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igarcia1055

97 Posts.

30/10/14

08:26

Post #: 14204808
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Originally posted by Katoom ↑

"recent sell off a great buying opportunity for investors and a great trading stock
only 1.2c
multi bagger"

Can you please explain why you think this company will become a "mutli bagger"

You do realise they actually have no income now at all after selling the once much applauded and celebrated Permian Basin and only 1.4m in cash.

Have you actually read the FY14 report?

Here are some key points from it.

For 2014 what happened in the fast is been long forgotten we always buried the fast and look for the brightest future in business nothing is sure if you want to dig the fast this is only one of the many company who has a murky records but they are still operating what does it say. they survivors tough and resilient for me they have a chance to survive caused they are still there and keep trying
Sales 1.3m
Loss from Sales (3.4)
Discontinued operation cost from shutting down Permian Basin (20m)
Net Loss 23m

Sold Permian basin for 544k (wow can't remember what they paid for it but after all these years of broken promises what a complete failure, SG should be banned from ever running a company again)

Total Assets 3.7m
Total Liabilities 4.1m

Cash on Hand 1.4m

(413,304) TECHNICALLY INSOLVENT

Convertible Notes series 3 (Still diluting investors at staggering levels) You do understand the Convertible Notes Shell Game and what it means for shareholders?

So basically good old GGP has sold out its operations in Texas for a massive loss, ceased being a O&G company now to reinvented itself as diamond prospector and exploration in Mozambique. (what a surprise).

If they only have 1.4m are now in a country and industry they have absolutely no experience in, how on earth do you expect them to become a multi bagger from here when they are still raising funds via only means left Convertible Notes.

And they are just an explorer, I could buy a lease in Africa, get the consents start a corporation and call myself a diamond prospector/explorer. How many years do you think it would take to go from diamond explorer to diamond miner? Where the money going to come from for a drill/exploration program in Mozambique? Or are management going to dig the holes by hand? More convertible notes?

This company is just a empty shell, it should of been delisted long ago even while it was still GGP, fact that it has reinvented itself under a new name is just a disgrace and is a prime example on the ASX today of everything that is wrong with penny dreadfuls. Infact this company is even sub that level of risk, boarderline being a out right fraud, still making promises they will never have any hope of delivering, still selling a fairy tale story, still taking investors money from investors who should of done more research.

"Multi Bagger" Nope never will be, probably out of all the rubbish stocks on the ASX GGP-OGI is one of the worst of them all and has absolutely zero chance of becoming a multi bagger.

Now this company is back to it's old tricks see I'm going to have to start posting here again.

Kat.

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OGI Price at posting: 1.2¢ Sentiment: None Disclosure: Unspecified
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