Ann: Half Yearly Report and Accounts, page-44

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Mibejo

844 Posts.

118

01/09/17

19:12

Post #: 26941986
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Originally posted by john_utah ↑

You've got to look at how this all started.

SK and his mate VL where running a painting business, borrowed money from some investors to fund alibaba type cheap Chinese ripoff watches, backdoored onto the ASX (picking up $5mil along the way), employed under-qualified kids into senior positions, were sued for selling IP they didn't own by the original backers. SK sacked. Not one product from the original investor preso exists.

The company changes it's tack and becomes an "online reseller". No direction. Spending money on launch parties that management bring their kids to. $2mil in employee benefits along the way.

I had serious doubts as to SK's education claims in the first place. Lots of others had doubts as well. When the foundations are rotten it's hard to build success.

It's not a good feeling losing cash on a dog stock, it's happened to me before (~$10k), I'm not trying to rub anything in. Sometimes you've got to take off the rose-coloured glasses, try and take in the information people are offering that gets dismissed as down-ramping, take a step back and have a look at the situation in a neutral light (as neutral as possible when you have $$ invested and on the line) as sometimes that weird feeling in your gut telling you something isn't right is there for a reason.

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Good post John.

Anyone who has followed this knows too well where it has been and where it is likely to lead. I don't understand how buyers can still have faith given the ride others have been on but they keep buying.......IMO

IOT Price at posting: 1.2¢ Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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