You obviously know nothing of the history of GPN and related companies, William.
Losing money isn't the issue here. It's all about the antics of certain directors and their collusion with others at the expense of genuine investors. Just because a company has a low sp doesn't mean the same rules shouldn't apply to them. These are publicly listed companies with people entrusted to manage them for all shareholders.
ASIC has its hands full trying to keep up with complaints against many directors who treat smaller companies as though they own them. The shareholders own the companies and expect the directors to act honestly, after all they are being paid to do just that.
I've made money and lost money on many companies in the last 20 odd years. I have no problem with investing and losing, only with what appears to be dodgy deals that sometimes occur.
If you bought GPN at .004 well good on you Mr Psuedo Chinaman, but that's totally irrelevant as to whether a board's action is honourable or not. Share price has very little to do with it, or at what price an individual bought in at.
I will use ASIC any time that I consider there is enough evidence to prove any suspicions I have. And it isn't to get back losses either. I accept that I sometimes invest in companies whose board can't be trusted. That's my loss and am happy enough to wear it. But I won't just let them get away with it without bringing it to the attention of the appropriate authorities.
I reserve my right to fight back against the unscrupulous and dishonest. I raised concerns with ASIC about the previous board through a formal complaint and now it is up to them to investigate and make a determination.
If you are happy to take a chance on many penny dreadfuls, that's fine. Many people just take a chance and invest in a few and hope. Sometimes it pays off and other times it won't. The difference with GPN for me and some family and friends is we identified the potential a long time before Scook and his puppets diluted the buggery out of it and it's spin-off YRR. That rendered much of our investment worthless, therefore we have the benefit of watching it from close range over a 4 year period and have a very good understanding of what has transpired. That's much different to just throwing a few grand at a cheap share and hoping it spikes so we can walk away with a tidy profit.
It's from this perspective that I have filed a complaint with ASIC and will continue to keep a close eye on what's going on.
I hope you make money out of GPN but that won't determine in any way whether there has been any wrongdoing at board level. So you miss the point completely of my previous posts WSS. Good luck anyway.
GPN
greater pacific gold limited
