23/03/2004 - 21:00

Tomorrow never comes for some

23/03/2004 - 21:00

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APOLLO Gold Mining is an up-and-coming mining company while Clearview Capital is a ‘shell company’ with no activities, so at first glance they don’t seem to have much in common.

Tomorrow never comes for some

APOLLO Gold Mining is an up-and-coming mining company while Clearview Capital is a ‘shell company’ with no activities, so at first glance they don’t seem to have much in common.

But a look back at their history shows they were closely intertwined in the tech boom and the grand plans of a nearly forgotten company called Tomorrow.

Apollo originally floated as 131Shop.com.au, a Brisbane-based online business directory that has been rated as the worst performing float of the 2000 financial year.

Clearview Capital can trace its origins back to the delightfully named Indoor Bowling Australia Ltd.

It went through several name changes as a gold explorer before becoming Osmere and then ‘e-commerce provider’ Online Advantage.

The two companies moved closer together in July 2001, when Online Advantage acquired a stake in 131Shop.com.au

This preceded a major restructuring engineered by Sir Ron Brierley, feared corporate raider of the 1980s, who dabbled briefly in the tech frenzy.

Sir Ron recruited Sausage Software founder Wayne Bos, a mega star of the tech years, as managing director of Tomorrow, which was meant to be an investor in a range of carefully chosen tech stocks.

They proposed a grand plan that saw 131Shop.com.au turn into Focus Technologies.

Unfortunately for the shareholders of Focus, Sir Ron and Mr Bos parted ways before the restructuring could be completed and both Focus and Online Advantage subsequently foundered.

Patient shareholders who stayed with Focus are finally seeing some upside as shareholders of Apollo.

The company has achieved success at its Laverton gold project and last month announced plans to expand into China.

Clearview Capital has disposed of its old interests, and is presently not carrying on any business.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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