Many R’s Podcast – S2E2 (Part 2) – take 19

posted 25 January 2023

Season 2 – Episode 2.5 – take 19 Many R’s Podcast

Welcome to Season 2 Episode 2 (Part 2) take 19 censored of the Many R’s Podcast featuring our centrefold Steve G Papermaster. This series is presented by Mark J Smith of DC Partners Solutions, Sydney, Australia. Well – we’ve been banned again.

Chapters:

0:01 – opening music – Stop the presses greeting from Mark Smith discussing banning / Youtube violations.

5:06 – uncensored …. original greeting by Mark Smith, episode overview Where to find transcripts for S2E2 (Part 1) ….

go to: https://www.dcpartners.solutions/2022/11/many-rs-podcast-s2e2/ and view the transcript.

https://www.dcpartners.solutions/2023/01/many-rs-podcast-s2e2-part-2/ and view the transcript

but not the censored youtube video Where to find transcripts for S2E2 (Part 2 – now censored) ….

go to: https://www.dcpartners.solutions/2022/11/many-rs-podcast-s2e2/ and view the transcript.

Overview – discussed alleged writ from Leonie Hill Capital Pte Ltd and Arun Kant v DC Partners Solutions Pty Ltd and Mark James Smith in the State of Texas, USA.

Overview – discussed letter from lawyers for Leonie Hill Capital Pte Ltd and Arun Kant dated 16 December 2022 sent to Mark Smith

6:15 – Steve Clemons, The Hill Overview – re the censored bank statement / bank ledger

8:10 Overview – discussed alleged writ from Leonie Hill Capital Pte Ltd and Arun Kant v DC Partners Solutions Pty Ltd and Mark James Smith in the State of Texas, USA.

9:55 – reminder, #whoisstevepapermaster ?

11:00 – Steve Papermaster & Ernst & Young.

11:25 – reminder, Who is Arun Kant of Leonie Hill Capital Pte Ltd? – www.arunkantmba.com for more information

14:34 – Who is Bobby Lau of Leonie Hill Capital Pte Ltd?

15:05 – Who is Wee Meng Thoo of Leonie Hill Capital Pte Ltd? 16:35 – questioning representations made by Arun Kant of Leonie Hill Capital Pte Ltd 18:30 – censored portions discussed

18:49 – what isn’t censored – extract from Journalism for Sale / “The Future of Healthcare Summit” interview by Steve Clemons of Steve Papermaster, filed 2 July 2019. – detailed forensic analysis of timeline – censored

24:40 – interview of Arun Kant and Steve Papermaster (extract)

25:25 – reflections on the representations of Steve Clemons re Arun Kant and others investing around US$200m into Papermaster companies. – detailed forensic analysis of timeline – censored

26:19 – analysis of transactions involving Henry Legere

26:50 – documents relating to Henry Legere published by Steve Papermaster and Nano.

30:00 – Steve Papermaster & Nano – Management Guidance Statement document

31:00 – email to Arun Kant from whale investor.

33:30 – analysis of Arun Kant’s role on the board of Nano Global, Inc as a shadow director.

34:00 – continued analysis of email to Arun Kant from whale investor.

37:30 – continued analysis of SMS from Arun Kant to Mark Smith re email to Arun Kant from whale investor.

39:40 – continued analysis of email to Arun Kant from whale investor.

41:00 – review of documents re relationship between Nano, Steve Papermaster outlining role of Henry Legere as Nano, Chief Medical Officer.

41:45 – review of Mozido Inc suit of Appconomy and Steve Papermaster, Alibaba and Arun Kant. tba continued … incomplete.

43:30 – analysis of email from Arun Kant to Mark Smith, September 2020.

46:30 – discussions re video with Steve Clemons, Arun Kant called “Fireside chat”

51:00 – continued analysis of correspondence with Henry Legere.

1:05:30 – analysis of allegedly filed materials in the District Court of Texas between Leonie Hill Capital Pte Ltd v Mark Smith, continued discussion re: Mozido Inc case and possibility of an Arun Kant investor, Alibaba’s participation?

1:10:25 – wrap up of the previously uncensored / censored episode – S2E2.5 (part 2).

1:20:00 – credits

1:21:57 – end

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner of www.dcpartners.solutions/podcast – instant message us or instant chat with us on www.dcpartners.solutions thank you.

Documents referred to:

  • Bank statement / bank ledger – Excel format
  • Bank statement – line referencing payments of money to a “Steve Clemons” in the sum of $14,061.99
  • Correspondence with The Hill – Managers and Editors re: Steve Clemons selling editorial space for $14,061.99?
  • Capsheet – Investors
  • Correspondence between whale investor and Arun Kant – representations made
  • Email between Arun and Matt W and others.

Transcript (prior to censorship):

Rogues Rascals reviewables roads rip-offs receivers real estate agents and much much more this is the mini hours podcast season 2 episode 2 part 2 take 19. well this is the episode that a real Khan does not want you to hear we’ve had many many violation notices from YouTube doesn’t want you to sit here so if you want to know what a real [ __ ] doesn’t want you to know tune in now or go to our website dcparts.solutionspodcast and look up the transcripts of the centered versions and much much more well hi welcome to this episode uh this is about the 20th take uh of this particular episode and we’ve received uh from YouTube some violation notices and it’s not because of anything defamatory uh apparently the bank statements uh a real card doesn’t want anyone to see what was really going on and uh we’ve got even more so look this uh this episode I’d have to say now is a dog’s breakfast we’ve had to rip out um we’ve had to rip out the bank statement section which doesn’t mean you can’t go to our website and search for it uh it’ll be there uh but uh well the bank statements will be there for anyone to look at I guess the reason we’re publishing this retake of this dog’s breakfast is so that the rest of the episode makes it up there other than the bank statements there’s an important story to tell here uh we’ve got a couple of people Mr papermaster who’s running around the Kingdom of Saudi Arabia now uh ripping off uh kings and queens and whatever over there he’s been here to Australia that’s that’s my interest and uh my clients have been ripped off uh for millions and millions of dollars and I’m going to put up a video uh in season two episode three we’ll be publishing a recent video of Mr Paper master I think he’s changed his name apparently uh uh Steve papermaster is now Stephen paper master so we’re going to put up this recent video it’s out there in the uh on the internet um we’re happy we’re just going to re-show it and put it out there he it it shows very very clearly that intellectual property that did belong to the company that he raised uh millions and millions of dollars about 64 million US dollars so it’s about a hundred million of Aussie dollars uh and some of that he raised from Australian investors well he’s just rebirth them so this is nothing but a fraudster and a con artist who rips off investors and he’s ripped off a very very nice family man that I know a very very nice family man and uh he’s ripped off a number of whales and these are you know uh very successful business people uh almost as successful as you can possibly be uh anyway that’s my interest is uh the contents of this particular episode clearly uh people like a real card and Steve papermaster don’t want you to know about them there’s also Steve Clemens who’s been particularly silent this is the journalist that you can buy for 14 000 and 61.99 according to the bank statements that you can’t see so if you do want to see those bank statements you’ll have to go to my website I’m sorry it’s dcpartners.solution podcast and um there’s a it’s not a bank statement but it is a bank Ledger and no one has sued me and said that these Bank ledgers are false so uh we have got um very threatening letters from lawyers for a real [ __ ] uh in from Singapore and now I’m going to publish that particular uh letter it’s going to have a few reductions on uh but you can see you can see what they want me to do uh well I’ll put it up on my website if you wish to see that particular letter so there’s lots more content if anyone thinks that we’re quitting or going away uh that’s completely wrong okay so um this is uh now we’re witnessing the rebirthing of Stalin intellectual property or um

I’d have to say probably fraudulently obtained intellectual property uh and you can see that on this video there’s very very clear references to a SoftBank and arm and this intellectual property belonged to another company as I said but Aussies and many others invested about 64 million US Dollars into and that’s all been rebirthed into a Abu Dhabi company so I don’t know whether Abu Dhabi chops off the hands of Thieves? and I don’t know if um I think Saudi Arabia might have laws kind of like that um where it’s uh thieving is not something that’s tolerated so uh we you never know whether you’ll see Steve papermaster wandering around without it so we’re going to publish this dog’s breakfast and whatever’s left minus the bank statements uh we’re going to republish that as the censored version of season two episode two and a half sense it and there’s more episodes to come there’s more content as I said going up on our podcast on our website dcpartners.podcast and you’ll be able to find uh from there all sorts of links to Mr papermaster a real [ __ ] or Arun card however you pronounce it leonie Hill Capital uh We’ve also bought a number of other domains so watch this space uh in particular you might want to watch The Domain can’t or a a r u n k-a-n-t-m-b-a.com and we’ve also got one on Steve Clemons so many many exciting uh things or you could always check into stephenpapermaster.com which is a domain that I um check it out and subscribe watch this site and enjoy the rest of this dog’s breakfast of what’s left after the YouTube sensors and a real can’t have had their wishes and um butchered this episode thanks very much bye-bye well welcome to season two episode two part two uh my name is Mark Smith and um I am joined by some bird life out here uh in my garden so I do apologize it’s it’s not a recording it is a series of beautiful birds out there in the background I hope you don’t mind having them in the background um well we’re going to have a look at um a deeper dive so if you haven’t seen part one of season two episode two then you do need to probably go back and we’ll include a link down below uh to season two episode two in other words part one uh in part at the end of part two we ended that um we talked about well this was recorded in the middle of November and we talked about the need for a very careful and forensic look at some documents so

most of them are discussed over my shoulder here whoops over my shoulder here uh on the backdrop um and we’re going to go through Abyss we’re going to have a look at Steven papermaster again we’re going to just remind ourselves who is Stephen papermaster or Steve papermaster uh who is Aaron Kant who is leonie Hill capital and why are they important we’re also going to look at a journalist who’s come to our attention uh in something we’ll show you today uh called Steve plemons uh journalist at the hill now uh Steve has interviewed Steve Clements has interviewed paper Master uh may have interviewed Aaron Kent as well uh but certainly discussed Aaron can’t and uh I’m absolutely sure he has talked to Aaron Kant uh based on some uh transcript that we’ll have a look at and we will actually have a look at an interview from the 1st of July 2019 and we’ll discuss exactly why that’s important in a little bit uh we’re going to discuss a document that includes Henry lagia now Henry ligue I think is is uh a good honest person and uh his company is called Reliant immune Diagnostic Center at one stage he was the incoming Nano Global president and chief medical officer at one state but incoming I don’t believe he ever took that role um and I think it was very smart to avoid that role and particularly uh you’ll see why in a minute we’re going to go through this very carefully so it’s actually taken me a little bit longer to get to where but we’re going to go through a bank statement or lyncher that’s been provided to us and we’re going to go through it we talked at the end of episode well part one that we would go through it line by line we probably won’t go through every single line there’s about 1 200 lines but boy there are some very interesting lines in there so we’re going to go through it I rely on the completeness and correctness of this now this has been provided to me um indirectly um from papermaster’s office I believe it’s correct I rely on its correctness four statements that are made in this podcast and I disclaim to the extent of any incorrectness I’ve done my best to uh satisfy myself for the veracity of this document but to the extent of any incorrectness uh well I just can’t I disclaim that so I’m just the um statements that I make are to the effect that this Ledger and this bank statement and the related documents are true and correct business records

I’m also going to discuss an alleged writ now I’m I haven’t seen this uh an alleged writ against your blogger um and one of my companies uh in the state of Texas now I have a reason to believe a red has been filed uh I certainly um has it today it’s the 17th of December 10 47 am right now as at right this moment the time of recording I have not been personally served nor has my company been personally served right now I’m at the registered office of that company so if someone comes up and turn uh serves that document right now uh then I’ll discuss it on there otherwise we’re going to wear it and uh it has not been served but I’ll discuss why I think there is a writ on its way and the source of that knowledge I’ll also discuss a letter that I received overnight and as I said I’ve been very carefully going through this bank statement and this Ledger and researching I’ve also discovered something something some things uh really about a guy called Steve Clemens from the hill and uh the hill is a publication that uh Aaron can’t certainly been discussed in and uh leonie Hill capital and state papermaster have been Steve papermaster has been interviewed numerous times by Steve Clemens and we’ll discuss Steve Clements connection with the bank statement

now I’m not alleging that there is any corruption I’m just reporting that Steve Clemens appears on the next statement

I’ve written to State clemence’s bosses asking for an explanation and I don’t have one so I’ll include a copy of that correspondence uh I may well include a copy of a letter as I said received overnight and information I have on a alleged route in the state of Texas against myself and my companies

all right so who again is Steve papermaster and who is Aaron Kent Aaron can’t and who is leonie Hill capital and why does this blogger give you [ __ ] well um Steve papermaster came to Australia and um

may have been involved in a car accident and may have been involved in some entertainment um certainly met investors in Australia and um just so happens that uh at least one of those investors is my client and um

considers himself a victim of this sleep paper master um Steve claims to be an expert at everything claims to have worked in the white house for eight years for George W bush claims to be a police yeah like a policy expert um this is his uh Wikipedia page um Wikipedia.org wiki Steven underscore papermaster so uh it’s there for everyone to see uh and if you Google Steve papermaster it’s the very first item you will see uh Steve Once Upon a Time uh was very close to Winston young he’s since been disowned and if you need a reminder personally young recommends I have nothing to do with him and they’ve designed him they will not promote him uh they’re forbidden from promoting him uh so they’ve uh I think the words were dissolved all of their business dealings Ernst young so uh he’s got leprosy according to Ernst young uh so maybe they know something that the rest of the world doesn’t know uh Aaron can’t well once upon a time Aaron can’t and Steve papermaster appear to be uh best buddies and uh is played over two and uh there’s also a few videos they appear in and they appeared on stage uh spooking about what Geniuses they both are and um uh I’ll make sure I include a picture of a heron can’t nodding his head yeah he’s an expert right um

as far as I know Aaron certainly is but I believe was uh CEO managing director of a company called Leoni Hill capital and leony Hill capital uh claims to be an exempt funds manager based in Singapore takes pride in being a you know hedge fund and a venture capitalist and private Equity Firm and all the rest this is some things that you’ll find on the website and I’ve included a profile here on Aaron Kant he was the chief risk officer and chief executive and all the rest so once again let’s just have a quick look at leonie Hill capital’s website this is an archive version you can’t see this right now but this is who they are Aaron Kent as I said chief executive officer Chief risk officer this this certainly was uh the case or this was the contents of their website until just recently and I will put down here down below a link to uh it’s called Acra which is the government regulator for companies in Singapore and does list the names of the officers and the shareholders and Aaron can’t is um certainly one of those that shareholders this website lists him as the chief risk and chief compliance officer so Aaron’s out there looking after investors interest Disney um and why that’s relevant is uh when he makes certain representations about the strength of Nano e and uh the company’s commitment to an investment it’s after a long period of uh diligence I suppose you’d call it so Aaron is apparently is an entrepreneur and investor he’s been around 26 years so he hasn’t just blown in uh this is what he holds out to the world that uh he is a general manager and CEO at startups and Fortune 500 companies in the US Europe and Asia all of those so he’s uh apparently no blowing a diverse background in building Enterprises Focus focused startups he claims you saw him nod his head just a moment ago that was to a question whether he was a um a guru at early stage Investments yep yep got in on SpaceX Tesla uh Baidu 10 cent uh Alibaba gun gun investor that was that was what he said yep that’s him he’s a guru uh his experience in investing in disruptive startups coupled with strong financial industry expert from trade from Trading to debt finance and blah blah blah blah entrepreneurial building Technologies just goes on oh he’s also the liaison officer on matters of anti-money laundering count of countering financial terrorism Singapore is a very very sophisticated Financial market and uh you know if there’s going to be any fraud Aaron would be right on top of it because he’s got an MBA from Stanford University and uh electrical engineering degree good on him uh Steve sorry Aaron is joined by Bob Lau head of private equity never met Bob I’m sure he’s a great guy he’s been an investment partner since 2010 has over 15 years in financial engineering and engineer and energy Industries uh head of private Equity since 11 years there we go so another gun all these guns um look at those qualifications master of science in financial engineering oh my God so uh he’d be able to pull apart any balance sheet and put it back together again as would uh Wu we Ming foo foo me Wing whatever head of Investments TMT uh a sector a veteran 20 years of track record served in leadership positions again in Fortune 500 companies like HP Sun micro VMware Qatar telecoms it just goes on and on uh built a sales and marketing buildups channel and OEM ecosystems LED corporate strategy and m a like these are the guns that you want involved and uh why is this important again we’re going to see a representation made on behalf of leonie Hill Capital that we are committed and not only that but Nano is in great health it’s uh it’s in um you’ll see the exact words you’ll say the exact words in Aaron’s own in Aaron’s own words that it’s highly disruptive it’s very disruptive I think you can use those words very disruptive and uh we’ll also this bank statement Ledger is going to show us precisely how disruptive precisely the level of sales uh we Ming is involved in pro bono championing of innovation security alliances Cloud ecosystems cyber security blah blah blah blah blah now we don’t know what his uh qualifications are but um wow you know has he got any degrees don’t know but um would would Bob layout and Aaron caird with air mbas and all the rest would they be involved uh could they um conduct due diligence on Foo me Wing what we mean we flew we Ming I’m sure they can in this video we are going to question the wisdom of some of Aaron kant’s representations and um the truthfulness of and where you can be the judge we’ll just look at them and we’ll just look at them factually and we’ll ask the question did Aaron make these statements uh I’m going to be saying that Aaron did make these statements uh the ramifications you can um come to your own conclusions uh there are some things that I think are inconsistent between what Aaron says and writes there’s no nothing like about putting something in writing to a very serious person saying something is true when apparently is not true and I’ll let you the reader determine for yourself whether you believe there is any consistent any inconsistencies uh I will also ask you the reader or viewer um the person watching this uh video to consider what you will hear in this podcast about Henry legear and what Henry ligue has to say about his dealings with Aaron Kant and whether they line up with what Aaron Camp put in writing to to my client My Vista and we’ll also consider the role of Steve Clemens and a publication called the hill various very prestigious publication um and we’ll consider you know whether Steve Clemens has been

because that’s the word whether Steve Clemens has been ethical in discharging his duties and see if he can find any disclaimers on any of Steve clemons’s work and we’ll also have a look at some correspondence I sent to Steve’s bosses the editors and the board of the parent company that owns the hill uh we will look at correspondence with Steve with Henry lagier and again I say he comes through with shining pinch icon in a good light very good light now again apologies this is not going to make sense this is not in context this episode has been cut off into many many pieces and I’m sorry about that that’s a result of the YouTube senses uh we’re publishing what we can we’ll do a proper episode in season two episode three so this is what isn’t censored continued we’re just going to skip through a few bits of this okay I’m going to see the intro and then I’m going to take you to about nine minutes in what’s the body language on this guy Steve Clemens tell me if this is tell me what you think tell me what you think write some notes in the in the column in the comments below and now joining to see you on stage for a conversation about data-driven cures is the CEO and founder of nanovision Steve papermaster please give him a warm welcome

so I met this guy a few weeks ago and I um actually has seen well that’s absolute bull crap because this guy Steve Clemens met Steve papermaster on a trip to China in about 2007. all right keep going see him in action uh end out of Switzerland uh in January but had known his reputation of being a science advisor to President Bush and this was still a time when science advisors were looked at as you know how you know good people right so uh you know I’ve been worried myself many people see my writing I’m worried about you know the state of science we’re doing the science respect for Science and these systems we’re in and it’s the paper Master just to put on record only the CEO of the animation founder a real entrepreneur well it’s Clemens guys putting on quite a show he’s really pumping up uh the audience here uh it’s as if he’s being paid or something I mean shall we let him keep going reference but uh was also one of the people who’s really one of the fathers of the uh Human Genome Project so Stephen have you take us down the path you said this morning to foreign and then a lot of our assumptions that built in and how we’re looking at the future of healthcare are pretty rotten to the core am I misstating that uh no Steve thanks a lot what did Clemens just say that am I misstating that did I say the right words um did I say what you asked me to say uh let’s get let’s let’s let Clemens get going well actually we might skip ahead to the more gushy bits wait until you get to this bit I mean it just gushes and gushes and gushes it’s so only so much gushing we can have but let’s let’s go to the ultra gushy stuff you’re curing and to cure it I think we have to call out uh the truth in a room which is that it helps error is broken um even the way that we develop and deliver cures is broken it’s nobody’s fault it’s just broken relative to where we should expect it to be at this stage in 2019.

even close to it again not certainly anyone’s fault it doesn’t work so people picture so if I’m getting it right sort of nanovision and what you’re trying to create is a platform that’s a bit Facebook a bit 23 and me and a bit Uber is that right that’s right um okay so um on the right track so what is that I mean I think one of the things we’ve been struggling with today and I find um so important this is figuring out how you Empower people and patients where they are facet of life or we will have failed in the opportunity and that is tragic so and we need to translate into changing everything about clinical trials drug development drug Discovery um pricing uh we don’t have to talk about whether we have a uh an arbitration to determine or transfer pricing of Freedom that access you just get on and use it um most aspects of cures and care we should have available to us whether it’s free or it’s fairly low cost and very rapid development and delivery so instead of 10 to 20 years to develop a job with a 90 to 99 failure rate that will serve less than fewer than a million people and cost over half million dollars we should have things basis with a 90 plus percent success rate that can be self-adopted or adopted with medical care as appropriate it costs fairly little individually and collectively the economics are fabulous Mark Cuban maybe even more Cuban from Shark Tank and a room can um who’s an investor who’s an investor and Alibaba and SpaceX and Tesla and you know a lot of the players out there have both I know they put about 200 million dollars of investment into your company what are they salivating over I know they put 200 about 200 million dollars into your company tell me Steve what are they celebrating over wow this is really incredible high pressure test uh questioning isn’t it it’s it’s as if this is a paid performance now I’m just going to tell you we’re just going to have a look in a moment we’re just going to have a look down at the we’re going to go down and we’ll have a look at the YouTube release date and watch this date watch this date okay well two things one is we have Partners investors such as Mark and roon as you mentioned who are number one socially aware unconscious um who doesn’t want to change the world you talk about impacting investing today what whatever impact do you have than dramatically changing the ability to cure and care right so Savvy investors and Savvy partners are very devoted to that for every good reason number two good old economics maybe one market bigger faster going with more Global implications than the market for health there is none and so from a standpoint of creating opportunity to an ecosystem to have a winning platform or winning Platforms in the marketplace there’s none better and just finally before we go to the audience um we’ve had Hospital Folks up here pharmaceutical firms uh Patient Advocates just you know just every insurance plan what do you need from them for what you’re doing what do you need as far as the ecosystem to shift and Make Way for what you’re going to do or you’re going to compete with all of them well on one hand we need nothing um other than probably awareness I mean that’s not a negative it’s just that um uh that the path to writing strong adoption of the winning platform to Marketplace is paved through the path of least resistance and least levels of permission so this is not permission based we’re going to do this we certainly encourage others to do this because this is something that has to be done successfully in a Marketplace in the world and I think this is one of those moments where people are generally where they say it or not they’re Fed Up This distross of Science and distrust of medicine um and distrust of medical and health isn’t because I think the collective wave use these all bad people it’s just there’s clearly that sense of this is just not working it’s not because it isn’t and we’re never again look at themselves and say in every other fast in my life Everything Has Changed except my health or our health or curing so that’s why we have this societal issue that is global not just in the U.S now what do we need we just need people to think this is a great idea um and be part of it or cooperate in whatever way makes sense and minimum take this vision of the future and Pull It Forward expect of yourself and anybody that you’re with and any institution you’re part of and say if this doesn’t happen in 10 years we have totally made a mistake don’t let it be acceptable in 10 years everything should have changed in 40 years um everything should have gone from the inconceivable to the indispensable in this phase of your life and let me make a deal did you note that date 2nd of July 2019 note that date don’t forget that date now we’re going to go over and have a look at uh this timeline okay well we’ve just had a look at um a very detailed look at those transactions and we’ve looked at an interview um with uh Clemens we’re just going to go and have a look at one of the very early uh conversations again where Aaron Kant is holding out that he’s an expert in these early stage Investments

technology and next to him is Aaron County the chief executive officer with the only Hill Capital um and I think it’s actually invested in PayPal back in the day and SpaceX so clearly people who know what they’re doing in terms of these early stage Investments okay so clearly people who know what they’re doing with these early stage Investments now you heard it um now you heard it uh and you saw that interview where Stephen Clemson or Steve Clemson maybe he knows maybe it was a Pinocchio moment and uh he had to bring back because you know some body part was growing as he was talking but Clemson said Mark Cuban many of you know Matt Cuban from Shark Tank and a a real [ __ ] or Aaron [ __ ] however you say it uh who is an investor in SpaceX and uh Tesla Alibaba SpaceX and Tesla and lots of other players out there I know they’ve put now I know this is what he said Clemson said I know that they have put about 200 million of investment into your company I know that’s what that’s what Clemson said how does he know Clements Clements Clements pardon me how does Clements know how does he know that these people have put 200 million dollars in now this again we point out this video is recorded on the 2nd of July 2019. Clement says I know they’ve put about 200 million dollars of investment into your company Steve isn’t that right isn’t that right no it’s not right it’s a fat lie it is a fat lie okay well we’ve had a good look at these transactions let’s come back to the timeline now and we’ll have a look at uh one more person well worth a few more people really but we’re going to go to our next person which is Henry Ligia and some of the things that this gentleman said and uh Henry lagia is the um CEO and founder of company called Reliant immune Diagnostics who Steve papermaster and aronen card um I say that very confidently I run can’t or if not everyone can’t someone at uh Leoni or Capital did actually try to purchase this company uh Reliant immune Diagnostics it’s a United States company let’s have a look at this email with um anyway okay so by way of some background here uh I’m going to show you a series of documents relating to Henry lagia now I just want to be crystal clear I think Henry is uh blameless okay he’s he looks really really good in uh this entire mess um I uh Nano did circulate uh documents uh talking about a 300 million post money valuation and a 55 million dollar Institutional Investor um offering now this is slightly different to the cap sheet that I showed you earlier whether I’m talking about a 500 million dollar um post money uh valuation but Leone Capital are still shown in here so um it’s uh the role of leonie Hill capital is very important and you’ll see in an email I’m going to show you from uh their CEO Aaron can’t or uh that um if that’s his pronunciation uh that Leone Hill Capital claim that the reason uh a key reason they pulled out was that Henry’s company didn’t sign on now keep in mind um Aaron also wrote and denied that he told people to invest yet he told our investors he wasn’t he was committed we’re going to see a bit of Double Dutch here from um from Mr Kant so again

you be the judge you be the judge uh Leone heals a 33 billion investment fund so they claim uh and hold and a holding company an early investor now um as I said in the very opening of this um in the very opening of this YouTube video uh these guys someone in Singapore someone in Singapore now that may well be leonie Hill Capital it may well be Aaron Kant or his fellow directors Bobby Lau uh through we Ming uh someone in Singapore has sought to see um uh stop the YouTube video and they’ve managed just in Singapore to stop part one of season two episode two uh they don’t want you to know well if you’re in Singapore and I guess maybe there’s many of their investors are in Singapore uh well you’re supposed to be kept in the dark about these things uh but so the use of the funds was going to be for the integration of uh Reliant MMA a merger between Reliant and uh Nano and this thing called MD box Henry well to come is Henry’s letter uh and we’ll also have a look at a excuse from Aaron about why Leone Hill didn’t proceed uh this document we’ll put it up on the website um and prior funding 50 million uh institutional family and friends offering now I’m actually told um that by about July 2020 they actually raised 64 million dollars but I only showed you a ledger of um of 20 uh about 20 22 21 22 million uh and that came and went uh during the year 2019. now that’s that’s a ledger and if you have other documents um and you want to tip us off go to our website dcpartners.solution podcast and down the bottom you should say tip or form send it in uh love to read it so this is a this is an interesting document um and it says what it says uh the next one we’re going to have a look at is I did mention about all the money that um Steve was taking and paying to his related party company so he provided this management guidance statement um and they claim they claim and I said it was a good thing that they were getting legal advice well they claim that uh they had legal advice and guidance was obtained from Ernst young Parthenon uh ey’s life sciences team Capital markets team Jones day now we did see some evidence that they had paid 50 something thousand from memory to Jones Day and and other firms uh keeping in mind paper Master claims to be a public policy expert um worked in the white house for eight years personal personal advisor to George W bush well I spent a lot of money on guidance and advisors and you can total this up again in on our website dcpartners.solution podcast you can find season two episode two part two this this video and uh the page relating to it and a transcript of this video and all the attachments that we’ve talked about they’re all on that particular page next document we’re going to go to a email that was sent in early in March of 2020 and it was sent to a real or a rune however you pronounce it and so we’re going to read this from the bottom up March the 27th and then we’ll see what Aruna has said and what he says now we’ll just refresh ourselves and dear run my company invested two million dollars in Nano introduced to us by Steve papermaster you sent me an email on the 4th of August indicating you were committed so the principle of this victim company has written and said well they understand what they understood from what Ariel wrote was that and the Real’s words were that we’re committed we are committed and to the effect that it was in good shape and very disruptive very disruptive uh with six thousand dollars of sales to uh Amazon and that’s about it uh a real road but uh this company was very disruptive um and a real set that he was going to invest eight million dollars according to that cap sheet now the cap sheet all of that is on our website dcpartners.solutions podcast and go to season two episode two part two um and since that time so I’m just going back to reading this email since that time uh you said that you were committed to Nano and on the strength of your reputation as a three billion dollar fund um and someone with an MBA it’s from Stanford and all the rest and your signed term sheet where in the same terms in the signed term sheet a real said that he would consent to being a director of the company and being on the board and investing 8 million US dollars plus bring 10 cent and buy due and Alibaba now we’re going to see this name Alibaba as well and then there was another company they claimed that they’d bring along called tpg ah on the strength on the strength of your reputation and sign termship we made the investment that’s the victim company since that time we were assured everything was proceeding as planned and was in order however we were unable to get requested information and uh the um convertible notes that were um subscribed to for two million dollars uh the day after a real or a rune uh said that they were committed at the very very next morning uh the two million dollars was sent off um so that’s a very direct Reliance um I’ve lost my train of thought uh oh yes those those convertible notes were due and payable in September and a real as I told you agreed he was advising the board I showed you Australian corporations law and that that would constitute if if the board is um the board tends to accept your recommendations on an ongoing basis whether you are an investor this is under Australian law now this company is incorporated under Delaware law in the United States I can’t tell you what Delaware law says but in Australia if a company was taking your advice and and continued to you know take your advice and a real put in writing to the author of this email that yes that’s true he had pressed paper master and he had pressed the company you know to close off this family and friends round um and but he was delighted to take my investors two million dollars well if you are someone in that uh that was giving that advice and the board’s taking your advice you’re treated as being an a director and uh you would be liable if you raised two million dollars that you knew you couldn’t pay back in September or you didn’t have a real you didn’t have I mean um if you didn’t have a proper basis for accepting that then you could be personally responsible as a director whether you’re on the register of directors whether you’re listed with the company regulator you could be liable as a director yourself for trading that company at a time when it could not meet its obligations as and when they filled you and so on that very very date are real said that the company was in good shape we showed you the Ledger that states that that company had negative eighteen thousand dollars in the bank it couldn’t pay its payroll unless paper Master put in a quarter of a million dollars which he had done just one or two days prior so a real ought to have been or a rune ought to have been very very careful very careful in making that statement that leony Hill Capital was committed and he wrote as we said he wrote that you yeah we are committed but they were his words we are committed and the company is in good shape and very disruptive those were his words so um the investor then goes on I’ll continue reading this um I would appreciate if you could give me a confidential understanding as to what you know about the company and your status with it as an investor and Lead investor I look forward to your reply regards the investor so this is what was the response the the email left at uh in the morning of the 27th and a reply came back in the afternoon about 12 hours later uh Arun cat to uh investor uh because if not able yeah again I apologize it sounds stunted but I don’t think English is Iran’s first language because of not able to get financial details on a murder deal so this is why he’s saying he’s sitting the same that this merger deal with Henry Gear’s company MD box or Reliant because we could not get financial details on a merger deal with MD box our team could not move forward utterly only healed capitals team couldn’t move forward so it’s saying that this merger deal was critical that’s what it’s saying it is saying now I could take you back to the and I’ll include below um no I’ll include include above my shoulder here what Aaron wrote to the same investor on I think the 4th of August he doesn’t say we’re committed if a merger deal with MD box and Reliance goes ahead he doesn’t say that he said he writes we are committed so six months later in the 27th of March he says because of not able to get financial details now they sound like weasel words to me but because of not being able to get financial details on a murder deal with MD box our team could not move forward now that doesn’t mean we’re not committed

he’s saying because there was no merger been no moving forward now I’ll come back to this email in just a moment I’ll show you a text message from Ariel to me personally and this is on the 6th of October at 4 50 PM down with coven all right okay rest up when you’re better have a look at this short personal video I did for you which I send cut it off cut it off this is how a Real’s mind works so if you get anything from him saying you’re committed and I talked about weasel words he wrote back committed does not mean invested

so we are committed he right we’re committed well he’s saying he’s now saying on the 6th of October oh hang on committed doesn’t does not mean we invest it well pardon me are real but what the [ __ ] does committed me

if he was with us should have put condition we he will only invest when we invest well actually yeah that’s what he’s his advice now is that my whale should have only invested if we invested yet my whale only proceeded only proceeded when a real did say we are committed we are committed now I’m going to get the English dictionary out and we’re going to see what the word committed means but apparently in in Ariel’s mind committed does not mean we invested [Music]

and then he says look you were trying to shake meat you’re trying to shake me down when real bad actors are different please go and get uh paper master and the others don’t try and shake me down so let’s I’m just going to pause and I’ll bring up the English dictionary and we’ll discuss what committed means

well here’s the definition we get by Googling the word committed committed pledged or bound to a certain course or policy dedicated a committed environmental app

commit past tense committed so I commit is current tense committed is past tense we are committed past tense hello

pledge or bind to a certain course or policy

this is fine this so coming back to our email

because I’m not able to get the merger deal we could not move forward then virus came now this is a virus company this is nanoq that cures the cure for curing they claim to have a um we showed in season two episode one the video of Steve papermaster saying we’ve got a treatment for covet then but a real writes uh then virus came along and my team is now scattered in different directions and not able to proceed with the deal well uh covert ought to have been the opportunity of Lifetime for a company like Nano cures and instead um it’s now the excuse um a Healthcare Company can’t make money in a pandemic um we don’t we do not know current status of company and last update we had was in January I will keep you uh I’ll keep your details with me and if I get any details we’ll forward them to you oh thanks what a Cooperative person looking forward to meeting you again um I’ve heard a lot about you uh the while this is uh from investment circles regards are real

now we’ll have a look at a couple of other documents this is a document that was circulated again well according to a real they cease to be involved according to a real the last details they had was in January which I presume means January 2020. a real um so then I was giving out information I don’t know the date of this I I don’t have it I don’t have it but Steve says that he’s a world world renowned entrepreneur and includes photos with Henry lagia Henry is President and chief medical officer at Nano Henry is President and chief medical officer at Nano founder and CEO of Reliant immune Diagnostics so I read this and I thought well wow I’ll have to give the I’ll have to contact the uh chief medical officer at Nano um but there’s no answer on the Nano phone number so I just I just email uh our mate Mr lagia now we’ll have a look at a couple of other documents

I’ll throw this in just for good measure um Steve uh did get sued um Steve and his company app economy got sued for 6.25 6.5 million dollars and a judge Steve’s company tried uh a Texas Texas federal judge rejected an attempt to throw out Securities fraud case against Steve’s company and so Steve’s company economy was sued by mizito based on what turned out to be fraudulent misrepresentations by the company founder papermaster and Majewski and I apologize to Majewski if I’ve mispronounced that Brian G majorski these were fraudulent misrepresentations according to judge Lee Jacob again I apologize if I mispronounce that mozito claimed it relied on economy’s claims that it that it received a one billion dollar acquisition offer from Online Marketplace oh look at that Aaron kantz uh investor Alibaba Alibaba now this is 2017. this is that the law that the case was thrown out and if you want to know more about this just Google mozito this company here and uh and paper master and you’ll find a link on DC partners.solutions to the Judgment um and it’s not very complimentary but we’ll have a look at this name here Steve snarkulis I don’t know if I’ve pronounced that correct Steve of Kane Ops not snorkel this is my apologies uh he acts not cool at them it’s not new

Scott newless acts for papermaster and you’ll see that this name scandulis comes up one more time just very recently let’s have a look now at something a real Road and then we’ll go to the Henry legere document this is something that a real rate to me on the 28th of September thank you for your email I am not offended and I want to set the record straight now this is a person that on the 28th of September wanted to set the record straight but now is going to YouTube and asking to censor uh asking to censor uh videos because he doesn’t like the straightening of the record although at one time he didn’t want to set the record straight um the fact is U.S investors like Matt W and others were told by us we are not investing and the whole situation is bad they did not have product or proper accounting to show where funds went

you cannot throw us under the bus just because Steve mentioned something without our permission now this is a person Steve mentioned something without our permission yet a real writes to my whale and says we are committed these were his own words we are committed so that is not talking to Steve or being mentioned without their permission not how I see it again I may have a different view of the English language I showed you what the word committed means um a real as I said he he may have a different interpretation of English language but he does seem to say that he does suggest that he can read a bit of English because he says he believed what Ernst young Singapore said so precisely a Real’s con comprehension of the English language I can’t really tell you um but he he did right I’m glad to help your client my well with regard to Steve because that is the right thing to do well yep and that is why we contacted you and not just ignored the mess that Steve had created and then he says he was surprised that he left that I’d left out a few people so okay now this is kind of interesting I’ll I’ll go down uh I’ll skip this paragraph here and I’ll just go down a little bit further we did give a bridge loan and we will come back to this paragraph above in a moment we did give a bridge line but stopped when we could not get accounting data now I have included down below the Excel spreadsheet uh Ledger and I couldn’t find anywhere I could not find anywhere any evidence of a bridge line we couldn’t find any evidence now I don’t know when this uh bridge line was apparently to occur but um I’m sending this uh today is actually the 26th of December I am actually sending this to a real and giving him the opportunity he said at the start of this email he wants to set the record straight we want to set the record straight okay for real if you want to set the record straight and and you have evidence of this bridge loan and you can show that this Ledger that I’ve gone through at Great length lengths is false then give us what documents you’ve got and we’ll publish them and you can set the record straight um and he says that he replies we want open and honest dialogue well come on tell us about Steve Clemens tell us about the interviews uh there was what’s called a fireside chat that Steve Clemens in a video that’s nowhere to be seen it was a fireside chat between Clemens paper master and a real [ __ ] and we’d love to see that we would love to see that a real right we would like uh we we like people like you we like people like me except now 26th of December he wants to silence those and censor those but on the 28th of September he did like people like me who help companies like us to get out frauds and unfortunately we did not know you before well you know me now are real and there’s his phone number if you if you wish to make contact uh with a real uh he’s there so let’s go up to this paragraph

we want people like you to bring both sides together and facts and make sure this does not happen again with people like Steve that’s right so people like Steve Well I wonder if a real is someone that’s like Steve in some ways I don’t know I would like to know and I’d like to give Steve sorry I’d like to give Leone Hill Capital the chance to have their say we do make mistakes yes we are human but we do not cheat okay all right so they do say that they’re committed they say that they’re right they write that they we are committed and the company is in good shape

now he’s he’s the real gist your investor if he was in contact with us if he was now I’ve shown you the email of the 4th of August of 2019. a real is writing if your investor he your investor if he was in contact he should have invested only if cap table showed we invested so the cap title did show that he invested and not only that Mr can’t a real [ __ ] wrote and said we are committed past tense we are committed

not any words there we ah committed three words three words well a real advice here your investor If he if he was in contact with us which he was should only have invested which he did the very next day if cap table showed we invested and it did it did show that and not only that but a real wrote and said we are committed

if we were in touch with him he should have asked us so going following a real recommendation here that’s exactly what uh my wild did he asked us he was in contact and he did ask and he received an acknowledgment in writing that was clearly clearly false we were we are committed a real road we are committed

so that’s what a real writes and says um was the proper process and that’s exactly what my wild did we were lead investors for round one and as per proper protocol other investors should have invested only with us

we are committed next day money outlaid so I think we’re correct here so now let’s go to Henry’s you know I I mentioned but Henry is shown here as the chief medical officer at Nano founder uh here’s the Advisory Board cast of thousands the go to market pricing the the model the financial updates operating model pre Series 2 funding

leonie Hill strongly supported throughout available as backstock direct Affiliates close circle of investors that was to provide two quarters two quarters two three years of liquidity fourth quarter

fourth quarter of 2019 uh so early 2020 Target Reliance Reliant merger

and close to the series two leonie Hill pardon me 30 million dollar plus funding now again nowhere absolutely nowhere Department absolutely nowhere did a real card and Leoni Hill Capital say that their involvement was conditional on a merger with

relied and MD box nowhere nowhere at the time of August at the time of um him personally a real card personally procuring my whales of 2 million US dollar investment nowhere nowhere does it within the words we are committed does he say that our commitment is an uncommitment or it’s conditional upon Reliant emerging yet 27th of March a real rewrites history and says because of not being able to get financial details on a merger deal our team could not move forward he just simply wrote We are committed

so let’s now look at correspondence with Henry Ligia of Reliant immune Diagnostics and we’ll go right to the bottom and we’ll work we’ll work from the bottom up so I write to them and say you look one of our investors has lost a bunch of money here are two documents that um two documents and then I’ll investor summary and which I think I’ve shown you here that’s it 1.29 1.29 this is the document and then there’s the investor summary 1.29 so I think that might mean generally 2020 that is 29th of January 2020. so I set the 29th of January 2020.

that’s my best guess at what this document when it’s dated so I send both of these and I say to Dr Ventura he doesn’t respond Henry Olivia the third managing director of Reliant and again I stress good guy truthful guy he’s given us the response I’m I’m blogging about what I believe is a shonky firm run by Steve Pass papermaster whose track record is dubious questions does Nano own any of Reliant I didn’t know ever have an agreement to buy Reliant did Nano have an agreement to merge with Reliant attached to some documents which I did send them did Reliant ever license its IP to Nano um did it say you could refer to uh its Reliance IPS being Nano MD in other words for it to be did you license your IP how many active subscribers does Reliant have do you have any comments about the documents are they accurate did the transactions proceed was the transaction never going to proceed so let’s let’s get a reply I from Henry I am the founder and CEO I’m glad that someone is looking into Steve P paper master and some of his environment I had I and some of it my advisors during our due diligence she had suspicions about his claims to not technology that seemed Beyond current science Money in the Bank now again none of this was a condition of a real saying we are committed he was he was committed whether there was this merger or not and so uh the merger partner um Henry and Reliant said they were suspicious about the money in the bank additional additionally several of his disgruntled investors approached us during the diligence process and encouraged us not to proceed with any form of partnership JV or path to merger not even to proceed with a path to merger I’ve not seen the documents you referred to uh please send so I can review but I can say so I I actually sent those to Dr Joseph Jose Ventura one of my gayest comments uh one of his colleagues we did meet with a group of investors who came to Austin and Steve presented us that he had secured 100 million dollars in funding and wanted us to present to his investors so that he could convince them that then I should make a formal offer to Reliant to merge or JV at no time were any agreements finalized so it’s a bit Rich for a reel to say as a real says a real says that we didn’t proceed with the merger there was never any merger to proceed with according to Henry here had no time at no time at no time were any agreements formalized we discontinued talks during our due diligence to be to being far apart on relative valuations and because he which I presume that means papermaster failed to adequately answer our questions regarding his financials or show that he was he was already funded as he purported

at no time was there a merger so this is utter fraud utter fraud to say that there’s a merger under the use of the funds would be uh but Leoni Hill were the co-leads and the integration of MD box merger and that Henry would be the was post the closing that the Henry would be the chief medical officer and president complete fraud

again we are committed doesn’t mean this is contingent on this merger so let’s go back and continue this correspondence so I I report these questions to Henry who’s being very Cooperative at this point this is the 10th of August Dear Henry attaches some some material paper Master used to raise at least 50 million US dollars I understand it was 64. so in summary you’re saying there was never any written agreement in place between Reliant and Nano to merge so um

and then I ask a series of questions did Nano have an agreement with HEB that’s a it’s a large um see who HEB is we’ll go back up here and we’ll have a look at Nano’s presentation they claim that they had a strategic partnership with Walmart and HEB and others

so they claim that they had a distribution business with live in 79 locations expanding to 275 in the first quarter of 2020. so my email was was did they have an agreement I don’t know if you did or did not we Reliant did at that time and it’s likely he was using our contacts our contracts to raise against so that sounds like a fraud to me there was never any agreements between Nano and HEB maybe that’s what did Nano have an app with 23 000 survived subscribers survivors nice did did they I don’t know I don’t know if he did or did not he had his own app and we were not impressed with it it was subscription-based our platform was not so that may be true

I think it might not have been true because their sales were 6 000 a month so they might have had 23 000 but perhaps they were unpaid because it wasn’t included in the 6000 of sales up to but included nowhere on the Excel spreadsheet now if you can find it if you can find it on the Excel spreadsheet for 2019 keeping in mind that this merger was supposed to happen in the first quarter of 2020 then if you can find it please send me a message using our typical form below on dcpartners.solution podcast send me the message I’d love to know

the gear goes on we have many users but our payment structure is largely payment per visit or encounter we have one or two Partnerships that are subscription based I don’t believe we had any at that time are the pro forma financials similar to those presented by Reliance Sorry by Nano to Reliant uh Henry says I’ve never seen that deck or those projections our performer is very different okay that model seems to be his subscription model

I’m just going to pause and I’ll take you through to that model now

all right now this is further in this document about Nano MD and I’ll just take you to the previous page Nano MD so we’re talking about Pages 17 18 and all and it talks about the Nano MD and app and here’s the content and Community now again papermaster says in this document they have 23 active 23 000 active subscribe active subscribe doesn’t say paid does not say paid fair enough so but according to this 23 000 active subscribers and they’ve got a community apparently and a suite of uh patents and again here’s Henry legear so this is the slide that we started at and I believe that is a photo of Henry the board of advisors and Nano the financial update and Leoni Hill Capital allegedly is still over here so back to these replies 0.3 no legere’s never seen those Pro former financials

these ProForm financials so these are a series of performer financials and ligia’s never seen those okay but legia also hasn’t conducted due diligence point four uh other financials actually Reliance financials or similar same as above so I think he’s he’s saying no they won’t be impressed I think that means the financials are not well ours are very different our performance is very different so I think that’s what he means same as above did Leoni Hill 0.5 did Leoni Hill ever meet with Reliance yes as above that is primarily the reason we walked away from the deal Steve told us leonie Hill previously funded him which seemed to be true however he showed us a term sheet for them to fund a much larger Round leony Hill didn’t seem interested in actually funding that amount and Steve could not produce any evidence of further funding to satisfy our due diligence requests now I’m going to talk a little bit more below about a reel and Leone Hill capital is there such a product as MD a nanomd I don’t know they haven’t happened but it seemed focused on patient consumer engagement MD box would become the backbone if we did the deal foreign do the advisors page for actually advise Nano yes so let’s have a look at page 24. these advisors does Mark Cuban does Bob get Medcalf do these people actually advise well according to Henry yes uh I met a few I met many yeah I met many and a few also advised me not to do the deal oh poor Stevie did

did you authorize your image to be used no does Nana have any patents he claimed they did around three products in the day I didn’t I did see I think he wanted to acquire our patent portfolio that was something he spoke about frequently but I never had any insight as to why others then we have an impressive differentiated and so it goes on now I think we should I think we should read this last one

this last correspondence and we’ll end with some bits and pieces about Leoni Hill capital uh did he actually raise 50 million this is Henry to me did he actually raise if so I’m shocked because we would have considered actually accepting the merger offer he would have sold I’ve never I was never shown these materials so I definitely did not sign off on him using those materials to raise money now this is these materials I understand them were used after after my Wells put money in during the time leonie Hill Capital said that they were still committed and before a rail right back and said oh I didn’t we didn’t proceed because there was no merger he told us previously on the order of several years ago he raised 50 million uh so several years from now ago and that Leone Hill was put in fresh Capital something like 70 to 90 million after a series of meetings we discussed an initial and initial we discussed an initial framework for merging our firms not not actually a merger just a framework and several other things agreeing agreeing on relative valuations doing Financial due diligence to prove the claims he was making on the status of his funding to support our expansion and getting our shareholder approval the framework did involve me as president and chief medical officer so at that time that papermaster published this there was an agreement to a framework framework only yet paper Masters publishing these documents saying Leoni Hill capital is in their lead investors blah blah blah and we’re going to use the funds for merger he’s pretty clear you’re saying there was never any that there was never any formal agreement never any formal agreement but the framework did involve I guess we read that state produced a term sheet from leonie Hill possibly the one I’ve got but he never showed us his bank account well you the viewer are reading and able to see the bank Ledges that I got that show how I use the money now Henry writes I I met someone I can’t remember his name so maybe it was a real [ __ ] I don’t know uh who is supposed to lead the principal at lagani Hill so Henry met the principal at leonie Hill there’s only three of them so it’s either Bobby Lauer Fu we Ming or it’s a real [ __ ] and he met the principal and he said the principal said he’d rather invest directly in our company and put money into Steve’s so that’s very interesting which was a major red flag now it would have been a red flag if a real [ __ ] had written back and said well we’re uncommitted instead oh wow received an email in writing from a real saying we were committed so I’ll go back to my Wales text message here my my miles email my company invested two million uh you sent us an email on the fourth of August indicating you were committed that’s what it says a real use of the words we are committed yet this is a red flag would rather not be uh we’d rather not invest thanks very much in paper Masters company I think we’re getting to the the real point a real if well but leonie Hill capital

can’t be trusted they can’t be trusted at that point we insisted so at that point where leonie Hill says well I think we’d rather invest in Reliant than papermaster at that point Reliant insisted that Steve show us his financials and bank balance which he refused for unclear reasons it was enough for us to pull out of negotiations

so I think we’re getting to the bottom of this about why what just how committed leonie Hill Capital was

I’m just going to take you to one more document one more document about Leoni Hill capital leonie Hill Captain there this is a a website you can just go to unicorn Google unicort and go in there and Google leonie Hill capital and my company name now I as at today’s 26th of December 20. 22 as of today I’ve not been served a writ in any Court in the U.S District Court have not I I say so but but I did search this and I did I did like hate this record someone told me someone told me and I the word that I had a great deal of trouble pronouncing a little while ago we’re going to see in a moment which was Steve’s lawyer Steve’s lawyer if you remember let’s go back and we’ll have a look at this Steve’s lawyer was a guy called Steve scanulus of Kane and scanulis PP P LLC representing app climbing now appconomy was attempting to throw out a Securities fraud case against it but judge Lee yake yikel um uh found that based on what turned out to be fraudulent misrepresentations by papermaster and Brian G Majewski um uh he’s he refused an attempt he rejected an attempt to throw out the fraud case so in other words he said well yeah there was a misleading thing and later on um there’s further judgments and if you want to know more about that and I mentioned that the fraud was the the fraud uh mosito claimed it relied on the paper Masters company that it had received so it’s a bit like he had received we are committed I can see some parallels here I will say see the word Alibaba it claims it had received a one billion acquisition from an online Marketplace called Alibaba now the capture it which you can see on our website jcpartners.solutions slash podcast season two episode two part two you’ll see that um you’ll see that captioning Alibaba is named along with 10 cent Baidu and Leoni Hill Capital as lead investors and and investors so I’m seeing little red flags here I’m seeing them well Leoni Hill Capital apparently apparently has filed something and this is a case summary that anyone anywhere in the world can go onto unicort just Google unicorn and type in leonie Hill this DC Partners Solutions proprietary Limited at all and I’ll show you the names of all the parties and apparently these are the case particulars uh apparently on the 6th of December 2022 there’s a case status that’s pinned in the U.S and district courts in the western districts the Texas Western District Court and the party names apparently the party names are Leoni Hill Capital private limited that’s a Singapore company and the defendants are my company and me and me and let’s have a look at who the uh the attorney is and the plaintiff’s attorney is none other than State paper Masters uh attorney and economies attorney it’s this Stephen Bradley scandulis of Kane and scandalous I’m sorry that’s a terribly difficult name to pronounce but Kane and Scar noodles is apparently according to this uh search representing Aaron Kant and his company leonie Hill capital I have not been served and I can’t tell you but there’s apparently there’s a main document that if I cared to download it I could download it if anyone wants to download it and send it to me I can’t be bothered um this is um utter BS and I would rely on the truth but uh it’s just curious that according to this search is acting the same way that has actin for papermaster he’s apparently acting now for the only Hill Capital private Limited

yet if you go back to correspondence that paper master that Arun can’t sends people he says uh thank you I’m not offended we want to set the record straight we wish we like people like you who help companies like us get out frauds and and unfortunately we did not know you before well and uh we want honest and open dialogue and we’ll do the same and help so it’s It’s Curious that um a real can’t and uh the only Hill Capital are now no longer interested in open and honest dialogue but apparently they want to go suing people in the district court of West Texas and uh well we’ll see I haven’t been served I may never be served if I am served well I may well just publish all these allegations but I I do publish and again I’ll put I’ll put up here the uh YouTube as a sort of sensor at the request of someone in Singapore and leonie Hill capital is a Singaporean company they’ve sought to censor my YouTube videos so you be the judge whether someone in Singapore well what an epic what an epic epic story what an epic story uh We’ve touched on a lot I told you it was going to be dense I told you it was going to be Technical and forensic and uh I didn’t lie uh what we can conclude this is a wrap up to this episode what we can conclude is that uh Aruna are real uh new paper master from uh at least January 2019 onwards uh he may it would be very very interesting uh the mosito manner it talks about a fake or a budget Alibaba letter of offer a letter of comfort the uh alleging that um paper Masters papermaster had received a one billion offer from Alibaba and that name comes up a game in the situation uh the investor is told that Alibaba 10 sent Baidu and tpg are investing along with Leoni Hill Capital uh some 8 million to Leoni Hill Capital four million to each of 10 cent Baidu uh tpg and Alibaba it’s uh we know that um Aaron cadd knew paper master from at least January 2019. uh

Aaron can ought to have known I apologize there’s a typing mistake here Aaron can’t ought to have known that Nano Global was not in good shape it was arguably insolvent he was throughout the period well as long as it kept raising money as long as it could kept raising money he could keep spending it but uh its survival was dependent on raising money uh he told investors in writing no matter what he now says no matter what he now says he told investors in writing in August of 2019 that leonie Hill Capital was committed we are committed we are committed uh so that um to investing that is in Nano um and circulated and stood by as this cap shape was circulated saying that they would invest eight million dollars 10 cent Baidu tpg and Alibaba would each invest four million bucks the truth is Leoni Hill Capital was uncommitted yet they told investors that to come and join two come and join to come and join and that Nano was in good shape very disruptive Nano was actually overdrawn and was far from disruptive it had [ __ ] all sales to Amazon of about 6 000 a month about six thousand a month whether it had 23 000 active uh subscribers is remains to be seen who knows who knows but there’s no evidence on the bank Ledges that we’ve been provided that any of these were paying any of these 23 000 were paying anything material at the time on a monthly basis so it’s certainly not recorded on the uh Bank Ledges that we’ve been provided and that we update on that we upload and that you can find links to on our website dcpartners.solutions slash podcast uh leonie Hill Capital uh said that they were committed they later they later took the position that uh their involvement was subject was conditional was conditional upon Nano buying this business called owned by Henry Lugia called MD box enter like here an MD box did not want to be involved in a transaction with Nano global someone someone apparently the principal from leonie Hill Capital actually wished to buy MD box and not invest at all according to Mr legia not invest at all inanna yet six months earlier four months five months however many months we don’t know the exact timeline but we do know that it was at an earlier date Aaron Kent himself wrote that we are committed we are committed to investing circulated this cap sheet and procured induced investors to put in millions of dollars also sent around circulated himself writing emails kind of unusual on a Sunday night sending emails to investors on a Sunday night at a time when this company was Cactus Nano when Nano was Cactus and Arun had agreed to be a director of Nano and was doing all the things that you would expect a director to do taking positions issuing capital and according to Steve papermaster which Arun confirmed himself he pushed the board to make decisions to cease fundraising under these notes these convertible notes and papermaster indicated in writing that the board was likely to accept the instructions and wishes of paper of Aaron Camp an unelected board member

but one that nevertheless had agreed to become a board director so someone that was unofficially a board director Aaron can’t May well be personally liable May well be personally liable for the debts that the company accumulated During the period

most probably most probably from about the second of April 2nd of August 2019 perhaps until as late as March of 2020 perhaps maybe a little earlier but perhaps as late we’ve got conflicting documents there are many other documents that I have not listed I’ve taken you through some very forensically we’ve had a look at the bank statements there was a cast of thousands writing the bank accounts of Nano plundering this money that was being given to it at the request of aruncant and papermaster millions and millions of dollars of serious investors money and these cast of thousands were plundering plundering plundering huge dollars half a million dollars a month just in wages alone

Aaron now writes and asks to to correct the record he now writes and says he never told he told investors he told some investors not to invest and he says that

well I’ll just leave it that he says that he he writes he writes in September of this year 2020 he writes that he told investors not to invest

he sets out a procedure that my investor my wow ought to have followed my investor actually did follow that that same procedure

I believe Aaron and leonie Hill Capital are personally liable for the statements that they made and induced and the Damage that they caused to individual investors and may be liable to a class action claim for their conduct as director as a director and unelected but nevertheless someone that agreed to act as a director someone that was giving instructions to the board and someone who the board listened to and and um adopted governance decisions in accordance with those wishes Aaron Once Upon a Time wanted to correct the record Aaron didn’t like my blog but believed that he wished to make comments on the record Aaron seems to have either a faulting memory or is telling certain untruths Aaron’s judgment is questionable Aaron has previous previously sought to comment on the record now apparently there is a a writ coming from a court in Texas to my company and to myself I have heard in writing allegations that I have extorted or attempted to extort money from Leoni Hill capital and Aaron Kent I’ve also received correspondence from YouTube uh saying that

complaints have been made that defamatory statements have were included in season two episode two season two episode two cannot be viewed in Singapore without using a VPN and picking it up from any other country if you’re an investor in Singapore and you wish to know the content of this Blog then we will publish under season two episode two part one and part two we will publish the transcript if you wish to watch the Youtube video season two episode two part one you may need but we’re currently we’re currently blocked we’re Geo blocked by YouTube if you wish to watch watch that episode you may have to use a VPN and watch from another country part three of episode two is being considered so watch this space my name is Mark Smith I hope you’ve enjoyed the episode I’m sorry it was so dense so forensic so technical it was interesting to make it was very very lengthy to make these podcasts take a very very long time but these are things that some people don’t wish you to know enjoy if you’ve got any tip-offs write to us at dcpartners.solutions slash podcast and use the tip before you can send documents you can send multiple documents you can write you can email you can instant chat with us you can ring us on uh on our Australian number 1300 327-123 or plus six one one three hundred three two seven one two three my name’s Mark Smith if you’ve got any questions drop us a note on dcpartners.solutions slash podcast or instant chat with us anytime day or night thank you very much see you next time

foreign [Music] [Applause]

[Music] [Applause] [Music] welcome back

[Applause] [Music]

the wheels foreign [Music]

Steve Clemons, The Hill.

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner of www.dcpartners.solutions/podcast – instant message us or instant chat with us on www.dcpartners.solutions thank you.

Chapters – coming soon – 21/11/2022

Steve Papermaster / Steve Clemons
Steve Papermaster / Steve Clemons

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

Leave a Reply – nothing defamatory will be permitted, all comments moderated. Spam will not be approved.

#whoisstevepapermaster

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

Leave a Reply - nothing defamatory will be permitted, all comments moderated. Spam will not be approved.

Many R’s Podcast – S2E2 (Part 2) – censored

posted 8 January 2023, censored shortly thereafter

Season 2 – Episode 1.5 Many R’s Podcast

Welcome to Season 2 Episode 2 (Part 2) of the Many R’s Podcast featuring our centrefold Steve G Papermaster. This series is presented by Mark J Smith of DC Partners Solutions, Sydney, Australia.

Chapters:

0:01 – opening music 0:34 – greeting by Mark Smith, episode overview 1:04 – stop the presses, why the delay, episode changes, defamation complaint from Youtube Singapore. S2E2 (Part 1) has been banned / censored in Singapore. Where to find transcripts for S2E2 (Part 1) …. go to: https://www.dcpartners.solutions/2022… and view the transcript. 3:44 – greeting by Mark Smith, episode overview continued 6:23 – alleged writ from Leonie Hill Capital Pte Ltd and Arun Kant v DC Partners Solutions Pty Ltd and Mark James Smith in the State of Texas, USA. 7:01 – letter from lawyers for Leonie Hill Capital Pte Ltd and Arun Kant dated 16 December 2022 sent to Mark Smith 7:12 – Steve Clemons, The Hill 8:04 – reminder, #whoisstevepapermaster ? 9:15 – Steve Papermaster & Ernst & Young. 9:30– reminder, Who is Arun Kant of Leonie Hill Capital Pte Ltd? 12:44 – Who is Bobby Lau of Leonie Hill Capital Pte Ltd? 13:14 – Who is Wee Meng Thoo of Leonie Hill Capital Pte Ltd? 14:40 – questioning representations made by Arun Kant of Leonie Hill Capital Pte Ltd 16:40 – timeline of dealings between Arun Kant of Leonie Hill Capital Pte Ltd and Steve Papermaster.

tba continued … incomplete.

Transcript (prior to censorship):

[Music] Rogues Rascals reviewables roads rip-offs receivers real estate agents and much much more this is the many others podcast season 2 episode 2 and a half if you like or season two episode two part two uh joined words [Music] today is the 17th of December and I hope you enjoyed if you’ve got any questions give us a call 1-300-327123 or uh Solutions slash podcast and instant chat with us there at

well welcome to season two episode two part two uh my name’s Mark Smith and um I am joined by some bird life out here uh in my garden so I do apologize it’s it’s not a recording it is a series of beautiful birds out there in the background I hope you don’t mind having them in the background um well we’re going to have a look at um a deeper dive so if you haven’t seen part one of season two episode two then you do need to probably go back and we’ll include a link down below uh to season two episode two you know well stop stop the uh presses stop the presses today is actually now the boxing day the 26th of December and uh I’ve just re-recorded uh what we were going to publish several days ago I’ve just had to re-record uh because we received just on basically on Christmas Eve but at the end of the week uh we received this uh very nasty uh email from uh from YouTube uh saying that they’ve been a defamation complaint lodged in Singapore about our previous episode season two episode two like in part one now this is part two that you’re going to be watching uh and uh this complaint uh it resulted in the country of Singapore blocking access to a YouTube video now if you go to our website dcpartners.solutions slash podcast and look for part two of episode two you will see the transcript of what YouTube in Singapore wants to sensor and wants to um YouTube and Singapore has obviously been asked by someone in Singapore I had logic to defamation complaint and so I have gone the extra mile with this episode part two of season two episode two uh we have gone into extraordinary detail uh now in reply to that particular defamation complaint if there is going to be defamation uh I am a lawyer and as I’ve

graduated law and from the University of Sydney and I am aware that a substantial truth having something be substantially true even if it’s not 1 000 trillion percent true if it’s substantially true then that is a defense against the defamation so if we’re going to have this billion dollar the only Hill Capital company coming after me for defamation well I want to have a defense for substantial truth in defamation so we’ve stopped the Press uh We’ve we were going to publish this uh very very close to Christmas and for one reason or another the episodes the content just kept on you know moving and here on there so anyway this is a different episode than what we anticipated uh publishing but I hope you enjoyed anyway and if you if you live in the country of Singapore then I invite you to come to our website dcpartners dot Solutions slash podcast find the transcript for season two episode two and for now I presume this uh this episode season two episode two part two uh for now I imagine this is not a blocked in Singapore yet so if you want to access this now I may well put it up on another platform as well so that uh and I’ll provide the links in due course but you can come to our website dcpartners.solutions slash podcast and there’s obviously some reason that someone in Singapore maybe it’s leonie Hill Capital maybe it’s Aaron can’t maybe it’s someone else they do not want you to see what is in here so what is in here you’ll have to watch

in the part two we ended that YouTube video we talked about well this was recorded in the middle of November and we talked about uh the need for a very careful and forensic uh look at some documents so

most of them are discussed uh over my shoulder here whoops over my shoulder here uh uh on the backdrop and we’re going to go through Abyss we’re going to have a look at Stephen papermaster again we’re going to just remind ourselves who is Stephen papermaster or Steve papermaster uh who is Aaron Kant who is Leoni Hill capital and why are they important we’re also going to look at a journalist who’s come to our attention uh in something we’ll show you today uh called Steve plemons uh journalist at the hill now uh Steve has interviewed Steve Clements has interviewed paper Master uh may have interviewed Aaron Kent as well uh but certainly discussed Aaron can’t and uh I’m absolutely sure he has talked to Aaron Kant uh based on some uh transcript that we’ll have a look at and we will actually have a look at an interview from the 1st of July 2019 and we’ll discuss exactly why that’s important in a little bit uh we’re going to discuss a document that includes Henry lagia now Henry ligue I think is is uh a good honest person and uh his company is called Reliant immune Diagnostic Center at one stage he was the incoming Nano Global president and chief medical officer at one state but incoming I don’t believe he ever took that role um and I think it was very smart to avoid that role and particularly uh you’ll see why in a minute we’re going to go through this very carefully so it’s actually taken me a little bit longer to get to where but we’re going to go through a bank statement or lyncher it’s been provided to us and we’re going to go through it we talked at the end of episode part one that we would go through it line by line we probably won’t go through every single line there’s about 1 200 lines but boy there are some very interesting lines in there so we’re going to go through it I rely on the completeness and correctness of this now this has been provided to me um indirectly um from paper Masters office I believe it’s correct I rely on its correctness four statements that are made in this podcast and I disclaim to the extent of any incorrectness I’ve done my best to uh satisfy myself for the veracity of this document but to the extent of any incorrectness uh well I just came I disclaim that so I’m just the um statements that I make are to the effect that this Ledger and this bank statement and the related documents are true and correct business records

I’m also going to discuss an alleged writ now I’m I haven’t seen this uh an alleged writ against your blogger um and one of my companies uh in the state of Texas now I have a reason to believe a red has been filed uh I certainly um has it today it’s the 17th of December 10 47 am right now as at right this moment the time of recording I have not been personally served nor has my company been personally served right now I’m at the registered office of that company so if someone comes up and turn uh serves that document right now then I’ll discuss it on there otherwise we’re going to wear it and uh it has not been served but I’ll discuss why I think there is a writ on its way and the source of that knowledge I’ll also discuss a letter that I received overnight and as I said I’ve been very carefully going through this bank statement and this Ledger and researching I’ve also discovered something something some things uh really about a guy called Steve Clemens from the hill and uh the hill is a publication that uh Aaron can’t certainly been discussed in and uh Leoni Hill capital and state papermaster have Steve papermaster has been interviewed numerous times by Steve Clemens and we’ll discuss Steve Clement’s connection with the bank statement

now I’m not alleging that there is any corruption I’m just reporting that Steve Clemens appears on the bank statement

I’ve written to State Clements as bosses asking for an explanation and I don’t have one so I’ll include a copy of that correspondence uh I may well include a copy of a letter as I said received overnight and information I have on a alleged route in the state of Texas against myself and my companies all right so who again is Steve papermaster and who is Aaron Kent Aaron Kent and who is leonie Hill capital and why does this blogger give a [ __ ] well um State papermaster came to Australia and um

may have been involved in a car accident and may have been involved in some entertainment um and certainly met investors in Australia and um just so happens that uh at least one of those investors is my client and um laughs considers himself a victim of this sleep paper master um Steve claims to be an expert at everything claims to have worked in the white house for eight years for George W bush claims to be a police yeah like a policy expert um this is his uh Wikipedia page um Wikipedia.org wiki Stephen underscore papermaster so uh it’s there for everyone to see uh and if you Google Steve papermaster it’s the very first item you will see uh Steve Once Upon a Time uh was very close to Winston young he’s since been disowned and if you need a reminder uh business young recommends I have nothing to do with him and they’ve designed him they will not promote him uh they’re forbidden from promoting him uh so they’ve uh I think the words were dissolved all of their business dealings instant young so uh he’s got leprosy according to Anson young uh so maybe they know something that the rest of the world doesn’t know uh Aaron can’t well once upon a time Aaron can’t and Steve papermaster appear to be uh best buddies and uh is about other two and uh there’s also a few videos that they appear in and they appeared on stage uh sprigging about what Geniuses they both are and um uh I’ll make sure I include a picture of Aaron Kent not in his head yeah he’s an expert right um

as far as I know Aaron certainly is but I believe was uh CEO managing director of a company called Leoni Hill capital and Leoni Hill capital uh claims to be an exempt funds manager based in Singapore uh takes pride in being a you know hedge fund and a venture capitalist and private Equity Firm and all the rest uh this is some things that you’ll find on the website and I’ve included a profile here on Aaron Kant he was the chief risk officer and chief executive and all the rest so so once again let’s just have a quick look at Leoni Hill capital’s website this is an archive version you can’t see this right now but this is who they are Aaron can’t as I said chief executive officer Chief risk officer this this certainly was uh the case or this was the contents of their website until just recently and I will put down here down below a link to uh it’s called Acra which is the government regulator for companies in Singapore it does list the names of the officers and the shareholders and Aaron Kant is um certainly one of those shareholders this website lists him as the chief risk and chief compliance officer so Aaron’s out there looking after investors interest Disney um and why that’s relevant is uh when he makes certain representations about the strength of Nano he and uh the company’s commitment to an investment after a long period of diligence I suppose you’d call it so Aaron is apparently is an entrepreneur and investor he’s been around 26 years so he hasn’t just blown in this is what he holds out to the world that he is general manager and CEO at startups and Fortune 500 companies in the US Europe and Asia all of those so he’s uh apparently no blowing a diverse background in building Enterprises focus focus startups he claims you saw him nod his head just a moment ago that was to a question whether he was a um a guru at early stage Investments yep yep got in on SpaceX Tesla Baidu 10 cent uh Alibaba gun gun investor that was that was what he said yep that’s him he’s a guru uh he’s experience in investing in disruptive startups coupled with strong financial industry expert from trade from Trading to debt finance and blah blah blah blah entrepreneurial building Technologies just goes on oh he’s also the liaison officer on matters of anti-money laundering count of countering financial terrorism Singapore is a very very sophisticated Financial market and uh you know if there’s going to be any fraud Aaron would be right on top of it because he’s got an MBA from Stanford University and uh electrical engineering degree good on you Steve sorry Aaron is joined by Bob Lau head of private equity never met Bob I’m sure he’s a great guy he’s been an investment partner since 2010 has over 15 years in financial engineering and engine and energy Industries uh head of private Equity since 11 years there we go so another gun all these guns um look at those qualifications master of science in financial engineering oh my God so uh he’d be able to pull apart any balance sheet and put it back together again as would uh Wu we Ming Fu fumi Wing whatever head of Investments TMT uh a sector a veteran 20 years of track record served in leadership positions again in Fortune 500 companies like HP Sun micro VMware Qatar and telecoms it just goes on and on uh built a sales and marketing buildups channel and OEM ecosystems LED corporate strategy and m a like these are the guns that you want involved and uh why is this important again we’re going to see a representation made on behalf of leonie Hill Capital that we are committed and not only that but Nano is in great health it’s it’s uh it’s in um you’ll see the exact words you’ll say the exact words in Aaron’s own in Aaron’s own words that it’s highly disruptive it’s very disruptive I think you can use those words very disruptive and uh we’ll also this bank statement and Ledger is going to show us precisely how disruptive precisely the level of sales uh we Ming is involved in pro bono championing of innovation security alliances Cloud ecosystems cyber security blah blah blah blah blah now we don’t know what his uh qualifications are but um wow you know has he got any degrees don’t know but um would would Bob layout and Aaron care with air mbas and all the rest would they be involved uh could they um conduct due diligence on through me Wing what we mean we flew we Ming I’m sure they can in this video we are going to question the wisdom of some of Aaron kant’s representations and um the truthfulness of and where you can be the judge we’ll just look at them and we’ll just look at them factually and we’ll ask the question did Aaron make these statements uh I’m going to be saying that Aaron did make these statements uh the ramifications you can um come to your own conclusions uh there are some things that I think are inconsistent uh between what Aaron says and writes there’s no nothing like about putting something in writing to a very serious person saying something is true when apparently is not true and uh I’ll let you the reader determine for yourself whether you believe there is any consistent any inconsistencies uh I will also ask you the reader or viewer um the person watching this uh video to consider what you will hear in this podcast about Henry leggear and what Henry ligue has to say about his dealings with Aaron Kant and whether they line up with what Aaron Camp put in writing to to my client am I investor and we’ll also consider the role of Steve Clemens and a publication called the hill various very prestigious publication um and we’ll consider you know whether Steve Clemens has been

because that’s the word whether Steve Clemens has been ethical in discharging his duties and see if he can find any disclaimers on any of Steve clemens’s work and we’ll also have a look at some correspondence I sent to Steve’s bosses the editors and the board of the parent company that owns the hill uh we will look at correspondence with Steve with Henry lagier and again I say he comes through with shining pinchotic in a good light in a very good light okay we’re going to look at at the timeline in a in a forensic and I’m sorry a in a dense way so um the timeline and the um timetable leading up to when Aaron Kent made representations to our investor that my my client for that Leoni Hill Capital was very committed uh is something along the lines of this it certainly happened absolutely no later than January 2019 um and the investment was made in early August so this is a full six months before uh there are there is an interview with Mike Butcher where you see uh Aaron uh nodding his hair yep he’s he claims to be a uh an early investor expert Guru um expert in making those early Investments and this is what he’s holding out and he’s nodding his head telling the whole world yep he’s an expert and he’s sitting on stage at Davos with a paper Master being interviewed by a guy called Mike Butcher we’ve got over the shoulder here you’ll see there’s a tweet just confirming the exact date and time you know or at least the time range so we know it’s January and there’s also there’s a picture here of uh Aruna and papermaster and Mike Butcher on the stage

so this is not necessarily the next thing but the conversation is continuing and we can see this uh from a press release put out by Aaron and a paper master or the claims to be have been published on the 1st of March 2019 and um you know it’s talking about a conversation between them now it’s a continuation of this conversation so these besties are in there they’re on stage they’re dropping up Investments at um at Davos uh they’re changing the lives of billions and they’re making all sorts of promises they’re telling that this is going to be transformational for the world uh it’s going to completely change your life over the next 15 years of the App Store blah blah blah blah blah so they’re talking about setting up a platform and what does this mean uh well we’re going to now go and have a look at an article this this might give us a little sense of what this could mean I’ll bring you to an article at in the uh the Australian which is a huge publication here in Australia it’s one of the main dailies and um it’s an it’s one of the only Nationwide newspapers this in the financial review and it’s talking about the values that are involved and this might give us a sense so we know that our investors according to this cap table and I’m about to show you uh the investors are buying in at a price uh you know at a very small price that you know around 100 million odd US Dollars uh they’re saying this company is already worth 71 million dollars according to this uh cap table and uh uh papermaster is offering shares in a series two uh fundraising round you know it’s being held out that Leone Hill capital is going in for you know eight million dollars Alibaba is going in 10 centers going in um tpg another huge investor uh are going in you know for millions and millions of dollars and on top of that uh my investors are going as these convertible notes

this capped table I noticed dated 23rd of July now we’ll have a look at the financials later on we’re going to go through a spreadsheet but and we’ll have a look really for the entire year but what is motivating this investment we’re coming back to this uh Australian newspaper report it’s talking about now this is this is these are values today in 2022 and um I’ll put just down below a link to this article for those that are interested but it tells us that there are apps that are out there in the marketplace that are selling for 200 million US dollars So at the very least doubling your money uh and uh this talk here of you know other apps South Australian uh Kayla and Toby sell their sweat app uh for 400 million dollars so these are not um these are not small um these are not small goals that are being sought and yes there are today that we’re well aware of we are well aware of cyber risks but in 2019 you know uh what was being dangled in front of our investors is coming in on the ground floor and you’ll see you’ll see just shortly after this uh cap table is circulated Aaron can puts in writing that Leoni Hill capital is very committed very committed to an investment now I don’t know of any other way to um

interpret the words very and committed as other than very committed but um you’ll see

was uncommitted so very committed and I’m committed to clearly many different things turning now back to our timeline let’s have a look at these bank statements and we’ll go through this in fine detail and we’ll start to look at some of the notable transactions so keeping in mind Aaron his besties with papermaster from at least January well they’re up on stage so I I presume they didn’t meet out the back of the stage and decide hey let’s go out on stage and let’s do this um so we’re having a look and I’ll show you the um the spreadsheet you can see that there’s uh this is a bank statement of the banking transactions and uh sadly I can I can show you that on the bottom line here um there was a total payments of 21 million and outgoings sorry in receiving receipt of 21.7 million and payments out in other words it’s all gone um there’s three Bank bank accounts at Frost Bank and uh the Frost Bank Account Details we’ll we’ll go through those uh later on and you’ll see that these Frost bank accounts um uh marry well what is Apparent from and notable is that there’s lots and lots and lots of money going out every single month uh and Gusto I’m told is a labor hire company um a payroll company this gentleman here is um apparently the CFO former Ernst young a member of Staff but there’s some huge huge outgoings every single month and on the on the inbound side there’s nothing like absolutely nothing nothing up in terms of sales where where are all the sales and later on we get to August and there is a representation made by Aaron who at this point we know he’s uh intimate with this company from January 2019 onwards but he’s telling uh our investor and telling the world and now he’s now currently saying currently as it’s September he writes and says no we told people not to invest well in August 2019 you be the judge whether he is encouraging our investor to invest and we say he is so uh what what is not very obvious what at all is that there’s not many sales um so in the month of January uh what this six and a half thousand dollars yet on the on the expenses side there’s huge expenses um they’re spending a fortune on advisors now this is a man Mr papermaster who claims to be you know a guru a public policy expert he’s got a but yeah he’s got a payroll of um half a million dollars a month so this Gusto 236 000 a month is paying uh sorry that’s that’s a fortnight that’s a fortnight and you can see here um a very similar number on the 15th of uh January and it’s no different uh two weeks later

employed

two weeks later you know 230 something thousand a game so these are ginormous sums going out every single month a payroll of half a million dollars a month sales of six thousand dollars a month and I mean this isn’t these are not isolated months um these are this is a pattern and uh if we go over to uh this other account the 2942 account well where’s where’s this money coming from and uh they were like in other words how sustainable is this how sustainable is more of this well there’s a um there’s a balance of money even you know by March there’s nothing like there’s nothing coming in nothing nothing we can see in this particular account uh ending in one two double five there is some convertible notes being sold so it’s one and a half million dollars and so paper Master is apparently you know flogging off the silverware raising money with convertible notes spending half a million dollars a month on um half a million dollars a month on labor into Gusto let alone the other monies that paper Masters paying himself and uh we meet we meet Karen can’t um possibly Mico uh possibly at Davos but we’re certainly hearing from him in August of 2019 and he’s telling us everything is great they’re very disruptive they’re in very good shape Aaron Kant is and leonie Hill Capital are very committed uh it’s it’s hard to imagine given that I’ve shown you uh the expertise of uh the Personnel at leonial Capital it’s hard to believe that they hadn’t had a look at the financials uh before saying yes we’ll invest you know and yes we’re very committed uh it’s very very hard to believe that

so we showed you in early February there was a convertible note written that goes straight into expenses and out the door goes you know more money Thirty fifty seven thousand here advances to Steve papermaster um it’s just there’s some very large sums um the cfo’s taking 24 000 a month uh it’s interesting here there’s a there’s a fellow that we’ll see later on called Aaron and Aaron at nano.com Well turns out Aaron’s surname is papermaster cool uh Aaron and if we have a look at Aaron and his uh Facebook profile or his LinkedIn profile let’s go and have a look at Aaron’s LinkedIn profile this is a lot of fun Aaron papermaster well where does he work well he’s a director at uh powershift that’s one of paper Masters companies and Nano he was the head of operations uh app economy that’s another um that’s another paper Master Company so jobs for the boys this is all very good but it’s even better than that it’s got the sprinkling of the Aaron can’t holy dust because he’s saying well it’s all very we’re very committed they’re in good shape uh it’s it’s all nothing to say here and Aaron Kent holds himself out as an MBA from Stanford uh and one of the world’s leading investors he nods his head uh are you good are you good at making these early Investments oh yes we invested in uh what was it Tesla and uh SpaceX oh yeah we made a fortune there I mean what did they invest did they invest five dollars or did they invest hundreds of thousands it’s Aaron holds himself out that you know they invested millions of dollars and you know quadrupled their money and all this sort of thing he’s he’s nodding his head on stage and you see him not in his head and we showed you nodding his head he’s Aaron’s nodding his head and just in case uh you forget let’s have a look over my shoulder I’m sorry I over my shoulder let’s have a look at Aaron nodding his head again because uh Aaron are you an expert oh yes yes but um so lots and lots of dollars going out now in the tags on our web page we’re going to tag each one of these people that are helping themselves to invest his money and when we say helping himself it’s not really just a small amount we’re talking about in one year you’re seeing 20 million dollars uh vanish evaporate you know Into Thin Air and you know the company goes kaput um Nano Chris that’s one of the owners that’s a paper Master Company it’s taking 12 000. um there’s just that’s that’s this this week he’s taking 12 000. uh there’s a lot of these names we’d love to know about oh they’re giving away 25 000 in sponsorship now you know a company that’s uh that’s having this flog off the silverware to pay to keep the lights on uh I’m not so sure that’s a great idea to be giving away twenty five thousand dollars you know this month in sponsorship I’m not quite 100 sure that’s that’s the way to go especially when you’ve got giant sales to Amazon look at this at the impressive figure of six thousand four hundred and nineteen dollars how fantastic uh that is that is brilliant these are magnificent dollars

uh each month this seems to be quite a regular uh expense uh huge dollars to signposts now signpost is apparently a CRM type software a Jillian uh a paper master was setting up a company called a Jillian and bought Super Bowl ads and uh if you um if you’re unfamiliar with this I’ll pop a link down below to what the Liquidator of uh Julian had to say uh it uh it was one of the best capitalized businesses uh in at that time who uses in the around the.com bubble it was uh taking millions and millions of dollars from investors and paper Master managed to drive that into the ground as well there’s no shortage of Consulting uh people that um paper Masters giving money to and it’s bringing in a million dollars here and um transferring it you know from its other accounts it’s selling off the um silverware and at some point here we’re going to see uh you know some people where it you know it is a good thing it is getting legal advice so you know hopefully for the 51 000 it spends here and there was also spending money on uh Jones day and ey going to mention early later on uh it’s good that they’re getting some professional advice but it’s using money flogged off from you know the paperware sorry the silverware sales uh to do this and at all times when it was issuing these convertible notes the convertible notes were who have been doing payable to the investors in September of 2019 so come August Aaron’s telling us yes we’re very committed Aaron’s saying Leoni Hill capital is very committed to an investment of you know eight million dollars along with 10 cent and I do and um whoever the other ones were Alibaba uh I’d hate to forget Alibaba well that’s what he’s he’s saying and yet come September and Aaron’s pressuring according to emails written by both Aaron and papermaster Aaron is pressuring papermaster to close these convertible note rounds Aaron must have known that these were due and payable in September but he’s pressuring he’s pressuring paper master and the company to take this money

but he knows it’s due in payable in September of 2019 yet it’s got [ __ ] all sales if I could put it like that it has absolutely [ __ ] all sales uh okay 12 000 so sales are doubling but they’re at an incredibly low figure yet 230 000 too you know and these sorts of numbers are going out the door to Gusto for wages half a million dollars U.S per month and again this is all because it’s only doable because monies are being raised by flogging off the silverware Aaron now Aaron this is uh something to note 21 000 it’s not every month uh that I well we’ll have a look and we’ll do these reports but Aaron papermaster works at various different companies now I wonder how much he’s getting for um you know at the other companies so not only is he getting money from the convertible notes and the silverware being flogged off but other money’s going to other paper Master companies uh twenty four thousand fifty thousand um from the issue of a convertible note Stephen paper masked a hundred thousand dollars from an events you’d really

all of this all of this makes me wonder

when paper Master when Aaron can’t writes to my wow and says that now is in good shape and very disruptive and we’re very committed it really makes you wonder whether Aaron can’t can read um a profit loss whether he it all makes me wonder it really really makes me wonder um signpost that seems like an elaborate expense of thirty six thousand dollars a month half a million dollars a month for labor it just does not seem uh doesn’t seem sustainable yet Aaron is saying good shape good shape we’re very committed uh there’s some very large expenses going on here

again all of these people all these people we’re going to tag

and people that I don’t know from people that have worked with Aaron you know what’s he like uh uh anyone wants to give us any tip-offs go to our webpage down the bottom uh and there’s a tip or form send us documents uh this was a fabulous arrangement for papermaster himself he was he was taking out of every fundraising who knows whether he’s getting any money from custo like is that is he you know a beneficiary of that payroll as well uh did a Julian you know turn into signpost uh is is make money paid to signpost also money that goes to papermaster I have a famous idea but I’d love to know that anyone that knows anything about signpost let me know Mark at markjsmith.com or use the to perform down below on our webpage dcpartners.solutions slash podcast uh so again four and a half million dollars of uh convertible notes uh and what what happens well uh Aaron’s got his hand out paper power shift is getting money the lawyers are getting paid uh the uh ex Ernst young CFO of um Nano is getting paid another six hundred thousand dollars getting paid to some other people so that’s they sound Chinese don’t they um we’ve got well converted note payment of six hundred thousand so uh we’re we’re vlogging off shares uh to pay back the people that we borrowed money from in the past I wonder whether there’s any recycling going on so there’s some very very very large expenses and again um well Tommy Hall he got his money back didn’t he uh convertible notes so that was some convertible notes paid back um now any one of these companies will list them all would love to know McLennan their insurance people aren’t they yeah so every month we’ve got our our CFO is getting well looked after sales come April well 24 000 that’s pretty that’s pretty uh disruptive isn’t it um we’re only falling short just that the wages bill by 475 000 a month it certainly doesn’t appear um sustainable convertible notes Griswold trust they’re getting paid back 150 000 great yet more money is being raised isn’t it so no doubt these are all very very interesting and promissory notes 25 000. I guess that’s uh like a convertible note as well um so how are we going to pay that well we’ve got sales of 10 grand to Amazon um should be fine should be fine so these are our um our expenses now again more gusto it’s um it’s fantastic

we’re going to go back to this timeline now and just have a look now that’s our look at early 2019 and we’re looking at uh team in fine detail so I’ve showed you all the people sucking off the um the teat of the Nano uh machine uh June 2019 well paper Masters over in Monaco Monaco and he’s floating around super yachts and making all sorts of promises

I can’t tell you exactly when this was recorded but I want to go and show you now and this interview is done it goes to where on the 2nd of July the first of July there is a payment from paper Masters company according to this spreadsheet there is a payment that goes that goes to the interviewer paid by interviewee I’d like to have a quick look at that interview and we’ll have a look at this spreadsheet on the 1st of July it’d be good to have a look at the bank balance because keep in mind there’s half a million dollars a month going out and the only way that this works is if more convertible notes are issued because sales are coming in at the enormous sum of about nine thousand ten thousand dollars a month there’s huge money going out the door uh our public policy expert is is paying huge dollars to Consultants uh he’s got his CFO who’s taken 15 000 a month we’ve got Aaron who’s in there all the time you know for fifteen twenty thousand dollars twenty five thousand uh we can um anyone that’s interested I’ll put this spreadsheet up on our website and you can go and uh let’s just have a look we’ll go and have a look at Aaron at uh Nano Global that’s Aaron you know who Aaron is Aaron papermaster and uh well in the year poor Aaron it only took 276 thousand dollars for the year now at the same time we know that Aaron um we’ll just just go back to selector we know that poor old Aaron um he’s a busy boy he had some other jobs he had to attend to as well so uh at the same time he was a director of powershift at the same time he was the owner and president of free range at the at the same time he was the head of operations at Nano he’s taking 274 000 he must be on a million dollars a year or something um is he well I don’t know he’s on more than 274 or is he a volunteer at free range he’s the owner and president um is he getting money there now

let’s have a look at another payee power shift power shift finches power shifts getting half a million so he must be he must be taking a clip here as you know what did what do you get for half a million that’s that’s just in the year um we’ll have a look at uh Steve go out Stevie so well Steve Clements let’s have a look at Steve Clemens but we’ll have a look at paper Master as well so Steve Clements now this is telling me that Steve Clemens now that there may well be more than one Steve cleaners in the world I’ve written to the editors at the hill where Steve Clemons were a one a Steve Clemens apparently works uh I couldn’t see any um I couldn’t see any disclosures given that Steve does a cash for comments but uh maybe he doesn’t but maybe he does I don’t know what I’m what I’m alleging is that on line 630 of this uh checking account Ledger is a record of a payment by wire on the first of July 2019. from paper Masters company to Steve Clements for 14 000 61.99

uh otherwise Steve papermaster has taken advances for one

of 1.2 million on top of that we just saw a moment ago that um powershift has taken 557 thousand dollars uh let’s have a look at Nano crest

Nano Crest Holdings well that sounds official doesn’t it Nano Crest is oh well that’s fairly modest they’re they’re only finance Consultants well they’re only tied up to 100 Grand to a year that’s on top of I mean we’ve got a CFO um I wonder if he’s um I wonder if he’s giving advice is Mark Maney if I pronounce that correct the CFO is only on 362 000.

so look there’s some there’s some questions but it’s okay because uh we’ve got Assurance here that Nano is in a really good shape

so I wonder what really good shape actually means does it mean that um does really good there’s very good shape actually I think in fact I think we should pause and see precisely what did um Aaron write to our well

so what’s being said let’s have we will have a look at the bank balance at this exact time in a moment but uh what is being said is that on the 2nd of August 2019 papermaster writes to our wow it says and this is copied to Aaron hi wow we would be delighted to have you join Nano family and friends as you’re contemplating Aaron has uh has pushed me to close this out right away as we will begin as we will begin closing the institutional round with Leone Hill and others and the valuation will be higher so we’ve shown you that article in the Australian where these sort of apps are going for you know 200 400 and 500 million dollars these sorts of figures and that was clearly the intention and if if anyone needs to uh have a look down below I’m going to publish an article between an email between paper master and the whale where the Wales company anyway saying that is the intention and we’re looking for a you know post money evaluation of 500 million I think I think was the figure uh it was wonderful uh for us to all share dinner with you in Monaco on your yacht so we are talking about you know some big fish here and you and blank such gracious hosts gracious hosts thanks again in any case in any case we really appreciate your support and look forward to teaming up in many ways and growing the relationship uh so this is on the 2nd of August now I’m going to take you to a letter from Aaron’s lawyer later saying oh well uh the closing date is uh for the offer was the 30 the 31st of July so this doesn’t count uh I run on the 4th of August now the investment was made on the fifth um and this is what Arun writes and I think it would be worthwhile to before we go through this in detail let’s just go back to what he’s saying now in September 22. a run writes to me out of the blue and he asks um he says he wants to clarify a few things this is uh September so I post the blog back in August or whatever it was Private confidential dear marking I’m copying blank from blank who’s well known so that’s another investor it’s another while but not um not not my well I know who this particular whale is and uh it’s a different person I’m copying blank from blank who is well regarded in the Australian industry he will tell you how we work uh and we were in no way involved with investors who put money in to Nano that seems pretty clear we were in no way investors we have no idea what covid-19 vaccines you’re talking about so that’s that’s uh Steve’s video when he says he’s got a cure for cures and um he’s got a cure for pandemics and he’s got a treatment for covert yet this company goes put right in the middle of covert um has spent all this money in fact this is what Aaron writes we in fact told people not to invest in in Nano after art after our DD failed well he’s saying he’s saying we’re no we were in no way involved with investors who put money in and he’s saying he told them after their DD failed he told others not to invest well he’s he’s saying we will have a look and see what Aaron at the time is saying um and he says he told Matt W and uh blah blah blah not to put money in uh he says ey Ernst young had iddocumented due diligence document praising Nano and its technology and hopefully you see that first there’s more real cast of characters you don’t mention in my ass why so um we we do have this uh we’ve got this Bank Ledger and we can see who these people are and each one of these people get a mention each one gets a mention every single person that’s here is being tagged on our website and if you know anything about any of these people we’d love to hear from you use the typical form down below uh or go to dcpartners not Solutions slash podcast and use a Tipper form on that page so coming back here this is what Aaron now says I I hope you will give us a chance to clarify or to rewrite history is that what he’s saying to clarify and glad to answer any questions you have now that gladness seems to have worn off a little bit but this is what he asked for I’d like to rewrite history and I’m glad to answer any of your questions dear blank please help me to get my name clarified and I hope you’re doing well regards everyone can’t so what did Iron write at the time which the following day our wow different whale not this guy another whale um

well of course this this particular well as well as my well to put in money millions millions of dollars so Aaron writes to Steve and copy Steve and my while and says Dear blank he doesn’t write this Dave he’s talking to my wow do you blank we are contact we we are committed to Nano and very pleased to have you and some other friends at I’m sorry and some others join at the family and friends round we are committed I’m sorry I I said very committed okay we’re committed so that’s even clearer we’re not uncommitted we’re not

we’re committed that’s a representation this is trade and commerce and these [ __ ] are out there trying to get investment investment millions of dollars and they’re holding themselves out but we’re committed and now at this point we showed you that in January at least January um paper master and can’t know each other they’re sitting up on stage in Davos they’re writing journal articles and dated the first of March they’re getting more interviews I’m going to show you the Steve Clemens interview in a moment um it’s and which I I don’t know if it’s the same with Steve Clements but a Steve Clements was was paid the day before this uh YouTube video apparently goes to where a Steve Clements was paid 14 061.99 now whether it’s the same Steve Clements I can’t tell you as I said I’ve written to the board of the hill to inquire if it is the same Steve Clements and we’ll just have to hold our breath uh Aaron writes on the 4th of August we are pushing Steve to close this round now I will show you the letter from arun’s lawyer saying oh no it was already closed and Ron is saying here it’s open and but we are pushing Steve to close it so when you tell a director of a company to do things and that company does it

you’re acting as a de facto director

at least under Australian law that would be the case if if

at least under Australian law that would be the case I will put

I will put up a definition of what a director is under Australian or under the corporations law and a director is not just the person that sits on the board it’s the person that the board or the actual directors have a tendency to listen to and to take directions from and it would appear that Steve Steve writes and and on the 2nd of August and say says Aaron has pushed me too close there’s an admission and uh there’s an admission Steve Sai are being pushed by Aaron and Aaron says that’s true I am pushing Steve we we have been pushing Steve to close this round with family and friends fast because because why because once things that institutional investors come in we are not planning to have any convertible notes so we know that Iran is committed to coming in and these convertible notes are finishing and so once our Arun puts his uh 8 million in and 10 cent put their four million in and their other friends put in another four million in that was Alibaba and yeah some other friend puts another we’ll pay out your convertible notes well no your convertible notes convert that’s the idea so uh you get common stock in other words we’re very committed you’re getting common stock come and invest with us we are very pleased to have you and and some others so we’re welcoming you to the share register we we are very pleased to have you and some others join join present tense join at the family and friends around join who join us

he’s speaking for for Nano here rui Nano investment Aaron you’re you’re in big trouble here buddy uh we are not planning we are not planning he knows he knows there’s no plan for any convertible notes because he’s on the board he’s acting as a director he knows he knows the Strategic direction of his company he knows the company is in good shape and very disruptive trust me trust me the company’s in good shape so we’re gonna have a look at its bank balance when it’s writing this on the 4th of August so there you go 4th of August and we’re going to have a look at the Gusto payroll I’m gonna we’re gonna see how good a shape it was in we want so we’re telling we we’re not management but we’re telling management we want management so in other words he’s the board we want management to close the funding round and concentrate onboarding on onboarding customers which will be good for adaption of platform and revenues so that’s the that’s the task let’s get these revenues up he would know what’s it how’s it going to be good for for Revenue you must know what the revenue is he must know but trust me it’s in good shape and very disruptive thanks again for your support and looking forward to our journey with Nano so we’re all on a journey together with no no if you have any questions please feel free to contact me oh so later on our friend does our whale does contact Aaron oh no we weren’t committed but anyway let’s have a look so the next day so that’s the fourth at 8 28 p.m the next day for the while Arun and Steve we’re excited by the opportunity and will commit to an investment of 2 million US dollars if you can send the documentation and confirm timing of funding regards well

papermaster writes back oh that’s very nice Mr wow uh two you know Mr wow CC I ruin dear blank and blank so this is um this is a person that’s at the Wales organization we’re delighted to have your support and involt we are delighted to have your support and involvement in Nano we have been closing out all Financial final family and friends as Arun has described in his note so we will send the executed documents and the wiring information for funding right away we look forward to teaming up in many ways together and to staying close as we execute on the upcoming near and long-term milestones and we know that Iran is on the board because he said so he’s not he’s not part of the management and that was what he said so these are some of the sorts of documents and this is some of the ways that a rune is holding himself out let’s go back and have a look at how good a shape when Iran is saying that it is in good shape and he’s on the board

let’s have a look at the at the bank balance so we saw that document and it was dated it was Dayton the 4th of August the um the issuing convertible notes still a hundred thousand here 100 000 there

it’s taking 150 000 from uh paper Masters company Short Term Loan 150 000. 100 000 with something off Tim uh silverware more more money just to keep the lights going power shift have to have to put in 25 50 a couple hundred thousand a week we’ve got sales of [ __ ] all and uh well look have a look at the uh bank balance 4th of August minus OD so just to pay the wages 246 000 so half a million a a month 200 quarter of a million a fortnight it’s in good shape apparently according to heroin it’s in good shape paper Masters email goes out on the 2nd of August saying well thanks for having us on your super yacht um very nice to meet you in Monaco thanks to your darling for hosting us uh Arun is pushing me Iran is pushing me to get some money in the door because uh Hey like I want to know if the um if the wages checked Augusto is going to bounce quarter of a million dollars and when’s the next one coming in we’ve got sales of six thousand to Amazon oh that’s not much and uh paper Masters having to prop up you know he’s a quarter of a million dollars here so really it was only ever able to pay the the thing because paper master was put in emergency loans so this this 250 000 so that’s how I kept that on and I think this is uh not my well the other while which you’ve been one and a half mil it may be another another one and what does um what does paper Master do well as soon as money comes in I will take out uh we’ll take out money for a power shift uh and here’s here’s my wow so there’s that representation here oh it’s in good shape well it’s actually overdrawn negative money and a run this is something well is this something that investors people that listen to the advice of a run ought to be concerned with actually think it might be shooting common stock of two thousand dollars

so more money is uh two million lands on the seventh and the cfase got his hand out for 50 grand for that month yeah that’d be nice and then paper Master one’s 50. and it just goes on and on and on and on and just to be able to pay the bills how would they have paid these um these amounts had these whales not chipped in this money it’s it’s a real interesting um it’s a really interesting question now we showed you a Steve Clemens a Steve Clemons on line 630. here would have been easy to miss was paid the sum of 14 000 61.99 we’re now going to go and have a look at a

YouTube video featuring an interview from another Steve to Clemens I don’t know if it’s the same one or not but a Steve Clements is give me an interview and it goes to where on the 2nd of July but the previous day could be the same statements could be a different state of clearance it receives the sum at 14 000 61.99 so if anyone happens to know anyone by the name of Steve Clemens that um it could be a different one okay I’d like to hear from you if your state claiming that you’re a journalist and you give interviews uh what is the ethical code should you be sort of writing a disclaimer or hey I’ve got an interview or you know I’ve received a gift of 14 000 or I’ve received a gratuity or um I don’t know what the ethical codes are I’m not a journalist but I’d really like we’re just going to skip through a few bits of this okay we’re going to see the intro and then I’m going to take you to about nine minutes in what’s the body language on this guy Steve Clements tell me if this is tell me what you think tell me what you think write some notes in the in the column in the comments below and now joins to you on stage for a conversation about data-driven cures is the CEO and founder of nanovision Steve papermaster please give him a warm welcome

so I met this guy a few weeks ago and I um actually had seen well that’s absolutely bull crap because this guy Steve Clemens met Steve papermaster on a trip to China in about 2007. all right keep going see him in action uh in Davao Switzerland in January but had known his reputation of being a science advisor to President Bush and this was still a time when science advisors were looked at as you know you know good people right so uh you know I’ve been worried myself many people have seen my writing I’m worried about you know the state of science or doing with science respect for Science and these systems we’re in and see paper Master just to put on America’s not only the CEO advantage and founder a real entrepreneur well it’s Clemens guys putting on quite a show he’s really pumping up uh the audience here uh it’s as if he’s being paid or something I mean shall we let him keep going reference by uh was also one of the people who’s really one of the fathers of the uh Human Genome Project so Stephen have you take us down the path you said this morning before and we had that we have the Cure curing and a lot of our assumptions that built in and how we’re looking at the future of healthcare are pretty rotten to the core am I misstating that uh no Steve thanks a lot what did Clemens just say that am I misstating that did I say the right words um did I did I say what you asked me to say uh let’s keep let’s let’s let Clemens keep going well actually we might skip ahead to the more gushy bits wait until you get to this bit I mean it just gushes and gushes and gushes it’s so only so much caching we’re gonna have but let’s let’s go to the ultra gushy stuff securing and to cure it I think we have to call out uh the truth in the room which is broken um even the way that we develop and deliver cures is broken it’s nobody’s fault it’s just broken relative to where we should expect it to be at this stage in 2019.

even close to it again not certainly anyone’s fault it doesn’t work so if I’m getting it right sort of nanovision and what you’re trying to create as a platform that’s a bit Facebook a bit 23 and me and a bit Uber is that right that’s right um okay so um on the right track so what does that mean I think one of the things we’ve been struggling with today and I find uh so important this is figuring out how you Empower people and patients where they are facet of life or we will have failed in the opportunity and that is tragic so and we need to translate into changing everything about clinical trials drug development drug Discovery um pricing uh we don’t have to talk about whether we have a uh an arbitration to determine or transfer pricing of Freedom that access you just get on and use it um most aspects of cures and care we should have available to us whether it’s free or it’s fairly low cost and very rapid development and delivery so instead of 10 to 20 years to develop a drug with a 90 to 99 failure rate that will serve less than fewer than a million people it costs over half million dollars we should have things falling on a Fair concert basis with a 90 plus percent success rate that can be self-adopted or adopted with Medical Care is appropriate it costs fairly little individually and collectively the economics are fabulous Mark Cuban maybe even more Cuban from Shark Tank and a runecant who’s an investor who’s an investor in Alibaba and SpaceX and Tesla and you know a lot of the players out there have both I know they put about 200 million dollars of investment into your company what are they salivating over I know they put 200 about 200 million dollars into your company tell me Steve what are they celebrating over wow this is really incredible high pressure test questioning isn’t it it’s it’s as if this is a paid performance now I’m just going to tell you we’re just going to have a look in a moment we’re just going to have a look down at the okay we’re going to go down and we’ll have a look at the YouTube release date watch this date watch this date okay well two things one is we have Partners investors such as Mark Andrew as you mentioned who are number one socially aware unconscious who doesn’t want to change the world you talk about impacting investing today what Twitter impact do you have then dramatically changing the ability to cure and care right so Savvy investors and Savvy partners are very devoted to that for every good reason number two good old economics namely One Market bidder faster going with more Global implications than the market for health there is none and so from a standpoint of creating an opportunity to an ecosystem to have a winning platform or win Platforms in the marketplace there’s none better and just finally before we go to the audience um we’ve had Hospital Folks up here pharmaceutical firms uh Patient Advocates just you know just every you know insurance plan what do you need from them for what you’re doing what do you need as far as the ecosystem to shift and Make Way for what you’re going to do or are you going to compete with all of them well on one hand we need nothing um other than probably awareness I mean that’s not a negative it’s just that um uh that the path to writing strong adoption of winning platform to Marketplace is paved through the path of least resistance and least levels of permission so this is not permission based we’re going to do this we certainly encourage others to do this because this is something that has to be done successfully in the marketplace in the world and I think this is one of those moments where people are generally where they say it or not they’re fed off this distrust of Science and distrust of medicine um and destructive medical and health isn’t because I think the collective wave use these all bad people it’s just there’s clearly that sense of this is just not working it’s not because it isn’t and whenever we can again look at themselves and say in every other fast in my life Everything Has Changed except my health or our health or curing so that’s why we have this societal issue that is global not just in the U.S now what do we need we just need people to think this is a great idea um and be part of it or cooperate in whatever way makes sense and at minimum take this vision of the future and Pull It Forward expect of yourself and anybody that you’re with and any institution you’re part of and say if this doesn’t happen in 10 years we have totally made a mistake don’t let it be acceptable in 10 years everything should have changed in 40 years um everything should have gone from the inconceivable to the indispensable in this phase of your life let me make a deal did you note that date 2nd of July 2019 note that date don’t forget that date now we’re going to go over and have a look at uh this timeline other people here will we might end this examination and we’ll just put this uh Excel spreadsheet up onto our website dcpartners.solutions slash podcast and look at uh season two episode two part two and you’ll find all the people that are sucking on the teat of Nano Global there’s there’s plenty of them and we’ve listed a we’ve listed them all here uh there’s more and more excuse me same or squadalupe they seem to be in here from you know plenty all the time a signpost is in there every month for you know um 36 000. anyway there’s lots going on and keep in mind our ruin was uh pressuring uh to close the family and friends around while they’re still issuing um inventable nights a little bit later you know through September so there’s four and a half million raised there in that uh in that period and another three million in October it’s it certainly does make you wonder and you know more money goes out to all sorts associated with paper masks then we’ll have a look at it at a um

uh some sort of board paper uh talking about uh managing conflicts and so on I wrote Aaron sorry I’m not sorry Ron Aaron uh he’s there uh taking 20 grand you know Steve’s taking this you know 40 Grand here Beyond benefits trust that’s that’s an interesting one who are they parent again it’s it’s a never-ending uh well the music does eventually stop the music does stop but we’re told we’re always told we’re always told by a run and I will say this apparently apparently uh a ruins company provided on top of all this a runs company provided one Nano company or a paper Master alone okay well we’ve just had a look at um a very detailed look at those transactions and we’ve looked at an interview with Clemens we’re just going to go and have a look at one of the very early uh conversations again where Aaron Kant is holding out that he’s an expert in these early stage Investments and let’s still kick this off we’ve got Steve and master he’s the CEO of Nana Vision now Steve has a reminder last year’s career actually serial entrepreneur who’s been advised to the president of the United States of two terms uh George Bush in the White House and co-chairs of presidents Council of advisors on science technology and next to him is Aaron County he’s the chief executive officer uh with the only Hill Capital um and I think it’s actually invested in PayPal back in the day and SpaceX so clearly people who know what they’re doing except for these early stage Investments okay so clearly people who know what they’re doing with these early stage Investments now you heard it um now you heard it uh and you saw that I need to be aware Stephen Clemson or Steve Clemson maybe he knows what maybe it was a Pinocchio moment and uh he had to fling back because you know some body part was growing as he was talking but Clemson said Mark Cuban many of you know Matt Cuban from Shark Tank and a a real [ __ ] or Aaron [ __ ] however you say it uh who is an investor in SpaceX and uh Tesla Alibaba SpaceX and Tesla and lots of other players out there I know they’ve put now I know this is what he said Clemson said I know that they have put about 200 million of investment into your company I know that’s what that’s what Clemson said how does he know Clemens Clemens Clements pardon me how does Clements know how does he know that these people have put 200 million dollars in now this again we point out this video is recorded on the 2nd of July 2019. Clement says I know they’ve put about 200 million dollars of investment into your company Steve isn’t that right isn’t that right no it’s not right it’s a fat lie it is a fat lie okay well we’ve had a good look at these transactions uh let’s come back to the timeline now and we’ll have a look at uh one more person well worth a few more people really but we’re going to go to our next person which is Henry lagia and some of the things that this gentleman said and uh Henry lagia is the um CEO and founder of company called Reliant immune Diagnostics who Steve papermaster and aronen card um I say that very confidently I run can’t or if not everyone can’t someone at a Leoni or Capital did actually try to purchase this company uh Reliant immune Diagnostics it’s a United States company let’s have a look at this email with um Henry okay so by way of some background here uh I’m going to show you a series of documents relating to Henry lagia now I just want to be crystal clear I think Henry is uh blameless okay he’s he looks really really good in uh this entire mess um Nano did circulate uh documents uh talking about a 300 million post money valuation and a 55 million dollar Institutional Investor um offering now this is slightly different to the cap sheet that I showed you earlier whether I’m talking about a 500 million dollar um post money uh valuation but Leoni Hill capital is still shown in here so um it’s uh the role of leonie Hill capital is very important and you’ll see in a in an email I’m going to show you from uh their CEO Aaron Kant or uh that um if that’s his pronunciation uh that Leone Hill Capital claim that the reason uh a key reason they pulled out was that Henry’s company didn’t sign on now keep in mind um Aaron also wrote and denied that he told people to invest yet he told our investors he wasn’t he was committed we’re going to see a bit of Double Dutch here from um from Mr Kant uh so again

you be the judge you be the judge uh Leone heals a 33 billion investment fund so they claim uh and hold and a holding company an early investor now um as I said in the very opening of this um in the very opening of this YouTube video uh these guys someone in Singapore someone in Singapore now that may well be leonie Hill Capital it may well be Aaron Kant or his fellow directors Bobby Lau uh through we Ming uh someone in Singapore has sought to see um uh stop the YouTube video and they’ve managed just in Singapore to stop part one of season two episode two uh they don’t want you to know well if you’re in Singapore and I guess maybe there’s many of their investors are in Singapore uh well you’re supposed to be kept in the dark about these things uh but so the use of the funds was going to be for the integration of uh Reliant and the menu a merger between Reliant and uh Nano and this thing called MD box Henry well to come is Henry’s letter and we’ll also have a look at a excuse from Aaron about why Leone Hill didn’t proceed uh this document we’ll put it up on the website um and probably funding 50 million uh institutional family and friends offering now I’m actually told um that by about July 2020 they actually raised 64 million dollars but I only showed you a ledger of um of 20 about 20 22 21 22 million uh and that came and went uh during the year 2019. now that’s that’s a ledger and if you have other documents um and you want to tip us off go to our website dcpartners.solutionspodcast and down the bottom you should say tip or form send it in uh I’d love to read it so this is a this is an interesting document um and it says what it says uh the next one we’re going to have a look at is I did mention about all the money that um Steve was taking and paying to his related party company so he provided this management guidance statement um and they claim they claim and I said it was a good thing that they were getting legal advice well they claim that uh they had legal advice and guidance was obtained from Ernst young Parthenon ey’s Life Sciences team Capital markets team Jones day now we could see some evidence that they had uh paid 50 something thousand from memory to um Jones day and and other firms uh keeping in mind paper Master claims to be a public policy expert um worked in the white house for eight years personal personal advisor to George W bush well I spent a lot of money on guidance and advisors and you can um total this up again in on our website dcpartners.solution podcast you can find season two episode two part two this this video and uh the page relating to it and a transcript of this video and all the attachments that we’ve talked about they’re all on that particular page next document we’re going to go to a email that was sent in early in March of 2020 and it was sent to a real or a rune however you pronounce it and so we’re going to read this from the bottom up March the 27th and uh and we’ll see what Aruna has said and what he says now we’ll just refresh ourselves and uh dear run my company invested two million dollars in Nano introduced to us by Steve papermaster you sent me an email on the 4th of August indicating you were committed so the principle of this victim company has written and said well they understand what they understood from what Ariel wrote was that and the Real’s words were that we’re committed we are committed and to the effect that it was in good shape and very disruptive very disruptive uh with six thousand dollars of sales to uh Amazon and that’s about it uh a real road but uh this company was very disruptive um and a real I said that he was going to invest eight million dollars according to that cap sheet now the cap sheet all of that is on our website dcpartners.solution podcast and go to season two episode two part two um and since that time so I’m just going back to reading this email since that time uh you said that you were committed to Nano and on the strength of your reputation as a three billion dollar fund um and someone with an MBA it’s from Stanford and all the rest and you’re signed term sheet where in the same terms in the signed term sheet Ariel said that he would consent to being a director of the company and being on the board and investing eight million US dollars plus bring 10 cent and buy due and Alibaba now we’re going to see this name Alibaba as well and then there was another company they claimed that they’d bring along called tpg ah on the strength on the strength of your reputation and sign termship we made the investment that’s the victim company since that time we were assured everything was proceeding as planned and was in order however we’re unable to get requested information and uh the um convertible notes that were subscribed to for two million dollars uh the day after a real or a rune said that they were committed at the very very next morning uh the two million dollars was sent off um so that’s a very direct Reliance um I’ve lost my train of thought uh oh yes those those convertible notes were due and payable in September and a real as I told you agreed he was advising the board I showed you Australian corporations law and that that would constitute if if the board is um the board tends to accept your recommendations on an ongoing basis whether you are an investor this is under Australian law now this company is incorporated under Delaware law in the United States I can’t tell you what Delaware law says but in Australia if a company was um taking your advice and and continued to you know take your advice in a real put in writing to the author of this email that yes that’s true he had pressed paper master and he had pressed the company you know to close off this family and friends round um and but he was delighted to take my investors uh two million dollars well if you are someone in that uh that was giving that advice and the board’s taking your advice you’re treated as being an a director and uh you would be liable if you raised two million dollars that you knew you couldn’t pay back in September or you didn’t have a real you didn’t have I mean um if you didn’t have a proper basis for accepting that then you could be personally responsible as a director whether you’re on the register of directors whether you’re listed with the company regulator you could be liable as a director yourself for trading that company at a time when it could not meet its obligations as and when they felt you and so on that very very date a real say that the company was in good shape we showed you the Ledger that states that that company had negative 18 000 in the bank it couldn’t pay its payroll unless paper Master put in a quarter of a million dollars which he had done just one or two days prior so a real ought to have been or a rune ought to have been very very careful very careful in making that statement that leony Hill Capital was committed and he wrote as we said he wrote that you yeah we are committed but they were his words we are committed and the company is in good shape and very disruptive those were his words so um the investor then goes on I’ll continue reading this um I would appreciate if you could give me a confidential understanding as to what you know about the company and your status with it as an investor and Lead investor I look forward to your reply regards the investor so this is what was the response the the email left at uh in the morning of the 27th and a reply came back in the afternoon about 12 hours later uh Aaron can’t uh to uh investor uh because if not able yeah again I apologize it sounds stunted but I don’t think English is arun’s first language because of not able to get financial details on a murder deal so this is why he’s saying he’s sitting the same that this merger deal with Henry Gear’s company MD box or Reliant because we could not get financial details on a merger deal with MD box our team could not move forward that’s Leoni Hill capitals team couldn’t move forward so it’s saying that this merger deal was critical that’s what it’s saying it is saying now I could take you back to the and I’ll include below uh I hope I’ll include include above my shoulder here what Aaron wrote to the same investor on I think the 4th of August he doesn’t say we’re committed if a merger deal with MD box and Reliance goes ahead he doesn’t say that he said he writes we are committed so six months later in the 27th of March he says because of not able to get financial details now they sound like weasel words to me but because they’re not being able to get financial details on a mode to deal with MD box our team could not move forward now that doesn’t mean we’re not committed

he’s saying because there was no merger then no moving forward now I’ll come back to this email in just a moment I’ll show you a text message from Ariel to me personally and this is on the 6th of October at 4 50 PM down with coven all right okay rest up when you’re better have a look at this short personal video I did for you which I send I’ve cut it off cut it off this is how a Real’s mind works so if you get anything from him saying you’re committed and I talked about weasel words he write back committed does not mean invested

so we are committed he right we’re committed well he’s saying he’s now saying on the 6th of October oh hang on committed doesn’t does not mean we invest it well pardon me are real but what the [ __ ] does committed me

if he was with us should have put condition we he will only invest when we invest well actually yeah that’s what he’s his advice now is that my whale should have only invested if we invested yet my whale only proceeded only proceeded when a real did say we are committed we are committed now I’m gonna get the English dictionary out and we’re going to see what the word committed means but apparently in in Ariel’s mind commit it does not mean we invested [Music]

and then he says look you were trying to shake meat you’re trying to shake me down when real bad actors are different please go and get uh paper master and the others don’t try and shake me down so let’s I’m just going to pause and I’ll bring up the English dictionary and we’ll discuss what committed means

well here’s the definition we get by Googling the word committed committed pledged or bound to a certain course or policy dedicated a committed environmental app

commit past tense committed so I commit is current tense committed is past tense we are committed past tense hello

pledge or bind to a certain course of policy

this is fine so coming back to our email

because I’m not able to get the merger deal we could not move forward then virus came now this is a virus company this is nanoq cures the cure for curing they claim to have a um we showed in season two episode one the video of Steve papermaster saying we’ve got a treatment for covert then but a real writes uh then virus came along and my team is now scattered in different directions and not able to proceed with the deal well uh covert ought to have been the opportunity of Lifetime for a company like Nano cures and instead um it’s now the excuse um a Healthcare Company can’t make money in a pandemic um we don’t we do not know current status of company and last update we had was in January I will keep you uh I’ll keep your details with me and if I get any details we’ll forward them to you oh thanks what a Cooperative person looking forward to meeting you again um I’ve heard a lot about you uh the while this is uh from investment circles regards are real

and we’ll have a look at a couple of other documents this is a document that was circulated again well according to a real they cease to be involved according to a real the last details they had was in January which I presume means January 2020. a real um so then I was giving out information I don’t know the date of this I I don’t have it I don’t have it but Steve says that he’s a world world renowned entrepreneur and includes photos with Henry lagia Henry’s president and chief medical officer at Nano Henry is President and chief medical officer at Nano founder and CEO of Reliant immune Diagnostics so I read this and I thought well wow I’ll have to give the I’ll have to contact the uh chief medical officer at Nano um but there’s no answer on the Nano phone number so I just I just email uh our mate Mr lagia now we’ll have a look at a couple of other documents

I’ll throw this in just for good measure um Steve uh did get sued um Steve and his company app economy got sued for 6.25 6.5 million dollars and a judge Steve’s company tried uh a Texas Texas federal judge rejected an attempt to throw out Securities fraud case against Steve’s company and so Steve’s company economy was sued by mizito based on what turned out to be fraudulent misrepresentations by the company founder papermaster and majeski and I apologize to Majewski if I’ve mispronounced that Brian G majorski these were fraudulent misrepresentations according to judge Lee yakul yakul again I apologize if I mispronounce that mozito claimed it relied on economy’s claims that it that it received a one billion dollar acquisition offer from Online Marketplace oh look at that Aaron kantz uh investor Alibaba Alibaba now this is 2017. this is that the law that the case was thrown out and if you want to know more about this just Google mozito this company here and uh and paper master and you’ll find a link on DC partners.solutions to the Judgment um and it’s not very complementary but we’ll have a look at this name here Steve snarkulis I don’t know if I’ve pronounced that correct Steve of Kane Ops not snorkel this is scandulus scandalous my apologies uh he acts not cool at them it’s not new

Scott newless acts for paper master and you’ll see that this name scandulis comes up one more time just very recently so have a look now at something a real Road and then we’ll go to the Henry gligia document this is something that a real wrote to me on the 28th of September thank you for your email I am not offended and I want to set the record straight now this is a person that on the 28th of September wanted to set the record straight but now is going to YouTube and asking to censor uh ask him to censor uh videos because he doesn’t like the straightening of the record although at one time he didn’t want to set the record straight the fact is U.S investors like Matt W and others were told by us we are not investing and the whole situation is bad they did not have product or proper accounting to show where funds went

you cannot throw us under the bus just because Steve mentioned something without our permission now this is a person Steve mentioned something without our permission yet uh Ariel writes to my whale and says we are committed please were his own words we are committed so that is not talking to Steve or being mentioned without their permission not how I see it again I may have a different view of the English language I showed you what the word committed means um a real as I said he he may have a different interpretation of being English language but he does seem to say that he does suggest that he can read a bit of English because he says he believed what Ernst young Singapore said so precisely a Real’s con comprehension of the English language I can’t really tell you um but he he did write I’m glad to help your client my well with regard to Steve because that is the right thing to do well yeah and that is why we contacted you and not just ignored the mess that Steve had created and then he says he was surprised that he left that I’d let down a few people so okay now this is kind of interesting I’ll I’ll go down uh I’ll skip this paragraph here and I’ll just go down a little bit further we did give a bridge loan and we will come back to this paragraph above in a moment we did give a bridge line but stopped when we could not get accounting data now I have included down below the Excel spreadsheet uh Ledger and I couldn’t find anywhere I could not find anywhere any evidence of a bridge loan we couldn’t find any evidence now I don’t know when this uh bridge line was apparently to occur but um I’m sending this uh today is actually the 26th of December I am actually sending this to a real and giving him the opportunity he said at the start of this email he wants to set the record straight we want to set the record straight okay a real if you want to set the record straight and and you have evidence of this bridge loan and you can show that this Ledger that I’ve gone through at Great length lengths is false then give us what documents you’ve got and we’ll publish them and you can set the record straight um and he says that uh he replies we want open and honest dialogue well come on tell us about Steve Clemens tell us about the interviews uh there was what’s called a fireside chat that Steve Clemens in a video that’s nowhere to be seen it was a fireside chat between Clemens paper master and a real [ __ ] and we’d love to see that we would love to see that a real right we would like uh we we like people like you we like people like me except now 26th of December he wants to silence those and censor those but on the 28th of September he did like people like me who help companies like us to get out frauds and unfortunately we did not know you before well you know me now we’re real and there’s his phone number if you if you wish to make contact uh with a real uh he’s there so let’s go up to this paragraph

we want people like you to bring both sides together and facts and make sure this does not happen again with people like Steve that’s right so people like Steve Well I wonder if a real is someone that’s like Steve in some ways I don’t know I would like to know and I’d like to give Steve sorry I’d like to give Leone Hill Capital the chance to have their say we do make mistakes yes we are human but we do not cheat okay all right so they do say that they’re committed they say that they’re right they write that they we are committed and the company’s in good shape

now he’s he’s the real gist your investor if he was in contact with us if he was now I’ve shown you the email of the 4th of August of 2019. a realist writing if your investor he your investor if he was in contact he should have invested only if cap table showed we invested so the cap table did show that he invested and not only that Mr can’t a real [ __ ] wrote and said we are committed past tense we are committed

not many words there we ah committed three words three words well a real advice here your investor If he if he was in contact with us which he was should only have invested which he did the very next day if cat table showed we invested and it did it did show that and not only that but a real wrote and said we are committed

if we were in touch with him he should have asked us so gang following a real recommendation here that’s exactly what uh my while did he asked us he was in contact and he did ask and he received an acknowledgment in writing that was clearly clearly false we were we are committed a real road we are committed

so that’s what a rail writes and says um was the proper process and that’s exactly what my wild did we were LED investors for round one and as per proper protocol other investors should have invested only with us

we are committed next day money outlaid so I think we’re correct here so now let’s go to Henry’s you know I I mentioned but Henry is shown here as the chief medical officer at Nano founder here’s the Advisory Board cast of thousands the go to market pricing the the model the financial updates operating model pre Series 2 funding

leonie Hill strongly supportive throughout available as backstock direct Affiliates closed circle of investors that was to provide two quarters two quarters two to three years of liquidity fourth quarter fourth quarter of 2019 uh so early 2020 Target Reliance Reliant merger

and close of the series two leonie Hill pardon me 30 million dollar plus funding now again nowhere absolutely nowhere Department absolutely nowhere did a real cart and Leoni Hill Capital say that their involvement was conditional on a merger with

relied and MD box nowhere nowhere at the time of August at the time of um him personally a real card personally procuring my whales of 2 million US dollar investment nowhere nowhere does it within the words we are committed does he say that our commitment is an uncommitment or it’s conditional upon Reliant emerging yet 27th of March a real rewrites history and says because of not being able to get financial details on a merger deal our team could not move forward he just simply wrote We are committed

so let’s now look at correspondence with Henry lagia of Reliant immune Diagnostics and we’ll go right to the bottom and we’ll work we’ll work from the bottom up so I write to them and say you look one of our investors has lost a bunch of money here are two documents that um two documents and then our investor summary and we which I think I have shown you here that’s it 1.29 1.29 this is the document and then there’s the investor summary 1.29 so I think that might mean generally 2020 that is 29th of January 2020. so I set the 29th of January 2020.

that’s my best guess at what this document when it’s dated so I send both of these and I say to Dr Ventura he doesn’t respond Henry Olivia III the managing director of Reliant and again I stress good guy truthful guy he’s given us the response I’m I’m Vlogging about what I believe is a shonky firm run by Steve Pass papermaster his track record is dubious questions does Nano own any of Reliant I didn’t know ever have an agreement to buy Reliant did Nano have an agreement to merge with Reliant attached to some documents which I did send them did rely on ever license its IP to Nano um did it say you could refer to its Reliance IPS being Nano MD in other words for it to be did you license your IP how many active subscribers does Reliant have do you have any comments about the documents are they accurate did the transactions proceed was the transaction never going to proceed so let’s let’s

get a reply I from Henry I’m the founder CEO I’m glad that someone is looking into Steve P paper master and some of his invited I had I and some of it my advisors during our due diligence she had suspicions about his claims to not technology that seemed Beyond current science Money in the Bank now again none of this was a condition of a real saying we are committed he was he was committed whether there was this merger or not and so uh the merger partner Henry and Reliant said they were suspicious about the money in the bank additional additionally several of his disgruntled investors approached us during the diligence process and encouraged us not to proceed with any form of partnership JV or path to merger not even to proceed with a path to merger I’ve not seen the documents you referred to uh please send so I can review but I can say so I actually sent those to Dr Joseph Jose Ventura one of my biggest comments uh one of his colleagues we did meet with a group of investors who came to Austin and Steve presented us that he had secured 100 million dollars in funding and wanted us to present to his investors so that he could convince them that Nano should make a formal offer to Reliant to merge or JV at no time were any agreements finalized so it’s a bit Rich for a reel to say as a real says a real says that we didn’t proceed with the merger there was never any merger to proceed with according to Henry here had no time at no time at no time were any agreements formalized we discontinued talks during our due diligence to be to being far apart on relative valuations and because he which I presume that means papermaster failed to adequately answer our questions regarding his financials or show that he was he was already funded as he purported

at no time was there a merger so this is utter fraud utter fraud to say that there’s a merger under the use of the funds would be uh but Leoni Hill were the co-leads and the integration of MD box merger and that Henry would be the was post the closing that the Henry would be the chief medical officer and president complete fraud

again we are committed doesn’t mean this is contingent on this merger so let’s go back and continue this correspondence so I I report these questions to Henry who’s being very Cooperative at this point this is the 10th of August Dear Henry attaches some some material paper Master used to raise at least 50 million US dollars I understand at 64. so in summary you’re saying there was never any written agreement in place between Reliant and Nano to merge so um

and then I ask a series of questions did Nano have an agreement with HEB that’s a it’s a large um see who HEB is we’ll go back up here and we’ll have a look at Nano’s presentation they claim that they had a strategic partnership with Walmart and HEB and others

so they claim that they had a distribution business with live in 79 locations expanding to 275 in the first quarter of 2020. so my email was was did they have an agreement I don’t know if you did or did not we Reliant did at that time and it’s likely he was using our contacts our contracts to raise against so that sounds like a fraud to me there was never any agreements between Nano and HEB maybe that’s what did Nano have an app with 23 000 survive the subscribers survivors nice did they I don’t know I don’t know if he did or did not he had his own app and we were not impressed with it it was subscription-based our platform was not so that may be true

I think it might not have been true because their sales were 6 000 a month so they might have had 23 000 but perhaps they were unpaid because it wasn’t included in the 6000 of sales to included nowhere on the Excel spreadsheet now if you can find it if you can find it on the Excel spreadsheet for 2019 keeping in mind that this merger was supposed to happen in the first quarter of 2020 then if you can find it please send me a message using our tip of form below on dcpartners.solution podcast send me the message I’d love to know

the gear goes on we have many users but our payment structure is largely payment per visit or encounter we have one or two Partnerships that are subscription based I don’t believe we had any at that time are the pro forma financials similar to those presented by Reliance Sorry by Nano to Reliant uh Henry says I’ve never seen that deck or those projections our performer is very different okay that model seems to be his subscription model

I’m just going to pause and I’ll take you through to that model now

all right now this is further in this document uh about Nano MD and I’ll just take you to the previous page Nano MD so we’re talking about Pages 17 18 and on it talks about the Nano MD and app and here’s the content and Community now again papermaster says in this document they have 23 active 23 000 active subscribers active subscribe doesn’t say paid does not say paid fair enough so but according to this 23 000 active subscribers and they’ve got a community apparently and a suite of uh patents and again here’s Henry legere so this is the slide that we started at and I believe that is a photo of Henry um the board of advisors and Nano uh the financial update and Leoni Hill Capital allegedly is still over here so back to these replies 0.3 no uh leggear’s never seen those Pro former financials

these ProForm financials so these are a series of performer financials and ligi has never seen those okay but legia also hasn’t conducted due diligence point four are other financials actually Reliance financials or similar same as above so I think he’s he’s saying no they won’t be impressed I think that means the financials are not well ours are very different our performance is very different so I think that’s what he means same is about did Leoni Hill 0.5 did Leoni Hill ever meet with Reliance yes as above that is primarily the reason we walked away from the deal Steve told us Leoni Hill previously funded him which seemed to be true however he showed us a term sheet for them to fund a much larger Round leony Hill didn’t seem interested in actually funding that amount and Steve could not produce any evidence of further funding to satisfy our due diligence requests now I’m going to talk a little bit more below about a reel and Leoni Hill capital is there such a product as MD a nanomd I don’t know they haven’t happened but it seemed focused on patient consumer engagement MD box would become the backbone if we did the deal foreign do the advisors page for actually advise Nano yes so let’s have a look at page 24. these advisors does Mark Cuban does Bob get Medcalf do these people actually advise well according to Henry yes uh I met a few I met many yeah I met many and a few also advised me not to do the deal oh poor Stevie did

did you authorize your image to be used no does Nana have any patents he claimed they did around three products in the day I didn’t I did see I think he wanted to acquire our patent portfolio that was something he spoke about frequently but I never had any insight as to why others than we have an impressive differentiated and so it goes on now I think we should I think we should read this last one

this last correspondence and we’ll end with some bits and pieces about Leoni Hill capital uh did he actually raise 50 million this is Henry to me did he actually raise if so I’m shocked because we would have considered actually accepting the merger offer he would have sold I’ve never I was never shown these materials so I definitely did not sign off on him using those materials to raise money now this is these materials I understand them were used after after my whales put money in during the time Leone Hill Capital said that they were still committed and before a rail right back and said oh I didn’t we didn’t proceed because there was no merger he told us previously on the order of several years ago he raised 50 million uh so several years from now ago and that leonie hill was putting in fresh Capital something like 70 to 90 million after a series of meetings we discussed an initial and initial we discussed an initial framework for merging our firms not not actually a merger just to framework and several other things agreeing agreeing on relative valuations doing Financial due diligence to prove the claims he was making on the status of his funding to support our expansion and getting our shareholder approval the framework did involve me as president and chief medical officer so at that time that papermaster published this there was an agreement to a framework framework only yet paper Masters publishing these documents and saying we only heal capital is in their lead investors blah blah blah and we’re going to use the funds for merger it’s pretty clear you’re saying there was never any that there was never any formal agreement never any formal agreement the framework did involve yes we’ve reread that Steve produced a term sheet from leonie Hill possibly the one I’ve got but he never showed us his bank account well you the viewer are reading and able to see the bank Ledges that I got which show how I use the money now Henry writes I I met someone I can’t remember his name so maybe it was a real [ __ ] I don’t know uh who is supposed to lead the principal at lagani Hill so Henry met the principal at Leoni Hill and there’s only three of them so it’s either Bobby Lauer Ming or it’s a real [ __ ] and he met the principal and he said the principal said he’d rather invest directly in our company than put money into Steve’s so that’s very interesting which was a major red flag now it would have been a red flag if a real [ __ ] had written back and said well we’re uncommitted instead a while received an email in writing from a real saying we were committed so I’ll go back to my Wales text message here my my miles email my company invested two million uh you sent us an email on the fourth of August indicating you were committed that’s what it says I really use the words we are committed yet this is a red flag would rather not be uh we’d rather not invest thanks very much in paper Masters company I think we’re getting to the the real point a real if well but Leone Hill capital

can’t be trusted they can’t be trusted at that point we insisted so at that point where leonie Hill says well I think we’d rather invest in Reliant than paper Master at that point Reliant insisted that Steve show us his financials and bank balance which he refused for unclear reasons it was enough for us to pull out of negotiations

so I think we’re getting to the bottom of this about why what just how committed leonie Hill Capital was

I’m just going to take you to one more document one more document about Leoni Hill capital the Only Hell Captain there this is a uh a website you can just go to unicorn Google unicort and go in there and Google leonie Hill capital and my company name now I as at today’s 26th of December 20. 22. as of today I’ve not been served a writ in any Court in the U.S District Court have not I I say so but but I did search this and I did I did like hate this record someone told me someone told me and I the word that I had a great deal of trouble pronouncing a little while ago we’re going to see in a moment which was Steve’s lawyer Steve’s lawyer if you remember let’s go back and we’ll have a look at this Steve’s lawyer was a guy called Steve scanulus of Kane and scanulus PP P LLC representing app climbing now apkimi was attempting to throw out a Securities fraud case against it but judge League

um uh found that based on what turned out to be fraudulent misrepresentations by papermaster and Brian G Majewski um he refused an attempt he rejected an attempt to throw out the fraud case so in other words he said well yeah there was a misleading thing and later on um there’s further judgments and if you want to know more about that and I mentioned that uh the fraud was the the fraud masito claimed it relied on the paper Masters company that it had received so it’s a bit like he had received we are committed I can see some parallels here I also see the word Alibaba it claims it had received a one billion acquisition from an online Marketplace called Alibaba now the encapsulate which you can see on our website partners.solutions slash podcast season two episode two part two you’ll see that um you’ll see that capture Alibaba is named along with 10 cent Baidu and Leoni Hill Capital as lead investors and and investors so I’m seeing little red flags here I’m seeing them well Leone Hill Capital apparently apparently has filed something and this is a case summary that anyone anywhere in the world can go onto unicort just Google Unicode and type in leonie Hill this DC Partners Solutions proprietary Limited at all and I’ll show you the names of all the parties and apparently these are the case particulars uh apparently on the 6th of December 2022 there’s a case status that’s pinned in the U.S and district courts in the western districts the Texas Western District Court and the party names apparently the party names are Leoni Hill Capital private limited that’s a Singapore company and the defendants are my company and me and me and let’s have a look at who the uh the attorney is and the plaintiff’s attorney is none other than State paper Masters uh attorney and economies attorney it’s this Stephen Bradley scanulis of Kane and scandalous I’m sorry that’s a terribly difficult name to pronounce but Kane and Star Noodles is apparently according to this search representing Aaron Kant and his company we only heal capital I have not been served and I can’t tell you but there’s apparently there’s a main document that if I cared to download it I could download it if anyone wants to download it and send it to me I can’t be bothered and this is utter BS and I would rely on the truth but uh it’s just curious that according to this search is acting the same way that has actin for papermaster he’s apparently acting now for the only Hill Capital private Limited

yet if you go back to correspondence that paper master that Arun can’t sends people he says uh thank you I’m not offended we want to set the record straight we wish we like people like you who help companies like us get out frauds and and unfortunately we did not know you before well and we want honest and open dialogue and we’ll do the same and help so it’s It’s Curious that um a real [ __ ] and uh the only Hill Capital are now no longer interested in open and honest dialogue but apparently they want to go suing people in the district court of West Texas and uh well see I haven’t been served I may never be served if I am served well I may well just publish all these allegations but I I do publish and again I’ll put I’ll put up here the uh YouTube as a sort of sensor at the request of someone in Singapore and Leoni Hill capital is a Singaporean company they’ve sought to censor my YouTube videos so you be the judge whether someone in Singapore well what an epic what an epic epic story what an epic story uh We’ve touched on a lot I told you it was going to be dense I told you it was going to be uh Technical and forensic and uh I didn’t lie uh what we can conclude is this is a wrap up to this episode what we can conclude is that uh Arun or a real uh new paper master from uh at least January 2019 onwards uh he may it would be very very interesting uh the mosito manner it talks about uh a fake or a budget Alibaba letter of offer a letter of comfort alleging that um paper Masters papermaster had received a one billion dollar offer from Alibaba and that name comes up again in the situation uh the investor is told that Alibaba 10 sent Baidu and um tpg are investing along with Leoni Hill Capital uh some

um 8 million to Leone Hill Capital four million to each of 10 cent Baidu uh tpg and Alibaba it’s uh we know that um Aaron cadd knew paper master from at least January 2019. uh

Aaron can ought to have known I apologize this type of mistake here Aaron can’t ought to have known that Nano Global was not in good shape it was arguably insolvent uh he was throughout the period well as long as it kept raising money as long as it kept raising money it could keep spending it but uh its survival was dependent on raising money uh he told investors in writing no matter what he now says no matter what he now says he told investors in writing in August of 2019 that leonie Hill Capital was committed we are committed we are committed uh so that um to investing that is in Nano um and circulated and stood by as this cap shape was circulated saying that they would invest eight million dollars 10 cent Baidu tpg and Alibaba would each invest four million bucks the truth is Leoni Hill Capital was uncommitted yet they told investors that to come and join two come and join to come and join and that Nano was in good shape very disruptive Nano was actually overdrawn and was far from disruptive it had [ __ ] all sales to Amazon of about 6 000 a month about six thousand a month whether it had 23 000 active uh subscribers is remains to be seen who knows who knows but there’s no evidence on the bank Ledges that we’ve been provided that any of these were paying any of these 23 000 were paying anything material at the time on a monthly basis so it’s certainly not recorded on the uh Bank Ledges that we’ve been provided and that we update on and that we upload and that you can find links to on our website dcpartners.solutions slash podcast uh leonie Hill Capital uh said that they were committed they later they later took the position that uh their involvement was subject was conditional was conditional upon Nano buying this business called owned by Henry Ligia called MD box enter like here an MD box did not want to be involved in the transaction with Nano global someone someone apparently the principal from leonie Hill Capital actually wished to buy MD box and not invest at all according to Mr lagia not invest at all inanna yet six months earlier four months five months however many months we don’t know the exact timeline but we do know that it was at an earlier date Aaron Kent himself wrote that we are committed we are committed to investing circulated this cap sheet and procured induced investors to put in millions of dollars also sent around circulated himself writing emails kind of unusual on a Sunday night sending emails to investors on a Sunday night at a time when this company was Cactus Nano when Nano was Cactus and Arun had agreed to be a director of Nano and was doing all the things that you would expect a director to do taking positions issuing capital and according to Steve papermaster which Arun confirmed himself he pushed the board to make decisions to cease fundraising under these notes these convertible notes and papermaster indicated in writing that the board was likely to accept the instructions and wishes of paper of Aaron cam an unelected board member but one that nevertheless had agreed to become a board director so someone that was unofficially a board director Aaron can’t May well be personally liable May well be personally liable for the debts that the company accumulated During the period

most probably most probably from about the second of Eight Second of August 2019 perhaps until as late as March of 2020 perhaps maybe a little earlier but perhaps as late we’ve got conflicting documents there are many other documents that I have not listed I’ve taken you through some very forensically we’ve had a look at the bank statements there was a cast of thousands writing the bank accounts of Nano plundering this money that was being given to it at the request of aruncant and paper Master millions and millions of dollars of serious investors money and these cast of thousands were plundering plundering plundering huge dollars half a million dollars a month just in wages alone

Aaron now writes and asked to correct the record he now writes and says he never told he told investors he told some investors not to invest and he says that

well I’ll just leave it to that he says that he he writes he writes in September of this year 2020 he writes that he told investors not to invest

he sets out a procedure that my investor my wow ought to have followed my investor actually did follow that that same procedure

I believe Aaron and leonie Hill Capital are personally liable for the statements that they made and induced and the Damage that they caused to individual investors and may be liable to a class action claim for their conduct as director as a director and unelected but nevertheless someone that agreed to act as a director someone that was giving instructions to the board and someone who the board listened to and and um adopted governance decisions in accordance with those wishes Aaron Once Upon a Time wanted to correct the record Aaron didn’t like my blog but believed that he wished to make comments on the record Aaron seems to have either a faulting memory or is telling certain untruths Aaron’s judgment is questionable Aaron’s previously sought to comment on the record now apparently there is a a writ coming from a court in Texas to my company and to myself I have heard in writing allegations that I have extorted or attempted to extort money from Leoni Hill capital and Aaron Kent I’ve also received correspondence from YouTube uh saying that

complaints have been made that defamatory statements have were included in season two episode two season two episode two cannot be viewed in Singapore without using a VPN and picking it up from any other country if you’re an investor in Singapore and you wish to know the content of this Blog then we will publish under season two episode two part one and part two we will publish the transcript if you wish to watch the Youtube video season two episode two part one you may need but we’re currently we’re currently blocked we’re Geo blocked by YouTube if you wish to watch watch that episode you may have to use a VPN and watch from another country part three of episode two is being considered so watch this space my name is Mark Smith I hope you’ve enjoyed the episode I’m sorry it was so dense so forensic so technical it was interesting to make it was very very lengthy to make these podcasts take a very very long time but these are things that some people don’t wish you don’t know enjoy if you’ve got any tip-offs write to us at dcpartners.solutions slash podcast and use the tip before you can send documents you can send multiple documents he can write you can email you can instant chat with us you can ring us on uh on how Australian number one three hundred three two seven one two three or plus six one one three hundred three two seven one two three my name’s Mark Smith if you’ve got any questions drop us a note on dcpartners.solution/podcast or instant chat with us anytime day or night thank you very much see you next time

foreign

[Music] [Applause]

[Music] [Applause] [Music] welcome back

[Applause] [Music] the wheels foreign [Music]

Steve Clemons, The Hill.

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner of www.dcpartners.solutions/podcast – instant message us or instant chat with us on www.dcpartners.solutions thank you.

Chapters – coming soon – 21/11/2022

Steve Papermaster / Steve Clemons
Steve Papermaster / Steve Clemons

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

Leave a Reply – nothing defamatory will be permitted, all comments moderated. Spam will not be approved.

#whoisstevepapermaster

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Leonie Hill Capital (Steve Papermaster Enabler)

arun kant - Steve Papermaster Enabler

Leonie Hill Capital has played a role in enabling alleged fraudster Steve Papermaster to raise millions of dollars …. adding a degree of authenticity and legitimacy to some of his snake oil projects – such as Nano Global – promising a cure or treatment for Covid 19 but costing investors, especially “friends and family” – multiple millions of dollars.

Company information

Company number / UEN: 200708428E

Date of incorporation: 15/5/2007

Principal activities: Hedge Fund Management (66302) & Private Equity Firm (66304)

Registered Office Address: 2 Havelock Rd, #05-22, Singapore 059763

Personnel profile

Arun Kant

Title: Chief Executive Officer / Chief Risk & Compliance Officer, Director

Profile page: https://leoniehillcapital.com/about-us/the-team/

Nationality: US Citizen

Email: [email protected]

Twitter:

Linkedin:

Phone:

Mobile: +65 97771859

Thoo Wee Meng

Title: Director

Profile page: https://leoniehillcapital.com/about-us/the-team/

Nationality: Singaporean

Email:

Twitter:

Linkedin:

Phone:

Mobile: +65

Chai Shiau Shan

Title: Director

Profile page: https://leoniehillcapital.com/about-us/the-team/

Nationality: Singaporean

Email:

Twitter:

Linkedin:

Phone:

Mobile: +65

Lau Theam Chua

Title: Director

Profile page: https://leoniehillcapital.com/about-us/the-team/

Nationality: Malaysian

Email:

Twitter:

Linkedin:

Phone:

Mobile: +65

Comments:

Arun Kant & Leonie Hill Capital covers for and advance the profile of Steve Papermaster in a manner unlike anyone else other than perhaps Steve Papermaster?

Tip-offs – have we forgotten anyone or anything?

Are you aware of other failed Papermaster companies or enablers – complete our tip-off form below, send documents, or instant chat with us. Thank you.

#whoisstevepapermaster

who is steve papermaster?
who is steve papermaster?

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Many R’s Podcast – S2E2 (Part 1) – BANNED in Singapore.

posted 21 November 2022 updated 2 January 2023

Season 2 – Episode 2 – Part 1 Many R’s Podcast

Welcome to Season 2, episode 2 (Part 1) of the Many R’s Podcast highlighting our centrefold Steve G Papermaster. This series is presented by Mark J Smith of DC Partners Solutions, Sydney, Australia.

Chapters:

0:01 – opening music

0:23 – greeting by Mark Smith – about Mark Smith & DCP Solutions

1:13 – about the Many R’s Podcast – Season 2 Recap

1:31 – Season 2 Recap – Westpac

1:47 – Season 2 Recap Phillip Crawford, NSW Casino Control Authority

2:06 – Season 2 Recap Garry Steinberg, Reliance Leasing

3:14 – Season 2 Recap Andrew Borrodell Gartrell

4:08 – Season 2 Recap Aqua Law, Ben Horne, Tim Horne

5:00 – Deep dive Steve Papermaster

5:14 – Who is Steve Papermaster

6:40 – Steve Papermaster & Ernst & Young – Entrepreneur of the Year Awards

8:37 – Who is Steve Papermaster continued

9:11 – Steve Papermaster & Arun Kant intro and representations / misrepresentations

10:10 – Who is Steve Papermaster continued including enabler

11:45 – Steve Papermaster’s cure for curing

13:35 – Steve Papermaster & Ernst & Young – Entrepreneur of the Year Awards – continued

14:34 – Arun Kant deep dive – intro and representations / misrepresentations

15:50 – Steve Papermaster & Ernst & Young – Entrepreneur of the Year Awards – continued

18:38 – about DCP Solutions interesting work / profile

20:10 – Arun Kant / Leonie Hill Capital Pte Ltd Singapore deep dive – intro and representations / misrepresentations continued

27:35 – who is Arun Kant of Leonie Hill Capital Pte Ltd?

29:06 – introduction to Season 2 Episode 2 – Part 2 – a further deep dive into Arun Kant / Leonie Hill Capital Pte Ltd, need for a forensic review of Nano Global’s bank ledgers, Henry Legere, Nano Global’s team.

37:53 credits

Transcript

S2E2 – Part 1 Transcript

Rogues Rascals Reviewables Rorts rip-offs receivers real estate agents and much much more
this is the many R’s podcast
season 2 episode 2.
well if you’ve got any questions give us a call anytime 1300-327123 or visit our website dcpartners.solutions/podcast and go to the bottom right hand corner instant message chat with us using those links in the bottom right hand corner
thanks very much
welcome, well welcome back it’s been a long time and it’s been a very weird year a very weird year indeed I’m Mark Smith from DC Partners Solutions and for those that are just tuning in we’ve had lots of lots and lots and lots of new visitors to our website throughout the year and I’ll go through some of the numbers my name is Mark Smith I’ve got an MBA I’ve got a law degree I’m based here in Sydney and spend a lot of time out in Orange in Country New South Wales I’m a member of the young lawyers although I’m not a solicitor I am a member of The Graduate Management Association of Australia the tax Institute three adult children lots and lots of life experience and we’re getting something like seven to eight thousand unique visitors per month so that’s about 2 000 a week so it’s it’s been a very very interesting year there’s also been lots of fun and games on the sidelines and so we haven’t covered everything that we had hoped to cover this year so let’s so what had we hope to cover this year Well we talked at the end of last year in season one episode eight about deep Dives that we were going to Undertake and we haven’t really gotten there this year but maybe next year or maybe season two just rolls on into season well let’s extended into 2023 it’s weird to say but it’s been a hell of a year and I’ll talk about that another time we were going to have a look at Westpac well some interesting things there we there is a lot on Westpac on on our website now dcpartners.solutions and there was quite a scandal anyway it’s quite old news but it’s interesting that one of the characters the Philip Crawford has popped up at the casino regulator and is handing out billion dollar fines to the star and the crown this year he’s had a huge year Philip girlfriend now I’m not suggesting he was well I’m suggesting he was the lawyer for Westpac that’s that’s the lot it’s he has a an interesting client Gary Steinberg well we’ve had a number of different Court issues with Gary this year and it’s been a busy year for poor old Gaza and Reliance Leasing and and their lawyer formerly my lawyer Mr Tim horn not to be confused with Mr binhorn so Tim and Ben from Ecuador we’re probably not going to talk at all about Ben well we might just come to him at the end of this page but Tim has had a busy year he was the lawyer he was my lawyer for about three years or thereabouts and then he turned up working for my opponent so Reliance Leasing and Gary Steinberg so very very interesting and it presents moral and professional dilemmas for lawyers to to then end up working for against their former clients and well watch this space Gregory John Walker 131 NVR and of course his other company MacArthur projects sadly we also talked about his other project in Gosford the Archbold project not been a good year for a Gregory John Walker we’re not going to touch on him there’s no deep Dives but look maybe later in Season Two Season Two we’re a long way behind where we hope to be Andrew bardel gartrell boy Andrew started the year his father died commiserations I don’t know whether Andrew has is a beneficiary of his father’s estate although Andrew features on this website Andrew I understand is in Australia and we missed Andrew this year we didn’t give him any thought well very little anyway he so we may come back and do some deep Dives on Andrew birdell gartrell Adam Tilley well we didn’t get to have a think about them Mahoney Law and Ralph talagaru Mo and Kumar now as far as I know moan Kumar is still in tihar prison in Delhi in India and as far as I know Ralph paligaru is still his power of attorney and Mahony Law is instructed I guess for Mohan Kumar so don’t know haven’t been checking had other things on the plate but let’s let’s come back to them later on in season two aqualor now I will just say Ben and Tim are brothers and Ben’s a lovely guy I truly truly mean that I I say that tongue-in-cheek about some other people Ben’s a nice guy but I have renewed respect for Ben he we might get into some of the circumstances he’s he’s had to be Tim’s brother I think he’s the older brother but I might be wrong um

I think Ben deserves the a medal for paint Tim’s brother this year so they don’t talk to each other from what I understand and I just wish Ben well if we don’t get to if we don’t get to

at the end of this year if we don’t get to wish Ben a happy Christmas then happy Christmas to Ben so without any further Ado we’re now going to dive in and talk about our friend Steve papermaster Steve G papermaster of Nano Global and our current current centrefold um

so who is Steves papermaster you might ask well and why why some lunatic blogger in Sydney blogging about this guy well this guy is a prize-winning confidence man shall we say steve papermaster you used to work at the White House apparently and this is an extract taken we’re going to say well who is steve well this is from a page that no longer exists it was on Ernst & Young’s website steve is the I love it when people use fancy titles like chairman or a CEO I mean wait until you see this wait until you see about this company it’s steve is someone that either is dreadfully dreadfully unlucky over and over or

will you make up your mind this is a picture of the lovely steve Papermaster he’s married to a person called Gail Papermaster apparently apparently a world-class lawyer from Austin Texas and steve managed to um

separate millions and millions of dollars from very very Discerning investors and he also managed to get himself kicked off Ernst & Young’s website since we’ve been blogging so that’s kind of interesting and if for those that think who’s this idiot blogging over in Sydney well apparently some people do watch this blog so okay so who is he he he was very heavily tied up with Ernst & Young not a partner but he was a Founder I think the term is of the Ernst & Young entrepreneur of the Year award and this is a very very prestigious promotion but Ernst and Young undertake every single year they put millions and millions of dollars into this every year and partners and branches if that’s the term around the world all get very heavily involved in promoting this and they all get together in Monaco most years now it’s been a bit different last couple of years because of covid but Stevie was it was a judge and I understand he was a founder of this of this Ernst & Young entrepreneur of the Year program so he himself was on the (judging panel) he was Judge … those that can’t do teach and well anyway he was he was he’s been a judge for many years and interestingly if this is correct he was the world entrepreneur of the year 2001 judge now at the same time he was buying Super Bowl ads and millions and millions of dollars and buying hundreds of bottles of wine and blowing up a company called agillion which which lost an agillion dollars for its investors and anyway Steve okay apart from working at the White House apparently now I don’t know if he actually worked AT the White House but they say he was an advisor to a direct advisor to President George W bush now I’m going to show you his bank statements here and you’ll see all the people that he pays for advice? and it certainly makes you wonder whether he’s an expert and if he’s if he is such an expert they might as he need all of this advice? and then well in the end you know companies that go kaput and lose the sorts of money that I’m going to show you on on their bank statements it will have you wondering whether this guy well Ernst & Young no longer associated with him and I’ll show you an email from from their lead partner who looks after this entrepreneur of the Year award and poor Steve so now Steve claimed I don’t know if he sells snake oil or cures to covid but apparently he he well if you if if you don’t know season to episode 1.5 there’s an interview with Steve and if you’re going to work out what’s what it’s about Steve claimed to have a treatment for covid and well in a minute I’m going to show you a video of Steve’s where he claims to have a cure for kills oh my God this is one heck of a good guy so but when when we’re done with talking about who Steve is well then we’ll have a look at some of his other enablers and one of them is a guy called Areal Kant oh no it’s not Areal Kant Arun Arun Kant [ __ ] sorry Arun as most unfortunate name Arun Kant and Arun
was one of Steve’s enable us if we can put it that way we’ll have a good look at what a rune not Areal Arun had to say about steve and his companies and how disruptive they are and what good shape it is and you will when you have a look we’ll line up some statements that Arun made with some bank statements and well some representations made by Arun and Steve about how good these guys are and how strong their company is are at Nano Capital which collapsed about five or ten minutes after they Bank the money and it will it will leave you scratching and you’ll you’ll certainly at the end you’ll conclude that well Steve is no expert and I think he should you know really consider retirement so who is he he claims to be all these things an entrepreneur and investor a public policy expert a global speaker and noted author and if you want to know a little bit more I encourage you to go to season 2 episode 1.5 and watch that and we talk about Steve or you can just Google steve Steve papermaster two words Steve papermaster and go and visit www.dcpartners.solutions web page

all right so who is Steve papermaster who is Steve papermaster well it just so happens we have a website called www.dcpartners.solutions tag anyway there’s a link I’ll just pop a link here you can pause this and write this down

it’s a very good question and well we’re we’re saying Steve is enabled Steve is a person I’ve questionable business acumen who happens to be enabled by a number of people and that’s that’s a very interesting topic we have a page also on his enablers and I’ll just pop up a link here on his enablers he’s like The Great Oz and you know supported by a whole bunch of people so here’s the link to his enablers each one of these people we say enabled Steve to run these various different schemes for years and years and years and raise millions millions of dollars and I’m going to show you at the end of the day how successful this particular company that claimed to have a covid cure was during covid and well I’ll let the I’ll let Steve’s own documents do the talking the cure for cures wow that sounds pretty good well we’re now just going to go and have a look at a short YouTube video I’m going to speed it up a little bit because it goes for a couple of minutes but Steve promises a cure for curing the mind boggles have a look at this please and then we’ll come back we’ll take you to something even more bizarre Healthcare is sick, well we can cure its the most important thing that any of us have is our health right now the rate of infection is skyrocketing on a global basis cancers although there’s been great advancements right now the failure rate of new drugs is over 95% in clinical trials just like we saw a transformation with the internet into e-commerce and into content we will see a vastly greater transformation in the connectivity of life we are at Nano vision building a platform that we often call the cure for curing the nanotechnology and auto scale data is data of life we are rapidly advancing our cure development platform working with several of the most sophisticated biotech companies in the world the internet of nano things is bigger than anything that we’ve seen before of all things in our life health is the most important thing in our life and we have made despite tremendous advancements we’ve made the least progress in fundamentally changing how we relate to our health on a day-to-day basis you can locate your Netflix account in a second pull up Uber in a second understand what my my Amazon or other accounts are but the second I reach for everything about my health I have no where to go. updates platform to drive Paradigm shifts in healthcare that means a paradigm shift it means changing everything of the way we think of care and curing let’s take the case in point 1960 5% of GDP in the United States is known Healthcare 2019 22.5% … almost $4 trillion dollars a year, break that down how much of that is spent in advancing health and cures less than 10% we are now at a point where though we have all the components that we need to build and deliver a new kind of platform for charting your path forward of not only your health as it projects out but where you’d like it to be it’s time not only do we need it not only should we demand it not only should we expect it but we can do this

Okay so we’ve touched on enablers and we touched who I’ve said did include Ernst & Young and we’ve talked about who is Steve papermaster and we’ve talked about his cure for cures and our cures for curing or something whatever but even on top of that there’s another spin that Ernst and Young I gave this guy an incredible platform Ernst & Young and they’ve since kicked him off the platform and we’re just going to have a quick look at an email we wrote and a couple of things that came out and there’s this very very mysterious Ernst & Young alleged due diligence document that no one seems to have and no one seems to have read or obtained or we’ll have a look at the bank statements as well and it casts huge doubt about this and I will then give you an update on what where Ernst & Young are now which is even more Curious so a we put this blog up several months ago and I got a message from out of the blue from someone. now so we got this email a little while ago saying Steve is known to say things which are untrue so that was a bit of a worry I got that and but you know we published this on the 30th of September 2022, but we didn’t actually publish it all. well I’m just wondering if you’d look if you’d like to see this a little bit more maybe I’ll show you in a little bit but anyway we’re talking it talks about here this thing called the Ernst & Young instant young had due diligence DD document praising Nano and its technology and hopefully you see that and anyway I’ll tell you about this here in a moment but let’s jump back to so remember this I’ll tell you who actually wrote this document and that cites this and this particular person said we in fact told people not to invest so this is kind of a very interesting position that this that the writer of this document is placing on the record he’s sent this and I have every reason it’s a very very prestigious firm and a very prestigious person within a very prestigious firm who goes on the record well he sends this as private and confidential but I’ve published This months ago and this person asked to comment and he asked to clarify his name and well we’ll come back to this this email is is quite key but let’s go now and have a look at some correspondence that I did write to Ernst & Young.
and you’ll see here this is what a web search typing Steve papermaster used to bring up and it had a Steve Papermaster’s Wikipedia page and then the second link was an article to the linking to Steve’s ernst & young Global World entrepreneur of the Year page now that page we’ll have a look at it now but I’m telling you it’s gone and why is it gone well I wrote this little letter to a just a number of professionals at working at Ernst & Young and I’ll maybe I’ll put up a copy of this letter anyway it asks the question if Steve is still viewed as a person embodying the ethos of the Ernst & Young entrepreneur of the year Awards and any thoughts of values and business Acumen considering how many companies poor state papermaster has been has resided over which have ended up kaput and I’ve attached the a redacted email I received from someone who’s one of the largest and most prestigious fund manager in the world critical events in Young and the due diligence package that he prepared and anyway he says he told that that writer according to our web page he says that

this writer says that he told investors NOT to invest

now I’ll tell you who he is in a minute and whether he’s a whether he is a person that should have been telling people not to invest and whether that was the case whether he did actually tell people not to invest or he says he didn’t but you be the judge. so so I send this and this is the list of people that I send it to just just a few anyway they’re all at Ernst and Young in Japan India Indonesia Italy Russia Canada United States and so on but particularly went to a lady called Stasia Mitchell stasia.mitchell diy.com and I promptly received a reply back copied to someone in Papermasters own Branch Ryan Burke who I think was in Dallas or maybe Austin of Ernst & Young hi Mark thank you for your caution and inquiry we’ve quietly distanced and dissolved our relationship with Steve and kindly advise you to do the same oh my God so this is a distancing they’re saying he’s got leprosy don’t touch him additionally additionally additionally our Global PR and social media team will not promote or allow us to be connected in any way in any way copying in reinberg for comment and coaching thank you Stasia Mitchell. wow so poor poor Stevens so Paul Steven there has lost his endorsement so to speak from ernst & young

so it’s very interesting a lunatic blogger from Western Sydney or Orange gets to ride to 100 and something partners of Ernst & Young I can’t tell you the names of the investors … I’m just a but I’m telling you these are very very significant very significant business people and this might go to show the type of interesting work that we do at DC partner Solutions and we

our clientele is very sophisticated we’re able to talk to the heads of Ernst & Young we’re able to talk to the heads of large Investment Management firms. the particular investors involved what I would call gigantic without exaggeration they are whales you’d call it these people whales as investors and we’re now talking about steve papermaster someone that worked at the White House and this is the type of interesting work that we do so if you’ve got a problem like of any kind of any kind sophisticated complex yeah that’s us. we’re now going to dissect this even further even further well well so Ernst & Young so there’s a few questions here you can see and Ernst & Young have made it clear that they don’t like Steve papermaster anymore

so the next group of people we turn to are named Arun Kant of leonie Hill Capital private limited Singapore and well we’ll start with them and these investors and Steve papermaster. so I am engaged by as I said a very sophisticated whale investor very very sophisticated and it would be hard to imagine a more sophisticated investor.

very decent people very very trusting people

very smart very shrewd very well resourced but also decent you know trusting decent whole thing. so we’re going to have a quick look at this Arun Kant and I’m not confusing Arun of any wrongdoing I’m just questioning some of his wisdom in some of the statements and some of the representations that were made and I’m pointing out and his role and some inconsistencies so let’s go now to this particular let’s go to this particular email and we haven’t actually said it who it was but we say a world a world renowned funds manager and provider of capital and previous papermaster enabler name and ID protected and he was one of this guy’s Papermasters most massive investors and backers well he wrote and there’s a redacted copy of his email. he wrote Steve is not Steve is known to say things which are not true.

which is an interesting thing to say considering the role this man Arun Kant had as lead investor in Steve’s group so we’re going to have a look at this redacted version and then I’ll show you the unredacted version and there’s a few things here that don’t quite make sense to me. now I’ve only got an MBA I’ve only done a law degree I’ve only been around for 30 years but if you can figure it out let me know …. I’m copying blah blah now this other bloke blah blah is not my client but he’s known to my whale. I’m copying this to blah blah who’s well who is well-regarded person in blah blah industry. he will tell you how we work and we are and we were in no way involved now please have a look at this we think Arun Kant and leonie Hill capital

may have misrepresented some things. they will tell us how you work we were in no way involved with investors who put money into Nano okay we were in no way involved we have no idea on what covid-19 vaccine you’re talking about because Steve is known to say things which are not true I’ll show you the unredacted version I I’ll still it’s pardon me I’ll show you a partly redacted version because they still have some private bits and for the sake of privacy we’re going to still redact this name this blah blah I’m copying this to blah blah we are in fact people we in fact told people NOT to invest in Nano. so that’s a very interesting thing

they told Leonie Hill Capital told not only told my Whales that they should invest. they welcome them they told them that they were very committed to and you’ll see the exact words they told the whale that they were very committed to Nano and investing themselves and not only that Arun Kant agreed assigned documents to agreeing to be a director of Papermasters company and it would appear performed duties and gave advice as a director would here under Australian law now the company Nano Global is not an Australian company and I’m not giving anyone advice on U.S corporations law but under an Australian you know Australian jurisdiction the things that Arun Kant did would expose Arun as to the liability that a director would have we’re going to have a look at these bank statements and we’re going to test some of the statements that Arun Kant has made to our whale and see how appropriate they are. there’s some other things that we’re going to have a look at that don’t quite make sense about Arun Kant. Arun Kant happens to be the CEO of Leonie Hill capital this we’re told to past investors like Matt W from r10 now I don’t know who Matt W is who put Steve as founding member and also asked to invest. Ernst & Young had DD document praising Nano and it’s a technology and hopefully you see that first. no. we’re going to have a look at the bank statements and the bank statements do not show one single dollar paid to Ernst & Young so it’s it’s going to be very interesting to see Howers and young produced due diligence documents

yet there’s no record on the bank statement and then Arun goes on there are more real cast of characters who you did not mention well we’re going to be mentioning them in this podcast and we’re going to be tagging them and we want to hear from people that know these people I hope you give us a chance to clarify and glad to answer any questions you have. well Arun has gone a little less glad to answer questions and we’ve given Arun the chance to reply on the record. Arun hasn’t taken that up.

so here is the actual email you can see it’s from Arun Kant at leonie Hill Capital Arun can’t is and was the CEO of leonie Hill capital: dear Mark I’m copying blah blah from blah blah who is well regarded yeah you know Fred nerks from bill bloggs proprietary Limited this is another person I would call a whale who is well regarded in Australian industry he did tell us that he worked but they were in no way involved with investors that’s the only Hill capital we have no idea about the vaccine we in fact told people NOT to invest

Ernst & Young DD document. now I’ve shown you already Ernst & Young have disowned Steve papermaster and they’ve warned others not to deal with him. so that’s not good that is not good not good for Steve

now around the same time Nano was giving out documents saying that they’ve got new valuations there Leonie Hill Capital co-leads. co-leads so it’s very interesting that as co-lead investors leonie Hill say Arun Kant who’s the CEO of leonie Hill Capital say we in fact told people not to invest in Nano after after our due diligence failed.

after our due diligence failed. this we told to pass investors like Matt W we put Steve as founding member Ernst & Young had DD document praising Nano and its technology and hopefully you see that first there are there are more real character cast of characters who Arun I don’t think speaks English as his first language there are more real cast of characters who you do not mention and may ask why so again we’re going to discuss these bank statements this comes from Arun Kant

we’re just going to go and have a look at Arun’s profile

well Arun’s page

this is a this is an archive version and Arun was there and Arun was listed under about us, team. a current look at about us team shows that page is not there so I don’t know if Arun Kant is suddenly left the building but a live version of leoniehillcapital.com shows that Arun Kant is not there not there. gone. so that particular page is not found

very interesting and that’s the chief executive officer and chief risk and compliance officer for leonie Hill capital and this particular document shows Leone Hill capital now we do have a page on Arun Kant. and we have had this page up since August and we have extended to Arun. The right of reply. well we’ve given it’s not a right of reply but we’ve offered to respect him as if there was a writer replying we do have some email and some phone contacts and mobile phone numbers for Arun we’ve certainly reached out extensively to Arun he hasn’t lately taken my call so we’ll include that anyone that knows Arun knows papermaster and knows of this matter we’re quite Keen to hear from anyone about this matter and there’s a spot where you can leave a reply on this website www.dcpartners.solutions/podcast – or you can complete a form and attach files and send us tip-offs we’d love to hear from you thank you. well I’ve had a change of mind I was going to run this episode and go through everything that it actually gets very technical I’ve had a little change of mind that I actually think that this is slightly too Technical and I’m going to upload this video I’m going to stop the the podcast now and I’m going to update upload this video as part one of season 2 episode  2

and I just want to take my time there’s a there’s quite a lot of transactions there’s a huge number of people there’s a huge number of people now we’ve got the bank statements as I said we’ve got internal records of Nano Global this company that went down the toilet and um

that went down the toilet and I can tell you that something in the year of 2019 somewhere in the order of $20m dollars U.S so in Australian terms that’s pretty much $30m so it’s not a small amount of money and why is some idiot from Western Sydney lunatic blogger blogging about this well this lunatic sorry this this so-called Guru Mr papermaster he came to Australia and he got money like very substantial money out of several whiles one of them is my client and several when I say whilst I’m saying the people the very clever people they’re very smart people and

their I guess they’re feeling like victims and um

I guess they’re feeling like victims and there is a paper trail and I’m certainly not accusing Arun of Arun Kant or Henry Legere in fact I think Henry Legere is who we’re going to look at I think he comes through this in a very very good shape but he what’s going to be the incoming Nano Global president and chief medical officer and I bet you he’s thanking him he’s his lucky stars he’s not he and I exchanged documents and we corresponded and I’m going to publish that I think he’s a good guy this guy. Henry Legere has met Arun Kant or if not Arun can’t someone very very high up in Leoni Hill Capital and the forensic pulling apart of this is quite Technical and to do justice I plan to just split this episode into 2. and we will go through this step by step line by line of this bank statement and you’ll have a look now I so I say we’re going to look at this bank statement of The Ledger we’re also going to look at the team Nano Global team and you’ll see the team and who gets money and how much money how much of this $20m USD bucks got a raise I can I’ll skip to the end I’ll tell you it’s all gone so we can look at I’m relying on this document I don’t think it lies I’ve got other documents of Nano Global apparently written by Steve himself and so we’re going to look at that team and and how they got that $20m bucks

essentially for a healthcare product The Cure of cures and I’ll show you the excuses you’ve seen in episode 1.5 this video of Steve’s where he talks about a treatment for covid and other pandemics like future ones and yet come early 2020 Steve’s now blaming the pandemic and saying oh well that’s the reason you’ve lost your money after $20m dollars has been paid. certainly not exclusively to Steve but it’s gone and quite a lot of it went to Steve and he’s if the well management team his management team it’s you pay peanuts and you get monkeys well this is a a case where $20m US dollars so the equivalent say $30m AUD has within a very short period of time evaporated and evaporated yes that’s a very nice way to put it vanished evaporated been consumed however you want to put it so what we do know is Ernst & Young wants nothing to do with Steve papermaster hey disown him. Arun Kant

well he decided not to invest. he wrote to my whale and told them they were very committed I welcome aboard welcome aboard yeah we’ll take your money and Nano was in good shape and very disruptive so at that exact time at the exact time that Arun Kant was writing this to my whale I’ll show you the pain statement and the bank balance and you be the judge of just how good a shape Nano Global was in and for Arun Kant to be writing that he was very committed and it was in good shape oh and very disruptive or highly disruptive in other words Nano was changing entire sectors of the economy. I’ll show you the I’ll say the sales the revenue the income that’s coming in so the entire bank state.ments the they’re not the actual statements but they’re The Ledger and Bank Ledger for 3 Nano global bank accounts which has all the sales and you can be the judge of how disruptive it is so what I’m looking to find is whether Arun Kant or Steve papermaster or Henry Legere or anyone else has participated in some course of action

some offence, I’m not saying it did but I’m looking at this evidence and you can look at it and make up your own mind so we’re going to just dissect that further today’s Monday the 14th of November 2022. I’ve got some personal projects on I’m going on a research trip how’s that sound and I may well come back with even more information so that’s another reason just to slow things down I will prepare part 2 of episode season 2 episode 2 and I’ll upload that when I can. there may be there may be a part 3 maybe. so I hope you find this interesting if you’ve found this interesting so part one was probably a little bit more light-hearted but part 2. I’m telling you it will be forensic it will be factual it will go through this ledger line by line. and you’ll be able to consider the competence of Arun Kant and leonie Hill Capital whether there was any misrepresentations and really whether, they’re a good fit to be listened to as advisors or whether you should take things that they say with a grain of salt. and it was Arun Kant after all who said that Steve papermaster was known to say things that were not true. you can consider whether that statement applies to Arun. so Arun if you’re listening and you want to reply to any of the things that we’ve said so far I’ll happily give you the opportunity to reply and put your side of the story. now In fairness I did correspond with Arun between the end of September and now and today’s the 14th of November. Arun claimed to be in Switzerland. he claimed to have a elderly mother who he’s attending to. he also claimed to be sick so maybe he needs a nano cure? and he claimed to have had covid, and have other illnesses. so I received a reply from him on Friday the 11th – thats 11-11. I love the number 11 11. Arun claimed to be out of the office and he would need time to reply. well Arun’s been out of the office, it would seem, out of the Singapore office for months. so he hasn’t responded to me saying who was filling his shoes?

I did message him, Arun. if you want to reply or someone else from Leonie Hill Capital wishes to reply and wishes to set the record straight? and if anyone has the Ernst & Young due diligence report? if it even exists? by all means send it to me [email protected] … thats [email protected]

or you can go to our website www.dcpartners.solutions/podcast – I did

and there’s a form there on that page you can just upload it send us a tip off. send us any tip-offs you like. so this blog does get looked at it gets watched it gets watched by some very surprising people, so not necessarily conspiracy theorists or lunatics it does get watched from time to time by some serious people. so I invite you to tune in to season 2 episode  2

part 2 of the many R’s podcast and we’ll continue the story. thanks for watching [Music] thank you

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

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Transcript

coming soon, 21/11/2022

#whoisstevepapermaster

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

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Papermaster enabler confesses: “Steve is known to say things which are not true”.

Steve Papermaster is known to say things which are not true

30 September 2022

A world renowned funds manager / provider of capital and previous Papermaster enabler (name and ID protected), previously one of Steve Papermaster and Nano’s most massive backers has sent us the following message admitting to the character of Steve Papermaster and Nano’s – alleged legendary entrepreneur and respected business leader:

Steve Papermaster is known to say things which are not true

Candidly, the funds manager rubbished the work of Ernst & Young and some of those other ‘characters’ Steve Papermaster surrounds himself with. How Steve Papermaster remains a judge for the EY Entrepreneur of the Year we are unsure?

Have you had a similar experience with Steve Papermaster or his characters – some of whom are discussed on this page: Enablers and Associates

Are you a former enabler who wished they’d never met Steve Papermaster?

Tip-offs – have we forgotten anyone?

Are you aware of failed Papermaster companies or enablers – complete our tip-off form below, send documents, or instant chat with us. Thank you.

#whoisstevepapermaster

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Ernst & Young – EY Entrepreneur of the Year list of Steve Papermaster enablers

Ernst & Young - enablers of Steve Papermaster

published 30 September 2022.

Steve Papermaster has been enabled throughout the years to cause significant losses to investors, additionally there has been raised allegations under oath that Steve Papermaster is a fraudster aided by a myriad web of enablers, associates and supporters – some listed below.

This enablement has included Steve’s made in the course of raising millions of dollars from investors that own his company’s products are a cure or treatment for covid19.

Probably the most prominent, responsible and shameless enabler/s of Steve Papermaster has been Ernst & Young and in particular its EY Entrepreneur of the Year programme which has provided Steve Papermaster with a platform of credibility to source investor / victims.

EY Entrepreneur Of The Year (Ernst & Young) – Enablers of Steve Papermaster

EY Entrepreneur of the Year - Steve Papermaster enablers

Location Leader Email Program Manager Email
Global Stasia Mitchell [email protected] Angela Plaisted [email protected]
Argentina Fernando Coccaro [email protected] Ricardo Furman [email protected]
Australia Justin M Howse [email protected] Dru Dundon [email protected]
Austria Erich Lehner [email protected] Nina Gottsbachner [email protected]
Gabriele Tamandl [email protected]
Azerbaijan Ilgar Veliyev [email protected] Narmin Guliyeva [email protected]
Belarus Pavel Laschenko [email protected] Kirill Karabanov [email protected]
Inna Pashkevich [email protected]
Belgium Patrick Rottiers [email protected] Mireille De Jonge [email protected]
Brazil Raquel Teixeira [email protected] Andreia Yamasaki [email protected]
Canada Paula Smith [email protected] Krysten Fairbairn [email protected]
Josee Rioux [email protected]
Chile Cristián Lefevre [email protected] Ximena Woolvett [email protected]
Mainland China and Hong Kong/Macau William Huang [email protected] Queenie Yuen [email protected]
Michael Bi [email protected]
Colombia Edgar Sanchez [email protected] Jimena Abad [email protected]
Croatia Berislav Horvat [email protected] Silvija Prlic [email protected]
Czech Republic Helena Sladkovska [email protected] Dana Hrušková [email protected]
Denmark Søren Smedegaard Hvid [email protected] Anette Vraa-Jensen [email protected]
Estonia Ranno Tingas [email protected] Heidi Jalakas [email protected]
Finland Juha Veikko Hilmola [email protected] Anna Pyykkö [email protected]
France Jean-Francois Royer [email protected] Coralie Constant [email protected]
Georgia Ruslan Khoroshvili [email protected] Natia Meltauri [email protected]
Germany Michael Marbler [email protected] Monika Gulyas [email protected]
Wolfgang Glauner [email protected]
Ghana Ashish Bakhshi [email protected] Dorothy Amengor [email protected]
Greece Evangelos-Maximos Scopelitis [email protected] Elissavet Vandorou [email protected]
Hungary Botond Rencz [email protected] Ágnes Pellion [email protected]
India Farokh Balsara [email protected] Sunaina Uppal [email protected]
Indonesia Hari Purwantono [email protected] Amelia N Azeliawini [email protected]
Ireland Roger Wallace [email protected] Clara Carroll [email protected]
Israel Yoram Tietz [email protected] Sivan Hakmon [email protected]
Carmit Harel [email protected]
Italy Massimilano Vercellotti [email protected] Giulia Romano [email protected]
Japan Taichi Muto [email protected] Tomotaka Ishikawa [email protected]
Tomoko Tokunaga [email protected]
Jordan Waddah Barkawi [email protected] Huda Alkhatib [email protected]
Kazakhstan Erlan Dosymbekov [email protected] Assem Tnalina [email protected]
Kenya Frank Mwiti [email protected] Edith K Osoro [email protected]
Liechtenstein Sascha Stahl [email protected] Claudia Strässler [email protected]
Luxembourg Yves Even [email protected] Christophe Gence [email protected]
Caroline Imbaut [email protected]
Malaysia Philip Rao [email protected] Katy Kng [email protected]
Malta Ronald Attard [email protected] Kevin Mallia [email protected]
Mexico Guadalupe Castañeda Campos [email protected] Fabiola d Maldonado Guizar [email protected]
Netherlands Marita de Hair [email protected] Dagmar Klopper dag[email protected]
New Zealand Darren White [email protected] Rebecca Seymour-East [email protected]
Norway Ina K Rosenberg [email protected] Veronica Hagelid [email protected]
Peru Beatriz Boza [email protected] Miya Mishima [email protected]
Philippines Henry M. Tan [email protected] Ma Regina Maldonado [email protected]
Poland Jan Krzysztof Bielecki [email protected] Julian Przbylski [email protected]
Portugal Miguel Farinha [email protected] Luis Florindo [email protected]
Telma Franco [email protected]
Romania Bogdan Ion [email protected] Iulia Ghinescu [email protected]
Russia Alexander Ivlev [email protected]
Saudi Arabia Ahmed Reda [email protected]
Serbia Ivan Rakic [email protected] Mila Bjelakovic [email protected]
Singapore Max Loh [email protected] Chew Ting Wan [email protected]
Slovakia Katarina Sekulova [email protected] Zuzana Tocekova [email protected]
South Africa Azim Omar [email protected] Sarah Custers [email protected]
South Korea Suk Jin Yun [email protected] Kyeughee Park [email protected]
Spain Jose Luiz Ruiz Exposito [email protected] Elena Merino Macho [email protected]
Jesus Garcia Valcarce [email protected]
Sweden Carlos Esterling [email protected]m Isabel Bergström Stacey [email protected]
Switzerland Sascha Stahl [email protected] Claudia Strässler Claudia Strässler
Taiwan Ian Wang [email protected] Dee Dee Chen [email protected]
Maureen Wu [email protected]
Trinidad and Tobago Maria Daniel [email protected] Gina Matthew [email protected]
Turkey Metin Canogullari [email protected] Bahar Uysal [email protected]
Bilge Ergezen [email protected]
United Kingdom Victoria Price [email protected] Courtney Shields [email protected]
United States Andrew (AJ) Jordan [email protected] Wendy Fox [email protected]
Venezuela Alberto Afiuni [email protected] María Jesús Acosta Cabezas [email protected]
Vietnam Thang Manh Hoang [email protected] Nguyet Thu Vu [email protected]
West Africa Ashish Bakhshi [email protected] Oghe (Oghenekume) Obieromah [email protected]

Tip-offs – have we forgotten anyone?

Are you aware of failed Papermaster companies or enablers – complete our tip-off form below, send documents, or instant chat with us. Thank you.

#whoisstevepapermaster

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Many R’s Podcast – S2E1.5

posted 29 September 2022

Season 2 – Episode 1.5 Many R’s Podcast

Welcome to Season 2, episode 1.5 of the Many R’s Podcast highlighting our centrefold Steve G Papermaster. This series is presented by Mark J Smith of DC Partners Solutions, Sydney, Australia.

0:01 Introduction

0:41 Steve Papermaster breaking news received from a former Papermaster enabler ….

1:13 Steve Papermaster breaking news received about Ernst & Youngs Papermaster due diligence ….

2:00 Steve Papermaster – an introduction to our new villain, his ‘covid cure’ and more direct from the White House, Washington DC.

3:00 Steve Papermaster – #whoisstevepapermaster according to Steve.

3:10 ‘The Hill interview’ introduction

3:30 Steve Papermaster – #whoisstevepapermaster according to those who’ve been had?

3:50 Steve Papermaster – #whoisstevepapermaster according to those who’ve been had – Mozido Inc v Steve Papermaster – for more information click here: https://www.dcpartners.solutions/2022...

4:50 Steve Papermaster – #whoisstevepapermaster according to those who’ve been had – according to the trustee / liquidator of Agillion Inc – for more information click here: https://www.dcpartners.solutions/2022...

5:30 Steve Papermaster – #whoisstevepapermaster “legendary spending spree”.

6:30 Steve Papermaster Enablers – #whoisstevepapermaster and who is his team of enablers?

7:00 Steve Papermaster Enablers – #whoisstevepapermaster and who is his team of enablers – Leonie Hill Capital / Arun Kant.

7:15 Steve Papermaster Enablers – #whoisstevepapermaster and who is his team of enablers – Gordian Group, Peter Kaufman / Fred Zeidman.

7:30 Steve Papermaster Enablers – #whoisstevepapermaster and who is his team of enablers – Ernst & Young / EY Entrepreneur of the Year Scam, Angela Plaisted, Andrew Jordan, Stasia Mitchel, Alison Kay, Wendy Fox.

8:50 Steve Papermaster Nano Cures – #whoisstevepapermaster and his covid cure and treatment – Steve’s email re covid treatments.

9:05 Steve Papermaster Nano Cures – #whoisstevepapermaster and his covid cure and treatment – Steve’s email re Leonie Hill and other investors.

9:40 Steve Papermaster Nano Cures – #whoisstevepapermaster and his covid cure and treatment – Steve’s email re Leonie Hill and other investors – Investor Document.

11:40 Steve Papermaster Nano Cures – #whoisstevepapermaster and his covid cure and treatment – watch Steve’s amazing corporate video.

21:55 Steve Papermaster – introduction wrap up.

22:40 Steve Papermaster – introduction wrap up – Ernst & Young continued.

23:40 S2E1 – closing wrap, what’s to come in Season 2.

26:30 credits, closing and tipoffs / how to contact us.

27:10 closing music.

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

Leave a Reply – nothing defamatory will be permitted, all comments moderated. Spam will not be approved.

Transcript

rogues rascals reviewables rorts rip-offs receivers real estate agents and much much more this is the many r’s podcast season 2 episode 1.5 focussed purely on steve papermaster, google steve papermaster, presented by mark smith from dc partner solutions. Our website www.dcpartners.solutions/podcast and you can instant chat with us there, otherwise give us a call anytime till late, most days, 1300 327 123.

well welcome to this very special episode, episode 1.5 of season 2. and we are purely profiling steve papermaster as an extract of season 2, episode 1. and boy have we got some interesting and breaking news in the pipeline including INCLUDING something which has fallen out of cyberspace from one of Steve Papermaster's former enablers spilling the beans, in writing, that steve papermaster is NOT always someone who tells the truth. so i'll be very happy to publish that. Boy, you don't want to miss that. so if you are or have ever been someone who has invested with steve, sponsoring one of his floats or whatever …. this is a person that Ernst & Young put on a pedestal and say that he is an entrepreneur of the year, not only that but he is a founders and one of the judges (of the awards series), so ernst & young give yourself an upper cut, this particular document talks about the ernst & young due diligence and praise report … oh my god, the ernst &young praise report, don't you want to read that … the ernst & young praise report was absolutely glowing and it could have bought and paid for by steve papermaster himself?? ah, who knows whether ernst & young actually wrote the report themselves or steve wrote that or whoever? maybe he got someone from the white house to write it?? it is …. it is … I can't wait to share the report with you. stay tuned. this is the many r's podcast, we are now going to go to a profile we did on steve and then standby and watch the video …. steve's illustrious covid cure video. so enjoy, have a laugh … get some popcorn ….

(transition to extract from s2e1) ….
all right well we're now moving on to uh the centerfold the centerfield of uh the dcp solutions website and uh how many are this is our current centerfold and it's a guy called steve g papermaster and uh steve g papermaster and his company nano global, nano vision, nano whatever you want to call it now anything um so uh who is steve papermaster well he's not even an australian but this guy has come to our attention and uh he um well we're going to ask who is the papermaster it's a very very good question and let's perhaps perhaps perhaps there is two stephen papermasters it's this steve that steve spins but there's also what others say and it's going to came to our attention um i don't know whether to say through a fictional character or someone else but uh someone someone that we've come across um uh ended up being a victim let's just say a victim of um this steve papermaster and his investment scheme and um well let's let's see what others say about steve papermaster and then um well we'll first look at what steve says and um so let's play this

Molecular bonding is what we need in vaccine development? Papermaster was ….

wow how impressive? steve is a guy that knows how to beat covid19? my god uh where do we sign up um uh that's now who do you reckon right that spin um do you think the journalist write that or do you know do you think steve um provided a list of talking points? this is who i am. read this will you? and uh wow

now what do other people say about steve? you know people that have actually met him and done business with him what do they think well let's have a let's have a look at a few of these uh well let's have a look at mozido inc and steve papermaster and um this is uh from a court case uh a real court case and fought a few years ago and this is um

this is what the defendant says now i'm sure that there's always two sides to the story that uh the defendants say uh steve's not some genius that worked in the white house and all of this and by the way the people that i know that um have claimed to be a victim of steve's they don't see him as a genius that worked in the white house either but um let's just see what this is so the defendants led by paper master promised to provide mozido a leading global payments platform with substantial opportunities to expand in the china market however that promise turned out to be part of an intricate fraud that that defendants perpetrated in order to swindle mozido out of millions to lure mozido into the trap the defendant's touted and you know and it goes on and on and on and on

okay so that's that's one disgruntled party um and that's a few years ago

let's let's now have a look at uh a trustee, that's what we call liquidator here in australia, steve papermaster uh and other executives squandered assets and this is going back a few years ago six of agillions uh former topic executives have been sued by bankruptcy trustee for the legendary spending sprees that bankrupted one of the most well-financed and well-known high-tech startups in austin.

whoa so that's a little bit different um the person's charged with um

so this article talks about how agillion, steve's company burned through 60 million dollars in less than three years

now that you've got to admit there's talent there um wow

so um i mean i just love this article i think it's incredible and this is another side to steve

so uh that you know you don't you don't hear of when uh when you're given the talking points um agillion um they had about $100 bucks in the bank, uh 15 months before they had 30 million dollars in the bank, so um and for all of that um money that they've spent they had a few dozens of subscribers? i mean this is legendary and i mean i think you've got to go to the white house uh for this sort of legendary um stuff so uh they bought ads in the super bowl, they spent $500,000 uh taking um their staff uh on a little trip on a pep talk, uh a team bonding session, there i say um they took a 10 year lease on a building for 30 million dollars, they opened an office in australia when they had like 13 customers back in the united states? uh on a super bowl night uh back a few years ago um they threw one hell of a good party - 168 bottles of wine at a restaurant!!!!

i mean whoa and we're going to have a look at i mean this is this is a guy

wow i just don't know what to say this is very very impressive so um let's have a look at some of his enablers i mean uh to to get away with doing some of these things you really need a team this is you know this couldn't possibly be a solo effort and uh this this guy is i mean he's great so uh these are some of the names that have helped him and we're gonna have a look at over this um particular season we're gonna have a look at some of the people that have enabled this guy to get away with some of the stuff and um i'm going to show you a video in a moment and it is so special it is so special but he's been helped if that's the word he's been helped by bankers and funds managers and and all sorts of people but ernst & young - they probably take the absolute cake

so um so these are some if you want to know a little bit more just google steve papermaster or steve papermaster enablers and uh you'll get to see some of these enablers uh the ceo of a company called leonie hill capital uh that's arun kant um he's been helped by the gordian group now they've been fantastic uh one of um there's a whole bunch of beautiful photos in here uh peter kaufman he's the ceo or president or something of the gordian group

oh no i don't think he's the president, that's a guy called fred zeidman who's um you know king of the jewish lobby in the united states and good mates with um good mates with george w bush on the fundraising committees and blah blah blah blah

so um angela angela plaisted it at ernst and young there's uh there's a cast of thousands of thousands at ernst & young.

this is fred zeidman

andrew jordan of ernst & young, now the main well i'm not sure it's the main but it's certainly one of the um one of the key pieces of um enablement if you like and uh i mean that's an interesting word

but um steve uh steve has even gone on to super yachts in uh in in in monaco and places like that um to as a guest of um ernst & young … ernst & young … they trot him out and they say wow this guy's a legend. They (ernst & young) don't i don't think they say anything about oh how he blew 30 million dollars and um you know run companies into the ground um uh elaborate frauds or intricate frauds (mozido allegation) i don't think there's much about that in the spiel in the ernst & young spiel, but my god um these are some of the people that enable him, stasia mitchell ernst and young. alison kay, they run this thing called the ernst and young … i love ernst & young, i mean i've had things to do with them, i think they're a reputable firm and but then for them to be absolutely blind to who this guy is i actually put him on the ernst & young entrepreneur of the year uh judging panel!!!!

um uh wow and uh they say well this is this is the guy to follow

uh wendy fox of ernst & young, um there's some profiles here of some of the people that have have helped him out

now we're gonna have a look at some more documents and uh what can i say what can i say but i think before that i think we need to have a look at this video and i mean i've i've ONLY got a law degree and an MBA - all right i must be a complete idiot - because i have no idea what the hell this guy's talking about???

let's have a look at this this is the steve papermaster covid spiel and uh work out if you can work out what the hell he's what the hell he's promising that he's got and um well let's just have a look now uh i've got to show you this this email um this is an email that he's written to uh one of the victims um in april 2020, now that's right at the start of covid,

uh dear blank, now i won't say i have actually changed this i've pulled out the two section i pulled out the date and the time so uh i suspect he's probably sent this to all of his victims but

dear blank

i look forward to talking to you soon i wanted to get you a summary of the core nano products which are scaling up in the market for treatment and prevention of covid 19. coronavirus treatment he's got …

this guy claims he's got a treatment for covid 19.

now uh pfizer it's ….

this is a company called …. you've never heard of uh uh what's yeah anyway a treatment for covid 19.

oh my god i mean and this is sent by steve now if this is bullcrap just just go ahead and sue us

okay because uh this is this is the sort of crap that he sends out um we are close uh now leonie hill here's another email uh we are close now this is in january 20. we are closing an important license small acquisition oh we are closing we are closing and we'll close and we'll close the preferred equity round with leonie hill and other investors

so did leonie hill invest a nickel?? no no no no didn't arun kant got heaps of other people to invest money but didn't invest a single cent themselves??? uh other investors i'm not sure we are closing an important licence so did they no no so um let's well i think we should have a look at this investor document

now this is an investor document that they sent out uh to some actual suckers that did invest uh and they say well they know here's the ceo and it tells us it tells us about this acquisition and that uh henry i poor bastard i can't pronounce you soon henry legere, my apologies to you henry if that's not how you pronounce it um $300million dollar uh post-money valuation target, $55million institutional investors, and up to $25million uh to select reliant and nano family office/friends / family and friends … the family and friends round now it says here that leonie hill and mark cuban and others they're all investing really, so did they invest no use of proceeds what we're going to buy is the integration of reliant and uh henry legere is he's our president he's gonna be the president and did they

and you know i'm actually told that this absolutely went nowhere near like there wasn't even talks there was nothing serious so uh they claim that they're going to be the leader in global in-app health and wellness

um so let's without any further ado let's go and have a um listen to steve's own words about his covid cure, well steve papermaster let's let's hear from the horse's mouth, so to speak and uh i'm going to give you a commentary as we're going through and uh trying to decipher some of this crap that's um that's spewing out of his mouth? so let's without any further ado let's let's have a let's have a listen and see if we can figure out what the heck he's talking about???

our vision for nano has been simple but powerful from day one nano is here to heal and shield the world our vision heal and shield the world and this is uh one year ago so this is uh he's talking about covid - aim high steve.

is to be able to have an immunity platform for the world that allows us to detect protect and predict pathogen-led outbreaks all the way up through pandemics

so steve's going to predict predict pandemics and pathogen outbreaks is i mean this thing cannot move without him his knowing right and he's going to protect the world and heal it

to develop the technologies from drug development vaccine level through preventative technology

so he's developing the technology through vaccine level now i've never heard of the nano vaccine for covid 19 but stay tuned

you know through a digital data to be able to develop uh real-time effective cures and

effective cures in real time

in real time he's going to he's got the technology in real time to produce effective cures

effective treatments

people's lives are at stake literally by the second by the nanosecond more than ever in the world today it's a real tragedy um a human tragedy of enormous scale and societal impact with covid-19 and it won't be the last one

and so oh so he knows about the future ones as well okay so what's coming next after covid 19. okay beautiful

so we want to do our part to accelerate take the benefits of our innovations and technology from the vaccines into the surrounding

so we're going to take the benefits of their vaccines and apply it and make squillians okay

we want to invest in this areas of technology and get it to billions of people

oh and he's going to spread it out to billions of people so forget about pfizer novavax uh astra zeneca - nano right

all over the world as fast as we possibly can in the development of of our nano cures which

he's got his nano cures so some sort of microscopic cure that he's got it all figured out includes the vaccines

and therapeutics we are taking the specific vaccine candidates that were in development prior to the covid 19 outbreak and refining it for covid 19.

so he's got these cures that were from before covid 19 and he's going to refine them and apply to covid 19.

we have clinical trials uh they're in process now clinical trials

okay that's why we haven't heard um they're in clinical trials

and seeks and fast track regulatory approval fda and fda equivalent

oh okay so it's the government's fault okay right because there's seeking fast tracking globally

get that delivered to people and in the market as quickly as we can in the late second quarter or early third quarter and that is very very fast especially for this type of

now look at this cure it's just racing across the globe

vaccine which is an extremely stable very low cost vaccine

an extremely stable vaccine low cost now in a minute he's going to tell us that you don't even you can just stick it in the fridge

not require ultra high levels of cold chain storage like mrna vaccines need

so this is better than all that crap you know all that pfizer stuff it's much better you can keep it at what is normal refrigerated temperatures

this farker’s actually keeping a straight face, like i think he actually believes all this stuff

in order to deliver that vaccine which is critical in many parts of the world that do not have the sophisticated levels of it

ah okay so he's talking about the developing world here where you know uh where there isn't coal chain logistics well um he's going to spread his cure around i don't know billions of people wow we want to invest in this company

infrastructure available the other big areas that we are developing are different delivery mechanisms so that you can take a vaccine that we've developed and use it as a spray on your skin

oh you just spray it on i wonder if this is like those erectile things you just sniff it or something you know and you know um you're cured from covid?

more patch on your skin or nasal spray or an oral vaccine and after that of course we've got we've got in development in parallel a universal pan corona virus vaccine that is intended to provide immunity for any future forms of chromovirus-based organisms

a pan-corona vaccine that's going to wipe out everything so anything that comes all the next variants and all of that he's already got it sold for pathogens as well as potential mutations from 2019 oh okay so all the deltas the omnicrons and all of that he's got it all figured out

Nano cure is a technology that is specifically engineered to get

so this is a soap company?

give us very safe defective compounds that we can apply as a fierce uh antimicrobial antiviral that can attach to our skin and surfaces that will attract and destroy on contact dangerous pathogens

so it's going to attract the virus and then destroy on contact like some sort of scary laser this is star wars or something right sometimes refer to it you can see the bacteria coming wow

it is sunblock or sunscreen for germs it means that somewhere between hours and 24 hours on your skin and on general surfaces that can be weeks months or even longer until

longer than months so you just got to spray this on some surface and wow it's just protection so this is the ultimate protection racket wow and lasts for even longer than months on your skin and on surfaces

is disrupted we are all exposed all the time if we have any semblance of normal life the ability to cut the transmission the contagion in many cases by 90 plus percent

in many cases by 90 percent

90 plus percent

so you pay your money to steve and um snake oil bang this is like the magic snake oil

that level of prevention is on par with the profound impact of having widespread nanosense vaccine technology piece of our platform

oh here we go so this is his technology

that we have architected to essentially be the operating system if you will of molecular level data what we're breathing what we're touching are those things that

wow i love it we

come and contact you on our exterior body or into our lungs and synthesize the data analyze the data through our sensors

so he's got some magic piece of plastic but you plug it in you pay you pay your license fee and it just tells what pathogens are in the air or whatever and does it send out an alarm to send out an sms who knows let's keep let's keep watching

using our nano center technology we can actually see from a standpoint of analyzing is there the presence of or the likely presence of certain germs certain pathogens like covid19 or others that are or could be dangerous we're still early on in the development

oh so it's not just limited to covid uh it's the other more dangerous things wow and i mean the mind the mind just boggles

development we will be rolling out in product forms rapidly over the next one to two years time is of the essence in just the next four to eight quarters we expect to be active really in every region of the world we'll have

wow every region of the world is going to be active with uh with this guy's technology

a manufacturing capability we'll have regional delivery just in the course of the next 12 to 24 months we will have our presence

oh okay so they're going to send their packages out through south africa and on to indonesia and australia wow

and they're also going to get there so they're going to send stuff through the democratic republic of congo then send it over to nairobi and then on to india or pakistan or somewhere and they'll be sending something through libya, from somewhere over here so where's that

who knows uh memphis i'd say uh send it through libya and then on to china? okay well that sounds pretty good and from memphis uh through to that looks like the south of france so they've got some hub in the south of france and then on to kazakhstan? that looks good let's uh let's keep going um but they're sending it from mexico to um where is that you know is that chile?

in most major regions in the world directly with partners you can never have too many fantastic partners when you're trying to partners we're going to have a partnership

so that's perhaps uh how our guys got involved and lost money with this guy??

bring this kind of technology and this type of care to the world

so he's bringing this type of technology and care to the entire world so um let's let's just contemplate that for a second

so that's something to whet the appetite for …. for the rest of uh season 2 we're going to have a look at this guy uh steve papermaster and nano and his white house exploits and and more so let's have a look at that throughout the rest of the uh uh the season

i will let you in on the secret though uh the the ending

i'm going to spoil the surprise, uh nano is uh um the company that uh took i don't know 20 30 50 million dollars from investors uh the cure for all this wonderful technology is just all bull crap and it's it's just all ended up in the toilet there was no merger there was no technology there's no license there was no uh fundraising by mark cuban and arun kant and leonie hill capital - just all absolute bull crap so uh and who can forget ernst & young and the EY entrepreneur of the year?

now i mean this is entrepreneur of the year stuff

this is entrepreneur of the century stuff by mr papermaster

yes um steve is still on the illustrious panel of uh judges for the EY entrepreneur of the year

so um who was the genius at ernst & young that thought wow we've got to keep this guy on the judging panel?

and if you google steve papermaster about the third thing that comes up is uh the EY entrepreneur of the year

yeah steve just absolutely spins this to the max and so he's on a great deal and who knows what sort of uh kickbacks or whatever, maybe that's the wrong word? um engagements, who knows what sort of engagements that ernst & young get out of these nano companies? and you know, i dare say that funds from investors … have plenty of funds have ended up in the in the coffers of ernst young?? and uh you know, maybe i'd love to know which new marble foyer is being built now with steve papermaster money? in which offices of ernst & young (are the marble foyers being installed???) - i'd love to know

so what's this space

so look, in closing we've got an exciting season 2 uh in front of us

we've got a little bit happening in the real estate space uh we've even got leasing activity with uh our mate ralph paligaru so we're going to be watching asquith spices and see as he rolls out uh that strategy right across sydney?

um we've got miscellaneous others

we're going to follow jetstar and see what other complaints come in

uh we'll be monitoring uh some in the in the legal sector

uh we haven't got any insurance racketeers just yet but uh we're always open

um we may well write uh some things about our bankers in the fictional uh in the fictional department so that we can be a little bit more explicit but tap into our creative touch and our creative that creative space and get the story out we won't necessarily get sued by any of the people involved so that'd be very nice uh

and we'll see what uh develops with uh receivers and liquidators um now - we've got uh stuart jones from perth property group uh and his daughter jade and his wife geraldine so we'll see what happens there, stuart’s got a wonderful uh trustee in bankruptcy and we'll be following others no doubt into that space and of course when we say others well we're talking about um steve papermaster our centerfold will be following

uh the oh raymond gulliver sorry the real estate expert there's lots and lots and lots to discuss there with raymond gulliver uh we may even find out who owns the bank account that um uh was swollen with $327000 dollars of loot uh and it wasn't raymond and jennifer that's we know that we know that they're not the owners of that account but we don't know who is so all apologies uh jennifer completely innocent we may even see raymond's um statement of affairs uh since he's in bankruptcy so that's very interesting

um but we're coming back to uh steve papermaster now there's lots of lots and lots of stuff there i'm going to talk about how ernst & young are wonderful enablers how the gordian group fred zeidman and others just look the other way when it comes to you know losing 30 million or 50 million they're there for steve they're there for steve and in his hour of need the covid cure you never know you never know you might even see something about the uh nano covid cure so that's an exciting season 2

uh coming our way uh we might even touch on greg walker and see where he's up to um uh we didn't really get to talk about macarthur group macarthur properties uh macarthur projects dare i say and um where's 131mvr up to?

so there's so much to go through in the rest of season 2 and we've got many many surprises particularly in the fictional storytelling department we've got some characters well uh they may be uh they may resemble uh people that um you've heard about uh there may be facts and you know bits and pieces uh of the story that unravel throughout the rest of season 2

so that's something to whet the appetite for

i hope you will if you've got any questions do give us a call 1-300-32723

my name's mark smith or jump online www.dcpartners.solutions/podcast and instant chat with us in any time of day or night uh whether that's american time - hey we love tip-offs so if you know any of these people that are involved and you've got documents or any information that you'd like to share with us jump on the instant chat tools and uh you can send us documents uh send us bits and pieces there's a tip off form um about steve papermaster just google steve papermaster uh enable enablers um and if you want to uh tell us about some of these enablers some of the things that ernst & young get up to on his behalf we'd be only too happy to know more and share that with our viewers so that's it signing off mark smith www.dcpartners.solutions/podcast instant chat with us or call us until late most nights 1300 327 123. thanks very much bye

#whoisstevepapermaster

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

Steve Papermaster - covid cure
s?

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Asquith Spices

Asquith Spices / Ralph Paligaru Inc

Profiling the wonderful business of Ralph Paligaru owned by Genesis Pacific Enterprises Pty Ltd known as Asquith Spices.

Asquith Spices is located at 377 Pacific Highway, Asquith

https://www.facebook.com/AsquithSpices/

https://www.facebook.com/AsquithSpices/

Know more? Message us anytime. Or if you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

Leave a Reply – nothing defamatory will be permitted, all comments moderated. Spam will not be approved.

Many R’s Podcast – S2E1

updated 1 September 2022 (please refresh your page).

Season 2 – Episode 1 Many R’s Podcast

Welcome to Season 2 of the Many R’s Podcast featuring our centrefold Steve G Papermaster. This series is presented by Mark J Smith of DC Partners Solutions, Sydney, Australia.

0:01 Introduction

0:27 Intro to Season 2, recap on why the Many R’s podcast exists and who is Mark Smith

2:22 topics to be covered in Season 2 and other seasons.

2:55 Real Estate focus – Raymond John Gulliver, PEGG Capital, Andrew Smith, Tim Holmes, Hugo Driemeyer, David Vereker, Robert Miles.

2:55 Real Estate focus – David Vereker.

8:12 Real Estate focus – Raymond John Gulliver, PEGG Capital – ripoff of Red Earth Ventures Pty Ltd for $327,000.

10:12 Real Estate focus – Raymond John Gulliver, PEGG Capital – partnership and role of different partners including present Chairman Albert Saychuan Cheok, Andrew Smith, Hugo Driemeyer.

15:35 Real Estate focus – Perth Property Group – Stuart Jones, Geraldine Jones, Jade Jones.

17:02 Real Estate focus – Perth Property Group – Geraldine Jones, Jade Jones.

17:45 Real Estate focus – Group Buyer Pty Ltd, Ben Daniels.

18:25 Real Estate focus – Group Buyer Pty Ltd, Ben Daniels, Dr Peter Vickers Pty Ltd, Luke Paul Hayes.

19:30 Iffy Lawyers – Tim Horne, Horne Legal, Aqua Law.

20:28 Where are they now – Caernarvon Cherry Pty Ltd, Fiona Hall, Bernard Hall, Caernarvon Canobolas Pty Ltd, Biteriot. To view the judgment in the matter of Re: Caernarvon Canobolas Pty Ltd in liquidation [2022] NSWSC 382 – click here: https://www.dcpartners.solutions/2022…

21:15 Real Estate focus – Greg Walker, MacArthur Projects, Archbald Gosford, 131MVR St Ives

22:14 Real Estate focus – Ralph Paligaru, Asquith Spices and https://www.facebook.com/AsquithSpices/ Address: 377 Pacific Hwy, Asquith NSW 2077 Phone: (02) 8833 1181 Fictional Characters – introduction. Future true crimes and story telling to appear on this blog.

25:00 Steve Papermaster – an introduction to our new villain direct from the White House, Washington DC.

26:00 Steve Papermaster – #whoisstevepapermaster according to Steve.

26:15 audio issues – check again soon. 26:30 Steve Papermaster – #whoisstevepapermaster according to those who’ve been had?

26:30 Steve Papermaster – #whoisstevepapermaster according to those who’ve been had – Mozido Inc v Steve Papermaster – for more information click here: https://www.dcpartners.solutions/2022…

27:50 Steve Papermaster – #whoisstevepapermaster according to those who’ve been had – according to the trustee / liquidator of Agillion Inc – for more information click here: https://www.dcpartners.solutions/2022…

28:30 Steve Papermaster – #whoisstevepapermaster “legendary spending spree”.

29:30 Steve Papermaster Enablers – #whoisstevepapermaster and who is his team of enablers?

30:00 Steve Papermaster Enablers – #whoisstevepapermaster and who is his team of enablers – Leonie Hill Capital / Arun Kant.

30:15 Steve Papermaster Enablers – #whoisstevepapermaster and who is his team of enablers – Gordian Group, Peter Kaufman / Fred Zeidman.

30:30 Steve Papermaster Enablers – #whoisstevepapermaster and who is his team of enablers – Ernst & Young / EY Entrepreneur of the Year Scam, Angela Plaisted, Andrew Jordan, Stasia Mitchel, Alison Kay, Wendy Fox.

31:50 Steve Papermaster Nano Cures – #whoisstevepapermaster and his covid cure and treatment – Steve’s email re covid treatments.

33:05 Steve Papermaster Nano Cures – #whoisstevepapermaster and his covid cure and treatment – Steve’s email re Leonie Hill and other investors.

33:40 Steve Papermaster Nano Cures – #whoisstevepapermaster and his covid cure and treatment – Steve’s email re Leonie Hill and other investors – Investor Document.

34:40 Steve Papermaster Nano Cures – #whoisstevepapermaster and his covid cure and treatment – watch Steve’s amazing corporate video.

44:55 Steve Papermaster – introduction wrap up.

45:40 Steve Papermaster – introduction wrap up – Ernst & Young continued.

46:40 S2E1 – closing wrap, what’s to come in Season 2.

49:30 credits, closing and tipoffs / how to contact us.

51:10 closing music.

If you’ve got any questions then give us a call 1300 32713 or go to our bottom right hand corner instant message us or instant chat with us on www.dcpartners.solutions

Leave a Reply – nothing defamatory will be permitted, all comments moderated. Spam will not be approved.

Transcript

rogues rascals reviewables rorts rip-offs receivers real estate agents and much much more this is the many r’s podcast season 2 episode 1 this is mark smith from dc partner solutions if you've got any questions give us a call anytime 1300 327 123 or instant message chat with us at our website www.dcpartners.solutions - use the instant message chat tools in the bottom right hand corner thank you

well hi i'm mark smith from dc partner solutions a little bit about me this is season 2 episode 1 of the many r’s podcast. i've actually been running this podcast since 2020 but before that i've been writing a book about westpac and how they cheated me out of maybe 20-25 million dollars so that was a really brutal experience but i've since gone on to have 3 beautiful children uh a long and happy marriage uh so many different life experiences i've studied i've got an MBA i've now got got from the university of sydney a law degree uh a very very coveted law degree called a Juris Doctor, uh i've been a company director here in australia singapore and thailand uh many many different experiences in life, employed lots of people, fired lots of people, run litigation uh been involved in insolvencies uh been involved in corporate restructures all sorts of things, uh i am now living in western sydney um i travel throughout australia. sorry i live in western sydney and spend some of my time here in a beautiful property on Mt Canobolas at orange or just near orange in country NSW. i'm blogger i've never been sued for defamation so that's rather interesting but i've studied law i'm familiar with the laws here in australia new zealand and singapore and i will fund litigation for the right projects, i have a um i'm involved in companies with credit licenses and what's called AFSL, an australian financial services licences. i've done some property development i've done extensive consulting as i said i've had 3 children they're all adults now and some have gone through uni. lots of life experiences so i'm here to help here listen i'm here to help um available most days until late on 1-300-327-123 or you can instant chat with me um some of the time not all the time i do uh clock off occasionally but you can instant chat with us at www.dcpartners.solutions/podcast.

so in this podcast we look at uh a whole bunch of R’s - rogues rascals rorters rorts rip-offs reviewables, they're what we call those that we've got an open mind about whether we're decided that they're you know rorters or ripoff artists or maybe we're unsure so we look at a whole bunch of other categories uh real estate agents as i said miscellaneous other bad guys in society, travel rip-offs, government malfeasance, iffy lawyers, insurance racketeers, bankers especially the westpac ones and receivers, liquidators administrators and all sorts of others that uh come to our attention. 

well we now turn to uh well we now turn to real estate agents and developers and i'm not sure if this guy is in the category he's an R that's for sure, his name's raymond. raymond john gulliver and uh well he was some sort of real estate advisor uh he worked alongside another real estate agent called david vereker and another r robert robert miles. he's a he's also a lawyer and raymond um held out that he was a partner in a company called pegg capital operated by two fellows uh andrew smith, absolutely no relation and hugo driemeyer i think that's how we pronounce it and uh it's a partnership apparently um but uh when you look a little closer uh is it so we've set up this website on the illustrious mr raymond john gulliver you can find if you're looking for raymond he's at 39 when gala road riverview and he lives there with his lovely wife uh jennifer gulliver a very very successful woman, the house is 100% in jennifer's name so i don't know what raymond's contribution is there but that's where we found him a number of times when we had to serve him so on our website you can google raymond john gulliver dc partners and you'll find our website raymond was bankrupted declared insolvent bankrupted on the 1st of february 2022 and to date i i understand he has not complied with any of the applications or any of the obligations to provide income statements or assets liabilities and so who knows what he's got to hide here's some some happy snaps of raymond we'll just go through a few this this is a photo of raymond in cambodia i think it is maybe vietnam and uh raymond is here and next to him is a chap called which will come to another pegg another big fellow then we've got some officials from the countries of uh cambodia and vietnam and and others and there they are the pegg partners looking very trustworthy wouldn't uh wouldn't hurt a flea um ray gave out these business cards uh pegg - private equity gateway pegg pegg gateway private equity gateway um if you do a search now apparently there are head offices in malta but back in the day they were an australian company with offices in brisbane sydney melbourne hong kong hong kong presumably was uh was raymond's office and uh raymond once upon a time worked for a news corporation loved to go the horses in hong kong and apparently very unsuccessful punter, um ran a company called jagbo proprietary limited

but gave out a business card saying he was a partner of pegg and no doubt pegg knew this and held him out that he was their partner and pegg being a partnership there's his mate david vereker a real estate agent uh besties absolute besties these guys david vereker that's a name um you may have heard david once upon a time is a very good tennis player professional tennis player i understand and if you've heard of the name mcgurk then you may have read this vereker’s father was um having uh coffee or whatever there's no suggestion that he's involved but he was having coffee with mr mcgurk on the day of his death very unfortunate that um and mr mcgurk was friends with mr medich, um adam tilley, there's a name we haven't heard for a little while um and mr uh vereker apparently uh having started with hopes of 14 million mr vereker sold a residence of mr tilley's tilley’s to pay back loans to mr mr medich um mr tilley's um home was apparently firebombed very very um strange so um his father richie vereker now i have a feeling kate mcclymont may have written about um mr mr richie vereker uh former hotelier had lunch with mr mcgurk on the day he was um shot so that's um um all very coincidental anyway um we've got david vereker and uh raymond gulliver besties so um there's david vereker’s number oh jennifer so that's mrs gulliver mrs gulliver i think mrs gulliver may well be a very big successful um marketing executive was it qantas it may well be a rebel sports or somewhere like that now uh this is a mr zeeman that uh raymond and mr vereker uh david vereker was suing for i don't know 10 million dollars um something like that for unpaid commissions now entirely unsuccessful but they managed to pay some money into the court in hong kong they were suing this mr zeman for you know many many millions of dollars so there's our david vereker and we're back to the start uh what other documents we've got here let's just have a look ah yes so um back in the day um raymond um raymond managed to um hoodwink a uh one of his clients where he worked one of pegg's clients i should say pegg's client was rid of vince's proprietary limited uh and one of these um unhappy campers here in this photo was ripped off and apparently the sum of $327,973 was allegedly appropriated into a bank account for raymond john and jennifer uh gulliver that's very nice $327973 of a client's money of pegg’s client's money goes into raymond and jennifer's um gulliver's bank account although that's what that's what the letter says it turns out the bank account does not belong to raymond and jennifer um so s raymond isn't uh the account's not in raymond's name so whether it's in jennifer's name or someone else's name uh time will tell but this i'm merely reporting that this letter dated the third of june 2011 states that uh $327973 dollars a red earth ventures uh money is going into pegg's um partner mr gulliver and his wife's uh bank account now i say absolutely uh to the best of my knowledge that account is not held by raymond and jennifer so it could be that it's held by neither raymond nor jennifer it's it's certainly a mystery who belongs to it but uh $327,973 was apparently moved from stojanovich's trust account at the direction of raymond gulliver of pegg partners to an account which he said was his and his wife's and that was the last of the red ventures 327,000 so what i can say is that

what i can say what i can say is that pegg and its chairman albert cheok i'll give you the exact spelling of that he's a malaysian or singaporean man uh very distinguished very impressive uh cv um we'll put up some of his cvs mr cheok uh and andrew smith just want nothing to do with this they want to they want nothing more to do with their former partner uh raymond gulliver they say that he was never a partner despite him having business cards and uh despite there being plenty of letters going out uh saying that he was their partner so let's have a look at some of those letters so this is a company profile pegg premium pegg premium private equity gateway group the partnership apparently and uh pegg corporate now there's no mention of malta here um it's just that uh they are very impressive uh consultancy and advisory company i mean in real estate apparently uh doing all sorts of work for lewis land these are very impressive marine owners, meridian mariners raising 200 million dollars all sorts of big companies and they're very impressive and then they send out raymond and they say that he's their partner and these are past transactions all chinese investors pegg backs for, wow that sounds impressive, so if you're a cambodian or vietnamese and uh look at all these people that um pegg say that they're dealing with uh sale of 300 lots subdivision at morayfield, 84 townhouses, 24 million apartment at ephraim island, now that's on the gold coast somewhere, uh marinas sale, sale of hong kong's blue chip commercial building, sale of one of macau's most prestigious casino land holdings setting a record price i wonder if that's the one for mr zeeman and um i wonder if david vereker and raymond were involved in that one that certainly sort of sounds very familiar current and this is this is to the best of our knowledge this looks very very much like an official pegg uh document company profile it certainly uh persuaded the vietnamese and cambodians to part with 327000 into raymond and jennifer's personal bank account or so they thought um had the direction of you know their partner uh their advisors pegg premium private equity gateway so when when they have such an impressive track record it's it's unsurprising that people would trust them pegg agree currently is mandated for over 500 million dollars of aud transactions pegg resources pegg energy andrew smith he's a businessman entrepreneur and philanthropist hmm andrew so this is as a 2012 now albert cheok is is now the chairman but uh andrew smith is still involved in hugo driemeyer i hope i've pronounced that correct driemeyer both entrepreneurs huge and diverse investment portfolios how wonderful so what an impressive company no mention about malta certainly well actually there's no mention about brisbane even but certainly mention about the hong kong office now tim holmes that's the chap in the photo with the with the happy vietnamese cambodian officials uh former director of savilles, prd colliers, tim was instrumental in managing sales in excess of 1.5 billion in the last seven years beginning his career at prd so wow what an impressive impressive person executive partner raymond gulliver it's it's just hard to imagine that this document wasn't handed out to tim holmes and raymond gulliver and their clients and uh tim holmes must have known that uh he was the ceo of pegg premium ceo so whereas raymond was the partner executive partner and um wow

what a career so associated delivery partners uh and here they all are so minter ellison, queensland law group, law associates, lewis land it's it's just the who's who so uh there we are oh brisbane there we are so direct contacts so um raymond hands this document to his vietnamese and cambodian clients tells them that uh he's a partner and look there's the names of the business owners andrew smith hugo driemeyer, the ceo tim holmes uh they're all there and um but um oh let's do a let's just have a quick look at this company search so private equity gateway proprietary limited that's that's pegg

registered in 2007

so it certainly had the correct name it was incorporated at the very relevant time and there's the officials the company offices andrew john smith absolutely no relation uh lawson road, draper queensland and hugo edgar dreymeyer from uh born in south africa and they're both the directors and secretaries and you can see that um all the shareholders donna and tim donner and tim holmes they're in there for a few shares then you've got one so pegg one is um the company owned by hugo and andrew

so

that's a little bit of a appetite appetizer for um some of the people involved um raymond gulliver david vereker, the tennis great, the vendors agent for adam tilley, robert miles their lawyer um, PEGG capital andrew smith 

now we're just going to go and have a look at a very interesting bloke called stuart jones and he's um he's an agent of some 35 years experience, unfortunately he has fallen onto hard times and um had to sell his entire business his real estate business over in perth to his daughter uh so who better to sell it too and um well he sold the house to her that's that's jade jones, they sell the house to her as well and geraldine um participated in the sale to their daughter … she looks very young i don't know where she got the money from but she looks she certainly doesn't look old she certainly doesn't look like she's got 35 years of experience so maybe stuart and geraldine had jade at a very young age so let's have a look at um well stuart so he's running the he's got 35 years of real estate experience but it doesn't mention here that he's accomplished sales professional enthusiastic service the team of experienced sales executives are setting record prices but doesn't mention here that he's insolvent very very unfortunate but very unfortunate paul stewart um

poor stuart

poor stuart of course stuart's had to um appoint he just had to file a debtors petition and ask the court to protect him in bankruptcy so anyway maybe um maybe jade and geraldine and stuart can update their website now um it doesn't mention here but uh geraldine is also apparently facing insolvency highly experienced estate agent entering the industry in 1982 but i can't say anything about insolvency for her there either so um oh oh that's another one having worked in the local industry since 2001 geraldine has forged some long-term relationships hmm

so a tricky use of words anyway uh geraldine she looks like a lovely lady there she won't return any of my calls unfortunately so um wanting to avoid uh wanting to avoid some of her obligations so if you happen to see uh geraldine could you ask her to give me a call that'd be lovely thank you 

the next one uh the next of our real estate people to profile there's a guy called benjamin todd daniel, very interesting chap he's um runs a company now until recently they did actually have a 1 300 number if you if you can get this uh if you can get ben to answer this phone you're doing incredibly incredibly well uh ben doesn't want to talk to me either so if you could get ben to if you happen to be speaking to ben i'd love to hear for him to give me a call um the it seemed that they 1300 number four group buyer had to get cut off so uh maybe that's um that's maybe that's no good now group buyer it's easy it is interesting group buyer is owned by not just benjamin todd daniel um benjamin todd daniel from barroway road, wentworth point. but there are some other owners there - dr peter vickers proprietary limited of albury and luke paul hayes. so it seems that dr peter vickers and luke paul hayes of a unit 33 tower street at manly um have some sort of investment uh 48% something like that in this company called group buyer, so it's the power of people um and benjamin todd daniel owns the rest of them so um it suggests that there's a paid up some here of about twenty one thousand dollars so that's very very interesting so um

group buyer um group i can't pay it's 1300 number to keep the phones on and it owes one of my clients some money as well so we'd be quite keen to talk to stuart geraldine and benjamin type daniel, if you happen to see any of them would you ask and give us a call

lawyers - now i'm not going to say a great deal about this man but his name's tim horne he once was a very good friend of mine, so i thought, there's some photos that i'm just going to put up here of tim we had many many coffee together, tim was um someone that i trusted and um he worked at aqua law for his brother back in happier days um his brother's a decent guy, he really is, his brother's name is ben horne and uh it seems that tim and ben had a falling out and they've gone in separate ways they don't talk apparently, and apparently tim's forgotten that he was my lawyer for those 2 years and um tim, my argument with him, is that he's now acting against me, advising clients against me so that might cause some ethical problems?  if you're a client of tim's um you might like to get a letter confirming that you're a client of tim's and um and you know just not disclose just not dispose of that letter? 

the where are they now section - well we're just going to give you some links to one of our favorite favourite people it's a couple of our favorite people bernard and fiona hall and the company caernarvon cherry and we've been following them for quite some time and um caernarvon cherry and their related company caernarvon canobolas proprietary limited which is in liquidation, it uh was very very unsuccessful and the the judge um awarded uh quite a large sum against bernard and fiona and their company caernarvon cherry now it is apparently being appealed so watch this space. but uh for those that might be interested we include a link down below to the judgment in the uh in the case that was bought by the brother of bernard and fiona um and caernarvon canobolas and they were all business partners so if you are interested in reading that judgment i will provide a link down below 

well followers of the many r’s podcasts would be very familiar with the name greg walker and macarthur projects they would be familiar with these companies the archibald project up in um gosford and another notorious company called 131mvr which stands for 131 mona vale road uh that's a development project up in St Ives.

there were some very very unkind things said about that particular project by fair trading new south wales and um well greg walker macarthur projects and one and archibald have fallen on difficult times and uh the archibald project was apparently sold uh for around $32million dollars we're told which is apparently quite a good price? but um that's no longer proceeding under under uh greg walker's stewardship nor macarthur projects and sadly very very sadly macarthur projects is um he's in liquidation as well so i didn't pay some didn't pay head contractors up there in or whoever the contractor was up there in uh gosford and um so that's that's a very difficult time 

ralph uh all we're gonna say about ralph um is that uh apparently ralph is no longer in uh in melbourne he's no longer at his mum and dad's place uh and he's spreading his wings all across sydney?  and has opened up a wonderful little business called asquith spice? 

now i'll give you the address for asquith spice might be looking for ralph they may be able to find him at 377 pacific highway asquith and apparently he's got absolutely nothing to do with this company called genesis pacific enterprises pty ltd which is owned apparently is very heavily connected to the bottle shop there and uh if you can't find ralph at asquith spices you may well find him at the bottle shop there it's about 397 pacific highway asquith so i'm told ralph has ralph has got nothing to do with that company although it's uh ralph and his son are apparently working there? so if you're looking for ralph um send me my love, uh he's a lovely guy and uh i wish him all the best that asquith spices and should ralph go into business setting up other spice shops around sydney i wish him all the best with those as well 

fictional characters well um what can i say it's uh, fictional characters what can i say um look i've been urged uh i've had quite a lot going on this year um uh it's it's now the 22nd of august um i've had quite a lot going on uh this year and uh some well look i'll talk about it um perhaps in another episode but um i have been encouraged by a number of people to tell more and to tell more stories and um

my line of work has uh involved um meeting some very interesting people let's put it that way and um but there's also some obligations of um finality that um need to be respected but also it would be somewhat crazy to go and um talk very very frankly about some of the things that i know and um that have happened and so i'm just very careful i get um you know quite a lot of letters from different people and messages from people and i sometimes even get the odd demand from lawyers and uh some of the people that i've written about uh have been far less than happy about uh some of the things they've been written about them so um one of the ways to tell some stories maybe based on real events maybe not um just i just need to leave a little bit of mystery there um that uh i'm certainly giving some serious thought to telling some stories about some uh characters that um

could or could not be based on real people that that i know or have met or whatever so look uh in coming episodes we might start to develop some of these stories as well throughout season two and season three and season four and so on of this podcast so you watch this space thank you 

all right well we're now moving on to uh the centerfold the centerfield of uh the dcp solutions website and uh how many are this is our current centerfold and it's a guy called steve g papermaster and uh steve g papermaster and his company nano global, nano vision, nano whatever you want to call it now anything um so uh who is steve papermaster well he's not even an australian but this guy has come to our attention and uh he um well we're going to ask who is the papermaster it's a very very good question and let's perhaps perhaps perhaps there is two stephen papermasters it's this steve that steve spins but there's also what others say and it's going to came to our attention um i don't know whether to say through a fictional character or someone else but uh someone someone that we've come across um uh ended up being a victim let's just say a victim of um this steve papermaster and his investment scheme and um well let's let's see what others say about steve papermaster and then um well we'll first look at what steve says and um so let's play this 

Molecular bonding is what we need in vaccine development? Papermaster was …. 

wow how impressive? steve is a guy that knows how to beat covid19? my god uh where do we sign up um uh that's now who do you reckon right that spin um do you think the journalist write that or do you know do you think steve um provided a list of talking points? this is who i am. read this will you? and uh wow 

now what do other people say about steve? you know people that have actually met him and done business with him what do they think well let's have a let's have a look at a few of these uh well let's have a look at mozido inc and steve papermaster and um this is uh from a court case uh a real court case and fought a few years ago and this is um

this is what the defendant says now i'm sure that there's always two sides to the story that uh the defendants say uh steve's not some genius that worked in the white house and all of this and by the way the people that i know that um have claimed to be a victim of steve's they don't see him as a genius that worked in the white house either but um let's just see what this is so the defendants led by paper master promised to provide mozido a leading global payments platform with substantial opportunities to expand in the china market however that promise turned out to be part of an intricate fraud that that defendants perpetrated in order to swindle mozido out of millions to lure mozido into the trap the defendant's touted and you know and it goes on and on and on and on 

okay so that's that's one disgruntled party um and that's a few years ago 

let's let's now have a look at uh a trustee, that's what we call liquidator here in australia, steve papermaster uh and other executives squandered assets and this is going back a few years ago six of agillions uh former topic executives have been sued by bankruptcy trustee for the legendary spending sprees that bankrupted one of the most well-financed and well-known high-tech startups in austin. 

whoa so that's a little bit different um the person's charged with um

so this article talks about how agillion, steve's company burned through 60 million dollars in less than three years 

now that you've got to admit there's talent there um wow 

so um i mean i just love this article i think it's incredible and this is another side to steve 

so uh that you know you don't you don't hear of when uh when you're given the talking points um agillion um they had about $100 bucks in the bank, uh 15 months before they had 30 million dollars in the bank, so um and for all of that um money that they've spent they had a few dozens of subscribers? i mean this is legendary and i mean i think you've got to go to the white house uh for this sort of legendary um stuff so uh they bought ads in the super bowl, they spent $500,000 uh taking um their staff uh on a little trip on a pep talk, uh a team bonding session, there i say um they took a 10 year lease on a building for 30 million dollars, they opened an office in australia when they had like 13 customers back in the united states? uh on a super bowl night uh back a few years ago um they threw one hell of a good party - 168 bottles of wine at a restaurant!!!! 

i mean whoa and we're going to have a look at i mean this is this is a guy

wow i just don't know what to say this is very very impressive so um let's have a look at some of his enablers i mean uh to to get away with doing some of these things you really need a team this is you know this couldn't possibly be a solo effort and uh this this guy is i mean he's great so uh these are some of the names that have helped him and we're gonna have a look at over this um particular season we're gonna have a look at some of the people that have enabled this guy to get away with some of the stuff and um i'm going to show you a video in a moment and it is so special it is so special but he's been helped if that's the word he's been helped by bankers and funds managers and and all sorts of people but ernst & young - they probably take the absolute cake 

so um so these are some if you want to know a little bit more just google steve papermaster or steve papermaster enablers and uh you'll get to see some of these enablers uh the ceo of a company called leone hill capital uh that's arun kant um he's been helped by the gordian group now they've been fantastic uh one of um there's a whole bunch of beautiful photos in here uh peter kaufman he's the ceo or president or something of the gordian group 

oh no i don't think he's the president, that's a guy called fred zeidman who's um you know king of the jewish lobby in the united states and good mates with um good mates with george w bush on the fundraising committees and blah blah blah blah 

so um angela angela plaisted it at ernst and young there's uh there's a cast of thousands of thousands at ernst & young. 

this is fred zeidman 

andrew jordan of ernst & young, now the main well i'm not sure it's the main but it's certainly one of the um one of the key pieces of um enablement if you like and uh i mean that's an interesting word 

but um steve uh steve has even gone on to super yachts in uh in in in monaco and places like that um to as a guest of um ernst & young … ernst & young … they trot him out and they say wow this guy's a legend.  They (ernst & young) don't i don't think they say anything about oh how he blew 30 million dollars and um you know run companies into the ground um uh elaborate frauds or intricate frauds (mozido allegation) i don't think there's much about that in the spiel in the ernst & young spiel, but my god um these are some of the people that enable him, stasia mitchell ernst and young. alison kay, they run this thing called the ernst and young …  i love ernst & young, i mean i've had things to do with them, i think they're a reputable firm and but then for them to be absolutely blind to who this guy is i actually put him on the ernst & young entrepreneur of the year uh judging panel!!!! 

um uh wow and uh they say well this is this is the guy to follow 

uh wendy fox of ernst & young, um there's some profiles here of some of the people that have have helped him out 

now we're gonna have a look at some more documents and uh what can i say what can i say but i think before that i think we need to have a look at this video and i mean i've i've ONLY got a law degree and an MBA - all right i must be a complete idiot - because i have no idea what the hell this guy's talking about??? 

let's have a look at this this is the steve papermaster covid spiel and uh work out if you can work out what the hell he's what the hell he's promising that he's got and um well let's just have a look now uh i've got to show you this this email um this is an email that he's written to uh one of the victims um in april 2020, now that's right at the start of covid, 

uh dear blank, now i won't say i have actually changed this i've pulled out the two section i pulled out the date and the time so uh i suspect he's probably sent this to all of his victims but 

dear blank 

i look forward to talking to you soon i wanted to get you a summary of the core nano products which are scaling up in the market for treatment and prevention of covid 19. coronavirus treatment he's got … 

this guy claims he's got a treatment for covid 19. 

now uh pfizer it's ….

this is a company called …. you've never heard of uh uh what's yeah anyway a treatment for covid 19. 

oh my god i mean and this is sent by steve now if this is bullcrap just just go ahead and sue us 

okay because uh this is this is the sort of crap that he sends out um we are close uh now leonie hill here's another email uh we are close now this is in january 20. we are closing an important license small acquisition oh we are closing we are closing and we'll close and we'll close the preferred equity round with leonie hill and other investors 

so did leonie hill invest a nickel?? no no no no didn't arun kant got heaps of other people to invest money but didn't invest a single cent themselves??? uh other investors i'm not sure we are closing an important licence so did they no no so um let's well i think we should have a look at this investor document 

now this is an investor document that they sent out uh to some actual suckers that did invest uh and they say well they know here's the ceo and it tells us it tells us about this acquisition and that uh henry i poor bastard i can't pronounce you soon henry legere, my apologies to you henry if that's not how you pronounce it um $300million dollar uh post-money valuation target, $55million institutional investors, and up to $25million uh to select reliant and nano family office/friends / family and friends … the family and friends round now it says here that leonie hill and mark cuban and others they're all investing really, so did they invest no use of proceeds what we're going to buy is the integration of reliant and uh henry legere is he's our president he's gonna be the president and did they

and you know i'm actually told that this absolutely went nowhere near like there wasn't even talks there was nothing serious so uh they claim that they're going to be the leader in global in-app health and wellness 

um so let's without any further ado let's go and have a um listen to steve's own words about his covid cure, well steve papermaster let's let's hear from the horse's mouth, so to speak and uh i'm going to give you a commentary as we're going through and uh trying to decipher some of this crap that's um that's spewing out of his mouth? so let's without any further ado let's let's have a let's have a listen and see if we can figure out what the heck he's talking about???

our vision for nano has been simple but powerful from day one nano is here to heal and shield the world our vision heal and shield the world and this is uh one year ago so this is uh he's talking about covid - aim high steve. 

is to be able to have an immunity platform for the world that allows us to detect protect and predict pathogen-led outbreaks all the way up through pandemics 

so steve's going to predict predict pandemics and pathogen outbreaks is i mean this thing cannot move without him his knowing right and he's going to protect the world and heal it 

to develop the technologies from drug development vaccine level through preventative technology 

so he's developing the technology through vaccine level now i've never heard of the nano vaccine for covid 19 but stay tuned 

you know through a digital data to be able to develop uh real-time effective cures and 

effective cures in real time 

in real time he's going to he's got the technology in real time to produce effective cures 

effective treatments 

people's lives are at stake literally by the second by the nanosecond more than ever in the world today it's a real tragedy um a human tragedy of enormous scale and societal impact with covid-19 and it won't be the last one 

and so oh so he knows about the future ones as well okay so what's coming next after covid 19. okay beautiful 

so we want to do our part to accelerate take the benefits of our innovations and technology from the vaccines into the surrounding 

so we're going to take the benefits of their vaccines and apply it and make squillians okay 

we want to invest in this areas of technology and get it to billions of people 

oh and he's going to spread it out to billions of people so forget about pfizer novavax uh astra zeneca - nano right 

all over the world as fast as we possibly can in the development of of our nano cures which 

he's got his nano cures so some sort of microscopic cure that he's got it all figured out includes the vaccines 

and therapeutics we are taking the specific vaccine candidates that were in development prior to the covid 19 outbreak and refining it for covid 19. 

so he's got these cures that were from before covid 19 and he's going to refine them and apply to covid 19. 

we have clinical trials uh they're in process now clinical trials 

okay that's why we haven't heard um they're in clinical trials 

and seeks and fast track regulatory approval fda and fda equivalent 

oh okay so it's the government's fault okay right because there's seeking fast tracking globally 

get that delivered to people and in the market as quickly as we can in the late second quarter or early third quarter and that is very very fast especially for this type of 

now look at this cure it's just racing across the globe 

vaccine which is an extremely stable very low cost vaccine 

an extremely stable vaccine low cost now in a minute he's going to tell us that you don't even you can just stick it in the fridge 

not require ultra high levels of cold chain storage like mrna vaccines need 

so this is better than all that crap you know all that pfizer stuff it's much better you can keep it at what is normal refrigerated temperatures

this farker’s actually keeping a straight face, like i think he actually believes all this stuff 

in order to deliver that vaccine which is critical in many parts of the world that do not have the sophisticated levels of it 

ah okay so he's talking about the developing world here where you know uh where there isn't coal chain logistics well um he's going to spread his cure around i don't know billions of people wow we want to invest in this company 

infrastructure available the other big areas that we are developing are different delivery mechanisms so that you can take a vaccine that we've developed and use it as a spray on your skin 

oh you just spray it on i wonder if this is like those erectile things you just sniff it or something you know and you know um you're cured from covid?

more patch on your skin or nasal spray or an oral vaccine and after that of course we've got we've got in development in parallel a universal pan corona virus vaccine that is intended to provide immunity for any future forms of chromovirus-based organisms 

a pan-corona vaccine that's going to wipe out everything so anything that comes all the next variants and all of that he's already got it sold for pathogens as well as potential mutations from 2019 oh okay so all the deltas the omnicrons and all of that he's got it all figured out 

Nano cure is a technology that is specifically engineered to get 

so this is a soap company? 

give us very safe defective compounds that we can apply as a fierce uh antimicrobial antiviral that can attach to our skin and surfaces that will attract and destroy on contact dangerous pathogens 

so it's going to attract the virus and then destroy on contact like some sort of scary laser this is star wars or something right sometimes refer to it you can see the bacteria coming wow 

it is sunblock or sunscreen for germs it means that somewhere between hours and 24 hours on your skin and on general surfaces that can be weeks months or even longer until 

longer than months so you just got to spray this on some surface and wow it's just protection so this is the ultimate protection racket wow and lasts for even longer than months on your skin and on surfaces 

is disrupted we are all exposed all the time if we have any semblance of normal life the ability to cut the transmission the contagion in many cases by 90 plus percent

in many cases by 90 percent 

90 plus percent 

so you pay your money to steve and um snake oil bang this is like the magic snake oil 

that level of prevention is on par with the profound impact of having widespread nanosense vaccine technology piece of our platform 

oh here we go so this is his technology 

that we have architected to essentially be the operating system if you will of molecular level data what we're breathing what we're touching are those things that 

wow i love it we 

come and contact you on our exterior body or into our lungs and synthesize the data analyze the data through our sensors 

so he's got some magic piece of plastic but you plug it in you pay you pay your license fee and it just tells what pathogens are in the air or whatever and does it send out an alarm to send out an sms who knows let's keep let's keep watching 

using our nano center technology we can actually see from a standpoint of analyzing is there the presence of or the likely presence of certain germs certain pathogens like covid19 or others that are or could be dangerous we're still early on in the development 

oh so it's not just limited to covid uh it's the other more dangerous things wow and i mean the mind the mind just boggles 

development we will be rolling out in product forms rapidly over the next one to two years time is of the essence in just the next four to eight quarters we expect to be active really in every region of the world we'll have 

wow every region of the world is going to be active with uh with this guy's technology 

a manufacturing capability we'll have regional delivery just in the course of the next 12 to 24 months we will have our presence 

oh okay so they're going to send their packages out through south africa and on to indonesia and australia wow 

and they're also going to get there so they're going to send stuff through the democratic republic of congo then send it over to nairobi and then on to india or pakistan or somewhere and they'll be sending something through libya, from somewhere over here so where's that

who knows uh memphis i'd say uh send it through libya and then on to china? okay well that sounds pretty good and from memphis uh through to that looks like the south of france so they've got some hub in the south of france and then on to kazakhstan? that looks good let's uh let's keep going um but they're sending it from mexico to um where is that you know is that chile?

in most major regions in the world directly with partners you can never have too many fantastic partners when you're trying to partners we're going to have a partnership 

so that's perhaps uh how our guys got involved and lost money with this guy??

bring this kind of technology and this type of care to the world

so he's bringing this type of technology and care to the entire world so um let's let's just contemplate that for a second

so that's something to whet the appetite for …. for the rest of uh season 2 we're going to have a look at this guy uh steve papermaster and nano and his white house exploits and and more so let's have a look at that throughout the rest of the uh uh the season 

i will let you in on the secret though uh the the ending 

i'm going to spoil the surprise, uh nano is uh um the company that uh took i don't know 20 30 50 million dollars from investors uh the cure for all this wonderful technology is just all bull crap and it's it's just all ended up in the toilet there was no merger there was no technology there's no license there was no uh fundraising by mark cuban and arun kant and leonie hill capital - just all absolute bull crap so uh and who can forget ernst & young and the EY entrepreneur of the year?  

now i mean this is entrepreneur of the year stuff 

this is entrepreneur of the century stuff by mr papermaster 

yes um steve is still on the illustrious panel of uh judges for the EY entrepreneur of the year 

so um who was the genius at ernst & young that thought wow we've got to keep this guy on the judging panel? 

and if you google steve papermaster about the third thing that comes up is uh the EY entrepreneur of the year 

yeah steve just absolutely spins this to the max and so he's on a great deal and who knows what sort of uh kickbacks or whatever, maybe that's the wrong word? um engagements, who knows what sort of engagements that ernst & young get out of these nano companies? and you know, i dare say that funds from investors …  have plenty of funds have ended up in the in the coffers of ernst young?? and uh you know, maybe i'd love to know which new marble foyer is being built now with steve papermaster money? in which offices of ernst & young (are the marble foyers being installed???) - i'd love to know 

so what's this space

so look, in closing we've got an exciting season 2 uh in front of us 

we've got a little bit happening in the real estate space uh we've even got leasing activity with uh our mate ralph paligaru so we're going to be watching asquith spices and see as he rolls out uh that strategy right across sydney?

um we've got miscellaneous others 

we're going to follow jetstar and see what other complaints come in 

uh we'll be monitoring uh some in the in the legal sector 

uh we haven't got any insurance racketeers just yet but uh we're always open 

um we may well write uh some things about our bankers in the fictional uh in the fictional department so that we can be a little bit more explicit but tap into our creative touch and our creative that creative space and get the story out we won't necessarily get sued by any of the people involved so that'd be very nice uh 

and we'll see what uh develops with uh receivers and liquidators um now - we've got uh stuart jones from perth property group uh and his daughter jade and his wife geraldine so we'll see what happens there, stuart’s got a wonderful uh trustee in bankruptcy and we'll be following others no doubt into that space and of course when we say others well we're talking about um steve papermaster our centerfold will be following 

uh the oh raymond gulliver sorry the real estate expert there's lots and lots and lots to discuss there with raymond gulliver uh we may even find out who owns the bank account that um uh was swollen with $327000 dollars of loot uh and it wasn't raymond and jennifer that's we know that we know that they're not the owners of that account but we don't know who is so all apologies uh jennifer completely innocent we may even see raymond's um statement of affairs uh since he's in bankruptcy so that's very interesting 

um but we're coming back to uh steve papermaster now there's lots of lots and lots of stuff there i'm going to talk about how ernst & young are wonderful enablers how the gordian group fred zeidman and others just look the other way when it comes to you know losing 30 million or 50 million they're there for steve they're there for steve and in his hour of need the covid cure you never know you never know you might even see something about the uh nano covid cure so that's an exciting season 2 

uh coming our way uh we might even touch on greg walker and see where he's up to um uh we didn't really get to talk about macarthur group macarthur properties uh macarthur projects dare i say and um where's 131mvr up to? 

so there's so much to go through in the rest of season 2 and we've got many many surprises particularly in the fictional storytelling department we've got some characters well uh they may be uh they may resemble uh people that um you've heard about uh there may be facts and you know bits and pieces uh of the story that unravel throughout the rest of season 2 

so that's something to whet the appetite for 

i hope you will if you've got any questions do give us a call 1-300-32723 

my name's mark smith or jump online www.dcpartners.solutions/podcast and instant chat with us in any time of day or night uh whether that's american time - hey we love tip-offs so if you know any of these people that are involved and you've got documents or any information that you'd like to share with us jump on the instant chat tools and uh you can send us documents uh send us bits and pieces there's a tip off form um about steve papermaster just google steve papermaster uh enable enablers um and if you want to uh tell us about some of these enablers some of the things that ernst & young get up to on his behalf we'd be only too happy to know more and share that with our viewers so that's it signing off mark smith www.dcpartners.solutions/podcast instant chat with us or call us until late most nights 1300 327 123. thanks very much bye

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Caernarvon Canobolas Pty Ltd (in liquidation) – NSW Supreme Court Case 2018/340546

Biteroit - Caernarvon Cherry

 [2022] NSWSC 382

published 29 August 2022

Decision extracted and sourced from: https://www.caselaw.nsw.gov.au/decision/17ff234b71f1540bb837f52a#

Medium Neutral Citation:

In the matter of Caernarvon Canobolas Pty Ltd (In Liq) [2022] NSWSC 382

Hearing dates:20 – 23 July and 10 – 11 August 2021

Decision date:05 April 2022

Jurisdiction:Equity

Before:Ward CJ in EqDecision:

1.   The appeal be allowed.

2.   The liquidator’s determination to admit the proof of debt dated 15 November 2019 submitted by the second and third respondent be set aside and the proof of debt be rejected.

3.   The second and third respondents pay the costs of:

(a)   the applicant and the first respondent of and incidental to the amended interlocutory process in this proceeding; and

(b)   the applicant and the first respondent (including liquidation costs, expenses and liquidators’ remuneration) of and incidental to the submission, consideration and determination by the liquidators of the proof of debt dated 15 November 2019 submitted by the second and third respondents.Catchwords:

CORPORATIONS – Winding up – Proceedings against company – Where debt disputed – whether parties reached agreement that costs of renovations would be recorded as a loan against the company

EVIDENCE – Documentary evidence – Business records – whether records were contemporaneous or issued retrospectively

ESTOPPEL – Promissory estoppel – Existing or expected legal relationship – whether the Company accepted or acquiesced to a benefit to the detriment of the second and third respondents

EQUITY – Equitable remedies – RestitutionLegislation Cited:

Corporations Act 2001 (Cth), ss 286, 477(2B), Schedule 2

Evidence Act 1995 (NSW), ss 48, 57(1), 58(1), 69

Supreme Court (Corporations) Rules 1999 (NSW), r 14.1(5)

Trustee Act 1925 (NSW), s 81Cases Cited:

Angas Law Services Pty Ltd (in liq) v Carabelas (2005) 226 CLR 507; [2005] HCA 23

Australia and New Zealand Banking Group Ltd v Westpac Banking Corporation (1988) 164 CLR 662; [1988] HCA 17

Australian Competition and Consumer Commission v Air New Zealand Ltd (No 1) (2012) 207 FCR 448; [2012] FCA 1355

Brick & Pipe Industries Ltd v Occidental Life Nominees Pty Ltd (1992) 6 ACSR 464; [1992] 2 VR 279

Briginshaw v Briginshaw (1938) 60 CLR 336; [1938] HCA 34

Broadway Plaza Investments Pty Ltd v Broadway Plaza Pty Ltd [2020] NSWSC 1778

Brodyn Pty Ltd v Dasein Constructions Pty Ltd [2004] NSWSC 1230

Capital Securities XV Pty Ltd (formerly known as Prime Capital Securities Pty Ltd) v Calleja [2018] NSWCA 26

Capocchiano v Young [2013] NSWSC 879

Commercial Union Assurance Company of Australia Ltd v Ferrcom Pty Ltd (1991) 22 NSWLR 389

Commonwealth v Verwayen (1990) 170 CLR 394; [1990] HCA 39

Damberg v Damberg (2001) 52 NSWLR 492; [2001] NSWCA 87

David Securities Pty Ltd v Commonwealth Bank of Australia (1992) 175 CLR 353; [1992] HCA 48

DHJPM Pty Ltd v Blackthorn Resources Ltd (2011) 83 NSWLR 728; [2011] NSWCA 348

Doueihi v Construction Technologies Australia Pty Ltd (2016) 92 NSWLR 247; [2016] NSWCA 105

Effem Foods Pty Ltd v Lake Cumberline Pty Ltd (1999) 161 ALR 599; [1999] HCA 15

El-Saafin v Franek (No 3) (2019) 143 ACSR 452; [2019] VSC 155

Falcke v Scottish Imperial Insurance Co (1886) 34 Ch D 234

Farah Constructions Pty Ltd v Say-Dee Pty Ltd (2007) 230 CLR 89; [2007] HCA 22

Federal Commissioner of Taxation v Cassaniti (2018) 266 FCR 385; [2018] FCAFC 212

Fitzgerald v F J Leonhardt Pty Ltd (1997) 189 CLR 215; [1997] HCA 17

Gregg v The Queen (2020) 355 FLR 348; [2020] NSWCCA 245

Grundt v Great Boulder Pty Gold Mines Ltd (1937) 59 CLR 641; [1937] HCA 58

Herdegen v Commissioner of Taxation (Cth) (1988) 84 ALR 271; [1988] FCA 699

Hill v Esplanade Wollongong Pty Limited (subject to a deed of company arrangement) [2018] NSWSC 478

Hutchinson v Sydney (1854) 10 Ex 438

In re Bailey, Hay & Co Ltd [1971] 1 WLR 1357

In re Express Engineering Works Ltd [1920] 1 Ch 466

In re Oxted Motor Co Ltd [1921] 3 KB 32

In the matter of Azmac Pty Ltd (In Liq) (2020) 146 ACSR 113; [2020] NSWSC 204

In the matter of Hillsea Pty Limited [2019] NSWSC 1152

Johnston v McGrath (2008) 67 ACSR 169; [2008] NSWSC 639

Jorden v Money (1854) 5 HL 185

Legione v Hateley (1983) 152 CLR 406; [1983] HCA 11

Lumbers v W Cook Builders Pty Ltd (in liq) (2008) 232 CLR 635; [2008] HCA 27

MYT Engineering Pty Ltd v Mulcon Pty Ltd (1999) 195 CLR 636; [1999] HCA 24

Parker & Cooper Ltd v Reading [1926] Ch 975

Pavey & Mathews Pty Ltd v Paul (1987) 162 CLR 221; [1987] HCA 5

Re ACN 096 281 542 Ltd (in liq) [2018] VSC 425

Re Duomatic Ltd [1969] 2 Ch 365

Re St Gregory’s Armenian School Inc (2015) 109 ACSR 27; [2015] NSWSC 1465

Rickard Constructions Pty Ltd v Rickard Hails Moretti Pty Ltd [2004] NSWSC 984

Rosseau Pty Ltd (in liq) v Jay-O-Bees Pty Ltd (in liq) (2004) 50 ACSR 565; [2004] NSWSC 818

Ryan v Dries [2002] NSWCA 3; (2002) 10 BPR 19,497

Spencer v The Commonwealth (1907) 5 CLR 418; (1907) 14 ALR 253

Sutherland (in his capacity as liquidator of Sydney Appliances Pty Ltd (in liq)) v Robert Bosch (Australia) Pty Ltd (2000) 33 ACSR 680; [2000] NSWSC 32

Tanning Research Laboratories Inc v O’Brien (1990) 169 CLR 332; [1990] HCA 8

Waltons Stores (Interstate) Ltd v Maher (1988) 164 CLR 387; [1988] HCA 7

Watson v Foxman (1995) 49 NSWLR 315

Westpac Banking Corp v Totterdell (1998) 20 WAR 150; (1998) 29 ACSR 448

Winterton Constructions Pty Ltd v Hambros Australia Ltd (1991) 101 ALR 363Texts Cited:

P L Davies, Gower and Davies’ Principles of Modern Company Law (7th ed, Sweet & Maxwell, 2003)Category:Principal judgmentParties:Timothy Hall (Plaintiff)
Bonny Glen Fruits Pty Ltd (First Defendant)
Bernard Hall (Second Defendant)
Bonny Glen Trading Pty Ltd (Third Defendant)
Caernarvon Canobolas Pty Ltd (Fourth Defendant)
Melrose Park Nashdale Pty Ltd (Fifth Defendant)
Frederick Charles Hall (Sixth Defendant)
Pamela Therese Hall (Seventh Defendant)Representation:Counsel:
D Smallbone with A Smyth (Applicant)
A Spencer (2nd and 3rd Respondents)

Solicitors:
MC Lawyers & Advisers (Applicant)
Matthews Folbigg Pty Ltd (2nd and 3rd Respondents)
File Number(s):2018/340546

Publication restriction:Nil


JUDGMENT

  1. HER HONOUR: By amended interlocutory process filed on 5 November 2020, the applicant (Timothy Hall) appeals from the decision of the liquidators of the first respondent (Caernarvon Canobolas Pty Ltd ACN 089 276 808 (In Liquidation), to which I will refer as the Company) to admit a proof of debt dated 15 November 2019 that was lodged by the second and third respondents (Bernard and Fiona Hall) on 26 November 2019. In that proof of debt, Bernard and Fiona claim the sum of $800,000 as due under an oral loan agreement alleged with the Company. Timothy seeks to set aside the determination of the liquidators (who have been joined together as the fourth respondent in the proceeding). The moneys claimed in the proof of debt relate to expenditure made by Bernard and Fiona on the Homestead occupied by them (rent free) on land then owned by the Company in Canobolas, New South Wales (the Canobolas Property). Fiona and a company associated with Bernard and Fiona have since acquired the Canobolas Property.
  2. The appeal is a hearing de novo, brought pursuant to s 90-15 of Schedule 2 to the Corporations Act 2001 (Cth) (Corporations Act), the Insolvency Practice Schedule (Corporations), (see Hill v Esplanade Wollongong Pty Limited (subject to a deed of company arrangement) [2018] NSWSC 478 at [21] per Gleeson JA). There is no dispute between the parties as to the principles that apply to such an appeal (see Re ACN 096 281 542 Ltd (in liq[2018] VSC 425 at [6] per Randall AsJ; El-Saafin v Franek (No 3) (2019) 143 ACSR 452; [2019] VSC 155 at [63] per Lyons J; In the matter of Azmac Pty Ltd (In Liq(2020) 146 ACSR 11; [2020] NSWSC 204 at [41] per Rees J); although there was some dispute in submissions as to the question of onus.
  3. Bernard and Fiona point to authorities to the effect that the party appealing against the liquidator’s decision (here, Timothy) bears the onus of showing that the decision was wrong; and that, if the onus is not discharged, the liquidator’s decision stands (see Westpac Banking Corp v Totterdell (1998) 20 WAR 150; (1998) 29 ACSR 448 at 451; Brodyn Pty Ltd v Dasein Constructions Pty Ltd [2004] NSWSC 1230 at [32]-[33] per Young CJ in Eq; Capocchiano v Young [2013] NSWSC 879 at [46] per Kunc J; Re St Gregorys Armenian School Inc (2015) 109 ACSR 27; [2015] NSWSC 1465 (Re St Gregorys Armenian School)). Timothy, on the other hand, says that the liquidators did not turn their minds to the question of contract, and did not accept that there was a restitutionary claim (T 367.24-48). Moreover, Timothy says that there is a lack of contemporaneous record or other satisfactory corroboration of the existence of a contract, which he argues places the case “squarely in Watson v Foxman territory” (referring to the oft-cited decision of Watson v Foxman (1995) 49 NSWLR 315). Timothy submits that the effect of this is that Bernard and Fiona bear the onus of establishing the proposition for which they contend in their points of claim (T 25.43).
  4. The relevant issue to be determined on an appeal such as this is as to whether the liability claimed or referred to in the proof of debt is a true liability of the company enforceable against it (see Tanning Research Laboratories Inc v OBrien (1990) 169 CLR 332; [1990] HCA 8 at 339-340 per Brennan and Dawson JJ). On such an appeal, the party claiming to be a creditor of the company (here, Bernard and Fiona) is not strictly confined to the allegation(s) by which it originally sought to advance the proof of debt; it being said that “[a]s long as the claim remains the original claim, some change in the explanation of the way in which it is said to be a true liability of the company enforceable against it is permitted” (Johnston v McGrath (2008) 67 ACSR 169; [2008] NSWSC 639 at [26] per Barrett J; and see Rosseau Pty Ltd (in liq) v Jay-O-Bees Pty Ltd (in liq(2004) 50 ACSR 565; [2004] NSWSC 818; Re St Gregorys Armenian School).

Background and chronology of events

The family business

  1. For convenience, I will generally refer to the Hall family members by their first names. The applicant (Timothy) and the second respondent (Bernard) are brothers. Their parents (Fred and Pamela) established a fruit growing business near Orange (operating through a number of companies and from a number of properties located in two adjoining districts, Canobolas and Nashdale, on either side of the Towac Valley). The first such property was known as the Bonny Glen Property. The fruits that were grown, packed and sold were principally apples and cherries (see [5] of Timothy’s first affidavit sworn 16 April 2021).
  2. Timothy started working in the family orchardist business full time in 1978. Bernard, who is around eleven years younger, commenced work in the family business either in 1989 (on Timothy’s version of events – see Timothy’s 16 April 2021 affidavit at [6]) or a few years earlier when aged 16 (on Bernard’s version of events). Nothing turns on the difference in the respective versions of events in this regard.
  3. In about 2004, Bernard and his wife, Fiona, incorporated their own company (Caernarvon Cherry Pty Ltd) through which they traded separately from the family business. (It appears that the operation of this business was a cause of some disagreement between the brothers – see, for example, Timothy’s first affidavit at [30]).
  4. Prior to 2007, the main trading company for the family business was Bonny Glen Pty Ltd; after 2007 (when Fred and Pamela retired from the business) a different company, Bonny Glen Fruits Pty Ltd, was the main trading company (see Timothy’s first affidavit at [12]). The Company owned the land and improvements at the Canobolas Property but did not trade.
  5. From 2007 (until 27 November 2018), the family business (known as Bonny Glen Fruits) was largely operated by Timothy and Bernard, who also controlled the various companies associated with the business, although their parents are said to have maintained some ongoing (informal) involvement in the business. From 2011, Timothy and Bernard each owned 50% of the shares in the Company.

The Nashdale (or Melrose) Property

  1. In 1992, the Nashdale Property (referred to in some of the evidence as Melrose) was acquired jointly by Fred, Pamela, Bernard and Timothy. This property was adjacent to a property known as Brooklyn (that property itself being adjacent to the originally acquired Bonny Glen Property).
  2. In around 1997, the Nashdale Property was subdivided to create a parcel of six acres which was transferred (at no cost) to Timothy and his then wife, Jennifer, who then built a house on the land. (It is noted by Bernard and Fiona that Bernard received nothing for his interest in that portion of land.) The parcel of land transferred to Timothy and Jennifer (known as Melrose Park) was subsequently sold by Timothy and Jennifer in 2001, following the breakdown of their marriage. Following his separation from Jennifer (apart from a short time at the Bonny Glen Property), Timothy resided (and from 2004 did so with his wife, Robyn) in Melrose Cottage, which was located on the main Nashdale Property, until about 2019.
  3. In around 2007, Timothy and Bernard bought Brooklyn from their parents and in 2013 they jointly acquired another property in Nashdale (see Bernard’s first affidavit sworn 19 April 2021 at [44]-[45]).
  4. Timothy has, as I understand it, largely controlled or managed the Nashdale side of the family business operations; Bernard and Fiona, the Canobolas side of the operations.

Canobolas Property

  1. The Canobolas Property was acquired by the Company in September 1999 for $630,000. The Company was formed for the purpose of making that acquisition. On its incorporation, each of Fred, Pamela, Bernard and Timothy was a director of the Company and each held one of the four issued shares. In 2010, Fred and Pamela retired as directors and in 2011 Bernard and Timothy each acquired one of their parents’ shares. Accordingly, by the time of the events in question, each of Bernard and Timothy was a 50% shareholder of the Company. As adverted to above, at all relevant times the operations of the family business that were conducted on the Canobolas Property were managed by Bernard and Fiona.
  2. From late 1999, Bernard and Fiona have resided in a house known as “the Homestead” located on the larger of the two lots (Lots 10 and 11) comprising the Canobolas Property. On the other (smaller) of the two lots is a packing shed housing the relevant equipment and other infrastructure for the processing and packing of the fruit grown in the family business (and also, as I understand it, in Bernard and Fiona’s separate cherry growing business); as well as an office.

Corporate compliance

  1. For the most part, compliance with the corporate and regulatory requirements of the companies through which the family business was conducted was carried out with the assistance of an accountant (Mr Desmond Lee), who travelled to Orange from Sydney once a year with relevant company documents to be executed following the holding of formal meetings with the directors and shareholders (such meetings being held, first, at Fred and Pamela’s house (on the Bonny Glen Property) and then at the Canobolas Property).
  2. Bernard and Fiona describe these company documents as “vanilla” corporate governance documents (T 8.4). They point out that the minutes of company meetings were prepared in advance by Mr Lee, who brought them with him to the annual meetings; and they contend that therefore that the minutes could not (unless, I would add, later amended) reflect any matters discussed at the relevant meetings. They also point out (correctly) that the company documents are replete with errors – from time to time identifying the directors wrongly; being signed by people who were not directors; and recording persons who owned no shares as attending in the capacity of shareholders (see T 8). Thus, it is said that the brothers cannot carefully have reviewed them. It is submitted (and there is some force in this submission) that the holding of meetings and recording of minutes for the various companies associated with the business were matters treated by family members as a formality.
  3. Bernard and Fiona describe Mr Lee as more than just an accountant. They say that he was a trusted adviser, who advised the family members as to the structures to be put in place for or in relation to the business and as to their personal and corporate tax affairs. That may well be the case but, as I explain in due course, that does not to my mind cloak Mr Lee with authority to bind any of the family members or the Company in their dealings with each other.
  4. Timothy (see from [35] of his 16 April 2021 affidavit) describes the typical yearly meetings with Mr Lee, including that there would be separate meetings with the shareholders and directors of the relevant companies from those in relation to personal tax matters or meetings relating to “Caernarvon Cherry related matters”. Mr Lee’s evidence as to those matters is consistent with that of Timothy on this issue.

Deterioration in the relationship between the brothers

  1. At some point there was evidently a deterioration in the relationship between the two brothers (although there is some contention as to when this commenced). Timothy places this as occurring from about the late 2000s, from which time he says that he and Bernard were estranged and only saw each other a few times a year (see at [33] of his affidavit dated 16 April 2021). As adverted to above, it appears that this (if not wholly attributable to, then at least) may have been exacerbated by the establishment by Bernard and Fiona in about 2004 of their own separate cherry growing business from the Canobolas Property. Fiona herself says that the relationship between Timothy and Bernard became “toxic” but places this as occurring in 2016 after a heated argument between the brothers in that year (see Fiona’s first affidavit sworn 19 April 2021 at [30]; and see notes dated 8 February 2017, apparently made by Timothy having regard to their content, in which there is reference to an issue as to the poor delivery of the spray programme). Consistent with this note, Bernard places the deterioration in the relationship as occurring by 2017.

Desire of Bernard and Fiona to renovate the Homestead

  1. The Homestead was originally built in about 1910. By 2012, Bernard and Fiona, who then had three young children, wished to renovate the house (which they say was in need of significant repair). As noted, by that time Bernard and Timothy were the only directors and shareholders of the Company, which owned the Canobolas Property.

14 September 2012 meeting

  1. Featuring prominently in the evidence and submissions were two meetings, the first of which is said to have taken place on 14 September 2012 at Fred and Pamela’s house during a lunch (or perhaps morning tea) attended by Timothy, Bernard and Fiona, Fred and Pamela (see Bernard’s first affidavit at [144]; Fiona’s first affidavit at [79]). It is not suggested that Mr Lee was in attendance at that meeting. Indeed, Mr Lee’s evidence is that he was not present in Orange on 14 September 2012 (being in attendance at an all day meeting with another client in Sydney) and he did not know if there had been a meeting on that day (see at [32] of Mr Lee’s first affidavit sworn 19 April 2021).
  2. Bernard has deposed (at [144]) that, at this lunch, there was a discussion about the family business, during which there was the following conversation:

[Bernard] said:   Fiona and I want to renovate the Homestead to fix some issues and make the house bigger for our kids. We have the money, and can use our own, but we are worried about what will happen if the Company ever sells or transfers the house. We want to make sure that we can get that money back if the Homestead is ever sold or transferred.

Tim said:   Before you think about renovating, why don’t you look at subdividing the lot like I did at Melrose. If that doesn’t work then you can do the renovations.

[Bernard] said:   Okay, Fiona and I will look into that and let you know how it goes.

  1. Bernard has deposed that, following that conversation, Fiona and he attended a consultation with Mr Peter Basha, the town planner, about a possible subdivision; and that Mr Basha subsequently advised them that the Council would not permit the subdivision because the packing shed (on the smaller of the two lots) was on an industrial lot and that they could not combine that back with the main lot (see Bernard’s affidavit at [146]-[147]).
  2. Fiona’s account of this discussion (see from [79] of her first affidavit) is that the conversation occurred at a morning tea with Bernard, Timothy, Robyn, Fred and Pamela at the Bonny Glen Property. Fiona deposes that she took notes of the discussion because Mr Lee had earlier said to Timothy and Bernard that they needed to begin having meetings and recording the discussions; and that, as Mr Lee did not attend this meeting she took a record for Mr Lee (see at [81]). Fiona also deposes that at the beginning of the discussion she asked everyone’s permission to take notes and that Pamela approved this (see at [84]).
  3. Fiona has deposed that Bernard raised that they wanted to undertake renovations of the Homestead in words to the following effect:

Bernard said:   We need to do some work to the Homestead because the old electricity is dangerous and we now have 2 young children and a Toddler. We want to renovate but it’s going to cost a lot because it’s an old house and like opening a can of worms, so our money needs to be recognised. We need bathrooms, a new laundry, electricity, new bedrooms, proper heating and such.

Tim said:   Why don’t you go and look at other ways first like look at buying Armstrong’s [next door neighbour’s at Melrose] place or buying another house somewhere.

Pam said:   Or why don’t you see if you can move the title and get 6 acres like Tim did? You’ve got these little kids and need something sorted as we just had a cold winter and the place is freezing. Something needs to be sorted.

Bernard said:   Okay, we’ll look at other options.

  1. Fiona also deposes to a consultation with Mr Basha about the proposed subdivision and to Bernard’s account of the Council’s position shortly after that consultation (see [88]-[90] of Fiona’s first affidavit), which is consistent with Bernard’s recollection.
  2. Bernard and Fiona refer to the above evidence and say that they told those present at the meeting that they were prepared to use their own funds to pay for the renovations at the Homestead but wanted to be able to recover those funds if the Company or the property was ever sold. They also say that Timothy said that, if the Canobolas Property could be subdivided and a small block transferred to Bernard and Fiona, he would consent to the subdivision and Bernard and Fiona could build a new home on the subdivided block. (The above summary by Bernard and Fiona of the conversation does not wholly accord with their affidavit evidence; in which they attribute to Timothy suggestions about other options such as buying another property or subdivision but not consent in terms to the subdivision option.)
  3. Fiona’s handwritten notes of the meeting of 14 September 2012 (which she says, but Timothy and Mr Lee seem to dispute, she took at the meeting) record the presence of Timothy and Robyn, Bernard and Fiona and Pamela and Fred; that the meeting went from 9am to 10.30am; and, among other things, that:

–   House @ Caernarvon

B&F expressed wanting to renovate house but for $ sunk into place to be recognised.

Tim suggest to look @ other options.

  1. At the conclusion of the notes there appears an entry in a different coloured pen. This page of the notebook was followed by a printed document headed “A snapshot as of 13th September 2012”, which appears to correspond to the entry in the handwritten notes “Fiona gave snapshot of season to date (enclosed)”. This suggests that at least part of the notes (such as the pasting of the printed note into the book) was compiled after the meeting. Immediately following the second page of the pasted typed sheet are handwritten notes headed “Monday 1st October 2012” starting in a blue pen and then changing to a black pen. There was a suggestion that one of the entries “follow Des up 400k” was in Bernard’s handwriting (T 110.40). The following page (whimsically headed Maggie’s minutes) was obviously a child’s scribblings.
  2. Timothy (see at [56] of his first affidavit) deposes that he does not recall the entirety of the conversations concerning improvements to the Homestead and cannot be sure when each conversation took place, or in which years, or the order of the conversations or exact words used. Timothy did recall one of those conversations (at [59] of his first affidavit) (which he says was in the dining room at his parents’ house during an annual visit of Mr Lee) in which he says that Bernard said that the house was very cold in winter and they needed to update the heating (which he says he queried but then, after Bernard said they needed heating, to which he said “OK”); and that during one of the annual meetings Bernard said words to the effect that the house needed to have new heaters put in and that they wanted to do a new bathroom (see at [63]).
  3. Bernard and Fiona submit (at [33] of their written submissions) that the parties’ accounts of what happened at this meeting (and the subsequent 16 May 2013 meeting) should be read in light of the fact that what occurred at the meeting was specifically pleaded in their Points of Claim and put in issue by Timothy’s Points of Defence. Essentially, Bernard and Fiona submit that Timothy’s denial that the two meetings occurred as they described is not supported by his own evidence of what occurred at those meetings. This submission appears to be directed towards the argument that Timothy has failed to discharge the onus of proof to support a finding that the liquidator’s decision was wrong.
  4. To this end, Bernard and Fiona emphasise that, in his first affidavit, Timothy gave no specific evidence about the meeting of 14 September 2012 and conceded that he did not “recall the entirety of conversations that took place concerning improvements to the house at [the Canobolas Property]”. (As noted, there is no suggestion that Mr Lee was at the meeting of 14 September 2012.)
  5. In his second affidavit sworn 17 May 2021, Timothy responded to various aspects of the affidavit evidence of Bernard and Fiona with which he disagreed. It is noted that Timothy did not traverse [144] of Bernard’s first affidavit (set out above) but that he did reject those parts of the conversation recorded in Fiona’s account (see above) that referred to “electricity, Melrose or Armstrong’s property” and instead deposed to having suggested a different property. Bernard and Fiona emphasise that Timothy did not specifically contradict that part of the conversation in which Bernard expressed the aim that their expenditure of funds be recognised. (Pausing here, what is not here made clear is precisely how it was contemplated by Bernard that their funds would be recognised; nor is it suggested that Timothy agreed to any such arrangement at this meeting. I also interpose to note that Bernard and Fiona do not suggest that any agreement was reached at this meeting; rather, they rely on this as context or background.)

Prospect of Subdivision

  1. As noted above, Bernard and Fiona depose that, following the 14 September 2012 meeting, they explored the prospect of a subdivision of the Canobolas Property (by speaking with Mr Basha, the town planner) and that they were advised that it would not be possible. They say that Timothy was aware of that (a reference seemingly to the account given by Bernard of the conversation on 16 May 2013 – see below).

16 May 2013 meeting

  1. The second of the two meetings on which Bernard and Fiona here place emphasis (and at which they say a binding agreement was reached) was a meeting that took place on or about 16 May 2013 during one of Mr Lee’s annual visits to Orange.
  2. Mr Lee deposes that the meeting took place at Fred and Pamela’s residence; and he describes in his affidavit a series of meetings on this day (see from [35]).
  3. First, a meeting of the Bonny Glen Fruits Pty Limited Group (attended by Timothy, Bernard and Fiona) to review the financial accounts and taxation for the financial year 2012 and interim accounts for 2013 and for the signing of the 2012 accounts and financial returns, at which meeting he deposes that Fiona said words to the effect that they currently needed better heating at that Homestead and Timothy said he had no problem with them improving the heating. Mr Lee did not recall anyone taking notes on that occasion.
  4. Second, a meeting with Timothy alone in which Mr Lee presented to him the company’s financial statements and taxation returns and personal returns for the financial year ending 30 June 2012, following which meeting he says Timothy immediately left the house, saying that he was taking the documents home to Robyn so that they could sign them (and Timothy returning later in the afternoon with signed documents).
  5. Third, while Timothy was out of the house, a meeting only with Bernard and Fiona to review their entities’ financial statements taxation and personal returns for 30 June 2012.
  6. Fourth, a meeting with Pamela and Fred for them to review and sign their own company’s financial accounts and their personal tax returns.
  7. Mr Lee did not see any minutes book or hard-bound blue book (Exhibit 12) on that day (see at [44] of his affidavit of 19 April 2021). He deposes that he did not add any further resolutions to the formal draft minutes that he had prepared in advance for the Company meeting and that he was not asked to prepare any such notes or minutes. Mr Lee did, however, earlier depose that at some meetings he saw Fiona take notes (see at [20]).
  8. Relevantly, at [64] of his affidavit of 19 April 2021, Mr Lee deposed that at none of the yearly meetings had he heard that Fiona or Bernard wanted to claim reimbursement from the Company for the costs of the renovations for the Homestead. (That is consistent with their account being that they wanted some unspecified recognition in the future of their expenditure.)
  9. Bernard’s evidence of the meeting was that it was at a lunch at the Caernarvon Cottage with Fiona, his parents, Mr Lee and Timothy. Bernard deposes that the conversation was to the following effect:

[Bernard] said:   We spoke to a town planner and they won’t let us subdivide the lot. We still want to update the Homestead and extend it, so we want to go ahead with the renovations. How do we go about that?

They said:      Where will you get the money from?

[Bernard] said:   We can pay for the renovations ourselves or through Caernarvon Cherry, but we want all the money we put into the Homestead to be recognised if the place is ever sold or transferred to someone else.

Des said:   You should also get a valuation before you do the renovations, and then another valuation after so you can see how much the Homestead is improved. It could be important if you need to pay some tax on it in the future.

[Bernard] said:   Okay, we can do that. But more importantly we want to get our money back that we put in, so we want the money we spend on the renovations to be accounted for by the Company somehow.

Des said:   Okay. Keep your receipts so that we can see how much you spend on the renovations and we can put that in the records of the Company as a debt owed to you and Fiona. Then the Company can easily pay you back if the Homestead ever sells. We can also make sure that you get paid interest, for example at an interest rate equivalent to the change in the Consumer Price Index until you are repaid.

[Bernard] said:   That sounds like it does everything we want, let’s do that.

Des said:      Does everyone agree to doing it that way?

Tim said:      Yeah, I’m okay with that.

  1. Bernard has deposed that he saw Fiona writing in the minute book during that meeting and identifies in his affidavit the notes of that meeting.
  2. Fiona’s evidence is that this meeting was at “another lunch” with Bernard, Timothy, Fred and Pamela, at Pamela and Fred’s house at Bonny Glen, for the purpose of going over the accounts and financials with Mr Lee who had travelled from Sydney. Fiona says that the meeting was while sitting around the kitchen table and that there was a discussion in words to the following effect:

Bernard said:   We’ve been told we can’t do a subdivision so we’re back to the drawing board and want to renovate 474 Canobolas.

Armstrong’s place want too much money and we want to stay on the property and don’t want to be living at Melrose and working at Caernarvon. Either way, it isn’t an option to build another house on Caernarvon because we’d have the same issues with wanting the money to be recognised because it would be Company land. So, we think we may as well renovate the Homestead.

Tim said:   Okay.

Bernard said:   We aren’t asking for money, just asking if we can spend own money on the place because we would be doing large scale renovations. How can we have our money recognised?

Des said:    Keep all your receipts so that we can see how much you spend on the renovations and I’ll put that on the books of the Company. Each year we can add the CPI to the amount you’ve spent and it’ll be on the books as a loan. But if you do overcapitalise [sic]

Bernard said: Okay let’s do that. That’s fine, we will be responsible if we overcapitalise.

  1. Fiona goes on to depose that she is unable to recall whether the subject of valuation was raised at the 16 May 2013 meeting or whether it was raised in a later discussion but that, at some point after the 16 May 2013 meeting, she was present at a conversation between Timothy and Bernard in words to the following effect:

Des said:   Get a valuation before you do the renovations, and then another valuation after that so that you don’t overcapitalise.

We said:   Okay, if we do then that’s our money and we will be responsible for that.

  1. Fiona says that Timothy agreed with that proposition (at [94] of her first affidavit sworn 19 April 2021).
  2. Bernard and Fiona say that an agreement was reached at this meeting that they (Bernard and Fiona) would fund the renovations to the Homestead and that, if the property was ever sold, the Company would repay those amounts together with interest at a rate equivalent to the CPI. They say that it was also agreed that the amounts so expended would be recorded in the accounts of the Company as a debt owed to Bernard and Fiona. (Both Timothy and Mr Lee dispute this. For Timothy, it is said that this amounts in effect to arguing that the Company would give Bernard and Fiona a “blank cheque” to spend whatever they liked on the property and that this is implausible – see T 360.31. It would certainly be inconsistent with the attitude that Timothy appears to have displayed throughout the proceeding to the issue of expenditure by his brother.)
  3. As adverted to above, there were in evidence some handwritten notes made by Fiona (contained in the blue book – Exhibit 12) headed “Meeting Thurs 16th May 2013”, recording as present Timothy, Bernard, Fred, Pamela and Fiona but also referring to a presentation by Mr Lee. The notes (on which there is some scribble in a different colour pen) include that:

Bernard spoke of Renovations required at Caernarvon house. Des advised to keep records of amounts spent so that amounts will be recorded & owed to B & F & increased in CPI’s.

  1. Bernard and Fiona emphasise that both their affidavit evidence and the notes record a conversation in which there was a discussion about the renovations, the money to be spent, and the amounts being recorded and owed to Bernard and Fiona. Bernard and Fiona note that, in response to that affidavit evidence, Timothy did not traverse the relevant paragraphs of Bernard’s affidavit (at [149]-[151] of his second affidavit sworn 17 May 2021) and, while specifically dealing with two other aspects of what was said, did not contradict Fiona’s account of what was said in relation to the recognition of their expenditure. Similarly, it is said that, while Timothy dealt specifically with inaccuracies in Fiona’s notes, he did not suggest they were inaccurate insofar as they recorded conversations at this or the earlier meeting.
  2. It is noted by Bernard and Fiona that, in his first affidavit, Mr Lee gave a lengthy account of what took place when he visited Orange on 16 May 2013 and the order in which he conducted the meetings on that day (as summarised above) but deposed to only one conversation that occurred on that day; whereas he gave a detailed account of a conversation on 26 March 2014 concerning proposed renovations to the house at Canobolas and the way in which Bernard and Fiona might be reimbursed for moneys expended (see below) (at [51] of Mr Lee’s first affidavit sworn 19 April 2021).
  3. In Mr Lee’s second affidavit sworn 17 May 2021, his response to [150] of Bernard’s affidavit is that he did not say the words attributed to him by Bernard nor did he hear Timothy say that “Yeah, I’m okay with that” (and Mr Lee affirms that his memory of that conversation is as set out at [51]-[53] of his 19 April 2021 affidavit). As to [92] of Fiona’s first affidavit, Mr Lee deposes that he does not recall this conversation occurring during the lunch at Fred and Pamela’s house on 16 May 2013 “or at any other occasion. Bernard and Fiona say that there is an obvious similarity between that conversation and the one recounted at [51] of Mr Lee’s first affidavit – both accounts refer to Mr Lee’s suggestion that the renovation costs be recorded as a loan in the company records and that CPI adjustments be made; however, it is noted that only Mr Lee deposes that he said items were to be approved by Timothy and Bernard.
  4. Further, Mr Lee cavils with the statement by Fiona at [93] of her first affidavit that an agreement had been reached. Mr Lee asserts that he did not hear words of agreement or that there was an agreement; rather, he deposes that there were options discussed (but his recollection is that this was at the 2014 meeting rather than at the 2013 meeting).
  5. In oral submissions, it is said for Bernard and Fiona that, at the 16 May 2013 meeting, the Company (by representations and statements by Timothy and Mr Lee) “bound itself to treat amounts which Bernard and Fiona were to spend on renovations for the Company’s house as loans in the books of the company to carry interest” (see T 6). Insofar as Bernard and Fiona rely on statements by Mr Lee, there is nothing on the evidence to support a conclusion that Mr Lee had any authority to bind the Company; at most, his statements would be relevant to the extent (which is debatable) that it could be said that Timothy (by silence or otherwise) had adopted them.

Credit issues specific to the two meetings

  1. As to the two relevant meetings (the 14 September 2012 meeting and the 16 May 2013 meeting), on the question of credit Bernard and Fiona point to the following matters.
  2. First, that in their affidavit evidence both Mr Lee and Timothy sought to convey the impression that the yearly meetings were conducted with a formality that elevated the significance of the absence of entries in the minutes and financial records recording what took place at the meeting of May 2013; yet Mr Lee conceded that there was no separate meeting of the shareholders of the Company and that neither Timothy nor Bernard had ever raised for attention the fact that some of the documents which they had executed indicated the wrong directors and the wrong shareholders nor had they ever asked him to add further resolutions to the Company’s draft minutes.
  3. Second, that Timothy was quite frank about his lack of specific recollection in relation to the meetings; nevertheless, it is said that he sought to minimise the length of the meetings and that he denied some very obvious propositions about them (including that the bulk of the time spent in the meetings concerned the operations of Bonny Glen Fruits and that Fiona attended that meeting). It is noted that Timothy insisted that he reviewed the minutes that he signed to ensure the details were correct, when it is said that they were replete with errors that would have been obvious on any such review (see, for example, minutes of the meeting of directors of the Company on 10 December 2012, which record the four family member as directors when Pamela and Fred had ceased by then to be directors; and of the shareholders meeting of 31 December 2012 which display a similar problem).
  4. Third, that Mr Lee gave generalised evidence about how the meetings were conducted (which Bernard and Fiona say no doubt reflected the many similar meetings that he had conducted with the family). It is submitted that it should be inferred that the meeting of 16 May 2013 followed the pattern which Mr Lee described in general terms in cross examination. However, Bernard and Fiona say that when it came to specific matters Mr Lee’s recollection was less impressive, noting that Mr Lee recalled only one short conversation about renovations at the meeting of 16 May 2013 with the aid of his affidavit. It is submitted that that recollection is to be considered in the light of Mr Lee’s complete lack of recollection when cross examined in relation to the conversations regarding the renovations that he had detailed at [51] of his first affidavit and the recollections set out at [6], [7], [8] and [12] of his second affidavit sworn 17 May 2021. Indeed, it is noted that Mr Lee could not remember what he had said of those matters in his affidavit sworn only three months before the hearing.
  5. Fourth, that in cross examination Bernard confirmed the existence of a verbal agreement whereby the company would repay the amounts expended for renovations or improvements on the property; readily made concessions; and confirmed that his wife took notes. Bernard and Fiona say that the accounts of the two meetings given by Bernard and Fiona are supported by contemporaneous notes made by Fiona. Insofar as it was put to Fiona that the relevant note was made after the event in an attempt to reconstruct, it is noted that Fiona rejected that suggestion. Bernard and Fiona say that the facts do not support that serious contention, referring to the objective evidence which showed that Fiona attempted over a number of years to ensure that notes were taken at meetings when the business of Bonny Glen Fruits was discussed (pointing to her blue book which contains notes of meetings on 14 September 2012; 1 October 2012; 16 May 2013; 26 March 2014; and 1 December 2015) and that there is contemporaneous evidence that Fiona asked Ms Leanne Pearce (who worked for Bonny Glen Fruits) to assist in keeping the minutes of the meetings (pointing to the copies of Leanne Pearce’s notes of meetings on 22 October 2015 and 5 June 2016).
  6. Pausing here, I do not accept that a conclusion that the notes were not all made during the actual meeting would necessarily connote some dishonest reconstruction of events. It is more plausible to my mind that the notes are an amalgam of jottings made at around the time of the meeting (potentially, some made before, some during and some after the meeting) rather than being wholly a verbatim note or summary of what was said that was taken during the meeting itself.
  7. Finally, in this context it is said (and I would accept) that the “patchwork” nature of these records speaks to their authenticity. It is said that the probabilities are that, if Fiona had intended to concoct a record reflecting consistent contemporaneous note taking and relevant notes, she would have collected all that material in the one place and using the one style (and most likely would have also protected this most valuable record from her young daughter’s scribblings).
  8. Therefore, I accept that the notes are genuine though not necessarily completely contemporaneous, and, moreover, they may record Fiona’s understanding as opposed to what was in fact said.

Arrangements for renovation works

  1. Bernard and Fiona say that, after the 16 May 2013 meeting, preparatory work for the renovations to the Homestead commenced (later in 2013). Bernard and Fiona arranged to have sketches made prior to drawing up plans (which they place as occurring about six months before they began the renovations – see [107] of Fiona’s first affidavit); paid to have plans drawn up (by McKinnon Designs – the plans being drawn from sketches taken on about 28 February 2014 – see [108] of Fiona’s first affidavit); sought out John Nunn Building Contractors Pty Ltd (John Nunn Building Contractors) and obtained a quote for the major part of the building works (which they place at approximately 26 March 2014 – see Fiona’s first affidavit at [114]); and they signed a contract for the major building works (on 22 May 2014), the contract noting drawings from McKinnon dated October 2013 (see contract provision regarding the drawings; and Fiona’s first affidavit at [115]).
  2. Bernard and Fiona also make reference to contemporaneous documents (see below) which it is said show that, shortly before signing the building contract, Fiona had communicated with Mr Michael Thornhill (a financial consultant who undertook some financial consulting work for Caernarvon Cherry at the time) as to clarification being sought that “personal funds you [Fiona] and Bernard/Caernarvon Cherry Pty Ltd [Bernard and Fiona’s company] have available will be used to pay for the house renovations, and there will be an adjustment done to square things up with Tim”. (To my mind it is significant that this leaves open how the adjustment was to be effected.)

Meeting on 26 March 2014

  1. Mr Lee has deposed (see from [47] of his first affidavit) to a meeting at the Bonny Glen Fruits Pty Ltd administration office in Orange on 26 March 2014 to discuss the financial statements for the Group and the signing of the Group financial statements and taxation returns for 30 June 2013. Mr Lee deposes to a conversation on that occasion in which he says Fiona raised the question as to “how would [they] be reimbursed” if they did some renovations to the house at Canobolas; that Timothy suggested looking at houses for sale nearby and subdivision as an alternative; and that:

Tim said:   Perhaps one way if you were going to do any renovations to the house at Canobolas was to get a valuation of the house before and after the renovations. This way would work out what increase in the value was gained by such renovations rather than what you had spent.

[Des] said:   Another way to record down what items you spent and from those items be approved by Tim and Bernard and recorded in the company financial records as a loan to you both (being the company financial records as a loan to you both (being Bernard and Fiona). Those costs could be adjusted by CPI and an adjustment made for each year of the increase in value as you could over capitalise the property and such costs not recovered in valuation method [sic]

  1. Pausing here, it seems to me more likely (having regard to the chronology of events) that this conversation occurred in the course of the May 2013 meeting rather than the March 2014 meeting because steps had already been taken by March 2014 at least for the obtaining of plans for the proposed renovation.
  2. Again, there are handwritten notes made by Fiona contained in the blue book of this meeting, recording the meeting with Mr Lee at Caernarvon Cottage and the presence of Timothy, Fiona and Bernard. Those notes do not record any of the above discussion to which Mr Lee deposed. There is then a lengthy gap in time before any further minutes or notes in the book – those recommencing with a typed set of minutes of a meeting on 1 December 2015 attended by Timothy, Bernard, Fiona and “LP” (which I infer to be Leanne Pearce).

Valuation by Andrew Saunders – April 2014

  1. Mr Saunders inspected and valued the Homestead (i.e., not the Caernarvon Property as a whole) on 29 April 2014 (the “before” valuation) at $770,000 (being land valued at $385,000 – for a site area of 2ha; and improvements at $385,000). Mr Saunders assessed the rental value unfurnished at $475 per week.

Communications with Mr Lee – April/May 2014

  1. I have referred above to the communications with Mr Thornhill.
  2. On 30 April 2014 (in response to a request made on 30 April 2014 by Mr Lee for Fiona to send an MYOB accounting file for Bernard and Fiona’s business entities), Fiona sent an email to Mr Lee stating “will do, we will have done by end of next week” but went on to ask Mr Lee to read a message received from Mr Thornhill and to confirm her explanation to Mr Thornhill (as to the funding of the house renovations) as well as to address the last paragraph of the message. The message from Mr Thornhill read:

Hi Fi

As discussed, I understand that personal funds you and Bern/Caernarvon Cherry Pty Ltd have available will be used to pay for the house renovations, and there will be an adjustment done to square things up with Tim based on the pre- and post- valuer of the house as it is owned by one of the Company’s that is 50% owned by Tim.

The other point that may be worth checking with Des is that the way you will be paying for the house renovations will be the most tax effective for the Company and yourselves individually. I suggest checking with Des to confirm that there are no other strategies he would suggest to assist with tax minimisation now and in the future.

  1. On 5 May 2014 (before the contract with John Nunn Building Contractors was signed), Mr Lee responded to Fiona’s 30 April 2014 email, saying:

It is my understanding at our meeting in Orange that Tim suggested pre and post valuation.

I suggested what ever [sic] you spent plus CPI would be adjusted and to resolve the issue I suggested the higher of the two.

The reason I explained you could over capitalise the property and such costs not recovered in the valuation.

With the current update to end of April figures you are sending I can work out the overall tax planning.

To assist please also provide estimate of renovations costs and timetable and what type of renovations.

  1. Bernard and Fiona say that it is common ground that the subject of the payment for the renovations was raised by Bernard and Fiona, and that Mr Lee had recorded resolution of the issue; and they point to these as matters going to the unlikelihood that they proceeded with the funding of the renovations without any agreement having been reached on that issue. The difficulty I have with that proposition is that there is not clear evidence of an agreement emerging from the above affidavit evidence, even on Bernard and Fiona’s account of the conversations. Rather, what is clearly apparent is that Bernard and Fiona wanted there to be recognition in some fashion of their expenditure (and most likely that this would be by some sort of adjustment or squaring up between the brothers in the future).
  2. For Timothy, it is said that for there to be acceptance of the position in relation to reimbursement of or recognition for the cost of the renovations, there has to have been knowledge of the costs of the renovations and the types of renovation (and it is noted that Mr Lee wanted an estimate of these to be provided).
  3. The above chronology of events shows that there were discussions about the proposed valuation of the property before and after the proposed works; and that it is made quite clear that no agreement was reached between the parties; rather, Mr Lee writes in the abovementioned email that his understanding was that Timothy and he both provided suggestions as to how the renovations could be reimbursed, and requested further details of the costs of the renovations and the type of renovations.
  4. On 13 May 2014, Fiona responded to Mr Lee, attaching the updated MYOB accounting file he had requested, in which email she said:

hi des

I have just emailed you the backup of MYOB for April 30. We have done as suggested and had the house (and house only) valued before any renovations commence. I will pass this on once received.

The renovations will commence next week however I don’t envisage a lot of money being spent before the end of the financial year. There have been costs to council, draftsman, engineering, design etc so far, however my prediction that another 70k would be spent before end of fy at the most.

The total renovation is going to be an estimated [sic] at $400-450k, will give you some more details when the fixed quote comes in from the builder tomorrow.

  1. Mr Lee has deposed (at [61] of his first affidavit) that he did not receive any further information regarding the renovations beyond the above communication; and that he did not think about forwarding a copy of this to Timothy because the email chain was part of the records between Caernarvon Cherry Pty Ltd and his firm; and Timothy had never been a director or shareholder of that company. There is no evidence that Timothy was made aware of this estimated cost.

Arrangements for building works

  1. The development application dated 15 April 2014 described the development as extensions and alterations to the cottage at an estimated cost of $350,000. The development application recorded the owner’s consent (of Bonny Glen Fruits) bearing the signatures of both Fiona and Bernard – Fiona signed as director (the title “director” being in her own handwriting). It appears that Fiona also signed the building contract as owner.
  2. The renovation works began in 2014 (a construction certificate being approved on 5 June 2014) and concluded in 2015. A final occupation certificate was issued on 13 March 2015. The cost of the renovation works was funded by Bernard and Fiona (in an amount, t