Galileo Inn. Share Discussion Threads

[croasdalelfc] 01/10/2003 00:15

What happens next? - PS I'm not in a position to write it off as a tax loss

[hugepants] 30/9/2003 22:55

MrK

People are investing hard earned cash. All Im asking is that you try and be objective. Your thread on a supposed 'interview' with Mark Warburton may have cost many naive investors a lot of money. Try and be more responsible in future and dont post total sh*te.

[mrkournikova] 30/9/2003 22:31

Incidentally HugePants seeing as you seem to know what you're doing would you care to pass on some of your own BUY recommendations?

Thanks

Mr K

[mrkournikova] 30/9/2003 22:29

Hi,

Don't you get the feeling that the ADVFN bulletin board is degenerating into victimising of fellow posters? Such a shame, I wonder who the culprits are?

HugePants, I'll grant you that. I simply won't be passing on information from a company director ever again, I'll base my postings upon real hard facts from RNS releases, well supposed hard facts anyway. As far as I am concerned Mark Warburton is a liar who doesn't know black from white. As a director he is useless and I hope I never hear his name ever again.

Mr K

[simonevans] 30/9/2003 22:28

What a disgrace.....the directors on this one obviously enjoy inflicting pain on their shareholders. I do hope that the directors (including Lamont) are treated as crooks from now on by the rest of the business world, because that is what they surely are. I guess we will never get to know what really happened as they haven't got the decency to explain.

[hugepants] 30/9/2003 22:21

Just to clarify, I never bought shares in GAI but I previously owned shares in incubator type companies. I was immediately suspsicious when GAI announced the imminent floatation of 3 companies that were meant to occur in the same day. I would be surprised if there had been 3 floations in the entire AIM market in the previous 12 months!!!

MrK may claim to be 19 years old but he is one of these posters who is certainly persuasive. His 'interview with Mark Warburton' in hindsight looks at best absolute pish, at worst downright lies. MrK please try and understand that there are some naive investors who may base their buy/sell decisions on postings on public message boards. In future please try and be objective and truthful when you post supposed information from a company director.

[mrkournikova] 30/9/2003 22:16

Hi Knitcraft,

I did not have privileged information whatsoever. I did however state many a time that I phoned the company and spoke with a director, experienced professional investors do this day in day out. When the company was suspended Mr Warburton was not often around and so I was given his mobile telephone number on which to contact him which I duly did. I was given an update on how procedures were going and led to believe that it would all turn out well in the end. I tried my best to keep readers informed of events and did so in the knowledge that what I was writing was the truth.

The more I learn about stocks and shares the more I realise there is to learn. You can never hope to learn everything about the way the markets work, when I'm 60 I'll still realise that there is so much more to learn. I am lucky to know the people I do who are willing to teach me and when I graduate from university I hope to be working in Investment Banking. There is no greater lesson than investing first hand and actually losing money yourself. I didn't mean to lose money on Galileo but poor judgement on my behalf saw that I did. You simply can't win 'em all!

Knitcraft, I too am sorry to sound patronising when I say that your punctuation and literacy leaves a lot to be desired. Although I'm sure that when I say that, I do so safe in the knowledge that I do not have privileged information on which to base my conclusions.

Having spoken to a few people I do appreciate that if we are to get anything out of Galileo at all it will take months. We live and learn.

Best Wishes,

Mr K

[farsight] 30/9/2003 17:49

Steer clear of AIM guys.

[knitcraft] 30/9/2003 17:35

Mr K

Sorry to sound patronising but you have a lot to learn about stocks and shares , and some of the people who run these type of companies.You have sounded too clever by half on this thread and appeared very naive.I sincerely hope you have not lost too much But it was obvious 12 months ago this company was in a right mess and you and others have kept telling us that all would turn out OK in the end.You suggested you had priviledged info, which was untrue .The least you can do is apologise and accept you couldn`t see the obvious. No shareholder will get 1p out of this and nobody will be held accountable.We all invest with our eyes wide open , even accepting that fraud can occur in any company. It is very rare anyone is prosecuted in these small co`s,Anyone remember Monticello,Eurotelecom etc.The plumber is just that, a plumber,not necessarily a crook but.....Cyprotex had a narrow escape so did Oystertech.
Hope he stays in Spain for the foreseeable future.

[fozdad] 30/9/2003 15:59

I believe the chief scoundrel was last heard of in Spain, flogging properties, opening wine bars and bragging about how much money he is making

[he who does venture] 30/9/2003 15:57

Got to laugh haven't you - they've taken our money - spent it - and then not notified us what they've spent it on.
I'm pretty sure that the results would have been such an embarrassment
that they dare not publish them, would it have included directors salaries, past, present and future? MrK, you say not but I wouldn't trust these lot with your bargepole never mind mine!
Can't see us getting anything (except tax rebates), interested to see where these scoundrels go "working" next.
Last wind up that I was in took around 14months including notification from my broker that the tax man accepted this as a write off.

[mrkournikova] 30/9/2003 15:09

Hi Grebo,

Yes I agree. Many thanks a sensible post.

Mr K

[smartypants] 30/9/2003 15:03

dosn,t mattter when it will be completed
liqidators will eat up what is left
u will get nowt
and you will not get that befor christmas 2005

[mrkournikova] 30/9/2003 14:56

Hi

Well perhaps you would like to suggest when you think the winding up process will be completed?

I'm 19 years old so perhaps offering a bit of support as opposed to stupid comments like that might be useful.

Mr K

[grebo] 30/9/2003 14:48

Completed by christmas? And I thought some of your earlier posts showed a vast lack of experience.

LOL

[mrkournikova] 30/9/2003 14:07

Hi,

This is a very disappointing end to affairs and I am disappointed just like all shareholders are feeling at the moment.

As Sreddy says at least the company is solvent. Solvent meaning that it can pay all its creditors within 12 months. But then what creditors can Galileo have at the moment? We have no idea of the cash Galileo has left but we do know it received £400k from its last remaining asset, Sense-Sonic.

Looks to me as though the property was leasehold and not freehold, can anyone confirm this? Tangible assets are negligable, c.£25k after depreciation from the only interim results.

So, the liquidator will be appointed and once creditors are all paid off us shareholders will get what is leftover distributed amongst us. I can't see the whole process taking too long, hopefully will be completeted by Christmas.

A harsh lesson for me this, but hopefully I can move forward and learn.

Regards

Mr K

[nav_mike] 30/9/2003 13:46

jubjee

Thats what annoyed me so intensely. By putting the company into the winding up process, they have side stepped the need to produce the accounts. At best we may get a statement of affairs with some broad brush strokes saying how we got the position shown.

Im sorry but these guys arent unlucky, unfortunate or anything else kind some may say about them. They are playing the system like experts.

[cappagh] 30/9/2003 13:41

Ask mrk and sreddy, they claim to know!

[jubjee] 30/9/2003 13:24

WHAT THE F... IS THAT FOR A STATEMENT?

where are the results?

what has happened to all the cash in the bank?

what happened to the proposed cash shell?

does this mean the directors dont need to declare to the shareholders what they have done with money?

[sreddy] 30/9/2003 10:59

At least it is solvent, so I might get back more than the £Nil they are valued at in my portfolio. Failing that, at least I will get 1.1p (40%) back by claiming the loss in a negligible value claim.

[nav_mike] 30/9/2003 10:55

.....and the directors find a nice way not to produce results explaining their calamitous spell in charge of our money.

How nice that its a 'solvent' liquidation - just one hell of a lot less solvent than a year ago when they issued those ill chosen floatation releases

[smartypants] 30/9/2003 10:49

what a result
never thort i would be happy to have taken my £1000 loss !

[jubjee] 30/9/2003 10:08

No news yet? GAI's RNS said results by today :o(