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Trading IMI - A rewarded risk or ticket to hell?

Discussion in 'Shares' started by wdongli, 23rd Nov, 2010.

  1. wdongli

    wdongli Well-Known Member

    Joined:
    31st Mar, 2010
    Posts:
    1,292
    Location:
    Perth
    IM MEDICAL has been thrown into the death step of the hell bit by bit since IT bust. It is very true perhaps it would throw anyone who dares to get it into his home into the acid test. Actually it is magic itself that it is still alive.

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    However has it any puffs remained in its fragile butts appearance? Anyway it looks like a business of the rich doctors or medical practitioners, who have the dreams and income but don't know how to use money rather than to burn. Have they burnt enough money for IMI to be reborn.

    It looks GFC has destroyed all of confidence of the market to these doctors. It is a money burner for anyone who dared to jump in anytime before. Today some of its big or a group of shareholders decided to get out it without any surprise. 285million shares sold and all of bargainers at $0.001 who have waited there.

    [​IMG]

    It is not a bad news for the bargain hunters or poor cigar butt pickers. The problem to me is that I put two buying orders for a filling of one order and fortunately/unfortunately both of them have been filled. I worry I could not get the chance to buy it in at $0.001 for $9,900 since I didn't expect the dramatic selling. If I bought IMI I would not put all of the money into this dream stuff in business in the IT mania. If I didn't put too much into this business after IT bust, I would not sell now. It was the sale on the fire!

    Still I need to worry to lose my sleep but $20,000 in a dirty-cheap fish, minnow of the market, in my case it is a little bit too much, more than 7% of my cash-like asset on it. I am concerning if I need to sell half to get the diversification to work for a ignorant man about the medical business.

    ***
    Have start to spend the time to know it more after buying it on fire sale as I do in the shopping center.

    It is not all about bad news for the new shareholders at price $0.001. It acquire Melbourne Specialist Imaging by issuing the shares to the owners at price of $0.00245 and $0.00165 and some options at $0.0035. It was said MSI owners had done some due-diligence, he was happy the deal, and now he was the biggest shareholders of IMI.

    It seems this doctor, the new IMI major shareholder, would like to bet on IMI as a lot of losing doctors in IMI. I do feel more confident on this doctor since he seems have more business senses, otherwise he should not own MSI.

    I could not do good reading of IMI financial reports. I just would like to bet it would not die in my hand after more than a decade for its own survival.

    At moment I would like to hold these over-bought IMI fishes and think to sell some my winners to rebalance my dirty-cheap fish portfolio.

    Good luck to me and all of new IMI shareholders at $0.001. If I don't die I want to fly. IMI at $0.005 would bring me to a acceptable height in my financial freedom land.
     
  2. wdongli

    wdongli Well-Known Member

    Joined:
    31st Mar, 2010
    Posts:
    1,292
    Location:
    Perth
    Mark Scott list his business through the back door?

    The selling today is huge to the share as IMI.

    Actually Mark Scott has successfully listed his own business in the stockmarket through a backdoor.

    He has done a reverse takeover of IMI. Now He gets 57% of IMI with tight hand on it. That is very interesting and must be monitored very tightly for the future development.
    http://imagesignal.comsec.com.au/asxdata/20100610/pdf/01070741.pdf

    MSI did not receive any cash for their business but IMI scrip only. They exchanged their business for around 2.5 billion IMI shares at .00245 & .0016 cents.

    Now I am a shareholder with 20million shares. Don't know too much but do know the bodies of the dreadful minnows are used as a shell to launch some new business from the remnants. 90% I believe it might be the case.

    Very excited by the number 20million to let my emotion into a good place.
     
  3. wdongli

    wdongli Well-Known Member

    Joined:
    31st Mar, 2010
    Posts:
    1,292
    Location:
    Perth
    IMI: All at $0.001 sell gone now!

    Some bargain hunters move in quickly and buy all of left 30million IMI shares at $0.001. I believe IMI at $0.001 is a market target with the potential rewarded risk - to lose all you put in but potential 10baggers if you believe abnormal should be back to normal sooner or later.

    It sounds not too bad to prepare to lose $20,000 for $100,000 or $200,000 reward in the market. However you have to think if you could afford to lose all and you want to be patient in the dreadful shock when people dump it at all cost.