$4 mill is alot to lose without someone knowing something
Only 50% of their average reported closing Y/E inventory for 2019 & 2020
And around 1/3 of their reported Y/E 2020 Shareholders Funds
Latest report - they seem to be saying an Insurance Recovery not thought possible
Now surely someone in a Warehouse would be very aware that things were badly astray
between what Stock Records & Physical in hand Stocks looked like ?
Were they asleep or were Management & Top Brass having a nap or just chose not to
disclose it until the problem couldn't be ignored ?
None of what’s been reported makes sense. Rightly or wrongly I am holding onto the shares that I have and will wait for the facts to come out and then make a decision. What puzzles me is that this is a small business and I would expect Ronnie to have his finger on the pulse. To be blind sided by a $4m “miss appropriation “ totally puzzles me.
None of what’s been reported makes sense. Rightly or wrongly I am holding onto the shares that I have and will wait for the facts to come out and then make a decision. What puzzles me is that this is a small business and I would expect Ronnie to have his finger on the pulse. To be blind sided by a $4m “miss appropriation “ totally puzzles me.
You have touched on what I see as a high risk of this co.
Ronnie is a major shareholder, and mover & shaker in this business.
If he drops dead tomorrow, or has an eye off the ball moment, whats the succession plan and oversight?
Its a bit like a one trick pony.
You have touched on what I see as a high risk of this co.
Ronnie is a major shareholder, and mover & shaker in this business.
If he drops dead tomorrow, or has an eye off the ball moment, whats the succession plan and oversight?
Its a bit like a one trick pony.
Exactly - further more it highlights risks of a Company Warehouse in China operating far away from NZ
& top brass stuck within closed borders here in NZ for time being.
That aside, so far on what the market has been fed, it would appear $4 million or roughly 1/2 their
Y/E inventory has up and walked out of the Company operated Chinese warehouse, all by itself and
no-one reportedly knows or saw anything .. or did they ?
Last edited by nztx; 03-11-2020 at 04:39 PM.
Reason: add more
.. Meanwhile 7 days further on .. No sign of any spilt Milkpowder and all quiet.
Not even the slightest squeak or murmur out of QEX .. like if we all go quiet
the issue might be forgotten & go away (that is until next reporting date)
.. Meanwhile 7 days further on .. No sign of any spilt Milkpowder and all quiet.
Not even the slightest squeak or murmur out of QEX .. like if we all go quiet
the issue might be forgotten & go away (that is until next reporting date)
Im out for now at a loss until I see some upside. I lost believing in a story that never existed once (Wynyard). I don't want it to happen by accident again.
Im out for now at a loss until I see some upside. I lost believing in a story that never existed once (Wynyard). I don't want it to happen by accident again.
Out before jumping in .. fortunately
the perils of global trade - Asia - China - i's not dotted t's not crossed risk
in current times - with a small low resourced operator pulling Low margin on Volume
(some stock obviously on loan etc) I'm afraid raised a Red Flag here
Originally Posted by TargetRoad
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