Submitted on 2012/07/25 at 12:43 pm In regard to the post:
George Submitted on 2012/07/25 at 12:43 pm
I had to endure Susan and Josh trying to convince me that “perceived value” was very relevant in relation to the value of the company and consequently, the share price.
I could not get it into their thick skulls that the company should only be valued on the oil reserves and not the other bull that Tony was peddling. They had succeeded in getting an article in Business and Finance magazine*
and they wanted to ram it down my throat, I know where I would have rammed it at the time.
Tony was attempting to talk up the value of the shares so as to get the shares trading, he told us in the Red Cow in 2007 that the shares were more likely worth $1,000 and implied that he would pay $400 to anyone who wanted to sell. We now know he didn’t pay anything for shares.
Tony uses OPM. (Other Peoples Money)*
We now know that the $100m investment that Josh was so close to securing in Abu Dhabi was only a figment of their imagination (or lies)
The negativity and noise was blamed for this deal not going ahead AND, why was this investment needed? We didn’t need our shares diluted, we also now know that they had no problem securing funding from the banks AND that there was no restriction by banks on paying a dividend.
WHAT ARE THEY GOING TO COURT TO PROVE? That they can spend more of our money as they wish?