Where did the money from all the various raisings go to? CVI...

Where did the money from all the various raisings go to?



CVI would have you believe it has all been used efficiently in building a business with real West African projects. Most here bought shares on that basis.



If you don’t go with that, then is it;



1 – The money has been mostly recycled through overseas entities into the pockets of the promoters.

2 – The money has been naively spent largely in Angola and been taken by unknown parties there.

3 – The company has been wasting the money on pipe-dreams that keep not coming off.



I don’t think its 3 some how.



I would suggest that any EGM call for a forensic accounting exercise to be carried out to identify the money trail and timing of previous raisings. Without that its nearly impossible to know what you’re really dealing with. A badly run real company. A total sham. Or a lot of bad luck



If indeed the money has been dealt with in a cynical way, there could well be a case to pursue for shareholder losses. I would join that one. Oh yes you’d think its near impossible to claw back overseas funds when you don’t know where they are, but it’s amazing what mischievous people will do to keep there freedom when they are presented with the grim alternative. This has worked successfully before.



Raks – All the best..