GCN - GoConnect Limited

[skc]

I Know all about the Fundamentals that can be known ( that anyone can glean by reading the announcements and looking importantly at the History of the Company )
But they are to me only a good story. That could have a very happy ending .

Let me give you a few more pieces of fundamental facts.

Capital Raising
- On 30 Nov GCN annonuced a private placement of $1.063m by selling 28.125m shares (18.125m @ 2c and 10m @ 7c, avg price ~3.78c) underwritten by Sino Investment Services Pty Ltd (ASFL No 246936), a company owned by Sino Strategic Investments (ASX code SSI).
- Richard Li is the chair of GCN and a director of SSI.
- SSI has been suspended from trading since Aug 2010, it has not lodged any financial accounts since then. It's last financial report on 1 May 2010 showed the company had tangible assets ~$1.6m, and liabilities of $7m.
- GCN has yet to issue Appendix 3B for the 10m shares @ 7c.

Based on these facts, a reasonable person may ask
- Why hasn't the 10m shares @ 7c been issued since the capital raising announcement 2 weeks ago, while the tranche for 18m shares @ 2c has already been issued.
- How is SSI supposed to underwrite the offer when it has no asset and is not really a going concern?

Independent valuation
- SSI's financial report on 1 May 2010 carried intangible assets of ~$60m from goodwill and gaming rights that were determined based by "Independent expert valuation" of an acquired business CEH.
- On 19 Oct 2010, ASIC found that SSI's accounting treatment of this intangible asset is not allowed, and these are to be written down to $0. As mentioned above, SSI hasn't filed a financial report since.
- The 1 May 2010 financial report of SSI also showed a valuation of its gaming rights to be worth $1.08B, or $15.21 per SSI share.
- SSI last traded at ~30c before suspension in Aug 2010.

Based on these facts, a reasonable person may infer
- Richard Li as a director doesn't appear to have a good record on independent valuations.

Priority One
- 21 Sept 2011, CNC released a market update titled "Priority One Rewards". It says "Priority One Rewards will operate a loyalty reward and incentive marketing business delivering solutions to companies, associations, member groups and consumers". Priority One Rewards Pty Ltd is a wholly owned subsidary of CNC.
- 3 Feb 2011, liquidator appointed for CNC.
- 5 Oct 2011, the liquidator of Consolidated Capital Investment Ltd (ASX code CNC) stated that "At this stage, there are no funds available for any dividend to be paid to creditors or shareholders of the company".
- On ASIC record, Priority One Network Group is formerlly known as "Priority One Rewards Ltd".
- Peter Stafford is a Director of CNC. He is also the MD of Priority One Network Group.

Based on these facts, a reasonable person may ask
- Is Priority One Network Group the same business as Priority One Rewards Pty Ltd?
- If so, how can a company have a $275m independent valuation at the same time it's apparent holder is a liquidation process where creditors will get no return?
- Is the supposed listing of Priority One Network Group approved by the liquidator?

Based on these facts (the questions I've provided are not facts), people can draw their own conclusions...

And yes, it might have a happy ending. Or some people might soon get calls from ASIC...

There is a lot more "do not knows" than "knows"
So at a top. long after the knows have sold and gone . The many "Do not Knows" can still Buy and attract more buying.

" You can distribute ALL THE WAY DOWN " because there are always the " Do NOT KNOWS " who think they are buying a Bargain .

That's a good theory. There are often greater fools to sell to. Unless there is a suspension and everyone goes down with the ship.

Gravity...

 

[McCoy Pauley]

Is Richard Li the same one associated with Pacific Century Cyber Works?

 

[motorway]

For starters SSI does not have anything to do with SIS
It does not own any equity in SIS

And SSI does not own any equity in GCN. Or have anything to do with GCN.

Today there was very interesting action at .048.

Still awaiting Support .. Still need to see Sign of Strength

And

Is Richard Li the same one associated with Pacific Century Cyber Works?

No.

Motorway

 

[skc]

For starters SSI does not have anything to do with SIS
It does not own any equity in SIS

And SSI does not own any equity in GCN. Or have anything to do with GCN.

Yes you are quite correct. I relied on the information from SSI's website http://www.sino.com.au/regulations.shtml which is out of date.

On 4 May 2010 SSI announced that they disposed their holding in SIS and SSI nominees for an undisclosed sum. The buyer (or uyers) was also undisclosed.

I cannot find information on who the current owner or directors of SIS or SSI Nominees are. If people are interested they can buy this information from ASIC information brokers.

However, GCN and SIS have the same address of "'SUITES 1 TO 3' 107-111 HIGH STREET PRAHRAN VIC 3181", according to ASIC and ASX data. In fact, GCN moved to this address in May 2011.

So GCN, SSI, SIS and SSI nominees have very little to do with each other...

 

[motorway]

Just a Chart update in the main.

SKC points to the past ( rightly ). But it only should have its place.

It is another reason why new early trend dynamics are chaotic.
Just like at the change of tides.

It again takes work to totally negate a poor past and a powerful downtrend.

Technically many over the years have commented on it eg " The first sell signal in an uptrend is BUY SIGNAL "

But You Still Have to Manage Risk and hence REWARD

so I link to these comments I have made in the past on STOPS

https://www.aussiestockforums.com/forums/showthread.php?t=16701&p=481156&viewfull=1#post481156.

I would point to the Volume .. its magnitude and behavior
Also the Price.

.036 is important as a major LAST POINT of SUPPORT


Also post for information a Market Cycle
Notice Chaotic behavior at ENDS and BEGINNINGS .
Note in this graphic.. The PULLBACK after the "PRECURSOR" falls well below the initial starting point and then the CATCH-UP effect on to MARKUP..

We Could or most likely Not see that happen if it is to be an UPTREND.
It would most likely mean .. THERE IS NO UPTREND .
It could ( I give it very small probability ) be a TERMINAL SHAKEOUT

But everything is FLUX and DYNAMIC..

EVERYTHING is a RESPONSE and a TEST and Everything changes as these occur.

http://www.bloomberg.com/article/2011-12-01/ahSApiSLv_w0.html
EZYBONDS (UK) PLC - Final Results , Chairman's Address

It was announced on the 9th of September 2011, that Goconnect Limited (GCN) a company listed on the Australian Stock Exchange, would implement the Ezybonds Payment Platform as its preferred payment provider.

GCN's principal activities
are the provision of video infotainment and interactive advertising, all of
which is delivery via the internet. This project is entering into the
implementation stage, and it is anticipated that project will be fully
completed during the 1st Quarter of 2012.

Motorway

 

[skc]

Just a Chart update in the main.

SKC points to the past ( rightly ). But it only should have its place.

It is another reason why new early trend dynamics are chaotic.
Just like at the change of tides.

It again takes work to totally negate a poor past and a powerful downtrend.

The valuation and validity of P1 seems to me to be a pretty current issue...

So fundamntal analysis of previous announcements is looking to the past, but technical analysis of previous price and volume is looking to the future?

I can see one more fundamental scenario where GCN can have another good spike... and may be that's what the chart is indicating...

Surely today's announcement is jocular in nature, right?

 

[motorway]

So fundamntal analysis of previous announcements is looking to the past, but technical analysis of previous price and volume is looking to the future?

Probably understood .. YES

Why ? .. Anyone who knows this will be worth more in Six months . Must hold and buy Now to benifit .. Not after the six months passes

Anyone who knows this will be worth a lot less in six months time. Must sell and not hold today .. Not after the six months have passed... ( Six months is a proverbial Six months )

That is why TA probably understood .. Is a Study of responses in the present moment.
it is a process looking forwards .. it is not a whole bunch of lagging indicators imo. You will note I do not use any or recommend any.

To Profit from future events one must make oneself available today.
This is the meaning of Speculation ( to look out )..

To sell tomorrow one must Buy first Today.

The study of responses … is an almost unerring guide to the technical position of the market."

EVERYTHING is a RESPONSE and a TEST and Everything changes as these occur.

Today's announcement you mean the TTV one ?

motorway

 

[skc]

Today's announcement you mean the TTV one ?

I meant the GCN one... they get to film an event. Awesome.

But the TTV one is pretty funny as well.

The PON shares are to be issued at 30 cents per share, a price which is supported by the independent valuation report obtained by PON, and is the expected listing price of PON shares on the ASX.

P1 decided to issue themselves an ASX-like 3-letter code (PON) and they "expect" the listing price to be the same as the "independent valuation".

Anyway... enough commentary from me on GCN. Anyone who cared to listen will hopefully do their own research. And good luck to anyone trading this.

 

[McLovin]

I meant the GCN one... they get to film an event. Awesome.

As per usual, no mention of what/if they are being paid. They also added 25% to the attendance figures (per the event website which claims 200k; GCN claims 250k). Not that it matters, because people all over the world will be watching this on GCN's platform.

It's nice to see they are in event management now too.

 

[Bassyabbie]

For starters SSI does not have anything to do with SIS
It does not own any equity in SIS

And SSI does not own any equity in GCN. Or have anything to do with GCN.

Today there was very interesting action at .048.

Still awaiting Support .. Still need to see Sign of Strength

And No.
Motorway

You've been busy motorway, let's hope the next couple of ann's aren't far away.

Bassy

 

[snsdmonkey]

You've been busy motorway, let's hope the next couple of ann's aren't far away.

Bassy

Oh it's you. Here to ramp on ASF without the threat of a suspension? :

 

[motorway]

You've been busy motorway, let's hope the next couple of ann's aren't far away.

Bassy

Still waiting for Support.

Still see the action as a large correction

Price and volume are slowly catching up with each other

There proved to resistance at .038 on the last trading day of the year.
volume came in and price eased back down .

There were signs the two days previous that a bottom is being sought

Lets see if .038 can become a point of support !

Above that .042 will get real interesting.

That level has set itself up to be a real visible change of behavior juncture.

Until we see SUPPORT
The correction still proceeds.

That is the CORRECTION !



Motorway

 

[motorway]

Very nice start to the new year in my opinion
We need to see the action move across and break out of the current channel.

But !

In the most recent trading days the action has started to look clearly accumulative imo

We will see if we can get some follow through the rest of this week
.038 was resistance.. Now it is looking more than a little like support.

Zones of Volume are moving down. We want to see THEM ( just ) UNDER the current price

( charts and explanation on my blog )

Motorway

 

[Bassyabbie]

Very nice start to the new year in my opinion
We need to see the action move across and break out of the current channel.

But !

In the most recent trading days the action has started to look clearly accumulative imo

We will see if we can get some follow through the rest of this week
.038 was resistance.. Now it is looking more than a little like support.

Zones of Volume are moving down. We want to see THEM ( just ) UNDER the current price

( charts and explanation on my blog )

Motorway

There you go motorway, that should help your chart, fully loaded

 

[motorway]

There you go motorway, that should help your chart, fully loaded

There is still a little resistance to the left.


It Turned on ~ 100 mil shares. Which confirms this move down as a correction in my opinion.

Looking Very Good
DYOR

Technically This is Set up well !

Technically

Motorway

 

[Bassyabbie]

Hey Motorways, love the updates, what do you mean by,

"There is still a little resistance to the left"

I thought the buyer/s smashed the sellers in the market depth late in the day and caught the sellers off guard lol, opened it right up so to speak.

If enough punters realise we closed out of the trending channel, the buyers might start building up strongly on the buy side, it does look weak as of the close, is that what you refer to as a little resistance.

Thank you in advance

I attended the AGM and am expecting a couple of Company Makers to be announced by the end of this month, 1 or 2 already overdue and then the MOU in China for the Gateway to be signed off, I know Richard Li is currently in China/Hong Kong FWIW

Exciting times hey, it's always good to see things backed up on the chart, nice GAP at 15c from memory that needs to be filled on the last run up to I think 19.5c

I'm excited

 

[motorway]

Hey Motorways, love the updates, what do you mean by,

"There is still a little resistance to the left"

I thought the buyer/s smashed the sellers in the market depth late in the day and caught the sellers off guard lol, opened it right up so to speak.


Thank you in advance


Exciting times hey, it's always good to see things backed up on the chart, nice GAP at 15c from memory that needs to be filled on the last run up to I think 19.5c

I'm excited

If you look left there is some congestion at ~ .045
There was some supply there . Price ran up and was Hit.
Buying power was absorbed there
and it ran down from there into the lows.

There was a small trade at .046
But .045 in the main.

Yes Buying was urgent into the close and a base has formed.
Valid Patterns of Accumulation
At the lows , then at that .039/.04 levels before and after. (stair steps down and up ).

Certainly seems to have the "spark adjusted" atm

In liquid financial markets, up to 98% of all the trading can be based on speculative positions and the hedging of those positions. These positions, being
speculative, are temporary, and any opening trade will need to be closed.
The closing trade has the effect of inducing a price reversal.

Due to the duality of the opening and the closing trade, the price movements are never fully one sided. At some stage, sooner or later, positions will be closed
and then the price rebounds will occur.

So the behavior of any who were locked in at ~ .045
10 mil shares maybe



Motorway

 

[Bassyabbie]

There's our confirmation, should go BUNTA in next couple of days leading up to at least 3 company makers over due possibly to be announced over next 2-4 weeks with first next week more than likely IMHO with the Chairman Richard Li's return from China & Hong Kong.

If anybody is wondering, I'm a top 20 shareholder here,

Went to the AGM,

Am in constant touch with the board and other Top 20 shareholders FWIW, speak to a few in Top 5 lol

So just putting it out there peeps

 

[Joe Blow]

There's our confirmation, should go BUNTA in next couple of days leading up to at least 3 company makers over due possibly to be announced over next 2-4 weeks with first next week more than likely IMHO with the Chairman Richard Li's return from China & Hong Kong.

Specifically, what "company makers" are you referring to you and when did the company indicate that these announcements would be made during the next two to four weeks?

 

[motorway]

Broken out of the "Correction Channel" and moving UP.

A Very interesting JUNCTURE.

It is where the Population of Interest Could start to Increase . Ideal especially if Supply starts to DRY UP.

Changes in the population of interest is an often overlooked dynamic.
............ Buying and Selling waves gather followings !

Motorway