||EPS - Basic
||Market Cap (m)
Addworth Share Discussion Threads
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|ARGY2 - no doubt, he probably had a holding in leg. Just read yesterdays announcement.|
|No doubt took a nice salary for himself and family along the way.|
|Dr Death cast his evil spell on his own business. What a surprise!|
|They say "crooks never prosper"...we shall see.|
|Well things have gone very quiet...no accounts...no PLUS listing...no news whatsoever!
MWM needs to let everyone know what's going on, or indeed whether anything is left.
All got a rather nasty smell!|
|I think that's a bit harsh. Clearly their early stage investment model has floundered in recent months. Addworth have done a lot to try and create new companies to PLUS. The one major issue is that the directors got paid too much, not just in Addworth but in the investee companies. Also, some of the floats were way too highly priced. Be interesting to see how this comes back though.
Three's A Crowd was a good example. The number of directors at the trough and the outrageous salaries for this start up meant that it was doomed to failure, even at the time of floating. It's results this week demonstrate that it wasn't viable. All of this will have to change.
Addworth sound like they may go down the service model - i.e. providing offices and facilities to start-up's in return for equity and fees. Maybe this would cover their cash costs better with a more sensible overhead structure.
You shouldn't invest in PLUS companies, unless you want to be at the sharp end of entrepeneurial company development. This ultimately means big profits / losses, lately..losses.|
It is probably better if it doesn't, otherwise a new set of mugs may be tempted to invest in this, particularly if they utilise the old trick of changing the company name!
I've noticed it's mainly poor performers that do that, rarely sucessful companies.
IMO the FSA needs to become involved with these "tipsters", the lack of regulation in this area is truly astounding.|
|Well the move to PLUS is sensible in my opinion, particularly given that most of the former ADDWORTH floats have been on PLUS. Hopefully, this will come back early next year.|
|Obviously very disappointing today, but will save money. Hopefully they can salvage some value and come back to PLUS next year on a lower cost base and with a new strategy. That's the optimistic view!
Overall, their business model was only catering for a "bull market". Conditions are arguably the worst they have been for the last 10-15 years for small caps. They have been caught with their pants down!|
|Another good investment by Nigel Wray Britain's Buffet or was that Muppet?|
|delist must be imminent now.....|
|he has a bad history old watson mitchel......doesnt seem to improve|
|All looking very grim here now. I'd be surprised if they actually run out of cash, but who knows in this market.|
|What a shower.|
|down through the plug hole now! will these also go round the u bend and down the drain in one foul swoop?|
|On t1ps various sites they still appear to albeit in fast declining numbers.|
|Its well worth dragging out of the old closet imo, TOB.|
Suspect you won't get another I'm afraid.|
|I seem to remember that I got sent a bottle of Champagne for that post (by advfn, not MWM, lol), strange to see it pop up again after so long.|
|Still at least he still draws a nice salary here and in other company's that ADW invest in so he won't go short ( or shorter in his case).|
|MWM strikes again!|