I agree I mean...I seriously doubt they would do a RS to meet nasdaq requirements because it has the potential to destroy not only the value of our shares, but the CEOs shares as well. He's not immune here...and he's already in the hole about 30%. How much does he own...about a million bucks worth? That's not chump change.
Done, I'm curious, what kind of check did you get as a percentage of the shares that you owned? I know it's company specific, but just curious to know how it played out.
I have owned two stocks over the years that have dissolved and sent out checks. It is rare but it does happen. Obviously GIGM believes sstrongly enough that they can make Strawberry work that they are willing to bet $93Million on it working. If the insiders did not own any shares I would think they nust want to keep getting a paycheck. In this instance the CEO has a lot of skin in the game.
About Leadis Technology, Inc.
On October 23, 2009, Leadis Technology’s stockholders approved the Plan of Dissolution of the company, which provides for the complete liquidation for the company under Delaware law. An initial liquidating distribution was made to stockholders of the company on December 14, 2009 in the amount of $0.95 per share of common stock. The company may make one additional liquidating distribution prior to winding up its affairs under Delaware law, however, the specific timing and amount of any future liquidating distribution(s) is not yet known.
Sentiment: Strong Sell
Stock is down 24% since this deal was announced.
Gigamedia website IR page has nothing at all about the deal.
Let's hope they fail.
Should read Koo Waste as in Koo family. This latest fiasco, Strawberry, should finish off GIGM.
The family, knowing this, probably already has another company in the works to draw US investors for it's next fiasco. For Asia, there's just nothing like taking US money that will not be repaid, ever.
"Andre Koo said he hoped to have Grand Pacific listed on the local bourse and Chailease International Finance Co , a subsidiary of Chailease Holding in Shanghai, listed in China, in the next five years."
LOL @ resident1155.
You do understand how we do free speech here in the US.
Opposition to the Strawberry fiasco is not as sweet as you might think.
Sure, if the Woo family wants it then it will be done.
Here you go again with liquidation...no public company is ever going to liquidate and "give it back" to the shareholders. Are you nuts cuatro? Stop posting this garbage.
I agree with your assessment. I too would vote for the dissolution of the company. Ask yourself though, why would they give up their sinecures? Management is paid great salaries and it virtually does nothing to justify it. I voted my shares NO to the acquisition. I can only hope other shareholders have done the same. If the sale of Strawberry does not go through, I'm sure that the Koos will figure out another "one-in-a-million" venture that the muppets on GIGM's management team will be 100% behind. Unfortunately, I don't envision us shareholders getting a penny of whatever equity GIGM has left.
It makes me laugh that others on this board expect posters to submit alternatives of being successful in the business. Sorry dude, MANAGEMENT, INCLUDING THE BOD, IS PAID BIG BUCKS TO FIGURE OUT THIS STRATEGY.
These muppets are a complete failure and I look forward, notwithstanding my heavy position, to them being kicked off the exchange...PERMANENTLY. These types of frauds can stay in Asia where they belong.
Sentiment: Strong Sell
Personally, I always thought "Archeage" was a kickback scheme to wildly overvalue (100x+) one of their friends little projects. Ultimately, gaming is incredibly hard, fickle and ultimately even Blizzard's world of Warcraft is suffering huge. There is almost no hope for casual games unless the platform literally forces the games into people's faces through something they use daily. GIGM is just a failure. Their 93million giveaway is likely to associates for more kickbacks. Of course they should nix this little scam takeover.
For those still interested -ERZA is suppose to be interviewing CEO this week and asking questions on Strawberry and GIGM-says she will be posting it to her blog-she references old ties to Seeking Alpha-might want to periodically check for a posting to her blog. Reference Market Pulse to inquire.
dhn, I am assuming they did most of what you are talking about. The Strawberry decision is the future of the company. In reading the filing I am under the impression they are planning on selling off gaming and the cloud business.The CEO has $1.5 Million invested in GIGM stock. I don't think this was a snap decision. If they cashed everyone out at $1.50 those with the most shares would benefit the most. Don't get me wrong, I would take the $1.50 and move on. I just don't see that happening.
I cannot disagree with any of that.
Professional casino gaming companies such as IGT, Bally and a host of others already has the edge on both, social media and online gaming where legal. Gigm cannot come up with anything that remotely compares to those.
If GIGM were to be successful in cloud then they would have to be most dominate in their region, are they?
Basically all GIGM has is OUR MONEY. To see what they intend to do with our money we can only look in the rear view mirror to their past.
I want my money back and to get some of it I can only look at what they have left of it and have yet to spend.
Liquidate and give what's left back.
I sold on Amazon, eBay, Half and Bonanza. My one-man-operation gross sales were around $5k to $6k per month with postage shipping costs about $10k per year. I know sellers all over the world at these four online sites as many of us were getting our stock at the same suppliers, competitively. Strawberry CANNOT even carve out a niche to compete, fail.
At most it will, would, operate short term and fold.
First I would nix the Strawberry Purchase unless the CEO with detailed analysis could provide detail on the purchase price supporting in appropriate analysis the value of the company as well as the additional value to GIGM with supporting comments and sources as to effects on net profit current and future net profits. If he cannot support his position the company has 93Million available to market and promote it's Casino casual games to not only casual users but to gambling concerns. This would not limit it's ability to grow it's cloud business which also could be promoted outside of Taiwan not just by Koos Leasing that progresses at a snails pace. It also maintains 1.70 of share cash for each stockholder regardless if no amount is spent.
Second, I would through Forensic accounting, and through solicitation by agent search for interested parties in the Cloud Business and the Gaming operations and whether in parts to be sold, partnerships to be beneficial, a full disclosure through experts on analysis as to value of going concerns would be made. After determining the aggregate as to value of the going concerns in addition of the 93M or 1.70 cash per share, I would place a motion with the BOD for stockholder approval or disapproval for liquidation of operations that are not ion the benefit of stockholders.
These are generalizations that are subject to change with specification in opaque financials not apparent in managements surprise proposal, having currently claimed earning and stockholder value to be growing in existing operations. The bottom line is that instead of throwing money at what appears is a dream our management and BOD would conduct themselves in a business like manner reflecting due diligence to shareholder equity. Donaforty- specific proposals would be more forthcoming if disclosures had been made. For example I still do not understand why Archeage licensing for Taiwan, Singapore and Hong Kong was written off entirely .(promoted by Tencent in China
I remember him as Sheezey McSleazy. Ranting away. The funny thing is when Amazon was at $100 he used to go on and about how it was worth $50. Now Amazon is over $500. Listening to that fool is a danger to your wallet.