PLAY MONEY
We have previously written about Kalbar’s ability to magically produce money to make their company look like it’s worth more than it is
For example – their allocation of ‘non-cash’ shares to directors and employees
https://www.facebook.com/minefreeglenaladale/posts/1666095056891180
And some time ago we wrote about Kalbar Operations magically finding $147million
Well a bit more investigation has found that the $147million isn’t real money at all. It is just another example of ‘non-cash’ shares – this time allocated by Kalbar Operations to Kalbar Limited.
According to the records 98,201,825 ‘non-cash’ shares in Kalbar Operations were issued to Kalbar Limited in exchange for some ‘contract’ with Appian. You read it right – no money changed hands – KOPL did not suddenly have an extra $147million. (And Kalbar Limited certainly didn’t have the money to pay for those shares. It was play money. In fact without Appian’s money coming in it’s fairly certain that both Kalbar and KOPL would have been considered to be ‘trading while insolvent’. How gullible and negligent are ERR to accept licences and reports that are based on false claims and pretend money
Wouldn’t it be great if we could all say we were multimillionaires and have ERR and DELWP believe us without question. Perhaps then they might start to hear our concerns and start treating our area with some respect.
You can read more about the magical shares and the deal with Appian by clicking the links.
DIRECTORS AND MUSICAL CHAIRS
Click on the chart below to see the many changes Kalbar Operations have made to their directorships since Kalbar signed up with Appian and Appian effectively took control of the company (including deciding who would be appointed CEO).
Talk about confusing – seriously 10 changes of directorships and some seriously questionable dates. A lot of fancy footwork when they were applying to the EPBC and ERR to have Kalbar Operations take over ownership of the Fingerboards Project. Also very strange to have Appian people on as directors before that firm had shares in KOPL!
Is it even legal when 75% of directors in an Australian Pty Ltd company are foreign residents or acting on behalf of a foreign company?
Have our regulators even looked at any of these corporate shenanigans?
Foreign residents’ names are in red. Cessation of directorship is shown with strikethrough.
