abdm, I commend your perseverance and the quality of your contributions.
In my always humble opinion, the recent upward movements in GCN's price are attributable to nothing more than the hype and hot air in anns without any fundamental substance, boosted by the constant, untempered upramping of yaysayers whose motive is clearly to keep prices rising or stop them falling. And the price will no doubt fluctuate many times more before the market establishes the true worth of this company, ... somewhere south of zero in my opinion.
In continuation of the past history of GCN, which is directly relevant likely future performance of the company and its management, the recent anns are full of spin and promise (particularly about China which seems to have a mystical, mesmerising, gold-rush affect on those with no experience of the reality of doing business in that country), which is taken as gospel by many on this forum and extrapolated enthusiastically without consideration for fundamentals, fact or substantiation. And any posts such as yours which touch on sore spots elicit baiting, flaming, denigratory, and often distracting and irrelevant responses.
Going beyond the detail that you have presented, the indisputable, fundamental facts about GCN are: - more than 10 years of failure after failure (this is a 10-year-history, not 'history of 10 years ago' as some yaysayers claim) - operating losses to date of over $42,000,000 - a previous complete (and ongoing) failure in China sports betting after a great amount of hype (which doesn't indicate positively for GCNs capacity to achieve anything in China. And if, as one yaysayer said, that grand failure was entirely the fault of a partner, that doesn't speak very highly of GCN's competence in selecting important partnerships.) - pitiful revenues after more than a decade of operations I could go on, but anyone who is interested in the the reality rather than the GCN/yaysayer spin can easily find the information themselves.
For example, they could go here: http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=gcn&timeframe=Y&year=2005 and look at the announcements made during 2005 about IPTV & China projects. Anns there read like deja vu all over again.
Whenever I've mentioned these FACTS on this forum they have been forcefully repudiated, but only with personal abuse and denigration, or entirely erroneous insunuation regarding my 'motive'. Either that, or these FACTS are dismissed by trite comment about "old things being dragged up", which some yaysayers seem to think makes them irrelevant to GCN's fancifully optimistic announcements, which are nothing but lot of unsubstantiated, glib words about future intentions, MOUs which are completely lacking in effectiveness until the relevant agreements are executed and even then mean nothing until they produce revenues, undefined 'close relationships', unexplained technologies, partnerships that have no value until they deliver anything of substance, and so on interminably.
I applaud your posts, abdm, in the face of a barrage of superficiality, misinformation and hearsay. More power to your research regarding GCN.
GCN Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
