman's imagination? What were the CEO and CFO doing?

[qs99] 09/3/2023 08:15

£860m market cap for a business that was saying it would make <£20m sales (before today)?

Why would LIberium take on joint broker of this?

CEO/Chairman same bloke is a big red flag IMO, look at mess at ARB

[bookbroker] 09/3/2023 08:12

Can’t imagine the Welsh farmer being too happy!

[mortal1ty] 09/3/2023 08:11

Don't own this. Good to learn lessons though.

Warning flag 1: lots of recievable growth but no cash impact.

Warning flag 2: ceo and the chairman are the same person... sorry I mean idiot.

Warning flag 3: head of audit on the board left with immediate effect 6 months ago. Its the immediate effect that makes it worse. He wanted out.

Warning flag 4: I work as a software developer. Frankly the idea that the global tech companies can't handle huge data transfers is ridiculous.