re: Ann: Acquisition of 50% of EcoConnect Aus... The logical...

re: Ann: Acquisition of 50% of EcoConnect Aus... The logical thing would be to cut off all contact and go it alone. Some crazy people like to hint that P1 will take GCN over, no chance of that in my honest opinion why pay 9 million for 5 million in liabilities ? But the question remains what is it P1 is going to offer, have a look at some of the businesses it is involved with.

Movies • Bollywood and International film libraries • Music • Sports • Gaming • Interactive game programs • Health
and education • News and Stock reports • Online publications (E-books and E-magazines) • Social media • Shopping
and Daily deals

Im not seeing a clear business model, it is much the same as GCN a whole of lot of hoping to hit the big one. If you read section 5.2.1 of the prospectus it states

The Company has no financial, operating or performance
history which can be used by investors to make any form
of assessment of the ability of the Company to achieve the
objectives set out in the Prospectus. The information in
the Prospectus about the business and strategic objectives
of the Company is not, and ought not be regarded as, a
forecast or as any form of indication of the likely future performance of the Company. There is a risk that the
Company’s business objectives will not be achieved.
For example, Priority One cannot give any assurance to
investors that it will be able to successfully achieve the
following:
• acquire new Members;
• retain existing Members and have them
continue to purchase Priority One
products;
• attract new Affiliated Merchants and have them offer
additional deals in Priority One’s marketplace;
• expand the number, variety and relevance of products
and services to Priority One members;
• respond to changes to consumer access to and use of
the internet, IPTV and smart phone devices; and
• react to challenges from existing and new competitors.

And as such i continue to rate this stock a SELL.