This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

GCN - GoConnect Limited

Jump to new
Chasero said:
Just wondering,

Is it possible to find out how many shares a company has issued?

And how many shares a company has issued in the past year?

Another forum says GCN has 6 billion shares on issue? That can't be right..
Click to expand...

Data from Comsec. You will have to fix the formating yourself.

Year 2002/06 2003/06 2004/06 2005/06 2006/06 2007/06 2008/06 2009/06 2010/06 2011/06
Shares Outstanding (m) 310.8 320.2 358.5 371.5 389.1 411.8 443.7 491.4 766.0 843.7

Today 929.3
 
McLovin said:
Out of curiosity, why is it interesting?
Click to expand...

From memory, in the past year, they did 2 capital raisings? (someone correct me if I am wrong)

With that many shares, I'm sure quite a few people are in @ 0.005. don't know how they managed to get people buying in at 0.06
 
skc said:
If I was valuing a single corner store, do I factor in all the other street corners they can potentially expand to? What about other product range? Hardware? Fashion? Makeup? Cars?
Click to expand...

Why would you not take into account what is in the announcements ?

If I said I was opening one store value = one potential store I agree.
But what did they state ?

some examples

ASX Release 11 July 2011
GoConnect to represent Netbay Internet in advertising sales to WiFi hotspots in
Australia
Click to expand...


I never saw an intention to roll out just "one corner store"

But many.

..Sure you would have a range of value. depending on one none or many.

If the announcements said just one . Then only use one !
But they did not say just one.. So you should do a range of values.



Lets Not forget as I stated in earlier posts

The Big Picture.

Such massive demand and so urgent
exhausted itself .. Too Many Weak HANDS

Gorged and Satiated !

Many I would guess are feeling a bit sick
even some revulsion..

Over Blown Expectations as to timing.
And significant DELAYS by the company..

Still if we look at the action from a larger degree.
There is a certain Symmetry.. ( remember the chaotic nature of starts )

Nothing like Demand to cause a down move .
Same when that Demand becomes SUPPLY to cause an UP move.

We had a massive JUMP with extra extreme volume
Ever since grinding down and out.
Delays have fed into that.
But mainly peoples own actions sow the seeds.

Massive JUMP
Now a BACKUP right back to ( and it is a BACK UP IE is is CORRECTIVE )

How Far ... Is .03 it ? maybe .028 ? .026 ?

We had very high volume and duration at .03 today after significant dullness
no selling into the close.




Motorway
 

Attachments

  • GCN bigpicture 28 feb 12.PNG
    21.2 KB · Views: 69
  • Precursor Catching Up.PNG
    49.8 KB · Views: 1
Half year result out. Despite making almost no sales the company has $4.5m in intangibles, what a laugh!

Take out the intangibles (of dubious quality) and the company has negative equity of ~-$4m.
 

I don't disagree and I never said GCN's valuation should be limited to one WiFi location. I merely worked up a framework for assessing possible cashflows from the first station (just in case people were looking for millions of revenue in the current quarter), and I said the individual investor can decide for themselves what value to put on future potentials, taking into account factors such as management and financial capabilities.

McLovin said:
Half year result out. Despite making almost no sales the company has $4.5m in intangibles, what a laugh!

Take out the intangibles (of dubious quality) and the company has negative equity of ~-$4m.
Click to expand...

Would you stop living in the past! It's all about the future!

BTW - a bit of information on P1 to those who are interested. GCN seems to have forgotten to announce this...

https://www.nzx.com/companies/INS/announcements/219618

It used to be a cash injection of $200k but now it's just swapping paper with paper between one unlisted entity to one listed shell entity. May be it's not important.
 
skc said:
Would you stop living in the past! It's all about the future!
Click to expand...

Interesting time fellows.

Yes the Half year
is really OLD NEWS

And it is about the future.
But that will look after itself

It will be what it will be.

IE the chart has pulled right back retracing the entire move
So many will have lost a lot of money. Not Nice !

Put that down to expectations and the delays.

eg P1 talk of by June now.

Motorway
 
This stock reminds me of a lot of Metricom..

Retrace and sideways movement after rocket move.

If it follows metricom we'll see a range between 0.02 and 0.03.. then it'll bottom and slowly rise again

Cannot predict the future of GCN sp but it's nice to know how other companies have traded like after huge bursts.
 
Chasero said:
Retrace and sideways movement after rocket move.

we'll see a range between 0.02 and 0.03.. then it'll bottom and slowly rise again
Click to expand...

imo==> A large Corrective Move To kill all the short term longs.

To note now is the line of Nineteen .027s and tentative and early rising supports.

Count the Implications and note that in this "last column down". The horizontal formations are all one below each other ( So FAR ).

What has been missing to ( possibly)
Start the new Trend ?

A Sign of Strength !

Most look to Externals
When what matters is the Internal.

We could see a significant thrust of a 3 or more Reversal or we could see
The "Horizontal Formations" start to form one above each other ( unlike the unbroken run we have had of one below )



As long as it lives ( IE the fluctuations Fluctuate )
The Technical Position is what matters.

260 million shares traded in this move down !

Edit-- "unlike the unbroken run we have had of one below "
Or is this behavior already changed ?

Motorway
 
I may consider buying in at low 2 cents..

And closer to announcement dates. i.e. April-may and towards end of the year.

buy the rumour
 
Chasero said:
I may consider buying in at low 2 cents..

And closer to announcement dates. i.e. April-may and towards end of the year.

buy the rumour
Click to expand...

That's a good approach to capture any upside... but how do you protect against the downside? It's not like there's a definite deadline on a takeover due diligence or something like that. They could easily announce anyday in May that P1 is off and you will have no floor under your feet.

On a separate note... would someone like to find me a ~$300m company that operates out of a serviced office?

Hint: This company also does not have a website.
 
skc said:
On a separate note... would someone like to find me a ~$300m company that operates out of a serviced office?
Click to expand...

I'm more excited about finding out who the did the "Independent" valuation.
 

Can't protect against unexpected announcements.. comes with the risks.

If trapped long, have to look for best exit.

Buying the rumour... i.e. postive anns usually works out better because people are "naturally bullish"
 
McLovin said:
I'm more excited about finding out who the did the "Independent" valuation.
Click to expand...

It doesn't matter. What matters is the assumptions and disclaimers used.

Here's a valuation report done by BDO Corporate Finance for SSI (the old parent and still good friend of GCN) which gave SSI's China gaming rights a value of $788 to $905m. SSI has been suspended from Aug 2010 with a market capitalisation of $19m

http://www.sino.com.au/pdf/Final_Report_2008_02_27.pdf

BDO Kendall is a very large and reputable firm... over 48,000 employees and 1,118 offices worldwide (from Wikipedia).

But here's some of the disclaimers I found interesting from the report (p.14).


Now a valuation done using management-supplied financial projections would not be what I would call "independent". Yet according to SSI this was an Independent valuation...


So it doesn't matter who did the valuation. In fact, if GCN was to release the name of a legitimate accounting firm, the share price might make a run (albeit 20 minutes delayed as most people buying this are amateurs with no access to live announcements), but only to be sold down soon after as the insiders continue their exits.

BTW, just to clarify my views on GCN. I actually think that the ad-supported Wifi may be an opportunity. My doubts here are simply on the returns that can be generated, and whether GCN has the expertise and financial capability to win in the market.

But with P1 I have strong suspisions on its actual legitimacy... any punters who invest on this basis should do their own careful due diligence.
 
I see. So they're really just trying to almost hold the valuation out as an experts review rather than a tightly framed internal box ticking exercise.

I disagree on the WiFi thing, I don't think it's got a chance of ever making money. To me it seems the same as those business models that were around 12 years ago, offering ad based free dial-up internet. There's enough free wifi sans ads in the major capital cities and that will continue to grow.

http://www.freewifi.com.au/listing_...gion_id=27&listing_type=free&formSubmited=yes

According to that there are 165 free or free with purchase WiFi networks in the Melbourne CBD. I just don't see who is going to be using an ad based one.

I'd put money on this thing never making a cent.
 

I don't know how the economics have changed over the past 12 years, but I'd imagine that costs (in hardware and data transmission) have come down a lot, while the advertising revenue has probably come down a little as well. While I've made some approximation on the revenue side, I simply don't have the data on the cost side.

Another thing that I don't know is how the ad is actually delivered through the free wifi. You can't put the usual banner / video through the web browser, and you can't really use something that takes up part of the screen (the iphone screen is small enough). Any method that requires the user to download an app (or program etc) may be too much trouble for most.

It would be simple enough to do a sign-in type screen where you can do some display and video ads on the webpage . This may give them the real estate space to display more than one ad per login (say top+bottom banner plus two sides and a video overlay - again getting pretty cramped for iphone), but each login session will then only see one set of ads, as opposed to being shown more ads the longer you stay login (which sounds more fair and acceptable).

Not something I'd invest in, but at least it has potential to be a real business (which is a really low bar I know).
 
Looking at their financials, haven't really improved much from 2010..

Trade & other payables 2.5m??<--- Big turn off right here.

The thing I don't like about these spec companies is they do not give earnings guidances, so there is nothing to judge them against from year to year. (hence why investing in gold companies is a lot easier imo)

Their statement of cash flows also not rosy looking.

Though possible projects and potential is there?

P1 expected to list in May - June??! (other forums are saying this is not possible?) Thoughts?
 
Huge selloff today..

down to 0.024....



Too risky to enter, need to see signs of a bottom first. Might reach 2c.. or even 1 c possible?
 
Chasero said:
Huge selloff today..

down to 0.024....



Too risky to enter, need to see signs of a bottom first. Might reach 2c.. or even 1 c possible?
Click to expand...

Might is not a useful word

lets see what does happen
and what the signs of strength or weakness are.

In flux atm

Instability !

We have the appearance of significant weakness. An you would have to go with that atm. But it is in process still. When I say significant weakness , I mean the most significant in ages . Real Sign of Weakness ...

But it is at the Bottom of the Hill !
Ever been in a Billy cart as a Kid
It gets scary as it gets fastest.

And at the fastest
IS the Bottom !

Real Interesting atm

Motorway
 

You're a perma bull in your analysis. What would it take for you to exit?
 
You must log in or register to reply here.
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...