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I'm no seeing any bb messages
He didn't say it was going into administration but he did say Barry was organising the administrators. The main goal of any administrator is to try and rescue the business wherever possible and to do it as quickly as possible. I asked whether it was filing for bankruptcy but he wouldn't be drawn. He said there were a lot of rumours on the web about all the options but they didn't have anything concrete. He seemed genuinely knocked for six as this is his livelihood too. I asked him whether the company would still be at the symposium in November and whether it was still operating. Both of which he didn't really answer. Clearly staff have been briefed about enquirers as I phoned their general number in the first place and the lady answering the phone gave me Mikes mobile number and said all comments would be addressed by investor relations. Just called the general number again and asked what the staff had been told. I was that they only knew what we know, nothing else. The person I spoke to was worried about their job. I asked about the symposium again in Barcelona. It was confirmed that this had been booked but of course this was booked before the weekend. I was told that it hadn't been cancelled as yet but they couldn't confirm whether they would still attend. I also asked whether the company was operating as normal and was told it was and would be until told otherwise. My overall feeling is that they don't know any more than we do at present but they are clearly worried about their job.
There is no reason for the company not to be still operating, unless they break their banking agreements they should still be working
When you say "was making arrangements for administrators" - are you saying he said it's going into administration?
good to see hes answering the phone! thanks for the update
I haven't posted before but was a very large position holder of Globo. Called up Mike Jeremy at Globo today (investor relations) today on his mobile trying to see when an official update would be due. He was very cordial and seemed shell shocked himself. He did say that Barry Ariko was putting the a team together and was making arrangements for administrators. He hoped there would be an official update soon.
if uppens previous posts are to be believed he owned upwards of 600k shares and was using very heavy spreadbets..... he mentioned £3k per point. he has lost an astronomical amount here possibly the largest for a pi so dont expect to here from him any time soon
Where is Uppen?
I followed Standard Life and Hargreaves Lansdown, assuming they would have done due dilligence work before taking substantial positions. GT, the Auditors will try wriggling out I suppose but surely there was so much wrong that basic Audit would have revealed a thread and more work needed to be done!
ive resigned myself to there being no cash at all. If they have been at long term fraud by raising invoices from shell companies as stated in the qcm report there will be nothing. the auditors obviously have`nt checked or they may have subcontracted the work to a greek team where the accounts were compiled...... just speculation but something has gone seriously wrong over a sustained period with no one undertaking due diligence....... including myself!
It is standard practice for auditors to gain confirmation of the bank balances directly from the bank by writing to them. Cash is therefore very straight forward to audit and difficult to get wrong. Other than both the Ceo and cfo admitting some kind of irregularity, the full extent is not yet known and so anything else published online is nothing more than speculation. I doubt very much the shares will be released from suspension until the full facts have been disclosed by the company.........this would be too easy for shorters and unfair on people like myself who have invested long here.
What are the current bank balances? Was the €100m+ a figment of imagination? What certificates did the Auditors rely on?
He only bought 50000 shares (25£k) probably just to make the scam look more believable.
That is September 2014, a year back but sold out October 2015. Where is he? Has he been apprehended?
As a matter of interest, the Globo PLC website is still online and operating, I haven't tried the Contact Us link, maybe I should, so I can ask for my money back. Of course in all the fall out from this, not only have we, the shareholders lost money, but I should also imagine the genuine employees must be on the verge of losing their jobs, If they haven't done so already. That link for Value walk was interesting and tells the full story, It seems Globo would have gone on with this scam, deceiving everyone and that trying to raise funds in USA with their high yield bond, was their undoing. The only thing I do not understand and perhaps somebody else has a better slant on this is Costis was still buying shares in his company as late as September? Why do this if you think you are about to be found out.
I wouldnt invest in any company associated with Cannacord. They have ruined their rep now. Awful
GLOBO Plc (GBO) Will Likely File For Bankruptcy: Tilson By VW Staff on October 26, 2015 http://www.valuewalk.com/2015/10/globo-plc-gbo-will-likely-file-for-bankruptcy-tilson/
mpg1 Maybe jolly is Costis.lol.
I think he has been watching the Wolf of Wall Street. What an utterly bizarre day. I thankfully sold out at 37p for a small loss but had been watching SP and was even considering buying back in. I have definitely learned a few lessons in this share which I will try to remember in the future. As for Costis. He obviously thinks he can get away with this. That £12M will be long gone now and he is must be thinking it is worth a jail term. Begs the question though. Why not sell at 60p early in the year. Maybe it was just greed. Maybe the Bond was the last desperate attempt. Either way. Costis. C U Next Tueday
on a bad day. Appreciate your honesty Kowloon - respect. I expect there will be a class action at some stage. I'll take part if there is on principle, but my loss is too small to be a lead claimant. Hopefully Forum don't get in first. I think liquidation is the most likely outcome personally. I think if it had been recoverable Costis et al would have tried to bluff it out. As I said earlier the nature and circumstances of his admission are incredible and bizarre, I can't believe he sold too - surely he isn't thinking he can just walk away freely?!
at Ennismore again!
A poster on the iii board posted this tonight. Kinda sums up MF if you ask me - read what they say, do the opposite and you've got a chance :-) "Globo Just look at these figures: a 2015 P/E ratio of 3.21. A 2016 P/E ratio of 2.72. An earnings per share progression between 2012 and 2016 of 4.22p, 6.20p, 7.35p, 7.87p and 9.30p. Hardly any debt. A share price that has been plumbing the depths, despite a surfeit of good news. Globo (LSE:GBO) is not some basket case. On the contrary, this is one of the fastest growing companies in the UK stock market. Bear markets can be brutal. I have learnt from bitter experience that it is better to stay uninvested until it draws to a close (which is round about now, I believe). But they can throw up the most astonishing bargains. Globo is perhaps the pick of them. Globo's business is one that is buzzing. It sells mobile apps for enterprises. Salesmen and managers are increasingly using smartphones and tablets to work and collaborate. The amount of media coverage of Apple's iPhone 6S illustrates what a growth area this is. For me, this is a cast-iron buy".
Sorry, not intended. I did though try and warn others to be careful and you never know, some may have sold out early and saved a lot of pain and financial loss after the post, some small comfort.
I thought something might be up, but not on this scale, was expecting it to drop to 10p area and then ennissmore to close their short like Blackrock did with IQE, then happy days again. So as others have said, don't beat yourself up on it. GLA
Yes I remember disliking his comments but I couldn't see it..... Fair play to him for not coming on to gloat. No comment from jolly either!