4. Investment Business

Alan Mak's CV states "Started & now run my own successful business investing in technology and retain companies like HotSquash ...... & PaperlessReceipts".

The impression given is that Mr Mak was running a successful business that invested in companies. 

However, the truth is very different as Alan Mak was a regular shareholder that had a book value of less than £200.  The claim that he ran a successful investment business is not borne out by facts.

The original analysis of Alan Mak's shareholding was carried out at the time his CV was prepared for the Havant Conservative Patly candidate selection process.  It has been updated at the start of 2018.

Hot Squash Limited

The 2015 Annual Return, see HERE, shows Alan Mak owns 350 (the smallest shareholding of all shareholders) of the 1,266,392 shares issued; this represents 0.028% of the share capital. The latest annual accounts filed to 31 March 2014, see HERE, reveal: the value of the company as £119,252.

Cash investments into the company to date have been £345,743 and that the company has accumulated losses of £226,491 having lost £39,054 in the year to 31 March 2014. The value of Alan Mak's shareholding at 31 March 2014 was 350/1,266,392 x £119,352 = £32.99. The balance sheet suggests a further cash injection is needed to keep the company trading.

By March 2017, the book value of Alan Mak's shareholding had increased to £100.

Paperless Receipts Limited

The Annual Return, see HERE, shows Alan Mak owns 53 of the 36,650 shares issued; this represents 0.14% of the share capital. The latest annual accounts filed to 31 March 2014, see HERE reveal: the value of the company is £88,140.

Cash investments into the company to date have been £1,494,809 and that the company has accumulated losses of £1,406,659 having lost £672,587 in the year to 31 March 2014. The value of Alan Mak's shareholding at 31 March 2014 was 53/36,650 x £88,140 = £127.46. The balance sheet suggests a further cash injection is needed to keep the company trading. 

By 31 January 2017, losses in paperless receipts had increased to £2.7 million, see HERE,  with the company staying solvent following cash injections.  Alan Mak's 53 shares have negligible value.

Summary

The claim that Alan Mak ran a successful investment business is not borne out by the facts.