did shareholders get ponzied?, page-13

Hi Dogby,

If you can log onto etrade you can read Hunleys past reports on BNB, it was the 10th of November, sorry, that the sell came out, this was two days after the selloff which saw the stock at 15c.

I tried to see which analysts had the buy, but it does not show the historicals on that part.

I am certainly not after sympathy, I bought the later stock having more of an idea of the risks trying to get my $average down to a level which in a rally may have reduced the amount that I lost. That's fine you win some and lose some.

As I said though, my comments are that the speed that this company collapsed looks more like deceit in that like the Ponzi, Maddock, pyramid schemes, people get paid from income, effectively borrowings, then when the income stops it all collapses very fast.

I believed that some of the BNB income was actually from legitimate/relatively safe business such as property and infrastructure rentals, as well as the more risky advisory negotiations business.

If there was legitimate business, how can they supposedly grow their earnings up to 172c per share up to December 2007, claim to have earnings of 43c per share up till June 08 and now have nothing left. I again ask, are these earnings real, or have they cooked the books in some way by using borrowings and calling them income?

Most companies hit a slow down and manage their way into it from savings accumulated from past business, though again, the speed that BNB folded makes me wonder if there is a lot more we are not being told.

I am lucky enough that I only had a portion of my investment money in BNB, mind you it hurts, though I can move on, but I think the way so many investors and professionals were fooled makes things look a bit iffy.