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Bullboard - Stock Discussion Forum KGIC Inc LGLTF

"KGIC Inc is an educational organization based in Canada. The company owns and operates private English as a second language school, career colleges and community colleges in Toronto, Vancouver, and Victoria."

GREY:LGLTF - Post Discussion

KGIC Inc > Remarkable II
View:
Post by sirbarfalot on Jul 08, 2015 8:56am

Remarkable II

Papagallo is calling out Chornoboy. Long overdue!! If Chornoboy wasn't seriously ill then LOY's reporting to the contrary constitutes a fraud. Papagallo should provide proof if he has it. Also, since both Klerer and Salvati were on board, what possible excuse was there for the financials to be delayed for 6 weeks and then having the true reporting of the revenues delayed for a further 24 hrs. allowing massive volume to crush the shares on June 9th. A conspiracy theory competes vigorously with the alternative of a deliberate incompetence at that magnitude. Most disconcerting is Ryu visiting an institution directly involved in the 40 cent PP to retail clients and disclosing LOY was undergoing a forensic audit. Since this was never made public and LOY had been placed under a TSX news blackout, it raises additional issues of legality and dubious motivation. Now that the shares are less than 20% of the 40 cent PP price, insiders are rushing to compete a non-brokered 3 million $$ top up barely 3 months after the 40 cent PP closed.
Comment by Papagallo on Jul 08, 2015 9:55am
Impossible to prove Chornoboy was ill or not, but timing and optics very bad, more so in hindsight. A visit to the local psych ward could have been staged as a convenient excuse. Company states that financials are late due to CFO "sudden illness" on the eve of financial reports? But not to worry, we have a replacement candidate waitng the wings, and everything will be cleared up within a ...more  
Comment by sirbarfalot on Jul 08, 2015 10:53am
We will subpoena Chornoboy. FT's relationship to LOY seems extra-ordinarily proximate which might need further clarification. When the CEO lends a public company money at 18% it invites class action.
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