Re: FMDAY is a SCAM !!!!
in response to
by
posted on
Sep 19, 2009 06:20AM
I think the Advantage connection is the e learning division that was sold to a Swedish co that may well be called something like "Edvantage"? Clearly if it was sold off as reported, it's no longer owned by FMDAY.pk so will still be trading under its new Swedish owners, who are first rate e learning producers:
http://www.edvantagegroup.com/
Good luck to them - they deserved a decent management and parent company after the sh*t they put up with for so long.
I think Button has a separate but linked CVA to the FMDAY one, based on info from the case study report from the insolvency company that got the CVA in place... but check this.
IMHO, the exhibition business that is all that is significant here that remains trading is now between a rock and a hard place - dramatic fall off in business - eg major motor exhibition completely cancelled recently - and price squeeze is now on bigtime as well as spend per stand down hard. Button operates in the UK, USA and Dubai - so cost base must be very high for such a small operation given the scale of air travel, shipping costs, etc. Can't see a company whose holding group FMDAY that is reported to be rolling up its senior debt interest payments because it can't pay them being able to keep its cashflow positive in this climate, can you? (See CVA case study:
http://www.companyrescue.co.uk/documents/FuturemediaplcCaseStudy_000.doc
IMHO, given Spice appears to be just a brand of Button Group Ltd, I don't think it has any corporate status other than that, so you need to watch Button's filings @ companies house in the UK as legally spice=button, I think.
There's a reference to "Button Eventures inc" rebranding as Spice in online news, but the SEC has no record of a company with anything like that name....
I find it amazing that a UK PLC that was listed on the NASDAQ that was doing £££ business from the UK government just 3 years ago is now not releasing any company information at all and seems to be allowed to simply drop out of sight like this without the SEC, DTI or any government agency stepping in to protect shareholders.
If there is a scam, the biggest scam is that this has been allowed to get to this stage by the regulators - Bernie Madoff and the neocons created a "light touch" regulatory environment where investors are simply devoured wholesale.
The moral of the story is, don't deceive yourself that you stand any chance of a fair deal on the NASDAQ small cap market, the UK AIM market, or the pink sheets - as a small investor, you are a lamb to slaughter, pure and simple. If you want to gamble, go to Vegas and at least have some fun with your money where you know the real odds.