Amd Commo Exagr Discussion Threads

[loverat] 13/9/2010 19:36

'My Way'
'Cougar6'
'Tennis Elbow'
'A0456717'

Don't mind at all which alias you use but folks here want an explanation. You can wheel out Holmes or even Anomalous to host your website announcing your failures but investors here want closure on this.

Please address your shareholders.

You can start with an apology. And then you can explain your actions.

[loverat] 07/9/2010 19:27

Today I asked for this thread to be updated. As folks will note the last update was via a website created by Nigel Smith (the Corporate Cruscader) for James Holmes to send his message.

Please update shareholders as soon as possible.

We have been asking for months now. If I do not hear soon I may be tempted to contact the Corporate Cruscader myself and ask him to look into this.

I am sure he will be delighted.

[loverat] 04/9/2010 08:13

No wonder the AIM market has such a bad reputation when you consider events surrounding all of these companies. Seems by all accounts that certain directors have been playing pass the parcel with the assets and cash for years.

[loverat] 04/9/2010 07:49

So what happened then?

It seems COMG still has a large shareholding in this company as it appears the transaction to sell the stake did not go ahead.

And what of CEG?

Allnutt appears to be a director of Dalian so should at least be in a position to provide an explanation.

[loverat] 04/9/2010 07:45

And as egoi points out 9 months later it announces this:

"The Company's shares will
remain suspended from trading on PLUS, and we do not anticipate a lifting of
the suspension in the near future as the Company does not currently have the
resources to be able to meet all the costs involved in maintaining the listing".........

[loverat] 04/9/2010 07:42

30 May 2008

Dalian Business Institute Limited
("DBI" or "the Company")

Interim results for the six months ended 31 January 2008
Chairman's Statement

I am pleased to announce a strong set of interim results for the six months
ended 31 January 2008.

Highlights include:

* Revenue of GBP1.4 million
* Profit after tax of GBP553,000

Financial and operating overview

DBI, incorporated in Jersey, is the holding company of Huaxia Yongtuo
Educational Technology (Beijing) Co. Ltd ("HYE"), a management company based in
China. The Group derives its income through a management contract to run Dalian
Business Institute, a private college based in the city of Dalian in Liaoning
Province, China ("the college"). Under the contract, DBI is entitled to 90% of
the income derived from the running of the college, including both student fee
income and the provision of related services such as accommodation and food.

Revenue for the six months ended 31 January 2008 was GBP1.4 million with profit
after tax amounting to GBP553,000. The average tuition fee and accommodation
fee are GBP486 and GBP80 per student respectively.

Outlook

The Chinese government has attached great importance to the development of
education, making it a national policy to pursue prosperity of the country .
Significant growth was seen in terms of the number of higher-education colleges
and universities in China. This creates a further opportunities for DBI. The
Board remains positive as the future prospects of the Company and is
considering a number of alternatives to increase the student intake of the
college.

Wenchao Zhang
Chairman
30 May 2008

Dalian Business Institute Limited
Consolidated Income Statement For the Period 1 August 2007 to 31 January 2008


GBP 000's

Revenue 1,426

Cost of sales (429)

Gross profit 997

Administrative expenses (446)

Operating profit 551

Bank interest received 2

Profit before tax 553

Tax on ordinary activities -

Profit for the period 553

Earnings per share (pence)

Basic and diluted 0.56


Dalian Business Institute Limited
Consolidated Balance Sheet at 31 January 2008

GBP 000's

Non-current assets

Investment in subsidiary 9,624

Tangible assets 4

9,628

Current assets

Trade and other receivables 3,226

Cash and cash equivalents 665

3,891

Total assets 13,519

Current liabilities

Trade and other payables (114)

Net assets 13,404

Equity

Share capital 6,521

Share premium account 4,995

Other reserves (33 )

Retained earnings/(loss) 1,921

Total equity 13,404

Dalian Business Institute Limited
Consolidated Cash Flow Statement For the Period 1 August 2007 to 31 January 2008


GBP 000's

CASH FLOWS FROM OPERATING ACTIVITIES

Profit from operations 553

Adjustment for:

Interest received 2

Depreciation 1

Foreign exchange adjustment 8

Decrease in trade and other payables (10)

Net cash from operating activities 554

CASH FLOWS FROM INVESTING ACTIVITIES -

Net cash used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES -

Issue of shares

NET INCREASE IN CASH AND CASH EQUIVALENTS 554

Beginning cash 111

Ending cash 665


Notes to the financial statements

1. Basis of preparation

The results of the Company for the six months ended 31 January 200 8 have been
prepared in accordance with International Financial Reporting Standards.

The financial statements contained in this report do not constitute statutory
accounts.

2. Earnings per share

The calculation of basic earnings per share is based on profit after tax of GBP
552, 773 and on 98,070,588 ordinary shares being the weighted average number of
ordinary shares in issue during the period.

3. Dividend

The directors do not recommend the payment of a dividend.

4. Taxation

The Company is an Exempt company for taxation purpose under which the company's
liability to Jersey taxation is limited to GBP600 per annum.

The Group's operating subsidiary in China is subject to an income exemption for
the first two years, followed by three years at a rate of 7.5% subject to the
approval of the tax authorities. An additional three years reduction, starting
from the expiration of the three years reduction period of 7.5% is available if
the operating subsidiary qualifies for further exemptions.

The Directors of Dalian Business Institute Limited accept responsibility for
this announcement.

For further information please contact:

Carol Chen
London Asia Group
Tel: [phone]



Total assets 13,519,000 - Cash and cash equivalents 665,000

[loverat] 04/9/2010 07:20

And more on CEG China Education Group and Dalian (DBI)

Not discussed a great deal here but quite important I believe.........

egoi - 29 Oct'09 - 11:49 - 9008 of 9213


Doug good set of questions indeed imho.

Certainly I agree that the Brett Miller 'faction' (if I can call them that) might find before long that they need to answer questions about their time working with Mr Littlewood, but then the same question I think might be asked of Mr Allnutt.

Indeed what was the 1p thing all about?

I'd like to see more information on Kaidi. Ironic perhaps that Mr Littlewood appears to have been a prime mover in the original LDC tie-ups with Kaidi?



Equally I'd love to see more detail about some of the 'missing' companies (China Education, Dalian et al).

Mr Allnutt ought to be able to tell us for example ALL about Dalian as the letter to shareholders states that he is:

'.....currently chairman of Photo Distribution Limited, a UK logistics business, Managing Director of Penhale Estates Limited, a non-executive director of Commodity Growth Plc, non-executive director of Dalian Business Institute....'

The very same Dalian that, to reprise went from:

this company's interims to January 2008 (the most recently available numbers) showed revenues of 1.4 million and a profit of 553k. Net assets stood at over 13 million and cash and equivalents increased from 111k to 665k, while the then current liabilities amounted to a relatively tiny imho 114k.

TO:

Dalian Business Institute (Plus:DBIO) shares were suspended due to late results on the 2nd of February and the next day the company said it intended to delist.

Since then Plus has received an objection to the delisting and the company has aborted its plan, however they say:
'.......The Company's shares will
remain suspended from trading on PLUS, and we do not anticipate a lifting of
the suspension in the near future as the Company does not currently have the
resources to be able to meet all the costs involved in maintaining the listing.........'



...................And subsequently delisted.

That is why personally until I hear an explanation regarding this remarkable - imho - turn of events, I am personally as unimpressed about the bid from the current board as I am about the offer from the 'rival faction'.

Finally, I note this:



If the link doesn't take you to the exact page as sometimes I find the FSA ones don't it confirms that Simon Littlewood is currently FSA listed as 'active'.

[loverat] 04/9/2010 06:59

For those who wish to understand this a little more here is quite a good thread where alot of research has been done on LDC/COMG/and all the other
companies which have been mentioned. Some useful links, although some do not work.

Have a read - quite entertaining and informative in parts.

[loverat] 04/9/2010 06:56

29 June 2007 - a few months before COMG (EPE) was suspended........

Anyone know what happened to this offer for COMG's stakes in CEG and DBI?

Was this another aborted transaction?

"We have received an offer from AiM listed London Asia Capital plc and its
associates ("LDC") to acquire up to #1.5 million worth of CEG shares and our
entire holding of DBI shares. The valuation of our holdings for the purpose of
the transaction is based on the average closing mid market price of the previous five trading days as quoted by PLUS at the time of the transaction, less 30%.

Based on current share price and assuming the full acquisition, this would
equate to sales proceeds of #2.8 million against a book cost for the investments sold of #2.1 million, generating a profit for EPE on the deal of #0.7 million.

LDC will pay for its stake via the cancellation of #452,399 of EPE 10%
Convertible Loan Notes and via LDC ordinary shares at a valuation per share
equal to the average closing mid market price of the previous five trading days
as quoted on AiM. The transaction will result in a significant reduction in
liabilities for the Group, a saving of #45,240 in interest costs per annum, a
profit in the accounts on the sale of the investments and the holding of more
liquid LDC AiM stock rather than CEG and DBI's relatively illiquid PLUS stock
which can be sold to generate funds for the new investment strategy. Given the
relative illiquidity of PLUS listed stock, we have been unable to realise our
holdings in DBI and CEG to date and do not anticipate that situation changing in the near future. I therefore as independent director, recommend this
transaction. As Simon Littlewood and George Allnutt are interested in the share
capital of LDC, the proposed disposals constitute substantial property
transactions under section 320 of the Companies Act 1985, and, accordingly, are
conditional on the approval of shareholders at the AGM"

[loverat] 04/9/2010 06:32

I hear of further goings on behind the scenes concerning at least one person connected with this company.

Gents - it is time for an update please.

[loverat] 29/8/2010 11:07

A new thread for new times. Hope you all like the new look and the bird at the top. I nicked it off 'Raven' - hopefully I won't get done for copyright etc.

As they say copying someone else is the sincerest form of flattery.

[loverat] 29/8/2010 10:52

The long running saga continues to a new thread and shareholders continue to ask what happened to this company. Where is the update we were expecting?



Link to last thread........





Sorry - Raven. Nicked your bird if that's O.K as I like it........

JUSTICE IS NOT JUST REQUIRED,
IT MUST BE SEEN TO BE DONE

[loverat] 28/7/2010 17:45

I think this is the best UTube clip of all time. Funny, entertaining and great music too.

Enjoy:

[loverat] 27/7/2010 21:30

Interesting the same person had the time to knock up the above website.

Confirmation to COMG investors that they are likely to receive sweet FA.




Those comments by James Holmes and George Allnutt(directors who purchased the assets) is like a red flag to a raging bull.

I wonder whether it might not have been a more constructive use of time to assist Keith Negal to apprehend the offenders.

[loverat] 27/7/2010 21:11

Just come across another website mentioning Spiezia Organics.

Looks like some of the references to Spiezia (unless the information is current) should be redacted.

[loverat] 27/7/2010 21:03

Cougar6

I know you are no longer a director of 'Spiezia Organics'. And I know the 'independent' directors may have persuaded you to buy the education assets
for a song to divert the generous 70K into rare commodities and the change of strategy.

But could you not have at least tried to persuade Littlewood and the others to invest in this venture?

[call-logger] 24/7/2010 09:18

"Having the case against him dropped" is not the same as "being cleared of any wrongdoing" imhlo