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2.0¢ freedom insurance group ltd

Ann: Business Update, page-28

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Ryphil

4,382 Posts.

29

03/11/17

14:57

Post #: 28479453
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Originally posted by kovey ↑

Charlatan's or decent insurance company directors/managers? Leave it to you to decide. The first year sp was jacked up based naturally on optimism, hype, hope, and trust till proven otherwise. Barely have we entered the second year the true color is revealed. Given the unfolded scenarios since the escrow shares were sold I find it extremely hard to trust these guys. All indications point to likely insiders deceitful behavior towards outsiders- the insured and share holders alike. Reading in between the lines of the so called "Business Update" I get the feeling there's more pain to come. The sp could slide to $0.40 next week if the market isn't reassured. If that happens all hell will break loose and then panic sets in for the final act of INSOLVENCY declaration. You may read this as a Doomsday scenario but don't forget this is a newly floated Insurance Company and it could evaporate into thin air in a matter of weeks like others have before. Hope I am off the track by a large margin even though I haven't been in the past.

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how do you go insolvent if you have net assets in excess of $50m and making almost $20m profit per year? my guess is you're shorting this stock

FIG Price at posting: 46.5¢ Sentiment: None Disclosure: Not Held
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