The AFR just exposed what they could stand up for the paper. This story would have been legalled to within an inch of its life. To take the absence of disproof of the NA Williams as proof that it's all systems go and the revenue forecasts are solid is a huge failure of logic.
If you followed the QIN saga, Glaucus went after the chinese buyer - shanghai richer link. That was a direct hit. They didn't go after the galderma contract because they couldn't stand it up. That didn't mean that the Galderma contract was solid - it turned out it had already been terminated.
QIN announced the Galderma and chinese contracts with much fanfare and spruiked the revenue forecasts from them. Then they failed to announce the loss of those contracts, lost the trust of the market and went bust. Sound familiar?
GSW Price at posting:
$2.92 Sentiment: Sell Disclosure: Held
