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ESI > Dead, Kaput! Emminant board ,Good Practical Technology, Hopeess greedy bad management !! So we all do our "Dough" again by believing Co. info & Integrity of Directors . http://www.ShareScene.com/html/emoticons/grrr.gif
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In reply to: bunyip2 on Friday 26/11/04 01:00pm

Yep,

Every trading rule screamed dump after the audit comments but on the strength of the chairmans comments I chose to hang in there. DUH! I am still not sure whether the board were being dishonest or just plain stupid. Not a happy camper.

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In reply to: badahur on Friday 26/11/04 02:28pm

Bit over 11k...been caught twice now. Pas hurt me bigtime. Still recovering. I need PTD, EPT,

MOS and IFM to land shiney side up to get back in the game. Strange how, if you look back at the trades that do go bad in a detatched kind of way you wonder how you could possibly fall for such a sucker play. The answer of course is fear of taking the loss and hoping against all things rational that black will morph into white.

It still beats working though. LOL

 

Cheers

Mac

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In reply to: trisail on Friday 26/11/04 02:54pm

Ever since BDL, (lost 9K), I've had a plan and stuck to it.

 

I've made losses but the wins are keeping me way ahead.

 

Unfortunately still have a day job, but will be going full time trading in about 3 months.

 

Regards

 

Badahur

 

 

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  • 5 months later...

Did any shareholders, during 2004, see any announcements by the Directors that the company was in trouble and burning money at a furious rate. The first I knew of it, was when I received the annual report. It seems I was not alone.

 

Was any shareholder aware that the Enersludge plant at Subiaco had been in mothballs for eight months prior to the issue of the 2004 annual report. If this be the case, I cannot remember seeing anything about that in the Annual Report, or in any prior announcements.

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In reply to: techtrad on Saturday 07/05/05 08:52pm

They never told the truth,why should they tell the owners what was going on.Glennon and board never replied to requests for information.

Anyone heard from the receivers ?

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In reply to: gulf on Monday 09/05/05 06:58am

http://www.sharescene.com/html/emoticons/grrr.gif Nope no news "Nuuthin". Receivers quickly sold Co & Technology off to Tenex so Engineering Staff presumably retained their jobs. Still operating presumably profitable. No one kicking up any fuss. No ASIC enqueries . No one wants to embarrass our ex Chairman & emminent QC. Not what you know but who you know & I & other little believing Lambs again lost our innocence. Shades of ERG,AMP,NAB,HIH etc. We knew the risks with the Bonds,Connells,Elliots,Adlers,Dempsters, Skase, etc.etc, etc. But this one really hit me hard from offside!. Modern Corporate Moralty! > "Sheesh". ww > b.

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In reply to: bunyip2 on Monday 09/05/05 01:23pm

My son lost $28000 dollars in a crook housing deal. You know kit homes, the industry that NSW Politicians said they had cleaned up, and you could use with confidence. He was not on his own. 69 other families got caught for amounts ranging from $3000 to $80000. The grub directors of this particular company even pulled rorts with the insurance, some families being insured and a greater amount not. I approached ASIC and was told "the Federal Government does not give us enough money to chase a small loss like $1.6 million dollars. How do you think I felt when one night I had to sit and watch the then boss of ASIC come on the TV and brag how they had nailed Renee Rivkin for $3000 company wise and I think it was $300 dollars personally. More publicity and grandstanding getting a tall poppy than having a victory for 70 families.

 

Back to ESI, if no announcements were made prior to the issue of the Annual Report re the parlous state this company was in, yet a certain person left the company ???? with all benefits approx. 3 weeks before the Annual Report was sent out to shareholders, does that constitute a form of insider trading.

 

It would appear the Directors of this company clearly sold we shareholders out, and regardless of their "positions QC or otherwise," their actions and behaviour in the 10 months prior to the issue of the 2004 Annual Report should be thoroughly investigated.

Does anybody know if the Receivers or Administrators can involve ASIC. They may have more swish than little old me, who was trying to help his son.

 

 

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Hi Techtrade. Sorry about your son! It's a tough world out there. Re ESI like you no contacts to shake & stir. When caught with SWC recievers eventually sold Co. core to VRE (Name change instant public listing) & paid us .01 cents. I punted that buyers had good reasons & topped up while still cheap. Got out with comfortable profit after all & then saw shares keep rising but I was just very greatfull as unless you really have the right contacts don't trust Mining or Hi Tech penny dreadfulls. My hope is history may yet repeat itself. Nuthin I can do yet other than wait ! So whats new. W > b.
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