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.
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 $10k per year. I know sellers all over the world at these four online sites as many of us were getting our stock at the same suppliers, competitively. Strawberry CANNOT even carve out a niche to compete, fail.
At most it will, would, operate short term and fold.
Stop being a #$%$. The forum is here for bashing a bad company just as much as it is here for giving praise.
If I buy into a company and it turn out to be bad then, as a small investor, it is my duty to warn other small investors.
If this stock is still traded after I have sold then I will still warn other investors. Likely I will hold it forever to remind ,me to NEVER AGAIN put money into an Asian stock.
It should be liquidated with the remaining cash going to stockholders.
Look, AH, you do understand how forums work, right? If "any fool" here needs to #$%$, it's you.
I have been holding GIGM since mid 2009. How many "make us rich" products has GIGM rolled out in that time?
Who here thinks that if GIGM were to have a successful product that it would sell that product to the Woo family? Perhaps even Strawberry. Buy or build a product high and sell low to Woo?.
This one kind of reminds me of XDSL which would come out with new products every so often that was going to make everybody rich. It still trade today, around .0001, and still promises riches.
GIGM is Monty Python humor at it's finest. No arms, no legs and hollering "Come back and fight".
resident1155 yaps: "Some really ignorant people voting no on here. Do they honestly think that any corporation is just going to liquidate everything and "give the money back to the shareholders"? Seriously, don't be so naive."
Well come on back in a few months if this fiasco is approved and I am sure someone will be waiting with a "I told you so" after it's failure. Probably, you will not show back up and if you do it will be "Where did all our book value go?"
It will likely pass but my message to these idiots on the BOD has been sent. By proxy vote and by email in favor of liquidating the remaining GIGM assets.
Of course the votes are there and Woo runs things. The company says so.
But I am still voting AGAINST.
"This will give management time to to work out a strategy."
LOL, it most likely means that GIGM has plans to sell more shares. Didn't they sell $18 million worth back in March?
What idiots? I've been holding since mid 2009 looking for an exit that I can live with. At today's close I am looking at -66.32% (66.32) on my GIGM. Averaging down to about nothing is still a loss with this one.
doneatforty says: "Please, give me a break."
Oh you need a break alright. I'm holding GIGM since mid 2009 but I also want some honesty from the company.
GIGM has very little credibility EXCEPT they warned us in the 20-f filed 04/28/2015 as to who actually controlled the company.
They covered their own bases with DD warnings and let the US investor down.
Yep, GIGM told us about how the cloud start-up would take a lot of equipment and funds. Now they take the funds and run with cosmetics?
BTW, your post may or may not last the day before certain pumpers delete it.
No one wants GIGM to succeed more than I do as I have been holding since mid 2009. But let's be honest:
From GIGM 20-f filed 04/28/2015:
"We are controlled by the Koo family, which has significant influence in determining the outcome of any corporate transaction or other matters submitted to our shareholders for approval, and their interests may conflict with your interests."
"There can be no assurance that we will regain compliance and continue to meet all of the requirements for continued NASDAQ listing. If we fail to comply with the minimum bid price requirement, our Shares could be delisted from NASDAQ, which could have a material adverse effect on our stock prices and our standing with current and future investors."
doneatforty, it's not all about a 6-K but also about credibility. The company touts Strawberry, it touts about ClubOne, it touts about the cloud, it touts about "Three New Games in the United States", it touts about "Performance of the Games" and etc, and etc,.
Research each one and see what success they have followed up with.
Plus, from all indications Strawberry is a ripoff site accused of selling fakes.
The company will not keep investors informed. The company only files with SEC because it has to due to law. Investor relations silent and does not respond to emails.
It is to their benefit, evidently, to allow US delisting so that they can buy up remaining US held stock for a few pennies and exit the US. If that don't kill the company then laying out the remainder of cash on the worthless Strawberry will.
This is not the only Asian stock that I have owned. It will be the last.