takeover prospects, page-12

cybachic, CIY can't got its fees forever if there is no money to pay investors. The FMF isn't a bottomless pit. They need to get the loan book performing again and that means developers on the gold coast need to get their stock sold at prices that will pay back their debts to the FMF. Also the Martha Cove development has become a huge burden on the FMF. I used to visit the development a couple of times a year to check progress and sales etc. As early as Jan 07 is was clear it was not progressing as well as planned.

stockchap you are an amatuer. I'm well aware of what the City Pacific Finance business does. It used to be called Northern City Finance before CIY purchased it via the Terrain takeover and rebadged it (and pissed off a lot of the brokers). CIY then tried to get the brokers to market the FMF with limited success. I know, I was there.

And on the income statement,
Revenue from the rendering of services - funds management is the fees they draw from the FMF
Revenue from the rendering of services - financial services relate to 2 businesses which are City Pacific Finance and Treasury Group. Both dud purchases that cost CIY shareholders a lot of dilution in 2004 and 2005.

stockchap do you really think investors will keep their money in the fmf after the debacle of 2008? On the first chance of redemption they will withdraw their funds and the FMF will be greatly reduced in size as will the fee pool.

stockchap you embarrassing yourself. The share price is 7.3c. There is a reason for this. CIY's net debt as at 30 June was around $160m. There market cap is around $12m. The market is telling you there is a problem!

Lets see how they go in the next 12 months