Serious problems at Purple Lounge

[jetset]

Update

New business deal for Media Corp - perhaps with money coming in the door they will now demonstrate integrity by addressing the Purple Lounge problem and the players who remain unpaid.



Media Corp signs deal with betting channel BoxNation


LONDON (ShareCast) - Media Corp., an AIM-listed online gaming company, said Wednesday it has entered an exclusive agreement with Boxing Channel Media to supply betting services to its TV channel, BoxNation.

The three-year deal marks the firm's first white label contract win - enabling it to capitalise on its Intabet software platform on a revenue sharing basis.

Media Corp. will provide the platform for an internet sportsbook and casino to be integrated with the BoxNation website, offering a full range of sports betting and casino games, with an emphasis on boxing.

Through the servie users will be able to place bets through the proposed BoxNation betting platform.

Phil Jackson, Chairman of Media Corp, said: "This represents the first application of our white label service. We are delighted to win the contract to deliver betting and, over time, casino products to the only dedicated boxing channel in the world.

"BoxNation has a large and growing subscriber base and we believe boxing and betting go hand in hand and we are looking forward to developing a profitable and long term relationship with BoxNation as they grow into a leading sports channel around the world."

The deal is subject to an initial feasibility assessment period of three months.

The share price leapt 25% to 0.15p by 08:55.

 

[specialK]

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Shouldn't we let them know about Purple Lounge story?

 

[vinylweatherman]

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Shouldn't we let them know about Purple Lounge story?

They will delete it pretty quickly. Try sticking it on after office hours on Friday evening, brief summary and link to this thread. With luck, they may not spot it till Monday morning. Even if only a few see it, it's deletion will get noticed, and then questions might be asked.

At it's simplest, just post about them having run Purple Lounge casino in the past, no mention of this scandal, but then invite people to Google "Purple Lounge" where they will find this and other threads about the scandal. Since it involved bettors losing their balances, it will be of interest to those thinking of placing their boxing bets through the Intabet platform as opposed to the many other means available.

 

[Mousey]

...an exclusive agreement with Boxing Channel Media to supply betting services to its TV channel, BoxNation.

Wonder if the Boxnation people have done their homework? Anyone of you folks there across the pond able to write to them and give them a heads up re: the great people they're going to be dealing with?

 

[vinylweatherman]

Wonder if the Boxnation people have done their homework? Anyone of you folks there across the pond able to write to them and give them a heads up re: the great people they're going to be dealing with?

No sign of this on their Facebook site, so maybe too early to post a warning. Best wait until Boxnation actually start to promote this new service before bringing up Purple Lounge. Act too soon, and it gives Media Corp time to run a PR operation to limit the damage by the launch date.

 

[Simmo!]

New business deal for Media Corp - perhaps with money coming in the door they will now demonstrate integrity by addressing the Purple Lounge problem and the players who remain unpaid.

This is something that confuses me a bit. They bought a dodgy company with these outstanding payments. When (or rather, if) they start making decent money, won't they just keep getting sued by those who are still owed from misdemeanours by the previous management?

I know if it I was in that boat, I'd be sitting there watching and and waiting for them to post a profit before steaming on in. Or are they protected from that? And as suggested above, they are going to have this brand problem following them around too.

I find it ironic their share price went up 25% too. It would be far less risky gambling in a casino than it would on MDC shares LOL.

 

[jetset]

Whilst Purple Lounge problems were created by the previous management (Drummond brothers et al), the present management would have been irresponsible had they not carried out due diligence before taking the company over.

Their subsequent decisions placed the Malta operations of Purple Lounge into liquidation and the hands of the Malta liquidation administrators on the grounds that that company had been responsible for the financial side of operations and the player deposits (which were not segregated from the company's operational activities as required by the local regulator, which did not pick up the breach and washed its hands of the issue when the previous management rather conveniently abandoned its licensing).

IMO that demonstrates a cynical manouevreing by the current management, and an intention not to address the problems of players left prejudiced by the Purple Lounge debacle as a whole.

There have been non-specific allegations by Media Corp management laying the blame for everything at the door of the Drummonds and their minions, and there can be little doubt that they carry the blame for the scandal and the way in which players were misled initially indicates questionable behaviour; but the fact remains that the present management also bears responsibility imo for subsequent decisions which still leave players unsatisfied through moves like the Malta liquidation.

And we have seen little evidence so far of either a legal pursuit of the Drummonds for misleading the present management on the acquisition of the company and its subsidiaries like Purple Lounge, or any sort of communication giving updates on the progress and findings of the liquidators. Neither have I seen any acknowledgement of the real plight of the players or any sort of commitment that efforts will be made to put things right for them.

That creates a perception that the current management would rather just see the PL problem go away at no cost to themselves.

Yet they remain involved in the gambling industry with their Intabet product.

That sort of background raises the question of whether they will stand by and do little if anything for their customers if Intabet goes belly up, and if I was about to do business with the company I would really be doing some thorough dd that might include a Google search as well as poring over the books and licensing documentation (it's clear that the Malta licensing of PL was pretty much valueless from the aggrieved players' point of view.)

I suspect that technically these guys and their advisers have used every legal clause and provision available to insulate themselves and the parent company from the consequences of their actions over subsidiaries like Purple Lounge.

Unpalatable, outrageous and essentially unfair, I know, but that's business and that's unfortunately the status quo.

 

[requiem]

Thank you for your comments. I have sent a message through Purple's representative on casinomeister, thanks for that link.
Details - My original withdrawal was put in 7 Feb. It was for 3,500 and involved no bonus. I have played there since Nov and I am winner about 500 overall. Recently they have stopped responding to my emails.

Sad to hear about cases like this. Did you get your money in the end? Over a month is not ok.

 

[vinylweatherman]

Whilst Purple Lounge problems were created by the previous management (Drummond brothers et al), the present management would have been irresponsible had they not carried out due diligence before taking the company over.

Their subsequent decisions placed the Malta operations of Purple Lounge into liquidation and the hands of the Malta liquidation administrators on the grounds that that company had been responsible for the financial side of operations and the player deposits (which were not segregated from the company's operational activities as required by the local regulator, which did not pick up the breach and washed its hands of the issue when the previous management rather conveniently abandoned its licensing).

IMO that demonstrates a cynical manouevreing by the current management, and an intention not to address the problems of players left prejudiced by the Purple Lounge debacle as a whole.

There have been non-specific allegations by Media Corp management laying the blame for everything at the door of the Drummonds and their minions, and there can be little doubt that they carry the blame for the scandal and the way in which players were misled initially indicates questionable behaviour; but the fact remains that the present management also bears responsibility imo for subsequent decisions which still leave players unsatisfied through moves like the Malta liquidation.

And we have seen little evidence so far of either a legal pursuit of the Drummonds for misleading the present management on the acquisition of the company and its subsidiaries like Purple Lounge, or any sort of communication giving updates on the progress and findings of the liquidators. Neither have I seen any acknowledgement of the real plight of the players or any sort of commitment that efforts will be made to put things right for them.

That creates a perception that the current management would rather just see the PL problem go away at no cost to themselves.

Yet they remain involved in the gambling industry with their Intabet product.

That sort of background raises the question of whether they will stand by and do little if anything for their customers if Intabet goes belly up, and if I was about to do business with the company I would really be doing some thorough dd that might include a Google search as well as poring over the books and licensing documentation (it's clear that the Malta licensing of PL was pretty much valueless from the aggrieved players' point of view.)

I suspect that technically these guys and their advisers have used every legal clause and provision available to insulate themselves and the parent company from the consequences of their actions over subsidiaries like Purple Lounge.

Unpalatable, outrageous and essentially unfair, I know, but that's business and that's unfortunately the status quo.

The one thing that sometimes makes companies change their minds about this kind of thing is a widespread customer revolt to the extent that keeping to the status quo is more expensive than putting right the previous wrongs.

Given that they have reentered the same industry leaves them vulnerable to a customer revolt.

They are not targeting seasoned players, but those who watch sports and might become NEW gamblers on the outcomes of their favourite events. This audience probably has no idea about the murky past of Intabet's parent company, and may well believe the BS about "players' funds are completely secure", a statement that turned out to be false with Purple Lounge, and of course likely to be equally false for ANY entity licensed by the LGA.

As well as seasoned players steering clear, new players need educating.

Hopefully, mentioning Purple Lounge, Media Corp, and Intabet in the same article will encourage Google searches on Intabet to present this historical information to new players.

 

[jetset]

Have to agree with VWM here - it's important that for as long as Purple Lounge players remain unpaid, those responsible be reminded time and time again that this is not one of those issues that can be brushed aside and forgotten.

And new players entering the orbit of this company need to be aware that when the chips are down they are clearly not the primary concern of the management (which of course they should be).

Even if you are not personally impacted by this PL debacle, the callous manner in which players have been treated has to evoke a sense of outrage.

IMO Media Corp could do so much good for their reputation and future presence in the industry by addressing their unpaid player problem in a positive manner instead of ducking and diving through a liquidation process that we all know is going to leave players who trusted the site out of pocket.

Gambling is essentially a business based on trust - especially from the player perspective. Dodgy managements too often lose sight of that basic truth and the lasting harm that can result from treating ordinary players with contempt.

 

[MisterBJ]

Bump... Since Purple Lounge was mentioned in the Betfair's new thread.

 

[jetset]

Update

Latest stock exchange notification from Media Corp, which appears to have enough money to launch new products whilst Purple Lounge players remain out in the cold. It is also issuing a slew of shares to pay an un-named former consultant - I wonder who that could be?

This new offering has a GBP 1 million jackpot.


RNS Number : 7361C
Media Corporation PLC
19 April 2013

Media Corporation Plc

GoalMillions Launch and Issue of Equity

GoalMillions Launch

Media Corp, the AIM quoted online gaming group, announces that GoalMillions, the Company's online football based skill game, will go live today after a successful beta trial.

Players can win one of two games each offering a £1 million jackpot, players simply have to correctly pick the six quickest teams to score ("Quick Fire") or the six teams to score last ("Golden Goals"), in any order. Players have a choice of 48 teams from a selection of 24 fixtures across the English and Scottish football leagues. In the event that there are multiple winners for either game, the respective £1million prize will be shared equally between those players.

Draws to win the jackpot will be made each week from players correctly selecting that week's Quick Fire and Golden Goals teams from 19 April 2013 until the end of the season, with the final draw being on 5 May 2013. The Company is offering selected players a number of bonus options including bonus bets and incentives for preregistered players.

Interested parties can play at www.goalmillions.com.

This follows a contract win with Boxing Channel Media Limited to supply betting services to its TV channel, BoxNation, as announced on 20 March 2013.

This is the Company's first white label contract win, enabling Media Corp to capitalise on its Intabet software platform on a revenue sharing basis. The Company has a number of proposals in front of customers and hopes to be able to announce further details of these new opportunities in due course.

Phil Jackson, CEO, Media Corp plc said:

"These developments represent a positive step forward for the Company following its decision to dispose of its non-core assets. Media Corporation is now focusing on commercialising existing intellectual property and developing further new technologies specifically in the gaming arena."

Issue of Equity

Media Corp also announces it has issued 10,000,000 new ordinary shares as the second of a two-part milestone payment to a former consultant for services previously provided to the Company.

Application has been made for the new ordinary shares to be admitted to trading on AIM, with dealings expected to commence on 24 April 2013.Following admission of the new ordinary shares, the Company will have a total of 1,304,625,034 ordinary shares of 0.1p each in issue. This figure may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA's Disclosure and Transparency Rules.

 

[$97 All in.]

MDC shares were temporarily suspended at 12:45 today.

TIDMMDC

RNS Number : 6175D

AIM

30 April 2013

NOTICE

30/04/2013 - 12:45pm

TEMPORARY SUSPENSION OF TRADING ON AIM

MEDIA CORPORATION PLC

Trading on AIM for the under-mentioned securities has been temporarily suspended from 30/04/2013 12:45pm, pending publication of the company's annual audited accounts.

Ordinary shares of 0.1p each, fully paid (0052830)(GB0000528306)

If you have any queries relating to the above, please contact the company's nominated adviser on 020 7796 8800.

This information is provided by RNS

The company news service from the London Stock Exchange

END

 

[dunover]

MDC shares were temporarily suspended at 12:45 today.

TIDMMDC

RNS Number : 6175D

AIM

30 April 2013

NOTICE

30/04/2013 - 12:45pm

TEMPORARY SUSPENSION OF TRADING ON AIM

MEDIA CORPORATION PLC

Trading on AIM for the under-mentioned securities has been temporarily suspended from 30/04/2013 12:45pm, pending publication of the company's annual audited accounts.

Ordinary shares of 0.1p each, fully paid (0052830)(GB0000528306)

If you have any queries relating to the above, please contact the company's nominated adviser on 020 7796 8800.

This information is provided by RNS

The company news service from the London Stock Exchange

END

Surely a work of such cunning and fiction Shakespeare would have been proud....

 

[jetset]

Bump - still suspended....still looking out for that re-brand to Inta plc.

 

[jetset]

Is this the same Phil Jackson?

StockMarketWire.com

The Weather Lottery has acquired Poseve Ltd for £0.35 million in an all-shares deal, and named Phil Jackson as its CEO.

The price tag for Poseve would be satisfied by the issue of 236.6 million new shares at 0.15p each in TWL. Poseve brings with it a set of unique software products, focused on lottery games and payment processing technologies.

TWL said Poseve was 100% owned by James Rose, who would join the management team of Prize Provision Services Limited ("PPS"), the company's wholly owned lottery management subsidiary.

 

[jetset]

Answering my own question - yes this is the same Media Corp plc Phil Jackson:


THE WEATHER LOTTERY ACQUIRES LOTTERY MANAGEMENT FIRM


And Media Corp plc chairman Phil Jackson is named as CEO


Online gambling group The Weather Lottery (TWL) surfaced in a business press statement Thursday, announcing the acquisition of Poseve Ltd for GBP 350,000 in an all-shares deal, and naming Phil Jackson - chairman of the controversial Media Corp plc internet gambling group, as its CEO.

The price tag for Poseve will be satisfied by the issue of 236.6 million new shares at 0.15p each in TWL to Poseve owner James Rose, representing a 29.75 percent share in TWL.

The company was incorporated on 26 April 2012, and has yet to produce any audited accounts. However, Poseve has had sales from the date of incorporation of over GBP 700,000 and has achieved monthly profitability at the operating level.

During April 2013 an operating profit of GBP 25,000 was achieved on sales of GBP 92,000. Poseve has long term debt of approximately GBP 350,000, and cash of a materially similar amount.

Poseve brings with it a set of unique software products, focused on lottery games and payment processing technologies, the TWL announcement claimed.

"Poseve have a range of lottery, skills and hybrid games that will provide TWL a significant opportunity to better serve its existing customers and introduce new games for existing societies as well as opening new revenue streams appealing to new customers," the company statement explained.

Poseve is 100 percent owned by James Rose, who joins the management team of Prize Provision Services Limited, the company's wholly owned lottery management subsidiary.

The statement reveals that 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.

Jackson, who took over the leadership of Media Corp plc at the height of the controversial Purple Lounge Poker liquidation scandal has been punting the new Intabet online gambling product and now widens his involvement in the online gambling industry in assuming the responsibilities of CEO at The Weather Lottery.

His biography boasts over twenty years of experience in general management, sales and marketing, during which he has held senior international marketing positions for UnitedHealth Group, driving their clinical research and data management group revenues from $50 million to $1 billion in the period 2004-2010.

For the last three years, Jackson has been advising on the corporate development of betting software group, Intabet, as well as advising specialist health analytics group, LA-SER, through international expansion. He is a founder of Docobo, a leading eHealthcare company, and was a founder and former CEO of Jackson Beazeley Limited, a specialist manufacturer and international distributor of nursery products.

James Rose will replace Jeff Williams as managing director of PPS. Williams, whose financial assistance has done a great deal to enable the company to survive will continue as a consultant to oversee the changeover. Rose will assume the regulatory responsibilities to the Gambling Commission presently held by Williams. In this he will be assisted by lottery industry expert Garth Caswell who has also agreed to become a consultant to the company.

The UK Gambling Commission has confirmed that PPS is in full compliance with its licence and that they are happy with the changes in management.

Lord Tim Razzall and Andrew Flitcroft remain in their roles as Non-Executive Chairman and Finance Director respectively.

 

[Jasminebed]

Oh goody, glad to see this crook getting into the payment processing solution field as well.

Thanks for keeping this issue in the forefront Jetset.

 

[jetset]

Meanwhile Media Corp shares remain suspended due to financial reportage non-compliance.

 

[Simmo!]

Oh goody, glad to see this crook getting into the payment processing solution field as well.

Thanks for keeping this issue in the forefront Jetset.

In his defence, he just ended up with a company that shafted a load of people prior to his taking over. You could argue that was an ill-advised decision but that doesn't make him a crook. He seems to be juggling a lot of balls though.

 

[jetset]

IMO he has shown little regard for the plight of his company's players, and the manner in which the liquidation was engineered once he had taken over ensured that PL players would be left out in the cold. IMO his first priority with the cash he brought into the company should have been to meet the PL obligations to unpaid players instead of getting involved in further ventures and strategies.

He has failed to communicate further on what is happening with the Malta liquidator, leaving one with the impression that he is not overly concerned that he has left players to their own devices, whilst he continues to function in the industry with Intabet, Goal Millions and now The Weather Lottery, which has also had its share of tough times, if memory serves me well.

In addition, I have to wonder about his due diligence before getting involved with the Drummonds and Media Corp, and the current screw-up which has seen his company's shares suspended due to allegedly financial reportage shortcomings.

IMO his apparent lack of respect for the players does not engender a great deal of confidence in his future actions should another one of his companies bite the dust.

 

[whatever]

IMO his apparent lack of respect for the players does not engender a great deal of confidence in his future actions should another one of his companies bite the dust.

As a confirmation to the above,

I've been in London the last few days and this is the closest I could get to MediaCorp:



The company is located on a shopping street in central London, so it wasn't hard to find. I rang, but nobody answered. I then called and asked if I can come up and speak to an executive. Apparently Phil Jackson wasn't there this Tuesday around 11 AM and according to the secretary there wasn't anybody else there I could talk to.

She then asked if she can take my details and I told her I am one of the Purple Lounge players to whom MDC owes money. She didn't know anything at all (!) about Purple Lounge, because she's been working there for the last couple of months. She promised to pass my details to Phil Jackson as soon as he shows up... aaaand that's about it. Nobody called me after that.

Edit: I see Vamagaming is now the company behind Goalmillions, not MediaCorp: Outdated URL (Invalid)

 

[Jasminebed]

My apologies for calling Mr. Jackson a crook. But if you lie down with enough dogs, you get fleas.

These corporate structures appear to be incestuous enough that common business ethics must be a factor in choosing executives and major shareholders.

 

[jetset]

As a confirmation to the above,

I've been in London the last few days and this is the closest I could get to MediaCorp:

View attachment 39945

The company is located on a shopping street in central London, so it wasn't hard to find. I rang, but nobody answered. I then called and asked if I can come up and speak to an executive. Apparently Phil Jackson wasn't there this Tuesday around 11 AM and according to the secretary there wasn't anybody else there I could talk to.

She then asked if she can take my details and I told her I am one of the Purple Lounge players to whom MDC owes money. She didn't know anything at all (!) about Purple Lounge, because she's been working there for the last couple of months. She promised to pass my details to Phil Jackson as soon as he shows up... aaaand that's about it. Nobody called me after that.

Edit: I see Vamagaming is now the company behind Goalmillions, not MediaCorp: Outdated URL (Invalid)

Lordy - Vama Gaming - another one to keep track of in this apparently never-ending round of re-brands and corporate manoeuvring!

Not much information upfront here: Outdated URL (Invalid) except that the company is in the online casino, sportsbetting and mobile business (all the more reason to keep an eye on it, giving the PL debacle) and the fact that it claims to be licensed by the Isle of Man.

 

[jetset]

Vamagaming

We may well see Vamagaming surfacing again in the future, so for the record:

Vamagaming Ltd was set up on 05 Feb 2013. Its current status is listed as "Live" and it currently has one director - James Rose, who was involved in The Weather Lottery-acquisition of Poseve Ltd deal reported at post#567 above.

Registered Address

45 Carnaby Street, London, W1f 9pp - the same as Media Corp plc.

Annual Returns: Unknown

Annual Accounts: Unknown

"Vamagaming Ltd is run by 1 current member. It has no share capital. It is not part of a group."

Company number 08390297

Capital: £100.00 on 5 Feb 2013

07/02/2013 New Board Member Mr James Rose appointed

Date Of Birth: Dec-1979

Age: 33 Years

Nationality: British

Country of Residence: UK

Occupation: Company director.

Marketing executive is listed on LinkedIn as Fred Motley, who has been with Vama for the last five months (it was only incorporated in February 2013) and also appears to be the "Digital Marketing Executive" for Jackson's Intabet company. Motley graduated from the University of Newcastle-upon-Tyne with a BA in Politics in 2011.

Then we have Boris Ajzenkol, the Affiliate Manager at Vamagaming Ltd for the last 7 months. He graduated with a BA (Hons)International Studies with Political Science from Birmingham University in the UK in 2010 and has previously worked for Wizardbet and Echobet.

His duties at Vamagaming have included:

- Viral marketing of the business through Internet streams.
- Analysis of internet traffic in order to identify web channels in which we could participate (measured in terms of volume, subject matter & user activity).
- Advanced application of supporting software tools such Access and Excel, and statistical modelling techniques such as Monte Carlo simulations.
- Formulation of conclusions & recommendations to senior stakeholders.

The question is, how does a seemingly miniscule company like this achieve Isle of Man licensing?

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And did the Isle of Man regulator link the dots between Vamagaming - Poseve - Media Corp plc - Intabet - Phil Jackson - Purple Lounge?

 

[The Dude]

I've removed the posts that addressed the current legal situation between the owners and other parties. Since this is currently in litigation, I would appreciate the conversation to return to what it was and should be about (getting players paid) and not a derailment of a litigious nature. Thank you.

 

[Troy Tempest]

I've removed the posts that addressed the current legal situation between the owners and other parties. Since this is currently in litigation, I would appreciate the conversation to return to what it was and should be about (getting players paid) and not a derailment of a litigious nature. Thank you.

Well there you go. Money trumps everything. Bullies win and free speech loses. Thanks for nothing which is probably what Purple Lounge players will get. I will continue therefore without your support. Good luck and remember - stay away from the big boys using nasty words with fancy lawyers - you might get hurt really helping players rather than talking about it.

 

[The Dude]

Well there you go. Money trumps everything. Bullies win and free speech loses. Thanks for nothing which is probably what Purple Lounge players will get. I will continue therefore without your support. Good luck and remember - stay away from the big boys using nasty words with fancy lawyers - you might get hurt really helping players rather than talking about it.

There is nothing in free speech that permits defamatory statements to go unchecked. If you have the gonads that you claim you have, register a domain - (I'd suggest something like therealpurpleloungedirt.co.uk), start your own blog (software is usually free), post away until the cows come home, and then start a new thread here and announce your website with a link. I don't have a problem with that since this forum is here to provide information and promote community support.

What you won't do is use this website to push your agenda; I take all the risk while you hide behind anonymity. That's bullshit. And taking a parting shot at your host when you clearly knew that you were pushing the envelope is a bit over the top.

 

[Troy Tempest]

There is nothing in free speech that permits defamatory statements to go unchecked. If you have the gonads that you claim you have, register a domain - (I'd suggest something like therealpurpleloungedirt.co.uk), start your own blog (software is usually free), post away until the cows come home, and then start a new thread here and announce your website with a link. I don't have a problem with that since this forum is here to provide information and promote community support.

What you won't do is use this website to push your agenda; I take all the risk while you hide behind anonymity. That's bullshit. And taking a parting shot at your host when you clearly knew that you were pushing the envelope is a bit over the top.

Excellent advice I feel the website. I will do that.

Gonads - why did you not ask for evidence of my claims. You would then be convinced and could help lead the fight against this injustice. Instead you have parked yourself at the back of this fight.

 

[vinylweatherman]

Excellent advice I feel the website. I will do that.

Gonads - why did you not ask for evidence of my claims. You would then be convinced and could help lead the fight against this injustice. Instead you have parked yourself at the back of this fight.

It's not his job, this is a discussion forum.

It's YOUR job to substantiate the claims by linking to reference material.

What you should do is outmanouver the bully boys by setting up your own domain and informing us here via a link. Register said domain in the US where the free speech rules are much stronger, and therefore it is much harder to bully a website into removing content deemed defamatory.

Bryan was knobbled by a recent UK law introduced this year, and it would cover the owner of any domain registered within the EU.

If you do as advised, you remove any legal risk from Bryan, and take it on yourself. Having Bryan sued and financially ruined would cause this site to be shut down, hardly a helpful thing for players.

If you set up your own domain in the US, you can still make it largely anonymous, and the bully boys would have to force the hosting service to pull down said domain, which would be pretty hard.

In any case, you won't be anonymous to Media Corp lawyers as they can figure out who you are from what you have already posted.

For any player wanting to use what you posted to help their cause, they will need the evidence, not just the postings of an anonymous member of a forum.

 

[Przecinek]

Removing information doesn't look right. I've heard lots of casinos / players being called thiefs or liers etc. over here without any court evidence and their posts were not removed. This seems like a typical case of gagging and silencing those that have some merit. And no, this site wouldn't get shut down, but mediacorp sure wants us to think that way.

 

[vinylweatherman]

Removing information doesn't look right. I've heard lots of casinos / players being called thiefs or liers etc. over here without any court evidence and their posts were not removed. This seems like a typical case of gagging and silencing those that have some merit. And no, this site wouldn't get shut down, but mediacorp sure wants us to think that way.

That's because Bryan knows when a tactical retreat to regroup is the best option. Normally, the policy is that info is never removed, threads are just locked, or debate steered in a different direction.

It's a hollow victory in any case, because it was up, and we read it, and having it removed under duress only makes it look worse for them. We now know they are reading this at the highest level, yet they STILL don't give a stuff about the players that got screwed. It's a sign that they will wheel out the "dirty tricks" again if players find another means to pursue the return of their monies, so they can be prepared for a dirty fight rather than get caught napping by any legal stunt that might be pulled to foul up any court action.

 

[$97 All in.]

Media Corporation PLC Trading Update - Cessation of Business

Media Corporation PLC Trading Update - Cessation of Business

Media Corporation PLC Trading Update - Cessation of Business
Date : 23/08/2013 @ 17:45
Source : UK Regulatory (RNS & others)
Stock : Media Corp (MDC)
Quote : 0.095 0.0 (0.00%) @ 05:00
HOME » LSE » LSE » Media Corporation share price

Media Corporation PLC Trading Update - Cessation of Business
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TIDMMDC

RNS Number : 4415M

Media Corporation PLC

23 August 2013

Media Corporation plc

("Media Corp" or the "Company")

Trading Update

Cessation of Business

Further to the trading update of 5 August 2013 the directors of the Company (the "Directors") have now concluded their review of Company's current operations and prospects. The impact of increasing technology, hosting and operating charges on the Company's limited financial resources, coupled with the inability of the Company to obtain an appropriate Gaming License in its own right are proving prohibitive to the Company being able to launch the Intabet platform in any meaningful capacity as previously envisaged. The Directors believe that continued development of Intabet would prove a drain on the Company that it cannot sustain in the absence of meaningful revenues or investment. Together with continued legacy issues facing the Company taking up substantial amounts of management time detracting their attentions from the operating business, the Directors have taken the difficult decision to cease development and operation of the Intabet platform and substantially all of the Company's trading business.

As a result the Company will not be in a position to deliver the betting platform to Box Nation. Goal Millions will continue to operate under licence through Vamagaming, but with next to no promotional budget, its contribution to the Company's revenue stream is expected to be negligible. With Media Corp now having ceased substantially all of its trading business the Company will now become an investing company under rule 15 of the AIM Rules for Companies. In doing so, the Company must adopt an investing policy which will be subject to shareholder approval at a general meeting. Following the adoption of an investing policy it is likely that the Company will dispose of its interest in Intabet and its associated intellectual property.

As disclosed on 5 August, since being suspended the Company has been approached by a number of parties with proposals for Media Corp that might represent better prospects for the shareholders. It is with this in mind, and one proposal in particular which would bring with it new directors and strategic investment, that the Directors have taken this action. The Directors believe the continuation of the existing business is no longer viable without material investment, the absence of which would risk the solvency of the Company.

Notice of a general meeting of the Company (the "Circular") detailing the proposed investing policy will be sent to shareholders in due course and a further announcement made at that time. The Circular will also outline resolutions to reorganise the share capital of the Company and increase the authorities to allow it to allot shares for cash, enabling it to raise sufficient funds to begin implementing the investing policy.

It is the Directors' intention to publish the report and accounts for the period ended 30 September 2012 and the interim accounts for the period ended 31 March 2013 prior to the general meeting called by the Circular.

Contact

Media Corporation Plc Tel: +44 207 618 9000

Phil Jackson - Chairman

Northland Capital Partners Limited Tel: + 44 207 796 8800

Luke Cairns / Lauren Kettle (Nominated Adviser)

XCAP Securities Tel: + 44 207 101 7070

Jon Belliss (Joint Broker)

Bishopsgate Communications Tel: + 44 207 562 3350

Nick Rome

This information is provided by RNS

The company news service from the London Stock Exchange

END

 

[jetset]

Quote: Together with continued legacy issues facing the Company taking up substantial amounts of management time detracting their attentions from the operating business, the Directors have taken the difficult decision to cease development and operation of the Intabet platform and substantially all of the Company's trading business. Unquote

This is not going to make much difference to the screwed Purple Lounge victims, but it's nice to see the biters bitten by reputation.

Remember the names of those businessmen associated with this company past and present - they have a habit of bouncing back in another guise.

 

[Troy Tempest]

Purple Bellend

Quote: Together with continued legacy issues facing the Company taking up substantial amounts of management time detracting their attentions from the operating business, the Directors have taken the difficult decision to cease development and operation of the Intabet platform and substantially all of the Company's trading business. Unquote

This is not going to make much difference to the screwed Purple Lounge victims, but it's nice to see the biters bitten by reputation.

Remember the names of those businessmen associated with this company past and present - they have a habit of bouncing back in another guise.

YES REMEMBER:

JASON KINGSLEY DRUMMOND

JUSTIN PIERS DRUMMOND

NILESH JAGATIA

THIS WILL NEVER GO AWAY UNTIL YOU DO THE RIGHT THING. IF YOU DO NOT DO THE RIGHT THING BELIEVE ME YOU WILL STILL HAVE TO PAY.

 

[vinylweatherman]

So, why would they need a gaming license in their own right when they were claiming that their Intabet would merely be a portal, not an entity taking wagers in it's own right. Surely, Box Nation would need the gaming license in this instance.

I am sure they also issued a load of new shares, luring investors to part with even more money. How many were fooled into pouring good money into this sinking ship?

 

[jetset]

If this company and its management is going into the investment business, as this notification suggests, one has to wonder whether that will include the online gambling industry...if it does, it may be wise to continue monitoring Media Corp activities in order to pick up advance signals of any actions that might again endanger the welfare of players.

 

[vinylweatherman]

If this company and its management is going into the investment business, as this notification suggests, one has to wonder whether that will include the online gambling industry...if it does, it may be wise to continue monitoring Media Corp activities in order to pick up advance signals of any actions that might again endanger the welfare of players.

They don't have the best of track records when it comes to investing either, so who on earth would trust them with investing their own money?

They would also need a license from the FCA (or the other one, not too sure) if they are going to tout for business that involves investing on behalf of others.

They seem to be resisting the inevitable, and should call in liquidators to put an end to the long running fiasco, and allow all former creditors a fair chance to get back at least something of what this company has swallowed.

They have already tried the "clean sweep" of the boardroom, and it didn't work. Why should it work a second time around?

 

[Simmo!]

My guess is that the new guys bought Media Corp without realising the full implications of the previous issues, realised that even if they did get a product launched they would face unviable liabilities so they decided to close it down, sell the technology and re-invent the wheel.

On that assumption, the logical step would be to sell the tech to somewhere where it can't be compromised by past misdemeanors and switch allegiances. Meanwhile, to stop the wolf-pack following, Media Corp is re-invented and ticks along in a new guise to leave the investors behind and to run without the Purple monkey on it's back anymore.

Forgetting to file the accounts conveniently bought the time needed too

Either way, you can't really blame the new directors for what happened before IMO. You could argue they rushed in to the reverse takeover with their eyes shut but they appear to have found a way out that's legit, even if it's going to p*ss off some people. The bottom line is - as Troy Tempest says above - that the original directors are the ones that should be held accountable.

 

[jetset]

I'm afraid I can't agree with any suggestion that the present management is blameless - the way I see it, these guys are experienced businessmen who should have done their homework on the Media Corp acquisition (it's not that hard to check out a potential acquisition and the personalities involved these days).

The present management is the one that sent Purple Lounge into this Malta-UK liquidation that has so far certainly been of little benefit to the aggrieved players. I haven't seen too much evidence of player care and sensitivity from them either, or for that matter prioritising PL player grievances...and what happened to the action they were at one time considering against the former directors?

In my opinion, such conduct deserves a black mark in addition to the actions of the former directors and the corporate shenanigans that appear to have been going on throughout.

 

[vinylweatherman]

I'm afraid I can't agree with any suggestion that the present management is blameless - the way I see it, these guys are experienced businessmen who should have done their homework on the Media Corp acquisition (it's not that hard to check out a potential acquisition and the personalities involved these days).

The present management is the one that sent Purple Lounge into this Malta-UK liquidation that has so far certainly been of little benefit to the aggrieved players. I haven't seen too much evidence of player care and sensitivity from them either, or for that matter prioritising PL player grievances...and what happened to the action they were at one time considering against the former directors?

In my opinion, such conduct deserves a black mark in addition to the actions of the former directors and the corporate shenanigans that appear to have been going on throughout.

Why not just liquidate the whole company and start again from scratch. I can only imagine that the current machinations are because there is still significant value in what's left, and a liquidation would see it all evaporate.

A full liquidation would at least draw a line under this whole affair, and detach whatever new venture the new directors and owners wish to pursue from the baggage of the old company.

If there IS still some value, then morally at least it isn't theirs to play investment gurus with, it belongs to those screwed over by the former directors, and the new team should put things right by their customers, and then go after the old directors for reimbursement.

It seems to me that the fact that aggrieved players refused to just roll over and accept that they had been screwed is what eventually torpedoed their plans for Intabet, and they needn't think that those players will now suddenly fade away to lick their wounds just because they have delivered one setback, and watch the company prosper on the back of money that isn't morally theirs in the field of investment.

There is a moral code that customers and creditors come before shareholders, and it looks like this company has ruthlessly exploited various loopholes to reverse this.

 

[Troy Tempest]

YES REMEMBER:

JASON KINGSLEY DRUMMOND

JUSTIN PIERS DRUMMOND

NILESH JAGATIA

THIS WILL NEVER GO AWAY UNTIL YOU DO THE RIGHT THING. IF YOU DO NOT DO THE RIGHT THING BELIEVE ME YOU WILL STILL HAVE TO PAY.

Of course one should also always remember the role played by CHRISTOPHER SIMON GORMAN OBE another previous Media Corporation director.
He was the man who played a major role in selling Purple Lounge to Media Corporation for £1 (one pound) after he claimed to have turned down a previous offer that valued Purple Lounge at £30 million (yes thirty million pounds). When he moved the license from Curacao to Malta there were already shortfalls in player funds created by GORMAN and his honchos using player funds to cover operating losses.

CHRISTOPHER SIMON GORMAN OBE has already been involved in a high profile High Court case in relation to the Gadget Shop where he was accused of dishonesty (JASON KINGSLEY DRUMMOND did launch a High Court action against a man dying of cancer who he claimed did not build his swimming pool correctly!) CHRISTOPHER SIMON GORMAN OBE had a little difficulty in Florida. The details can be found easily by typing "chris gorman" into google. Perhaps the mug shots taken by the police are how we should all think of GORMAN and his wife. Maybe OBE really means One Blowjob Extra.

 

[vinylweatherman]

It seems one case (the sordid sex one) was dropped, and his wife agreed to some kind of community service in order to avoid a trial. The pair WON the case involving the Gadget Shop, but did themselves no favours in doing so.

This is perhaps more relevant (Telegraph, April 2007)

Virgin Games operates casino, bingo and poker games. Another Gorman venture, Purple Lounge, is an upmarket online poker site, with links to yet another Gorman investment, the concierge service Quintessentially. There's method to his apparently scattergun investment portfolio.

"I've got seven companies on the go at the moment," Gorman says, checking his card, "and I'm working on another big one.

"It's a numbers game, some of them will fail along the way. But if every one failed I wouldn't give up, I'd go and do something else. I'm not ready to retire to Spain yet."

This is the most damning bit "It's a numbers game, some of them will fail along the way." It demonstrates his attitude to the customers of those companies that end up failing, it's no accident, but the aggressive way he does business by "playing the numbers game" to rely on the one or two ventures that succeed, but with a lack of consideration for the customers that end up losing out when the rest fail.

He is his own worst enemy, allowing his "racy" private life to interfere with his public credibility. Like anyone in the public eye, he is under greater scrutiny by the media than the average family from "up the road", and no doubt he has made many enemies because of the way he does business, who will leap at the chance to catch him with his proverbial pants down.

The initial "sex scandal" looks pretty bad, but if you look at the world of celebrity, it's pretty "normal" to be getting up to this kind of thing, and getting caught at it, usually by the paparazzi rather than the police.

 

[Troy Tempest]

Of course one should also always remember the role played by CHRISTOPHER SIMON GORMAN OBE another previous Media Corporation director.
He was the man who played a major role in selling Purple Lounge to Media Corporation for £1 (one pound) after he claimed to have turned down a previous offer that valued Purple Lounge at £30 million (yes thirty million pounds). When he moved the license from Curacao to Malta there were already shortfalls in player funds created by GORMAN and his honchos using player funds to cover operating losses.

CHRISTOPHER SIMON GORMAN OBE has already been involved in a high profile High Court case in relation to the Gadget Shop where he was accused of dishonesty (JASON KINGSLEY DRUMMOND did launch a High Court action against a man dying of cancer who he claimed did not build his swimming pool correctly!) CHRISTOPHER SIMON GORMAN OBE had a little difficulty in Florida. The details can be found easily by typing "chris gorman" into google. Perhaps the mug shots taken by the police are how we should all think of GORMAN and his wife. Maybe OBE really means One Blowjob Extra.

JASON KINGSLEY DRUMMOND also tried to "do" the HM Revenue and Customs out of millions by setting up a spurious insurance loss. Complete manipulation to take money from the public purse that did not belong to him. The Judge's saw right through the whole charade - twice. Manipulation? Not his money? All sounds very familiar and consistent. A "Leopard" really does not change it spots.

JASON KINGSLEY DRUMMOND

JUSTIN PIERS DRUMMOND

NILESH JAGATIA

CHRISTOPHER SIMON GORMAN OBE

THE QUESTIONS REMAIN AND YOU WILL HAVE TO ANSWER.

 

[Troy Tempest]

Of course one should also always remember the role played by CHRISTOPHER SIMON GORMAN OBE another previous Media Corporation director.
He was the man who played a major role in selling Purple Lounge to Media Corporation for £1 (one pound) after he claimed to have turned down a previous offer that valued Purple Lounge at £30 million (yes thirty million pounds). When he moved the license from Curacao to Malta there were already shortfalls in player funds created by GORMAN and his honchos using player funds to cover operating losses.

CHRISTOPHER SIMON GORMAN OBE has already been involved in a high profile High Court case in relation to the Gadget Shop where he was accused of dishonesty (JASON KINGSLEY DRUMMOND did launch a High Court action against a man dying of cancer who he claimed did not build his swimming pool correctly!) CHRISTOPHER SIMON GORMAN OBE had a little difficulty in Florida. The details can be found easily by typing "chris gorman" into google. Perhaps the mug shots taken by the police are how we should all think of GORMAN and his wife. Maybe OBE really means One Blowjob Extra.

JASON KINGSLEY DRUMMOND was in the High court twice as a result of a tax case with HMRC. He lost twice. The Judge's concerned did not accept that he was using a legitimate tax avoidance method. The tactics used were highly questioned.

JASON KINGSLEY DRUMMOND. JUSTIN PIERS DRUMMOND. NILESH JAGATIA. CHRISTOPHER SIMON GORMAN OBE. These were the directors of Media Corporation PLC who did not keep Purple Lounge players' funds segregated, keeping the funds in UK company bank accounts, ultimately causing loss to those players and Media Corporation shareholders. If they were acting fraudulently this could mean that they personally not Purple Lounge or Media Corporation could be responsible for the losses of players and shareholders. This would date back to 2009 or further and could involve tens of millions of pounds.

 

[$97 All in.]

JASON KINGSLEY DRUMMOND was in the High court twice as a result of a tax case with HMRC. He lost twice. The Judge's concerned did not accept that he was using a legitimate tax avoidance method. The tactics used were highly questioned.

JASON KINGSLEY DRUMMOND. JUSTIN PIERS DRUMMOND. NILESH JAGATIA. CHRISTOPHER SIMON GORMAN OBE. These were the directors of Media Corporation PLC who did not keep Purple Lounge players' funds segregated, keeping the funds in UK company bank accounts, ultimately causing loss to those players and Media Corporation shareholders. If they were acting fraudulently this could mean that they personally not Purple Lounge or Media Corporation could be responsible for the losses of players and shareholders. This would date back to 2009 or further and could involve tens of millions of pounds.

Strangely there's no mention of the HMRC case or management travails of MDC on Jason Drummond's wiki page -

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.

 

[vinylweatherman]

JASON KINGSLEY DRUMMOND was in the High court twice as a result of a tax case with HMRC. He lost twice. The Judge's concerned did not accept that he was using a legitimate tax avoidance method. The tactics used were highly questioned.

JASON KINGSLEY DRUMMOND. JUSTIN PIERS DRUMMOND. NILESH JAGATIA. CHRISTOPHER SIMON GORMAN OBE. These were the directors of Media Corporation PLC who did not keep Purple Lounge players' funds segregated, keeping the funds in UK company bank accounts, ultimately causing loss to those players and Media Corporation shareholders. If they were acting fraudulently this could mean that they personally not Purple Lounge or Media Corporation could be responsible for the losses of players and shareholders. This would date back to 2009 or further and could involve tens of millions of pounds.

With Media Corp itself now having ceased trading, the way forward would seem to be a class action by players against these 4 former directors, firstly an attempt to establish that they acted fraudulently, and so are personally liable, and then to seek redress from their personal assets. One part of the action could involve requesting the court freeze their assets so that they cannot be put beyond the reach of justice should the players win damages. If any of these four believe they are at risk of losing such a case, you will see them moving their assets out of the jurisdiction of the UK pretty damn quick.

 

[The Dude]

...Maybe OBE really means One Blowjob Extra.

You've got real class - NOT.

Bye.

 

[jetset]

Look who has surfaced at Boxill plc (was The Weather Lottery)

NEW NAME FOR THE WEATHER LOTTERY PLC

Lottery company to rebrand as Boxhill plc... with some familiar names on the Board.

The directors of The Weather Lottery plc announced Friday that the lottery company has changed its name to Boxhill Technologies plc following the acquisitions earlier this year of payments software and processing businesses Poseve and Sormelle, and continued investment into lottery products.

The London AIM quoted company operates two divisions; one in lottery and the other in gaming and payments software solutions for both individuals and businesses.

Boxhill boasts a portfolio of payment solution products via its Pay Corporation brand. These include consumer-facing services such as the industry’s most secure prepaid voucher, top up card and a prepaid PayCorp Visa card, with further complementary products in production.

The Gaming and Payments Software division is currently generating increasing revenues through the provision of online payment systems for companies such as Ladbrokes, while other gaming and non-gaming merchants in a number of jurisdictions has seen an encouraging growth in use, a company spokesman said, adding that Boxhill has ambitious plans to deliver and acquire new products and businesses, with a particular focus on lotteries and global payment processing.

Boxhill’s board includes non-executive chairman Lord Tim Razzall, the Liberal Democrat’s spokesman on Trade and Industry, financial director Andrew Flitcroft, and two names that are better known in the online gambling sector as having been involved in high profile companies.

Boxhill's CEO is Phil Jackson, who is also the chairman of Media Corporation plc and the man at the helm during the highly publicised Purple Lounge liquidation. Jackson has over twenty years' experience in company management and for the last four years has been advising on the corporate development of betting software group, Intabet, as well as advising specialist health analytics group LA-SER on international expansion. He is also founder of Docobo, an eHealthcare company.

Kevin Dale is another well known industry name and serves as chief operating officer at Boxhill, as well as owning 29 percent of the company. His early career was in project management and management consultancy, culminating in a team leader role at Ernst & Young. He was seconded in 2000 to Coral Eurobet to implement a new strategic plan and acted as interim marketing director.

He later joined Sportingbet plc as marketing director as they expanded their worldwide customer base, and followed that with a stint as marketing director at Betfair in its early days of growth.

Since 2005 he has held a number of senior and consultancy roles within the gaming sector, including interim managing director at Littlewoods Betdirect and a director, then CEO of GameAccount for 7 years, where he helped build it into the world’s largest skill-based gaming network.

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[Richas]

Phil Jackson[/B], who is also the chairman of Media Corporation plc and the man at the helm during the highly publicised Purple Lounge liquidation. Jackson has over twenty years' experience in company management and for the last four years has been advising on the corporate development of betting software group, Intabet, as well as advising specialist health analytics group LA-SER on international expansion. He is also founder of Docobo, an eHealthcare company.

Nevada are keener on fit and proper persons checks than the UKGC but as this is a software supplier to Ladbrokes that will soon have a UK licence they will likely need a software license themselves. Someone should put in a complaint, this man should not be let near any punter's money.