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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News.com.au exposes John Iliopoulos's poor management and fraud
Quote from Guest on October 25, 2023, 9:47 pmhttps://www.news.com.au/finance/money/investing/50-of-staff-quit-at-12m-aussie-startup-emersion-media/news-story/6f13b40fc264cc4f2d53c0f19f89f1b3
More people should come forward and talk to her for a follow up!
More people should come forward and talk to her for a follow up!
Quote from Foresti on October 25, 2023, 10:02 pmThank you to the staff and shareholders that have spoken out. Well done Harry. We’re quick to (rightfully so) complain about the mismanagement of our investment but it’s easy to forget that staff actually had to work with these charlatans and it appears continue to be bullied even after they’ve left.
Thank you to the staff and shareholders that have spoken out. Well done Harry. We’re quick to (rightfully so) complain about the mismanagement of our investment but it’s easy to forget that staff actually had to work with these charlatans and it appears continue to be bullied even after they’ve left.
Quote from Foresti on October 26, 2023, 4:39 amJohn’s comments around a hostile shareholder board take over are quite amusing. My understanding is he and his brother disappeared for three months, and Peter Stern and Chris Gourlias were out trying to raise more money to pay staff (something which doesn’t seem to have happened) and get the company out of debt promising all of us if we invested more money John would step down permanently, terms John has agreed to. So this whole victim narrative he is presenting now is either a complete farce, or he actually has his own chairman and best friend to blame, not the shareholders.
The Gooroo deal falling through also wasn’t “bad luck.” It was only ever on the table when John, Chris and Peter presented falsified financial statements and projections to Gooroo (the same fraudulent documents that were presented to many of us as a last ditch effort to raise more money). Once they did their due diligence and the extent of their lies (and potential theft) came to light of course they ran for the hills. What’s the point of investing $5million into a company that is $5million in debt? There still wouldn’t have been enough operational capital, once again evident by the fact they haven’t been able to pay out staff entitlements, superannuation, or their $1million ATO debt.
The company is insolvent and it is time it was wound up and the directors were prosecuted for the various breaches of the law they’ve committed.
John’s comments around a hostile shareholder board take over are quite amusing. My understanding is he and his brother disappeared for three months, and Peter Stern and Chris Gourlias were out trying to raise more money to pay staff (something which doesn’t seem to have happened) and get the company out of debt promising all of us if we invested more money John would step down permanently, terms John has agreed to. So this whole victim narrative he is presenting now is either a complete farce, or he actually has his own chairman and best friend to blame, not the shareholders.
The Gooroo deal falling through also wasn’t “bad luck.” It was only ever on the table when John, Chris and Peter presented falsified financial statements and projections to Gooroo (the same fraudulent documents that were presented to many of us as a last ditch effort to raise more money). Once they did their due diligence and the extent of their lies (and potential theft) came to light of course they ran for the hills. What’s the point of investing $5million into a company that is $5million in debt? There still wouldn’t have been enough operational capital, once again evident by the fact they haven’t been able to pay out staff entitlements, superannuation, or their $1million ATO debt.
The company is insolvent and it is time it was wound up and the directors were prosecuted for the various breaches of the law they’ve committed.
Quote from Guest on October 26, 2023, 12:43 pmThis lets him off too lightly.
This lets him off too lightly.
Quote from Gamisou on October 28, 2023, 9:43 pmQuote from Foresti on October 26, 2023, 4:39 amJohn’s comments around a hostile shareholder board take over are quite amusing. My understanding is he and his brother disappeared for three months, and Peter Stern and Chris Gourlias were out trying to raise more money to pay staff (something which doesn’t seem to have happened) and get the company out of debt promising all of us if we invested more money John would step down permanently, terms John has agreed to. So this whole victim narrative he is presenting now is either a complete farce, or he actually has his own chairman and best friend to blame, not the shareholders.
The Gooroo deal falling through also wasn’t “bad luck.” It was only ever on the table when John, Chris and Peter presented falsified financial statements and projections to Gooroo (the same fraudulent documents that were presented to many of us as a last ditch effort to raise more money). Once they did their due diligence and the extent of their lies (and potential theft) came to light of course they ran for the hills. What’s the point of investing $5million into a company that is $5million in debt? There still wouldn’t have been enough operational capital, once again evident by the fact they haven’t been able to pay out staff entitlements, superannuation, or their $1million ATO debt.
The company is insolvent and it is time it was wound up and the directors were prosecuted for the various breaches of the law they’ve committed.
The last I heard from Chris Gourlias he was the one that rang me I think back in May and told me John had disappeared after running the company into the toilet and he and Peter were trying to rally the existing shareholders to raise more capital, and that there was a new leadership team in place. I believe the debt was $2million at the time.
Quote from Foresti on October 26, 2023, 4:39 amJohn’s comments around a hostile shareholder board take over are quite amusing. My understanding is he and his brother disappeared for three months, and Peter Stern and Chris Gourlias were out trying to raise more money to pay staff (something which doesn’t seem to have happened) and get the company out of debt promising all of us if we invested more money John would step down permanently, terms John has agreed to. So this whole victim narrative he is presenting now is either a complete farce, or he actually has his own chairman and best friend to blame, not the shareholders.
The Gooroo deal falling through also wasn’t “bad luck.” It was only ever on the table when John, Chris and Peter presented falsified financial statements and projections to Gooroo (the same fraudulent documents that were presented to many of us as a last ditch effort to raise more money). Once they did their due diligence and the extent of their lies (and potential theft) came to light of course they ran for the hills. What’s the point of investing $5million into a company that is $5million in debt? There still wouldn’t have been enough operational capital, once again evident by the fact they haven’t been able to pay out staff entitlements, superannuation, or their $1million ATO debt.
The company is insolvent and it is time it was wound up and the directors were prosecuted for the various breaches of the law they’ve committed.
The last I heard from Chris Gourlias he was the one that rang me I think back in May and told me John had disappeared after running the company into the toilet and he and Peter were trying to rally the existing shareholders to raise more capital, and that there was a new leadership team in place. I believe the debt was $2million at the time.
Quote from groovetrain on November 14, 2023, 12:06 amTo be honest with you this article goes way to easy on them. A real investigative journalist should look into this, plus their history of doing the same thing with their Groovetrain restaurants and stealing money from there. There is a much larger and much longer story there. They have been doing this same type of thing for decades and constantly get away with it. With E-Mersion being a much bigger issue now hopefully the law finally catches up with them and they get put behind bars.
To be honest with you this article goes way to easy on them. A real investigative journalist should look into this, plus their history of doing the same thing with their Groovetrain restaurants and stealing money from there. There is a much larger and much longer story there. They have been doing this same type of thing for decades and constantly get away with it. With E-Mersion being a much bigger issue now hopefully the law finally catches up with them and they get put behind bars.