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Started: Packbacker, 28 Jun 2018 22:52
Last post: catsize, 18 Aug 2018 12:26
correction
sale was completed before liquidators were appointed
page 2 assets from letter 20180815 ref L/30/cej/ser02/1100
cat
seems our liquidator has sold the company for 20 grand
net £16,508
so there might be about 5 grand left for a party
sounds fishy to me
what are cascade doing
atb cat
will be interesting to found out if this was a scam from the very beginning
Bye bye, yes we PIs lose the lot again....... disgraceful
Started: morris8687, 14 Jun 2018 10:50
Last post: morris8687, 14 Jun 2018 10:50
I actually feel robbed. Where did the Cascade investment go? Can you actually contact anybody who can at least explain where it was invested?
Started: morris8687, 5 Jun 2018 16:15
Last post: DyamFoolMan, 12 Jun 2018 01:35
I'd say so, looks bleak here and they've even stopped updating their website with regulatory news since Feb.
we have lost our money? Another share were I followed the hype of the estimated value of technology and invested in line with Cascades investment
Started: morris8687, 29 May 2018 09:23
Last post: Ihadanideaonce, 5 Jun 2018 13:03
This feels like defeat from the jaws of victory. When the Cascade funding was announced, it was stated that some of the money would be used to repay debt. If that had been done, this would not be happening. Because they didn't do what they said they would- in an RNS- is there any legal standing?
Seriously, where did all the money go for this company to be in this situation? It looks like our investment tis now worthless.
Started: adbon71, 24 May 2018 20:32
Last post: Wassatt, 25 May 2018 15:47
No, it's not
Showing on Google?
Our money has gone
Further to the announcement released by the Company on 27 April 2018 the Company announces that the Court has agreed to extend the creditor protection period for SerVision Limited to 31 May 2018. This extension to the protection period follows a request being submitted by the Trustees to the Court and has been put in place to help facilitate the completion of the sale of SerVision Limited to a third party buyer. The Board understands that a meeting of creditors of SerVision Limited has been convened for 28 May 2018.
Change of date 31st May
Started: morris8687, 20 Apr 2018 10:31
Last post: morris8687, 20 Apr 2018 10:31
It must be dead
Started: morris8687, 18 Apr 2018 09:15
Last post: morris8687, 18 Apr 2018 09:15
Are we pretty much done here then?
Started: hereandnow, 14 Mar 2018 17:02
Last post: notsure, 30 Mar 2018 21:33
here and now - do you happen to know if this can be done if the shares are held in an ISA
yup f all expected otherwise royal shafting
Put the losses against gains on your tax forms. It is the only positive share holders will take out of this disaster.
Started: 2seabass, 27 Mar 2018 10:02
Last post: Ihadanideaonce, 27 Mar 2018 15:52
2seabass I agree with you, its a clever scam. They played it well.
What does GT get out of it? He's a shareholder.
For SEV to have ended up in this position I believe is a complete scam. With all the noise about Mobileye etc etc, I reckon Cascade's terms of investment was deliberately set up for this end game scenario - going cheap as chips.
Last post: Ihadanideaonce, 14 Mar 2018 15:55
If Cascade somehow see it worthwhile taking up some of their options, the LOL is back on. Hard to see that happening at the moment, though.
I'm not sure how you can stay positive, It's either going under or a massive share issue
At least Cascade are still around and might lend some cash. Hopefully they are relying on what they have seen and not throwing good money after bad.
Started: GodWilling, 14 Mar 2018 10:16
Last post: GodWilling, 14 Mar 2018 10:16
before the share was suspended, in 70% loss, glad it was only a small amount of money. Cant see this getting to double digits or anything positive happening. Will monitor this every now and then to see how it comes along. GL to all the holders!
Started: Starvinmarvin, 23 Feb 2018 14:42
Last post: Starvinmarvin, 23 Feb 2018 14:42
nope and I'm not too keen on investing in start ups in that region after this ... seem to be the shady sort !
Perhaps not a good time to ask but are there any posters here familiar with Siyata Mobile Inc? They are an Israeli developer and provider of vehicle mounted communications platform over mobile networks. The Company's products include Truckfone, Voyager and Bagfone. They made the TSX-V top 50 list but the sp is down quite a bit since July - perhaps an opportunity. I've checked in on this discussion board periodically since last summer, even posting a couple of times, so I'll understand if I'm told to ****-off, but you chaps are very knowledgeable about the industry. In appreciation may I suggest a look at Eco Oil & Gas, ticker ECO on AIM - there is plenty of steam left in this one
Started: profitissanity, 6 Dec 2017 17:08
Last post: Ihadanideaonce, 21 Feb 2018 20:59
Crooked? :) GT and Gabriel Sasson stand to lose most from a lowball bid because Cascade must get paid first. (obviously normal SH too...but since when did they/we/etc matter?) As an admission of poor performance, I think GT should pay for any shortfall out of his holding to leave as much as possible for SH distribution... but....well.... I don't see that happening! For someone with a decent vested interest, GT has been doing surprisingly badly. I've upped my idea to $25M+ My maths and magin were a bit off :p
going to be a long time suspended ...6 months is the max I think ...dirty bid before September all seems a little crooked
Placing makes a double dilution as Cascade get additional shares as well. I still think that there are plenty of prospects with this Company. I just wish I was buying in now rather than when I did. I might have originally bought in on the back of the Cascade deal but further research does keep me confident, with or without Mobileye but especially with it.
Think there will be a placing...new year unless big co tracts comes along....they only had a limited fund from the last rns so ..very disappointing
ouch! Was hoping this would have some recovery by the end of the year, still hopeful for some news in the next few weeks!
Started: PK_Returns, 20 Feb 2018 22:28
Last post: PK_Returns, 20 Feb 2018 22:28
We are better if being suspended at least thst way no more damage can be done to the sp. Glad i only held a small amount here. Sorry if you lost lot more. Gl pk
Started: morris8687, 20 Feb 2018 21:49
Last post: morris8687, 20 Feb 2018 21:49
I'd love to know where the cascade funds even went
They had to suspend on that rns info, would have seen a complete sell off. Sadly looks like sevs days maybe numbered unless they get authority to reduce nominal value from share holders, that will then allow death spiral funding and confetti issue of shares. Sad to see but Gideons has been misleading punters for years. I fell for it in 2014 before i realised it was all complete bullshit. Take a look at his proactive interviews around 2013-14 none of the discussed deals he talked about ever came through.
Started: profitissanity, 20 Feb 2018 13:44
Last post: profitissanity, 20 Feb 2018 13:44
STILL want to know precisely why Cascade invested. Can't believe that it was a scam. Will see what is released prior to suspension being lifted. GLA holding here, Cheers
Last post: Ihadanideaonce, 20 Feb 2018 12:41
I'd rather see the IP sold to Mobileye or Intel for $20M. Way less than I was hoping for, but enough for everyone to walk away with a profit and the sweat wiped off their brow. We might be on a path to finding out what SEV's compression tech REALLY means to Mobileye....
Looks like at least a month in suspension then. If we need a company resolution to reorganise the shares.
I don't think you can make a comment like that literally minutes after mentioning Cascade ;)
Could be an issue. We can't issue any new shares below the Nominal Value of the shares which is 1p and who would want to pay a premium?
Started: adbon71, 20 Feb 2018 12:18
Last post: adbon71, 20 Feb 2018 12:18
As announced on 13 February 2018, the Company was required to raise further finance in the near term or face having to convert some of the existing debt into equity. Unfortunately, the positive conversations regarding a loan and equity investment that were ongoing at that time have not yet concluded. The Company was not able to convert some of the existing debt into equity as the conversion price is below the nominal value of the Company's shares and therefore a shareholder meeting would be required to approve a capital reorganisation and also due to the Company's financial position, it would not be in the best interests of the creditor. Whilst those and other conversations are continuing as the Board takes advice on the options available to the Company, there is currently no immediate prospect of any new capital. Since the Company is currently in default on at least one of its loans and any refinancing will take some time and will require the agreement of the Company's lenders, the Company has requested an immediate suspension to the trading on AIM of its shares pending clarification of its financial position
Started: greendave66, 20 Feb 2018 12:17
Last post: greendave66, 20 Feb 2018 12:17
Cascade taken in and along with all PIs that have lost money. What exactly was going on when cascade paid 11p a share as everything must have looked incredible to pay such a premium. Someone has been telling porkies. Another nail in the coffin for AIM....it’s getting ridiculous.......and out of control. Lies and deceit everywhere.......
Started: Thorpedo, 20 Feb 2018 10:30
Last post: Ihadanideaonce, 20 Feb 2018 11:03
Doesn't sound good- but it is textbook wording, which I am seeking solace in. Extra Cascade shares don't really bother me, as they're sticky.
I hope you're right, RNS sounded a bit sinister to me :-(
Must be re funding so hopefully great news.
Started: Thorpedo, 20 Feb 2018 10:59
Last post: Thorpedo, 20 Feb 2018 10:59
Could be the downfall. Any new issue would mean a further issue to them. Double dilution.