The engines have fired up at last for MDX. ( BPRG ) At long last they are being recognised for the force they will become over the next two years. On the cusp of disclosing huge revenue-earning deals with Global pharmacists. These have been hinted at as being unrolled before the years end, but may be in the next days.You still have time to get in at a bargain-basement price before the SP takes off for real shortly.

Snap ... just told the zoo this is going sub 1p if it ever relists.

All its got is some dodgy IP that hasn't been developed in 5 years and if it were a world beater then it would have snapped up by now.

Your whistling in the wind tabby.

If you can't get the cork out you need to indert it the other way round. ;-)))))))


Not sure I know anybody in banks just now.

Listenwhen Neil Narine and Lexuss intervened. I had written off my investment completelyBarry knew the state the bod had got the company inplans in placethen the offer came in and the bod bought time in which to finish the company off a normal Barry never comes secondan arsed Barryoh dearit is no wonder when the way ahead was clear again TLSOS legged it I think you will be surprised over the next month.let time tell the truth..
Dilinvesting in lloyand such like you are never going to be as lucky.
My old mate that helps me on am thinks you are bright but safeI tend to agree

Now its getting silly tabby ... you really expect us to believe you got a mate ?

:-)

LOL!

Equs flogit mort
-er, but this discussion over whether 7p - - - - er, it is 7p now.

A long time ago ( I think it's close to 10years ), and at last BM is back in charge. That alone is bound to help short-term. . . . . and IF there is any half-chance for the business to survive, without Rights, or Fundraising creating dilution ( That's the worry!) then there is a reasonable chance he'll stay at least as long as necessary to put in some decent execs. . . . . never was impressed by RT

The only way it'll come back is either with massive dilution or underfunded imo ... therefore sp will get stuffed either way.

In the words of my hero tabby "let time tell the truth".

RNS Number : 9705L
Meldex International PLC
20 January 2009

For Immediate Release
20 January 2009

Meldex International Plc ("Meldex " or "the Company")

Receipt of Winding-Up Petition

Cambridge, UK, 20 January, 2009: Meldex International Plc (AIM: MDX), the Board of Meldex reports that the Company was formally served on 30 December 2008 with a winding-up petition by Richard Trevillion its former CEO claiming to be a creditor in the amount of 73,550.03. The Company informed Mr. Trevillion's lawyers that the amount claimed by him had been incorrectly calculated. The Company and Mr. Trevillion's lawyers subsequently agreed that the correct sum due was 26,209.93 and this sum has been paid to Mr. Trevillion's lawyers along with 3,500 on account of Mr. Trevillion's costs in the matter.

On 16 January, 2009 the Company's lawyers confirmed to Mr Trevillion's lawyers that the revised amount demanded had been agreed by the Company's directors and that funds in the total amount including a sum on account of Mr Trevillion's costs in the matter would be transferred to Mr Trevillion's lawyers to be held to the Company's account pending confirmation that the winding-up petition had been withdrawn prior to being publicized in the London Gazette.

Notwithstanding the foregoing, on 19 January, 2009 Mr. Trevillion acting through his lawyers published the winding-up petition in the London Gazette. The Company believes this action to be a wholly inappropriate process and intends to forcefully defend the winding-up petition, which will be heard at the Royal Courts of Justice, Strand, London WC2A 2LL on 18 February, 2009.


For information contact:

Gary Cressman +44 (0) 1223 394 250
Meldex International plc

Barry Muncaster +44 (0) 1223 394 250
Meldex International plc
BJM@meldexinternational.com

Oh dear.
Guess it's truth time then.

Is there no end to this sorry saga?

Acutally, it must be quite galling for those calling for the head of RT that he was legitimately owed money. The zoo must be beside themselves.

I think the sooner this company dies its deserved death the better.

Yeah but what we gonna do when we're bored then Al ?

:-)

How many more creditors will jump on the winding up petition? Danger is if they don't they could get left behind in any possible administration battle.

That looks to me like why he did it pt and wouldn't be suprised if he had been in contact with other creditors.

If I was Lexuss I would go after the whole lot of them now , who knows maybe he is.

Can't really work out RT's motives. He's certainly the target for most of the PIs and probably with some justification, although until the dirty washing is hung out to dry there is no way of knowing for sure - perhaps he's been shafted himself and is seeking his own revenge?

I'm certainly no expert in winding up petitions but from the little I have read, if RT can prove that MDX are insolvent then the petition may suceed (if it gets that far).

I did look at the 'fire sale' ratios after publication of H1 and MDX were even then on the cusp of insolvency. With the news that there are big holes in those accounts and recent events, it's an absolute certainty they are. So BJM has to stump up his own money (which I doubt he will) or convince others MDX is worth saving. Why not just let the petition take its course, appoint a liquidator, siphon off the IP and start again? Probably cheaper in the long run. MDX has no credibility in the market now and just the name is a huge albatross.

May the farce be with you!

My tuppeneth fwiw:

You can't simply present a winding up petition to any old Tom, Dick or Harry. To do so, this chap will have firstly needed either a judgement against MDX or he will have needed to serve them with a nasty little piece of paper called a Statutory Demand.

Assuming the latter, MDX will have had 3 weeks to apply to the court to set it aside before the petition was presented. So this mucky business has most probably been floating around since the beginning of December. MDX will have had plenty of opportunity to dispense with it before the petition was presented. They will have either been playing an expensive game of "Call My Bluff" in the hope that they can negotiate a reduced sum or they simply can't afford to pay the demand.

If they had disputed the amount, these would have been grounds to set it aside. You've got to assume therefore that they do actually owe the man 76k. Has this been taken off the books somehow? What was the key date of the Nomad resignation? This is is significant because it may well have been the date upon which he was made aware of the company's technical insolvency and was obliged to resign.

I don't know if that might help anyone, but things don't look good for shareholders.

The amount was negotiated and agreed at 23k hils which MDX agreed to pay subject to the winding up petition not being publicised.

pt - I have also wondered if RT is innocent and that the real blame lies elsewhere. Wouldn't be hard to convince the zoo of anything if someone wanted to.

Might go and tell them the moon is made of cheese later .

Yes, I read that Dilbert. But that is only the MDX side of the story and the petition has been presented for nearly thrice that amount.

Reminds me of the BPRG/SEO patent court case when both claimed immediately after they had both won, wasn't BJM in charge then as well?

Edit. Clearly RT hasn't been paid, how else could he proceed with the petition? Any judge would crucify him for doing so had an acceptable agreement been reached. Waste of court time, misuse of due process etc.

That was when Barry was acting "reluctlantly" as a consultant on 1500 a day I believe pt.