The pump&dump allegations are ridiculous. Bashers are taking advantage of the sentiment related to chinese dilution companies like Sino Forest.
GRO has it's issues, but there is no dilution > 50 million in cash, a >50 % stake in PGW and long term growing business perspectives.
Read the 20-F SEC filing that was published just 3 weeks ago and do you own DD based on facts not on false allegation made by bashers and an underperforming jerk named Peter Schiff.
Pump and dump is a fact, as it already happened. NIA members bought in as high as 1.58 and are already way down, plus they paid a grand each for the privilege of being scammed. NIA founders made out like bandits selling the shares to their members that they purchased for their own accounts over the past few weeks at about 90 cents a share. Schiff was 100% right.
If you read the 20-F, you'd notice their $50m in cash is not nearly enough to cover the NZ$143m purchase of the remaining 31% stake in PGW that closed AFTER the latest 31 Dec filing and therefore was not in the consolidated financials. You should also notice that their investment in PGW is down 40% from what they paid for it. You'd also notice that the Chinese subsidiary that owns PGW is only 80% held by GRO and the rest by other investors. Further, you would notice the tangled web of subsidiaries that would make this a prime target for a muddy waters report.
The reason Muddy Waters would not be interested is the share price is way too low for them to make money on shorting.
Also, GRO hasn't been announcing super rosey PR, in fact they rarely issue any PR.
The profile of the companies that Muddy Waters hits are the ones who's stock prices have soared and the PR is super hype.
good buy mate! I'm sure, you will be more than happy with that.
Just look at cash and one major stake in PGW
- current cash position: 50 million USD
- PGW stake: > 150 million USD (PGW mc = NZD 360m)
that is 200 million alone for these two positions.
Now look at GRO market cap.. ;-)
The figures in the 20-F report show that they are on the turn of making money. This has to be confirmed and once it is backed up by more frequent information / filings this will be a double digit stock with even the people buying the ipo @17 $ making profits.
I will hold my shares until the first dividend is payed out.
The bashers desperately reposting this Schiff-video is another good indication of what is happening. I had some respect for Peter Schiff but lost it completely. He doesn't look good trying to become another Carson Block joke.. lol