ccc village main tranaction bank now approved, page-66

I have always had a health respect for your opinion BG.
Like Nathan. You tell it how it is.
The money go-round in the "Fleet" is a well established one, and if you get your head around it. There is money to be made.

The last 2 converavbles done in Dec 2012 saw the price drop from the last pump @ 6.2 to 4.4c where the conversions took place at 80% 4.1c and 3.9c.

As you can see on the chart what happened next. A very heavily pumped.
Oracle (AU) and Baycrest LLC were the converters.
Baycrest did the 3 party Broker report of Investec.(UK)
This pump saw an influx of "new UK posters" to the forum along with some reactavations of old H/C accounts.
The converters near doubled their money in a month and a half
-----

This latest conversion seems more insidious (imo) because it has had a two pronged effect.

One.
To push the price down to be able to covert at a low price. From 4 April on, it looks a perfect place to take the 80% 10 Vwap. With no demand. Not hard to push the price down. Especially if you are aiming of an 80% conversion of around 3.9c

Two. (The insidious part)
On the 18 March they announced the buy back at 5.2c. Only stopped if you wrote in to tell them not to take your shares before 29 April.
The demise of the share price started straight away.
Note the last few days of April gave a good shack out and then note 29th. Quit clear what has happened really.
Now people will watch this move passed the 5.2c they let their shares go for. (Which went to Village)

I believe this pump will not have the legs of the Jan pump.
For two reasons.
1/ This conversion seems to be local. Unlike the UK involvement in the last one (Which included new UK posters). AIM didn't follow ASX after the 15%. (Only 3.8%) IMO this could die at the last pump level at 6.2c.

2/ Village have the option for another 3.5%. Their average is now 7.7c. They will want to bring that down further.

But picture speaks a thousand words

The "Fleet" have a very poor record of performance. All make a loss. Constant missed time lines. Consulting and facilitation fees and dilution, dilution, dilution.
But if you pay attention. These dilutions come with a pump.
That's were you make the money.
Know what you have invested in!!!!!!

P.S
Before I get any EBITDA rubbish.
Here's what EBITDA does not include.

The Board of Directors assesses the performance of the operating segments based on a measure of adjusted EBITDA. This measurement basis excludes the effects of non-recurring expenditure from the operating segments such as restructuring costs,
legal expenses and impairments when the impairment is the result of an isolated, non-recurring event.......... Furthermore, the measure excludes the effects of equity-settled share-based payments and unrealised gains/ (losses) on financial instruments.
Interest income and expenditure are not allocated to segments, as this type of activity is driven by the central treasury function, which manages the cash position of the consolidated entity.

Total loss for half year. $7,291,000
$25m liabilities more than all total asset value.
Read Audited accounts. Not presentations!!!