Good to see you fighting the good fight scooby! The 'keeping the...

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13,500 Posts.

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18/11/17

08:09

Post #: 28911815
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Originally posted by Scoobysnacks ↑

Hi,
What are you actually thinking FGF plan to do? To date, they seem to offer a little cash here and there to unlisted entities. And what other investments they make, they have lost out on recently.
From the FGF webpage

The company plans to continue as a Listed Investment Company (LIC), seeking additional investment opportunities in a variety of asset classes, be they in listed or unlisted companies, in which it either believes they are significantly undervalued, or where it believes it can add value through investment and management expertise.
The company will seek small investments, of not greater than $500,000, in unlisted entities that it deems have significant upside and have the potential to be listed. As such it proposes to be an incubator for small companies that can be taken to a Stock Exchange Listing, and then to support those companies post Stock Exchange Listing

So just run me through the numbers once more.

The $350,000 they have in Pearl Global will probably get dumped upon relisting on the 29th December. almost 4 months late and still only a prototype idea.
And Cloud Lumen will probably offer up the same profit once listed in 2018

This is an investment company who said in their latest annual report they doubled their LOSS from $481k in FY16 to $872k in FY17 due to "Trading loss on investments and increased operating costs" Isn't the aim of an investment firm to make money not double their losses???
And if you happily swallowed an increase in operating costs for 3 blokes and a shared secretary then you are extremely naive. Why have you not questioned the Board doubling their wages at the same time they doubled their loss from $148k in FY16 to $400k in FY17? do you think that was deserved?
Literally all this company has done is mention the word "Blockchain" and the heard think these guys are about to build the next Bitcoin. If history is to repeat itself , then the Top20 holders who are related to the Board but not disclosed are the ones who have probably been selling their shares off the Pump whilst the rest of you will be caught holding nothing but a loss. The share price is only at 2.2 today because someone is selling and some poor bugger is buying. You may have held since 0.9 and made a bag but i feel for the people buying at these high levels.
I was once like some of you, couldn't stand some one coming onto the XPE forum screaming from the rooftop that certain members of the BOD are less then desirable, i just wanted the sentiment to be positive or the stock would never go up. I can speak for a lot of people who say i wish we acted sooner and listened more. This is CMY quality stuff.

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Good to see you fighting the good fight scooby!

The 'keeping the bastards honest' and 'devils advocate' role on forums such as this is a very valuable one!

FGF Price at posting: 2.2¢ Sentiment: None Disclosure: Not Held
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