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Geong, Geong Gone! Yes the AIM Execution took place this morning

Over at Paternoster Square, above the headquarters of the London Stock Exchange the black flag was again raised this morning as Geong (GNG) took its final walk to the AIM casino execution chamber and was despatched. I’ve been wanting to say this for three years: “Geong, Geong…Gone!” This is the 15th AIM casino ShareProphets China Filthy Forty stock to meet its maker since the Index was started on June 1 2014. Who’s next?

EPIC GNG
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Geong, Geong GONE! - Another China fraud goes onto AIM casino Death Row

Oh dear. It could not get its accounts out on tme - given that they were total fiction that would have been hard - and at 4.05 PM today, shares in Geong (GNG) were suspended as Nomad and broker Finncap quit with immediate effect. I've wanted to use the phrase Geong, geong gone! in a headline for years and now I can. If no Nomad signs up for reputational hara-kiri within a month Geong will be booted off AIM. Pro tem it goes onto the casino death row. Boy the cells there are getting crowded.

EPIC GNG
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ShareProphets AIM-China Filthy Forty: who will be next to join the AIM-Casino Death Row?

As flagged up at the weekend HERE there were fourteen AIM-China stocks still to report by the deadline of tomorrow (Weds). It is now Tuesday and we have had just three so far- China New Energy (CNEL), GTS Chemical (GTS) and Asia Ceramics (ACHP). More on those to follow. But already we have had another one join Sino-Casino Death Row in the form of Camkids (CAMK) (see HERE).

EPIC GNG
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Geong – Audit update leaves the company hanging by a thread

Fourteen sets of Filthy Forty numbers to come in by Wednesday to avoid suspension, but AIM-China play Geong (GNG) still, from this morning’s RNS, seems to be wrangling with its auditors over its FY numbers to the end of March this year. There is just so much to go wrong here: will a convertible debt of £1 million get rolled over for another year as hoped? Will Geong get passed as a going concern? Will it get audit sign-off? Will Geong get the numbers out? And then there are the write-offs. It looks grim. Bag of Walkers, anyone?

EPIC GNG
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ShareProphets Filthy Forty: Geong for a song (and what about AIM Rule 26?)

Out of the AIM-China companies we have identified as the ShareProphets Filthy Forty, ten have already left the Casino. The rest are starting to form an orderly queue, with three more exits on the way. Two are the result of Nomad resignations, but Jersey-registered Geong International Limited (GNG) seems to have opted for the derisory take-over offer method. Having listed all the way back in June 2006 at 30p a share, and never having paid a dividend, Geong announced on Monday that it was in talks regarding an all-cash 5p a share offer.

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