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GAI Galileo Inn.

0.00
0.00 (0.00%)
Last Updated: -
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Galileo Inn. LSE:GAI London Ordinary Share GB0031286759 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% - 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Galileo Inn. Share Discussion Threads

Showing 3026 to 3046 of 3225 messages
Chat Pages: 129  128  127  126  125  124  123  122  121  120  119  118  Older
DateSubjectAuthorDiscuss
02/10/2003
22:41
err

WHERE DID THE MONEY GO?

£5,000,000.00

WHERE DID THE MONEY GO?

jubjee
02/10/2003
14:50
With whose money will they use to defendit?
cappagh
02/10/2003
10:46
I do agree with that, but I'll get a meeting with a couple of 'no win no fee' firms, and see what the options are. As far as time is concerned, I accept it'll take as long as it takes.

Regards

chaz99
02/10/2003
10:43
unless you're incredibly wealthy it's just not worth it, their lawyers will tie you up for years.

would love to though, in principle, but time would be better spent re-couping these losses elsewhere.

knopfler
02/10/2003
10:38
Anyone interested in suing the directors with me?
chaz99
02/10/2003
09:23
Talk from a real women.
cappagh
02/10/2003
07:51
knitcraft,

LOL.

1. I don't think you are qualified to call anyone a fool.

2. You certainly seem qualified to call people cleverer than you.

3. You are very patronising to call others mugs and gullible. Feeling superior are you?

4. Get your facts straight. Follow the actual trades and timings and reasons given, not the imaginations of your mind. Eg. PRM is a penny share is it?

5. Don't bother replying because you are filtered.


cappagh,

Grow up you baby.

You are filtered as well - I can't stand your constant whining.

sreddy
01/10/2003
16:22
Cappagh........

A very loud 3 cheers for taking the trouble to find and copy Mr K`s posts.

The lad is a complete fool IMHO and will come a mighty cropper if he conducts himself in the way he has done with GAI.

Sreddy has a similar approach but is far cleverer.... she tells everyone after she buys, the mugs pile in, and she sells just as she lets us know she is a dynamic investor and she has found somewhere likely to be more profitable and the whole roundabout begins again with all her acolytes hanging on to her skirt. Come in Mr Kournikova.

She is a lucky punter kidding the gullible on bulletin boards that she knows in detail what is happening with companies.In fact she is trading on her partly self created demand to make a quick turn on moostly penny shares, with above average stakes.SHE WILL END UP LOSING a packet when conditions change.

Now wait for the vitriole that always follows a post questioning her methods.

knitcraft
01/10/2003
15:44
CraigyBoy
We don't buy on what we read on the
BB we buy on the promises of the companies.
We don't blame other posters for losing
our money as its us that have bought the
shares. We feal bitter about the lies
GAI have told us and the things they have hidden.
Also the know-alls on this board that have told
lies from the start. All they wanted to do is look big.

cappagh
01/10/2003
13:40
Sorry to poke my nose in but I find it amazing that so much venom is placed against other posters. I am fairly new to posting, due to my inexperience and nature of my trading habits, but have been following this one for quite some time. I also hold some shares (for what it's worth). I think anyone who purchases shares in a company based on bulletin board talk alone needs to look at themselves and their own tactics.

I would have thought people on this board and holders of shares should be sticking together, pointing any fingers at the people who actually ran the company into the ground.

craigyboy
01/10/2003
10:33
I like this bit

I have Mark's mobile number so am free to coverse with him as and when I feel fit, this will remain private and confidential though.

cappagh
01/10/2003
10:32
I have Mark's mobile number so am free to coverse with him as and when I feel fit, this will remain private and confidential though. I should point out that the directors have been very busy and have been unable to return phone calls, not simply your own. However if you read the postings from Sreddy and myself you will find all the information you need on the company. You soon learn on the bulletin boards who you can trust and who you can't.

Swiftnick, thanks for your kind comments. I will try and answer your questions to the best of my ability.

(1) Sense-Sonic is highly unlikely to fold, it shares the offices and premises of Galileo. Sense-Sonic does look an excellent company and reversing it into Galileo would be good for all concerned. At present Sense-Sonic looks as though it is capable of continuing as a viable business.

FCS and Astek I should imagine will continue, perhaps they will seek floatation in the future to raise further funds etc.
SDL I am not sure about, it was the one company that required the guidance of Galileo's directors still and was not ready to float.

But the guarenteed overdrafts loaned by Galileo are to be written off. Galileo will not get the loan back, it's gone. Galileo would only have received the loan back if the investee companies could be floated, so money is lost.
But it is no longer of any concern to Galileo if the investee companies continue or not.

(2) Galileo have only given overdrafts of between £250k-500k to the investee companies and therefore I have deducted the overdraft amount from Galileo's stated cash positon of £5.27 million at 31st March 2002.

(3) Yes, Galileo are in the process of settling their liabilites. But we are awaiting results to 30th September 2002, so the remaining cash will be different now.

There are many small cash shells listed that are smaller than Galileo will be, take for example, Anglo Welsh!

But Mark Warburton is doing a good job and it is very unfortunate for him that he was unable to get the investee companies floated. If institutions are going to refuse point blank to invest in floatations there is little that can be done. It is no fault of Galileo's though.

Let's just look to the future and be relieved that a part of our investment is recoverable.

Regards

Mr K

cappagh
01/10/2003
10:30
mrkournikova - 25 Apr'03 - 21:17 - 1805 of 1939

Hi,

Well there is no harm in offering Sreddy an apology, the only harm will be to your pride. But she has called it right!

To sum up...the course of action for Galileo, which is already occuring is:

>Stop supporting the investee companies so Galileo has no business.

>Settle all liabilities

>Go about getting the results published. If Galileo has no business but just cash then there is no longer any doubt as to it's ability to continue as a going concern. Galileo have appointed Ernst & Young to sort this out.

>Publish results and resume trading of the company's shares.

Then it's really a matter of finding a company to reverse into Galileo, I suggested that Sense-Sonic reverse into Galileo. It's an idea!

But if Galileo has £2.5 million cash then this will be equivalent to 2.5p/share but I expect Galileo to trade below net cash.

It just depends on how much of the £5.3 million Galileo have got through in the last year. But it looks like Paul Davidson was tellling the truth when he has repeated that the cash pile of Galileo is intact. When he means intact I presume he means a couple of million. But it looks like Paul Davidson hasn't lied afterall!

I know that Mark Warburton is working extremely hard behind the scenes and with the markets being so dire and trade sales being impossible to realise then the company has had no choice but to take the course of action it is taking.

Galileo won't publish it's results and be unsuspended just overnight, fingers crossed the situation will be resolved by the end of May.

It will be up to you whether you chose to sell or hold in with the belief that Galileo will create shareholder value and find an excellent company to reverse into it. There are options available.

Once bitten twice shy. I presume most of you will take what you can get and run?

Regards

Mr K

cappagh
01/10/2003
10:29
mrkournikova - 25 Apr'03 - 14:47 - 1802 of 1939

Hi,

One thing I forgot to mention that is worth a mention is that the 1.25p approach no longer stands, it's off! Good! When the shares re-list in the near future the cash balance alone will ensure that the shares trade above 1.25p.

Mr K

cappagh
01/10/2003
10:28
mrk
I have copied and pasted some of your posts
just for you to read.
After reading them can you tell us they don't
mean that you claim to have inside info.

mrkournikova - 25 Apr'03 - 14:43 - 1801 of 1939

Hi,

Had a chat with Mark this morning so I do know what's going on. Mark was very open and honest.

Basically Sreddy has everything spot on so there is no need for me to go into detail about my conversation.

Thanks Sreddy and well done!

Regards

Mr K

cappagh
01/10/2003
07:28
does anyone know who the liquidator is?
jubjee
01/10/2003
07:00
While what HP says is somewhat harsh, it is fairly close to the mark, and it's not just an issue with an individual poster.

I first looked at this company some time ago, when it superficially appeared good value, and was similarly put off both by the unbelievable good news stories, and by the very suspicious directors' cross holdings. To merit taking such a risk, would require very significant upside, which just wasn't there with the way in which the loan guarantees were arranged.

Probably the best was to gain experience spotting such situations is to be caught out by some. I have been, and probably will be again.

judgement
30/9/2003
23:36
HugePants you will get "F" all
it will take 2years to sort out
and every last penny will go in fee,s to the profesionals
forget it.

smartypants
30/9/2003
23:35
I guess this means that not only have we lost our hard earned, but we don't even have the satisfaction of finding out where the money went?

HP, I wouldn't rely on .3p!!!

fozdad
30/9/2003
23:22
Anyone else willing to acknowledge their loss publicly? Mine is £9K (assuming nothing coming back) it was high risk money, sad to see it go, but have long since moved on, and incidentally made it back elsewhere, so the loss will be useful for CGT.

I will not say what I think of the Directors – it just makes me too angry.

Regards to all, and better luck in the future. – Mike Edwards

spike_1
30/9/2003
23:21
I reckon shareholders may get about 0.3p per share back. Just guessing but based on the previous RNS which stated Sense-Sonic was the last asset (and they received 400K for that). Knock of some for costs and I think there should be a very small amount left for shareholders.
hugepants
Chat Pages: 129  128  127  126  125  124  123  122  121  120  119  118  Older

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