Geong Share Discussion Threads

[longsight] 23/7/2012 18:37

Shame that JTCod has in effect retired - he still had a big position here the last time he posted on this. I wd be keen to hear his views since he knows the BOD & is of course a pretty shrewd dude

[stegrego] 23/7/2012 16:42

I see Amit Thakar has decided to take time off to finally study for his GCSE Maths.

Replaced with China Eastsea !!!! CFO.

Comedy Gold.

Company worth zip, zero, nada, zilch, nowt.

[stegrego] 23/7/2012 16:41

I see Amit Thakar has decided to take time off to finally study for his GCSE Maths.

Replaced with China Eastsea !!!! CFO.

Comedy Gold.

Company worth zip, zero, nada, zilch, nowt.

[kaos3] 23/7/2012 15:25

I wonder if they changed criteria when determining accured as they increased so they lower non performing/bad debt

[hippo] 23/7/2012 15:00

If it was not for exhange rates they would have posted a loss. Now revenue is down 4m, so 5m cash is not going to lost long.

Also no bad debt provision, but revenue outstanding for up to 3 years.......

[blippy2] 23/7/2012 14:52

Hey ho. I hope there's a hot hell waiting for all the rampers out there.

As for me:
blippy2 - 15 Jun 2012 - 13:26:41 - 20544 of 20740
"Just get out the position and buy something worth buying. I topped up on Judges Scientific today, for example."

I'm not flawless in my stock picks by any stretch of the imagination, and I've picked my fair share of dogs, but by crikey, anyone following my suggestion would be well ahead of the All-Share, certainly way ahead of GNG. I'm not saying that JDG is such a good pick at this point now, though.

GNG: completely uninvestable garbage. It's never too late to get out of this POS company. There will undoubtedly be a dead cat bounce somewhere along the line, but I just don't see any viable future for this company.

[geheimnis2] 23/7/2012 14:39

erm..ranger wet dream..this obviously wasnt the right share to go long on and try to ramp

[jwe] 23/7/2012 14:37

If the cash was there somebody would be buying,therefore it isn`t

[simon templar qc] 23/7/2012 14:30

Goin going geoooooooooooooooooooooooong!

[simon templar qc] 23/7/2012 14:24

This soon collapsed and still no director buys. Says it all!

[empirestate] 23/7/2012 14:22

with L2 at 1/3 it ain't looking too good at the mosey

[lovaine] 23/7/2012 14:22

"10 geong bottles",now down to five pence.What a desperate outfit.

[longsight] 23/7/2012 14:14

"David Kar Ning Tsui has significant experience in the financial management of
public companies based in Asia including Finance Director positions with Asia
Ceramics Holdings Plc and China Eastsea Business Software Limited"

Bit scary - China Eastsea Business Software Limited had even worst cashflow than GNG worsened by a ludicrous acquisition - & then they delisted.

The profits in the Results are swollen by the forex gain - without that they wd be almost zero. Practically none of the debts are written off. Suspicious.

This is a pointless business. Too small & shrinking. No cash flow to speak off. Minimal profits - probably losses if debts were written down etc etc

At least the CFO is now Chinese & will be able to "understand" the accounts.

[fft] 23/7/2012 14:01

obviously rwd has never heard of RCG.

[simon templar qc] 23/7/2012 13:55

I have to agree with you ELBAN if it was registered in the UK and cash was over here it would have given more confidence.

Also one would have expected director buys on results if the were confident on business model.

Too risky!

[elban] 23/7/2012 13:44

If the cash was in a foreign bank - then no doubt the share price would rise.
But it is in a Chinese bank - and they have a history of falsely verifying account balances to auditors.
Hence, people (like me) simply do not trust the cash figure.

The accounts are bad - but as usual for GNG, it will take some digging to see if things actually add up.

SaaS was supposed to be the saviour - but clearly it isn't.

The debtors days at 711 is truly awful.
This just gets worse and worse.

Bear in mind that they continually blame the economy "difficult trading conditions". But growth is still supposedly 7.5% in China -- what will happen to GNG if there is an actual recession, or even just a slowing?