Here’s is a log of the fraud, deception & incompetance perpetrated by Luke Connell against HCL sharholders. Dont give me rheteric, give me answers

- The initial Hope Capital prospectus had $L2 million budgeted for Market setup. In the end it cost $L3.2 Million, and half of the WSE income stream. To get that income stream back Luke had to print 12.5 million shares to issue to Shaun Altman. The market crash and subsequent total melt down was entirely the fault of Luke Connell
- The initial HCL prospectus stated that World Currency Exchange shareholders were to receive 20 HCL shares for each 1 WCE held. I was a WCE shareholder, I never received my shares. Where did they go?? Who got them. I can only assume that the ended up in Luke Connells personal account. I took this matter up with Luke Connell, only to be told “It’s just a game”. He stole USD from me and I want them back.
- The initial HCL prospectus, dated 22 December, states that Luke Connell will not sell any of his personal HCL stock for 6 months. According to the last HCL report Luke has sold 1 million shares, such a dumping of shares has significantly devalued the HCL stock, ripping off HCL IPO investors,Luke Connell has committed fraud.
- The initial HCL prosectus states that HCL was to be a company made up of 10 million shares. People invested based on this, suddenly we found out that 2.5 million shares had been issued. Who too? Why? What were the terms? Why weren’t current HCL shareholders invited to invest? It turns out that Luke Connell had sold off shares significantly below market rate to a bunch of his mates. Connell finally informed the market of the terms almost 3 months after the issue. I invested in Hope Capital based on the prospectus presented to me, Why were my shareholders diluted without my asking??
- Why didn’t Luke Connell take 5 minutes to do the odd check or two when companies listed?? Was he not concerned about WSE’s reputation, and the damage that a fraud scandal would bring with it?? Apparently not.
- Companies listing have been trying to list at terms of say 5 million shares total, 1 million IPO. Connell then changes the IPO, WITHOUT the approval of the company owner, lists it, and suddenly they are selling 1 million
shares for 2.5 million outstanding. This is theft, fraud, deception and gods know whatever. Connell is selling that person asset far cheaper than they had applied for, without their permission. Who lists is up to the CEO, but the terms of that listing is totally up
to company owner. If Luke doesn’t like the terms then he
can simply refuse to list them, but cannot change the terms of the listing without owner approval.
- You argue that someone should be able to analyse a stock and value, that is true. I read the HCL “report”, what was the net profit?? Why was capital listed as income?? Why was Capex listed as a liability?? Why were tier fees, wages etc listed as liabilities. It was a nice little “bank rec”, but what I really wanted was a profit & loss. It was 5 pages of crap, nothing more. As for Nicholas Portocarerro, and his BNT comments, he is entitled to his opinion, but if you are going to put up an argument about “analysing a share” could you at least give us some analysis, not opinions
- As for analysis, here’s my analysis of HCL. The only people trading on the WSE are funds looking to move the market in their favour to make their portfolios looks good, and the odd resident with a couple of hundered of lindens up their sleeve. Anyone with any intelligence and proper purchasing power has sold out and left. The WSE is on track to average a mere 60 million turnover a month, thats 1.8 million in revenue. Luke Connell gave very little financial information in his report, so let’s be generous and say that HCL will get 2.5 million a month in revenue. Once costs are taken out, budgeted at 60% of income, per the prospectus, that leaves HCL with a monthly profit of 1 million, 12 million a year. There are 27 million shares outstanding, that’s 44c a share, currently the market is so depressed the P/E ratios are at 1. In a buoyant market P/E ratios may hit 3 (This is SL, not RL). So in current market conditions I rate HCL a 44c stock, maybe if the market ever recovers I might rate it an 80c stock. Factoring the fraud, lies, incompetance of Luke Connell, the illiquidity of the market, the lack of barriers to competition and the fact that there are people out there far more competant than Luke Connell who will blow WSE away,the damage to the HCL brand the fraud scandal did, and the fact that I will never get any say whatsoever in the running of HCL, I seriously rate HCL a 10c stock. I will not pay anymore than that, because that is what I value them at. So I suggest you stop buying,because you are buying a dog stock.

Before you cry “defamation and slander”, not a problem I am willing to go to court on this matter, should Mr Connell think it necessary. What is it they say about the best defence against defamation?? “Prove that it’s true”, I can prove each and every allegation I have made, it’s all written in the company prospectus’s and reports. There’s a good chance, with all the fraud committed, that Mr Connell will then be taken away and criminally charged.

Answers Intlibber, and dont give me rheteric crap, and dont you dare tell me that ripping people off their hard earned USD is a “game”.