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Countdown to zero!

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Toptel
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Countdown to zero!

Post by Toptel on Thu 24 Jul 2014, 7:13 pm

March 2011: 333,891 .tel domains
March 2012: 299,195 .tel domains
March 2013: 237,495 .tel domains
March 2014: 147,512 .tel domains
Today: 137,195 .tel domains

http://www.hosterstats.com/DomainNameCounts2014.php
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4444
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Re: Countdown to zero!

Post by 4444 on Thu 24 Jul 2014, 8:15 pm

1 or at most 2 years more until we reach zero domains.
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mikeseaton
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Re: Countdown to zero!

Post by mikeseaton on Fri 25 Jul 2014, 9:12 am

4444 wrote:1 or at most 2 years more until we reach zero domains.

I think you will find changes happen with Telnic Ltd (and consequently the .tel project) a lot earlier than that !

Name & Registered Office:
TELNIC LIMITED
37 PERCY STREET
LONDON
W1T 2DJ
Company No. 03555437

Status: Active
Date of Incorporation: 29/04/1998

Country of Origin: United Kingdom

Company Type: Private Limited Company
Nature of Business (SIC):
82990 - Other business support service activities not elsewhere classified

Accounting Reference Date: 31/12
Last Accounts Made Up To: 30/06/2012  (SMALL)
Next Accounts Due: 30/09/2014
Last Return Made Up To: 29/04/2014
Next Return Due: 27/05/2015

Here's a few financial clues:

Telnic's Auditors of the company's finances have resigned
- see note of resignation documents filed on 25 June 2014, 10 & 15 July 2014 at http://companycheck.co.uk/company/03555437/TELNIC-LIMITED/companies-house-docs

Telnic also extended their "Accounting Reference Date" (ARD or Financial Year End) - in a document filed on 26 March 2014 - by 6 months from 30 June to 31 December.

So instead of their 2013 accounts (legally due 9 months after Financial Year End) being filed on 30 March 2014 they are now able to be delayed by 6 months and become due on 30 September 2014.

Why did they do this - not for me to say - but it would be interesting to know why Telnic lost their 3 Auditors in such a short space of time recently ?

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4444
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Re: Countdown to zero!

Post by 4444 on Fri 25 Jul 2014, 2:56 pm

Looks like Telnic is buying time before they have to shut down.
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Re: Countdown to zero!

Post by mikeseaton on Fri 25 Jul 2014, 5:28 pm

4444 wrote:Looks like Telnic is buying time before they have to shut down.

To quote Francis Urquhart from the excellent House of Cards TV series:

"You might very well think that; I couldn't possibly comment !"

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Re: Countdown to zero!

Post by di7 on Fri 25 Jul 2014, 5:46 pm

No doubt:

The time of Telnic is coming to an end!
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Re: Countdown to zero!

Post by ixida on Sat 26 Jul 2014, 6:24 am

Too sad that Telnic has destroyed this great business idea !!!
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Re: Countdown to zero!

Post by mikeseaton on Sat 26 Jul 2014, 9:02 am

Toptel wrote:March 2011: 333,891 .tel domains
March 2012: 299,195 .tel domains
March 2013: 237,495 .tel domains
March 2014: 147,512 .tel domains
Today: 137,195 .tel domains

http://www.hosterstats.com/DomainNameCounts2014.php

The rot continues -  a slow but steady decline - now down to just 136,951 !

My advice to Kash:

1. Read this post about ".tel in the real world" on my trip to Devon !

2. Read this prophetic 2008 article about .tel and accept the truth of it !

3. Realise that with CTO Henri Asseily gone the strategic vision is lost !

4. Sell out to this company - or any other organisation who has the money and vision and communication skills and commitment and 24/7 pro-active internet culture etc etc !

This advice is free - the current investment losses for Telnic's shareholders at $35,000,000 are not !

It's game over for Telnic and .tel - now let someone else take over the .tel project before it really is too late !


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Re: Countdown to zero!

Post by Expert on Sat 26 Jul 2014, 2:36 pm

Bravo, Telnic!
You really messed it up!
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josh.
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Re: Countdown to zero!

Post by josh. on Sat 26 Jul 2014, 5:09 pm

mikeseaton wrote:4. Sell out to this company - or any other organisation who has the money and vision and communication skills and commitment and 24/7 pro-active internet culture etc etc !

Telnic has one last plan now: surviving as long as possible and waiting for a miracle meanwhile. Don't expect Telnic will give up voluntarily. We have to wait until Telnic's money will run out completely and ICANN will search for a subsequent operator.
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Toptel
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Re: Countdown to zero!

Post by Toptel on Sat 26 Jul 2014, 5:31 pm

The smartness of Telnic was overestimated a few years ago.
The longer Telnic will operate .tel, the stronger the chances for a recovery are shrinking.
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Re: Countdown to zero!

Post by Toptel on Sun 27 Jul 2014, 11:25 am

The fall of .tel happens faster than prognosticated:
http://www.teltalk.org/t1228-tel-future
We already reached 50,000 domains less than in the chart of this link.
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Re: Countdown to zero!

Post by Starfighter on Mon 28 Jul 2014, 7:06 am

Registrations will continue to go down quickly, since nobody has the energy to take action and improve the experience for end users.
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Re: Countdown to zero!

Post by Sunrise on Mon 28 Jul 2014, 4:06 pm

The only TLD in the world with strong and uninterrupted decline for years:
http://registrarstats.com/TLDHistoryChart.aspx?TLDName=TEL
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FrankW.
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Re: Countdown to zero!

Post by FrankW. on Tue 30 Sep 2014, 7:00 am

mikeseaton wrote:So instead of their 2013 accounts (legally due 9 months after Financial Year End) being filed on 30 March 2014 they are now able to be delayed by 6 months and become due on 30 September 2014.

Today Telnic has to file the account data for the financial year 2013. Soon we will know how much time is left before the money runs out.
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Re: Countdown to zero!

Post by mikeseaton on Tue 30 Sep 2014, 2:17 pm

FrankW. wrote:
mikeseaton wrote:So instead of their 2013 accounts (legally due 9 months after Financial Year End) being filed on 30 March 2014 they are now able to be delayed by 6 months and become due on 30 September 2014.

Today Telnic has to file the account data for the financial year 2013. Soon we will know how much time is left before the money runs out.

@FrankW - something very odd going on here !

Telnic extended their financial year end (having had 3 Auditors recently resign) by 6 months from 30 June 2013 to 30 December 2013 - so the accounts filing deadline then became 30 September 2014 i.e. 9 months later.

All pretty standard stuff BUT if you do a query today for Telnic on the Government's own web site at http://wck2.companieshouse.gov.uk//wcframe?name=accessCompanyInfo you get the following information:

Accounting Reference Date: 30/12
Last Accounts Made Up To: 30/06/2012  (SMALL)
Next Accounts Due: 25/12/2014
Last Return Made Up To: 29/04/2014
Next Return Due: 27/05/2015

The Accounting Reference Date (the official name for financial year end) is correctly shown as 30/12 (ie. next one is 30/12/13) BUT the accounts are shown as not due for ONE YEAR after this - on Xmas Day 25/12/14 - rather than the 9 MONTHS which has always been the normal period for delivery.

So as things stand it will be 2.5 years from the current date the accounts have been made up to (30/6/12) to the date on which a new set will be publicly available for all to view (25/12/14) - Xmas Day !

http://MikeSeaton.tel


Last edited by mikeseaton on Tue 30 Sep 2014, 3:07 pm; edited 1 time in total


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Re: Countdown to zero!

Post by mikeseaton on Tue 30 Sep 2014, 2:41 pm

Re my previous post here's how Telnic have extended their financial year end not once but twice this year !

Check out http://companycheck.co.uk/company/03555437/TELNIC-LIMITED/companies-house-docs which also shows the resignation of their 3 auditors (on 25/6/14, 10/7/14, 15/7/14) and you will note a Form AA01 Change of Accounting Reference Date was filed on 25/9/14 - 5 days before the current deadline for accounts delivery on 30/9/14.

BUT a Form AA01 Change of Accounting Reference Date has already been filed previously this year on 26/3/14 to extend their financial year end by 6 months - now 5 days before the deadline for delivery the ARD is extended by a further 3 months - so the deadline moves from 30/9/14 to Xmas Day 25/12/14 !

IS TELNIC TAKING THE **** ?

THIS EXTENSION OF ARD TWICE IN THE SAME YEAR IS EXTREMELY UNUSUAL TO PUT IT MILDLY !

WHY ARE TELNIC SO SHY ABOUT PUBLISHING THEIR LATEST ACCOUNTS FOR ALL TO VIEW ?

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Re: Countdown to zero!

Post by Tim Spears on Tue 30 Sep 2014, 5:11 pm

Telnic collected a lot of cash during landrush and after opening general availability in 2009 / 2010. Since then Telnic is losing about £4,000,000 every year:



http://companycheck.co.uk/company/03555437/TELNIC-LIMITED/financial-accounts

Hence already today no cash and no assets should appear in the current financials. No wonder Telnic tries to hide this fact.
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Re: Countdown to zero!

Post by Expert on Tue 30 Sep 2014, 6:11 pm

mikeseaton wrote:BUT a Form AA01 Change of Accounting Reference Date has already been filed previously this year on 26/3/14 to extend their financial year end by 6 months - now 5 days before the deadline for delivery the ARD is extended by a further 3 months - so the deadline moves from 30/9/14 to Xmas Day 25/12/14 !

That is forbidden - and that for two reasons:

4. Are there any restrictions on changing the accounting reference date?
You may change an accounting reference date by shortening an accounting reference period as often as you like and by as many months as you like.    
However, there are restrictions on extending accounting reference periods:

  • You may not extend a period so that it lasts more than 18 months from the start date of the accounting period unless the company is in administration;

  • You may not extend more than once in 5 years unless:
    - the company is in administration;
    - the Secretary of State has directed this; or
    - the company is aligning its accounting reference date with that of a subsidiary or parent undertaking under the law  of the UK or another state in the European Economic Area (EEA).  Countries comprising the European Economic Area (EEA) are as follows: ...


http://www.companieshouse.gov.uk/about/gbhtml/ca_gba3.shtml

The only logical explanation is that Telnic is in administration!
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Re: Countdown to zero!

Post by mikeseaton on Tue 30 Sep 2014, 6:46 pm

@Expert - Difficult to argue with your "Administration" conclusion given that Telnic Limited have now created a 21 month financial year with both 6 month and 3 month extensions applied for in 2014.

Unless of course an admin error at Companies House has let this double extension slip through unnoticed ?

I doubt that somehow - and anyway there was the resignation of their 3 Auditors recently which all points to the "end-game" having now been reached !

Not sure how you find out if a company has gone into Administration - anyone know ?

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Re: Countdown to zero!

Post by Expert on Tue 30 Sep 2014, 7:00 pm

mikeseaton wrote:Not sure how you find out if a company has gone into Administration - anyone know ?

It will take a while until the public list of UK companies in administration gets updated.
The latest list is from March 2014:
http://www.listof-companies.com/products.php?36786
But we don't know how many months ago Telnic got insolvent.
Probably it has happened in June contemporaneous with the resignation of Telnic's auditors.
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Re: Countdown to zero!

Post by Sunrise on Tue 30 Sep 2014, 7:38 pm

mikeseaton wrote:Unless of course an admin error at Companies House has let this double extension slip through unnoticed ?

That would be extremely unlikely!
The financial data of Telnic also allow no other conclusion than that Telnic is at the end.
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Re: Countdown to zero!

Post by mikeseaton on Tue 30 Sep 2014, 7:55 pm

Sunrise wrote:
mikeseaton wrote:Unless of course an admin error at Companies House has let this double extension slip through unnoticed ?

That would be extremely unlikely!
The financial data of Telnic also allow no other conclusion than that Telnic is at the end.

@Sunrise - I agree !

I STILL BELIEVE IN THE .TEL CONCEPT AND JUST HOPE IT'S NOT TOO LATE FOR A DYNAMIC 24/7 COMPANY TO TAKE OVER AND DO ALL THE CRUCIAL THINGS THAT TELNIC/TELNAMES FAILED TO GET DONE !

http://MikeSeaton.tel


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Re: Countdown to zero!

Post by FrankW. on Wed 01 Oct 2014, 2:38 am

In the current situation it will be very difficult to find a successor:

  • Telnic is the first registry of a domain extension in history that has filed for bankruptcy.
  • Customer numbers has reached an insignificant level and continue to fall fast.
  • Right now thousands of new domain extensions (= competitors) become available.
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Re: Countdown to zero!

Post by di7 on Wed 01 Oct 2014, 4:37 am

Expert wrote:Probably it has happened in June contemporaneous with the resignation of Telnic's auditors.

Probably Telnic is in administration much longer, because Telnic has changed the accounting reference date in March the first time.

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