Yep the underlying fact is that there is many issues at the very...

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joemas

294 Posts.

17/03/17

14:17

Post #: 23433915
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Originally posted by tt2000 ↑

Enjoy the terra my friend. Which one you staying at? Make sure you get a helicopter from Nice to Monaco (if you are heading into the french riviera from there) Only a 7 minute flight but definitely worth it...

I'm simply not calling GMC, as I do not believe them.

Here's something interesting:
1. They planned to do a Singapore IPO, investors did their due diligence (DD) on the project and pulled out.

2. Pak entered into a binding agreement to invest. Presumably did his DD after the conventional period and pulled out

3. The SIs have been in "advanced discussions" but now deadlines are being missed and the latest half yearly indicates completion by mid June, if at all. Again, after their DD they pull out.

All GMC have disclosed about the project to us is a high level feasibility, which is attracting interest from investors. However, when they dig deeper something puts them off. Whatever these risks/issues are need to be disclosed to the market. If there isn't a feasible project for SIs, why are we expected to fund management's salaries (and hiring of staff) until they can find an investor.

If 3 investors have now pulled out, it's not rocket science to see that the project just isn't viable in its current form.

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Yep the underlying fact is that there is many issues at the very core of the project.

With the CFO been an ex auditor the vagueness is even more concerning, because he has the skill set to hide information.

GMC Price at posting: 4.2¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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