Cox Resigns

[Jerry]

Things were going to be tight from the outset , yes, but five directors have resigned and the club is losing money and heading towards dire straights. Someone has to do something soon

You keep spouting this five directors line. As far as I am aware it is only four who have left the board. As these four were actually two married couples it is in reality only two investors. We don't know (and neither do you) if they withdrew their money when they left.

Can you answer Scott's question George? Why are you still posting on our site?

[Jeff]

Never been a more boring thread on this site.

Yet I do keep checking it to see if more flannel has been posted

[Yellows]

Never been a more boring thread on this site.

Yet I do keep checking it to see if more flannel has been posted

I have to agree with this. I am not sure where this is all going. The purpose of all this must be to keep Torquay in Business and not get Relegated. The Club is owned by Shareholders. It is a Private Limited Company. If Torquay needs Cash over and above its day to day trading to fulfil the two criteria it must be funded by the owners. If no cash is available they must say so in a timely manner and not leave it to late.
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Added in 3 minutes 51 seconds:

So you are on the board? Or work for the club? Or you're just guessing based on what someone who knows someone said they saw in the books six months ago when an entirely different group of people were running a vastly different company?

The budget of 600k is mentioned, does this included those on Garden Leave, Redundancy Payments etc or actual Playing Staff now?
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[Richinns]

At the recent fans forum the current board stated that they are running without debt yet George is saying there is a 600k debt since they took over and the club is close to folding.

George - you are therefore stating that the current board at the club are liars then?

[mushroom]

At the recent fans forum the current board stated that they are running without debt yet George is saying there is a 600k debt since they took over and the club is close to folding.

George - you are therefore stating that the current board at the club are liars then?

I am not privy to exact up to date details but on the forecast back 6 months ago which l know has not gone well there is a black hole of circa 100k at end of this month
It is the very nature of football to try and keep positive and never disclose issues such as this
The Board are really up to their neck both financially and lack of experience but if they came out as it were at least we could all decide if we would want to contribute to help sadly they see this a weakness and doubt it will not happen until it is to late

[PhilGull]

I am not privy to exact up to date details but on the forecast back 6 months ago which l know has not gone well there is a black hole of circa 100k at end of this month
It is the very nature of football to try and keep positive and never disclose issues such as this
The Board are really up to their neck both financially and lack of experience but if they came out as it were at least we could all decide if we would want to contribute to help sadly they see this a weakness and doubt it will not happen until it is to late

6 months ago? So the end of last season? Things were completely different then!

[mushroom]

6 months ago? So the end of last season? Things were completely different then!

Yes they are worse

[Kit_robin]

Yes they are worse

Worse on the field, yes.

But 6 months ago was April. Our outgoings since then have dramatically reduced, whereas our income is roughly the same (minus thea's chequebook - check the attendances at the end of last season). so things are better, not worse, for the long term future of the club.

We are, no doubt, "cutting it fine" . We are living hand to mouth, as I were, with all money now and in the future budgeted for. But this is what the board have always said.

I had decided that the best course of action was to ignore George, Yells and mushroom. That they would go away if no one spoke to them. But I worry that casual readers may take their comments at fave value, and believe their poisonous bile. That's why I thibk it's probably the right thing for reasonable people to reply, in a reasonable fashion, with the reasonable facts of what is happening - not what they WANT to happen.

[Bomber]

I am not privy to exact up to date details but on the forecast back 6 months ago which l know has not gone well there is a black hole of circa 100k at end of this month
It is the very nature of football to try and keep positive and never disclose issues such as this
The Board are really up to their neck both financially and lack of experience but if they came out as it were at least we could all decide if we would want to contribute to help sadly they see this a weakness and doubt it will not happen until it is to late

Would this 100k include any monies owed to HMRC?

[Yellows]

At the recent fans forum the current board stated that they are running without debt yet George is saying there is a 600k debt since they took over and the club is close to folding.

George - you are therefore stating that the current board at the club are liars then?

George are you really saying that the Current Board has incurred a Debt of 600k since Handover? if so is that a P/L Debt please provide a breakdown. The forecasted loss to 30th June was 450k but that was for 12months majority of this loss was covered by Mrs Bristow and the Board at that time
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Added in 3 minutes 5 seconds:

Would this 100k include any monies owed to HMRC?

I would very much doubt it as the National League have a link with the HMRC if you do not pay your PAYE on the due date they will Telephone you or come around and get it!
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[mushroom]

Worse on the field, yes.

But 6 months ago was April. Our outgoings since then have dramatically reduced, whereas our income is roughly the same (minus thea's chequebook - check the attendances at the end of last season). so things are better, not worse, for the long term future of the club.

We are, no doubt, "cutting it fine" . We are living hand to mouth, as I were, with all money now and in the future budgeted for. But this is what the board have always said.

I had decided that the best course of action was to ignore George, Yells and mushroom. That they would go away if no one spoke to them. But I worry that casual readers may take their comments at fave value, and believe their poisonous bile. That's why I thibk it's probably the right thing for reasonable people to reply, in a reasonable fashion, with the reasonable facts of what is happening - not what they WANT to happen.

I have no desire for the Club to fold quite the contrary and l am not in the market to acquire or invest
If it is felt that my input is creating the impression you state happy to end comments now and keep information that is provided to myself
The Club do not currently owe HMRC anything but that may change on 7.11.15

[Scott Brehaut]

Not Mrs Bristow and the Board - just Mrs Bristow.

She, and she alone, kept this club afloat whilst the rest of the Board sat back and spent her money - isn't that right Bill and Simon, or perhaps you can tell us exactly how much you put in and how much you took out of the club you love so much....

[Yellows]

Not Mrs Bristow and the Board - just Mrs Bristow.

She, and she alone, kept this club afloat whilst the rest of the Board sat back and spent her money - isn't that right Bill and Simon, or perhaps you can tell us exactly how much you put in and how much you took out of the club you love so much....

Scott you have made your point about Mrs Bristow funding but you have to accept that Bill and the remaining people who made loans in the past also lost money by writing off their loans. Mrs Bristow did hold the majority of Shares. The hard facts is that Mrs Bristow appears to have been ill advised in this instant. You must also accept that the existing Shareholders purchase the Club for nothing.
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[tomogull]

The Board are really up to their neck both financially and lack of experience but if they came out as it were at least we could all decide if we would want to contribute to help sadly they see this a weakness and doubt it will not happen until it is to late

I am reluctant to drag this thread even further than it is, but call me naive if you like, but I trust the chairman and Steve Breed to come out and tell us if there were severe financial concerns. We were promised transparency from the start and they have so far been far more forthcoming than the Flowerpot Men, Bill Phillips and Simon Baker.

[Richinns]

I am reluctant to drag this thread even further than it is, but call me naive if you like, but I trust the chairman and Steve Breed to come out and tell us if there were severe financial concerns. We were promised transparency from the start and they have so far been far more forthcoming than the Flowerpot Men, Bill Phillips and Simon Baker.

They answered these questions at the recent fans forum. They made it crystal clear. They also made it clear they were aware of the asset strippers circling these forums.

George - please confirm you are calling the current board liars as you repeatedly insinuate with your posts.