Galileo Inn. Share Discussion Threads

[hugepants] 22/4/2003 09:59

Yes but why is the company now suspended (no numbers for over 12 months) and have stated they may not be a going concern?

[sreddy] 22/4/2003 09:56

Actually HP, they may possibly have more than £2m cash. I am talking about what might be unencumbered by guarantees.

[hugepants] 22/4/2003 09:34

sreddy's recent comments that GAI have possibly 2M cash (2.3p a share) look absurd. If this was the case the company would be able to produce results without any problem. They would certainly not be suspended. They would also not have released an RNS stating they were considering an offer of 1.25p (why has news on this offer now dried up?). And the fact that the managment have already stated the company may not be a going concern also doesn't seem to have registered. Sorry to harp on but some people on this thread need to get realistic. Theres no point in ramping now because the stock is suspended! IMO the only hope for retrieving value is if they can flog off their investments. However potential buyers are probably scarce because these companies will no doubt require millions of pounds just to keep trading. There are safer ways of making money in todays markets than buying very risky, cash consuming tech stocks. All IMHO, dyor etc.

[cubes101] 22/4/2003 09:24

Sreddy thx for the informative + well reasoned posts.

With 3 % of Gai are you not able to talk with the Board re the future?

You hold aprox 2.5 million shares approx

If it all goes pearshaped will you lose £50k?

I will lose 5k and that pro rata will hurt alot in my small but imperfectly formed portfolio.(the luxury wedding items may have to be cutailed a touch! - foolish - I know etc. etc.)

I too bought on the basis of value - trading at a discount to net cash.

Paul davidson holds 15% - did he buy these or get them free?

Did any other directors actually pay for their shares?

Sreddy please provide a glimmer of hope for the illinformed majority of which I am one.

I have to be confident as the prospect of 0 return would beggar belief.

[sreddy] 22/4/2003 08:36

Sorry JQ,

Can't get excited about 10k. PRM up 1p already this morning. That's £4,450 whilst I was in bed.

[jq699108] 21/4/2003 22:42

How about £10,000 Sreddy . Easy to say you won't get out of bed, how much do you normally make in a day. Even a tiny £2000 makes £ 730,000 a year. How about £10,000 surely even you don't make £3.6m a year. It may be worth your while to take the day off, I'm still on for it!!! Don't look a gift horse in the mouth especially as you were the one who bought these shares LOSER.

[jq699108] 21/4/2003 22:39

How about £10,000 . Easy to say you won't get out of bed, how much do you normally make in a day. Even a tiny £2000 makes £ 730,000 a year. How about £10,000 surely even you don't make £3.6m a year. It may be worth your while to take the day off, I'm still on for it!!! Don't look a gift horse in the mouth especially as you were the one who bought these shares LOSER.

[peea01] 21/4/2003 11:42

I occasionally post here, am in this for a few quid. What troubles me is not what we know but what we don't know about, i.e. what additional support may have been provided to the likes of Sensonic etc. However, that said, it was my decision, and mine alone to invest. Bulletin boards make interesting and often amusing reading but they should not be an unverified source of data in support of investment decisions. Any one pointing fingers at so-called rampers just remember that only one finger points forwards when you do this, the other three back. When I first started this game it took me a while to work out the bulletin board shorthand, especially the DYOR one.
Good luck to all that hold, I hope that something comes of it, anything now would be a nice bonus.

[sreddy] 21/4/2003 10:37

No hard feelings at all MrK,

I just have a go at people who have a go at me. My previous posts show how much I go into my reasoning when suggesting people look at a share, and I have seen your previous similar posts. I too have my Matalan, it is PRM, which his last month has gone up by more than twice my total invesment in GAI (and remember I have 3% of GAI). I am still optimistic we will end up with more than just a little.

I now fully expect a ridiculing post from knitcraft or bigspuds.

[mrkournikova] 20/4/2003 23:35

Bigspuds,

I have probably been one of the more vocal supporters of Galileo on this bulletin board, but do not believe that I have blatently ramped Galileo. I don't do ramping but try to present the facts to others as I see them. I am wrong some of the time but normally I do very well.

There is little to say about Galileo at the moment, I'm just holding and waiting.

What can we ascertain from the latest RNS announcement? It is carefully worded, the directors regret that the business has failed. It has failed because the investee companies have been unable to be floated nor sold via a trade sale.

Galileo is effectively a cash shell that is suspended now! Galileo has told the market that it has stopped supporting its invesments, this will include SDL. Can I put in a bid for the 10% of Sense-Sonic owned by Galileo? Surely this would be a trade sale and Galileo would get something for it, albeit not much.

The wording settle its liabilities is the more blurred part of the statement. Does it mean that Galileo just plans to settle all liabilities and return what there might be to shareholders? Or does it mean that Galileo will remain listed as a Clean cash shell...it will be clean as it will have no liabilities such as Timeload for example, a cash shell with a nasty liability! Clean cash shells are the most attractive for a reverse takeover.

A further announcement will be made in due course. This will reveal all! But there is little to do but wait at the moment. I'm optimistic.

And I would like to thank Sreddy for her informative posts. I know we have not always seen eye to eye but I for one do not carry grudges and hope that we can put aside any differences that we may have had. Thanks!

I've been doing very well in Matalan lately. Worth a look, I believe there to be further upside.

Regards

MrK

[swiftnick] 19/4/2003 23:04

I'd vote for Sreddy.

I don't know Wilmslow, but doesn't sound all that plush...?

[hugepants] 19/4/2003 21:41

swiftnick, Go for it.
And since the last RNS specifically mentions liabilities (the suspension statement mentions the company is very possibly not a going concern which implies cash has just about run out) does anyone know what kind of premises GAI are working from? Its quite possible they have taken out a a 3-5 year lease on offices (no doubt plush ones given the managements reputation) that they now cant honour.

[swiftnick] 19/4/2003 18:43

There is one possible course of action that shareholders could take. We could force the company to hold an Annual General Meeting.

Galileo was incorporated on 14 September 2001 as company number 04287996 (its original name was Facilities Corporate Management PLC). Under the Companies Act 1985, the company is required to hold its first AGM within 18 months of incorporation, i.e. in this case by 14 March 2003. As far as I know, it has not done so and is therefore in breach of company law.

Anyone fancy standing as a director?

[knopfler] 19/4/2003 14:13

well shreddy, you certainly put a lot of thought into that post, but i'm afraid i cannot bring myself to agree with you.

most of your points are based on old information, (as are mine - as we have no new infomation to digest)

we're just arguing different sides of the same coin, you're optimistic, i'm pesimistic, we'll just have to disagree on the outcome untill it's resolved one way or the other.

fyi, (albeit your comment were not directed solely at me) i fully understand the risk reward equation, that is why i bought these shares and why i held on to them. as for using fraud as an excuse to divert blame from oneself for making a bad investment decision, i never use it as an excuse (i stand by all my decisions, right or wrong - after all they will only ever effect me) but that doesn't mean that fraud is not the cause.

fwiw, imho it is very bad management/incompetent management that is the cause of gai's downfall.

edit: it is greed and the scramble to cover their mistakes that will ensure the shareholders recieve nothing.

[army9] 19/4/2003 12:25

4 millin / 88 shareholders (expenses + cost assoc failed float 1 million) = appprox 1,5 - 2 p per share via warrants overco's to be floated in future - i.e IPO's - yes Gall may survive as a shell if the get the acciuntsout.

The Directors MUST know a gaff like this to recover 0 would and will end their carreers.

I am a lawyer with some influence both in city + will ensure no return = revenge through the old boys network.

[sreddy] 19/4/2003 10:25

HP,

Yet again you pick one statement out of hundreds in a completely unbalanced manner.

Yet again you come up with an unsupported comment that I 'don't respect any views other than' my own.

You are a classic, even if you don't see it yourself.

Ps. Your last two main sentences just show how shallow your ability to analyse is. I won't bother to spell out why. It has all been said before.

[hugepants] 19/4/2003 10:15

Maybe you are forthright in your views but you dont respect any views other than your own. Your reply to my negative postings was "how would you like people to post negatively on one of your threads". What kind of an attitude is that?

And there was an RNS announcing an imminent series of investments at between 0.5M and 1M back in July (I think).

Id say Knopfler has called it correct. There was nothing in the last RNS to suggest shareholders will get a bean. In fact there has been nothing for ages to suggest shareholders will get a bean. A definite HOLD now.

Pants.

[knopfler] 18/4/2003 17:28

i'll have no problem in offering you a sincere apology if we get something back. so we'll wait and see.

however, please do not put words in my mouth, i said they would have to pay the banks, i didn't say they had any borrowings.

do you really think the banks will come away with nothing?

[sreddy] 17/4/2003 23:11

knitcraft,

You really have a big chip on your shoulder. Shame you didn't make money recently on ASM, LID, IGA, TIG, THC, ISYS, PRM etc. But then you do seem to spend all your time jealously critiscising and complaining about others. No rational, well reasoned argument whatsoever. I don't just call you a prat, you ARE a prat.