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Vega+ Shipping Dates

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Michelmores

Despite debts of over half a million pounds to backers and hundreds of thousands of pounds to SMS, RCL thought it was a good idea to spend several hundred thousand pounds of backers money on lawyers in crazy court cases but still even now owe a further £300,000 to these lawyers.

Michelmores owed £300k by RCL

Full email chain

Michelmores owed £300k p1

Michelmores owed £300k p2

Michelmores owed £300k p3

Michelmores owed £300k p4

Text version

David Levy <davidlevylondon@yahoo.com>
To:Jayne Clemens
Cc:Garbhan Shanks,Peter Haigh-Lumby,Suzanne Martin
Dec 21, 2017 at 9:43 PM

Dear Jayne,

Thank you for your suggestion re asking for a postponement of the due date for our accounts, which we shall follow.

Regarding the notice under section 476 of the Companies Act 2006, our accountants have advised that the notice was not correctly served and is therefore invalid. This is explained on the Companies House web site which states:
"If shareholders ask for an audit
Even if your company’s usually exempt from an audit, you must get your accounts audited if shareholders who own at least 10% of shares (by number or value) ask you to. This can be an individual shareholder or a group of shareholders.
They must make the request in writing and send it to the company’s registered office address.
The request must arrive at least one month before the end of the financial year that the audit is being asked for."

In our case the notice was sent to me personally by Patrick Smith, and was not sent to the company's registered office address.

We therefore propose not to have our accounts audited for the year to March 2017.

Regarding the questions 1-4:

[1] We hit a problem with the height of one of the components which has been solved this week. We won't know until SMS are back after Christmas what the schedule will be for assembly and shipping.

[2] Lee Fogarty is completely out of control and impossible to correspond with in a sensible way.We suggest leaving this issue asleep.

[3] We won't be able to answer this question until we start shipping.

[4] The SMS Financial Director has been and still is off sick so they have not been able to meet us and will not be able to do so until the second week in January, when we will give you an update.

Please let us know if there is anything else we need to do regarding Mr Wong.

Best,

David 

----- Forwarded Message -----
From: Jayne Clemens <Jayne.Clemens@michelmores.com>
To: David Levy <davidlevylondon@yahoo.com>; "'suzannemartin@protonmail.com'" <suzannemartin@protonmail.com>
Cc: Garbhan Shanks <Garbhan.Shanks@michelmores.com>; Peter Haigh-Lumby <Peter.Haigh-Lumby@michelmores.com>
Sent: Monday, December 18, 2017 5:43 PM
Subject: URGENT PLEASE REVIEW AND RESPOND [MICHREF-Active.124919.2]

Dear Suzanne and David,

Urgent PLEASE READ AND RESPOND

Notice previously served under section 476 of the Companies Act 2006

Can I remind you that further to the Notice served by Andrews and Smith earlier in the year pursuant to section 476 of the Companies Act. At the time we understood that RCL has an accounting reference date of 30 March 2017. On that basis RCL must file its audited accounts within 9 months of that date i.e. by 30 December 2017. You must send a copy of the RCL accounts to Andrews and Smith before 30 December 2017, or if earlier, the date on which you file the accounts. Failure to do so is an offence under section 425 of the Companies Act 2006.

If RCL does what it did in relation to the 2015/16 financial year and shortens its accounting reference period at the 11th hour, this could potentially give it more time (ie three months from the date of the notice shortening the period) but there must be very good reasons for shortening the period. We recommend you discussing this with your accountants who should be able to advise on any potential rationale.

Cooper Bankruptcy

We have today been contacted by Michael Wong of Begbies Traynor. Mr Wong is seeking RCL's support for him to act as the Trustee in Bankruptcy in the Nick Cooper bankruptcy should Begbies Traynor decide to apply to act. The matter was forwarded to him by Mazars who act for Natwest Bank. He has confirmed that RCL is currently the second largest creditor behind Mr Malcolm Cooper.

Mr Wong specialises in fraud investigations and would be seeking to uncover Mr Cooper's assets. He also asked whether there would be any prospective funds coming from RCL to assist his investigation. I assume RCL would not be able to assist but please could you confirm. He did question RCL's position in respect of it having not filed its accounts at Companies House. I informed him that I did not have instructions to discuss this with him.

Whilst Mr Wong will be racking up fees along the way which would be due and owing out of Mr Cooper's estate, if RCL supports a vote for Begbies Traynor, there would be a Trustee in Bankruptcy who would be prepared to undertake a fairly detailed arm's length investigation into Cooper and his assets. The alternative is that the matter remains with the Official Receiver. Do let me know what you would prefer.

Other Urgent Matters

In addition:

1. Suzanne could we have an update in respect of the Vega+. When is the shipping date? Will it be this week? problem with ht of a component solved this week wont know until sms are back how that is affecting the schedule

2. David would you mind confirming the position re Lee Fogarty as per Garbhan's previous emails?

3. Derek Boyle and Counsel have both been in contact asking for a payment date. Suzanne could you let me know when you consider you will be in a position to pay their invoices?

4. Finally, Suzanne, could you let me know where you are with SMS?


Kind regards,

Jayne

Jayne Clemens
Senior Associate

DDI 01392 687724 | FAX +44 (0) 1392 360563
Woodwater House | Pynes Hill | Exeter | EX2 5WR | DX135608 Exeter 16 | +44 (0) 1392 688688
www.michelmores.com

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This email was sent for and on behalf of Michelmores LLP

From: Peter Haigh-Lumby
Sent: 07 December 2017 11:01
To: David Levy; 'suzannemartin@protonmail.com'
Cc: Garbhan Shanks; Jayne Clemens; Suzanne Martin
Subject: RE: Any progress
Importance: High
Sensitivity: Private

David & Suzanne

I am not working tomorrow but will call Suzanne at 12 noon from my mobile.

Sorry to hear she is having more issues but as you will appreciate we are becoming increasingly frustrated about the lack information which will provide us with some comfort as to when we will be paid the £300k we are owed. When we speak tomorrow can we please be given an update on:-

1 – units – we assume that the 5,000 units are now with the backers and that a further 6,000 are ready for the Christmas sales?

2 – an update on the overcharge from SMS and details of when and how the money is coming back and how much we can expect?

3 – a definite date when you can produce the sales information I asked for in my email of 20 November.

Regards

Peter

Peter Haigh-Lumby
Director

DDI 01392 687807 | FAX +44 (0) 1392 360563
Woodwater House | Pynes Hill | Exeter | EX2 5WR | DX135608 Exeter 16 | +44 (0) 1392 688688
www.michelmores.com

This email was sent for and on behalf of Michelmores LLP
From: David Levy [mailto:davidlevylondon@yahoo.com]
Sent: 07 December 2017 10:18
To: Peter Haigh-Lumby
Cc: Garbhan Shanks; Jayne Clemens; Suzanne Martin
Subject: Re: Any progress

Dear Peter,

Suzanne is out of action today, dealing with the fallout from another hacking of our bank account. Please suggest a time tomorrow for speaking to her.

Best,

David

From: Peter Haigh-Lumby <Peter.Haigh-Lumby@michelmores.com>
To: "suzannemartin@protonmail.com" <suzannemartin@protonmail.com>; 'David Levy' <davidlevylondon@yahoo.com>
Cc: Garbhan Shanks <Garbhan.Shanks@michelmores.com>; Jayne Clemens <Jayne.Clemens@michelmores.com>
Sent: Tuesday, December 5, 2017 4:25 PM
Subject: Any progress

Good afternoon,

Any progress since we spoke last week? Have the first batch been despatched and have you made any in roads with SMS on the repayment?

Regards

Peter

Peter Haigh-Lumby
Director

DDI 01392 687807 | FAX +44 (0) 1392 360563
Woodwater House | Pynes Hill | Exeter | EX2 5WR | DX135608 Exeter 16 | +44 (0) 1392 688688
www.michelmores.com

This email was sent for and on behalf of Michelmores LLP
Please be aware of the increasing risk of cybercrime and online fraud. If you ever receive an email stating a change in bank account details purporting to be from Michelmores LLP, do not send any funds to the account and contact us immediately. We will never send you an email telling you that we have changed our bank account details.
Michelmores LLP is a Limited Liability Partnership, registered in England and Wales with registered number OC326242. We use the term "partner" to refer to a member of Michelmores LLP (all of whom are solicitors or barristers), or an employee or consultant with equivalent standing and qualifications. Address, contact and partner details for our four offices can be found at our website www.michelmores.com or by contacting +44 (0) 1392 688688.
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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:
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  • Battery specification:
  • PEGI certification:
  • Final specs released:
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  • Prototypes made: ~100-200