ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on May 1, 2017 12:00:49 GMT
Nice to know I'm loved and have been missed stub8535 and elliottm  I think, after mine, yours, and others continuing valiant efforts, the Platforms now have a much better, ahem, "understanding", of not what our expectations are, but our demands. If they want to continue attracting our shekels they have to stop being so deliberately devious. Have a V nice Rest Of Bank Holiday Weekend All!! |
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on May 19, 2017 10:47:24 GMT
In my view there is an increasing bad smell of dead duck about this loan. Now almost six months overdue and nothing but excuses with no doubt more to follow.
As I have previously pointed out boats and this type of boat in particular, are "wasting assets" and the value of this boat must haver dropped considerably since the loan was first drawn down. My guess is that the sales value could have dropped by at least £100k if not more. Plus the fact that this is a very "specialist" market with few potential buyers.
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ozboy
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Post by ozboy on May 19, 2017 11:04:17 GMT
In my view there is an increasing bad smell of dead duck about this loan. Now almost six months overdue and nothing but excuses with no doubt more to follow. As I have previously pointed out boats and this type of boat in particular, are "wasting assets" and the value of this boat must haver dropped considerably since the loan was first drawn down. My guess is that the sales value could have dropped by at least £100k if not more. Plus the fact that this is a very "specialist" market with few potential buyers. I'm as fed up and sceptical as the next person (note, not "man"!) and am probably being my usual naive, but if the contracts are signed we should be getting our money soon? (ish?), It's only been about two weeks since "contracts signed" but I'm slightly more positive this might actually happen now. I hope.  13/05/2017 - Funds still awaited 06/05/2017 - Await confirmation of timing and receipt of funds 30/04/2017 - Contracts have now been signed which will provide sufficient funds to pay all interest to date to renew the loan. Once we have confirmation of the timing an update will be posted.
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Post by bracknellboy on May 19, 2017 11:06:15 GMT
well why on earth hasn't the money arrived ?
But then its ONLY to repay the interest to allow the loan to renew. Its not hte principal. Which means a new loan has to be funded.
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ozboy
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Post by ozboy on May 19, 2017 11:14:47 GMT
well why on earth hasn't the money arrived ? But then its ONLY to repay the interest to allow the loan to renew. Its not hte principal. Which means a new loan has to be funded. well why on earth hasn't the money arrived ? - FKnows, could be myriad reasons but should, after 2 weeks, be soon/ish? ONLY to repay the interest - Very aware of that, but it allows those of us who want out to, well, get out!
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Post by bracknellboy on May 19, 2017 11:42:02 GMT
but it will only allow us to get out if they manage to get the renewal away. Strangely enough, I doubt I will be one of those funding it......, and I would be surprised if many rollover into the new one.
We shall see: but I am far from optimistic we have an escape route yet.
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ozboy
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Post by ozboy on May 19, 2017 11:46:07 GMT
C'mon ozboy , don't be shy, let it out! You know it will make you feel better😈 I'm getting coy in my dotage  PS: And FS have feelings you know 
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elliotn
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Post by elliotn on May 19, 2017 11:51:52 GMT
but it will only allow us to get out if they manage to get the renewal away. Strangely enough, I doubt I will be one of those funding it......, and I would be surprised if many rollover into the new one. We shall see: but I am far from optimistic we have an escape route yet. Are we told when UWs are used?
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09dolphin
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Post by 09dolphin on May 19, 2017 12:11:22 GMT
Perhaps it will be funded by an underwriter? I can only live in hope but I suspect I will be disappointed. I won't be renewing my investment but will gladly take the interest that I hope will be paid in the next few weeks.
What I don't understand is why FS will be offering this as a renewal.
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mikes1531
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Post by mikes1531 on May 19, 2017 19:56:29 GMT
...It's only been about two weeks since "contracts signed"... 30/04/2017 - Contracts have now been signed which will provide sufficient funds to pay all interest to date to renew the loan. I'm hopeful as well, especially as I have a good chunk of funds tied up in the boat loans, but my calendar tells me that three full working weeks have passed since the update reporting the signed contracts. I wonder if fundingsecure are aware of anything else that must be done/accomplished before the funds will be forthcoming. Can contracts be conditional and not become effective unless certain conditions are met?
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on May 20, 2017 9:12:51 GMT
...It's only been about two weeks since "contracts signed"... 30/04/2017 - Contracts have now been signed which will provide sufficient funds to pay all interest to date to renew the loan. I'm hopeful as well, especially as I have a good chunk of funds tied up in the boat loans, but my calendar tells me that three full working weeks have passed since the update reporting the signed contracts. I wonder if fundingsecure are aware of anything else that must be done/accomplished before the funds will be forthcoming. Can contracts be conditional and not become effective unless certain conditions are met? Unfortunately I too have a fair amount of skin in this loan- mainly attracted by the higher interest offered when it was launched. Like you I am sure something has been going on behind the scenes as when I questioned FS yesterday they indicated an "announcement" shortly. I guess going on past patterns that might mean today or tomorrow. So got everything crossed for some real positive news. Update from FS 1455 20/05/17 To reconfirm - contracts were signed by the new equity partner and they will be providing substantial funds, which will be used to grow the company and expand its areas of operation. The initial funds will include sufficient to renew both of the outstanding loans. We expect to receive part of this payment within the next few days, with the balance to follow soon afterwards. As soon as we have receipt of the initial funds and confirmation of the timing for the balance a further update will be made.
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Post by eascogo on May 20, 2017 15:42:16 GMT
Update 1 hour ago
"To reconfirm - contracts were signed by the new equity partner and they will be providing substantial funds, which will be used to grow the company and expand its areas of operation. The initial funds will include sufficient to renew both of the outstanding loans. We expect to receive part of this payment within the next few days, with the balance to follow soon afterwards.
As soon as we have receipt of the initial funds and confirmation of the timing for the balance a further update will be made."
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on May 27, 2017 9:48:30 GMT
Last week we were told "We expect to receive part of this payment within the next few days, with the balance to follow soon afterwards".
Then as has become usual - nothing heard. Perhaps the heat has got to them?
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Post by savgeax on May 27, 2017 11:45:33 GMT
I think we shall get an update this weekend/Monday.
They will hopefully tell is partial payment has been made.
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Post by moneymagnet on May 28, 2017 11:12:46 GMT
"Loan Updates
20 mins ago
Initial funds will be with us during the coming week - with the balance expected by end June."
Sounds encouraging, but won't be counting my chickens just yet.
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