No direct comms since January is something I don’t believe FRR was anticipating when they told us that they would continue to inform shareholders via RNS-Reach service and hold regular investor meetings. So what’s changed? I think the case in Cayman was mishandled by our legal team, and when it became clear to SN+ZM, that their team had been infiltrated by the enemy, they legged it to California. Perhaps that is why they are holding back the payments to them? I speculate of course. But just to be balanced, Judge Kawaley was also hoodwinked and his initial judgement did us no favors. However my theory has some credence because FRR declined to Appeal in the Cayman’s, which would have been the natural process but didn’t choose to because they could not trust anyone in the Caymans.
Nevertheless, this prolonged silence has created doubt and frustrations amongst the faithful, which is completely understandable. Against this, we know that company is still fighting on many fronts: 1) In California where it has secured more time to complete its due diligence via the Discovery Order. And 2) In Ukraine where is has officially lodged a complaint in the local court and escalated it to a number of US Authorities. These are signs of life and therefore, we need to let them get on with it until such time, they feel they can engage with the shareholders. When will that be? I really don’t know. But I think FSHG should continue to politely ask for a 1-2-1 with Zaza when he is passing through.
Anyway, the big significant unknown is the situation with the US$2.2M debt that was owed to YA by 1st July. Just getting some indication that this has been dealt with, could be a massive positive on many fronts. I do believe YA are the linchpin to the ‘illegal interference’ claim and market manipulation that took place back in late Sept and October. I definitely recall the unexplained big volume days – c.800m exchanged hands in a matter of few days; did Hope jettison 500m shares that we was expecting from Mssrs SN and ZM?
On a final note, seeing the increased troll activities across a number of BBs, in what is supposed to be a very quiet period, says a lot……