Notice a new logo has been submitted

Question is… why do they need a logo? hmmm

This should cheer him up…

Oh no, @RGrosjean! 😮

📻 "I spun in the pit lane, mate"#BritishGP 🇬🇧 #F1 pic.twitter.com/M8LNJCyJOn

— Formula 1 (@F1) July 12, 2019

[edit] darn, 43 seconds too late

Fixed it 🙂

Rich Energy Takes Your Wings Away.

[edit] darn, 43 seconds too late – [edit2] cheers Jamze 🙂

Rich Energy – broken and discarded.

too late !

Storey has been told to get back in his box by the Rich investors, there’s a link to the article in the F1 thread

Has anybody done any detective work yet into who Rich Energy’s investors are? I ask because, let’s face it… Any reputable F1 team would have dropped a sponsor like they were hot the moment they got into trouble. The fact Haas haven’t drives enough suspicion as to ask why they haven’t.

In fact, if in time it doesn’t come out that a certain team owner (given serious previous form for tax fraud and witness intimidation) “masterminded” the whole thing, I will eat my hat! His biggest mistake was on choosing a Maverick such as William Storey (and a lack of due diligence regarding the logo), who when suddenly thrust into the limelight by someone else’s dirty money, gets illusions of grandeur and thinks he is suddenly the brains (and the money) behind the operation!

We don’t know it yet, but Storey may have played an absolute blinder by being such a rogue agent and compromising the whole operation!

there are some names in this report;

https://www.motorsport.com/f1/news/rich-energy-investors-save-haas-deal/4492346/

On 20/08/2018 the company’s overall number of shares increased to 100 and had a total value of 100 GDP. Where 64% was held by William John Storey (64GDP), 12% by Brandsellers Holding Limited (12GDP), 10% by Charlie Simpson (10GDP), 10% by Robert Lee (10GDP), 2% by Neville Weston (2GDP) and 2% by Lloyd Tunicliffe (2GDP).

On 13 Sep 2018 the shares were sub-devided where the previously owned 100 shares valued at 1GDP each were now numbered at 10,000 shares and were worth now 0.01 GDP earch (vertually nothing). This was done by William John Storey and was sent by Brandsellers Holding Limited.

Rob Lee is the footballer (Charlton), Not sure about Charlie Simpson (could be of boyband fame) no idea who Neville Weston is. oh edit Lloyd Tunnicliffe – insurance geezer i think.

Capital value of £100? Seems legit.

Has anybody done any detective work yet into who Rich Energy’s investors are?

Yes.

*Tilts fedora to a jaunty angle, raises collar of trenchcoat and walks off in to a moodily lit alley…*

Low share values is fairly normal for non publicly traded companies. They have to have a nominal value so most will be something like £1 or 1p each.

That paragraph doesn’t explain the change to 10,000 very well, did they just divide them up evenly to make selling small portions easier, or did they dilute the shares, I.e. does the investment company now own 9912 shares?

Gets worse, there are now legal letters appearing on Twitter. Still Storey I assume??

https://twitter.com/rich_energy/status/1149670559296307200

Is ‘wrestle control’ really legal jargon? From a company with no internet presence and onyl been around a year.

That letter seems a bit… off. “Wrestle” control being part of it (“wrest control” is the more usual term); the gmail address, the use of “they” to refer to Storey etc.

It all sounds a bit… less than totally professional, tbh, like you slipped the law firm intern a fiver to mock up a letter.

Knocking up false documents would be unthinkable……oh, wait

Yep all seems legit.

Is there a legal letter template in MS Word?

.

That letter does have a point – given the shareholding outlined above the minority shareholders don’t appear to have control of the company (unless there are voting/non voting shares).

Out of interest, how does a CEO who is majority shareholder get fired then?

Completely opinion obviously but, given the money involved in f1, wouldn’t you expect hass to be using a slightly more established firm than one that’s only been about for 18 months and works from a residential* address?

*There’s 20 business records at 81 Elizabeth Street, some dormant, and 2 at 85.

It’s not residential. It’s an office located above an estate agency. Fairly normal for multiple companies to be registered in a single address, too.

There’s an excellent cigar shop just up the road as well. Which is nice.

This might be interesting reading, Jalopnik have also done some “digging” 😉😁

https://www.google.com/amp/s/jalopnik.com/what-you-find-when-you-look-into-rich-energy-the-myste-1833303620/amp

Where does this guy come into it??

Lucas Browne!

Whyte Bikes have not been paid the £35,416 due to them from Rich Energy, William Storey & Staxoweb. They have indicated they are now going to take appropriate action, including court applications to wind up RE, Staxoweb and petition for the bankruptcy of Storey. #F1 #BritishGP

— Thomas Maher (@thomasmaheronf1) July 12, 2019

The decision to openly mock Whyte on social media is looking inspired. Not the kind of wind up he was hoping for. 😄

Completely opinion obviously but, given the money involved in f1, wouldn’t you expect hass to be using a slightly more established firm than one that’s only been about for 18 months…

Mr. Courtenay-Stamp seems v. experienced though. Has previously been involved with Stewart and Jag F1 (who became Red Bull!) if it’s the same chap.

Any reputable F1 team would have dropped a sponsor

It’s not called the Piranha Club for nothing. F1 teams don’t care where the money comes from.

been done?

https://twitter.com/PoorEnergy?s=09

Captain Caveman has met with himself again.

https://twitter.com/rich_energy/status/1149924686807076864?s=19

So rich energy now don’t have the rights to distribute rich energy… 🤣

That’s implying there’s an actual product to distribute of course.

“He’s behind you!”
“Oh no he didn’t!”

This is better than a Christmas pantomime.

the exclusive rights to distribute @rich_energy have been transferred to another company

I bet they’re excited

“it’s worth millions and millions and millions and millions of pounds a year and you only have to distribute 50 cans since that’s all there are”

Is anyone going to the GP this weekend?
I bet they won’t be able to get hold of a can of RE.

….and judging by the tweet above they are still using the whyte logo. I guess the moving the rights might be more to do with Whyte pushing for a winding up order?

Surely those ‘rights’ only apply to distribution, whereas the court finding was against the company/product

Either way, it looks a lot like Storey trying to squirm a way out of the impending shitstorm. Only thing is, I don’t think he’s either clever enough, or able to hire anyone clever enough, to get out of it.

https://twitter.com/rich_energy/status/1149997894629580802?s=19

Full Trump

I’m finding this more exciting than the championship tbh!

Hass must be talking to the minority shareholders over Storey’s head to keep the money flowing in the hope that they can oust Storey (maybe by buying the assets of Rich energy once it’s wound up).

Noob question, do we know if it’s likely that Storey put in 64% of the capital or is his 64% the brand/idea and all the other shareholders are bankrolling it? I.e. if funding was cut off would Storey/Rich quickly go bankrupt?

maybe by buying the assets of Rich energy once it’s wound up

What assets? This is like the Sick Bikes thread where people keep expecting that they will get a refund.