cheers 123... just wish I didn't have to reflect on it.
All good though. one for the lesson bank ;)
A little light reading, I occasionally dig up readings on Disctronics to remind me of what not to do again. I will just add CVI to the list now and hopefully I won't ever do this again. I just can't believe I did it twice! There will not be a third time.
The name lives on but only because the assets of the company were sold leaving holders like me with nothing but worthless paper.... http://www.microsoft.com/presspass/press/2000/Jun00/DisctronicsPR.mspx
I love this piece from the ASA website... "we understand at least some shareholders sold shares back to the company for 5.5 cents in 2000 taking the buy back opportunity to establish a capital loss - recently shareholders received a return of capital together with a letter from Hedron Investments Limited who now hold the Disctronics shares in trust - evidently litigation is ongoing but the company expects to "deliver a pleasing final outcome" to its members" http://www.delisted.com.au/Company/2665
One word for the above in bold "BULLDUST!!!"...they left us with b'all and it wasn't "pleasing" at all. The only 'members' who benefited were the holders of the private company shares...shares 'they' (now who would 'they' have been?) 'aquired' for next to nothing. I didn't "sell" as it states above the company simply sent me a complusory aquisition notice and a measly cheque, I see the same thing potentially happening to CVI.
"Forgotten Fortunes"...don't hold your breath trying to get any money if your name is on this list...but maybe worth a try. Good luck to you if you do. "http://www.melbourneobserver.com.au/ob_21nov07_p20z.pdf"
'Caveat emptor' definately applies in all cases in the market, now more than ever with CVI. This will be entrenched in my memory for a very long time, at least until dementure sets in or until I fall off the perch :) I have the names of all involved with Hedron, Disctronics and CVI in my little black book of never to touch again. I simply do not trust them.
Maybe we need something like a black book on HC to warn members of the likes of CVI, Disctronics and many more I am sure.
ASIC must be completely blind in the case of CVI.
CVI Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
