Richygm
14 Jan 2015
Re: where is the cash? This co reminded me of RCG too. I got out of them with a small loss - just before they began their big slide - and bought a gold mine! The CEO was paid off with over a million just before they collapsed, and there were posters on that board who refused to face the obvious. One, was going on holiday to Malaysia and said he'd pay them a visit to check that they were what they said they were. He made the big mistake of telling them in advance. They entertained him in an office and he cited the fact that the car park was full of cars "sporting RCG stickers" as evidence the company was pukka. The cars, of course, had been hired for an hour, or whatever, and the stickers had been run off on a copying machine.
The Millipede
14 Jan 2015
Re: where is the cash? Could be Orchard. The cash and other assets were always suspect simply because they could never leave China so there was never any sense in which shareholders owned anything at all.Obviously it is worse if the cash has been siphoned off but it would be no surprise....l wrote a while ago, either here or on advfn, that this company reminded me of RCG and I was roundly poo pood, probably as a xenophobe when the fact that they are two "China" stocks was largely irrelevant to my thinking at the time. There are good China stocks out there. There was even one, West China Cement, listed on AIM although of course it eventually realised that the UK's junior market is for losers and moved its listing to Hong Kong.
Orchard Gate
14 Jan 2015
where is the cash? Recently Naibu claimed to have £37m of cash. This now appears to not be the case or not any longer so there would seem to be only two possibilities
1) It didn't have the cash at all (i.e. fraud)(2) It did have the cash but someone has made off with it (i.e. fraud). Could that be why it was the NEDs who requested suspension because they were unable to find the Exec Directors? Where are Hardboy and Uphill Struggle when the truth emerges? And when one wants to laugh at them?
The Millipede
13 Jan 2015
Re: Suspended as predicted "Loadsa, Millipede, Hardboy, Uphill,I hate to say I told you so but....I told you so."Told me what paccamac?
paccamac
12 Jan 2015
Re: Swindell "Operating cash inflow for H2 2014 (before exceptional items but including initiatives that concluded in the period) was approximately £13 million."The caveat of exceptionals is a catch all nasty and you could bung a lot into exceptionals (PwC, all costs associated with RT now he's no longer there, share based payments, etc etc etc) The H2 numbers could easily be a net outflow once exceptionals are factored back but as usual QPP don't bother with transparency and prefer to mislead investors.Regardless of this though, even the Quindell faithful must realise that £13M is a pittance given their forecasts. They are supposed to deliver >£300M this year and following 6 months they've done £13M which either means a) profits are a million miles from where they should be or b) the vast, vast, vast majority of whatever is reported will be accrued income which won't generated a single penny of cash.Get it?
LoadsaDosh2
12 Jan 2015
Re: Swindell Surely Cash inflow means there was a net inflow otherwise they would have had to say a cash outflow? Cashflow takes everything into account; there aren't two cashflows; its either in or out.
paccamac
12 Jan 2015
Swindell LoadsaI have also been a bear of QPP and continue to be. Yes it is well up over the past few weeks and a x4 fold from the bottom but it is still >70% down on the high and financial fundamentals remain absolutely terrible. The latest RNS says it all - £13M of cash inflow in the period but no mention of the outflow. For a business that is supposed to generate >£300M of PROFIT this year if they report the right numbers it will therefore all be accrued or manufactured with no economic substance.There might be a long tern recovery in the fullness of time but I will go out on a limb and predict the sp will get murdered when PwC report next month.
Orchard Gate
12 Jan 2015
Re: Ignore doesn't work when not signed ... "you were forcasting they would not get a NOMAD to take them on and would be bust by the weekend; you were wrong"No I wasn't, so I wasn't. I said their due diligence would be interesting, which has proved to be spot on. Show me a post where I said they would not get a NOMAD. Last time I asked you the same question, you pointed to a post made by someone else. Can't you do better than that? You're none too bright, are you?
LoadsaDosh2
12 Jan 2015
Re: Ignore doesn't work when not signed ... Quindell up strongly today; back over 100p though I sold out lower. Tesco not so good now imho, I have switched to Sainsbury; we'll see. Ref. "Shame you missed out Orchard Gate", you were forcasting they would not get a NOMAD to take them on and would be bust by the weekend; you were wrong. If you had bought prior to the NOMAD rns and sold after you could have made 50%. Fortune favours the brave you know.
Orchard Gate
11 Jan 2015
Re: Ignore doesn't work when not signed ... So you could see it might be a fraud but held on because by then the shares were so low it wasn't worth selling? Fair enough.Did someone then compel you to post childish drivels such as "Shame you missed out Orchard Gate" and "If you count up the votes, OG, I have 11 on this page and you have 3. I win, you lose, THE END".I see you were also posting bullish nonsense about Quindell and Tesco. They say a fool and his money soon go separate ways ...
LoadsaDosh2
10 Jan 2015
Re: Ignore doesn't work when not signed ... I was blind at the time I bought because they were paying a dividend then and were recommended by Investor's Chronicle. the time you and paccamac flagged them as being a fraud and the price was 10-15p; I could see that was a possibility but they were worth so little by then it just wasn't worth selling on the offchance that it might come good in the end. I guess even now there is a possibility of NBU being requoted once the finacial position is clear but I agree it looks like its over and we've been scammed. Don't know what LSE were thinking of; probably just their fees if truth be known!
Orchard Gate
10 Jan 2015
Re: Ignore doesn't work when not signed ... I don't think Naibu is an example of risk/reward. I think it is an example of a company which many people could see was a 'wrong 'un' or even a fraud but despite which managed to attract some private investors (like you) who were blind to the warning signs and unwilling to listen to those who flagged them.
LoadsaDosh2
10 Jan 2015
Re: Ignore doesn't work when not signed ... Enjoy your moment of glory OG. It's all about risk/reward though there'll be some winners in the future for the people you mention. I have to say that AIM has been dire for the last two years. you can look at almost any AIM share and the price history is the odd spike up but with relentless downward slope thereafter often followed by placings at ever decreasing prices causing massive dilution. Best avoided for now I think.
Orchard Gate
09 Jan 2015
Re: Ignore doesn't work when not signed in "I wasn't signed in and saw a post from Orchard... His chart on NBU reminds me of the same sort of comments when TCG took a dive and recovered... 10 fold" UphillStruggle 31/1014 LMFAO!
Orchard Gate
09 Jan 2015
Re: Humble pie time Weird isn't it how all those who were shooting their mouths off a few weeks ago (especially Hardboy and UphillStruggle) and decrying any suggestion that there was something wrong with Naibu then melt away when it goes titsup. Have they no spine?At least Loadasdosh is willing to take it on the chin (a bit).
