Gazelle13I picked them all up on their last day of trading....

Gazelle13

I picked them all up on their last day of trading. Thinking, what a bargain @ .009c. Just my luck. lol. And these are the risks people like me are willing to take. Thank God for diversity. And yes I did have a good year trading
sorry for the delay to post but this is what i found.
Yes, I did ring the administrators not the company. I spoke to Tom
Their first loyalties lie with themselves (getting paid), then it’s the creditors, last of all is the shareholders.
They’re not going to tell me too much because they could say something that could put them into hot water.
Yes they did tell me that the shops are open for trade and they’re in the process of selling them with several interested parties, kicking the tyres. They couldn’t tell me if the shops were making a profitable turnover as they are still doing the sums. The administrators are liable for any losses made by the company shops whilst retailing in their control.
Offers for the company are being accepted by the 5th July
They are to hold a meeting with the creditors at the end of July early August, to determine the maximum return for all stakeholders. Until then I believe nothing more will be known.

I asked, if they were in contact with the directors. Tom said they only do so when there is need to.
I asked about Joe Ferone, he said that he’s bankrupt and before they took control.
Also part of their report. They will investigate into the history of the company looking for any breaches of the act.
I asked Tom, how was it possible that the company re-listed and traded for 23 days while insolvent? He said that they are still carrying out their investigations.
I asked, how are they going to announce their findings. He said, they will contact all interested parties via the post.

Tom said, that if creditors or shareholders would like the administrators to investigate something specific or if anyone has any information that they may not have already. That they should put in writing so as to give them something else to look at.

There will be an administrator update going out to all interested parties at the end of July. It will cover the trading, the sale process, and the negotiations.

I hope this update helps.

I hold because I have to