Openpandora Ltd (UK) Struck off email


hedwards

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yes, Lazarus has been a perfect remedy for me when that happens.

https://addons.mozilla.org/en-US/firefox/addon/lazarus-form-recovery/
I'll have to give that a try.

As far as the topic goes, does anybody know where things are in the process. Presumably ED objected because he apparently hasn't been paid and I'm sure has the invoices and documentation to back that up. But, at what point would we hear anything about whether or not the LTD has been struck?
 

Klumpen

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the strike off has been suspended until feb. if they still have outstanding claims then creditors will be able to object again
Great, he won't be able to create the next in his long list of companies for a while.

Whatever his plan was, it has been prohibited. :)
 
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eazrael

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In response to http://boards.openpandora.org/topic/15060-faq-for-remaining-preorders-of-openpandora-ltd/#entry296019/URL]

On a different note, in regard to the accounts, one of the requirements of being a Ltd company, in the UK, is you have to publicly publish you accounts on an annual basis, and OpenPandora Ltd have been doing this. If there are any accountants out there who want to look into this, they are cheap to get hold of, and may well answer some of our questions. I dont have the know how to examine them properly. but they are available if any one is interested or able to do so.
http://companycheck.co.uk/company/06513352
Holy S**T. I checked only this duedil page, which has the report from 2012 as latest one.

260k GBP as liabilities. How can it be that such a company can simply be "struck off" if it has so much debt in its books? Does the companies house no basic checking on the reports? Or do they go on with the proceeding hoping all creditors forego their money?

Other question: Shouldn't the preorders sum up to more than 200k GBP?
 
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EvilDragon

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Holy cow, what has he been doing?

As far as I know, when I bought all the remaining parts from him 2011, there was no company left where he had liabilities...

I took on the last ones back then, paying them for the parts.

So it should've only been preorders.

Preorders had also paid shipping costs, so it was probably more than 330 USD, but even if we raise the bar per preorder to 500 USD, it would only be about 250,000 USD, and not 438,677 USD (as has been accounted).

Where has all that money gone...? :eek:
 

eazrael

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I mean the initial preorders in 2008/2009, not the remaining ones. With my limited accounting knowledge each preorder should add equal to cash and liabilities. So a preorder of let's say 300€ should increase cash by 300€ and liabilities by 300€. Each shipped Pandora should reduce the liabilities by the preorder value (300€) and the cash by the production cost.

How many preorders were taken initially by OP Ltd? 2000? 3000?

Edit: Somewhere some taxes will have been deducted, but still where has the money gone?
 
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eazrael

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As far as I know, when I bought all the remaining parts from him 2011, there was no company left where he had liabilities...
When you bought all the parts from him, from which parts should he build the pandoras for the remaining peorders? I think it was clear at at point that he has still a lot of outstanding orders. So he was left empty handed.

That's not intended as an accusation to ED, i am just wondering on what OP Ltd was thinking at that time. Or was the deal he will buy the pandoras for the remaining orders from you? So production gets going again.

Another Edit: This subpage shows the downfall more cleanly http://companycheck.co.uk/company/06513352/OPENPANDORA-LTD/financial-accounts#financials .
 
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Morn

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Some bold investments to repair company finances? Stock, currencies maybe?

I'm just speculating.
 

EvilDragon

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As far as I know, when I bought all the remaining parts from him 2011, there was no company left where he had liabilities...
When you bought all the parts from him, from which parts should he build the pandoras for the remaining peorders? I think it was clear at at point that he has still a lot of outstanding orders. So he was left empty handed.

That's not intended as an accusation to ED, i am just wondering on what OP Ltd was thinking at that time. Or was the deal he will buy the pandoras for the remaining orders from you? So production gets going again.
The deal was that he gets the Pandoras (or equivalent money for refunds) for free.


And he got enough to bring his remaining preorders down from 800 to 150, so the remaining liabilities should be about 50,000 EUR... not 320,000 EUR.
 

rohezal

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If I am honest I am worried about Craig. Hope he won't get into big trouble. When he even needs his mother to help him  (he is 35),  and his sister which was badly insulted, and cant handle money this is realy bad. I talked to a psychologist about the whole pandora story and she said, she can't do a remote diagnostic, but it sounds like some serious mental problems (dont know the english medical term for "manische depression"). I think Craig needs help.

Maybe don't sue him but write a serious letter to his mother? About "Your son seems to have real problems to handle money, made very big debts and it looks like he can't see the reality and he has very big changes in his mood from euphoric to 'hiding under on a rock'. we recommend strongly that he should talk to a doctor about it. Maybe he has a mental desease". 
 
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eazrael

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The new term for "Manische Depression" is bipolar disorder. And no chance to make any remote diagnosis. He can also be a normal guy just overwhelmed by bad luck and running a company with problems.

And if Jacquelyn Jones is his mother, you don't need need to send a letter to her. As a director she should know about the health of the company.

The questions is: "Does he deserves to get into trouble?" That's a good question i am always asking myself. I am p***ed due to the lack of information after my preorder. And i wonder how he managed to get so many debts. At least in Germany you will not get any bigger loas with a company where only 2 or 3 people have a 1GBP share in. You have to warrant personally for the money. But if all the debts are just unshipped & prepaid preorders, then it's much easier to accumulate such debts.

And yes, i have my own doubts about pursuing this. It may be bad luck (with this CC company) or some kind of inability (wrong calculations, no legal actions against CC, fail to inform people honestly that there aisre trouble). I may also be some misdeed like taking too much money out of the company (personal wage, buying stuff on company's account). We don't know it. Only an audit may uncover what happened.

I don't want him to be punished for bad luck or inability (to some extent), but if OP Ltd went down due to misdeeds i would like to see him penalised. An audit may penalise him for both. But i doubt he can avoid an audit now.

Something completely different: This companycheck.com site allows you to download 5 annual reports for free when you register for a free account. OP Ltd. has 5. I never saw how such a report looks like, so i registered an accocunt there.
 
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