Orchard Gate
26 May 2015
Re: Nomad resigns Precis of the alleged "smoking gun"Naibu joined the AIM Casino on April 5 2012 and from that day to the bitter end it always insisted that it had zero debt and cash of c£40 million. [Link to] a notice of a transfer of a RMB 159 million (c. £16.6 million) loan from the Commercial Bank of China to China Cinda Asset Management.This is dated 8 January 2015 seven days after the FD quit and a day before the NED's got trading in the shares suspended. Cinda appears to be a purchaser of distressed debt.The borrower in Items 10-16 is Naibu (China) Co Ltd. Fuzhou Branch. Loan guarantors are multiple corporates and individuals, including Mr Houyan Lin, CEO of Naibu. The original lender was the Commercial Bank of China, Fuzhou Tajiang Branch.Suddenly a company claiming no debt has a lot of debt. When I wonder was this loan taken out. [The second loan is] a RMB 3.5 million 18% interest loan to Naibu China from a private lender taken out in mid-2011, with Mr Lin as guarantor. …. - the loan was due mid-2013, but neither principal nor interest had been repaid.Apparently the loan was taken to help with the IPO. But at no stage did Naibu ever referred to having had any loans at all. That was clearly a lie. Moreover if it really had £40 million in its bank account clearing this debt would have been easy.
Richygm
25 May 2015
Re: Nomad resigns As Winnifrith says, the people in London should be protecting their investors not taking the money and running.
Orchard Gate
25 May 2015
Re: Nomad resigns I don't think that - I know that.[link] prophets dot com/views/12380/tom-winnifrith-bearcast-naibu-i-now-have-the-smoking-gun
kachiri
23 May 2015
Re: Nomad resigns You don't think there is any cash or assets do you Orchard?
Orchard Gate
23 May 2015
Nomad resigns Nomad has quit and NEDs still trying to get hold of company's cash. Which does not exist.
Orchard Gate
22 May 2015
The wisdom of Hardboy Here's a few of his gems about Naibu:“If you are implying that any LSE listed company is a scam you being libellous towards the LSE”. (p.s.. it's not listed - it's traded on AiM)"The interim results are audited" and "“the half year results … are audited and presented in a half-yearly report” ("Naibu today announces its Unaudited Interim Results"
"the auditors certify the accounts as true” (no, they don't) "Naibu is obviously ridiculously cheap"
Orchard Gate
21 May 2015
Re: from a blog I love it - Hardboy who on the Lloyds bulletin board tried to claim a market rise of 2.8% was more that a 13% rise in the shares. And then refused to admit he was wrong and says he put me on ignore.I'd say maths is not his strong point. Or common sense, given his posts about Naibu.
Hardboy
21 May 2015
Re: from a blog It's interesting reading a discussion between 2 people when one is on ignore, so I can only read one side of the conversation, and imagine what the other is saying. It does seem that Orchard is being the same as he ever has been; and I can reassure myself that I need no longer read his derogatory, insulting, and always negative posts. It must be a horrible life trying to find fault with everyone all the time, and taking delight in other's misfortunes or lack of knowledge or understanding. It also means, if he spends so much time on the BBs of companies he thinks are a joke, he is missing out on some fabulous opportunities, or maybe he only shorts companies - that would certainly suit his analytical bias.
kachiri
21 May 2015
Re: from a blog so do you orchard, so do you
Orchard Gate
21 May 2015
Re: from a blog There had been suggestions that Naibu was a fraud long before the dividend skip gave the game away. Take a look back though some of the posts here. But of course, you weren't interested in considering a different viewpoint and tried to talk it up, so you deserved what you got.
kachiri
20 May 2015
Re: from a blog All the signs and warnings? You mean when they passed the divi and Thompson threw a wobbly?
Orchard Gate
20 May 2015
Re: from a blog So you didn't suggest that Naibu had increased it's profits and would continue to do so, had net cash worth double its market value, passed the div so they could build a nice new factory and had no debt and so were a great buy.To me that sounds about as ramping as one gets, especially given all the signs and all the warnings that this was a fraud.
kachiri
20 May 2015
Re: from a blog Relentless...gosh all I'm doing is arguing with you...it's a two way thing. I've never ramped NBU, just had the wrong idea that it might be a genuine company.
Orchard Gate
19 May 2015
Re: from a blog I have a view that kn()bs like you who relentlessly push scams like Naibu should at the very least accept some responsibility for what then happens.the fact you thought is was sign of a bargain that it traded at (supposedly) a P/E of less than one only proves you are a clueless ramper and if it had been you being chased by the dog I'd have urged Fido on.
kachiri
19 May 2015
Re: from a blog So you have an unreasonable prejudice against small girls who sob with fear? Did one bite when a small child after a heroic rescue? I'm ok being small and occasionally sobbing with fear, it's called being human.As for being wrong, with the fabulous acquisition of hindsight, I was wrong not to buy at the bottom of the market and sell at the top before suspension.
