Boiler Room Threat To Flying Sporran – Take us off your website


Bangkok December 8 2011 – A Flying Sporran Enquiry
Since the  story below was publish early today Asia Green Technologies Ltd has gone into ‘dormancy’ but not for the reasons they state. Their announcements are at the end of this report.
Link here – it won’t be up for long
A Hong Kong based ‘boiler room’ entity has demanded its name and logo be taken off this website claiming it has no knowledge of the ‘activities of organisations’ it has been associated with by the ‘Flying Sporran’.
Asia Green Technology Holdings, which has flooded the net with PR blogs, has accused the ‘Flying Sporran’ of unprofessional reporting.
But a guy called ‘John Hegarty’ states ‘We do remain curious as to why you should make such claims’.
Seems this boiler-room venture is not quite as professional as ones the Flying Sporran has had to deal with in the past.

Now Asia Green Technology Holdings Ltd., sounds good does it not? Don’t we all want to green the world. Here’s a hint for those suspecting this company might be involved in boiler room activity. Google or Bing it. If you get lots of PR stuff from so-called ‘wires’ this will be all just rubbish intended to convince people that they are trading and going places.  They are, more often than not paying to put out blurb on these services.
Here are a few examples: onlineprnews,prlog,1888prnewsrealeas, and naturally of course, capitalinvestmentbanker.
Next check out the relevant financial regulators. As this is Hong Kong for instance you could check out the Securities & Futures Commission.  Then by searching Asia Technology Holdings Ltd.  You might get something like this, which proves of course that Asia Green Holdings is linked to Devonshire and Douglas Capital Partners.

Now you could take this a little step further and find this:

So there’s another company punters should be aware of. Flying Sporran forgot to mention this one last time.  But thanks to Mr.Hegarty we can put out a warning on Provideo too.

This one is not a very good scam by the way. Asia Green Technology Holdings Ltd. was set up in Hong Kong and the end of last year and has changed directors and secretary a couple of times since. Normally these companies try to last a couple of years. There is of course no mention of any of the directors on any of their press releases, mainly written by a guy called Marcus.
Flying Sporran has some of the bank accounts used to move the money around these three companies, but dear Mr.Hegarty, sometimes readers don’t want to be bored with all that minutiae. FS does not put all the information out, and still has not. So the warning stands.
It will be removed when you pay back the people wishing to sell their shares.
And finally of course Asia Green Technology Holdings Ltd is on the EFFC – European Financial Fraud Centre boiler room warning list. Why?  Well these guys are targetting Europe, excluding Britain it seems.
Check the list out Mr. Hegarty. How is Limerick? Normally when you file a company you supply a passport number and local address. Guess you forgot in this case. I like the other address you gave but I am just going to get some biddy on the end of a phone answering for all sorts of different companies. Meanwhile investors – Beware the Greenies – this is the sort of venture two Americans – and old hands at this game – have got dozens of divs working the phones from Bangkok.

Official notice to all public investors and existing shareholders of Asian Green Technology
It has come to the attention of Asian Green Technology that a number of brokers, agents and promoters unknown to our organization are claiming to represent Asian Green Technology as financial partners of the company.
If you are approached by anyone claiming to represent Asian Green Technology with an offer to buy or sell shares, you should verify their claim directly with Asian Green Technology. The following firms are known to be misrepresenting themselves and are not in any way associated or affiliated with the company. If you receive contact or any offer from them, you should contact Asian Green Technology immediately.
Earl, Carlton and Hughes
Devonshire and Douglas Capital Partners
Please be advised we are working on long term goals and objectives and any investor who has acquired shares in Asian Green Technology for short term, windfall gains without consulting Asian Green Technology or reviewing the prospectus has done so at their own risk. If you have bought shares in Asian Green Technology in such a way, you should contact Asian Green Technology immediately.
May thanks for your continued support of our company.

Official notice to all Sponsors, Partners, Investors, debtors, creditors, suppliers, customers and all department heads of Asian Green Technology (AGT) intentions
Due to overwhelming volatility in the global markets and the negative impact such times of uncertainty traditionally have on innovative companies and the alternative energy sector in general. Asian Green Technology will be going in to a period of ‘dormancy’.
What this means is that we will cease activity in specific areas as we consolidate our position and that of the markets in which we operate. The specific area’s where our objectives will be reconsidered are as follows:-
1. Preparation for IPO and the public trading in the international markets of Asian Green Technology stock.
Given the seemingly low demand for shares issued at the pre-IPO stage and in the private markets, together with the general sentiment and mood of current investors, we anticipate a similar response in public markets but on a larger scale – low demand and a lack of real support for a new firm. Without demand, prices plummet and without support the strongest of walls will crack. These are not the outcomes we are seeking. New issues in alternative sectors are the first to feel the ‘economic pinch’ in un-certain times whilst investors look for more traditional means to protect their capital. Therefore our strategy needs to be assessed and our time-line re-evaluated.

2. Acquisition of new business units and further technologies in our sector (Alternative energies).
Since our formation, Asian Green Technology’s strategy has been to grow through mergers and acquisitions. During these times we have made some promising purchases at great prices. These are tomorrows technologies and not yet todays however. For the reasons that have brought about the reconsideration and ultimately delay to raising capital in the public markets through an IPO and combined with that fact, we have had to ‘pause’ in our acquisition plan as the capital we expected to be in place at this time is now not available.

During this period, additional time is available to us to further evaluate our current position and seek to maximize opportunities from existing assets. Also with this time, we will strive to increase our communication with all our current supporters, partners and investors to strengthen relationships and learn more about those who have more than just an interest in what we do, but those who already have a vested interest in Asian Green Technology.
In the meantime all existing acquaintances of Asian Green Technology can contact the firm though the usual channels for updates, questions or suggestions.
Many thanks & warm regards,
Corporate Communications
Asian Green Technology

Official notice to all agents, brokers and promoters of Asian Green Technology’s private equity issue.
In accordance with all previous notices sent both electronically and in original form by courier to all known agents, brokers and promoters to ‘pause’ in promoting Asian Green Technology private equity issue for the reasons addressed in those notices.
It has also now come to Asian Green Technologies attention that some brokers, agents and promoters both known and unknown to Asian Green Technology have been ‘hyping’ up the issue with short term promises to clients which are not in line with AGT’s business objectives and milestones. This serves as official notice to all brokers, agents & promoters to cease and desist in the promoting and private trading of  Asian Green Technology private equity issue. Any transaction/s conducted after the date of the official notice sent to all known brokers, agents & promoters are hereby ‘officially & legally’ recognized as null and void.
Such behavior is not indicative of the support a new issue requires from its early stage investors and Asian Green Technology takes a strong legal stance on those knowingly involved in such activity and acting without the full co-operation of the lead underwriter in the Asian Green Technology private equity syndicate.
Many thanks for your continued support of Asian Green Technology.
Investor Relations
Asian Green Technology
LINK:Britons flee Bangkok boiler room

 NB: Neither letters are signed

About the Author

Andrew Drummond

Andrew Drummond is a British independent journalist and occasional television documentary maker. He is a former Fleet Street, London, journalist having worked at the Evening Standard, Daily Mail, Mail on Sunday, News of the World, Observer and The Times.

Leave a Reply

Your email address will not be published. Required fields are marked *


This site uses Akismet to reduce spam. Learn how your comment data is processed.