ALF - Allied Farmers Limited

[troyvdh]

...and to think...Madoff is jail....Hotchins...is In hawaii....both ran ponzi schemes....madoff should have gotten NZ citizenship...he would have been in Hawaii as well....even though i lost no money to these mongrels...I cannot believe how they got away with it..and then to fluant the ill gotten gains so blatanatly...and still they only throw eggs........its quite pitifull really....and sad

[Vtrader]

I ve been saying ALF will go to 5 cents for many months now. I still cant believe why anyone would pay a premium to the so called "NTA" for a high risk stock. Thats assume there are no more hidden nasties that can surprise us.

Now that this has been achieved, what is the next mile stone... 4, 3, ... 10?
V.

[Stranger_Danger]

I've got no idea what roads it will drive on day by day, but the destination is definitely zero.

[yabster]

Due dilgence - what due Dilgence? I feel for the orginal ALF shareholders. They should be giving it to the current management for taking the deal- what a shambles!

[Alan3285]

Due dilgence - what due Dilgence? I feel for the orginal ALF shareholders. They should be giving it to the current management for taking the deal- what a shambles!

Yes, except that if you think (thought) that the ALF pre-Hanover was stuffed already, then the Hanover deal can only have improved the chances of ALF surviving - no way for it to have been negative that I can see?

Alan.

[whatsup]

...and to think...Madoff is jail....Hotchins...is In hawaii....both ran ponzi schemes....madoff should have gotten NZ citizenship...he would have been in Hawaii as well....even though i lost no money to these mongrels...I cannot believe how they got away with it..and then to fluant the ill gotten gains so blatanatly...and still they only throw eggs........its quite pitifull really....and sad

Troy..., As much as I dislike Hotchin, et al I think its a bit of a long bow saying that he ran a ponzi scheme , it could also be a liableist call if made in public even made on a web page/site as this one, be very cautish what you say the liable laws are not worth 30 seconds of fame

[percy]

Yes, except that if you think (thought) that the ALF pre-Hanover was stuffed already, then the Hanover deal can only have improved the chances of ALF surviving - no way for it to have been negative that I can see?

Alan.

There is a word I am looking for that really conveys well stuffed.........
Yes AlF was well stuffed.They would have been gone by now without Hanover.Same as Dominion Finance.Gone.Liabilities far excede Assets you do not stay in business. Yes people were trading DFH shares right up to the end.Why? I do not know.I would expect ALF to remain positive to the end.Why? I do not know.I would expect people to trade ALF right up to the end.Why?I do not know.I do know I will not go near them!!!!1

[troyvdh]

...whatsup....thanks for that ...re a long bow....I think not.....should you search for Brian Gaynors contributions (If I could ...which I cant I would cut and paste blah blah) you will find an article where he precisely states just that .....that the activites of Hotchin et al were nothing short of a "ponzi like" scheme....in that the outgoings ...payements for those recieving interest on there "investments" were only sustainable by contributions of new "investors".....incoming income was only possible if the developers sold the properties blah blah...interest payments were made then......when the "investments were sold".......with all due respect ...am I incorrect here or what....

PS I am a nurse not an accoutant...however i believe I can differentiate between right and wrong, cheers

fame....what

[Dr_Who]

Now that this has been achieved, what is the next mile stone... 4, 3, ... 10?
V.

Vtrader, there is alot of things I would like to air about Hangover and other finance companies on here, but have decided not to for obvious reasons. What I can say is, you will never see me invest in ALF, PGC, SCF and others in similar structure.

[Doyle]

...whatsup....thanks for that ...re a long bow....I think not.....should you search for Brian Gaynors contributions (If I could ...which I cant I would cut and paste blah blah) you will find an article where he precisely states just that .....that the activites of Hotchin et al were nothing short of a "ponzi like" scheme....in that the outgoings ...payements for those recieving interest on there "investments" were only sustainable by contributions of new "investors".....incoming income was only possible if the developers sold the properties blah blah...interest payments were made then......when the "investments were sold".......with all due respect ...am I incorrect here or what....

PS I am a nurse not an accoutant...however i believe I can differentiate between right and wrong, cheers



fame....what

Exactly a long bow. On paper hanover was profitable its debtors jst didn;t pay. On paper Madoff was a fraud, he created profits that simply didn't exist.

Hanover didn't have proper credit control procedures (not even close) unfortunately this isn't illegal.
Hotchin and Watson took out paper profits as divedends, even when cashflow was negative. Again this is probably completely legal, and even if it wasn't, we are only talking about 60 million dollars.

So ultimately you a drawing a very long bow.

Hotchin and Watson are guilty of dubious busines practice and being goodtime merchants. Madoff was quilty of fraud.