Bought some of these this morning...highly spec but worth a small punt I reckon...news due shortly...(dyor, imho)


Anyone else in?

Yep, not good...all very disappointing...not worth selling my shares as it's not worth much so will keep holding and hope something good comes out of it all in the end!...although it'll probably go belly up.

The Weather Lottery plc. The time has come to say enough is enough.

It is not a matter of if but when the Weather Lottery plc will go belly up.

Since the new board of directors under the chairmanship of Lord Tim Razzel took control they have:

1. Invested in the start-up FC Betz and lost £400,000 on that investment
2. Invested in Devilfish Poker and lost £149,000 on that investment.
3. Invested in the Soccerdome and lost god only knows how much on that investment.

The total losses for year end 31-07-2011 were £789,000

The losses for the half year to 31-01-2012 were £201,000

The half yearly report to 31-01-2012 makes shocking reading. The company is carrying goodwill on its balance sheet at £467,000.

What goodwill and how by any reckoning can it be valued at £467,000?

Even the lottery business is only hanging on by the skin of its teeth. Take the goodwill amount off the balance sheet and the company is insolvent.

In November 2011 the former managing director Keith Milhench was jailed for 28 months for stealing from the company.

Just yesterday a notice was placed on the company website saying that Commercial director Ross White has resigned with immediate effect but no reason is given for his resignation.

Who’s left in charge?

The Chairman Lord Tim Razzel. He presided over losses of £990,000 in 18 month to the 31-01-2012 and the decimation of the company’s balance sheet.

The Financial Director Andrew Flitcroft. His Track record as provided under AIM rule 26 makes dismal reading and does not inspire confidence.

Mr Flitcroft was the subject of an individual voluntary arrangement dated July 2004 which was settled and discharged in June 2006. He was until 27 April 1999 a director of Laytelle (MCR) Limited, when it was placed into administrative receivership and until 26 April 1999 of Madison DCA Limited, when it entered into a creditors' voluntary liquidation. He was appointed a director of C.W.J (Radcliffe) Limited on 30 April 1998 which was the subject of an administrative order on 18 March 1999 (discharged in January 2000) and entered into a company voluntary arrangement in September 1999.Mr Flitcroft was a partner of Madisons Partnership, which went into administration in April 1999.

The Company Secretary John Botros. His track record is also cause for concern.

You can read on the internet that John Botros was disqualified from being a company director for six years. This was when he was in business with the boxing promoter Frank Warren and a high court judge Mr. Justice Blackburne said that Botros and Warren failed to comply with the requirements of the Companies Act as to the filing of annual returns and accounts; failure to maintain and preserve accounting records; defaults in the submission of VAT returns.

Information available on the internet also shows that John Botros went on trial in Wood Green Crown Court in 2005 with a number of others accused on charges of fraud and money laundering in a criminal case described in the court records as REGINA V JOHN BOTROS, CURTIS SAMUEL PATRICA FRANCIS & FERICK SMITH [2005] which involved fraud involving the theft of over $5m from the Bank of Nova Scotia. In fairness there is nothing on the internet to say what was the outcome of the trial.

Where are the Nomads, don’t they have a responsibility to make sure that this very negative information about John Botros is disclosed to shareholders under rule 26 of the AIM rules for companies?

The gross incompetence and neglect of this board has destroyed all shareholder value.

There is no point saying sell because you couldn’t give the shares away today.

Where does all this leave the shareholders?

Again I ask what are the Nomads doing?

Hello is there anyone at home?

topped up this morning with a small speculative outlay...let's see what happens! if anything!

maybe something happening soon ?

maybe something happening soon ? sp stirring. news yesterday that news is due soon that should enhance shareholder value ?

Should start to see some news of some sort soon based on below announcement some three months...


"It is intended that Q3 2013 will see the rebranding of the Company, additional strengthening of the board to support the launch of an updated online lottery platform as well as the strategic roll out of new gaming, technology and payment products for customers."

It's a crazy notion, bettig on the Weather . . . as there can be no "Form" - at least with a Horse, Greyhound or even Lottery Numbers folks believe there is a "pattern" - but as we all get caught out by the weather . . . . Yikes!

I recall there was another "Lottery" that went belly-up . . . they just don't have the presence and Budget to sustain the business . . . .
Not one of mine, fortunately . . . though I wonder if the Execs will fare better?
EDIT (13Sept2013)- Yawn. + TWL raised £440k by (DILUTION!) to buy IOM payment co - isn't it Punters they need?