This message board is for the shareholders of E-MAG.TECH PTY LTD (formerly E-MERSION MEDIA HOLDINGS PTY LTD ACN: 631 146 177) and E-MERSION MEDIA PTY LTD (ACN: 605 098 539) and E-MERSION MEDIA (AUST) PTY LTD (ACN: 637 337 641 – INSOLVENT).
As the Directors refuse to open disclosure with shareholders regarding the state of our investment and have not held an investor meeting in four years, we have set this up to openly help one another and discuss the business and its leadership and founders John Iliopoulos, Chris Iliopoulos, and Peter Stern.
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Formula 1 report
Quote from Cap on November 27, 2023, 7:06 amHas anyone received a report about Formula 1? I’ve asked but been ignored.
Do we have download numbers? More importantly do we know how much money it made us? I believe it’s the only client left so it would be good to have as an indicator of a valuation considering we’re not getting share holder updates.
Also are we continuing on next season?
Has anyone received a report about Formula 1? I’ve asked but been ignored.
Do we have download numbers? More importantly do we know how much money it made us? I believe it’s the only client left so it would be good to have as an indicator of a valuation considering we’re not getting share holder updates.
Also are we continuing on next season?
Quote from Mark Bartlett on November 27, 2023, 9:53 amWho did you ask to provide you a report and what right do you have to get one?
Who did you ask to provide you a report and what right do you have to get one?
Quote from greengrass on November 27, 2023, 10:02 amAsk Sarah and Jag at Attnd media- John has sold the contract to them.
Ask Sarah and Jag at Attnd media- John has sold the contract to them.
Quote from Mark Bartlett on November 27, 2023, 8:51 pmWhere’s the proof? How are you involved?
Where’s the proof? How are you involved?
Quote from greengrass on November 27, 2023, 10:09 pmWhere’s the proof you haven’t, John?
Either you’ve sold it or given it to them because they’re running the project?
Where’s the proof you haven’t, John?
Either you’ve sold it or given it to them because they’re running the project?
Quote from Mark Bartlett on November 27, 2023, 10:20 pmAsk John directly and you might actually get an answer…..
john@e-mersion.media
Ask John directly and you might actually get an answer…..
john@e-mersion.media
Quote from parmenides on November 27, 2023, 10:59 pmQuote from Mark Bartlett on November 27, 2023, 9:53 amWho did you ask to provide you a report and what right do you have to get one?
Over the years several shareholders have requested financial information, and it has never been provided. There hasn’t been a shareholder update in 4 years and even at that update no real financial information was provided. In fact if we go back to that update we were promised profits and it appears that in that time the company has in fact not only generated zero revenue, but gone backwards.
Do you as a shareholder not believe that you deserve to know how your investment is going? If so then you have no place being a shareholder in the first place and clearly you’ve been conned. Who hands over their money blindly and doesn’t expect to know how it’s doing, or want a profit? Is e-Mersion a charity to support John and Chris’s lifestyle? No, it’s a business so we’re entitled to ask for a business update.
And in fact, legally, the company should no longer be a private company. According to a reporter who recently contacted me there are over 50 shareholders, but to get around this many were under duress or without their knowledge placed into Perpetual Nominees Trust instead of e-Mersion. I’m not a lawyer, but I know the reporter and ASIC are investigating this. So you can add it to the growing list of at worst illegal steps the brothers have taken, or at least dodgy practices they’ve employed to further skate their responsibilities, even with ASIC. As a public company, which they essentially should be, they’d have to disclose these reports, however they’ve literally bent or broken the law to avoid this.
Quote from Mark Bartlett on November 27, 2023, 9:53 amWho did you ask to provide you a report and what right do you have to get one?
Over the years several shareholders have requested financial information, and it has never been provided. There hasn’t been a shareholder update in 4 years and even at that update no real financial information was provided. In fact if we go back to that update we were promised profits and it appears that in that time the company has in fact not only generated zero revenue, but gone backwards.
Do you as a shareholder not believe that you deserve to know how your investment is going? If so then you have no place being a shareholder in the first place and clearly you’ve been conned. Who hands over their money blindly and doesn’t expect to know how it’s doing, or want a profit? Is e-Mersion a charity to support John and Chris’s lifestyle? No, it’s a business so we’re entitled to ask for a business update.
And in fact, legally, the company should no longer be a private company. According to a reporter who recently contacted me there are over 50 shareholders, but to get around this many were under duress or without their knowledge placed into Perpetual Nominees Trust instead of e-Mersion. I’m not a lawyer, but I know the reporter and ASIC are investigating this. So you can add it to the growing list of at worst illegal steps the brothers have taken, or at least dodgy practices they’ve employed to further skate their responsibilities, even with ASIC. As a public company, which they essentially should be, they’d have to disclose these reports, however they’ve literally bent or broken the law to avoid this.
Quote from parmenides on November 27, 2023, 11:02 pmQuote from Mark Bartlett on November 27, 2023, 8:51 pmWhere’s the proof? How are you involved?
Wait for the next article that’s coming out, it will go into detail.
Quote from Mark Bartlett on November 27, 2023, 8:51 pmWhere’s the proof? How are you involved?
Wait for the next article that’s coming out, it will go into detail.
Quote from parmenides on November 27, 2023, 11:05 pmQuote from Cap on November 27, 2023, 7:06 amHas anyone received a report about Formula 1? I’ve asked but been ignored.
Do we have download numbers? More importantly do we know how much money it made us? I believe it’s the only client left so it would be good to have as an indicator of a valuation considering we’re not getting share holder updates.
Also are we continuing on next season?
Hi Cap,
You should have a read of the former COO’s financial report here. I’m sorry to be the one to break it to you, but the Formula 1 contract has never generated a profit and in fact cost the company $1.4million per season. So to answer your question, at standard startup valuation the company is worth –$14million without even factoring in the $4million debt (most of which is to the ATO).
Quote from Cap on November 27, 2023, 7:06 amHas anyone received a report about Formula 1? I’ve asked but been ignored.
Do we have download numbers? More importantly do we know how much money it made us? I believe it’s the only client left so it would be good to have as an indicator of a valuation considering we’re not getting share holder updates.
Also are we continuing on next season?
Hi Cap,
You should have a read of the former COO’s financial report here. I’m sorry to be the one to break it to you, but the Formula 1 contract has never generated a profit and in fact cost the company $1.4million per season. So to answer your question, at standard startup valuation the company is worth –$14million without even factoring in the $4million debt (most of which is to the ATO).
Quote from Cap on November 28, 2023, 2:43 amQuote from Mark Bartlett on November 27, 2023, 9:53 amWho did you ask to provide you a report and what right do you have to get one?
I’ve asked for reports and financial statements on my investment multiple times with no response what so ever. At first I received the same manipulated predictions I was shown when Peter and Chris convinced me to invest, and then nothing. I guess you can only shift the goal post so many times. I do not hold 5% so can not demand reports, perhaps someone who does can because that seems to be our only hope.
Quote from Mark Bartlett on November 27, 2023, 9:53 amWho did you ask to provide you a report and what right do you have to get one?
I’ve asked for reports and financial statements on my investment multiple times with no response what so ever. At first I received the same manipulated predictions I was shown when Peter and Chris convinced me to invest, and then nothing. I guess you can only shift the goal post so many times. I do not hold 5% so can not demand reports, perhaps someone who does can because that seems to be our only hope.