PVO

[Hoop]

Hi Yeti.
As a first time poster to ST today a friendly welcome from me. I see that you have been a member since Jan 2008 so I gather you have only used this website infrequently to watch & read.

Now some constructive criticism..

I've just had a quick look over the entire PVO thread .....OK..in your defense Yeti.. some posters can be a bit dodgy.. but most posters on this thread are to be respected.... Ratkin and most other posters have written nothing but negative comments about PVO....so my question to you Yeti, is why did you invest in PVO??...it seems you didn't do your homework on PVO.

We all make disasters..my last one was BIO I knew the management in BIO was dodgy at best.but it was my choice to buy in and when BIO unraveled and I bailed out for a large loss I did not blame the management I blamed myself...Will I learn from my mistake...probably not as I will no doubt experience another disaster at some future point...

...Most disasters are unseen but in PVO case it was foreseen..

It's a pity Yeti that you have decided to stop share investing...however it is not everyone's cup of tea.. To be successful in any business (as you well know), you have to dedicate your time to it and work hard and efficiently...share investing is no different...to make money your have to work for it...I personally spend many hours each day.

Lastly...I disagree with your anti NZ business stance...I don't believe NZ managers are all idiots ..Winner69 has pointed out that PVO had some good caliber people on board...On a Global comparision I think we are near the top of the list for good management practices. 5th in the world I think from memory...some of the reasons are obvious such as compulsory transparency/systemic rules, open mindedness, and low corruption rate.

Yeti... I realise you have limited time due to dedicating that time to your business ...and so it should be ..good on ya...and all the best.

PS: Yeti.. Open up a thread in the future and let us know how you doing.

Cheers Hoop

[Yetti]

Been great in business is about delivering on every cord. He got one right and failed in another which is PVO. Ok he spent years thinking and working on Navman and then sold it in a hot market to a company who didn't do there homework. It's an ok product. I won't say he got lucky but he had two very smart people who have gone on to bigger things. Then he went to PVO and added Zero and was part of a company who tried to be smart in markets that have not taken off. Thats the facts. Interesting to see what he sinks his money into next. Nice guy but who wants to be a one hit wonder in technology. Many get lucky in this market, not many can reproduce.

[moimoi]

this will be one to keep on close eye on to determine who ends up getting the business which in the words of todays announcement...""the directors believe that the underlying trading business is fundamentally sound and capable of generating good returns in the future.""...for whom.??

and as per usual with EVERY listed company failure in this country the end situation is inflamed by extensive non disclosure leading up to it...

""with revenues in the May to July period being less than budget,
putting added strain on cash, which in turn meant even product supplies to
meet current orders could not be secured""

So where was the market update in may or june stating that suppliers to the company were no longer providing supplies.???????? HELLO...its now august!!!!!!

How is the humble shareholder supposed to determine that information for themselves?? Knock on ANZ's door and ask them.??

Cadmus, largely debt free at the time should never have merged with PVO. The debt laden PVO a low margin reseller of offshore made hypercom terminals had no future.

Should never have sold Vantex, their sole method of trading out of the ****e.

""It has always been the intention to recapitalize the group""...ok so why didn't you do it a year ago?? the debt to ANZ was never going anywhere.

I should of known when reading the marketing departments outline of the departure of Jim Doyle and Gavin Sebire recently. The stenchometer must have been dulled by too many Mac's.

And whats with the extensive attempt to suggest that the company "asked" the bank to appoint receivers.??? Even the headline to the announcement "provencocadmus asks ANZ National to appoint receivers"... has the announcement been written by the ANZ's marketing department.??

gave it the benefit of the doubt and stayed in it largely as a result of a conversation with Maire after the last AGM...

never again.!!!!!!!

[Dr_Who]

Just another (plenty of others) good example not to buy in with the big boys. Can't be bothered looking it up but what have Todds lost on this? About 17mill I think. Drop in the bucket.

Drop in the bucket or just one of a number of loses in this financial crisis.

As a Chinese fella told me, 50 cents here 50 cents there makes many dollars.

I ve heard so many times from these so called wealthy people that keeps using the words, oh its only small change for us, but yet it does hurt and hurt alot for them. Alot of well off have been hurt bad in this crash.

[moimoi]

anyone know if PVO shareholders will receive a receivers report.?

It is rank that the "sale" of the business is not being disclosed.!!!

[whatsup]

Moi... I think that can be accessed through the companies office.

[moimoi]

sold $6 Mill ??

Management, Directors, and the 2 largest shareholders............hang your heads in shame!!!

you couldn't come to market for $6m.?

that was all it took to remove the ANZ.!

[Scuffer]

$6 million buys a lot of SPY shares

[Dr_Who]

PVO will survive.

Underlying businesses are good businesses. The company was buggered by incompetent management and directors all chasing the glory stuff. The glory stuff is gone and it's now back to basics.

Oops. What do have here?

[Balance]

Trading Halt .... surely not the last rites

Glad Belg and balance got out on the last run up in the shareprice

LOL - you are too late, Dr Who, as per usual.

Try another.