Had a feeling it might be. Thanks for the info. You live near that area, I suppose?
Something that occurred to me is that Lumb could have already been running up 'setting up', and 'adminstrative' costs on his financial venture that will soak up the profit he will get from the sale of the mines.
In other words - spending the money (as in salting it away) before he gets it so that he can declare insolvency. If he had deals 'near completion' with solid companies, he could probably get bank loans on the strength.
All this benign concern for the shareholders would be just to make it all look genuine. His advisers would have told him that what he was trying to do in his manner of transfer was unusual, and that it would cause delays and confusion.
And, so far, my business psychology knowledge tells me that
his website effort for the Unitrust Card is a non-starter.
I would want to see some more evidence on how he is going to attract business.
There is nothing, so far, that shows me it can attract customers - any, never mind enough. It will need a lot of expensive advertising and promotion - and this takes money.
All this, I agree, so far is supposition, This is just another 'option' I have thought of that he could be working.
If, and when, those eligible get their promised shares, it will look a little more positive. So, let us know any of you that receive them, because once you get them that will mean any benifits that accrue from any sale, you will receive to the proportion of your shares.
