Damming report23 Oct 2015 12:00
Oh dear
I haven't posted before because 98% of posts here are just people having a go at each other (cheers internet) but I have been a GBO shareholder for a while and following this board. I currently own a lump of shares and I am not that proud of myself now, the warning signs were there. if I had sold 2 weeks ago I would have kept a small but tidy profit.
All this stuff about 'shorters = bad' is naïve rubbish. they have a function in the market (a very important one) and in this case the motives of the report's authors are irrelevant, its only the truth that matters. the simple fact is that i find too much of this report believable. I am sure it is exaggerated and i am sure that the aim of the writers is to lower the share price and thus make money, but the fact remains that the accounting procedures, the 'customers' and the suppliers are all very dodgy. why? I think there is no smoke without fire in this case and this company is largely fraudulent.
The thing that would make sense to me is that costis was so desperate to get the £100 million loan so he could takeover other companies with legitimate incomes in order to cover this fraud and of course, make money.
Don't bash the shorters, there is a good reason why they chose this stock and for my money, it looks like they are right.