Originally posted by sabine
Thank you kindly for illustrating the course of this company since IPO Saragian....
.... and showing, chart-wise (genetically?) there does NOT seem to be any secret hero waiting in the wings to rescue it.
So as not to waste the research and to flesh out some more fundamentals , I’ll post the rest of the rough notes I made the other day .
Anyone seriously interested should check these out for themselves .
For me the larger point being illustrated here is that following fund managers is a logical starting point for putting together a private portfolio, but they sometimes behave like lemmings .
(Why did they buy into a company run by someone whose last venture along these lines in Japan was a total failure?)
(Why did they keep buying when the company’s star acquisition turned out - within 12 months to be worthless ?)
As an aside the same caution applies with trusting brokers;
Hartley’s and Macquarie recommending people buy RCR just before it crashed is an example . That company went into administration while it was still listed as a ‘buy’ by Hartleys!
David Coates, one of Bell Potter’s senior Resources analysts, had Breaker Resources as ‘buy’ with an initial target of $1.40 when it was trading in the $1.60 range ....They sold down and the company price soon dropped to 22c.
01/06/16 - IPO $1.90 a share
Then Mr Yde III. raises funds to buy Radiate from back in his old stamping ground in Ohio.
http://www.insideradio.com/free/gtn...cle_2b0b7b62-bb39-11e6-bb04-ff7a3b0cdb7c.html
05/12/16 GTN acquires Radiate for $24,393m
06.0/12/16 - raises $57.8m at $2.90 per share to fund acquisition
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYD6wa4yRKZp+N3ke92GA==
05/01/2017 : US company TTWN litigates against Radiate
here
28/02/2917 Chairman Gary Miles resigns for “health reasons”......
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4w69yRb2v/Bt8bFiGug=
05/04/2017 cash bonuses to Mr Yde due to successful acquisition and his increased American responsibilities to do with Radiate
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4w67wRL1v/Bt8bFiGug=
26/05/2017 Company Secretary, Nathan Bartrop resigns
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4w+5wBP1v/Bt8bFiGug=
31/08/2017.
Aug 31 (Reuters) - Gtn Ltd (
GTN)
- FY revenue from ordinary activities up 28.6 percent to $213.6 million
- FY profit from ordinary activities after tax attributable to members $6.2 million
31/12/2017 - impairment charge of $21.7million on write down (write off) of Radiate as they made a mistake
Half Year Financial Statements.
https://www.livewiremarkets.com/wires/microcap-stocks-to-watch-sept-2018
-but a stock to watch according to Mark Tobin in October 2018 after all the shuffling around but before the recent loss of 50% value ....
What comes next ?
More interestingly, I am still curious about why it has been so thoroughly supported.
NB - the notes above are just from a quick timeline study and are do not consider all the company’s activities or people.
(20min delay)