Latest Posts By OXDEVIL
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| 21-Mar-2016 19:45 |
Oceanus
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Oceanus major business model restructure
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They must have owed the Chinese firm many many months | |
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| 21-Mar-2016 19:20 |
Oceanus
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Oceanus major business model restructure
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Remember that they had to wait a few months to get loan to pay their auditor...which must be a lot smaller $ than this Chinese creditor of 11million RMB.. Without security guards , what about pilferage n theft ? Ending with no abalones to sell | |
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| 21-Mar-2016 09:29 |
Oceanus
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Oceanus major business model restructure
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Without the magic hat how can they pull rabbits out of the hat ... Even Chinese lawyer is not cheap ... Domino effect kicking in ... Other creditors will follow ... Bad news dillema for the BBs ... | |
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| 11-Mar-2016 09:03 |
Oceanus
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Oceanus major business model restructure
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chairman ng annouced so proudly the insurance coverage for loss, theft or death of abalones in 2009 -- then how come oceanus could not get the insurance to cover the US$140mn loss ? what happened to the insurance ? another bullshit ? until today chairman ng did not give a satisfactory answer on this. |
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| 10-Mar-2016 13:48 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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came across an article circa Jun 2010 Beijing dinner guest speaker chairman of Oceanus under the title of &lsquo Abalone King&rsquo shares his success and words of wisdom.... hindsight says what a load of ironic crap... his success,his words of wisdom and his fat bonuses from virtual profit that disappeared into thin air just as magically as david copperfield. maybe his next successful magic will be the world largest lobster farm or world largest cunning foxes farm... |
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| 10-Mar-2016 13:29 |
Oceanus
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Oceanus major business model restructure
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and they got fat bonuses for creating these magical profit from thin air ! gain from biological assets = magic profit = real bonuses , no wonder they wanted to be the world largest abalone farms... grow 100millions abalones = $Xmillions virtual profit , grow 100billions abalones = $XXXX millons virtual profit... better than printing counterfeit US dollar bills (illegal)....printing virtual profit is legal. These bloody greedy financial cowboys use their brains to drain unsuspecting investors. |
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| 10-Mar-2016 11:53 |
Oceanus
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Oceanus major business model restructure
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Long Top Financial, Sino-Forest, Oceanus: 3 Manipulation Cases We Can Learn From
By SG Value Investor on March 9, 2016 10:22 am in Business Via VALUE EDGE Longtop Financial, Sino-Forest, Oceanus: 3 Manipulation Cases We Can Learn From Oceanus is a Singapore-listed supplier of abalones. In July 2011, the company had a market capitalisation of USD310.0mn. In November 2011, the company reported an USD140.0mn write down of its abalone assets, resulting in a Q3 YTD net loss of US103.0mn. According to Asian Financial Statement Analysis: Detecting Financial Irregularities, these were the warning signs: Listing through reverse takeover enabled Oceanus to avoid the typical IPO due diligence. Revenue and net profits were generated almost entirely from valuation gains of abalone stock. In 2009 and 2010, gain on biological assets comprised 90.8% and 74.2% of total revenue respectively. Increase in value of abalones came from an increase in quantity rather than in value per unit (which will imply growth of the abalones). This can be derived by taking the value of biological assets on the balance sheet and dividing by the reported quantities of abalone. What happened: The share price fell by more than 65%. Final Words Not every fraud is detectable by retail investors like us, especially when special purpose vehicles come into play. But the least we can do is to protect ourselves against the relatively conspicuous ones. We have showcased the above cases as examples of detectable manipulation. Common tell-tale signs include high receivables growth and exceedingly high margins. In addition, investors should be more cautious when a company is listed via reverse takeovers. Lastly, management background checks are a simple way to verify that a company is in good hands. Like this article? Sign up for our free newsletter to get articles delivered to your inbox Tags: Longtop Financial Oceanus |
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| 29-Feb-2016 12:00 |
Oceanus
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Oceanus major business model restructure
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when i watched Wolves of Wall Street movie, the picture of oceanus overpaid fat cats or talk cheap financial cowboys kept popping up.. the wolves enjoyed the free abalones with fat grins while the sheep investors got skinned to the bones... figured for every sentence of cheap empty shit talk, these fat cats got paid $millions. best jobs in Spore. big fat bonus and salary for victimizing investors...with their great plans - plans to lose great amount of money... |
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| 26-Feb-2016 15:47 |
Oceanus
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Oceanus major business model restructure
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even if there was no sabotage, oceanus old model of grow billions of abalones regardless of the actual market supply demand just so that they could show virtual paper profit based on magic gain in biological assets -seemed to be more a tool to support their fianncial roadshow to entice more unsuspecting investors... and at the same time a shit excuse to give these fat cat management an excuse to take millions bonues ... these were very well educated fianncial cowboys who walked the tight rope of the laws.. really these fat cats in armani suits were as dirty as those kampong gangsters in the eyes of all those suffering investors who lost millions.... trusted the wolves of wall street n ... |
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| 25-Feb-2016 00:28 |
Oceanus
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Oceanus major business model restructure
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hard to imagine what all those fat cat managers/ceocfocoochairmanindependentdirectorsexecutivedirectorsnonexecutivedirectors are doing everyday in their aircond office - with a paltry sales of less than $60000 per month 2015 --- even some food court noodle stall can outsell oceanus sans all those fat cat managers.. a pitiful sight to see so many overpaid chefs hired just to cook a few bowls of chicken noodles soup. suppose a lot of management skills needed to raise fund, to roll over loans and to make canned PR annoucements.. for every one dollar salary paid to these fat cat management, they generated few cents worth of revenue for the company in return - still braced to be the largest landbased abalone farms in the world plus lobster farming plus shrimp farming plus fish farming plus sea cucumber farming... move aside david copperfield. |
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| 24-Feb-2016 01:13 |
Oceanus
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Oceanus major business model restructure
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new ceo prided himself about cutting expenses from $XX millions to just $5millions a year - in other words, for many years the previous fat cat management had been grossly overspending shareholders' fund blindly while awarding themselves fat bonues. what a load of fat xxxxx... ...next AGM must ask new ceo how many more $millions loss before he can generate profitable sales to cover the 5millions expenses. what a text book case study for business school to demonstrate classic case of what went wrong with fat clueless management. rmb$billions shit down the drain.. hard to swallow that such classic hopeless company appear on SGX for so long... |
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| 24-Feb-2016 00:53 |
Oceanus
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Oceanus major business model restructure
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Repeat : the BB already gave up on this - technically bankcrupt with negative net assets - zombie counter. inside leak said BB waiting for the land claim compensation from china government - some RMB$100-200millions for the forced closure of the farms to make way for petrochemical industrialization -- when this claim fund finally reaches singapore - earmarked to pay the outstanding $$$$$ loans from some of the BBs... strange to see not much info or annoucement on this RMB$ compensation in progress. |
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| 18-Feb-2016 00:37 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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Empty words back then with terribly broken promises and fat bonuses for overpaid fat cat management... even now the management kept repeating the same old bs annoucements and empty statements in a vain attempt to conjure up false hope to the zombie-shareholders... scary to think that these fat cat management is still totally clueless to create genuinely profitable business. " very good result in 2015" the visionary chairman annouced in 2013 - what a load of xxxxxx |
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| 18-Feb-2016 00:22 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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Looking back 2013 comments on the forum... Oceanus is coming forward for a worth punt...is trading in top 20 listing on SGX Exch.
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| 06-Feb-2016 12:18 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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Agreed. This salted fish needs miracles to resurrect. The BB just waiting for the CHINA land compensation to recover part of their huge loans n thereafter this slated fish is ready for the garbage bin. Wonder who are those brave punters still dare to eat this badly decomposed salted fish. Next AGM would ask those fat cat managers - how many tins of oceanus brand abalones need to be sold to pay for the interest expenses alone ? Then watch the reaction of these brave punters! |
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| 05-Feb-2016 02:09 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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based on her current debt load, even if they sell 10 times more abalones than newmoon brand, not enough to pay for their annual interest expenses + fat cat salaries....now where to get cash to invest in marketing to outsell newmoon brand ... chinese abalones shipped to pack in expensive australia factory means higher cost than chinese abalones packed in china... the top management needs to perform another magic trick... |
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| 12-Dec-2015 18:33 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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pity that their abalone stock is so low to show any meaningful sales figure.. this counter is on life support waiting for the land claim compensation fr china governement before the BBs pull the plug out. |
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| 26-Nov-2015 19:41 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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btw BBs probably hoping n praying for a generous windfall from china government in term of the land compensation - china reclaimed the land for industrialization n traditionally they should get a lump sum generous compensation in the RMB$$$$mio - probably this is the main reason that keeps the BBs hanging in there until today. annoucement to come at the right time to boost the price before the final sayonara. |
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| 26-Nov-2015 19:27 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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Too much accumulated losses+debt - both in the hundreds of $mios. she desperately needs to find deep deep deep pocket white knights in the next 3 months. they do not have much abalones to can or sell, what they have in stock could not even pay for 1 month of expenses. do not forget all those very well-paid high salaried CEO CFO COO EXECUTIVE CHAIRMAN NON EXECUTIVE VICE CHAIRMAN DIRECTORS...all to manage very few $ of abalone stocks. probably d most top heavy abalone farm management in the whole world. if she cannot write off all the losses and loans and debts to start over afresh, the chance of turn-around is 0.5%. picture a comatose patient without income having to pay $mio hospital bills and bank interests. BBs must have big balls to throw the dice on her. |
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| 24-Nov-2015 17:07 |
Oceanus
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OCEANUS (No.1 in abalone farming): Venturing into
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with $mio already lost and gone, one of few options for these trapped BBs who had to roll their reluctant loans over and over and over and over ( $ investment rolling into monster $$$$$$$$ loan ) is to buy back the company on the cheap and then get creative talents to repackage the loan/debt/loss and go for a new round of wallstreetwolfroadshow - there is no lack of punter who will buy into any dream, however nightmarish. Is this counter still on the mainboard of SGX ? What would SGX think about this counter being on the exchange, not many stock exchanges in the world would welcome such listing. |
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Two hands, not enuff to hold ton of money...LOL on d way 2bank.| First < Newer 21-40 of 91 Older> Last |