Allstocks.com's Bulletin Board Post New Topic  New Poll  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » gccp

 - UBBFriend: Email this page to someone!    
Author Topic: gccp
Agrimac
Member


Member Rated:
5
Icon 1 posted      Profile for Agrimac     Send New Private Message       Edit/Delete Post   Reply With Quote 
At their lowest in 5 months any comments please
Posts: 194 | From: N. Ireland | Registered: Nov 2004  |  IP: Logged | Report this post to a Moderator
EverGreen
Member


Member Rated:
4
Icon 1 posted      Profile for EverGreen     Send New Private Message       Edit/Delete Post   Reply With Quote 
ouch - maybe somebody knew something !!!

can be be a good bounce play
(only the braves ...)


Global Concepts, Ltd (GCCP) announced today that its U.S. management has discovered serious misconduct by the French management and internal accountants of its subsidiary, Compagnie Logistique de Transports Automobiles ("CLTA"). The misconduct involves both non-financial and financial matters.

On October 13, 2005, a court in France assumed jurisdiction over CLTA and appointed a receiver for the purpose of liquidating CLTA. In light of the malfeasance by CLTA's French management, Global Concepts did not interpose any objection to the liquidation of CLTA. Moreover, Global Concepts' U.S. management is currently working with French legal counsel, special forensic accountants in France, and its internal and external accountants in the United States to determine the full extent of the misconduct by the French management. That investigation will determine what remedies may be available to Global Concepts, Ltd.

The Board of Directors of Global Concepts has determined that the unaudited financial statements contained in Global Concepts' Quarterly Reports on Form 10-QSB for the periods ended March 31, 2005, and June 30, 2005, should not be relied upon, due to the misconduct by CLTA's management. The full extent of the misconduct cannot be determined at this time. However, the Board of Directors believes that the financial statements provided by the French management of CLTA materially overstated revenue, and that assets and liabilities had been materially misstated. The revenue and income reported by CLTA represented substantially all of the revenue and income reported by Global Concepts for the first six months of 2005.

Global Concepts will report further information regarding the actions by management of CLTA as they are discovered

Posts: 1442 | From: Lugano - Switzerland | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
tic_toc
Member


Member Rated:
4
Icon 1 posted      Profile for tic_toc     Send New Private Message       Edit/Delete Post   Reply With Quote 
wow what a pos. glad I bailed...
Posts: 768 | From: Ingland | Registered: May 2004  |  IP: Logged | Report this post to a Moderator
juice
Member


Rate Member
Icon 1 posted      Profile for juice         Edit/Delete Post   Reply With Quote 
wow this is under a cent! haha glad i got out a long time ago too, unbelievable!
Posts: 2794 | From: nyc | Registered: Aug 2005  |  IP: Logged | Report this post to a Moderator
WarpedMind
Member


Member Rated:
4
Icon 1 posted      Profile for WarpedMind     Send New Private Message       Edit/Delete Post   Reply With Quote 
Question is, can they bounce back?

Problem - This was their main income maker. However, before they bought this company, their stock was doing decent for a little bit. The fact that their main money maker is out of the pictured doesn't mean they can't join forces with someone else, does it? Course, they're in major debt right now... Ugh... too many variables. Can someone help this newbie (me) make sense of this and what the reasonable possibilities are for the future?

--------------------
Life is like a roll of toilet paper. The closer it gets to the end, the faster it goes.

SEIZE THE WEB! - CarpeEM.com
http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/14/t/001456.html

Posts: 1711 | Registered: Oct 2005  |  IP: Logged | Report this post to a Moderator
   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  New Poll  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share