By Tom Winnifrith, The Sheriff of AIM | Saturday 17 December 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On 11 December 2015, Cloudtag (CTAG) proudly announced in a RNS that Jessie Pavelka was being appointed as its Global Brand Ambassador and stated:
“In keeping with the Company's strategy to align all key partners, Jessie's remuneration comprises of a monthly payment of cash and shares with an emphasis on driving product sales in 2016 and beyond. In addition to promoting the company to consumers throughout the product launch at the Consumer Electronics Show in January 2016 and through Jessie's social media and public appearances.”
Jessie doesn’t appear on the new website or hasn’t been as active recently in social media. Has he been fired or did he resign due to lack of sales? I think we should be told given his appointment was deemed worthy of an RNS.
He appears to have simply been erased from corporate history a bit like Matt Roberts who was the previous fitness trainer associated with Cloudtag at the tiem of the IPO.
“A trade mark licence agreement dated 13 December 2012, as subsequently varied, between Matt Roberts Personal Training Limited and CloudTag Active pursuant to which Matt Roberts Personal Training Limited granted to CloudTag Active a licence to use the “Matt Roberts” trade mark in connection with the Product until 31 December 2015. The agreement is terminable prior to such date for breach, including CloudTag Active’s failure to meet annual performance targets. CloudTag Active will pay a royalty of 10 per cent. of sales of products bearing the “Matt Roberts” trade mark subject to an obligation to pay a minimum royalty of £50,000 during 2015 and of £125,000 during 2016.”
I wonder how much Cloudtag was paying Jessie and what his termination package has cost shareholders and how they will drive sales without a Global Ambassador?"
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