Blackwell International (BGI)

[etrader]

There’s a few penny dreadful stocks that seem to pop out of no where with a share price increase, BGI seems to have spike from nothing a month ago really with no news, volume increasing also.

It’s a tiny finance firm looses $ and has some cash in the bank.

Disc: I have both a tiny amount but don’t really get what other value justifies the increase.

Thoughts ? Potential Backdoor listing shell or just spec ?

[Aanvil]

Sharsies offers it, and there are over 2,000 bids at 4.8c chasing it up. Looks like sharsies people chasing themselves up the ladder for no reason to me...

[nztx]

There’s a few penny dreadful stocks that seem to pop out of no where with a share price increase, BGI seems to have spike from nothing a month ago really with no news, volume increasing also.

It’s a tiny finance firm looses $ and has some cash in the bank.

Disc: I have both a tiny amount but don’t really get what other value justifies the increase.

Thoughts ? Potential Backdoor listing shell or just spec ?


Good point - increase today too

The earlier postings are in the NZ Finance thread -

https://www.sharetrader.co.nz/showthread.php?1066-NZ-Finance-Building-an-Empire/page8

[etrader]

Thanks for link sorry didn’t know there was one relating to the nzf brand but happy to continue thread on either.

There’s a really strange possibly computer generated did for 10 million shares for 1000 plus buyers at 5c not sure if it’s a bot

Either way given this tiny company looses money and no news seems odd why it would go up 400% in a matter of weeks.

[youngatheart]

I've just bought into this one too. Not a lot but interested to see how this pans out. Perhaps an announcement on Monday?

[etrader]

Highest trading volume for ages even though the values not huge I just wonder why, grabbed a few grands worth at 4.7c so we see what pans out.

There’s been some good interest in reverse takeovers around the place to get companies to market quick.

[MarineSalvage]

I think its more to do with the fact its at the top of the Sharesies "Invest - Companies" list - so it gets first crack...

[etrader]

Thanks Marine I’ve never seen sharies but that sounds logical, could be one of those penny dreadfuls which hit .10 for no logical reason

[MarineSalvage]

Interesting with apps like RobinHood etc in the USA (like Sharesies) there is research to show things like "coolness of the ticker name" and the order of offer are key selection criteria - amazing. Its the financial equivalent of selecting a batsman with an artificially high average but no other metrics like total aggregate runs etc. so when the first name on the list shows 1000% return a newbie is going to think thats a bargain and pile on
Thanks Marine I’ve never seen sharies but that sounds logical, could be one of those penny dreadfuls which hit .10 for no logical reason

[youngatheart]

Up another 12% so far again today...

[Gerald]

Lol over 1300 trades before 11am. I am guessing the Sharesies crowd are bidding this up with almost no sell side, as it appears to be a dead company. Even the directors are dumping as they realise nothing is going on there.

Prepare for a speedy elevator down :mellow:

[Traderx]

I'm all for the democratisation of finance but this is madness, the good news is only c$300k traded today so in terms of total losses the sharesies crowd may be exposed to it could be worse.

At what point does Sharesies share some responsibility for the inevitable losses? They must be able to see the behaviour change in people when it gets on top of the "performance" chart and follow on buying occurs. Its not a sophisticated crowd.

[Baa_Baa]

At what point does Sharesies share some responsibility for the inevitable losses? They must be able to see the behaviour change in people when it gets on top of the "performance" chart and follow on buying occurs. Its not a sophisticated crowd.

Assuming it does crash, why would Sharsies have any responsibility, it's just the platform for the trades, seems irrelevant whether the users are experienced traders or not. It's like saying Direct Broking or ASB Securities should inform their users when a share is over priced? Or have I misunderstood what you're saying.

[Cadalac123]

This is more a reflection of how poorly conducted the NZX is. They asked the company to provide insight into the sudden appreciation, company says nothing of note, directors sell out days after this (lol?) and it kept going up.

Embarrassing exchange.

[Traderx]

Assuming it does crash, why would Sharsies have any responsibility, it's just the platform for the trades, seems irrelevant whether the users are experienced traders or not. It's like saying Direct Broking or ASB Securities should inform their users when a share is over priced? Or have I misunderstood what you're saying.

They have no clear legal responsibility agreed. But they have large quantities of new investors, they serve up lists of available investments ranked by returns/performance and then punters buy in seemingly on the strength of that information.

At what point do they ask the question - is the way we've designed our service helping or hindering our clients?

[youngatheart]

I'm all for the democratisation of finance but this is madness, the good news is only c$300k traded today so in terms of total losses the sharesies crowd may be exposed to it could be worse.

At what point does Sharesies share some responsibility for the inevitable losses? They must be able to see the behaviour change in people when it gets on top of the "performance" chart and follow on buying occurs. Its not a sophisticated crowd.

Sooo BGI is the new AIR for Sharesies then...

[youngatheart]

Average transaction is about $200 for the 1400 trades so far today so the Sharesies Effect is entirely possible...

[etrader]

I have not done sharesies before as I invest by a broker but signed up a quick account to view how it works and it looks there’s an encouragement to buy at market and also the real price is delayed by 20 minutes so if an investor pops $50 at market it’s going to keep snapping up the lowest seller.

This stock is a default on the direct buys so mum and dads will see the 1250% return and want some of the action.

I’ve said before just with a little pocket money chucked a few bucks to test the waters but it really doesn’t do anything

[MarineSalvage]

certainly very interesting effect - its an accelerant to any company or fund that gets the masses excited... BLT certainly benefitted from being top of the list for a while...

[youngatheart]

Hmmm... May be 10c by Friday if not sooner by the looks of it....

[MarineSalvage]

reminds me of 1986-87... any prospectus at all for any company at all were mobbed by share club members holding mini bottles of wine cooler
Hmmm... May be 10c by Friday if not sooner by the looks of it....

[youngatheart]

Haha, I'm treating this as a lesson in irrational economics. The price is completely detached from the company and it's really just the momentum from the juggernaut that is Sharesies that's pushing the price up...

[MarineSalvage]

I'd like the Sharesies mob to get all excited about SCL... or AFT... but I guess a share needs to be a few cents a share to be exciting

[etrader]

I excited today seeing no logic to hold after making a 40% Return, agree for no logical reason it could hit 10c but I’ve left something on the table for the next buyer.

[youngatheart]

Sheesh. Looks like another crazy run today too by the looks of it...

[youngatheart]

Tulips anyone?lol

[Sideshow Bob]

Tulips anyone?lol

Up 32% on the day. Do these guys know what they are buying??

[MarineSalvage]

theres a guy on their FB page saying "the rumour is its worth 30c"....

[nztx]

theres a guy on their FB page saying "the rumour is its worth 30c"....

must be some really good hidden gems unearthed in the NZF Receivership trove that may pay off everything &
produce more gold than NTL is likely to in the next 15 years ;)

[nztx]

The BGI NTA currently showing on NZX @ $0.15 looks like it's a screw up

Probably has it's origins off the BGI March 2020 FY NZX Filing

What would a Listed Shell on NZX be worth these days ?

A good point with BGI is that it was likely one of the lowest SP listings carried on the Sharesies platform for a time
and they dont carry all of them on Sharesies

(eg: TRS - now known ACE or Ascension Capital is & was not on there as far as I recollect)

[MarineSalvage]

lowest priced share and seemingly highest returns - the Sharesies crowd have lapped it up

[toml.1234]

On the topic of the Sharesies crowd lapping it up based on being highest % increase, Sharesies have seemingly disabled the previous history feature...
EDIT: Not disabled, however seems that they've changed it so that when you first enter it orders companies from A - Z rather than top performing

[youngatheart]

Hmmm... May be 10c by Friday if not sooner by the looks of it....

Ugh. Reached a high of 9.5c today...

[youngatheart]

On the topic of the Sharesies crowd lapping it up based on being highest % increase, Sharesies have seemingly disabled the previous history feature...
EDIT: Not disabled, however seems that they've changed it so that when you first enter it orders companies from A - Z rather than top performing

Prudent! Just in time before pay day tonight resulting in another crazy surge tomorrow..

[etrader]

Funny you say that yesterday if had a 2000% return now it’s A to Z only which avoids the FOMO a little for mum and dad investors that want the next Amazon or Google type return

[whatsup]

The BGI NTA currently showing on NZX @ $0.15 looks like it's a screw up

Probably has it's origins off the BGI March 2020 FY NZX Filing

What would a Listed Shell on NZX be worth these days ?

A good point with BGI is that it was likely one of the lowest SP listings carried on the Sharesies platform for a time
and they dont carry all of them on Sharesies

(eg: TRS - now known ACE or Ascension Capital is & was not on there as far as I recollect)


nztx, A listing is worth $1 mil max or there abouts, question that has to be asked is, when will the share price collapse remembering that TRS was driven from .002 to .016 is a couple of days when Mr Dot Com was rumoured to back door his empire into it, never happened as we all know!

[Sideshow Bob]

The BGI NTA currently showing on NZX @ $0.15 looks like it's a screw up

Probably has it's origins off the BGI March 2020 FY NZX Filing



Looks like been changed today??? Maybe they looked at their website when they issued another speeding ticket???

[MarineSalvage]

a trading halt?? while they work out if its actually a company???

[MarineSalvage]

so a2 is now at the top of the list - wonder if some mathematician can tell us if it gets an upswing in interest from Sharesies punters (not that it needs one)

[youngatheart]

So I was expecting some shocking revelation but all they found was that their NTA was described as 0.15c and should have been $0.0015.... so $ not cents, wow... And for that they put them on halt.

[sb9]

So I was expecting some shocking revelation but all they found was that their NTA was described as 0.15c and should have been $0.0015....

Errr...what a shocking way to misguide investors, hope none of poor retail investors got sucked in over past couple of days.

[youngatheart]

I see your point. They should have corrected it as soon as they saw it was being reported incorrectly.... for eg. ASB still has it as 0.15...

[MarineSalvage]

I dont think the sharesies people care... they are all selfie-ing their percentage gains
I see your point. They should have corrected it as soon as they saw it was being reported incorrectly.... for eg. ASB still has it as 0.15...

[Poverty]

Free-fall next open?

[youngatheart]

I've noticed that NTL also has in it's latest report on page 24 that NTA is stated as 0.59cent... is this the same case???...

[MarineSalvage]

So they thought they were getting a very cheap 15c share and now found the share is worth 15% of 1c?? Is that correct? It would make sense

[youngatheart]

I dont think the sharesies people care... they are all selfie-ing their percentage gains

Haha, this is funny because it's true, lol.

[whatsup]

"Match of the day" , will be if/when BGI opens for trading, markers anyone ?

[Cadalac123]

The time it took for this to get addressed is embarrassing.

[DazRaz]

Looking at the depth as it is now, it will take off as soon as the halt is removed. I think people will be slow to realise that it just isn't worth that.

[Stranger_Danger]

Free-fall next open?

Nope, now the NTA has two extra zeroes the Sharesies crowd will probably think it is a bigger number.

[nztx]

nztx, A listing is worth $1 mil max or there abouts, question that has to be asked is, when will the share price collapse remembering that TRS was driven from .002 to .016 is a couple of days when Mr Dot Com was rumoured to back door his empire into it, never happened as we all know!

The BGI Market Capitalisation looks a tad expensive then @ $45 mil for anyone wanting to acquire a listed shell to reverse all sorts of
weird & wonderful things into ;)

If not mistaken, Directors selling down stakes & a rumour monger busy on FB apparently

Any other updates out there likely to justify the SP remaining above 1.0 c ?

Assuming many of the punters may rapidly lose interest in this one, have they already started
migrating across to CAV ? A 5c SP rise looks like something more than a Chairman departing for good
At least the NTA looks respectable multiple of SP with CAV, even if a fair bundle of the real estate is
sitting on the block looking for buyer(s)


Take another look at ACE (x TRS) whatsup -- quite a few changes there recently

[Sideshow Bob]

The company started the issue - from their announcement 25th June

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/355236/325195.pdf

However it was correct in the financials:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/355236/325194.pdf

Has definitely influenced some of the Sharsies investors. Very poor all round.

[Sideshow Bob]

177 trades pre halt - averaged $297.

Ain't institutions buying......

[MarineSalvage]

interesting - looks like a reporter sniffing round on the sharesies FB page... a story on the price accelerative nature of Sharesies investment patterns??

[Ggcc]

This is what happens when you don’t actually know what you are investing in. Read about companies you like and then research some more before investing. Wasted money here by the looks.

[MarineSalvage]

we I guess some of them did well selling to others of them... at least its a reasonably cheap lesson for them in the BFT (Bigger Fool Theory)
This is what happens when you don’t actually know what you are investing in. Read about companies you like and then research some more before investing. Wasted money here by the looks.

[Akane]

Nope, now the NTA has two extra zeroes the Sharesies crowd will probably think it is a bigger number.

They'll still have to ask on Facebook group to get some reassurance before investing a big $50 on it :)

[Sideshow Bob]

interesting - looks like a reporter sniffing round on the sharesies FB page... a story on the price accelerative nature of Sharesies investment patterns??

Got a link??

[MarineSalvage]

you have to have a sharesies account to get in
Got a link??

[Stranger_Danger]

you have to have a sharesies account to get in

And an IQ under 60.

[Sideshow Bob]

And an IQ under 60.

Bit unfair. However many don't know what they are doing or what they are buying and would be better with some professional guidance IMO.

Flood of people/funds into Sharsies has almost become a self-filling prophecy.

[SpaceZ]

This is a good place to observe herd mentality.

Look at the crowd now rushing to the exit door at the 15 mins of trading today.

[Stranger_Danger]

The main problem with this one is just how blatant it is. Those involved may even get a slap on the wrist with TWO wet bus tickets.

[whatsup]

"Match of the day" , will be if/when BGI opens for trading, markers anyone ?

.022 and STILL TOO HIGH imho sub .01 more like it !!!

[Arbroath]

this is like a comedy show....every investor should know its buyer beware and you should DYOR.

hopefully a relatively cheap lesson for the novices but doesn't say much for the NZX either that after the company released results with the wrong NTA and then Directors and management sell down into mysterious strength....will they have all those insider trades cancelled?

[whatsup]

this is like a comedy show....every investor should know its buyer beware and you should DYOR.

hopefully a relatively cheap lesson for the novices but doesn't say much for the NZX either that after the company released results with the wrong NTA and then Directors and management sell down into mysterious strength....will they have all those insider trades cancelled?


Could there be a court case here for the poor sods who bought based on the published mistakes made in the company accounts, should not they have been proof read by the company first?

[Stranger_Danger]

It just ticked up. Here come the value investors!

[sb9]

Holly crap, what a roller coaster ...:scared::t_down:

[SpaceZ]

NZX should investigate on the length of time that the "wrong information" was put up and no one did anything about it.

The Company was asked a number of time on the reason why there was such a movement of price in the last few weeks.

[Akane]

Even at $75mil in asset, how could this be worth 9cps when SKT has $179mil in current assets alone, and only worth 14cps... doesn't compute.

[JSwan]

If I was BGI I would've done a capital raising near the peak, that would've really screwed over some "investors"

[MarineSalvage]

I really think Sharesies can be a good thing - my 10yo investing most of his birthday money is a case in point... but you just cant account for folks
And an IQ under 60.

[MarineSalvage]

yes you'd think they might have checked their own figures
NZX should investigate on the length of time that the "wrong information" was put up and no one did anything about it.

The Company was asked a number of time on the reason why there was such a movement of price in the last few weeks.

[MarineSalvage]

NZX and Sharesies need to do something... its a bit wild west
Could there be a court case here for the poor sods who bought based on the published mistakes made in the company accounts, should not they have been proof read by the company first?

[Stranger_Danger]

I really think Sharesies can be a good thing - my 10yo investing most of his birthday money is a case in point... but you just cant account for folks

This is the bit that worries me. A 10 year old investing is a GREAT thing, but what I'm seeing with the trend following, Facebook driving, fundamentals absent, euphoric herd like ignorance is the exact opposite of what the 10 year old should be learning.

I just hope that this period doesn't turn off a whole generation who decide that investing is a scam - that would be a real tragedy.

[SpaceZ]

i didn't hold any share but was alert by the other discussion forum on this shares and people were crazy about it hence i went in and checked yesterday and saw the trading halt.

I think this is really wrong and someone should be held accountable for this "wrong information" and market was mislead by it for a considerable length of time and the company was alert to the movement of price and volume twice and replied "nothing they aware of".

And there was sell down by insiders.

All these need to be investigated NZX.

[sb9]

Almost back at NTA level now at 1.5c, I think I wrote the number correctly...:p

[SpaceZ]

My 10 years old is investing in Index fund.

[Baa_Baa]

Entertaining to watch though, the asks (avg $180) chasing down the bids (avg $150). Crazy stuff.

[whatsup]

i didn't hold any share but was alert by the other discussion forum on this shares and people were crazy about it hence i went in and checked yesterday and saw the trading halt.

I think this is really wrong and someone should be held accountable for this "wrong information" and market was mislead by it for a considerable length of time and the company was alert to the movement of price and volume twice and replied "nothing they aware of".

And there was sell down by insiders.

All these need to be investigated NZX.


SpaceZ, what was the "other " chat forum ?

[tango]

SpaceZ, what was the "other " chat forum ?

It's been talked about a lot on Facebook. I'm not sure if this is what SpaceZ is referring to.
Lots of excitement for weeks. Now disappointment and confusion.

There are a lot of NZX based groups on FB.
Sharesies has a FB group too

[MarineSalvage]

mine does 20 a fortnight into various funds (if he does chores etc) but he chose several shares for his birthday money - what hadnt been spent on a nerf gun
My 10 years old is investing in Index fund.

[SpaceZ]

SpaceZ, what was the "other " chat forum ?

A Chinese language website called Skykiwi.

[LaserEyeKiwi]

Even at $75mil in asset, how could this be worth 9cps when SKT has $179mil in current assets alone, and only worth 14cps... doesn't compute.

I think you need to do a bit more research about how stock markets work. You cant compare share prices of two different companies without taking into account that each company has a different amount of shares issued. The market capitalisation of a company (what it is worth) is determined by the number of shares x share price.

In this instance Blackwell has 502 million shares issued, while sky tv has 1.74 billion shares issued. So even If both companies theoretically had the same share price, sky tv would be worth almost 250% more than Blackwell.

[Tony Two Gloves]

I sold out of this at $0.035 around two weeks ago and have been beating myself up since. I know this company is a dog and there was no rational reason for the SP to increase - losing money $693K last year, equity of $740K and only had income of $436K. The people behind this company have a poor track record and not surprising were quick off the blocks to sell down. The big question is did they mistate the NTA on purpose? 100% people acted on that info, it is such a masive mistake with 500M shares this would give them a NTA of $75M, they only have 17 loans worth $11M! I can't believe there are still people buying at 3.0C. Anyway glad i'm out and this whole thing now makes sense to me :)

[Akane]

I think you need to do a bit more research about how stock markets work. You cant compare share prices of two different companies without taking into account that each company has a different amount of shares issued. The market capitalisation of a company (what it is worth) is determined by the number of shares x share price.

In this instance Blackwell has 502 million shares issued, while sky tv has 1.74 billion shares issued. So even If both companies theoretically had the same share price, sky tv would be worth almost 250% more than Blackwell.

No, market cap is not relevant to the point I'm trying to make as the "rally" has thrown that number way off. You can't judge the company's true value by a very short snapshot of an out of whack market cap caused by the "rally"

[youngatheart]

And up it goes again. Anyone who sold their shares at open (0.75c) then bought in again at 0.15 would be doing remarkably well as the current sp now 0.35 and rising...

[youngatheart]

And the number of buyers seems to show that it's the Sharesies crowd back again, lol.
Makes sense in a way as most would have offloaded ASAP this morning to now find demand building up with little available to buy again...

[youngatheart]

It's a traders wet dream...

[JSwan]

If I was BGI I would've done a capital raising near the peak, that would've really screwed over some "investors"

Conspiracy theory

Maybe BGI and NZX made an agreement to inject some supply into the market, via the NTA announcement, so that it becomes a trading stock and provide BGI with liquidity and a means of raising capital

[Traderx]

Theory - a number very close to zero of the buyers that pushed BGI up would have any idea what NTA is let alone BGI's NTA.

[youngatheart]

Theory - a number very close to zero of the buyers that pushed BGI up would have any idea what NTA is let alone BGI's NTA.

Haha. I concur.... It's stock speculation (gambling) pure and simple

[SpaceZ]

it reminds me on the "2013 Penny Stock Crash in Singapore"

https://www.cnbc.com/2013/10/24/singapore-launches-probe-into-penny-stocks-crash.html

"Singapore’s central bank and stock market operator are conducting an extensive review of recent share price volatility in three inter-linked Singapore companies, which wiped out billions of dollars in combined market value from the firms."


The perpetrator is on Trial today.
https://www.businesstimes.com.sg/keywords/john-soh-chee-wen#:~:text=Penny%20stock%20scandal's%20accused%20 Soh,%248%20billion%20in%20market%20value.

[nztx]

Almost back at NTA level now at 1.5c, I think I wrote the number correctly...:p

Are you sure that shouldn't be reduced 10 times to 0.15 of a cent per share instead ? ;

NZX rounding records 0.2 of a cent per security

the current SP (@ 3.5 cps) still looks like hyped up fresh air material

[MarineSalvage]

thats what I thought - 15% of 1c... of course this whole debacle has shown how effective New Maths was at school
Are you sure that shouldn't be reduced 10 times to 0.15 of a cent per share instead ? ;

NZX rounding records 0.2 of a cent per security

the current SP (@ 3.5 cps) still looks like hyped up fresh air material

[Cadalac123]

sigh. Feel bad for any new investors that bought around 0.090.. good case study for why you shouldn't chase gains blindly on the stock market though

[tango]

sigh. Feel bad for any new investors that bought around 0.090.. good case study for why you shouldn't chase gains blindly on the stock market though

A lot of Sharesies investors aren't well informed and they would have to be the bulk of the buyers... The biggest trade I have seen is $1000. Sometimes buy/sell orders are split but a lot of the trades are for less than $50

[MarineSalvage]

And they are all back in anyway

[Balance]

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12350835

Multiple directors and senior management had sold shares during the latest rally, and one director sold 5,861,000 shares - more than 1 per cent of the microcap company, broking house Jarden noted.

[MarineSalvage]

The NZX will have to go to the back room and find the wet bus tickets left over from the Watson days

[Balance]

The NZX will have to go to the back room and find the wet bus tickets left over from the Watson days

Nothing will happen with the directors and managers because if anything is found to be in breach of NZX rules, the company pays - not the directors or executives.

[SpaceZ]

Nothing will happen with the directors and managers because if anything is found to be in breach of NZX rules, the company pays - not the directors or executives.

The directors will have some kind of responsibility if it involves wilful blindness. Re: Mainzeal case.


$0.0015 x 100,000. shares = $150 as compare with
$0.15 x 100,000 shares = $ 15,000.

The mistake is obvious to the question of whether there are elements of wilful blindness and disregard. All these involve quality of forensic investigation and preparation.

[MarineSalvage]

In the end the directors sign off the accounts...

[whatsup]

In the end the directors sign off the accounts...

Reminds me of a company not too long ago ( within the last year or so ) that I had shares in of a similar ilk as BGI that had a similar ( mistake !) in their published accounts that were ( released ) to the S Hers and public, when I noticed that ( mistake ) I notified the fish head on the board and reported to him my discovery , how can this be correct as to my mind the amount was two decimal points out, he said straight away , of course you are correct and withdrew the accounts for correction and rerelease .

So why did not this happen this time, do people not thoroughly read accounts that they have shares in when released, and if found to be incorrect notify the fish heads in the company?

[King1212]

What a great well planned heist!

[nztx]

Reminds me of a company not too long ago ( within the last year or so ) that I had shares in of a similar ilk as BGI that had a similar ( mistake !) in their published accounts that were ( released ) to the S Hers and public, when I noticed that ( mistake ) I notified the fish head on the board and reported to him my discovery , how can this be correct as to my mind the amount was two decimal points out, he said straight away , of course you are correct and withdrew the accounts for correction and rerelease .

So why did not this happen this time, do people not thoroughly read accounts that they have shares in when released, and if found to be incorrect notify the fish heads in the company?



ALF -- Allied Farmers was another one, post Share consolidation which had a NZX recorded NTA per share which also looked to be a complete screw up & that situation from memory went on unchanged for months afterwards on NZX Company data page..

[nztx]

https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12350835

Multiple directors and senior management had sold shares during the latest rally, and one director sold 5,861,000 shares - more than 1 per cent of the microcap company, broking house Jarden noted.

but does NZX have appropriately equipped bods onboard to start tracing the share trades to see if anything inappropriate has gone on or there is a visible target to nail a naughty boy ticket on ? ;)

At what point does questionable conduct turn to fraudulent behaviour, if there is evidence of SP jacking up, or is that the point where FMA (bless their sweet little over-rewarded hearts for the onerous task of squatting at a desk trying to look busy, courtesy of the recent heavily hiked fees imposed on all companies etc) or SFO get a call to look in ? ;)

[Sideshow Bob]

In the end the directors sign off the accounts...

The FY19 accounts (and preliminary accounts FY20 page 7) are correct. But one part of the announcement on 25th of June stated the 15c NTA. NZX website must have taken it from there.

Company responsible, NZX perpetuated it.

NZX corrected it very quickly when it was politely pointed out to them that their website info was erroneous.......:blush::lol:

[blackcap]

In the end the directors sign off the accounts...

It's a wonder the auditors did not pick this up?

Ah, I see later that the accounts were correct, somewhere human error transposed a decimal point a few spaces along. Can happen, not the worst thing. But if in the interim some insiders sold their shares that is a bit naughty.

[blackcap]

The FY19 accounts (and preliminary accounts FY20 page 7) are correct. But one part of the announcement on 25th of June stated the 15c NTA. NZX website must have taken it from there.

Company responsible, NZX perpetuated it.

NZX corrected it very quickly when it was politely pointed out to them that their website info was erroneous.......:blush::lol:

I see the NZX is being a bit lazy and taking the company's word for it rather than going to the source document. NZX at fault too.

[MarineSalvage]

This share really did take me back to 1987 when everyone including your taxi driver had an awesome stock tip.... usually a company like Blackwell... but adding Corp onto the end... all of them took off like rockets then ended up in the rubbish heap

[Yvonne]

I actually write to the NZX for the price changing and their wilful change on NTA by 100times. NZX reply is they make enquiries to the company. HOW LAME!! No punishment for wilful behavior in this country. That is what i feel most of the time here.

[Yvonne]

They should be taken to court. If such wilful behavior isnt published. Then who will trust share market any more. Too easy to manipulate isnt it. Non tangiable assest is basically goodwill. But by 100 times. it Appears Very intentional to me. Since the total asset number changes. Equity would be changed too therefore leads to the reported liable taxable income change. So I reported them again to FMA and to IRD as well. Whoever holds this share should do the same. No tolerance to manipulation!!

[nztx]

Currently down to 2.4 c (- 44%) today .. last one out turn off the lights..

[Balance]

Absolute disgrace.

[Sideshow Bob]

Interesting to see if there is any further disclosure notices on directors trading......

[Tony Two Gloves]

Agree - if it was a genuine mistake they must have wondered what the hell is going on and maybe there is a god after all :).

Actually if you are a Director of a shell company with no prospects, income or future and the SP spikes you must have known something is not quite right. After disclosing to the market that there was no reason for this to happen surely you would have to think twice about why your worthless company is now worth $50M!

[whatsup]

Interesting to see if there is any further disclosure notices on directors trading......

and WHO are the directors ?? !!!

[blackcap]

and WHO are the directors ?? !!!

Not hard to find. I see Sean Joyce is chairman.

http://www.bgholdings.co.nz/board-of-directors/

[Yvonne]

Untrustworthy

[whatsup]

Not hard to find. I see Sean Joyce is chairman.

http://www.bgholdings.co.nz/board-of-directors/

fancy that, is sorehead in there as well ?

[Tony Two Gloves]

fancy that, is sorehead in there as well ?
Not sure if he is, gosh those boys have some form don't they - anyone remember Plus SMS??

Good to see the buyers disappearing and the SP down to 0.02 still wildly overpriced at around 13 time the actual NTA value

[Yvonne]

Not sure if he is, gosh those boys have some form don't they - anyone remember Plus SMS??

Good to see the buyers disappearing and the SP down to 0.02 still wildly overpriced at around 13 time the actual NTA value
Two glove pm me he has been holding this share for ten years and sold shares days ago. Obviously, u r waiting for price to drop and buy some. NTA is non tangible asset basically goodwill, how to estimate? no clear rule on that.
How dogy to change that. But who will do business with guys listed on the company website. So untrustworthy. Someday they going to play on other people's interests too. Btw, who suffered loss? I am quite interested to get in touch and put BGI to court together.

[DazRaz]

Two glove pm me he has been holding this share for ten years and sold shares days ago. Obviously, u r waiting for price to drop and buy some. NTA is non tangible asset basically goodwill, how to estimate? no clear rule on that.
How dogy to change that. But who will do business with guys listed on the company website. So untrustworthy. Someday they going to play on other people's interests too. Btw, who suffered loss? I am quite interested to get in touch and put BGI to court together.

The thing people should ask is why did they get caught out? 5 mins of looking at their financial statements should have been enough to scare people off. Learn from it and move on.

[Yvonne]

The thing people should ask is why did they get caught out? 5 mins of looking at their financial statements should have been enough to scare people off. Learn from it and move on.
I can tell u pretty sure in developed countries like UK and USA wilfully change number on financial report is crime. Prison waiting because of the bad intention is breaking the law. Leave such behaviour means tolerance again. U may also work or a relative of the company director. I insist upon my opinion.

[DazRaz]

I can tell u pretty sure in developed countries like UK and USA wilfully change number on financial report is crime. Prison waiting because of the bad intention already broke the law. Leave such behaviour means tolerance again. U may also work or a relative of the company director. I insist upon my opinion.

And their financial statements were audited and correct. The problem was with a return to NZX which had a decimal point wrong and this figure was entered onto the NZX site wrong. People relying on software to find bargains started buying and lifting the price. Then sharesies investors bought on mass. These people did not do any due diligence. People refuse to protect themselves and then want someone else to take responsibility. Sure, a mistake was not picked up. What do you think should happen here?

I have more of a problem with the directors who sold out when the share price was inexplicably high. Heck, even the directors selling up was a big warning sign.

[Yvonne]

Directors know and didnt reveal but reap benefit. This is fail in due diligence

Again, who want to put this to court. Can pm me

[Tony Two Gloves]

Two glove pm me he has been holding this share for ten years and sold shares days ago. Obviously, u r waiting for price to drop and buy some. NTA is non tangible asset basically goodwill, how to estimate? no clear rule on that.
How dogy to change that. But who will do business with guys listed on the company website. So untrustworthy. Someday they going to play on other people's interests too. Btw, who suffered loss? I am quite interested to get in touch and put BGI to court together.

I definitely won't be buying back in, these guys have no business and really are just a shell company so would not be worth more than $1M. With the shares on issue the SP should be no more than .002 cents to get to a market cap of $1M. I'm glad i'm out and won't be buying back in regardless of price. I tend to agree to with others comments that this will be a hiding to nothing and anyone that actually looked at their accounts would see only $11M of loans, $40K of income and a $700K loss for the year and if some were happy to buy at $0.09 cents valuing the company at $50M - well I won't comment on that as it would breach Share Traders T&C's :). It was obvious that the Net Tangible Assets figure was incorrect just that no one picked it up, actually on Direct Broking is still showing at 0.15.......

[Norwest]

This is fail in due diligence

Yes you are right, you failed your own due diligence!

[Hello123]

Yvonne did you hold BGI shares?

[Yvonne]

Yvonne did you hold BGI shares?

When i order to sell the market halted. And next day price dropped dramatically. Since non tangible asset has no confirmed written out regulation to value it. It is quite subjective thing. So can be changed at any time? And fair for public? I dont think so. Welcome people pm me for this and put them to court.

[JSwan]

When i order to sell the market halted. And next day price dropped dramatically. Since non tangible asset has no confirmed written out regulation to value it. It is quite subjective thing. So can be changed at any time? And fair for public? I dont think so. Welcome people pm me for this and put them to court.

I believe it is ultimately the trader's responsibility to do their own research before buying into a stock and not rely on a third party website to report a false "NTA" value, keeping in mind most of the people that bought into BGI probably have never heard of that term in their life.

Doing their own research includes looking at past reports, conducting their own DCF on the company, looking at the company's previous share price trading ranges etc etc.

I don't believe it is the insider's fault for selling shares when they've gone ~1000% for no apparent reason, others would probably do that as well in that situation.

Take it as a lesson learnt and move on

[Yvonne]

Such a coincidence. Director firstly sell at peak and then find out the real subjective value on goodwill should be 100 time less. what a smart show!! Very Untrustworthy people in this company.

Losing thousands of dollars for this?? Can anyone give some respect to rules to NZX

[Hello123]

This is why you must do your own research and always invest what your willing to lose, There is a Sharsies Fb page that i browse and there was a popular post over this the day it crashed and a lot of people were angry yet none of them could give a good answer as to why they had invested in the first place apart from following the trend blindly. Some even felt they did a great job because they had come out with 100s% in return which yes they did but this could have just as easily been them if they had held any longer as they had no reason either.

[DazRaz]

Such a coincidence. Director firstly sell at peak and then find out the real subjective value on goodwill should be 100 time less. what a smart show!! Very Untrustworthy people in this company.

Losing thousands of dollars for this?? Can anyone give some respect to rules to NZX

NTA is Net Tangible Assets not "Non Tangible Assets". It is not "goodwill". I don't believe you bought because of a high NTA figure but because it spend a few days in the top growth bracket for the day. FOMO and dare I say greed caused many people to buy without doing any real analysis.

The directors didn't sell at peak. I don't believe there was any intent to deceive on their part. When it is so easy to check, why would they?

Investing directly in companies isn't for everyone and funds can make share investing easier if the investor lacks time or skills for analysis.

[nztx]

Would you be complaining if it had gone to NZ $0.20 / share ?

Remember, on the stockmarkets - a rapid rise can in absence of pertinent announcements for this - can turn into an equally rapid descent as well .. That is the risk .. That is the nature of the market.
Always do your own research & diligence on a target company of interest, before pressing the Buy / Sell whatever button.
If you are not using a Financial Advisor or Sharebroker who provides specific advice on the share(s) of interest, then ultimately you take that risk on - yourself

That is - risk of Gain or Loss or Status Quo etc, depending on prevailing Market sentiment & movements

To reiterate .. in today's very turbulent & uncertain times in global & domestic markets, it is absolutely essential to research yourself or to seek specific Broker / Financial Adviser advices in Equity Markets or you take all investment risk onboard yourself

There is no automatic guarantee of a share price movement up, down or otherwise, no free lunch, and no guarantee of dividends, a company's performance, performance of any particular sector or the economy etc..

Experienced investors have spent considerable time in watching & analysing Equities that are of interest to them, also the economic conditions and measuring their risk.

[Cottagestyles]

And you may well wonder how much of this sorry mess could have been advoided if folks were paying $15 to $30 brokerage on a $500 minimum investment... brave new world these low/no brokerage platforms.

[Cadalac123]

Such a coincidence. Director firstly sell at peak and then find out the real subjective value on goodwill should be 100 time less. what a smart show!! Very Untrustworthy people in this company.

Losing thousands of dollars for this?? Can anyone give some respect to rules to NZX

While I agree this was extremely dodgy, I feel like you need to take responsibility for your decision of investing into a company with an extremely bad balance sheet and fundamentals. There was no clear reason why it should have been appreciating in shareprice.

It's not your fault and I'm not trying to blame you as it's human nature to chase $$. But you should use this as a lesson and realise that easy money is lost easy too most of the time. You could have exited before the halt, and made some gains why didn't you do that? Either way if you choose to invest with this style understand the risk of a halt occurring when you don't want it to.

[TheHunter]

Such a coincidence. Director firstly sell at peak and then find out the real subjective value on goodwill should be 100 time less. what a smart show!! Very Untrustworthy people in this company.

Losing thousands of dollars for this?? Can anyone give some respect to rules to NZX

Goodwill is excluded from NTA so no luck there bud.

If a share price goes up ~1000% and you join in based on the hype (or thinking NTA includes Goodwill...) and without proper understanding of the company/due diligence it's no one else fault but your own when it falls back to earth.

The Sharesies crowd really need to put some time into proper analysis and understanding of financials, rather than buying penny stocks cos they are cheap or the latest hype. Expensive lesson.

[etrader]

Looking between penny dreadfuls there appears links to directors of both bgi and ACE with the later being 10% of the value of BGI, anyone understand how the value is seen in these shells, I have a few $ in ace and sold on the rise of bgi as it just didn’t warrant 6.5c as it increased

[nztx]

Indirectly I think I still have a few solitary lamp posts in ACE after all repeated dilutions, consolidations etc etc since in-specie distribution over 10 years ago!

I guess they can't knock 1 or 2 lowly free gift shares into any fewer ;)

[nztx]

SP currently down to 1.7 c (- 15%)

[MarineSalvage]

I feel sorry for whoever got left holding them when the game finished

[Sideshow Bob]

Directors know and didnt reveal but reap benefit. This is fail in due diligence

Again, who want to put this to court. Can pm me

How did you select BGI to 'invest' in? Were you guided solely by the NTA on the NZX website? (sure their website will have a disclaimer) Or did you actually read the financial statements? Or was it just a big case of FOMO??

Just need to look at the volumes being traded compared with normal. There had been 2 x price inquiries.

Need to look at this as a learning experience, albeit a costly one. I agree with the comments from DazRaz, TheHunter, JSwan etc. If you don't know what NTA is, then difficult to blame this!

I personally know the person who contacted NZX about the incorrect figure. He sure ain't no financial wizard ;) and nuts to think a random punter spotted it about 4 weeks after being published, and appeared to cause the trading halt. Only took a couple of minutes of reading the financials.....

If you don't know what you are buying, or why you are buying, then don't.....

[Oliver Mander]

I can tell u pretty sure in developed countries like UK and USA wilfully change number on financial report is crime. Prison waiting because of the bad intention is breaking the law. Leave such behaviour means tolerance again. U may also work or a relative of the company director. I insist upon my opinion.

Yvonne, take it from me - the UK, US, Australia et al ALL have their share of penny dreadfuls, in fact usually much more so than here in NZ. That doesn't exonerate those who sold into the rising tide, and there may yet be action from the NZX over the incorrect reporting. It isn't that they "changed" the number - the financial statements are correct, NTA is simply a calculation and it was done incorrectly.

Also - NTA is usually Net Tangible Assets; the opposite of what you have described in your post. It is all the stuff that is real (ie, not intangible). So usually relatively easy to value.

I am not associated with BGI in any way shape or form. And hope never to be.

[SpaceZ]

How did you select BGI to 'invest' in? Were you guided solely by the NTA on the NZX website? (sure their website will have a disclaimer) Or did you actually read the financial statements? Or was it just a big case of FOMO??

Just need to look at the volumes being traded compared with normal. There had been 2 x price inquiries.

Need to look at this as a learning experience, albeit a costly one. I agree with the comments from DazRaz, TheHunter, JSwan etc. If you don't know what NTA is, then difficult to blame this!


Well said.
If one looks at the colourful story behind NZF (its predecessor) and do some research and will understand where the whole thing comes from.
The board is pretty much the same group of people with insertion of 3 new directors.

The original idea was to restructure the company and have derivatives trading. My understanding is this fail to take off.

disclosure: do not hold any shares.

[Traderx]

Had a quick look on Sharesies "Share Club" (FB site). Unfortunately at least one punter has been left holding the bag - losses of up to $13k. Yes they were very foolish (should have read Sharetrader!), but sad as an early intro to "investing". I made similar mistakes in my youth - hopefully a good lesson out of it at least..

[MarineSalvage]

I’ve read through the two threads too... some people tried patiently challenging but seems the loud rampers got louder... I’m surprised the page admin didn’t step in
Had a quick look on Sharesies "Share Club" (FB site). Unfortunately at least one punter has been left holding the bag - losses of up to $13k. Yes they were very foolish (should have read Sharetrader!), but sad as an early intro to "investing". I made similar mistakes in my youth - hopefully a good lesson out of it at least..

[kiora]

When i order to sell the market halted. And next day price dropped dramatically. Since non tangible asset has no confirmed written out regulation to value it. It is quite subjective thing. So can be changed at any time? And fair for public? I dont think so. Welcome people pm me for this and put them to court.

You could try FMA or https://omnibridgeway.com/

[whatsup]

Back down to .01 ( imo where it belongs ) is there going to be any enquiry from the NZX as to this recent shameful run up ?

[DazRaz]

Not sure what you are seeing. On Friday it closed on 0.9c. This morning it started at 1c then showed up as the top gainer for the day at 11%. FOMO is too much and a couple of people are buying at 1.2c. Now shows today's gain at 33%.

No NTA to blame this time. People are just blindly "investing".

[MarineSalvage]

Always people out there looking for penny dreadfuls just like those with their lotto tickets
Not sure what you are seeing. On Friday it closed on 0.9c. This morning it started at 1c then showed up as the top gainer for the day at 11%. FOMO is too much and a couple of people are buying at 1.2c. Now shows today's gain at 33%.

No NTA to blame this time. People are just blindly "investing".

[flyer]

Is it happening again? FOMO or something up? Deja vu?

[MarineSalvage]

The Sharesies Facebook Kraken awakes!
Is it happening again? FOMO or something up? Deja vu?

[nztx]

Goodness - Currently 2.2 c high 2.7 c on a bit over 5 mill volume across 203 trades..

What will NZX's questions & likely answers back this time be ?

[Cadalac123]

Maybe someone on sharesies made 80%+ in one day
Jokes on us !! what a great punt for some im sure. Goes extreme the other way too though :lol:

[Akane]

Maybe someone on sharesies made 80%+ in one day
Jokes on us !! what a great punt for some im sure. Goes extreme the other way too though :lol:

You win big, you lose big, better off putting the $ all on red, instant 100% gain (or losses), but you gotta wait till L3 is over though... :D

[Sideshow Bob]

338911.pdf (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/366308/338911.pdf)

Woof! Woof!

If you can't afford a CEO and a COO, then you must be pretty much......

[whatsup]

Why is this outfit even trading at these rediculous prices , should they be at .001 ?

[whatsup]

I see that BGI is rumoured to be reborn as a possible back door listing.
As it is well known a back door listing is "worth" approx $1 million and as such the current M C of BGI is imo 4 X over priced & should be selling for .002 !!

[Balance]

I see that BGI is rumoured to be reborn as a possible back door listing.
As it is well known a back door listing is "worth" approx $1 million and as such the current M C of BGI is imo 4 X over priced & should be selling for .002 !!

Guess you have not heard the rumour about what's going into BGI then!

[beetills]

Guess you have not heard the rumour about what's going into BGI then!
Does it involve Brent King?

[whatsup]

Does it involve Brent King?

No I havent but imo B K does not thrill me, can you inform me of his business success s ?

[nztx]

Something going on here with BGI ? -- bit of an upswing from lowly 0.004 in recent days to 0.006 today

Or just another obscure forum whispering fat cat bounce before retracing downwards ? ;)

Let's face it, they dont appear to have any continuing business in the camp now ;)

[Balance]

No compensation for those hoodwinked into paying 9c for BGI and now worth 0.5c = 95.5% loss.

But NZX reaps the benefit with a $40,000 fine. :t_down:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/383624/360388.pdf

[JohnnyTheHorse]

No compensation for those hoodwinked into paying 9c for BGI and now worth 0.5c = 95.5% loss.

But NZX reaps the benefit with a $40,000 fine. :t_down:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/383624/360388.pdf

Honestly I'd be surprised if anyone was buying because of the NTA figure. I followed it closely and it was just a 'Sharesies pump'. Basically a fly wheel with more and more buying only because it's going up, then a big dump. Happened with a few other stocks too (CBD).

Doesn't excuse the negligence of BGI however.

[MarineSalvage]

Honestly I'd be surprised if anyone was buying because of the NTA figure. I followed it closely and it was just a 'Sharesies pump'. Basically a fly wheel with more and more buying only because it's going up, then a big dump. Happened with a few other stocks too (CBD).

Doesn't excuse the negligence of BGI however.

Was a mob on Sharesies FB page all falling over themselves to crow about their returns - anyone who pointed out that it was incorrect information was declared to be a "bad investor" - the same crowing crowd then got all angry when lost out, but I suspect none of them had even thought about the NTA - they just saw "Jane from Dunedin" or "Bill from the North Shore" saying how amazing BGI was...

[Sideshow Bob]

The very large majority claiming they invested off the NTA figure clearly are trying to find an excuse for their losses. They hadn't even opened the annual report or questioned anything - and probably don't know what NTA stands for and what the company even did. Although at the same time the NZX couldn't even work out the NTA either.....

It was clearly, to use MarineSalvage's words, the Sharsies mob falling over themselves. I was on the FB page and can recall a wannabe analyst saying price was going to 30-40c. Dangerous stuff, and just FOMO. Unfortunately some of those got burnt badly.

Just had a look back to july 2020 and there was a post asking what was going on with BGI. 205 replies....

"To the moon!!"
"Everyone back in, 10 cents here we come"
"I'm new to this but what exactly is Net Tangible Asset"
"This has been the most insane ride ever!"
"Are people going to sell at this point? I'm so confused on what to do."
"I'm at 310% return and its still going up!"

What I had a good laugh in the announcement was this:


NZ RegCo subsequently assessed that the NTA was potentially incorrect, and sought clarification from BGI. BGI’s shares were placed into a trading halt on 23 July 2020, pending validation by BGI. BGI confirmed that the NTA figure was incorrect, and released a market announcement to this effect at 4.02pm. Trading in BGI’s shares resumed on 24 July 2020, and BGI’s share price fell from $0.091 to $0.043 that day, falling further to $0.015 by 31 July 2020.

I actually emailed the NZX on the 22nd of July 2020 to raise the issue that the stated NTA was incorrect, and received a response from the NZX the morning of the 23rd and went into a trading halt 1hr 49 minutes later. So it appears that I triggered the trading halt and subsequent drop in price to a usual level. :ohmy:

I'm actually quite proud that I highlighted this. Shoddy and extremely sloppy of the company, especially when repeatedly putting out incorrect info over time. $40,000 is nothing when there was substantial director sales, selling quite a few million in shares, and sizeable profits. Very shameful. :t_down::mad ;:

I feel very sorry for those who lost their money, but it would have happened at some stage when someone else hightlighted this issue, and more people might have lost by then. Hopefully some look at it as a learning experience. Last time I looked, it was a company that had less than $1m in assets, turned over <$1m, it loss was half its turnover and at its peak was valued over $42m. So no one was really looking.

[nztx]

Whispers out on some Asian forum were rumored to be reason for rapid SP rise, if I remember
correctly ? ;)

[Sideshow Bob]

Woof Woof!! At least they managed to get the NTA correct by the looks of it......;)

Sept 2021 Interim Report WP.xlsx (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/383704/360499.pdf)

Microsoft Word - DRAFT Interim Sept 2021 accounts (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/383704/360500.pdf)

[Sideshow Bob]

Its still going.....another great year.....

Microsoft Word - DRAFT Preliminary 2022 annuals (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/392977/371912.pdf)

[MarineSalvage]

you realise if you say "another great year" the Sharesies mob will actually believe you...
Its still going.....another great year.....

Microsoft Word - DRAFT Preliminary 2022 annuals (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/392977/371912.pdf)

[Sideshow Bob]

For all those Sharesies holders out there......:sleep:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/412214/395464.pdf

[nztx]

Are they still trying to find the Reverse knob for an 'RTO' movement ?

Seem to be a few shells listed out there with similar aspirations

Note how the Cap changes increase certain stakeholders lots to capitalise in
loans provided to keep 'advertising' availability for RTO action


Only a quarter of a Million cost for jogging on the spot in the last reported period
but probably includes a fair chunk of accrued Director junkets, incase an opportunity
presents itself as respectable..


$138K in past two periods - most would have to ask - what were Directors doing to warrant
that level of remuneration, based on activity levels and what has resulted ? ;)

[nztx]

For all those Sharesies holders out there......:sleep:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/412214/395464.pdf

Might be a few sitting hoping for another dead cat bounce up to 9c levels on a Chinese whisper :)

[nztx]

Here's the link to the earlier NZ Finance (NZF) thread - same company, now BGI

https://www.sharetrader.co.nz/showthread.php?1066-NZ-Finance-Building-an-Empire/page15

[winner69]

Director incarcerated in Phillipines and nobody at BGI knew

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/429866/417087.pdf

[Sideshow Bob]

Director incarcerated in Phillipines and nobody at BGI knew

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/429866/417087.pdf

Thought AI would have told them that…..

[nztx]

Director incarcerated in Phillipines and nobody at BGI knew

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/429866/417087.pdf


2023 Annual Report:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/413834/397400.pdf



Note 24.3

Directors Shareholdings

Director Holder(s) 2023 2022

Kaw Sing Chai (Michael) Kaw Sing Chai (Michael) 55,871,667 55,871,667


As at 31 March 2023, Kaw Sing Chai also has 100% shareholding in Blackwell Global Group Limited (2022:
100%) which holds 482,929,770 shares in the Group (2022: 382,929,770).

During 2019 and 2018, bonds were issued to Blackwell Global Group Limited based in Singapore in which Kaw
Sing Chai has shareholding interests. Refer to note 17 for further details.

Largest Shareholders

Shareholder data in Additional Information is as at 31 March 2023, unless otherwise stated.

1 Blackwell Global Group Limited 482,929,770 71.68%


That's the major indirect shareholder in a stew - lets see what comes out of this & what eventuates ;)

Will Mr Joyce be able to pull something magical out of the hat ? ;)

[Sideshow Bob]

Oh, he's resigned!!

And they've changed the name of the company!!

https://www.nzx.com/announcements/429927

At the request of the independent directors, Mr Michael Chai has resigned as a director of the Company with immediate effect. As a consequence, his alternate director Steve Chua has ceased to hold office.

Given Mr Chai’s departure, and the independent directors wish to separate the activities of Mr Chai, who is also a director of the major shareholder of the Company, from the Company, the Board of the Company have resolved to change the name of the Company to “RTO Limited” and the Company’s ticker code from “BGI” to “RTO” with effect from 1 May 2024.

[Sideshow Bob]

https://www.nzx.com/announcements/430017

The Company’s major shareholder, Blackwell Global Group Limited (“Shareholder”) holds Secured Bonds issued by the Company for the sum of $550,000.

At the request of the independent directors, the Shareholder has agreed to forgive the repayment of $200,000 of those Secured Bonds with immediate effect.

These funds, together with the additional free cash held by the Company, will be deployed by the Board towards:

• the payment of the Company’s ongoing compliance and administrative costs; and
• investigating a reverse takeover transaction. Any reverse takeover transaction will have the effect of diluting down the Shareholder’s shareholding interest, and Mr Chai’s personal shareholding interest in the Company significantly.

The Board proposes to work with the Shareholder to restructure the outstanding balance of Secured Bonds, either through the further forgiveness of all or some of those Secured Bonds, or the capitalisation of those Secured Bonds into ordinary fully paid shares during the course of this financial year.

The focus of the Board now is to actively pursue a reverse listing transaction.

[Sideshow Bob]

Another Being AI debacle incoming?? :mellow:

[nztx]

https://www.nzx.com/announcements/430017

The Company’s major shareholder, Blackwell Global Group Limited (“Shareholder”) holds Secured Bonds issued by the Company for the sum of $550,000.

At the request of the independent directors, the Shareholder has agreed to forgive the repayment of $200,000 of those Secured Bonds with immediate effect.

These funds, together with the additional free cash held by the Company, will be deployed by the Board towards:

• the payment of the Company’s ongoing compliance and administrative costs; and
• investigating a reverse takeover transaction. Any reverse takeover transaction will have the effect of diluting down the Shareholder’s shareholding interest, and Mr Chai’s personal shareholding interest in the Company significantly.

The Board proposes to work with the Shareholder to restructure the outstanding balance of Secured Bonds, either through the further forgiveness of all or some of those Secured Bonds, or the capitalisation of those Secured Bonds into ordinary fully paid shares during the course of this financial year.

The focus of the Board now is to actively pursue a reverse listing transaction.


The actively or the pursuing going up another gear ? ;)

The previous one might have been a slower gear ..


Was an OIO approval given by the powers that be for Chai & his company being of good wholesome standing as major holders in the past ? ;)

[whatsup]

No compensation for those hoodwinked into paying 9c for BGI and now worth 0.5c = 95.5% loss.

But NZX reaps the benefit with a $40,000 fine. :t_down:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BGI/383624/360388.pdf

Were any of those the Huljich family ?

[nztx]

It might be off to the races soon :)

[whatsup]

It might be off to the races soon :)

Hope they dont use the Ellerslie track !

[nztx]

Hope they dont use the Ellerslie track !


4's & 5's now .. must be some renewed interest that Mr Joyce pulls another bundle of joy out of the hat for stakeholders

AIR might make Ellerslie an extra premium air haul in - 3 legs & 5 arms added on top :)

A shame that the indirect BGI majority holder tucked up in an Asian jail with a now tarnished image couldn't have been completely ditched ;)

[whatsup]

4's & 5's now .. must be some renewed interest that Mr Joyce pulls another bundle of joy out of the hat for stakeholders

AIR might make Ellerslie an extra premium air haul in - 3 legs & 5 arms added on top :)

A shame that the indirect BGI majority holder tucked up in an Asian jail with a now tarnished image couldn't have been completely ditched ;)

Thats what he does, some very good some very very bad IMHO.

[nztx]

Thank you very much .. now in the spectator stands watching for further joy :)

[nztx]

Now ticker - RTO - RTO Limited


Just to help those digging in the Lost & Found pile :)