ZX Vega+ News

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Vega+ Shipping Dates

  • End of September 2016
  • October 2016
  • In time for Xmas 2016
  • February 2017
  • A "few weeks" from March 10th 2017
  • Summer 2017
  • 8 weeks from August 9th (October 4th, 2017)
  • Mid October 2017
  • April 2018
  • May 8th - 12th 2018
  • May 12th 2018
  • May 31st 2018 (Indiegogo deadline)
  • June 15th 2018
  • July 6th 2018
  • August 2nd 2018 (Shareholders poll to remove directors)

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Dr David Levy Trading Insolvent

David Levy confirms to RCL's former lawyers Teacher Stern that RCL has no money and are trading insolvent. Teacher Stern are currently being investigated by the Solicitors Regulation Authority over their involvement with Retro Computers Ltd.

Cannot pay Teacher Stern p1

Cannot pay Teacher Stern p2

Cannot pay Teacher Stern p3

Cannot pay Teacher Stern p4

Cannot pay Teacher Stern p5

Cannot pay Teacher Stern p6

Cannot pay Teacher Stern p7

Text version

David Salisbury <d.salisbury@teacherstern.com>
To:'David Levy'
Cc:Suzanne Martin
Feb 1 at 12:52 PM

Dear David,

I am sorry that you have not been able to make any form of payment.

Unfortunately, the matter has now been taken out of my hands and been passed to my partner in our Debt Recovery team who will be writing to you to put you on notice that we will now be commencing proceedings to recover the debt, if payment is not made imminently.

I am sorry it has come to this point but as I am sure you’ll understand how patient we have been and that this cannot continue indefinitely.

Kind regards

David


From: David Levy [mailto:davidlevylondon@yahoo.com]
Sent: 01 February 2018 09:43
To: David Salisbury
Cc: Suzanne Martin
Subject: Re: Outstanding Invoice

Dear David,

We were expecting to be able to pay you a small amount today, but we have had an unexpected cost which has made it impossible for us to do that at the moent.

We appreciate that your partners are very anxious about getting paid, but if they will bear with us as we move into production we will soon be generating revenue and will be able to make some payments along the way. Right now it is literally impossible.

We hope that your partners will continue to be patient. We are doing our best, and both Suzanne and I are 14 months behind in getting paid any income by the company so you can imagine how difficult the situation is for us.

Best regards,

David


From: David Salisbury <d.salisbury@teacherstern.com>
To: 'David Levy' <davidlevylondon@yahoo.com>
Cc: 'Suzanne Martin' <suzanne@suzannemartin.com>
Sent: Monday, January 29, 2018 2:24 PM
Subject: Outstanding Invoice

Dear David,

I appreciate you are very busy and under some pressure (but as I am sure you’ll understand, so am I ). I would therefore be grateful for an acknowledgement and reply to my emails as soon as possible. As mentioned, I do need to ensure our invoices will be paid in accordance with the payment plan I set out in my email of 12 January (and which has been approved by the partners).

Please therefore would you be kind enough to transfer £3,650 by close of business tomorrow.

Thanks and regards

David


From: David Salisbury
Sent: 25 January 2018 12:14
To: 'David Levy'
Cc: 'Suzanne Martin'
Subject: RE: Contact with Suzanne

Dear David,

I hope you have had an opportunity to review my mail 13 days ago.

I am under increasing pressure to seek recover of the monies due and the proposal I have made below was the only one sanctioned by my partners, bearing in mind our cash flow requirements and our upcoming financial year end.

I do therefore anticipate receiving monies before the end of this month so as to show that there is a real commitment to clearing down the balance in a structured payment plan.

Many thanks

David


From: David Salisbury
Sent: 12 January 2018 15:52
To: 'David Levy'
Cc: 'Suzanne Martin'
Subject: RE: Contact with Suzanne

Dear David,

Apologies for the delay in replying to your last email. Happy new year - I hope 2018 brings you success.

Having now considered your payment suggestion, I am unable to accept it. As you know, our invoice was submitted in October 2016 and it is not realistic for us to wait over 15 months to receive £1,000 (being only just over 5% of the total outstanding) with the invoice only being fully paid some 19 months later. Like you, we must also run our business efficiently and pay staff, rent, etc. and to provide credit to clients in this way would mean we would go out of business. Not having received any payments for 15 months is something my partners are unable to accept.

I must therefore ask you for a significantly improved payment plan as follows:-

£3,650 by the end of this month (being a very generous 15 months from the date of the invoice - copy attached)

£5,000 by the end of February

£5,000 by the end of March

£3,655 (the balance) by the end of April (being our financial year end).

This payment plan is designed to assist you in allowing still further time to pay and in tranches that are manageable but one that is also fair and balanced for Teacher Stern. It is the plan that my partners are prepared to green light, having taken into account all circumstances.

Please can you therefore work this in to your cash flow and arrange for the first payment to be made in the next few weeks accordingly.

Kind regards

David


From: David Levy [mailto:davidlevylondon@yahoo.com]
Sent: 18 December 2017 22:42
To: David Salisbury
Cc: Suzanne Martin
Subject: Re: Contact with Suzanne

Dear David,

Thank you for this.

The proposal we made in my email of December 14th is one that we are confident that we can keep to. We would not want to make a proposal based on thin air and then be forced to break it.

We simply do not have funds at the present time to make an immediate payment. If we had decided to use any of our remaining cash flow to make an immediate payment to your firm it would have meant the collapse of our manufacturing plans, depriving our 4,700 Indiegogo backers of the Vega+ units we will be shipping to them, and consequently the immediate demise of our company.

As I believe you already know, our company is 13 months in arrears with with payments to the two of us - we have been working for nothing so as to bring the Vega+ project to fruition. There simply isn't a source of funds we can go to in order to satisfy your request for an immediate payment and a faster schedule than we proposed last week.

So please ask your partners to bear with us. February 1st is only 6 weeks away. For the sake of the 4,700 backers, if for no other reason, please ask your partners to accept what we have proposed.

Best regards,

David


From: David Salisbury <d.salisbury@teacherstern.com>
To: 'David Levy' <davidlevylondon@yahoo.com>
Cc: Suzanne Martin <suzanne@suzannemartin.com>
Sent: Thursday, December 14, 2017 3:41 PM
Subject: RE: Contact with Suzanne

Dear David,

Thank you for replying to your email. I appreciate you must be very busy at this time.

I have now discussed your payment proposal with my partners and I’m afraid the suggested timings and amounts are not acceptable to them.

Having waited for more than one year already (with me having exhausted their patience many times over), you will appreciate we are unable to extend any further credit in this manner. When we last met, as part of our agreement to finalise the invoice and write of the work-in-progress, I said we would need an immediate payment and it had to be of a sum that is meaningful. I would suggest this to be £5,000 (plus VAT). The balance can then be paid in three equal instalments.

I consider this to be a fair and generous payment plan bearing in mind we too have to run a business efficiently and pay our suppliers and staff promptly - waiting more than a year without any payment has shown our good faith to you and I sincerely hope you can reciprocate now by finding the necessary funds from whatever source to meet this payment plan.

I therefore look forward to hearing from you and receiving a first payment accordingly.

Kind regards

David


From: David Levy [mailto:davidlevylondon@yahoo.com]
Sent: 10 December 2017 23:03
To: David Salisbury
Cc: Suzanne Martin
Subject: Contact with Suzanne

Dear David,

We are very sorry indeed that Suzanne was unable to contact you on Friday as we had expected. She was still totally swamped by having to put together information for the police, on top of everything she is doing on the production side.

We have already agreed with you that Retro will pay your outstanding invoice in full and that Teacher Stern will waive the fees for the WIP.. So it only remains for us to agree on a mutually acceptable payment schedule.

As Suzanne has already explained, we cannot make any payments until we have started to ship the Vega+ to backers as all available funds are needed to cover production commitments. We thereforefor propose the following schedule of payments, which we hope you will find acceptable.

£1,000 on February 1st

£2,000 on March 1st

£4,000 on April 1st

£6,000 on May 1st

The balance on June 1st.

Please let us know if this is acceptable to you.

Best,

David


----- Forwarded Message -----
From: David Salisbury <d.salisbury@teacherstern.com>
To: 'David Levy' <davidlevylondon@yahoo.com>
Cc: Suzanne Martin <suzanne@suzannemartin.com>
Sent: Friday, December 8, 2017 8:09 PM
Subject: RE: Contact with Suzanne

David, Suzanne,

Another day and another one of no contact and more importantly, no money.

You’ll forgive me in passing on the message - my partners have concluded that no payment is forthcoming and I have been told to pass the file over to our debt recoveries department which will now issue proceedings to seek recovery.

Apologies that it has come to this.

Kind regards

David


From: David Levy [mailto:davidlevylondon@yahoo.com]
Sent: 07 December 2017 09:00
To: David Salisbury
Cc: Suzanne Martin
Subject: Contact with Suzanne

Dear David,

Suzanne is out of action today, dealing with the fallout from another hacking of our bank account. She will be in touch with you tomorrow.

Please bear with us.

Best,

David

Teacher Stern 50 years 1967 - 2017

Teacher Stern is proud to support Grief Encounter as our nominated charity.

Teacher Stern LLP 37-41 Bedford Row London WC1R 4JH
t +44 (0)20 7242 3191 dx 177 Chancery Lane w www.teacherstern.com

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Teacher Stern is a limited liability partnership registered in England No. OC332605.
It is authorised and regulated by the Solicitors Regulation Authority SRA No. 482952.

A list of members of Teacher Stern is open to inspection at its registered office at 37-41 Bedford Row London WC1R 4JH.

Any reference to a partner in relation to Teacher Stern LLP is to a member of Teacher Stern LLP.

Information in this message is confidential and may be legally privileged.
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Cybercrime and Fraud

Please be aware of the increase in cybercrime and fraud. Do not use bank account details sent to you by email unless you have verified them by other means (e.g. a phone call to our number as stated on our internet site). If you receive an email stating a change in bank account details purporting to be from Teacher Stern LLP do not send the funds to that account but contact us immediately.

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(03/07/2018)

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Indiegogo Campaign

"Our Indiegogo campaign is to raise funds to manufacture the first 2,500 or more units of the Vega+ in the UK, and to prepare us for the second production run."

— RCL (15/02/2016)

Vega+ Status

  • All refunds processed:
  • Roll of honour email:
  • Address confirmation:
  • Battery specification:
  • PEGI certification:
  • Final specs released:
  • Games list released:
  • Finished box design:
  • Manual released:
  • Working website:
  • Final devices made: 0
  • Small claims victories: 0
  • Prototypes made: 20-30