Teleconnect (TLCO)

[adijas]

TLCO, OS 10 million, float 140k. Court ruled in favor of company, estimated value 50 - 150 million

Here is the story. TCLO is Ageviewers, a Dutch company (I'm Dutch too, so I follwed this one closely). Ageviewers is a system to control someones age. In the Netherlands it is forbidden to sell alcohol and tabacco to people < 18. Ageviewers is the only system that works very good, which means it succeeds 96%. That costs the retailers a lot of money. Instead they want the cashiers to check the age (52% succes). All retailers (4000 shops) are organised in a branch organisation. Ageviewers claims this organisation boycot Ageviewers, but in doing that they are going against the law on fair competition. Because of that the company lost millions. They stopped operations in september and went to court. March 9th court ruled in Ageviewers favor and the branche should pay the damage since 2008 + interest. The exact amount will be decided in a new court case. CEO was cited in a financial newspaper that damage is 10s of millions (euros), but in a radio broadcast he talked about 100-150 million (if they get 50 million, that means 5 dollar a share!).

I contacted CEO and asked if they will restart business and if he will inform international shareholders through a PR on OTC-markets (they only PR'd this in Dutch, where they appealed to companies like Philip Morris, Heineken and Bacardi to introduce Ageviewers internationally). He told me they are considering both and will decide about it soon.