Global Food Tech Inc (iPura) Shares

Alistair_Kevin

Hi
New here.
Trying to find out about this company (Global Food Tech Inc).
My father got shares in this company about 5 years ago may be more now?.
They said they would float on the market but still have not!.
Can anyone tell us more about them ?.
Or if you have shares in GFT (iPura).:(

Alistair_Kevin

Con or Not

Hole_in_my_bucket

How much do you know or how much does your dad know. There is a lot of information available on the web. A brief summary of my opinion would be that they are a very high risk investment. The directors/ board members are convinced that they will be successful and they are convincing themselves. I invested and was prepared to take a gamble over a 3 to 4 year period. But the company still has no traditional real worth. They need money or a partner who can provide finance in order to grow large enough to become proffitable. We will have to wait for information from the directors.

jimjames

How did he get shares if they are not traded? Was he cold called?

Untraded shares are impossible to value as they totally depend on finding someone else to buy at any price unlike traded ones where you can immediately see their value.

Excuse my cynicism but 2 new posters on same topic talking to each other rings alarm bells.

j0nathon2

Seems there is a holding company "Global Food Tech Inc" which has nothing but shares in "Global Food Technologies Inc".

It also seems like the shares are worthless, and considering you cannot trade them anyway, you may as well just hold them and hope a miracle happens.

I say worthless, based on the fact it's accumulated over $70m of loss, has as many liabilities as assets, and has almost 400 000 preference shares in issue which are entitled to the first $1.8m in the event of liquidation (I assume you don't hold preference shares).

No doubt one, or both of the above posters is going to tell us about the R&D nature of the business, how good a prospect it is, then get some dodgy company to offload their shares.

Shaolin_Monkey

OP you should probably read this - http://www.cityoflondon.police.uk/CityPolice/Departments/ECD/Fraud/boilerroom.htm And also watch out for "recovery room" frauds where another cold caller will offer to buy your dad's shares for a high price (or otherwise get the money back) in exchange for some sort of admin fee. It won't be a genuine offer...

Hanfordson2

It's a horrific investment sold by dodgy brokers to financially unsophisticated investors. Read the public filings (10K, 10Q) - no revenues, no assets, huge debt and no cash. Just a bunch of empty promises for a big-hit IPO, always just around the corner. There was a website article from 2009 where posters to the comments section did an excellent job of showing just how bad the company is. Those comments were removed a few weeks ago, after years of pressure from the company. The article was permanently archived through google however, and although I'm not able to link it here, you can search "global food technologies and find the boards.fool site for GFT which does have the link.

Mokolua4856

I got suckered into this over 15 years ago. Might as well have p!zzed into the wind! SO MAD!!!!

PSHopeful

I felt it was a worthy cause back in 02/03 when I was contacted by an agent touting their shares as IPO's. Now 14 yrs later, I'm having serious doubts as to whether in todays market, and with so many other food industry related expenditure, that they will secure short term success. Their shareholder information has been good over the years, but has certainly dried up in the last year or so, to the point where I cannot now get a response from their directors via direct emails to them, requesting the status quo.

Ipura has been accepted in principle, for predominantly fish/seafood processing, in the big asian canning plants, but the essence of GFT making money out of it now appears to be whether they can sell on the concept to other major supermarket store chains like Safeway, as well as getting their process approved for poultry, and then selling on that concept too.

annanickels

Hello i have just found 1000shares which i took out with GFT- ipura can we get our money back if this is a con ..

phil6666

I ended up with 5000 shares in GFT certificate dated 2002. sold to me by Morgan Young. I was taken in by their sales pitch. Cost me a small fortune with no sign of recovery. They even tried to sell me a second batch of stock, which I wisely steered away from. I doubt I will ever see a return and this has put me off all deals in stocks and shares. I think there should be some way of bringing both Morgan Young and GFT to account, because I dont believe they ever acted in the shareholders best interests. Just to make profit for their own personal gain,
but they were very clever Morgan Young said they were operating from Luxemburg and GFT used a holding Company, a small office in California.