Geong Share Discussion Threads

[rivaldo] 09/10/2013 14:28

1.1m shares traded so far today - almost 3% of the shares in issue.

[sir rational] 09/10/2013 14:26

Yep and it's a share they don't like holding come 4.15pm, always possible to pick some up at the death.

[chrisis33] 09/10/2013 14:22

Nice ... have a few of these.

[sir rational] 09/10/2013 14:22

Anybody else stuck a few quid into Royal Mail? Could be some fun & games come Friday I reckon ;-)

Got the hallmarks of a bit of a googly share, bouncing too high, then too low, then settling.

[augustusgloop] 09/10/2013 14:05

I was ELBAN at the time.

[sefton1] 09/10/2013 13:08

More rear end noise from augustdope. Where is the proof he said sell at 38p

[fillipe] 09/10/2013 12:17

the history man!

[augustusgloop] 09/10/2013 12:11

They would have to rise by a factor of 6 from here (38p) to recover to where I said sell.

[sefton1] 09/10/2013 11:39

i'm now up 95% while trolls like stegrigo and augustdope talk out of their rear ends

[fillipe] 09/10/2013 10:25

I'm quite happy to be holding GNG from low for a steady recovery and eventual futher gains.

I'd have a different feel about it if I was still holding onto those 2009 shares at 49p which were binned at huge loss in 2011. But that gave a clean slate to start again and be well on the way recovering the loss, and more.

Much better to bite the bullet and start afresh than gripe all the while about past mishaps.

f

[rivaldo] 09/10/2013 08:50

A little buying having a dramatic effect here.

[davidosh] 08/10/2013 08:57

If the debtor book is worth what it says in the accounts then you would think that directors owning 26% and seriously losing a lot of face and money would want to put the rest of us out of our misery and take the company of the market at a decent price ?

As far as I am concerned they can then go off doing whatever 'ten' year debt payment plan deals that they like just do not show your faces ever again with the worlds worst business plan and expect the UK investors to fund it !

[rivaldo] 08/10/2013 08:39

Yet more decent buying here - worth remembering that the m/cap is still barely £2m.

Corrientes, the directors own roughly around 30% of the company from memory.

Edit - just checked, it's 9.8m shares, or around 26%.

[augustusgloop] 07/10/2013 19:40

The simplest way to tell that it stinks is:

Money owed (inc accruals) = ££22.1m
Turnover = £9.6m

So even in the very unlikely event that this was all paid the day after the accounts, the average time taken from charging the work (not even the date of doing it) to payment would be 840 days.

This is rising all the time.

In truth, the average is probably over 3 years.

What real business does work and only expects to be paid 3 years later?????

And a good fraction of their business is now quick payment -- that means that the slower payers -- must take on average about 5 years to pay??

Now in what universe is a small company giving their rich large customers 5 years free credit, at all believable?

[augustusgloop] 07/10/2013 19:32

I cant remember where it was now - maybe 2010.
They quoted a figure in their accounts one year for total amount that was in arrears.
The next year they quoted an amount for the total amount that was more than 1 year in arrears.
The second number was higher than the first.

This was only possible if nobody at all had paid anything of their arrears and GNG actually gave someone a payment back.

there were many posts on here about it at the time.

[corrientes] 07/10/2013 19:26

So their auditors, Hacker Young, who are 11th biggest when it comes to the number of UK stockmarket clients, are either too stupid or crooked to spot what you suggest are very simple errors ? I don't think so.

I agree that they have been very vague in their very loose interpretation of trade debtors and accrued income,but surely Hacker Young would not have put their name to such chicanery.I would, however,like to know where in the accounts, the segmental breakdown doesn't tie up with the total revenue.

I think they were rumbled in their accounting technique at one point, but that isn't ultimately crookedness if cash hasn't leaked its way into someone's pocket.Their present predicament suggests that they need to be squeaky clean now.

Do the company directors have a significant stake in the company ?

[augustusgloop] 07/10/2013 16:56

Actually,

it was already shown to be another crooked chinese company -- only the suckers remained behind.

There was even a year when their accounts more than a year overdue were greater than the total overdue the previous year. Obviously totally impossible.

Then their statements about their business breakdown (in the same year) had their two sectors combining to 125% of the Company turnover.

Then they borrowed money at 'penalty rates' despite saying that they had a large cash balance in the bank.

Then there was all the statements that (effectively money owed) was increasing because the business was growing. It continued increasing as business shrank.

The list goes on and on.
The only people that invest here now are the ones that don't bother doing proper research.

[corrientes] 07/10/2013 16:06

Well, after all this time if its not been found to be yet another crooked Chinese company, then you can say with some confidence that today's share price is going to look totally nonsensical in a year or so. Having said that,there are presently lots of ridiculously undervalued AIM shares primarily due to funding/dilution concerns. Prima facie,this doesn't seem to apply to GNG anyway.

[rivaldo] 07/10/2013 08:18

Nice start. Tipped somewhere given the small flurry of buying?

[davidosh] 03/10/2013 23:21

I was aware of them in the past too. The Agm has taken place so I assume nobody received a notification so I will try to set something up separately.