> I think perhaps they should send YOU a share for knocking them on the > head, Danny -- note they now have such info in flashing red type :-) > > https://www.dbourse.com/profiles/tgc > > heh...
Hi JP, Maybe 'you' should send me a share in TGC, because I figured out that you own 1% of TGC and have right to vote ... hehe! But I have to knock on their heads some more... Now different questions arise, and other crucial information is missing too. Crucial information that every 'sophisticated investor' will ask for, and according to their site it is sophisticated investors they are targetting. So now we know there are 4000 shares outstanding, and the 400 shares offered in the ipo have right to vote. The question arises when , how and where you will be able to vote. Otherwise it doesn't make sense to say that you have right ot vote if you don't know when and at what place you will be able to vote , and on which issues.. Plain common sense. Can the ordinary investors call for a vote, and how? Where will be the annual meeting, at what dates, and can I vote over the internet? (like is the case with almost every stock you can buy on Nasdaq or NYSE). Usually all these things are described in the company statutes, which are always available to the public investors. But, I didn't find it at their site... Who is the chairman, at what intervals he will be reelected, what other management positions are available? What is the yearly wage and bonuses they receive..? They talk about profitable and growing business since 2000. Where are the numbers, so I can judge if 100gg is a reasonable price to pay for 1/1000th piece of this cake. Because in absence of this information I will be literally blind and deaf as an investor in this stock. One piece of information is definitely incorrect in their profile: "....TGC has no debt and has had no debt since 1st Quarter 2001. TGC has excellent cash reserves. It has zero receivables. It has no liabilities. "EOQ This is mistaken as the outstanding balances that customers have in their TGC account, are liabilities for TGC, meaning they have to be able to pay back these amounts when the customer requires so. So, that statement is false and properly published numbers would show both the cash reserves and liabilities (in form of balances held by customers) at the end of each quarter. They talk about quarterly reports. What information they will be sharing in this report? Just vague statements like 'our business grew by 10% last quarter' , or the real numbers? And is there any independant third party that will be verifying the numbers they give, or am I supposed to just take their word for it? (which would open the easy possibility for Enron style scandals gallore..., and hence command a huge risk premium...) Another gem I picked up from their site: "TGC does not especially need the additional capital raised by the IPO, the broader goal is to create excitement around the internet gold "scene," enhance the reputation of internet gold and extend its uses, extend the "TGC family," and (a process which takes years or a decade) build an impeccable reputation amongst gold financiers, much as TGC enjoys an excellent reputation with its numerous fans and users built-up carefully over years. " EOQ This is definitely a novelty, a company doing an ipo and stating that it doesn't really need the capital raised by it. In other words the 40 kg of gold will just sit there in an account, and they will effectively pay out $32,000 in dividends every year, as some form of charity it seems, only with the noble purpose of building a 'family' An considering there can be at the most 400 'family members', and in practice probably less than 100, ... hmmmm.. I'll leave it here Danny --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
