Ann: Convertible Note Facility, page-14

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centrenow

636 Posts.

18/02/15

09:27

Post #: 14774028
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Originally posted by centrenow ↑

Are you positive they have found some funding? It appears its a "binding HOA" with a shelf company with no trading record.....hopefully there is funding, but based on details in the singapore company register I am not yet convinced

Who are the principals/investors of Alpha Crowne? (current directors were appointed when set up as shelf company in July 2014, 1 of which works for a small accounting firm. and is a director of 194 companies)

Who has negotiated/signed the HOA? (the shareholding in Alpha Crowne only changed on 19/1/15, no new directors appointed as far as the register shows, so its this new shareholder who presumably in the deal/has the money)

What due diligence has the VAN board done on the funding source? (As the best case would appear to be that Alpha Crowne is just the financing legal entity, at this stage it doesn't appear to be an "investment entity focused on advanced gold projects". Someone/something behind might be, but would be interesting to know who that is, have funds been injected in Alpha Crowne - as otherwise would appear to be a risk that there is a binding HOA with a company with 100 paid up capital and potentially no assets)

I am going to ask the company the above questions, the information I have found is publicly available at bizfile.gov.sg for a small fee. I won't name the new Alpha Crowne shareholder or its directors, as this information needs to be purchased (and will cost you 5 or 10 singapore dollars)

Looking out for more info on this....

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no response from company on above questions

I finished looking at the new alpha crowne directors (appointed after the HOA ann!!) and the company which owns 100% of alpha crowne, and its directors and shareholders. Doesn't instill much more confidence
So anyway, I look forward to hearing $1m has been drawn down in 2 weeks

VAN Price at posting: 2.2¢ Sentiment: Hold Disclosure: Held
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Ann: Convertible Note Facility, page-14

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