all a bit complicated

watso was looking for a post that he made in dec 2008, and chanced upon a psot by crisis77, where he made comment about the best hope for shareholders, would be to get out in the next "pump and dump in about 6 months time" - ok, he was out by a couple of months. watso made similar comments, and indeed, posted that at 1c, the stock could be worth a punt.

the thrust of this post, is that there are "backers" of gda, who probably get shares in placements, and then sell into the "pump and dump" most "retail" gamblers .... aghhh watso means long term investors, who bought in the first half of last year, have been wiped out, with their holdings - but there seem to be a core group of company backers, and one assumes that they are making money.

watso has included details from the top 20, over the past few years. sure, then numbers are all a bit complicated, and would be made a lot easier, if the company gave a updated "top 20 shareholder list" every month (not many company's do this).

in watso's spreadsheet, there is a column F called "consolidation", where the first figures in the column would be the holdings of the relevant parties if they had not traded their shares since the top 20 in march 2008 (the numbers for the directors have been changed, according to asx announcements). maybe they have, maybe they have not (ha ha) . watso made posts in dec 2008 (eg post 3602478 18 dec), where he made comment that 8m shares had been traded over a few days, and these simply had to come from holders in the top 10 - and what a surprise, that there must have been several holders in the top 10, who sold out at the same time. the shares had gone ex rights to a 1 for 1 issue on dec 4, but funds due for the issue, were not due till 23 december

the second set of numbers in column f, would have been the entitlements of the holders after the one for one issue, but because most of the 8m shares sold over a few days, just after the middle of december,then the total of these figures should be reduced by an appropriate amount (the directors did not sell - as a notice would have been received by the asx)

after taking into account, all of the above, and then looking at the numbers (top 20) from ,march 2009, then it is obvious that when the company announced (23 January 2009) that the shortfall of 30m shares had been placed, then it simply had to have gone (mostly) to holders on the list. these holders, are obviously not "perpetual benefactors"of the company (because they would be in the poorhouse) , so they are trading the stock - and they sell to you, the mug, in a pump and dump

if the 30m shares shortfall, were placed with people on the list, then it would not surprise, that subsequent placements were also made to the same relevant parties, and would be the source of the stock that came onto the market on friday. the selling did not come from holders, who bought in the first half of last year, because it would not have been worth their while

another mob of retail gamblerssss - ah long term investors, are being sucked in for the long term