Blackwell International (BGI)

[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!