NBS - Nexbis Limted

[Dugai]

A list of James Mackay failures I reckon could fill an encyclopedia. A list of James Mackay successes is best summarised with a blank piece of paper. If you would like to experience James Mackay, then have a look at the stock charts of Sure Trace (SSTY), True Product ID (TPID), Biofield (BZEC), Versacard (IGLB), Net Command (NCDT), and many more, "ALL" have ended the same way. His companies are imo are no more than pump and dump schemes and scams touting products that do not exist, prospects that are built on fantasy and contracts that never earn a cent. His latest offering via. Filligent Ltd, is a biomask that kills swine flu upon contact... absolutely crazy.
filligent.com/public/index.php

The histories of SSTY and TPID are especially important for Nexbis, given that they created the venture company, China Inspection True Product (CITP), that Nexbis has partnered for the purported China contract (see SEC filings from TPID, SSTY).

I'd really like to know if anyone has been able to verify this claim by Nexbis/ETC, because I haven't (interestingly TPID made a similar claim with their alleged S-DNA anti-counterfeiting technology, except I cannot verify their claim through AQSIQ either):

"December 05 , 2008
Technology Licence Agreement for China National Gas Tank Project
Entertainment Media & Telecoms Corporation Limited (ETC) is pleased to announce the Technology Licence Agreement (TLA) to supply the NexCode Security Suite for the China National Gas Tank Project for the General Administration of Quality Supervision, Inspection and Quarantine [AQSIQ] of the People's Republic of China is now unconditional.

Under the terms of the TLA, ETC will provide its unique award winning technology for the purpose of customer authentication for the China National Gas Tank Project for an initial five-year period, with an option for an additional five-year extension.

It is estimated that there will be 150 to 220 million individual purchasers of gas cylinders in the People's Republic of China over the next five years and every customer will be required to have an identification card which bears the NexCode technology."

I can't find a single release from AQSIQ of such an intention or any dealing with Nexbis/ETC/CITP or any word of a China National Gas Tank Project or the issue of a licence for the use of NexCode.

Catalogue of Industrial Products Subject to Production Licensing Management:
No.61 - Anti-counterfeit technical products
Enterprises Granted National Production License of Industrial Products:
68,867 licences issued and current.

aqsiq.gov.cn/search/gyxkz/

english.aqsiq.gov.cn/NewsRelease/

english.aqsiq.gov.cn/SpecialTopics/GeographicalIndicationProductProtection/ProductsunderGIProtection/

...etc.
The system appears transparent and you'd think it'd be no trouble to identify a relationship between AQSIQ and Nexbis, but alas...

The whole thing to me smells of a scam and Nexbis is either wittingly or unwittingly is part of it. If this is the case, then Nexbis shares are worthless and currently trading 20c too high and with a market cap $100mil too much.

Here's a nice news feature story detailing one such scam, if you're not sure how stock market scams work then definitely read:

"It was all a big lie, expert says he knew then"
"Invention was too good to be true"

news.google.com/newspapers?nid=888&dat=20070701&id=VMYNAAAAIBAJ&sjid=knQDAAAAIBAJ&pg=6841,44797


And if you dig deep enough into this mess, you'll find that the Kovar family were also business partners to the same people Nexbis has partnered for the alleged China contract. (Check press releases/SEC filings of Satellite Access Systems/Corsaire inc/Net Command)

disclosure: I do not own Nexbis shares nor am I short on this stock. Just keen to see how this story (aka scam) unfolds.

 

[ectoplasm]

The bad wrap for NBS over many stock forums appears legendary!

It is an early call, but I think company fortunes must be turning around ~ at least the daily chart appears to be soon ready for a bounce

Daily chart:

 

[luckycanuck]

And now it looks as though there has been a capital raising at 15 cents with the proceeds going towards acquiring stakes in TrustDefender and UKI.

I'll be keeping my eye on this one to see how the market reacts. Their statement said the instituitonal capital raising was over subscribed.

Is this a masterstroke? Is this piling on more problems to a problematic company? Is it something in between?

And yes, I do hold shares in Nexbis. I've not been able to work out whether their drops have been realistic or an overreaction.

 

[Kuri]

This company's management continue to frustrate me. There are questions being asked left, right and centre regardin the validity of their Chinese contracts, the market leaked the collapse of the Malaysian contract before mgt admitted it and now they go and aquire another company and implement a capital raising after saying how much cash they have. In my opinion this has to be a distraction from the problems the company faces. I am a holder still mainly because the price has dropped so much it is not worth my time to sell.

Also the SPP will not raise them any more money as the SP is the same as the offer price and if people do take it up there will be so many new shares on offer that the SP will tank the day they are able to be sold.

I hope this company amazes us all and turns out to be a winner.

Kuri

 

[lizard]

I hope this company amazes us all and turns out to be a winner.

You have to be kidding?! I hope ASIC amazes us all and actually does something about them.

If you're stuck holding these things, best just hope they plan another pump contract win and forecasts when they recirculate the money raised and let their institutional investors out. (Just my opinion).

 

[Kuri]

You have to be kidding?! I hope ASIC amazes us all and actually does something about them.

If you're stuck holding these things, best just hope they plan another pump contract win and forecasts when they recirculate the money raised and let their institutional investors out. (Just my opinion).

One of the things that gives me hope is that large companies with smarter people than me working for them such as Orbis keep buying into this company. Thay must do due dilligence and see something. Also they have just secured near 10 million dollars of funding in what is still pretty tough credit conditions.

If anybody has any thoughts on why that would be very helpful.

 

[Dugai]

well, there ya go Kuri, Orbis have started selling their stake and didn't participate in the institutional raising.

 

[ROE]

One of the things that gives me hope is that large companies with smarter people than me working for them such as Orbis keep buying into this company. Thay must do due dilligence and see something. Also they have just secured near 10 million dollars of funding in what is still pretty tough credit conditions.

If anybody has any thoughts on why that would be very helpful.

Follow the herd you get the herd return , why do you think Orbis is better than you or some more knowledgeable person on this thread ? just because they are a fund and has people working for them?

they could have some real stupid fund manager who splashing money around without much consideration and after all it's not their money it's fund investors money so they can gamble and has very little to lose apart
from their bonus fee

 

[User Name]

its going to be interesting to see how much money nbs raised with regular shareholders under their SPP and if they proceed with purchase of UKI?

 

[craigj]

could the directors run this co any worse
seriously the co has cash and cash flow
now the capital raisnig will have tofall flat
what price the shares when they get mass off loaded ?

 

[FredNerk2]

IS UKI Deal Dead?

I would appear that this easy handball and 90M Valuation from NBS is stale or dead or both

In my opinion I agree with prior concerns posted by mastatrader,

Have had company dealings with Anthony Dunlop previously, Due Dil was not fun nor easy, still recovering from it

Any news here? thanks

reply privately to me at this forum or post a reply on this thread

For record I Do Not have any shares in any mentioned entities ...
Do not rely on this posting for any financial decisions