Ann: Extension of Voluntary Suspension, page-63

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Bubbles Mcgee

241 Posts.

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24/05/17

11:59

Post #: 24880149
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Originally posted by Timbo68 ↑

Bubbles to be honest I have seen a lot less ramping on this board than on others. What I mostly see is 1.) holders worried about their investment and looking for a glimmer of hope. And 2.) non-holders telling us we are screwed.
If you and others can pinpoint areas where there are issues then that is useful to everyone. If you can do it in a respectful and intelligent way, then all the better. It seems to me, as a relatively recent holder (who freely admits he made an unwise decision by buying on the way down) - that the structure of this company is so murky that no one outside it can really be sure what the hell is going on or what is going to happen. More fool me for investing in it. The more murky the structure, the more likely it is that murky things will happen. However I think I have a right to base my decisions on company announcements and disclosures in the belief that they are 1.) truthful 2.) that the company is acting in the best interest of shareholders and 3.) that the ASX and Asic are fulfilling their roles as gatekeepers and policemen. The announcements from Quintis, right up to the suspension in trading continually assured us that the company was okay and not in breach of any debt covenants.
I am livid that the company was allowed to trade on May 12th.
What I am finding very confusing is that the naysayers - who sound like they know what they are talking about regarding bonds and debt, then throw in lines like the company has no operating cash flow - which isn't correct and seems to be conveniently ignored by a lot of those posters ( yes I know it's not enough to cover all the debt, but it makes a dent).
So thanks again to all those with opinions and information. And to all those who smugly say "I'm not a holder but this is a fantastic exercise in understanding market psychology" - I wonder what that says abut your own psychology - the fact that you have to make that point! Let ye who has never made a bad trade cast the first stone.

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Even though you took a shot at me, that's a great post Timbo. Hope you get out of this mess with minimal damage bud.

QIN Price at posting: 29.5¢ Sentiment: None Disclosure: Not Held
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Ann: Extension of Voluntary Suspension, page-63

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