Ann: Update on Cryptocurrency Exchange, page-108

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benporta

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26/03/19

10:41

Post #: 37883589
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Originally posted by ContrarianTiger: ↑

I think their mistake was partnering with soarlabs. They needed a more established company to work with on something like this. It really should have dawned on the soarlabs management that at some point BPG would need to sell the soarcoins to finance development of the exchange. Seems like an over-reaction to me them freezing the coins and then abandoning BPG to its fate. It is a shame because if they had worked together both companies would have been able to get this launched last year in my view and we would all be much wealthier.

The shares - well they would not be the first penny stock on the asx to issue shares to the management on a large scale. At least this means that the managers own it and they do not have a third party who can run off with the company assets and IP. The fact that they have kept at this for over a year now despite all the problems is a clear sign to me that they are doubling down on this and trying to get it done.

When you think about the repercussions for them if it fails it would be very difficult for them to recover personally, all their partners and financiers would be reluctant to do business with them again and then they would have the ATO and ASIC still chasing them. They must be heavily leveraging their network to have survived for so long - it is the only rational explanation I can think of given their position, I think our management is tough and well connected, whatever other mistakes may have been made.

For me as I have said before I plan to hold, wait and see. Theres no reason why this could not do well if they fix their immediate problems with the regulators and with their debtors for the wine business and find a partner to help them grow the exchange. It is going to take time though. Best look at your other stocks while we wait or otherwise find someone who will buy your shares before tax time!

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”find a Partner to grow the company”
i would like to see them (bpg) partner with DCC, DCC gets to add a crypto exchange to their bow of tricks, and access to Asian market, Bpg gets Dcc’s expertise, authenticity, generate trust and confidence in share holders and crypto traders and the like etc. and guess what, both companies get to make money.
Could somebody please tell Phua to lay aside his pride and approached Dcc management and vice a versa

BPG Price at posting: 0.9¢ Sentiment: Hold Disclosure: Held
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Ann: Update on Cryptocurrency Exchange, page-108

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