Geong Share Discussion Threads

[restassured] 25/4/2012 09:33

Going going Geong.

[masurenguy] 25/4/2012 09:30

longsight – 20 Apr'12 – 20229: Still waiting for masurenguy to appear here & explain himself.

longsight - 24 Apr'12 - 20312: Now that it has all gone a bit wrong masurenguy is nowhere to be seen.

Well here I am. I haven't had any interaction with longsight for around 18 months yet he seems to be obsessed with me. He has suddenly appeared on this thread and addressed me in half a dozen different posts over the past few days – (#20211, 20229, 20307, 20310, 20312 & 20315.)

Longsight claims that I should 'explain' myself ? Exactly to whom and why ? I am only accountable to myself in relation to my investment decisions and that equally applies to everyone else !

I have never publicly exhorted anyone to buy this or any other share or forecasted any future share price or made any claim about the company which could not be verified by published material. In that context my posts have almost all been factual in content. If somebody doubts the integrity of any published material then that is another issue altogether. How anyone chooses to interpret those facts is based entirely on their own judgement and anyone buying, holding or selling a share must make their own decisions.

I have certainly challenged some posters on this thread, especially where they have misrepresented information or made claims that they could not substantiate. However there is never any certainty about any investment and there is no such thing as a 'no brainer' either nor have I ever asserted that there was.

I have been bullish on the prospects for this stock for a long time. A sequence of events over the past 9 months have certainly seriously damaged credibility here and the company faces challenges in relation to the size of their receivables and over the current profit warning. Whether the Q4 sales shortfall is just a short term blip or indicative of some longer term issues still remains to be seen.

I totally disagree with Elbans view that this is a scam but of course he is entitled to his opinion. I certainly agree with him that there is absolutely no basis of comparison whatsoever with RCG. The two companies are in completely different business sectors. There is no legal issue over share ownership as there was at RCG. The two principle directors of Geong have not sold any shares since the company listed, unlike RCG. Directors salaries are modest unlike RCG. The CEO has not appropriated titles such as Sir or Dr unlike RCG. Geong have not made any 'nameplate' acquisitions like RCG. I could go on but won't bore people further but that is why I sold out of RCG a long time ago and still hold here.

Clearly many shareholders have sold but others continue to hold. Meantime the uncertainty will inevitably keep the share price under pressure. At this stage nobody knows the extent of the Q4 sales shortfall or the impact that it will have on the y/e profits or receivables. The company remains profitable, has no debt and also has cash in the bank. They concluded their profit warning statement with the following statement

"Notwithstanding the reduced profitability the Board remains confident of GEONG's business model and its potential. The Company is still getting new IaaS clients in its core markets and new industries with two strategic partners, and has not lost any IaaS clients during the quarter and its business partner has not moved any business to the Company's competitors. Indeed, the SaaS business gained 2 new SaaS clients during the final quarter of the financial year, a total of 16 SaaS clients during the year and is in current negotiations with another 5 potential new SaaS clients."

Many others have already made their own judgement call on that, to either sell or hold, and that is their prerogative. I've not given anyone advice on what to do previously and I'm not going to do that now. However, I think that shaware has provided a balanced summary in his prior posts #20276 & 20297.

[mcgrath00] 25/4/2012 08:24

from a post above:

"many of the frequent & respected posters have built up networks off-board and quite a few have decided that it's not worth the trouble"

Just as well as they're certainly not fit for publication. The main reason though will be that of 'damaged egos', none other.

[sir rational] 25/4/2012 08:02

Yes I do expect it to fall further first as so illiquid and once a few big holders decide to cut position they are generally uncompromising.

[the news girl] 25/4/2012 06:23

well 75k sell at close moved it down could be carnage here

[greek islander] 24/4/2012 22:53

SR
Don't fall into the trap of saying it's not worth selling at 9p (as it is now). OK, maybe I'm wrong and some company might just pick up the debris for say 15p or failing that wait to get it for less than that. However, to hang around on the off chance could mean the same as with RCG and getting 1-2p eventually.
It has taken me long enough to realise that. Other than this aforementioned unlikely scenario of a takeover, this share is doomed. They will never recover, unless the management is completely changed, as the current management will never have any credibility with the market, no matter what they say to us now.
The sense of relief I feel now that I have sold out and started to reinvest is amazing. I invested £10k of my GNG money in ABC this morning and it gained a lot while GNG dropped back further. ETO one of my two other investments also gained whilst NBL stayed where it was. Suddenly, a great weight has been taken off my shoulders. I just wish I'd seen the light a lot earlier. Interesting to read Elban, McGarth, longsight and others commenting above. Wish I'd listened to them sooner. Still, we live and learn even at my age...........

[roofer2] 24/4/2012 22:50

SR, agree but sold down while there's still a buyer to take
most of them, I'm not putting a brave face on, just what I have
left makes little difference and just maybe the buyer knows something
Good Luck

R2

[sir rational] 24/4/2012 22:30

Pointless selling under 15p IMV since you could do that next month.

[sir rational] 24/4/2012 22:28

Big accumulations going on, Roofer.

[roofer2] 24/4/2012 22:26

I've sold most of my holding at a massive loss and was surprised
I could do so in one trade, where as before the last RNS, could
only sell a few K
Someone must be buying a large holding but who and why?
with the amount of trades over last few days an RNS could be
due to at least say who,

R2

[longsight] 24/4/2012 20:24

Elban - the difference is that you freely admit it when you get it wrong. I think it is hopeless to treat genuine negative insights with hostility. I did that to you on RCG - more fool me. There was far too much ego & irrationality on here. I think that if you can not subject yourself to fearless criticm then you can't learn & the least masurenguy can do is hold his hand up. All his analysis & hostility to the "muppets" simply obscured what was glaringly obvious - that this was a tiny business that failed to grow despite 2 changes in strategy [including the failure to sell the off the shelf licences] & was hopeless in generating cash. When the pressure was on, I think they mislead shareholders. There are good businesses out there - why waste time & money on a non performer. I bailed out 3 years ago at a big loss & the problems I saw then have never been resolved - & I assure you, I'm hardly Einstein

[mcgrath00] 24/4/2012 19:17

Sorry Woody, cannot agree with your statement:

"The quality of research done on this stock has been very detailed and very useful."

It has in fact been a complete waste of everybody's time and of no use to anyone unless their target was to lose money. The best analysis was that ignored or scorned by some investors here who have now lost and currently disappeared from the face of the earth.

[longsight] 24/4/2012 16:44

China Integrated Energy - that cd be a good tip for masurenguy to invest in

[zho] 24/4/2012 16:23

Telegraph article on Anthony Bolton's experience of investing in China:



One such stock was China Integrated Energy, which produced ethanol. Bolton, having been impressed with the company after a meeting, bought some shares.

"They told a good story," he says.

But, soon after, a research house went to one of the company's plants and stuck a camera outside.

"It found nothing was going on," says Bolton. "But the next day, when an investor tour turned up, everything ramped up and started working again. A day later everything stopped again."

[mcgrath00] 24/4/2012 16:03

Any Chinese small company investment is questionable for many reasons - and especially if listed on AIM.

[sir rational] 24/4/2012 15:56

Kru - you still there? Did EVO issue any kind of note following the GNG TU? TIA

[e-mail]

[mcgrath00] 24/4/2012 15:40

Better late than never GI - you did well to get out before they hit 2p.

The signs were all there though, some of us saw years ago this company couldn't even handle their website or PR, let alone a commendable operation.

The monkeys here were arguing they knew better!

Truth always outs in the 'end' - that's the wonderful thing about life.

[greek islander] 24/4/2012 15:14

I reproduce my posting on the JTCod blog:

JT

"After being in GNG since IPO and loyally arguing the case I think I am right in saying that the recent RNS has really pulled the rug out from under my feet. The financial loss in selling out has been substantial and even now I question my decision - alongside respected others who are hanging on in there.
My logic is that it is really great to be clear of this stock that has bought me so much anguish. I can now invest the proceeds (what is left) in other stocks that have been making me money of late, particularly NBL and ABC and a little bit in ETO.
I really sympathise with you as you have argued - as I have - strongly for this stock for so long.
I am certain now that the signs have been there for a long time only I and others refused to see them. The CEO is a total shambles and the whole story is still opaque and questionable. I feel like a lover who has been split from an unfaithful partner. I now almost hate the Board for their deceit.
One of the problems I have always found in the Third World is that it is endemic to always answer with what is wanted to be heard. A childlike desire to please, no matter what.
The behavious at GNG is beyond acceptability and if AIM had any teeth they would surely investigate it. First RCG now this. I got out of RCG just in time but this debacle has cost me dearly and I blame myself for being so naive."