Solid Rock Securities private placement

[faoogoke]

All,
Check out this pp. Solid Rock - Home Page.

[newton]

Checked out the page, it doesn't say anytin abt d pp

[faoogoke]

Originally Posted by newton

Checked out the page, it doesn't say anytin abt d pp

There is a pp form and letter of invitation on the top right corner. I got the pp document from another website.
I however just called the company and was told it would close this friday and that it may not be extended. But you can never trust them.
Where I got the initial info from said it would commence december last year and close next month end.
I have tried copying the link without success.

[tobenna]

Not sure of the interest in this though.

http://www.solidrocksecng.com/forms/solidrockletter.pdf

+ the website sucks (just like Berskshire Harthaway's

[alanbow]

Full memo coutesy of Avocado. Now the real analysis can begin

[solainvest]

Many thanks for the private placement memorandum.

I have had a look at it and my opinion is that if anyone invest, it might be for a very long time.

The reason is that I don't see the shares in the company been liquid (easily transferable). The company does not plan to list on the stock exchange. They also plan to continue/strengthen operations in stockbroking. Any stockbroking company that intends to survive the years to come will have to restructure their operations to go beyond this.

If you have a large portfolio and intend to diversify, you could hold an asset like this in your portfolio. Else in my humble opinion, I advice against it.

Like I noted in an earlier contribution, we are going to see a minimum of 40 of these. We will have loads of stockbroking firms to pick from. Most will reorganise their operations to vie into other things which will make them stand the test of time.

I am sure this offer will be successful with the liquidity in the nigerian economy.

Let us all watch this space and look out for others who plan to broaden their operations beyond stockbroking. We should look for those that plan to enhance liquidity of their shares in the medium to long term.

[faoogoke]

My take on this pp is that considering the number of better pps current on and some that would commence in a few week's time, I'd better put my money elsewhere.
Everything about the quality of the document (not minding the content) do not project the company in good light. The impression I have is that it operates under a flyover bridge. No disrespect!

[alanbow]

Originally Posted by faoogoke

My take on this pp is that considering the number of better pps current on and some that would commence in a few week's time, I'd better put my money elsewhere.
Everything about the quality of the document (not minding the content) do not project the company in good light. The impression I have is that it operates under a flyover bridge. No disrespect!

I totally agree with you. Just read it myself late last night and the amount of inconsistencies in the document make it one to pass over. Even basic things like who to make the cheque payable to, are different on different pages.

I suppose that is why SEC is warning about the wave of PPs

[Babs_O]

Their website is really poor, looks like their service is bound to be poor. The chnaces are high this PP will go under.

[sojidavid]

i advice we all take it easy so as not to burn our fingers in the name of making it throught pp

[sojidavid]

hello newton,

which other one is likely to come next week?