GSBC gets bitch-slapped by Financial Mail, then aka
August 22, 2007 by Dave Haynes
My friends at aka have been promising, for a while now, a piece taking a deep look into Ronald Flynn and the other characters at GSBC, the digital signage play from Thailand that was promising world domination.
There was a piece this weekend in the UK’s Financial Mail, and aka followed up with its own researched piece.
Here’s what aka started off with …
“Since late last year, Thai startup Global Satellite Broadcasting Corporation (GSBC) has been the subject of much speculation in the digital-signage community. Despite a series of emphatic press releases and some apparently high-value acquisitions, many have questioned how exactly the newcomer plans to generate its projected revenue of $43bn over five years,” reads the Aka piece.
“Now a recent article in Britain’s Financial Mail on Sunday has suggested that there may be more to GSBC than meets the eye – a finding backed up by aka.tv research.
Central to the Mail article and to our research is that the founder of GSBC, Ronald Shane Flynn, has been connected in the past with companies whose investment offerings were the subject of legal action or warnings from financial regulatory authorities. (Neither Flynn nor GSBC responded to numerous requests for comment made by aka.tv over several months.)”
And here is the Financial Mail on Sunday piece, actually part of a Q&A column by Tony Hetherington.
For background, refer to the Top Posts on this blog. GSBC has been at the top of the hit parade for months now, as investors have wisely done some due diligence research on a company that came into our industry making revenue projections that would conservatively be called “wild-assed.”