3034 days ago
With our previous China AIM 'Filthy Forty' performance update, to mark the cancellation of Geong International, we asked 'Who's next to be Geong, Geong, Gone?' The answer has been...
3099 days ago
What is today's biggest disaster on the AIM Casino? Caza, Stellar, one of the Del Boy Lenigas stable? China fraud Geong? take your pick. The Casino is not fit for purpose. Surely the day of its demise looms. And on that note we ask you for suitable captions for the picture below. For what it is worth my entry is:
3099 days ago
Who's next to be Geong, Geong, Gone? - China AIM 'Filthy Forty' performance update. So far 15 down and 2 on the way out. Only 23 left standing. The average loss since IPO is a mere 46.4%. Strip out the two best performerers and two worst and the average loss is 82.5%. Shocking. So who is next for the high jump?
3099 days ago
Over at Paternoster Square, above the headquarters of the London Stock Exchange the black flag was again raised this morning as Geong (GNG) took its final walk to the AIM casino execution chamber and was despatched. I’ve been wanting to say this for three years: “Geong, Geong…Gone!” This is the 15th AIM casino ShareProphets China Filthy Forty stock to meet its maker since the Index was started on June 1 2014. Who’s next?
3131 days ago
Oh dear. It could not get its accounts out on tme - given that they were total fiction that would have been hard - and at 4.05 PM today, shares in Geong (GNG) were suspended as Nomad and broker Finncap quit with immediate effect. I've wanted to use the phrase Geong, geong gone! in a headline for years and now I can. If no Nomad signs up for reputational hara-kiri within a month Geong will be booted off AIM. Pro tem it goes onto the casino death row. Boy the cells there are getting crowded.
3134 days ago
I am in a very good mood today whick means that this podcast is dripping with venom. On the agenda/ hit list: CEB Resources (CEB), EServGlobal (ESV), Rose Petroleum (ROSE), Jiasen (JSI), Geong (GNG) and Tern (TERN). Now I must go and prepare for my great debate tonight with the Evil Bankster.
3140 days ago
So much to discuss today on the podcast. On this wet day in Bristol my life is brightened by a stream of disastrous RNS announcements. In no particular order I discuss Geong (GNG), Vmoto (VMT), Jiasen (JSI), JQW (JQW), RSA (RSA), Boohoo (BOO) - why the UK's top share blogger Paul Scott is wrong - LGO Energy (LGO), oil prices, Antrim Energy (AEY), Belgravium (BVM), Arian Silver (AGQ), Audioboom (BOOM), Proxama Resources (PROX) and in a bit of detail Seeing Machines (SEE).
3201 days ago
The sabbatical can be broken for one of three events: the arrest of Rob Terry, suspension of trading in shares in Daniel Stewart and big China fraud news. Sadly Terry has not yet been lead away in cuffs but it will happen. But I sat down with my lefty father pleasing him as I discussed crooked capitalists (the deluded old boy reckons all capitalists are crooks) with reference to China macro-economics and China fraud on AIM in light of today’s news from Geong and Gate Ventures.
I refer in the podcast to the delusional China claims made by Getafix HERE and to Nigel Somerville’s excellent piece on Aquatic Foods HERE
4110 days ago
AIM listed Chinese joke company Geong (LSE:GNG) is always a bundle of laughs. This is a company that works on projects for 18 months, does not invoice yet books the amounts as income. I have pointed out before that its balance sheet backing is illusory, that its “profits” ho ho ho never translate into cash and that it would probably be out of cash within a year. That was in September. But today the company has served up a stormer of a statement and I have just got even more bearish. This is a classic China bubble story.
4237 days ago
AIM listed China tech stock Geong (GNG) is at 5.875p valued at just £2.13 million and according to its AGM statement it has net cash of £2.2 million and it recorded a small profit last year (to March 31st 2012) of £400,000 ( down from £2.6 million) on sales of £9.7 million (£11.3 million). So it is cheap as chips? No. Its numbers look very odd indeed to me and I would not wish to own this stock at all.
