Cleardebt Share Discussion Threads

[pugg1ey] 07/3/2013 14:38

simon I seem to follow you! Used to hold these and actually did OK out of CLEA profit wise. However I see the PI gets mugged as always. Always have to be wary when founders own such a large percentage.

[34simon] 07/3/2013 14:17

You have to hand it to moreforus, no other poster apart from his sidekick topinfo
can push so many stocks that easy lose 90%+, go bust or get delisted !

Quite a incredible track record !

[empirestate] 13/2/2013 20:26

am not looking forward to the interims considering how bad the report writing was last time and there appears very little consideration by the management with regards the potential impact of poor reporting on the share price

[empirestate] 01/2/2013 15:36

if ever i have seen a lack of interest, it's in this one. not surprised though with the thoughtless last statement put out.

[empirestate] 21/11/2012 10:09

Dust, dust anyone

[loverat] 21/11/2012 09:55

Been trying to read the final results here. Not seen results set out like that before and I got a headache from trying to read it!

[empirestate] 21/11/2012 07:29

GHF, thanks for your thoughts, i would have probably not taken the plunge if i had read yr 4081. i don't think i can help myself but just for personal satisfaction i will send David an email with what i think. i still can't get over how badly the report was written.

[glasshalfull] 20/11/2012 16:50

Empirestate - Don't know if you saw my earlier post on the thread?

post 4081


I've been kicking the tyres here as first glance it looks v good value.

My gut instinct was that fair price was around 3p given the convertible issue but the more I look the less I like about the company.

Went through the notes in 2011 AR and I believe that this is just CEO David Mond's baby with no institutional investment apparent. 4 x family members including David effectively control the company and when I looked at notes re. Loans and Convertibles it appears that DM is taking a fair bit out the company via an over the top 10% interest rate. This debt effectively cost the company over £300k last year, I believe that market scepticism is effectively knocking the share price, which equally hurts him in the pocket given his 35% shareholding.

Even now with convertibles repayable April 2013 then this will swallow £2.85m cash. Not only do holders of the convertibles receive 10% interest per annum (inc. DM with £500k of convertibles) but there is also a 25% bonus on top of the £2.3m loan which seems very generous on top of the 10% per annum...DM also has £600k loan outstanding following interim period.

Let's therefore call it EV £7m when you add back cash on b/s

Now factor in the interims which indicated that IVAs dropped in the latter 3 months of the interim period with loss of a lead source and my reading of the outlook statement indicated that they expected an increase in IVAs would eventually come through.

With Equity Dev Pencilling in normalised EPS of 0.3p or £1.25m PTP then I'd suggest with debt added back as per EV above, then this suggests fair value around EV £10m in my book given shareholding of management and lending uncertainty...so roughly 40% upside from current 1.4p and I'd place fair value of c.2p until convertible issue resolved.

Please note that Cleardebt management weren't prepared to send me any up-to-date info from Seymour Pierce, and ignored my queries regarding the convertible issue. Make of that what you will.

I'll certainly not be investing here & would sum up as a company run by management for management.

Regards
GHF

---

I was very critical of the company & today's results confirm my scepticism, I'm sorry to say. Results poor and IVA fall confirms that these are uninvestable given that I question management.

I summed up my last post as a company run by management for management & feel vindicated in that stance.

Hope the investment works out for you.

Regards
GHF

[saucepan] 20/11/2012 12:53

Good luck. In situations like these, I personally find it is always better to bite the bullet and stick whatever funds can be salvaged into something with positive momentum.

It looks to me like the bottom has fallen out of CLEA's business. From what the Company has said today, IVAs look as if they could be a product in terminal decline - hence, I personally don't see any prospects of a recovery here.

No advice intended.

[empirestate] 20/11/2012 12:47

Saucepan, it certainly makes you wonder how the senior management in these firms get to their positions. The report is so badly structured and worded, i could have done a better job myself. As for keeping shareholders in the loop, it is a disgrace as well as the fact that there appears no concern as to what the share price is. never mind, live and learn but will hang on in here and stick them in the pants drawer with a few others.

[saucepan] 20/11/2012 08:38

Sorry, empirestate. I have been watching from the sidelines for the best part of a year. I used to hold CLEA, but became increasingly uneasy with it and not helped by the lack of liquidity.

Not being able to announce to the markets a clear date in advance for results never fills me with confidence. CLEA is not the only company of course, but why can some companies get their act together in that way and others not?

I must admit, I became increasingly fearful the longer the period that elapsed with results failing to materialise. A case of postponing bad news while raking around for a miracle or something else to offset the bad tidings.

I might have looked to buy back had results been good, but that is clearly not the case.

[empirestate] 20/11/2012 08:05

another bad day at the office

[empirestate] 20/11/2012 08:03

who ever wrote their report needs to go back to school, it's a thumbs down from me. the underlying performance is sound but my word there appears little intent
or consideration ref the share price from david mond

[empirestate] 19/11/2012 22:56

blimey, this is doing my head in.

[empirestate] 15/11/2012 15:58

interesting now at a potential breakout point on the graph, could do with some stats though, will have to email David Mond again at this rate

[empirestate] 13/11/2012 00:31

keep em peeled

[empirestate] 11/11/2012 23:12

David Mond expressed that the auditors were finishing up and also stated that they were usually out in November. not for the last three years they weren't but it kinda gives the impression that they are not late from his perspective. i can well imagine that the audit has taken longer considering their
much improved transaction numbers at the half way stage.reckon we should see them this week.

[bisiboy] 10/11/2012 18:33

not normally good news when results are late

[bisiboy] 10/11/2012 18:33

not normally good news when results are late

[empirestate] 06/11/2012 00:22

these results better be worth waiting for. not a single announcement out of the company since end of May. They should be out this/next week. very frustrating.

[empirestate] 01/11/2012 21:06

can someone answer that phone plse, it's so busy around here

[empirestate] 01/11/2012 01:19

reckon we should see stats this/next week, audit just finishing up as per Mr Mond.
audit must have taken longer due to the significant growth they have had over the past year i reckon.

[empirestate] 31/10/2012 16:42

have emailed David Mond for an update

[empirestate] 30/10/2012 16:19

crystal ball game: full year revenues GBP9.5M and PBT GBP1M

[empirestate] 28/10/2012 18:19

would like to think that we will see the results this coming week.