Clint, why and who has closed the Facebook group ?!? Can you guys please contact me by pm if necessary so I know what is going on. I can't even see my own replies to people in that group that I will now lose contact with. Assuming it was you or chris that started it, Why not transfer ownership or make others moderators if necessary. If it's not actually deleted and gone I would like to explore reviving it, or understanding why it was 'forced to close down' before potentially creating a new group.
Those accounts make for really quite horrible reading..... I don't even understand it all but imagine the investors who do will be very concerned that the stock isn't accounted for, after all that's what they can actually build something to sell, if they had 2million worth of accounted good to go stock to build some product with at least that would be one thing.
An auditors report that has disclaimers in it, will have alarm bells ringing all over the place. You will also notice it was only signed off this week, very contrary to what was being said a few months ago.
Cash in the bank and assets are worth less than debts owing. Pipeline revenue doesn't make up the shortfall. Unless SG has got an extremely cunning plan, his outfit is running out of petrol...
Please please please let Triumph buy the company and make factory Tritons... from Thruxton engines and Dominator bodies.
Not going to read it again, but if I remember correctly the figures..if you take the company real assets value down from the full debt, they still owe £4-6 million to secured and unsecured creditors.
It’s that simple... apparently there is a load of Russian investment from strange sources, and the main man is wanted for massive tax evasion in Italy. Had the Italian government not have bailed MV out previously and now be so worried what putting the boss in jail for unpaid tax would look like they would have done it. Hence why he lives over the boarder from Italy. That’s what a MV dealer told me as I was tempted to buy one. Anyway it’s a thread about Norton...
Yep, it is a thread about Norton. Thanks for the reply. I'll follow up with North America MV as to the status of my order, for some strange reason I'm not worried about my order after reading this thread. I hope the best for Norton going forward.
The auditors say they are unable to verify some valuations given to them by the Directors of the company. The valuations given are substantial amounts and if they were wrong by a small percentage then it could have a significant impact on the balance sheet either way.
The accounts are shit, the company is technically insolvent, but don't forget this is the picture as of 12+ months ago, even if they were only recently signed off and made public. The business has been bankrolled for the last 12 months but no-one will know anything about that until another 12 months from now. Someone needs to take them over (if it's not already happened) let's hope it's someone who knows what they're doing and not just someone laundering money.
The boss is still posting pics of things like a carbon frame for the super light, which can’t be cheap to produce even in prototype form. So there is money coming from somewhere. Also the building is going up for the new production line, or so it says, for all we know he could suddenly rent it out to a local firm and just use it as a pr stunt that they have a bigger production facility than they do.
Anyone got any idea what happened to the Facebook page then? Seemed one of the only places that was actually discussing the bikes, apart from this thread
Group has been totally deleted and not archived. Reasons the group was deleted is related to potential legal issues and as a Norton fan and just an everyday guy, I didn't want to risk (as low at it may have been) the chance of being hit with a libel and being dragged through court. That's about as much as I can say and will not respond to private messages either (I will not go to print). Hope you all appreciate that and hopefully Norton continue there success in 2019 and beyond!
