I have followed it and luckily I never bought as I didn't like the story.
The CVI threads are great reading and there are some fantastic investors who have done what they can to bring it to the attention of ASIC and the ARX. Unfortunately it is a sad case of the investors being ripped off with hopes and dreams destroyed as they were left bankrupt and in massive debt. The most important thing to remember is that even the most admired and supposidly knowledgeable posters were caught out in the scam. The same posters that ridiculed anyone that posted anything negative on the threads. Trade4Profit had a massive following and even contracted to do work for management but is now never seen posting on CVI. Others like Raks and 123en have stayed and done what they can to bring a little justice.
In part it is not unlike RRS where certain posters claim to know all the inside goings on and what is about to happen yet they were caught out by Leo. The same posters were stating every thing was ok at 90 cents, 60 cents and 30 cents, only to disappear as the share price plummeted. Most of the dust has settled and now they reappear with their little snippets on how things have changed and how well the share price is performing. They bought in big around the 2.7 cent and 3 cent mark BEFORE the 20:1 consolidation. Believe them if you must!
There is a big difference though.
Compare the scam that CVI did with what Range did and you will find that Range are not in the same league.
If you do invest in RRS then set your stop loss and stay with it.
Good luck as you will need it.
DYOR and go back a couple of years on the RRS and CVI threads....great entertainment.
RRS Price at posting:
5.8¢ Sentiment: None Disclosure: Held
