As you say, this could be very big or an elaborate hoax.
One other possibility is self-delusion on the part of P1. A sort of corporate Baron Munchhausen behaviour.
Certainly this Disneyland announcement by P1 did not light a fire under GCN's share price.
Some particular items caught my eye.
There could be "80 million Priority One Debit Cards per annum and limitless capability for the number of online debit accounts able to be opened and operated."
Time to cut up my boring ANZ debit card and get with the action. -------------------------
P1 has a "51% interest in motion picture developer and content aggregator Steer Film & Entertainment Ltd."
A pre-existing company generated this name less than three weeks ago according to ASIC records, but previously it was known as Capricorn Film Studios Pty Ltd (CFS).
http://www.aarcapital.com.au/related.htm shows that CFS is a member of the AAR Capital Group and AAR's web page states: "An Australian based film production company producing a rolling slate of Australian feature films for the international market. This company has the backing of a large international financial institution and international film industry groups."
Curiously there is no mention of a single production item on this rolling slate. There is no other entry for CFS found by Google. Film production companies don't usually hide themselves from Google searches. They like to boast publicly of their productions. So Steer Film & Entertainment Ltd. don't look like being movers and shakers in the film world.
It looks as if AAR got rid of its controlling stake - maybe all of GFS, in fact.
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"Life, Leisure and Fashion Channel is under development, . . . and will enable viewers to purchase everything from a Rolex to a Rolls Royce."
That's useful. My corner shop has stopped stocking these items, and I would in any case prefer to buy them as a couch potato watching TV.
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In fact I wonder whether the market believes in the reality of all this. Look at the share price. Total indifference an hour after the announcement - and that's not because there was a previous rise in anticipation.
One final question. Does anybody know what the profits of Priority One were for the previous financial year?
GCN Price at posting:
1.7¢ Sentiment: None Disclosure: Held
