I have raised these issues before. Although be fair, Peter Stafford and Sam Di Giacomo were not involved with ATG Looks to me they climbed aboard a moribund Mercury Brands, sold the rag-trade assets to Jeff Moss, changed the name and tried to get an online gambling franchise asset (possibly linked to their P1 ambitions) then made a deal with Centurion Securities and Investment Services (CSI)which holds the P1 asset. But none of this could go forward because the wolves were at the door of CNC, legal issues with a warehouse lease in Geelong.
They appear to have strong connections with CSI. So the positive spin is they've been looking for an avenue to get the P1 model to market and the GCN JV may be the way. The negative spin is, what claim does the liquidator have for CNC shareholdes and creditors. From the statement that the only value left was the shell, perhaps CSI held onto the asset and are now in wind-up as the asset becomes P1
just speculating It's all slightly opaque
GCN Price at posting:
4.6¢ Sentiment: Hold Disclosure: Held
