AKP (ASX) Ann: Suspension from Official Quotation

Originally posted by Shortblack: ↑

I bought into PET during the big hype. Just a very small investment to initially dip my toes in to see what might happen, because when things look too good to be true, they usually are.
When the lid was lifted on the corruption, illigalities, manipulations and bogus representations, I got out as quick as I could. The die hard, long term PET investors were very much like some of the AKP investors here. They spent a long time in denial and refused to let go of the dream they had been sold. Some of them still hold onto it. It becomes cult like.

ASIC and the Australian Federal Police are both still investigating PET. No charges have yet been laid and no legal actions have yet been commenced. So we'll have to wait and see how much power a certain group have over regulators and authorities.

When FB popped up to make his move to take control of PET I became curious about AKP and it didn't take much effort to clearly see the trouble they were in. There is no other obvious or probable reason for FBs interest in PET other than its bank balance. I honestly thought he would have made his move on the cash by now, but there is still a few weeks to go, so let's see if he dares.

It only took a little bit longer to see how similar the set up is to PET. The incredibly amatuerish and unprofessional way in which they manage the business; present their corporate identity; the outlandish representations they publish, full of excessive meaningless detail and flowery language and hope. You only have to compare their 2002 style website with other companies out there in the MEM Audio market - it's laughable.

This group of corporate buddies run together. If you look at the histories of the companies they have been involved in you will see who they all are.
They are predators. They have other ties outside of the corporate world that I won't mention here. I have little doubt they all have the same corporate lawyer.

Here's the MO. They find a listed entity with an idea or product in development, they take control and then they work on the hype and pump. They target particular types of investors, the ones that easily fall prey to flowerly language full of hope and promises, who lack the skills to properly research what's being presented; or are not skilled in analysing financial reports; or have little knowledge of the technicalities of the product and what would logically be needed to succeed in a specific market.
The hype is constant and they work with promoters like Graeme Newing who a lot of older investors follow for tips and recommendations (God only knows why).

By getting the share price pumped, they all massively increase their personal net worth, which over a period of time allows them to achieve far greater gains than any loss they may incur at the end of the day.

It is predatory behaviour. And I will be hanging around to see how it all ends.

Expand

The second half of this post contains flawed logic.