Cape Verde Islands

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 Post subject: Re: SAMBALA out of business
PostPosted: Tue May 07, 2013 8:37 pm 
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Joined: Fri Jul 13, 2012 8:19 pm
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there is a few sambala spies on here everyone worried ,sambala are doin a good job of keeping them quiet , why dont the dirty dozen reunite


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 Post subject: Re: SAMBALA out of business
PostPosted: Thu May 16, 2013 10:52 am 
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Panther, I don't quite agree with U. Why is anyone scared to speak the truth? Go back 2 or 3 years and see that the naysayers on here were proved right. Some were kicked off the forum. Those that were still givin Sambala the benefit of the doubt (and who could blame em for tryin to keep positive) were not kicked off but it seems they have all disappeared now. Is anyone willing to stick up for Sambala now?

The Sambala forum on here is all but dead now and the Sambala 'Friends' forum is on life support too. Maybe they need to rename the 'Friends' bit.

Ah well. I think I'll take a break 4 a while till something proper develops (and I mean facts, not lies). Gettin lonely on here (no offence Panther)

For anyone still payin attention - a strange kinda statement at capeverdeinvesting.blogspot.com yesterday. Not much new being said but someone must have accused the blogger of something.

With this whole saga, as they say: lies have a short life but the truth lasts forever. Sambala investors (well most of em) have learned that bigstyle over the years.

The last 1 out pls switch the lights off!


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 Post subject: Re: SAMBALA out of business
PostPosted: Fri Jun 21, 2013 10:37 am 
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No need to turn the lights off, most likely electricity cut off long ago. So the reps met this week, an expression that makes me laugh as who are they actually representing. Even they were hostile not that that was conveyed in the minutes spun by the master of deception. So the equity deal that took months to agree and was delayed just by signing now seems to have vanished. Funny that! But don't worry a new deal is in place but guess what just delayed for signing!!!! A high street bank willing to lend millions how ironic!!!!!! But in the mean time investors, we will have to bill you to make you piece of rubbish that we built "to top European standards" habitable, at investor expense!!!!!!!! Oh and underpinning is needed, that fid suprise me, not because of the gaping holes but that it was done and signed off but that engineer, remember him, the guy that said everything was high spec!!!! Can we at least be honest about that??? Did we not already pay for it to be 5 star????? Oh and the hotel now gazumps that golf course we promised, hope the EPGA don't mind as they were signing in 2008 just a small delay due to contract talks, but I remember so fondly those announcements of exciting golf news before every cash call!!!!! Probably most surprised the bank will lend with the injunction in place, or has the injunction that never existed been lifted successfully now McCon? All in all I feel like I'm trapped in a nightmare where every month is only different by the exciting new news that never happens and is never exciting just a tweak of the same d trash. Thanks god this will all end very soon like all the other rogue developments.


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 Post subject: Re: SAMBALA out of business
PostPosted: Sat Jun 22, 2013 3:08 pm 
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Checking the wording of the latest minutes and if it was a book they'd be done for plagerism.
Third time now almost identical wording; negotiation been going on for months, we're due to sign, these things take longer than you'd think, will be signed very soon.
Of course no names are ever mentioned, new investors, equity investment, new partners, now new banks. Why new banks?? Well when you owe too much to the banks in one country makes sense to look abroad right????? Sooner or later an update will have a previous years date on, a bit like when the jokers wrote St Johns CV. Do the reps not recognise when they hear the same rubbish or do they just sit there thinking awesome new plan Dom? Prizes for what sort of institution will be about to sign next.....


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 Post subject: Re: SAMBALA out of business
PostPosted: Sun Jun 23, 2013 4:19 pm 
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What you say is true. All been said before by Sambala. Now Dom don't even bother to rewrite it or dress it different cos owners and some investors just keep on believing it!

They R now claiming the absolute impossible:

1. Some banks R just gonna lend 'em multimillions without doing any checking up on all their debts and legal claims and workmanship.

2. They R gonna do all the work and upgrades before December. They must think investors are completely stupid.

If Donald Trump took over tomorrow, bypassed customs and container ships and flew in all the workmen and materials 2 do the job as quick as poss he'd still need at least a year from now just 2 finish Sambala Village and then another couple of months 2 get it signed off. The reality of the situ is completely different.

Some of the wiser investors predicted 3 or 4 years ago that this would be strung out 4 years. We now see it has. If it all stopped tomorrow Domboy would be out of a job (and couldnt get 1 in MacDonalds) and Grepne too and he'd lose all hope o getting any money from his project. They R so lucky the banks dont know what else 2 do with it but let it rot.

December will come and go again with nowt bein done


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 Post subject: Re: SAMBALA out of business
PostPosted: Sun Jun 23, 2013 7:44 pm 
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Jung,

I 4got to say - I don't agree they could go to yet more banks 4 money. Especially not outside CV. How could they? 3 CV banks each have first charge over the 3 phases SV, VDS and Fogos (or something like it). So how can other banks lend money on those assets without getting the first charge over 'em. Answer is - they aint allowed to under banking rules.

What R the chances the 3 banks will hand over their security to other funders? None whatsoever. And any new funder would want security over the land, which they aint ever gonna get unless they clear all the bank debt first plus get proof there aint no outstanding claims by investors and other creditors (which there is plenty of).

The 3 banks can't lend anymore (as if they'd be mug enough). Those loans are already maxed out.

So all Greps can try is give a new funder security over the less valuable scraps of land like the golf course, which aint worth a lot and probs aint worth jackshit until the 3 phases are built. Even then, what is a golf course worth? - its only grass. Not multi millions.

So 2 get SV finished Domboy says he needs another €15m (so make that at least €20m). That could make total debt on SV alone close to €30m (add 2 that the interest on the loans which will b high to compensate 4 the risk). All thats gotta be paid back 2 the lenders b4 owners get their deeds. But, hey, thats only about €130k debt per property still 2 go to deeds. Investors dont owe even a third of that in stage payments. The financial situ for VDS is twice as dire. Is Bernie Madoff's accountant still around. I think he could be useful.

The new restaurant is 2 be called 'The Bluff' according 2 the latest plans. How appropriate.

Aint foolin nobody, Sambala.


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 Post subject: Re: SAMBALA out of business
PostPosted: Sun Jun 23, 2013 7:49 pm 
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Ain't fooling no one accept the reps I guess.
Doms job Press control c and control v once a year, blag your way through the odd reps meeting, lie to CV press and investors and for that he scoops 250k and we pay his rent!


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 Post subject: Re: SAMBALA out of business
PostPosted: Mon Jun 24, 2013 11:47 am 
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Funny - last summer they said they'd start work on the Village on 1st Sept with the hope it would be finished by Dec 2013. That's 15 months work. But now there is double the work to do but they can now do it all within 3 or 4 months. LOL!!!

They also said less than 250 properties still 2 go to deed on Village. I was probably overguessing my figures in my last post. This is cos most Village people took up the IPO in 2009 and quite a few had already paid up in full in 2005 for a discount. So say that either 1 or 2 final stage payments is due on about 100 of these apartments so that averages only €20k tops per apt. That's only €2m Sambala can now claim from investors to finish the Village but they need €15m for construction, up to €10m to clear the debt and then there is all those expenses and director wages.

That's a huge shortfall of nearly €25m. Even worse if half the Village investors refuse to pay for 1 reason or another.

Even the money they try to get in from VDS foundations payments wont plug that hole!!!

How long will it take management to make €25m from the resort after Viceroy and owners take the lions share o the rental? Answer - forbloodyever!!! It just dont make any sense M8.


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 Post subject: Re: SAMBALA out of business
PostPosted: Wed Jun 26, 2013 3:35 pm 
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and yet still some think that buyers should stay quiet and not pool their efforts and it does not matter where the money comes from. It is precisely because the money is not coming in as PROMISED over a year ago that people should be rightly concerned. Only a partial or better still, a full buyout could rescue this from the abyss. I can not see how anyone that is a buyer with a large amount already handed over can possibly be as optimistic as a certain individual on that forum. It is because that person posing as a property buyer is surely Dominic.


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 Post subject: Re: SAMBALA out of business
PostPosted: Wed Jun 26, 2013 7:09 pm 
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Stan the post on the forum you mention are hilarious! Some of those posters may even pay more money!!!!!! You just couldn't make it up, unless you are a serial liar desparate for others to keep paying your rent of course. World banks told this week to ease up on risky loans, at the same time D claims to have secured 15million on the hight street, you tried getting an over draft lately.... They must have found the idea of putting in 15 million to a project that already had about 50 and achieved nothing just too compelling.... When this turns out to be the next scam what will next years be?? Oh I know a well known Dragon is about to invest, negotiations are on going, can't tell you which one but about to sign soon., resort will open next month as long as anyone still alive kicks in some more cash. Dread to think what the cash call will be like when school fees kick in, right where's my cheque book....


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