Bidtimes Share Discussion Threads

[shawzie] 07/7/2006 14:32

nav 4.29p at year end 2005. . . . . nav 3.33p at half year Aug 2005 . . . . . .
Will the nav at year end Feb 2006 be around 2.75p per share?
If results are published in August, we will not have long to wait

[lbo] 24/6/2006 15:48

I also see Bidtimes is ticking up

[callumross] 21/6/2006 11:22

I see your friend stephen wickes has just announced an initial stake in another cash shell worthington group (WRN)

[lbo] 19/6/2006 15:43

Stanley Leisure adds in Southampton
Mon 19 Jun 2006

LONDON (SHARECAST) - Casino operator Stanley Leisure has increased its number of outlets to 45 with the acquisition of the Harbour House casino in Southampton.

The consideration of £5.9m, including the repayment of indebtedness of approximately £563,000, will be subject to an adjustment for working capital and be satisfied in cash.

The Harbour House casino opened in December 2003 and has approximately 21,500 square feet of floor space. This casino, combined with the Stanley Southampton casino, will allow Stanley to cover a broader spectrum of the local market, it said in a statement.

Following this acquisition Stanley now operates four casino in London and 41 in the UK provinces

[shawzie] 18/6/2006 23:51

Date: 16 June 2006

Meriden Group Plc
Trading Subsidiaries Update

Further to the Chairman's announcement on 28 April 2006 in the interim report
for the 6 months results to 31 January 2006 it is with regret that the Directors
now announce that they have been unable to locate a purchaser or refinancing
package for the Logistics Division which operates from the two 100% subsidiaries
As the old song goes "You can't look at one without the other".


Meriden Logistics Limited ("MLL") and Meriden Logistics SARL ("MLS").

The Division has continued to incur further losses and the Directors
consequently decided to apply to the court for the two subsidiaries MLL and MLS
to be placed into administration.and the administration order was granted today.

Trading in the rest of the group continues in line with management's
expectations.

Enquiries:

Russell Stevens, Chief Executive Tel: [phone]

Jonathan Wright, Seymour Pierce Tel: [phone]

[lbo] 13/6/2006 09:59

The AIM listing of Bidtimes alone is worth 500k and I suspect a few see it as a cheap way to list.

[shawzie] 12/6/2006 23:26

lbo
I notice from your previous posting that the Wolverhampton casino was declared open by the Managing Director of accountancy firm "Hamiltons" - another of Russell Stevens creations.

[lbo] 12/6/2006 19:10

Well I am sure Dawney Day would buy them if they could

[latestarter] 12/6/2006 18:58

could always bid MRD for the stock, im sure they would be a seller

[lbo] 12/6/2006 18:18

I think you will find that Blue chip is doing well and growing revenues. The reason for the EBITDA fall can be explained by preopening expenses for the opening of the Blue Chip-Walsall pub-style casino and soon to be open Queens casino in Warley.

[latestarter] 12/6/2006 12:20

its almost like being in the split caps again, one goes its going to be a ring of fire

[shawzie] 12/6/2006 11:57

latestarter
thanks for reply - the INO investment of 1,880,000 shares is possibly worth
less than £30,000 today.

[latestarter] 12/6/2006 11:22

you are correct at 17m, as for NAV srs now has to be worthless and INO is at best a longterm investment, take out the debt, and that 150k must be in the accountsi reckon some 200k NAV + the value of the listing, about the same really 1.5p at best. If you search bluechip accounts they are not performing that well.

[shawzie] 12/6/2006 11:00

I have been looking at the ADVFN Financial data for BDT and note that the following is shown :-

Market Capital £1.15M Shares in Issue 40M NAV/Share 1.86p

I have asked ADVFN to check and correct such figures if necessary,as I thought
that Shares on issue stood at 17,373,523 - can anyone confirm?

[latestarter] 12/6/2006 09:22

may well be fella, but i would want to see the present board gone

[lbo] 11/6/2006 13:40

Anyway Lets wait and see why Dawney Day are here and why other Directors have been buying too. Frankly none of the investments really interest me but I suspect a pleasant surprise is on the way and I also suspect a reverse takeover is coming IMHO and DYOR.

I also agree that Bidtimes is a cheap way for someone to list on AIM.

[topvest] 09/6/2006 22:11

I also made a profit on Bidtimes, several times. Not so fortunate on Meriden. Bidtimes has been a very poor performer in financial terms though - almost every investment has been poor.

[shawzie] 09/6/2006 20:51

lbo
I have no interest in talking down the market price of Bidtimes - if only I had such influence. Perhaps the market is getting it right.
Bidtimes has contributed several thousands of pounds to my investment gains, as I bought at 4.5p and sold at 8.375 and 11.125 in March 2005.

My interest in Financial Statements is in the bottom line, then try and analyze what makes up that bottom line figure i.e shareholders funds.
The Directors Report clearly states that there is no hidden value in the
Blue Chip Casino investment. Are they lying?

Your comment re " Also add in the 150k from the Loan to the bidtimes Director and then at least 150k equity which will be returned when all the properties are sold." Surely this has all been included in the Financial Statement when
arriving at Shareholder Value.

Of course, you may be correct in all you say and perhaps I have a chip on my shoulder as my gains in Bidtimes do not cover my existing losses in Innobox.
However,
if you read all the posts in the Bidtimes and Innobox BBs you would note that my research is fairly detailed - I have even purchased copies of shareholder
registers for both companies on several occassions, etc., etc.

[lbo] 09/6/2006 16:40

Well then why are you here??? LOL

[topvest] 08/6/2006 21:47

If you look at the record of Mr Stevens over the last few years it hasn't been a great example of shareholder value creation. Bidtimes - poor performance and can't sell the Barratt Homes properties; Innobox - loss making pub businesses and Meriden Group - total shareholder destruction story...I'd hate to see what these guys could do in a recession!

[lbo] 08/6/2006 12:17

Also add in the 150k from the Loan to the bidtimes Director and then at least 150k equity which will be returned when all the properties are sold.

Anyway all this is besides the point when more then likely with Dawney Day etc buying shares this is on the verge of a reverse take over IMHO

[lbo] 07/6/2006 22:44

Your not doing your homework or you have an agenda on trying to talk this down!

Ps the properties were sold at a loss on the carrying value not on the cost value and this does not take into account that they have been bringing in rent over the investment term

As for Bidtimes I again refer you to the statement and to latestarters other post ( by the way the comment on Innobox was made by latestarter not me!:

"Shareholders are reminded that it is the Group's policy to value investments at
the lower of cost or net realisable value. This results in the immediate
recognition of potential losses, but not potential gains and I would point out
that the Group has a number of potential unrealised gains, as detailed in note
6 to the balance sheet, which have not yet been recognised"

latestarter - 17 Aug'05 - 10:05 - 115 of 147


isle casino also signed agreements to open in coventry and salford, anyone know if that is with blue chip or on its own? or is this the further investment referred to in the accounts
page 91 of the isle accounts also shows that isle have the right to purchase minority interests, th 66% stake is on the books at
Blue Chip Casinos, PLC
On November 28, 2003, pursuant to a subscription and shareholders agreement, the Isle of Capri Casinos,
Ltd. (the "Isle-Ltd."), a wholly owned subsidiary of the Company, acquired a two-thirds interest in Blue
Chip Casinos, PLC ("Blue Chip") for £5.3 million (which was approximately $9.0 million based on
published exchange rates as of the acquisition date). Under the agreement, the Isle-Ltd. has the option to
require the minority shareholders to sell their respective shares to the Isle-Ltd at fair value or at a price to be
agreed upon. This option is available for a period of seven years from the acquisition date or for five years
from the introduction of new gaming laws whichever is later. If the Isle-Ltd. does not exercise its option,
the minority shareholders have the right, during the one-year period after the option expiration date, to
require the Isle-Ltd. to purchase the minority shares at fair value or at a price to be agreed upon. The
Company's acquisition of Blue Chip positions the Company to potentially expand gaming operations in the
event that the United Kingdom reforms its gaming regulations.
Concurrently on November 28, 2003, Blue Chip acquired the assets of an operating pub-style casino (the
"Blue Chip-Dudley") in Dudley, England, and the assets of another casino (the "Blue Chip-
Wolverhampton") in Wolverhampton, England that opened in April 2004. The total purchase price paid by
Blue Chip for these acquisitions was £5.8 million (which was approximately $10.0 million based on
published exchange rates as of the acquisition date) of which £1.0 million, or approximately $1.7 million
based on published exchange rates as of the acquisition date, was deferred and is not payable until
November 28, 2004, and is included in current liabilities in the accompanying consolidated balance sheets.
These acquisitions by Blue Chip were accounted for as purchase business combinations with the purchase
price preliminarily allocated to the fair values of the assets acquired resulting in preliminary goodwill of
£3.6 million (which was approximately $6.4 million, as of April 25, 2004, based on published exchange
rates). Goodwill is not deductible for income tax purposes. The results of operations of these casinos are
included in the consolidated statements of operations since the acquisition date. The purchase price
allocations have been completed on a preliminary basis, pending receipt of closing documentation and
subject to adjustment should new or additional facts about the businesses become known.
5. Goodwill and Other Intangible Assets
The changes in the carrying amount of goodwill are as follows (in thousands):
Balance at April 28, 2002............................................................ 305,850 $
Acquired goodwill............................................................... 20,459
Balance at April 27, 2003............................................................ 326,309
Adjustments to goodwill:
Final purchase accounting adjustments related to the Colorado Central
Station-Black Hawk and the Colorado Grande-Cripple Creek............... 1,064
Acquired goodwill............................................................... 6,242
Foreign currency translation adjustment ....................................... 165
Balance at April 25, 2004............................................................ 333,780 $

LBO - 17 Aug'05 - 19:26 - 116 of 147 edit




Bidtimes have a 6% stake in Blue chip which cost £50,000 and according to the above Isle of Capri deal it was valued at £477,000 in 2003

[shawzie] 07/6/2006 19:53

lbo

Called up share capital 868,676
Share premium 714,948
Revaluation reserve 123,856
Profit and loss account (1,127,892)
-------------
Equity shareholders' funds 579,588
-------------

Bidtimes - The Board of Directors, by the decisions taken, has lost over £1M of shareholders funds.
Innobox - The Board of Directors, by the decisions taken, has lost over £1M
of shareholders funds.
Meriden - now loss making.

The common factor in all of these AIM listed companies is Russell Stevens.

I quote from the last Annual Report and Financial Statement for Bidtimes -
THE DIRECTORS' OPINION OF THE MARKET VALUE OF THIS INVESTMENT (Blue Chip)
BASED ON THE CURRENT PERFORMANCE OF THE COMPANY 28/2/05 IS EQUAL TO ITS COST OF £73,867

How can this investment be worth around £375,000 If it was, then the Directors would surely make a note in the accounts stating that although for accounting purposes it is shown at cost, in their opinion it was worth £375,000.

As far as Bidtimes is concerned the investment in SRS is bad judgement.
The investment in Innobox should have been sold some time ago as the value of Innobox is sliding down the pan and of course two properties have been sold
at a loss of £4,500 and £7,500 not counting the disposal costs.

Surely you jest when you quote "INO to be used if needs be to fund the next move for BDT"

I am more interested in what Russell Stevens does, rather than what he is reputed to say.