GIA 0.00% 3.4¢ giaconda limited

is this the final report for giaconda?

  1. 180 Posts.
    Well its been over 12 months since my last post for Giaconda and things dont look to crash hot for this little Bio Company based in Sydney.

    I went to this years AGM in November and there were 6-8 shareholders at the meeting. A well presented Power Point presentation on there lead drug Myoconda. Very much the same presentation as last years Blah! Blah!

    Good news, a resolution was passed for the issue of 20 Million shares at 00.03c per share. This will give Giaconda approx $500,000 to $600,000 (according to the CEO) or approx 5-6 months of money for running the company. After that funding drys up I really dont know what is going to happen as they have been trying to find additional funding close to 2 years with no success. It came close to getting funding last year but that fell threw thanks to the GFC.

    Looks like this company has been on life support for the last year and I dont see things improving in the near future for the following reasons

    1. Aust dollar for too high for Foreign Inventors to fork out 30 million for final funding.
    2. The CEO is now based in Canada as his Visa has run out and has to return home.

    3. I tried to e-mail the CEO but the e-mail is not being delivered (Server is broken) Try and send an e-mail to Giaconda and you will get a return message. Mail server down for over three weeks!

    Unable to deliver message to the following recipients, due to being unable to connect successfully to the destination mail server.


    4. Tried calling the Head Office only received a message saying the usual leave a message and I will call you back, Blah, Blah! No return call.

    If we dont get funding ASAP I think we are going to do our money on this one.

    If funding is found that we are going to have to wait another 12 months for approval of Myoconda. Good news is if funding is found Im going to look very stupid and this share price of 00.06 per share will be a distant memory.

    Im still holding and hoping for the best. Good luck to all.

    Wally
 
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