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Thread: Calls for the creation of twinning between local and foreign banks

  1. #11
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    For all intent the price is zero

    [QUOTE=calstar;19347]
    Quote Originally Posted by dinar_dude View Post
    The people to contact about the stock question is the Iraqi Central Depository at the CBI.
    I don't have any points of contact there. They have a box to submit questions, but rarely
    get back to you.[/QUOTE

    Is the stock price is still the same. The stock price was 1.28 last time I checked. Lets hope they are calulating our free shares they owe us.
    No sells/buys or news for three years. No financial statements either. This stock has no value at this time in that one cannot sell or buy now to determine market price nor financial statements to determine a book value.
    ---------------------------------------------------------------
    "Sumerian News", that "the real value of the coin is the value of goods received by the individual and on the strength of the national economy"

  2. #12
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    If they're still in business the money from the stocks must be somewhere. It would be theft, if they just said "sorry we took your money from stocks you bought", there must be some accountability. This would show bad faith to the rest of the ISX.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

  3. #13
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    Well not really.

    Quote Originally Posted by Fishindinar View Post
    If they're still in business the money from the stocks must be somewhere. It would be theft, if they just said "sorry we took your money from stocks you bought", there must be some accountability. This would show bad faith to the rest of the ISX.
    Accountability comes in the form of audited financial results of which have not been done in over three years. Now where is the money. Remember, not talking about savings/checking acoounts here we are talking stock ownership accounts. For discussion I am just going to use even numbers not real ones. Here goes. Basrah bank opens up 10 years ago lets say with 1million shares sold at 1 IQD per share. People now own the shares and the bank has 1M IQD to work with. Point 1 is. It now does not matter to the actual health of the bank if the share value goes to 10 IQD. The bank sold them so they dont have them when it goes to 10. The nine dollar increase when sold goes to the person that bought the original person that bought the shares for 1IQD. Likewise if that value falls to .00000000001 IQD after the initial sale it has no direct impact on the health of the bank (albeit cause and affect would probably be the basis for these value moves but not relevant to the point here).
    Now to the original 1M IQD the bank raised. For all intent and purpose these funds cover the cost of doing business if other sources cannot be utilized such as profits on loans provided, profit from outside capital investments, etc. With that said, lets say the bank used 600k of the 1M on loans to construction companies, business, homeowners at 5%. Well life is good assuming all the borrowers pay their loans back. Original 600k plus 5% interest profit comes back to the bank? What happens when 500k of those loans turn out to be bad. Zip zap zoom the borrowers default and the banks original 1M IQD is now 500k not to mention the loss in salary expenses, etc to administer the loans.
    When the above scenarios begin to play out in reality you start to see companies becoming delinquent on their financials because they know the public disclosure would crash their stock and in the case of banks require the cbi to take over. So companies decline to submit their financials, in time they are delisted from the stock exchange and they are then unreachable by the original stock holders. No laws broken here. Just normal capitalism at work. Companies succeed, companies fail. Remember, a company does not have to be in the stock market to do business if start up funds can be found elsewhere. (Did not proof this. Hope it makes sense)
    ---------------------------------------------------------------
    "Sumerian News", that "the real value of the coin is the value of goods received by the individual and on the strength of the national economy"

  4. #14
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    I know I was just venting. I have/had 10 million shares.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

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