Don't know whether to laugh or cry at this comment on Sleepyheads dealinfo message board
'.I never even realised that they owed so much to the ANZ-I am still don't know the answer to this and if you could enlighten me that much appreciated ..Maybe it was my fault not reading the prospectus (ie reading between the lines as to what they company was really like) Oh well have a good day'
Another one of those 'mum and dads' sucked in eh
If all those posting on the message have enough votes between them GH can kiss Feltex goodbye ... the emotion and the passion is so high even a higher bid won't change the mind of those who want to f*** GH
Sleepyhead probably find it hard to jsutify a deal ... so FTX goes broke .... and shareholders zilch I think .... and alas no recovery to gain frim NEW money .... never mind
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
quote:Originally posted by belgarion
IMHO there has been a 'orchestrated programme to deceive the average investor'.
and if we read your posts over the last few months, it was you in the thick of it all, scheming & rubbing your greedy hands together with glee over the stupid mums and dads selling to the mighty winking Belg who was going to make a killing.
you just look a fool and a hypocrite.
and most have come to expect nothing more from you...
don't feel the least bit sorry if you lose the lot and I am sure many would feel that way after your posturing on this thread.
Your last post is exactly why forum contributors should not be harping on about the amount of time it is taking NZO to bring the PRCC float to the market. The longer NZO waits the more informed the prosectus will be. Then if they missed the prospectus targets, the exact same people will then harp on about management misinforming the market.
A prospectus is not an exact science but a projection. If the market outlook changes then the projection will change. Therefore the question is 'how could the FTX management and prospectus auditors get the market so wrong'.
I’m not so sure that FTX got the market wrong – after all GH and CAV aren’t in the same position that FTX finds itself. What FTX has got wrong is the management of their business.
For example if Magill was doing a good job they should have kept him on. If he was doing a poor job they should have given him a chance to improve and then fire him without any golden handshake. The FTX Board obviously has a culture of rewarding incompetence so it should be of no surprise debt ballooned to reward those who added not a jot to shareholder value.
If the sales team wasn’t generating sales – that is a reflection of the sales team not the market. If the finance team don’t know where to put certain entries in their reporting, that is not a reflection of the market. If GH want a free peak at the inside of FTX and Saunders says “Hey, lets give you a shot at getting another mil to recoup your previous losses” good luck to GH, but don’t blame the market.
Time to end the excuses and for the Board to lead from the front. They should accept they didn’t have the competence to provide the governance a business like FTX needed. Fall on your swords guys and don’t take any handouts for your shoddy efforts!
Last year FTX released its YE Audited Results on 24 August. With their improvements in the management structure no doubt reporting systems are better than they were so there should be no delay beyond 24 August 06 for releasing the YE results.
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