Some Advice Needed Please

Dodgyone

Bubba - when your friends lawyer comes up for air from laughter he will tell them that they are still free to do whatever they chose with the property be that sell it, rent it or knock it down! They have received shares in a company that’s assets are your property and if Moralltach are able to convince an investor that both they and your friend own the same asset then the shares may be worth something!

Thanks for that information I nearly fell for it when they approached me about taking my house three years ago what a shower they are.

Veritas26

If Moralltach were a horse it would have been made put down and made into glue many years back. It limps on like a blind, deaf and lame mare.

ScamAtak

I hear through a reliable source that a creditor is about to pursue legal action in both Malta, Ireland and the UK against Moralltach for large sums of money and also to engage with the Maltese Crime Unit in an effort to put this company down once and for all and then go behind the veil of incorporation. They are after anyone involved. Apparently they believe they have proof the company is insolvent. That would mean they could try to go behind the veil of incorporation in Malta. They are also aware that shares have been sold to investors in the UK on the basis of valuation that might not be what they seem. So if investors (those who paid real cash for shares) lose money will that result in criminal complaints?

Veritas26

Off to the knackers yard

I heard they are securing all assets checking all properties are fully legit and going on stock exchange next year 🙈

From a very reliable source.

Dodgyone

bubba - I have no doubt that your source told you that but I believe the information is highly unreliable!!

Why?

1. They have been saying the same thing every year since 2016. They will be saying the same thing next year and every year until they are either forcibly or voluntarily shut down.
2. They have to maintain this position as they have most likely raised cash for equity with this story. If they now change this stance there will be serious consequences for all involved. Also, they are unable to raise more funds from cash investors unless they maintain the position that everyone is about to make a fortune from the listing.
3. Orgainsing a stock market listing is a huge undertaking. So far the company have not managed to file one audit in Malta since they came into existence in 2016. This company cannot even get the basics right.
4. From previous postings the company appears to have creditors in multiple countries. Suspect they have serious liquidity issues.
5. Why do the business surround themselves with those who have questionable pasts.
6. The only way that they can “secure” the assets is by paying for them. Being as they cannot pay their bills this will not be happening anytime soon.
7. For any listing to be a success they need to convince investors that they actually own properties that are owned by others!

you appear to be a unique position in that you know both property owners and those close to the company. A good test as to whether this business has any validity at all is to get one person (who has been given Moralltach shares “for property”) to ask a solicitor if there are any restrictions whatsoever on the individual selling the property. If the answer is that they can still sell the property without providing any consideration to Moralltach then it is case closed!!

I have been following this company since 2016 as I was approached to invest my home through a friend .Well I did not invest I smelt a Rat.But it's beggers belief to think they are still scaming people to work for them under false belief of Yet again Listing.

Dodgyone

Yes they prey on unsophisticated investors.

Most likely they are so deep into the lie now that they believe it themselves!

Dodgyone

Most likely white collar crime and it needs to be shut down by the authorities. This will happen eventually it’s just a question of when!

Dodgyone

Bubba - do you know anyone that has Moralltach shares?

Well I know someone who has put in property and promised shares when it listed before they got kicked of the stockexchange and believing in the dream next year as told will be listed again . There using vulnerable people who bought into the dream of non existence.

Dodgyone

Does that person think that they have genuinely sold their property to Moralltach and as a result received their shares? And if so do they believe Moralltach could sell their property if they wanted to?

RogerthatNinerone

bubba -

why did your contact put their properties in? We’re they in financial difficulties?

They put their property in the mix on the belief after the listing in Australia they would be millionaires. Do they know if Mortallach owns their property i dont know this as its a very touchy subject and i dont ask.But their vulnerability got them sucked in Although they are aware of all the skulduggery underhanded dishonest unscrupulous they still believe and one of them works behind the scenes for them still believing the dream So there you go how long does it take before the penny drops for some people These are the type of people they use vulnerable naive with lack of wisdom and judgement and totally misled Awful suitation

Dodgyone

That touchy subject that Moralltach can issue shares to take ownership of someone’s property is what they base their entire business model on. It is on exactly this basis that they would like to list on the stock market.

I am 99.99% certain that your contact if they wanted to could sell their property today and could do so without giving one cent of consideration to Moralltach. Moralltach would take their worthless shares back of course.

Dodgyone

So if Moralltach can convince people that both they AND the actual property owners (who actually have full legal title on the property register) own the property then the listing may be a success.

In other news I will be winning the Irish lotto tonight!!

Yes but a lot of cash investment in as well .That's well gone at this stage 🙄

Veritas26

I imagine all the cash that has been put in by cash investors has been squandered. These same cash investors were told that the company had a huge property portfolio. They are promised a listing is just around the corner again and again.

A listing would probably be the worst thing that could happen for those with property. Why?

1. Today they can do as they please with the property. Live in it, rent it out, sell it etc
2. Post the listing Moralltach would buy the property with the proceeds from the listing. At this point those individuals only own Moralltach shares. Those shares would be worth roughly the value of the assets in the company. However, as you can see from the failed IPO in Australia the directors of Moralltach own the vast majority of the shares in the company. So this is not a simple property for share swap. It is a give me your property and you will get some shares back but I will get far more.
3. The only people that will make money would be the directors.
4. Those that put property in (and the only assets in the company)would find they then hold shares worth a small % of the value of their property

RogerthatNinerone

Bubba -

Does Moralltach involve itself in the day to day leasing etc of the properties in any way? Just interested to know their level of control

I don't know to be honest

I thought they went into merger with William Marshall then Red Spear took over So is Moarlltach still Moralltach ?

https://carlow-nationalist.ie/2020/06/30/local-businessman-claims-he-was-threatened-by-the-vipers-debt-collection-firm/

Dodgyone

William Marshall deal did not happen most likely as they did their due diligence and did not like what they saw!

So Moralltach is still Moralltach!!

Moralltach have no income which in itself makes no sense if they have a huge portfolio of properties!

Their involvement in day to day leasing is proportionate to the amount of properties they have on the property register. ZERO.

RogerthatNinerone

They obviously have some contractual claim/tie to the properties. Be interesting to know what level of control they have over property owners.

Dodgyone

Some type of contract yes. Something that you and I could draft, set up a company, get all our neighbours to sign and then claim to have a huge property portfolio.

When they where delisted from the Australian Stock Exchange for non compliance and transparency And did not show what they where asked as in details of all properties that they claimed to have in their portfolio At this stage as far as i know they working on their portfolio all the fine details to list on the Stock Exchange in UK . Regarding William Marshall plc they where delisted off the Cyprus Stockexchange for non compliance So Moralltach and William Marshall established a top company Redspear which is jointly owned by Marshall and Moralltach. 31 March 2020 Redspear where suspended for a year trading by Dubi Financial Services Authority DFSA for seriously concerned about its Financial services. Feb 2021

Dodgyone

Sounds like a merger would have been a match made in heaven!

🤣😂🙈

Any up dates

Dodgyone

Same as last 5 years - hot air and bluster

ScamAtak

I just realised there have been no audited accounts filed at the Maltese registry for a very long period of time. However, I have come across an investor who said they were going for a float and had actually bought shares in the last 18 months and had been promised a set of audited accounts. They are still not forthcoming. How can they go for a float any where without a set of accounts? There are also no properties registered under their name. I also here that a creditor is commencing proceedings to wind the company up plus there is a meeting being set up with the Maltese Financial Crime Unit. But why? Anyone got any answers on any of this?

Veritas26

No audited accounts ever filed in Malta since the company was incorporated actually!

Interesting to see who wins the race to close down the company - creditors, crime units or regulators.

Feel sorry for anyone that invested any money in the company.

Would not want to be a Director of the company right now!

I don't think there would be any properties in their name. The whole idea was to payoff the banks for destressed Mortgages and you pay back a lease fee ( which happens to be more than your Mortgage repayments figure that one out ?) As far as I know the deeds don't go to them that was what my friend was told when she was going to go for it. When she asked who will have the deeds her answer was well neither you are us .Yet you can sell your Property after 15 years a market Price from them or release. That was when it all started fist 2016 so god knows where all this property investments went.

Veritas26

I think you are correct Bubba in that they have NO properties in their name. Yet they still tell investors who pay cash for stock and in their failed IPO in Australia that they have a huge property portfolio. They don’t. This is why they cannot get an audit done, cannot borrow money, cannot IPO!

So yes if they pay off the banks then they could have a property portfolio just like you or I could.

Dodgyone

And this is being dishonest to investors.

#whitecollarcrime

Sure is we awite the out come

Any more up dates.

Dodgyone

They are being chased by multiple creditors and legal action is being pursued in several jurisdictions.

Dodgyone

And of course they continue to tell everyone that an IPO is just around the corner, they are sitting on a gold mine and they will make all their investors instant billionaires.

Yes they still believe in the dream if it was so real we would all be doing it. Is the legal action in this country or all over.

Dodgyone

All over including here in Ireland

Any news on listing in the Uk

Dodgyone

I think they will find it hard to list with

a) the track record of the directors

b) failed listing in Oz

c) no revenue

d) no assets

e) no money

f) multiple court cases

g) lack of credibility

Multiple court cases how come this company has not been exposed

Dodgyone

As no criminal investigation as of now.

Only creditors chasing their funds.

Expulsion from Australian stock exchange was them getting exposed.

Wonder how much money people invested in cash and do they have a chance of getting it back . Who is the CEO now ids it Kiernan Brenan's Son.

Veritas26

Several million I suspect. No financial institution would lend to a company without audited accounts for 6 years. All the money spent which is why they cannot pay creditors.

So the question is was misrepresented information used to convince investors to part with their cash.