Wildcat2
24 Sep 2015
Re: Cash position I agree that it must be tempting to just wind it up and return the cash to shareholders, but the majority owners (Cai Yongde and family) will be reluctant to shut down a business that has been making nearly £20m a year.
Wildcat2
24 Sep 2015
Re: Lock in expiry It's very unlikely that the 'management group' who own something like 80% of shares in Jqw will want to sell at the end of lock up. Why should they sell when the shares are at an 80% discount to cash?
Wildcat2
24 Sep 2015
Re: Cash position There is no reason to doubt the £47m cash on the balance sheet. Cash in the bank is the easiest thing for an auditor to check. It has to be confirmed in writing by the bank where it is held.
Sir Singh
24 Sep 2015
SCAM Wake up and smell the coffee. Makes me sick how unregulated AIM is. Con artists at best. Whose credible in the BOD?
hubster
24 Sep 2015
Lock in expiry I'd like to see this company do well, as I've been an on / off investor for some time.........However, the main issue with share price recovery (apart from the obvious cease trading) is the share ownership. The vast majority of the company is still owned by the founders, who I believe (unlike the other original investors who exited earlier this year) can sell from December this year. This is from the JQW site :The following companies are now subject to the Lock in Agreements that restrict them from selling shares without the written consent of Cairn and Argento for a period of one year from 9 December 2014:Holder Current Holding %Tian Sheng Enterprises Limited1 80,150,400 41.4%Champ Public Limited2 29,182,400 15.1%Fortune United Capital Limited 23,680,800 12.2%Cheng Tong International Limited1 12,751,200 6.6%Dong Feng Developments Limited3 7,286,400 3.8%This tells me that in just over 2 months there is around 80% of the share holding which could be sold without notice; and that is only just over a month after the earliest date the suspension could be lifted. Interesting times.
N0rbie
24 Sep 2015
Re: Cash position If they really had 24p a share in cash, the share price would not be where it is.I was taken in too and have lost a lot of money like others, but unfortunately you have to wake up and see that they have zero credibility and it is likely the whole thing is a con.
Wildcat2
23 Sep 2015
Interims It's good to see that the balance sheet continues to strengthen here. £47 million at 30th of June. Probably £50m now. As the previous poster said, that's over 25p per share. Also interesting to read about quite rapid growth of the micro loans joint-venture with the credit ease group. There is a line in the Chairman's statement about an 'intention to use the company's resources to diversify into new products which will generate more value for shareholders." It may be his intention to expand more into this area. Paying subscriber numbers have not risen much. Maybe reached a natural ceiling there. Passing on the interim dividend was inevitable given the 30 day suspension. But this news didn't hit the share price too badly. Perhaps everyone who wants to sell at this level is already out, which is a good situation. I would have liked more from the chairman about the suspension - causes, cost, implications for revenue going forward. But perhaps these are still unknowns. I think a month off-line is to be quite damaging to the business and it will take us some time to recover. But I'm sure we will recover.Pity about this completely unexpected suspension. We could have been at 20p today without that unexpected thunderbolt.
TX2
23 Sep 2015
Re: Cash position Yes we have no xiang jiao....
waytogo333
23 Sep 2015
Cash position Results show a cash position of £47 mill (using a 10p/RMB conversion rate) and 194 million shares in issue.Therefore, am I right in thinking a cash value of 24p/share in its most simplistic calculation??? Maybe they should just return cash to shareholders........................
Ripley94
23 Sep 2015
Re: Good results Down 8 % but that's in spread. Will the linking of exchanges help here ?
N0rbie
23 Sep 2015
Re: Good results Can anyone believe anything this company says anymore?
waytogo333
23 Sep 2015
Re: Good results Cash generative, but still no mention of a dividend......
I always get it wrong
23 Sep 2015
Good results good results but the suspension will effect the H2 income and more crutial the possibility of losing customers to competitors.Hopefully we can look forward from this low point as cash is still positive.
Sir Singh
21 Sep 2015
Prove what? Why not look backwards to May 2015. Hello. Seriously will comment. I make sound investments. Don't let Moni fool you. This is a dead duck and waiting to be a cancelled listing.
woodee
21 Sep 2015
Love the way... the lack of control and regulation in China has been used so many times, as a reason for the poor share performance but now the Chinese Authorities clamp down with an iron fist people panic. The low volume today on this "disastrous" news says it all. Not everyone is throwing their shares away. Good luck to holders.
