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Telnic Ltd. officially declares NEGATIVE NET WORTH !

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mikeseaton
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Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by mikeseaton on Tue 17 Jan 2017, 9:37 am

Telnic Ltd. have now submitted their overdue accounts to Companies House, made up to 31 December 2015.

Here’s the shocking truth about their finances - Telnic Ltd. have a Negative Net Worth of £636,500 (with £15,700 cash in the bank).

This was as at 31 December 2015 - seems unlikely things would have improved in the 12 months since then - no wonder they were so keen to delay their accounts publication until after the ICANN renewal decision !

So ICANN, where does Telnic Ltd. go from here, with 10 years operation of .TEL to fund ?

http://MikeSeaton.tel

Source: https://companycheck.co.uk/company/03555437/TELNIC-LIMITED/financials#key-financials


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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by whatthetel on Tue 17 Jan 2017, 10:33 am

That's great news! it's fixable, it's not a massive amount to recoup based on the income/revenue they get. this is not sarcasm, in relative terms it only needs a small investment injection of 1 or 2 million, and they wont invest that until they see more sales and less hemorrhaging through sub domains and overhead etc. We know hes got the money to fix it, but there is no point investing his cash just yet. other than to hide embarrassment.
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by mikeseaton on Tue 17 Jan 2017, 4:20 pm

whatthetel wrote:...in relative terms it only needs a small investment injection of 1 or 2 million, and they wont invest that until they see more sales and less hemorrhaging through sub domains and overhead etc. We know hes got the money to fix it...

@whatthetel - I assume you are talking about CEO Kash putting money in to save his company from running out of funds to operate ?

It doesn't work like that though - any capital injection has to come from ALL shareholders in proportion to their equity stake already held in the company Telnic Ltd.

From memory I believe the stake Kash has in Telnic Ltd.is less than 10% - so he would need  ALL shareholders of the other 90% plus to also put in funds - is that likely to happen given that $35,000,000 has already gone down the drain ?

It really is time for Telnic Ltd. to hand over the running of the .TEL gTLD to a dynamic financially secure company such as Afilias who, as some forum members will know, have already expressed a potential interest in doing this !

http://MikeSeaton.tel

PS. Note to Kash - please update Kash.tel to show you are CEO of Telnic Ltd., rather than still referring to the now defunct Telnames Ltd !


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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by mikeseaton on Sat 21 Jan 2017, 10:55 am

mikeseaton wrote:Telnic Ltd. have now submitted their overdue accounts to Companies House, made up to 31 December 2015.

Here’s the shocking truth about their finances - Telnic Ltd. have a Negative Net Worth of £636,500 (with £15,700 cash in the bank).

This was as at 31 December 2015 - seems unlikely things would have improved in the 12 months since then - no wonder they were so keen to delay their accounts publication until after the ICANN renewal decision !

So ICANN, where does Telnic Ltd. go from here, with 10 years operation of .TEL to fund ?

http://MikeSeaton.tel

Source: https://companycheck.co.uk/company/03555437/TELNIC-LIMITED/financials#key-financials

It appears Telnic Ltd. have what's called "Accounting Insolvency" defined as:

Accounting insolvency is what occurs if a business’ total liabilities are greater than their total assets, thus giving them a negative net worth.

Maybe they need to call the turnaround specialists at http://www.recoveryandturnaround.co.uk/news/what-is-insolvency ?

http://MikeSeaton.tel


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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Thu 26 Jan 2017, 10:19 am

A spell what Telnic's negative NetWorth balance could be at 2016, about: - £4,300,000



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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Thu 26 Jan 2017, 3:31 pm

*... spell what Telnic's ... = ... guess what Telnic's... (misprint : ) )

P.S.
Working in such tempo, Telnic in the next 9 years will again reach the magical number of 35,000,000.
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by Expert on Sun 29 Jan 2017, 8:20 am

@maxi

That's a very realistic scenario!

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Mon 30 Jan 2017, 7:52 am

Expert wrote:That's a very realistic scenario!
Debts of few millions are pretty good money. How it happens that creditors do not want their money back?
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by Expert on Mon 30 Jan 2017, 10:34 am

maxi wrote:Debts of few millions are pretty good money. How it happens that creditors do not want their money back?

The more money you ask for, the easier is it to get it.
For the financial markets, such amount is just peanuts!

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Thu 09 Feb 2017, 11:17 am

If Telnic moves towards the bottom, then perhaps soon will come an optimal moment to buy Telnic LTD shares from one of it's shareholders.

Mr.Cash owns (if I remember well) about 6 - 8 % of Telnic shares. The rest owners own 92 - 94 %. May be somebody of them is already tired from these games and want to retire from business? ; )

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Thu 23 Feb 2017, 7:06 pm

If Telnic will continue the same trend of negative net worth, for how long it can survive without money? May be I will not do a mistake, if I say that you cannot live in debts forever. Sooner or later it should end.

What do you think, what could be the scenario of future of Telnic?
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by 4444 on Thu 30 Mar 2017, 7:41 pm

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by Blunderer on Sat 01 Apr 2017, 6:45 am

Is there a point to all this? You see, where I come from, they would say you are spouting rubbish.

Looking at accounts for 2015, you are predicting failure in 2016 (your graph, not mine), yet here we are in 2017, with a new product offering - liberated .tel, which most users of the site have demanded (frequently with menaces), and the adoption of the one page site as the main .tel offering. So what's your problem?

I'll admit the change has been a major annoyance to me but, a company on the way out? I don't think so. More like a company adapting to the disappointment of failure by the majority of purchasers of it's product to achieve anything worthwhile with it because they only viewed it as an investment that was going to make them a fortune, with the minimum of work.

From my point of view, the subject of this topic, and a good few other topics on this site, only serve to devalue my investment, and yours too.

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Sat 01 Apr 2017, 9:06 am

Blunderer wrote:From my point of view, the subject of this topic ...only serve to devalue my investment, and yours too.
Blunderer, I hope that you will agree with me that any investments never were a sure thing. During many years you can every day risk you time, labor and money, but that does not mean that your win will be guaranteed. The current story with a TEL is a good example of this.

My personal investments were devaluted when Telnic announced cancelation of original DNS concept with it's free Telhosting DashPanel with its 3000 subdomains.

I personally would not invest a single rusty penny for any newTLD with their freedom to create ordinary sites on ordinary hosting.

And now, when TEL had joined the company of these newTLD, I also see no sense of investing in TELs.

Some people live by the motto “no risk no fun”, some live by another mottos, but I personally think that the best policy in life is to take great care in getting involved in various speculations and investing (domains investments including), and never risk all your money.

So, then we want to take care of our money and not to lose them, we need see all sides of a situation, its negative and dirty sides including.

Of course, as an option, we can be silent and wear pink glasses and not to say a word when we see our interests are broken - and then we will be "nice guys" for everyone. With pink glasses life and people around may seem nice, but when wearing pink glasses you're at constant risk of losing your money.


Last edited by maxi on Sat 01 Apr 2017, 9:42 am; edited 4 times in total

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Sat 01 Apr 2017, 9:19 am

P.S.
I think if Telnic wants to have loyal and "politically correct" customers, who will praise them in every post, then first of all they need to learn to hear customers' voices and begin to do what customers need and about what they ask.
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by Sunrise on Sat 01 Apr 2017, 9:40 am

@Blunderer

I fully understand your point of view.
But please understand the following, too:
Telnic prevented any positive change for 8 years.
Many stakeholders have tried to convince Telnic to be more proactive and have failed for so long.
The best way to change things to the positive is to be as transparent as possible.
Since Telnic has played hide and seek all this time, what else could we do to improve the .tel product?
The biggest problem for .tel was the resistance of Telnic against innovation, transparency and stakeholder management.
We all have to carry the consequences for it.
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by mikeseaton on Sat 01 Apr 2017, 11:40 am

@maxi, @Sunrise, well said - in business those who refuse to face current reality tend to end up losing their shirt !

My personal take on the situation is that is that the recent liberalisation of .TEL on 13 March was The smartest move Telnic ever made !

Just not sure if it's too little too late for Telnic Ltd the company to survive, given their Negative Net Worth recorded 15 months ago on 31 December 2015 ?

The prospects for the .TEL gTLD however I believe are very bright, though it may need a takeover by someone like Afilias to realise the true worldwide potential - as many forum members will know they were at one time potentially interested in buying out the .TEL project but Kash wouldn't play ball !

http://MikeSeaton.tel

PS. I am doing all I can to help promote the post 13 March .TEL e.g. see last 5 entries my personal .TEL domain


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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by Blunderer on Sat 01 Apr 2017, 12:47 pm

OK you guys, carry on doing what you think best. For my part, if I had a used car to sell, I wouldn't publicly criticise the manufacturer. And if you think afilias are the boy's for the job, Mike, you keep on promoting them, after all, they have been spectacularly successful with .info and .mobi, etc..

Me? I'll play the hand I've been dealt.
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by Sunrise on Sat 01 Apr 2017, 1:19 pm

@Blunderer

Thank you for sharing your opinion.
I'm also thinking about what's the best thing to do.
What do you recommend with the new situation (the combination of Telnames Telhosting and web hosting)?
Should we accept the unlucky .tel history and try a fresh start?
If yes, should we ask the forum administration to delete all irrelevant information on this forum?
I could imagine that the forum owner has also some interest in an improved environment for .tel.
What other ideas do you have to help .tel?

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Sat 01 Apr 2017, 1:53 pm

Sunrise, my humble imho to your question (which, if I understood right, was addressed to us all): : )

Sunrise wrote:What do you recommend with the new situation (the combination of Telnames Telhosting and web hosting)?
Whatever strategy we will choose, expences on it should not affect our finances and our normal life.

Sunrise wrote:... should we ask the forum administration to delete all irrelevant information on this forum?
Will this be the best solution:

?

Sunrise wrote:What other ideas do you have to help .tel?
Telnic's bankruptcy - and as a consequence, changing the company who will rule extension could help TEL very much.
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by Sunrise on Sat 01 Apr 2017, 2:11 pm

@maxi

What will waiting for Telnic's bankruptcy bring?
If .tel won't be successful with the new concept, then do you think it will be ever successful?
Where is the benefit?

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Sat 01 Apr 2017, 2:24 pm

Sunrise wrote:What will waiting for Telnic's bankruptcy bring?
... Where is the benefit?
In 2009 I invested in TEL with promised functionality on DashPanel with free 3000 subdomains and Telhosting on DNS. I think most of TEL owners also invested in this - and not in one of numerious newTDL "with ordinary hosting".

What we wanted from Telnic: the original TEL with its 3000 subdomains and with the DashPanel from Telnames (with it's ability to download images, Ads and etc. directly and without third-party services).

It was not a rocket science. Any other company would do this in a week, but not Telnic.
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by Sunrise on Sat 01 Apr 2017, 3:57 pm

@maxi

Very good argument.
But the DNS concept died on 13th March.
If the DNS idea will get another chance, then not with .tel.

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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by maxi on Sat 01 Apr 2017, 4:44 pm

Sunrise wrote:But the DNS concept died on 13th March.
If the DNS idea will get another chance, then not with .tel.
Sunrise, it did not died but it was cancelled by Telnic's decision. After Telnic's bankruptcy new company who will take the extension from Telnic, could easily switch it on again. It is all a question of good will, not any technical question.
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Re: Telnic Ltd. officially declares NEGATIVE NET WORTH !

Post by MWX on Sun 02 Apr 2017, 12:56 pm

Telnic had a bad relationship with its customers in the past.

I would suggest to use this forum to post more optimistic comments about .tel in the future to help all of us.

(But don't speculate on the theoretical bankruptcy of Telnic. Telnic has more strength to survive than the .tel buyers.)

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