KGIC Inc LGLTF

Just called the Toronto School

[rini381]

So l just got off the phone with the Toronto location and the classes are running and l could hear alot of phones ringing in the background.. Sounds like all is good and we should hear some good news soon. Excting times ahead..

[nanaimo16]

This is a good fit for the BMO. They get to save the day, good promotion and maybe have ATMs at all the schools, dish out Student Loans and after graduation have high paying clients under their wing.... And I dont think they will hose the exisiting shareholders ....

[60606060]

Who did you call,what were your questions and what were you told?

[rinchengyatso]

They have laid off teachers at the Toronto school, 4 just before Xmas, due to enrolment. It is likely that students were calling to find out if the school was open. At the moment, agents are not sending students to KGIC schools, so that will mean a severe drop in enrolment. The biggest contract that KGIC had was with the Saudi Arabian government, and that, I have been told, has ended.

[60606060]

Anything from any staff or agents???

[schoolboy]

The Toronto and Vancouver schools are "On hold" with the Saudi Cultural Bureau, which means they are not currently approved for scholarship students. Saudi scholarship students make up at least 5-15% of the student population in most Canadian language schools. This is a general turn-off for most Arab agents. There are hundreds of other schools, so they will just take all of their

[CharlieCharlie]

Remember though that KGIC (the school) is just one part of the Loyalist Group, albeit the largest part. KGIC Toronto is suffering, but mostly because of it's overdependence for 2 decades on Korean students. Andrew Ryu torpedoed the Korean market, so KGIC Toronto has lost 50%+ of it's students. I'm assuming SEC, PGIC, etc. aren't doing as badly as they have more diverse

[CharlesMadoff]

I am curious as to how phones ringing in the background and classes running makes it sound like all is good. During this entire fiasco, aside from the PGIC strike, classes have been running. Ringing phones are just that, ringing phones. I wonder if the staff at the schools know what is really going on anyhow. Like 606060 asked, who did you talk to, which school in Toronto?

[rini381]

All l did was call the school from the phone number listed on there website. All l was doing was checking to see if the doors were open to the school and classes were running. As we have not recieved any news stated anything different and from the news release on Decemeber 14th stating the following. "Company's cash position has now depleted to a level which will not likely allow the