erg sale

a interesting one!

http://au.messages.yahoo.com/finance/finance_stocktalk/87858?p=last



ERG Sale--- A Hollywood Style Scam Story Reply to this message
ERG Sale --- A Scam like Hollywood Commercial Criminal Movies
Date 03 / 09 / 2008
From: A group of ERG shareholders who protecting self by vote "NO" to sale the company !
Contact: [email protected] m

A few years ago, He lends some money to ERG, that's not big amount comparing with the whole ERG shares market value at that time. But he has got into the board, and controlled the board. Before he's controlling, ERG has already turned around to positive cash flow. But after that, the board have done couple of wrong thing to offer him opportunities to manipulate the shares prices down from $0.36 to $0.016, So his no big loan compare ERG's market value, become a big one. Now, his final propose show up --- before ERG turning around, take over most assets of ERG, and transfer all share holders to a empty new company with trouble legal case.

Let us to see how wonderful financial scam he's played!

1. The board could hide income by not sending bills to customers, until passed them into Mr. Saville's new company.

2. Increase future working capital prepaid for expense of Mr. Saville's new company in future.

3. So make false negotive balance sheet, also by accounting in unimplemented loss --- Sydney's T/card $88 millions, that haven't been charged yet.

4. Why the board don't put ERG on public market for bid to get much better price. Only the contract of San Francisco value is already more than Mr. Saville's loan . The board is still urgently to sale at the worst time price, after the cash flow have already turned around to positive for 2 months .

5. It's transfer all shareholders to a new empty company. Because the final result is Mr. Saville's new company will use ERG name, and original shareholder's company has to use new company name.

6. What'll be next game of them? It could be that he control the board deliberate to fail the case, then cause the company bankrupt and left nothing for share holders.

We are contacting more shareh ...