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With the Smart Win application for a summary judgement scheduled for hearing on 30 October it will be interesting to see Tim Baldwin's response to EEGC losing if (when?) that happens. He has been so keen to relay Paul Batista's highly partial speculations on the likely outcome that he will no doubt want to correct his earlier pronouncements and promptly inform TXO shareholders of a disappointing result. Or will he? At least a "clarification" should be in order as when he had erroneously declared the GSLM exploration licence had been renewed.
It's a very comprehensive and extremely well informed roundup of TXO's failures and misdemeanours, obviously sourced from someone who is well on top of the Tim Baldwin merry-go-round.
Tim Baldwin is no better than a leech sucking on trusting shareholders. It is extraordinary that the rogue is able to continue on the way he does without the authorities putting a stop to his depradations.
East African Oil Company: No Money going nowhere 50% owned by TXO thanks to Tim pumping in £50k of TXO cash to enable EAOC to pay him £11.5K in directors fees.
Equity For Growth (Securities): Cash of £670 at last report, current annual report and return well overdue: Heading for administration most likely (It is very bad form for an FCA registered company to not file on time)
TXO - nuff said
Gbin Ltd: In liquidation
Alpha Prospects: Listed on some bizarre European exchange, totally illiquid - the company that was protected by TXO not calling in the TOG loan / taking over 99% of TOG when the loan went overdue.
Clarendon Equity - Set up just over a year ago - no cash done nothing.
Shareholders who voted at the GM have given approval for the issue of 1.5 Bn shares. With about 750M in issue at the moment that works out as 2 thirds of the enlarged share capital.
The latest convertible deal has a MAX conversion price of 0.16p - there is no minimum, as we saw with the Bergen deal the nominal of 0.1p was not a barrier to conversion, the conversion occurred at 0.1p and then a load of "fee" shares were issued to bring the average price down to 90% of 3 day VWAP. The latest deal gives a 20% discount on the price, so even worse than the Bergen deal. Bergen will be converting and dumping more next year, once they have dumped what they already have.
Has anyone managed to find anything that corroborates OTR actually existing (I am sure it does on paper somewhere) or this wonder technology actually existing?
Says it is a US company no details of anyone involved (Why do TXO not say who the other parties in the OTR JV are or who is running it or even where the company is incorporated)
Respect is earned and does not come with a title or a position. Paul's behaviour is little better than low life Howie's. It beats me how Paul can have any self respect, let alone expect anyone else to respect him.
Anyway I did show concern for his injured knee, what more sympathy do you think I should afford him?
I say DS, isn't your tone a little disrespectful to the world's greatest living lawyer (licence intacta), part-time celebrity, TV host, actor and author? You guys might have beaten off the latest challenge from Scotland but it's a bit late in the day to re-open the American War of Independence. They were wrong to refuse to pay their taxes and to call George III mad but Great Britain has already got back at them in other ways like the oil spill in the Gulf of Mexico and giving them Bob Hope.
What planet are Northland on? Tim Baldwin used to be a director of TOG until very recently, no doubt the reason for his resignation was so he would not be named here. The real conflict of interest though is the Alpha Prospects stake in TOG and the Alpha prospects shares held by TOG as a paper swap to get that stake. Both Tim Baldwin and Chris Foster are major shareholders and directors of Alpha.
Chris Foster told me at the AGM that he had flown to the US at his own expense to consult with Paul Batista and been told that the Smart Win people would not turn up for their depositions as they would be arrested and EEGC and TOG who have 50% interest in the case would win by default. What a dumb move by Chris, he could have saved the air fare and just read the EEGC board to get that lie.
Thanks pitts, yarsan, frankie - the lengths we go to to get the truth out there!
It will be interesting to see if we can post links to messages here back over on UK boards with nothing more than interesting post: and see if they still get deleted. The problem with UK advfn is they just delete if anyone complains they apply no discretion what so ever. Ihub has it quirks but at least the rules are clear and if you stick to them freedom of speech is allowed.
Wow. The wheels are coming off at TXO. Looks like Bergen shut down the previous money pipeline? And wasn't GBG supposed to be cash flow positive and generating dividend income back to TXO by now? Instead.. the cash and shares are flowing the other way???