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Some Advice Needed Please

[Deleted User]

I've already posted in the Entrepreneur section but not sure if relevant there (or here for that matter)

Hello
I am hoping that some of you can throw some light on this for me please. I have no head for business but I fear the worst in this situation. I had a look at the company concerned website but cant understand what they are about.

Here is what I need help with.

This morning an elderly neighbour was over for tea and a chat. During the course of the conversation he mentioned that he and his son had been to a conference in the midlands with a company named Moralltach.

I am aware that my neighbour and his son are currently experiencing difficult times financially and I fear that what they picked up at this conference can not be good for them.

Here is what he told me:

If he invests €1000 with this company he will be returned €4000 after a period of 6 weeks. I find this part very difficult to believe.

But this part is more worrying.
By making the investment the door is then opened for a loan of €100,000. This loan will be charged at 5%pa and the FULL amount must be returned after 5 years.

He and his son plan on borrowing to purchase young horses (this is their line of work) and to resell at the sales hopefully at profit.

He assures me that no collateral is needed. Again I find this difficult to believe.

Can anyone throw some light on this company and also on the likelihood of this investment and outcomes?

I am genuinely concerned that they are about to be taken advantage of and could lose the little that they have.

Thanks folks.

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Dodgyone

NSX expulsion was due to misrepresentation of info one would suspect

[Deleted User]

How did they get their hands on several million must have been cash investers all over the world and what about property .Did they get too.

Veritas26

They have had six years to get several million so in reality not that much per year.

Cannot verify any properties on the register that they truly own.

The company is only worth something (IMO) if you believe two parties can legally own the same asset in its entirety at the same time.

[Deleted User]

Well I know someone who is convinced and very excited about an up and coming listing

Dodgyone

as has been the case for the last 6 years

if they don’t believe it no one else will

without the story that a listing is just around the corner all that have invested cash for equity would be suing

[Deleted User]

What country are they supposedly listing

Iraq!?

Ha ha your joking 😁

U.K I Think

will be another car crash

notsocutehoor

Moralltach have provided absolute clarity for all current and would be investors in their latest update from November 19th, final interviews completed (probably just the psychometrics tests waiting to be completed), Our Applicant Bank appointed as their new bank (I'll confess that I haven't heard of Our Applicant Bank), project management team preparing the Company for its Listing on the Frankfurt Stock Exchange, a detailed timeline for share listing and commencement date, and lots of good stuff about audits. Full details here https://www.moralltachglobal.net/post/moralltach-update-19th-november-2020

WHAT COULD POSSIBLY GO WRONG

Dodgyone

Yeah that was 14 months ago Nov 2020. Since then nothing at all! No audits filed in Malta ever. No cash. No integrity. No hope

[Deleted User]

14 Months ago What about all the companies that are sueing Am all confused 😕

notsocutehoor

Oops, thought it was from the November just gone, not much happening on their website since then

[Deleted User]

They said in the second half of 2021 they where preparing to list on UK stock exchange with their new merging company William Marshall .This was to be finalised by July 2020 at EGM of Moralltach for ratification. Then a chapter on Moralltach William Marshall and Redspear forming a new company.........

Veritas26

Suing takes time especially when company is registered in Malta. Reckon Maltese registration is deliberate for this very reason

William Marshall walked away. No new company same car crash company

[Deleted User]

William Marshall walked away They where delisted from the Cyprus Stock Exchange same reason as Moralltach where delisted from Australian Stock exchange

[Deleted User]

Any up dates

Dodgyone

There has not been anything of any significance for years.

Of course the directors will continue to spin the same story but in reality they have to. They have made their bed. The bed has no mattress, is on the edge of a cliff in an area known for earthquakes.

[Deleted User]

Apparently they bought a distillery and have a Bank in the UK looking after property protfoilos and investing in Digesters Looking for funding to finance these to increase assets before Listing

Veritas26

A company without audits for 6 years will never get funding from a bank. No bank in the UK would go anywhere near them.

RogerthatNinerone

i'm guessing property owners are hanging in limbo if they're legally bound by the company. Are there restrictions on selling/renting?

Dodgyone

No as the property owners are the property owners two parties cannot own the property.

They can sell, rent or live in the property.

Dodgyone

The fact that the company has zero revenue tells you all you need to know surely

[Deleted User]

Where can you get or see the list of the property they have or so called have .They still have I believe my property on their port folio and I am eager to see this and I am not even invested I nearly did in 2016 but I pulled out.

Dodgyone

Only place you can see details are what they disclosed in their information memorandum for the NSX. You can see some specific properties and the valuations they assign to them. Most of it a work of fiction.

Zero on the Irish property register in the name of the company

[Deleted User]

Found my property still on it since 2016 not that it means anything also well over valued.

Dodgyone

Of course!!!

Dodgyone

That just proves that they included assets in their IM that they have no agreements whatsoever on.

That would mean fraudulent misrepresentation in an Investment Memorandum

[Deleted User]

Yea it would Plenty of them