Communique with its own 'kill/destruct program'

by DOUG COLLIE

The inscrutable Parachute Holdings (PCH) and its sphinx-like executive 'Tim Carter' surfaced yet again at the weekend when Carter and Avocet Natural Capital (ANC) chairman Martin Frost provided shareholders in their 'disruptive technology' businesses with a self-styled joint communique.

But news of the latest developments involving industry newcomer Genfro Ltd left some investors distinctly unimpressed with claims there was still no sign of PCH at Companies House, and suggestions that its representative Carter did not exist but was a figment of Mr Frost's imagination.

Not Just Sheep & Rugby can neither substantiate nor disprove such allegations.

While readers of the communique, called an Overview,  were treated to a list of personal issues linked to Mr Frost there was little or no mention of his new 'colleague' although a question and answer was included in the five page message as follows: "Is Tim Carter a person? Yes: but Tim is also a generic name."

Shareholders were told of highly ambitious plans for numerous new patents under the Genfro banner with a possible combined value of £300 million. And shares in the enterprise will be traded on Panama's stock exchange Bolsa de Valores.

According to the communique: "PCH has arranged to gift money into Gennfros Trading Limited to allow Gennfros Trading Limited to be the physical vehicle used to purchase Omega ordinary shares and buy up Omega / Orrdone debt. Gennfros Trading Limited (a Genfro group company) is 100% owned subsidiary of Genfro Limited has acquired the assignment of Omega Infinite Plc / Orrdone shares alongside debt due by Omega / Orrdone to its creditors."

It was revealed earlier this month that Omega's creditors have lodged claims totalling £20.9 million while several millions of pounds are also due to creditors of Avocet subsidiary Orrdone Farms.

The correspondence explains: "PCH which ultimately controls Parachute Holdings SA. has secured Jewish funding for new intellectual property, to be registered and owned by Genfro Limited. The funding is explicitly to be used for the creation of new or improved intellectual property. This funding is NOT repayable and all that is requested is that any intellectual property produced is freely and openly shared with the State of Israel, other beneficiaries will be obliged to pay a commercial price. This funding cannot be used for the payment of old Avocet or Genfro liabilities."

Shareholders were also informed that PCH facilitated the original sale of "old AFS intellectual property". AFS Ventures, another company controlled by Mr Frost has been in the process of being liquidated since 2015.

But now the communique states: "This sale will no longer happen in the manner once thought. That said, and not withstanding the creative zeal & naughtiness of some of Begbies soldiers [Begbies Traynor are Omega Infinite's liquidators]: ANC Plc still expects to secure meaningful cash returns to ANC Plc shareholders soon. 

"This week Martin Frost secured the Irish property foundation base. There is still mileage to go and matters to be sorted with the Omega’s liquidators but there is now greater optimism for the EU base than in 2019."

A number of the questions and answers set out in the communique are of little relevance to Avocet/Genfro's business affairs.

But the following may be considered noteworthy by investors: "Did Avocet money pay for Martin Frost’s home? Harcarse Hill farmhouse (a propert in Berwickshire) was a company owned farmhouse. In 2020 Aver (administrators of Orrdone Farms Ltd) broke into my and Janet’s (Mrs Frost) home and stole or destroyed many items. Aver then wrongly duped Begbies to remove goods: currently Janet and I are seeking restitution. 

"Prior to moving into Harcarse farmhouse, Janet and I rented a flat in Scarborough. In 2016 an opportunity arose to buy this flat. Such purchase occurred and I used some monies personally due to me from Avocet to fund this.

"Did Martin Frost lend money to Avocet? Yes: via loans and arrears of salary some £3 million. Via Loch Lomond Heritage Limited some £7 million. On top of which I reckon to have had a further £10 million destroyed or stolen."

In a sinister sounding final paragraph the communique warns: "Please note that this attachment has a sophisticated tracker which enables a kill/destruct program should you choose to wantonly reproduce or pass on this document contrary to your NDA (Non-Disclosure Agreement).

 A veteran Avocet shareholder who contacted us about the communique commented: "It speaks to the depth of absurdity to which we have descended that Frost has to reassure us that one of his colleagues and a key player in the organisation, actually does exist!

"Frost’s retirement from Genfros and Avocet seems to have been short-lived, as here he is a mere seventeen days later, again writing to us on those subjects."

And with regard to the 'kill/destruct' attachment our source remarked: "I was somewhat alarmed by the last sentence of the 'Overview' which threatened to launch a program to kill me if I forwarded it on to anyone. Just to be on the safe side, I have locked my doors and turned all the lights on".