As outlined in the explanatory memorandum accompanying the Notice of Meeting dated 15
February 2008, the capital reduction and in specie distribution of GoConnect Ltd’s shares will not
be effected until the Company has received the shareholders’ approval as well as the favourable
rulings from the Australian Taxation Office (“ATO”).
We wish to advise that the ATO is in the process of reviewing our application for private and class
rulings in relation to the proposed capital reduction/demerger and we are waiting for their
determination.
In view of this circumstance, the Company has decided to defer the “Ex Return of
Capital Date”, “Record Date” and “Distribution Date” and they will be reset once we receive the
rulings from the ATO. We will advise the market of the revised timetable for the capital reduction
and in-specie distribution after we have received a determination from the ATO.
GoConnect Ltd (“GoConnect”) is pleased to announce the signing of a Memorandum of
Understanding (“MOU”) with Beijing’s Hope Software Co Ltd (“Hope”) to establish an equal
partnership in order to cooperate on the development and operation of a Business-to-Business
(“B2B”), online networking platform, for both businesses within Mainland China and
international businesses targeting China.
It is intended that this platform will become the
“Facebook” of the business world in China. GoConnect has already been developing an
online portal, www.bguanxi.com to establish this business.
The portal will be a B2B market place to promote networking between businesses, allowing
them to expand contacts and build relationships within a business environment. This will also
allow business people to provide and access personal information, business and product
information.
Hope, a substantial IT company based in Beijing China, with over 1,500 employees, is a
company soon to be listed on the Shanghai Stock Exchange and is a subsidiary of the
Academy of Sciences (“ACS”). The ACS is the pre-eminent state owned IT, scientific, and
engineering research institution of China, while Hope has a 20-year history and is
experienced in public service, government relationships, and IT research and design.
Working with over 200,000 of its national distributors, suppliers, and customers, Hope will
provide the initial Chinese business user database, which is integral for non-Chinese
businesses to ease their entry into the Chinese market.
So far, so good. Buy side is building without being immediately sold down. Volume still low though, but at least there seems to be somewhat of a market now.I've been very patient with this one but it is frustrating that the little bit of demand to tip the balance has only appeared now (last time was at $1).
Now let's see how this plays out.
While China is undecided on whether to legalize more forms of gambling on its territory, it is also facing a virtual enemy, which takes the form of counterfeit lottery websites that threaten to undermine its entire lottery system. In order to vanquish this foe, the sale of lotteries on the internet was banned in China at the beginning of 2008. According experts, the move stemmed from online security problems, which made it difficult for buyers to distinguish between legal and illegal lottery websites because some counterfeit sites mimic in appearance state-run lottery sites, CRI writes.
Despite its evils, the online gambling market presents a major opportunity for the government to fatten its money chests. As yet, no clear information on the future of organized gambling in China has been imparted by the government. However, Researchandmarkets.com says that there have been subtle signs of China leaning towards the possibility of liberalizing the market somewhat to permit additional lotteries, as well as horse racing and casinos.
But in order to allow more forms of organized gambling, China needs to improve the regulation of its gambling industry. This year, China will issue the very first regulations designed to combat lottery fraud, which will be closely based on the experience of other countries. According to lottery experts, the fact that China did things in reverse order by installing a lottery system before putting laws in place to regulate it now presents a major challenge to the country.
If and when this huge country of 1.3 billion people does make the move to liberalize gambling, international gaming companies will be sure to be there - ready to jump in the game!!
due to be introduced by SSLA in April
2008. SKIM is in the process of fitting out the first outlet in preparation for the launch. Our strong
positioning in what will be the first legalised sports betting outlet in Shanghai and based on the size of the
illegal sports betting spend, provides us with confidence that future revenues from sports betting have the
potential to exceed revenues from all other gaming products for the Company.
A further development for the Company was that because of the Company’s operating track record and
number of outlets within our network, we qualified for both a licence to franchise our operations throughout
China and a national gaming licence. This provides us with flexibility as the Company considers its
strategic options for expansion in the future.
Sino Strategic International Ltd (“SSI”) is pleased to announce that its new store at Hong Kou in Shanghai was opened on 30 April 2008. This store has been fitted out to a high standard to be the flagship store for SSI’s wholly owned subsidiary Shanghai Kelo, for the sale of the complete range of Sports Lottery games.
The opening of the store incorporated the launch of a series of new Beijing Olympic themed games and has received favourable local media publicity. Hong Kou has also been equipped to distribute sports betting games.
Is there potentially an increasing "Population of Interest"
regarding this theme ?
Motorway...i've gotta tell you...i love your posts. Very funny
But can you help a young soldier like me...are you saying that SSI has somewhat bottomed out...and is moving in an uptrend? That accumulation took place at the high 50's, low 60's?
Thanks
This note focuses on a pointwise estimation of the Hurst exponent H, and on its reliability as a method to detect breaking signals inside a given financial time-series. The idea is that, although classical H can give information about the average scaling behavior of data, its estimation over proper subsamples of the original time-series can reveal variability which is perfectly compliant with sudden changes in direction that are typical of financial markets.
The behavior of the pointwise estimation of H is then analyzed on different proxies of market price levels (namely: log-returns, squared log-returns, and the absolute value of log-returns), focusing on the relationships existing with bursts in the markets and those observable in such indicators as well.
In this context we find that breaks in the upward/downward tendency of financial time-series are generally anticipated by analogous movements in the estimated H values given on the squared log-returns.
From the general formations on the figure charts we are able to detect accumulation or distribution, and we see, clearly marked, the lines of support and supply.
We can also identify the marking up and marking down periods to excellent advantage by means of these charts.
The most valuable feature of Figure Charts, however, is their horizontal formations, which, (in many cases have the ability to ) forecast .......It is in these horizontal formations, or congestion areas, on the figure chart that we find the greatest aid
It is the change from dullness to activity (regardless of the
absolute, i. e., the actual volume), or the reverse, which is
important; and the manner in which the change occurs. These changes
put us on guard to watch for further indications which will either
confirm or deny the direction of the trend in which
the change occurs.
It seems to us, based on our experience, that Tape Reading is the defined science of determining from the tape the immediate trend of prices. It is a method of forecasting, from what appears on the tape now in the moment, what is likely to appear in the immediate future.
We also wish to impress on you the importance of using your 3 reversal figure chart to compare with your 1 reversal
The methods of determining
price objectives come from the science of ballistics and have been
used in Point and Figure analysis for many decades.
The distance
a bullet will travel can be calculated if the following factors are
known””the size of the powder keg that will propel the projectile,
the length of the barrel, the resistance the projectile will experience
traveling through the barrel, the air temperature, and the attitude
of the rifle.
The best definition describing this science was
written in an Encyclopedia Britannica article in the 1920s.
The
following passage is from the book The Point and Figure Method:
Advanced Theory and Practice (New York: Morgan, Rogers, &
Robertson, Inc., 1934):
Point and Figure Fundamentals
Exterior ballistics is that part of the science of ballistics in
which the motion of the projectile is considered after it
has received its initial impulse.
Yes Motorway, I noticed the turnaround in this one. I might get my money back yet hey? Dog of 07, ??? of 08.
I would say looking very good
$1.30 might be the real "tipping point"
( That could signal a real break out of the congestion zone on the chart
and crystallize the sentiment )
Hi Motorway,
Looking at your chart I think I am seeing consolidation around this level. Do you think people are accumulating stock atm? Or do you think that phase happened around the base of the graph (60 - 80 cent range).
Do you also think that this level it is hovering at now will act as support/resistance in the future?
Your chart seems to suggest that there are not many resistances on the way back up...1.60, 1.80 and the 2.30 mark...correct?
Thanks and I really appreciate the learning curve!
3:56:27 pm $1.10 ( number) 55 (value) $61
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