TZL - TZ Limited

[prawn_86]

Differnece is you actually know the cash balance, or a rough idea of it. Whereas it appears investors have been massively misled when it comes to TZ.

Im waiting, gotta give the new board a chance, but im hoping its not too late (it wouldnt be their fault if it is)

 

[Santoro]

Clearly demonstrates why Faber, Kelliher etc resigned, in hindsight a clear big alert/danger signal.

Makes sense UBI, I think the directors will pass the hat round to the shareholders and explain that this company can go places but not quite like this, will dilute things but better than getting skun.

Not sure we can compare commodities with ip....

Falconer & Co need the book thrown at them for there inept and meek governance....what a bunch of throttlers!!

 

[UBIQUITOUS]

Falconer & Co need the book thrown at them for there inept and meek governance....what a bunch of throttlers!!

Unfortunately for them, they will have several books thrown at them. It really is not looking good.

We must bear in mind that Mark Bouris and team would have had their suspicions of these wrongdoings for a few months (hence the move against the board which began in April).

The only question now is whether they can raise capital. Who better than Mark Bouris and a group of VERY loyal shareholders? Things should move along nicely from there. The previous board were a millstone around the next of TZ. This weight has now been lifted.

 

[prawn_86]

I would be very surprised if any of the previous TZ board spent any time behind bars. Australia is very lenient on corporate crime, so i bet they get slapped with a warning at best

 

[UBIQUITOUS]

I would be very surprised if any of the previous TZ board spent any time behind bars. Australia is very lenient on corporate crime, so i bet they get slapped with a warning at best

I'll take that bet.

Nearly all of the following charges have a maximum sentence of 10 years. I wouldn't be surprised if ALL of them are made to stick. There will be no leniancy for somebody facing a combination of these.

http://www.armstronglegal.com.au/web/page/Directors_Publishing_False_Statements

http://www.armstronglegal.com.au/web/page/Embezzlement

http://www.armstronglegal.com.au/web/page/Directors_Wilfully_Destroying_Books

http://www.armstronglegal.com.au/web/page/Directors_Cheating_or_Defrauding

http://www.armstronglegal.com.au/web/page/Director_Omitting_Certain_Entries

http://www.armstronglegal.com.au/web/page/Fraudulent_Misappropriation

http://www.armstronglegal.com.au/web/page/Obtain_Money_by_Misleading_Statements

 

[YELNATS]

I would be very surprised if any of the previous TZ board spent any time behind bars. Australia is very lenient on corporate crime, so i bet they get slapped with a warning at best

If they've done the crime, they should do the time.

Think of Ray Williams and Rodney Adler of HIH fame. Surely they need to make an example of some of these corporate crims.

 

[prawn_86]

What a balls up this is turning out to be. If it does manage to come out of suspension, without going into administration, it will be a long long time before the SP is around even $1 again IMO.

Usually when a stock comes out of a long suspension like this it is sold off massively.

This could takes years to sort out

 

[UBIQUITOUS]

Usually when a stock comes out of a long suspension like this it is sold off massively.

This could takes years to sort out

Really?

As a moderator, I'm sure you will understand the need to set an example and provide evidence to back up your comments.

Okay I'll play this game (even though I know that the sp action depends on the reason for the suspension and the outcome):

GGG was in suspension in 2007 for 6 months. SP prior to suspension 25c. SP within days of the suspension being lifted - $1.75. Is that a sell off you were referring to?

Your turn.

 

[prawn_86]

Your turn.

After falling from around 70c to 15c (slow decline, similar to what was seen in TZ) EDE was in a suspension for about 5 months and then opened at 3c. They are a company also with an outstanding technology, but lacking the experience to commercialise it. :

 

[UBIQUITOUS]

What a balls up this is turning out to be. If it does manage to come out of suspension, without going into administration, it will be a long long time before the SP is around even $1 again IMO.

Usually when a stock comes out of a long suspension like this it is sold off massively.

This could takes years to sort out

Looks like you're going to be wrong yet again kiddo.

Have a look at the new homepage on the website.

www.tz.net

 

[Sean K]

Looks like you're going to be wrong yet again kiddo.

Have a look at the new homepage on the website.

www.tz.net

WTF has this got to do with it?

A new homepage is a turnaround story?

Just how the company has managed their past 3 years marketing.

Talk, and NO substance!

 

[UBIQUITOUS]

WTF has this got to do with it?

A new homepage is a turnaround story?

Just how the company has managed their past 3 years marketing.

Talk, and NO substance!

You obviously haven't been following things closely at all, so your comments are pretty rash to say the least.

1. TZ have a new board which ousted the previous board. They should not be held accountable to what has gone on before. Or do you paint everyone with the same brush? If you do, then how about painting TZ with the Mark Bouris (successful businessman and now chairman of TZ) brush?

2. The new homepage now lists a product which, having been jointly developed, has now been delivered to the world's largest distributor. This puts paid to all of the comments about TZ not having enough cash to deliver on this.

Plenty of substance with this one Kennas - just look a little more closely before commenting please.

 

[prawn_86]

Another ann out today, revealing even more of a shambles than first thought.

Let me preface this by saying in no way do i believe the current board is at fault.

Personally i think these guys are fairly screwed. The March quarterly reported $9m in cash, but forensic accounts say there was only $1m. Virtually no paper trial, no ideas about debtors, no interest paid to QVT... the list goes on.

At least the current board is being honest now in saying they have no idea when TZL will be reinstated from suspension. My bet is it will be at least 6 more months. Even if they do make it back, then they are paying huge interest sums on the notes issued to 'resurgence'.

I have personally written off my stake in this. If i get 10c in the dollar back i would be surprised.


Now lets wait for Ubi to come and put a positive spin on things. No doubt this announcement is great news and the company will be a $20 stock soon...

 

[Kuri]

Does anybody else think that Pommiegranite has taken the new handle of Ubiquitous? PG last post was in Feb 09 and Ub joined Feb 09. Neither of them will listen to reason regarding TZL and will try and stop any constructive discussion. Also, when one walks into a room the other one leaves. Very eerie.

Looking forward to hearing your thoughts.

Kuri

 

[UBIQUITOUS]

To make you feel better, I will answer your bleatings. You only need to ask directly.

Another ann out today, revealing even more of a shambles than first thought.

Maybe by you, but it was just what was expected by many, many months ago.

Personally i think these guys are fairly screwed. The March quarterly reported $9m in cash, but forensic accounts say there was only $1m. Virtually no paper trial, no ideas about debtors, no interest paid to QVT... the list goes on.

So you have no consideration about the money which has been raised by the Resurgence fund convertible note. Also QVT have the option to invest by 30 Sep. Once they invest, I guess you would then say that a $5billion hedge fund with full access to the company's operations has no idea what they are doing. BWAHAHAH!

At least the current board is being honest now in saying they have no idea when TZL will be reinstated from suspension. My bet is it will be at least 6 more months. Even if they do make it back, then they are paying huge interest sums on the notes issued to 'resurgence'.

1. I see, you have now changed your stance to say that TZ may relist. Only last month, you gave them no chance.
2. Huge sums of interest on the resurgence note!!!!! HAHAHAHAHA
Kiddo, a 10% interest rate on $1.4million of notes valid for 1 year = $140k. Prawn, is that a mind boggling amount for you?

I have personally written off my stake in this. If i get 10c in the dollar back i would be surprised.

Oh dear. It would appear you are looking fr reassurance.

Now lets wait for Ubi to come and put a positive spin on things. No doubt this announcement is great news and the company will be a $20 stock soon...

Nope, you suffer due to your lack of understanding and research. I guess we all get what we deserve in this world. Pick up the phone and call TZ.

ps..still reckon ASIC are going to give the former board a slap on the wrists? BWAHAHAHA

 

[UBIQUITOUS]

Does anybody else think that Pommiegranite has taken the new handle of Ubiquitous? PG last post was in Feb 09 and Ub joined Feb 09. Neither of them will listen to reason regarding TZL and will try and stop any constructive discussion. Also, when one walks into a room the other one leaves. Very eerie.

Looking forward to hearing your thoughts.

Kuri

Lol...nope...you got me there. I'll leave the constructive discussion to you. What was it you were discussing? Oh yes that's right....user identities....lol

Chill out guys...it will all happen for you soon. Call the company with your concerns instead of bleating on forums.

 

[prawn_86]

ps..still reckon ASIC are going to give the former board a slap on the wrists? BWAHAHAHA

I gaurantee it. Look at what the James hardie directors got away with and the punishment they got. If the ex directors get fined more than 20k each (after being forced to pay back what they owe) i will be shocked.

Im not looking for reassurance, i know this company is a dog. And yes a 10% interest rate is still a 10% interest rate. If the company had such a biright future why wouldnt banks lend to them at a lower rate? Oh thats right, because at this stage it seems they have very little chance of coming out of it alive.

And dont you find it amusing that i am 'suffering' the same as you? We both cant sell...

 

[UBIQUITOUS]

Im not looking for reassurance, i know this company is a dog. And yes a 10% interest rate is still a 10% interest rate.

So a $1 debt at 10% has the same burden as $1,000,000,000 debt at 10%.

Err...okay mate...you're on your own with that one.

And dont you find it amusing that i am 'suffering' the same as you? We both cant sell...

I find it amusing that while I bought a lot as low as $1, while the former board were liquidating, others like yourselves sat on your hands.

Let's see who's amused soon. Even if I get $1.10 on open, then that's 10% and is HUGE...right?

Prawn, be a man, just phone the company.

 

[UBIQUITOUS]

Hey guys...where'd ya go? Busy avoiding humble pie?

What a ripper of an operations update today eh Prawn?

No worries...its all good

 

[prawn_86]

What a ripper of an operations update today eh Prawn?

Only just had a chance to read it then. And yes it does sound promising. Good to see current management do what previous failed to; provide clear and detailed shareholder updates.

I would still like to see some actual figures, margins and timeframes, but am aware that with the state the co has been left in this could take some time. This is a step in the right direction, but the next step will be getting cashflow neutral and sorting out all the court cases etc...

I still think it will be a while before they re-list (doubt it will be this year), and im wondering what size the proposed cap raising will be, and if they will ever get back any of the embezzeled money.