Simon Woods

@Blad3sharp @bidsalliance It would be interesting to see how these numbers compare with any statements or comments made by Draper at the time of the first VST proposal or the Irdeto negotiations.

@bidsalliance $42m raised since Bidstack listed on aim and for James and Lisa to steal it for £804,848 is an absolute joke. Even more so is saying they would only recover £80k if they simply wound the company up. Also where did the €3m go from Azerion settlement. All stinks 💩 #bidstack #bids

We have now seen the Bidstack administrator’s official report. The pre-packed sale resulted in a total consideration of just £804,848 being received for all of the Company’s assets compared to an estimated £80,000 should the Company have been wound up. Anzu is Bidstack’s closest competitor and Anzu does not have an agreement with Electronic Arts (EA) and to the best of our knowledge has not developed a ‘Sports Rights Management platform’ as Bidstack has. Anzu raised $48m last summer in private equity funding (link below) and we are being told that the wind-up value of all of Bidstack’s assets - including 3 granted patents - is just £80k. They must think we were born yesterday. Also, we learn from the administrator’s report that VST Ltd was the purchaser and Draper owns 49% and Hau 35% of VST. Not a bad bit of business. Draper only owned 3% of Bidstack Group PLC and now has 49%. Hau owned literally less than 0.1% and now has 35%. Those were our shares, and we are determined to get them back. We are the Bidstack Shareholders Alliance. Join us. #bids #bidstack adexchanger.com/investment/anz…

@Blad3sharp You could make a case that Drapers acquisition of the shares was not at arms length. HMRC (SAV) would then use their own FMV and the difference between this and the amount paid by Draper could be considered employment income and taxed at 45%, leading, I’m guessing, to bankruptcy!

bidstackshareholders.org We are in discussion with a leading law firm in London which has considerable experience in shareholder disputes with the aim of pursuing the directors (and others) through the courts. ​Join the fight please sign-up to join this action here. #bidstack

@MHMembers @alvarezmarsal @insolvencygovuk @TheFCA @bidstack It also begs the question, why didn’t they go to shareholders for further funding as a last resort, before putting it into administration ? Presumably, because they wouldn’t have got this opportunity.