Geong Share Discussion Threads

[rivaldo] 08/11/2013 09:03

Buying at 10p now.

EDIT - followed by a 30k sell :o))

[rivaldo] 07/11/2013 15:54

Someone just bought 25k at 9.625p when the offer price was 9.25p and single-handledly lifted the price 0.37p. Nicely done :o))

[corrientes] 07/11/2013 11:06

Cash and receivables (actually accrued sales) don't exist ?

Well if that's so, then after all this time to keep the 'truth' away from myriads of interested parties, says these guys must be geniuses.

[smithie6] 07/11/2013 10:51

augustus
I dont like the same things in the accounts as you
accrued revenue.....means very little imo...in the stroke of a pen the co. can say that it wont be paid for some reason....or reduced in size or delayed in payment date or....

perhaps a big upside if the +ve pts. are all delivered....or a big downside if they are not.....
too many unknowns for me....
but then I thought that at 3p and 10p now !...and at Globo at 30p and double that now !
everyone has to decide how much risk they want
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good luck to holders.....if the accrued money gets paid you should be laughing...

[gelp] 07/11/2013 10:20

Still holding Riv.

[rivaldo] 07/11/2013 08:18

Nice start again. If this rise continues until the trading update, and then the trading update is positive, things could get rather interesting.

Remember that the current m/cap is still just £3.5m, with a limited free float.

[augustusgloop] 06/11/2013 23:18

Smithie,

the majority of people (including me), think that neither the receivables nor the cash actually exist.

And look at the amount owed on the loan.
The interest rate is nearly as bad as WONGA.

rivaldo can go on about chinese rates being low.

But that does beggar the question of why this Chinese company decided to get hugely expensive funding abroad.

Would the Chinese not lend to them.

Strange these Chinese banks -- apparently they do not lend to a chinese company and do not pay their bills for 5 years.

[sir rational] 06/11/2013 20:13

It's not just the cash it's the £20m of receivables old son.

Work out £20m + £4m cash / shares in issue.

Clue: 50p+

Chinese man he play long game.

[smithie6] 06/11/2013 19:41

btw
I did read the accounts at Globo...when the price was around 30p....

I flagged that sales were not being paid for.....and that the sale of Greek co. hadnt been paid for and that a bucket load of costs were not counted as costs, but were capitalised

X months later the market suddenly voiced the same things...and share price went from 80p to 50p

(if 1 person can grind through accounts and post their notes....then imo it saves every single other soul having to do the same chore.....and we can all benefit by sharing views ...and saving time)

[smithie6] 06/11/2013 19:34

moi ?! je je

if its an obvious question then its easier to just throw it in.....but I see your pt. and will avoid a flood of questions....
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often the gut feeling and key pts. ....or supporting information ...can be more important imo than every small detail in the accounts....

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Question stays the same
why does a co. with 4M of cash have a conv. loan and paying 400k financial costs for it ?

(if interest rate is very low in China, then they have a big loan !!??)

noting that that 4M of cash seems to be the main attraction pt. of the shares at this price...or one of them

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btw is Mr Stredder still holding over 3%
...RNS from May lists than Spreadex, that place his positons, went under 3%
but I'm not sure if that includes Mr Stredders position or is just Spreadex total from other clients

[rivaldo] 06/11/2013 15:08

Smithie, read the Annual Report in full. It's easily available here:

hxxp://www.geong.com/Info/838456

If you do, you'll see that the interest is all interest on the convertible bond/loan (incidentally, interest receivable in China is apparently negligible due to incredibly low rates).

Please get up to speed first before flooding the bb with posts and questions as I know you sometimes do :o))

[smithie6] 06/11/2013 14:41

hmmmmm

anyone that bt. at 3p must be happy , 10p now

but
looking at the results
profit report was breakeven if ignore currency gain on assets

and paid 400k finance costs

but they claim to have 4M cash...

what is a co. with 4M cash doing paying out 400k in finance costs ??!
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last 3% notice I can see shows that SPreadex holding went below 3% in May
does that mean that Mr Streddings holding has gone below 3%, ie. that he doesnt hold over 3% now ?

[h2owater] 06/11/2013 13:16

Next RNS will not be a speeding ticket, but a TU + new contracts!

[corrientes] 06/11/2013 13:12

With such a lengthy bad track record,and a very unusual method of accounting for work done, most people no longer believe anything this company says,and who can blame them.

It seems,however,that after all this time the company has not gone down the tubes, so the sales accruals are highly unlikely to be substantially fictitious,if at all. As GNG is now prioritising collections of receivables,and is moving to higher margin work,then the present share price would seem to be ludicrously low.

[someuwin] 06/11/2013 12:32

Looking very strong today.

[eric76] 06/11/2013 10:41

Tnx rivaldo, appreciated.Good break out of the channel this a.m wouldn't be too surprised to see the 10p level tested before the update now as it seems theres an appetite for the shares pre announcement. Current price seems to assume bankruptcy though imo.

[someuwin] 06/11/2013 10:31

From the AGM statement...

"We see significant opportunities for H2 and hope to announce further contracts with our next trading update."

[muddystone] 06/11/2013 10:25

And some nice little buys coming in today. Trading update imminent perhaps? With good news?

[muddystone] 06/11/2013 10:23

Thanks for that. I now understand....I think

[rivaldo] 06/11/2013 10:13

Muddystone, a quick Google would give you the answer - for example:

[muddystone] 06/11/2013 10:08

You'll have to excuse my ignorance but what does iaas and saas mean?!

[rivaldo] 06/11/2013 09:32

Eric76, it would obviously be excellent news if GNG could announce those new contracts in the imminent trading update as flagged - perhaps at last indicating an upturn in sales from the current £10m or so turnover. If they're SaaS like the two other new banking clients, then even better.

H1 is the cash low point, so any sort of reduction in receivables will be welcome imo - it's this H2 which I hope will see an improved situation following the cash collection season in December onwards.

[sir rational] 05/11/2013 16:18

You can pick some up cheap now

[sir rational] 05/11/2013 14:22

A lti is a shti gone bad lol

[eric76] 05/11/2013 14:13

Agreed on the charts there. For myself i'll be looking for an improvement in receivables + confirmation that they're having some success moving away from iaas and towards saas as that would seem a lot less hassle to get paid for from their reports. If they can show positive moves in those 2 areas (and announce a couple more contracts with these large chinese banks) then I reckon we'll see quite a recovery in the share price
Of course if they don't we'll be lti's again.