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  1. #141
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    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

  2. #142
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    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
    Last edited by nztx; 28-07-2020 at 11:54 PM.

  3. #143
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    SP currently down to 1.7 c (- 15%)

  4. #144
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    I feel sorry for whoever got left holding them when the game finished

  5. #145
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    Quote Originally Posted by Yvonne View Post
    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.....
    Last edited by Sideshow Bob; 29-07-2020 at 01:53 PM.

  6. #146
    CEO, NZ Shareholders Association
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    Quote Originally Posted by Yvonne View Post
    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.

  7. #147
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    Quote Originally Posted by Sideshow Bob View Post
    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.
    Last edited by SpaceZ; 30-07-2020 at 08:48 AM.

  8. #148
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    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..

  9. #149
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    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
    Quote Originally Posted by Traderx View Post
    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..

  10. #150
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    Quote Originally Posted by Yvonne View Post
    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/

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