Dont let anyone blame you or other 'shareholders' for the price dropping. Remember it dropped from over 3 euros a share to 4 cents a share before there was any mention of it here. Dropping another 2 cents after the thread started is hardly evidence of 'professional deramping' as Oldoneleg once alleged.
Dont let anyone blame you or other 'shareholders' for the price dropping. Remember it dropped from over 3 euros a share to 4 cents a share before there was any mention of it here. Dropping another 2 cents after the thread started is hardly evidence of 'professional deramping' as Oldoneleg once alleged.
Hi PBOYLES
Well here's what I have and how it has been explained to me, your help to decipher it would be appreciated;
1) The UK register is still being completed and once this is done needs confirmation from SOM Directors that it is correct. I do have an e-mail confirmation from a director stating my share allocation. 2) Once the register is complete this will then be past to the nominee companies, filed as the share holders with CH. They will then inform Postbank to transfer the shares to our brokerage accounts.
3) Postbank will then carry out the required transfer after contacting our Brokers.
4) From this point on all share transaction will go through CREST and Computershare as registrar will automatically be updated. I have contacted Computershare asking a few simple questions, but as yet do not have a reply!
Does all that make sense?
Also thanks for the support on the share price comment.
Cheers
Mugs
Computershare are a genuine FSA registered company, I would concentrate on getting information from them as it is likely to be reliable. Don't be afraid to keep pushing them. Everything else you've been told by SOM or ALV Group as regards the shareholder register is probably just part of the smokescreen. You should be able to obtain a complete copy of the shareholders register from Computershare with all shareholders listed on it. Why don't you start calling them and get things moving?
Mugs,
From Computershare the procedure is to call them, go through their security procedure and then ask to confirm that you are a registered shareholder. If you are not a registered shareholder then either you dont own any shares (possible as you have no proof you do) or they have used some form of nominee account to keep your shares in. I suspect the latter as that would effectively hide your shares and prevent you from finding and selling them.
Hi PBOYLES
Just a quick one then, how would individual share holders be listed on the CH info held for the company? I can almost categorically state that the latter is indeed correct. But I will find out!
Cheers
Mugs
Companies House don't keep a record of shareholders the share registrar does.
Does a company have any obligation then to post a list of share holders with CH? As SOM have done this but obviously no individuals have been listed?
I believe they dont have to do that. I think that is why they are required to have a share registrar. You could call CH and check with them though.
Hello All!
Well it seems that we have a bit of a handshake going on between pboyles and oldoneleg. Peace between you. Maybe pboyles hit a nerve and may have saved you a lot of money. My feeling is that a lot of good has come out of this forum and its made SOM stand up and take notice. So my hats off to everyone and all we want is a fair shake in making a profit in the market. I realize that all investments have risk and rule #1 is Don't invest money you can afford to lose! I don't really think that SOM is a scam like many others you read about because they do have licenses and contracts with Astra and are visibly a company. what I don't understand is if they wanted to go public, why didn't they manage it properly and issue the shares accordingly? If I lost money from the price going down then it's the risk of the market, but i feel i didn't even have a chance and that's what bothers me the most. I invested what I could afford to lose. When it was over 3 Euros, I thought finally I got a winner. Then, as it dropped it made things worst knowing I could have made a huge gain but helpless. Most of you probably feel the same. I give it a bit of hope now and I didn't start the forum to hurt the stock but to give what happened some clarification and make it know some of the promises we keep getting from IR but no results. More honestly and transparency from the company. The same as any other public company. Financial reporting, Good PR, responsive IR which they seem to be improving on. This started out a promising investment that went sour. Hopefully there are lessons to learn before it goes under. If they get things in order, I may let my contrarian belief take over and buy more shares, but not til there's proof in the puddin!
Well it seems that we have a bit of a handshake going on between pboyles and oldoneleg. Peace between you. Maybe pboyles hit a nerve and may have saved you a lot of money. My feeling is that a lot of good has come out of this forum and its made SOM stand up and take notice. So my hats off to everyone and all we want is a fair shake in making a profit in the market. I realize that all investments have risk and rule #1 is Don't invest money you can afford to lose! I don't really think that SOM is a scam like many others you read about because they do have licenses and contracts with Astra and are visibly a company. what I don't understand is if they wanted to go public, why didn't they manage it properly and issue the shares accordingly? If I lost money from the price going down then it's the risk of the market, but i feel i didn't even have a chance and that's what bothers me the most. I invested what I could afford to lose. When it was over 3 Euros, I thought finally I got a winner. Then, as it dropped it made things worst knowing I could have made a huge gain but helpless. Most of you probably feel the same. I give it a bit of hope now and I didn't start the forum to hurt the stock but to give what happened some clarification and make it know some of the promises we keep getting from IR but no results. More honestly and transparency from the company. The same as any other public company. Financial reporting, Good PR, responsive IR which they seem to be improving on. This started out a promising investment that went sour. Hopefully there are lessons to learn before it goes under. If they get things in order, I may let my contrarian belief take over and buy more shares, but not til there's proof in the puddin!
No, the number 1 rule is don't buy shares from cold callers.
Allow me to summarise what I think are your thoughts on this matter.
You bought shares from a cold caller in a pre IPO company that you knew nothing about - But you're sure it's not a scam.
The cold caller turned out to be from a boiler room scam that is on various government warning lists - But you're sure it's not a scam.
The boiler room scam was run by a convicted criminal who has been involved in previous scams. - But you're sure it's not a scam.
The shares were restricted and even when the restriction ended you were not given access to them. - But you're sure it's not a scam.
The shares were pumped up to 3.70 and then fell to almost zero, just like the description of a pump and dump scam that the FSA has issued. - But you're sure it's not a scam.
The Investor Relations officer is not FSA regulated (as required) yet he is telling you to buy more shares. - But you're sure it's not a scam.
Every deadline for providing accounts has passed and each time a new excuse is given. - But you're sure it's not a scam.
Companies House is trying to liquidate the company in a couple of weeks. - But you're sure it's not a scam.
The company addresses appear to be virtual offices or maildrops. - But you're sure it's not a scam.
...to be continued
You have a personal message - please read
You might not want to hear this but I have dug up a bit more information on Udo Schaar, Director of SOM. It appears that he is also a director of 10Tacle Studios (T1C on the Frankfurt stock exchange). He was appointed around July or August 2008. Around that time the shares were trading as high as 1.40 euros, today they are trading at 6 cents having recently been as low as 3 cents.
http://www.gamasutra.com/php-bin/news_index.php?story=19740
http://www.gamasutra.com/php-bin/news_index.php?story=19740
Attachments
Well there's always their other guy, Dieter Falkenhahn, maybe he can turn the company around and get the share price back up to 3.70. It seems he was the Director of Aurora Global Invest Ltd, a gold investment company, doesn't sound at all dodgy so I was surprised to see they are about to be dissolved by Companies House.
http://wck2.companieshouse.gov.uk/17d005f99030e4c475ee570c26d95902/compdetails
Now have a look at their website (which is registered to Windhag 7, Neu Isenburg) and tell me that doesnt look like the most amateur attempt at boiler room scam website ever.
http://www.alvtooling.de/aurora/default-Dateien/Page472.htm
Their registered address is a farm in East Sussex.
http://wck2.companieshouse.gov.uk/17d005f99030e4c475ee570c26d95902/compdetails
Now have a look at their website (which is registered to Windhag 7, Neu Isenburg) and tell me that doesnt look like the most amateur attempt at boiler room scam website ever.
http://www.alvtooling.de/aurora/default-Dateien/Page472.htm
Their registered address is a farm in East Sussex.
Hi PBOYLES
I've just read through a few e-mails from back in 2008 as 10Tacle rang a bell, But all I can find is... yep you guessed it, requests to buy more shares!!! LOL
Interesting to note that Udo Schaar was invited to join the board: 'He'll be replaced by Udo Schaar, a representative of SpiritON MEDIA SE, the main investor behind 10Tacle's planned capital increase.' The article is dated August 2008 and they are still trading as far as I can tell from a Google Search. Not sure though if it's all attributed to the Belgium branch which is still owned by the German company?
Tomorrow is D-day for the accounts as far as the release by SOM is concerned and they have not posted any reason for a delay so I’ll be logging on in morning to see if I have a message from CH!! Not sure how quickly CH will actually update things so we may have to wait until Monday before anything official is posted by them! But you'd think SOM would send an advance copy to us investors?
Cheers
Mugs
Hi PBOYLES
This page is even better;
http://www.alvtooling.de/aurora/
and
http://www.alvtooling.de/aurora/default-Dateien/Page405.htm
Cheers
Mugs
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No one advised me on it!! It was in a release from SOM that there was something going on between them and 10tacle thats all!!!
Mugs
