Wouldn't be following big Kev's advice on SP or someone that is using his pic as an example of their stock/market knowledge..
Kevvie, known as a great con man of Australia'.
Just three months after raising $6 million in a public listing, Big Kev's Ltd's shares, mostly bought by retail investors in an offer promoted as "the people's float", had dropped from 50 cents to as low as 16.5 cents.
Three years after his patriotically minded cleaning products company joined the ranks of the Australian Stock Exchange, Kevin McQuay had decided to cut his losses and resign.
In the prospectus, dated June 18, he had promised $28.2 million revenue and a $1.9 million profit for 2001-02. By now his loyal customers were supposed to be spending $2 million a month. Instead, it was closer to $700,000. On October 31, the day after he was pulled over for drink-driving, McQuay halved the forecast to $14.4 million revenue and $1 million profit. Even that was looking optimistic.
McQuay realised he would have to amputate his general manager, David Fitzgerald. And the troubles wouldn't stop there.
But nothing else mattered if McQuay could not reverse the decline in sales...which he couldn't.
Since listing in August 2001 - a process - (Kev the
i am depressed McQuay) described as "the people's float" - Big Kev's had failed to make money in a notoriously competitive industry.
Big Kev was not so excited !!
