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GRAND POWER LOGISTICS GROUP INC. V.GPW

"Grand Power Logistics Group Inc through its subsidiary provides air-freight forwarding and sea-freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services."


TSXV:GPW - Post by User

Comment by eInvestor99on Sep 03, 2014 11:01pm
133 Views
Post# 22904123

RE:RE:I am out at 8 cents - Goodbye GPW

RE:RE:I am out at 8 cents - Goodbye GPWWell money maker 75, that is a bit rude to refer to someone's post as a "rant". But maybe you know best and you can explain why you think this is all okay. If you go to Note 10 on page 11 and 12 of the Q2 2014 Financials and read it you will see that the company recorded an expense of $467K in relation to an associated company. What it says is that GPW wrote off $467K when a subsidiary that it owned diluted its shares that GPW held, thereby making GPWs stake in the subsidiary less valuable. The beneficiaries of the share dilution (the guys who got the new shares) included a director of GPW. That is what the financials say. They say a director of GPW picked up all or part of the $467K, while GPW wrote it off as an expense and turned its profit into a loss. When this kind of thing happens it looks an improper and the shareholders are entitled to an explanation. There is no explanation in the financial statements, but perhaps you have one.
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