GIGM is the equivelant of a empty shell with worthless overstated "business" that is really worth nothing and is 80%+ imaginary.. and maybe $1.00 or $1.10 in TRUE book value maybe less, and thats ALL due to shareholder stock sales in 2000 and the sale of everest. The rest of everything was laundered out by the CEO/CFO who abandoned ship.
another hypeable bounce to 1.50 or 2.00 around the corner? so market makers can unload the 15-20mil shares they were forced to buy since 2009? from criterion and others...
Make no mistake, this POS is an asian scam, but even scams bounce look at XING and others before their death..
Maybe GIGM is worth a trade i dont know, but dont lose sight of the scam, and the BS reporting for the last 4 years. Their income via their bogus sites are highly questionable and they really have no real business no matter what these clowns report.
Funtown is a joke, a free to play we sell virtual avatars nonsense, and T2CN was stolen from them. IAH is a box seller haha, no margins, worthless.. And thats it nothing else here they already laundered and stole all other shareholder money.
In 2008-2010 they claimed they had 80mil in ad expenses which is fake clearly, since they had no business that had anything close to that. So their income is probably 75% phoney but who knows.
Well obviously like you say, if you assume goodwill (ie taking over a company over paper value for a considerable profit), you do so because of the profits or growth potential. I mean, there are some exceptions like if you take over a drug company losing tons of money for future drug/research potential etc. But either way, goodwill represents FUTURE profits.
As you know, GIGM took over IAH most likely to siphon out 30+ million in cash from shareholders from the proceeds of the Everest Sale, to the Koos's friends who owned IAH and wanted out because it was generally worthless.
Everything GIGM does is to siphon out GIGM shareholder money under the guise of phoney deals or purposely STUPID or suicidal deals or phoney statements to outright steal.
As I explained, they claimed in 08-09 to have 60-80million PER YEAR in advertising expenses. Thats outright IMPOSSIBLE considering their phoney units, thus, their income statements were erroneous, and they likely stole tens of millions from 08-11' alone.
As you state, the T2CN theft demonstrates the fraud. T2CN/FUntown chinese/asian based have no reliable reporting and are likely 80% phoney as well.
The only thing thats real is GIGM's balance sheet right now because we can prove it based on the Everest Sale and other metrics, but nothing GIGM reports from its income statement should be trusted. ITs probably 75-80% ficticious. After all, Funtown's rev's for the last 4-5 years are ridiculously stable, even though they have had no new games or licenses lol. And they claim accounts are also pretty stable no way. In the real world, if you had 10 year old games your accounts and money per account would not rise or be stagnant, it would fall.
GIGM realistically has no real business. IAH is a worthless POS, Funtown is probably 80% phoney, and GIGM uses its income statements for years to launder out shareholder money.
Whatever this POS stock does, the underlying company is a POS scam.