whats eating city pacific..., page-7

Calm down little Koala

I did say read the accounts where my error would have been recognised. Rest assured the error was not intentional. I have more then just one company's financials on my mind!

First of all we aren't even discussing the Mortgage Fund on this particular thread.
Secondly, regardless of my view on the Mortgage Fund, I am entitled to an opinion on the CIY shares. Just as I am entitled to an opinion on any share listed on the ASX.

So one sentence was incorrect - sorry! But the rest of my posting was entirely factual:

"But City Pac says they are able to continue as a going concern, the auditors query that. They are at risk of losing the RE rights to the Mortgage Fund via the meeting in June or alternatively IF ASIC chooses to intervene (City Pac are currently in breach of their AFS licence due to the net asset position). ASIC hasn't intervened so far but definitely are aware of the situation."

That's not rubbishing the stock, just stating facts.

Yes I am in favour of the change of RE for the Mortgage Fund.

Yes I am part of the Steering Group that has worked very hard towards finding an alternative RE for the Mortgage Fund.

Even if I was 'rubbishing' the CIY stock (as you like to put it) I don't see how that affects the Mortgage Fund. You seem to have it around the wrong way. What happens to the Mortgage Fund may affect the price of the shares, but what happens to the shares is hardly going to affect the Mortgage Fund!

Regards
Nicole Vanroon
CPFMF UHAG Steering Group Qld - one of the people who organised for an alternative RE to be found to possibly replace City Pacific as the RE of the mortgage fund which I am an INVESTOR of - Yes I have an ulterior motive in wanting to change RE - shock horror, I'd like to get my money back - how incredibly shameful to want back what is mine!
I hold units in the City Pacific First Mortgage Fund.
I do not own any shares in City Pacific as I have previously sold them because I PERSONALLY doubt the long term prospects of the company.