Earthport Share Discussion Threads

[silkstag] 19/10/2016 07:24

EPO has grovelled to ex Baydonhill shareholders to release £0.7m cash from escrow to try to get the auditors to sign off as a going concern. EPO now owes them over £2m in shares at the previous falsity-inflated price of 20p.

So Baydonhill made a £5m blunder and the previous holders only suffer half of it against their earnout. That looks like a partial admission of gross negligence by EPO management. Under normal earnout clauses the buyer has a duty to run the business with reasonable skill and care. It seems ex holders decided EPO failed so they settled out of Court. All of this was covered up by EPO until today.

So only now do we find out why the accounts are a month late. Is this yet another breach of AiM rules? Covering up a £5m earnout dispute, that management have now settled at over £2m due to their apparent negligence in governing Baydonhill?

MANDATORY SELL
All imho. Dyor

[isaready] 18/10/2016 11:42

Nice bounce or not ! haha

[silkstag] 17/10/2016 09:20

On 22 Sept 15 EPO announced results would be announced 29 Sept and they did. 25 days later and no comment about FY16 results date. The longer it goes the more cash they burn and the more likely they are struggling to raise disaster cash now. Maybe £10m @8p.
SS expects FY16 to report a loss of -£18m, £25.5m below forecast. Market still expects a loss of -£15.5m. 3.5 months after year end this feels like another AiM rule breach. That is another warning sign current management are desperate. Desperate for cash. Desperate to cling to power after 6.5 years of failure.
As of today SS expects they have about £11.5m cash. Not much for apparently serially deceitful profligate bungling management who just lost -£18m in FY16?
MANDATORY SELL
Massive dilution @8p. Then @4p. And 1 for 10 share consolidation so you lose 90% of your shares forever.
FY16 results are a death warrant for current CEO.
All imho. Dyor

[isaready] 14/10/2016 22:33

I agree.

You know more than me about SS.

SS must have lost of EPO but is bitter.

My message inbox is waiting.

[chadders] 14/10/2016 19:53

isaready, I put my money where my mouth is and don't care what anybody else's view is.

I take exception to self styled protectors of the mug punter who simply have their own dishonest agenda or cannot accept the responsibility of their own poorly judged decisions.

I do my own research and I invest for the long term. I have losers and winners like everybody else.

EPO are just about the worst example I've ever come across for communication and have pretty poor investor relations, but it doesn't alter what is in my view a very compelling business case.

[isaready] 14/10/2016 12:08

Chadders, either Ss is wrong or you are?

We will see, but I've seen no traction for fund raising at the mo.

[y0u] 14/10/2016 09:36

Still no results? Doesn't bode well.

[chadders] 13/10/2016 15:57

isa, I think we're in for a really interesting period. Increase in valuable news flow, chart trending upwards and ambitious management targets for 2017 not to mention profitability.

The impending contract with the German clearing bank could be a real milestone.

Very happy to hold.

[isaready] 13/10/2016 10:46

Chadders, SS posts to herself, talks to herself. I guess that's what it's like in the real world, talks to herself.

[silkstag] 13/10/2016 10:04

Original forecast fy16 £7.5m profit on £30m turnover, up from fy15 -£8.7m loss on £19.3m turnover. Huge positive turnaround expectation set by management. Again!

After 5 downgrades the market now expects late fy16 numbers of -£15.5m loss on £23m turnover. So a catastrophic year.

SS expects even worse. -£18m loss on £22m to £22.5m turnover. So loss -£25.5m below forecast. Expect at 30 September 2016 they were down to £12m cash. Not much for a company that just lost £18m in one year.

Game over for this team. These results will be their death warrant. Maybe that is why they are late. Maybe management are desperately trying to find some other mugs to lie to to give them more cash so they can cling to power a bit longer and pretend they are doing great if only they are given more time?

This CEO has had 6.5 years. But of course somehow in the next year he will prove how great he is? Despite 6 years of his false expectations of dawns, you should believe the current promise of dawn? Yes, if you are a fool!

BAIL OFF LURCHING EARTHTANIC BEFORE IT SINKS TO 4P. DISASTER FUNDING TO COVER WILD LOSSES. MASSIVE FURTHER DILUTION TO 1 BILLION SHARES IS INEVITABLE. THEN 1 FOR 10 CONSOLIDATION. WORSE THAN 2005 WHEN HOLDERS WERE HAMMERED A BIT LIKE THIS.

all imho. Dyor

[chadders] 12/10/2016 12:50

It's not difficult isaready.

Soon be Christmas and then onwards to 2017 which should be a fantastic year for EPO. Globalisation will be complete and huge management incentives kick in at a share price of 40p ish.

[isaready] 11/10/2016 18:11

Silkshag never filters anyone. She is far too nosey to do that. She wants to know everything about everyone, yet happy to hide behind the facade of ADVFN.

You obviously hit a nerve Chads, hence why she replied. Couldn't help herself.

[chadders] 11/10/2016 16:42

Found anybody yet Troll?

[chadders] 11/10/2016 16:40

Looking for someone to talk to Troll?

[chadders] 11/10/2016 16:37

Thought I was filtered Troll. You're so so predictable.

[silkstag] 11/10/2016 16:10

Nope, this great white hope was a false dawn. Bit of an epo trend!

[silkstag] 11/10/2016 16:08

No, nothing 'can stop them now', er, except failure from serial false dawns!
Remember how it went in 2008!

[silkstag] 11/10/2016 09:33

You want readers to believe and be duped by management's serially bullish words.
The truth is in the numbers.

Fy16 turnover was forecast to grow from fy15 £19.3m to £30m. After 5 downgrades forecast is now £23m and SS expects a further miss,say £0.5-1m, from that.

Fy16 profit was forecast to recover from fy15 -£8.7m loss to £7.5m profit. After 5 downgrades it is now forecast at -£15.5m loss. SS expects huge miss at -£18m loss. So -£25.5m below forecast.

Management words say it is going great. Their numbers prove the words are lies.

BAIL OFF THE LURCHING EARTHTANIC. AVOID SINKING TO 4P.
all imho. Dyor

[chadders] 11/10/2016 08:02

Could be a turning point. Trending upwards albeit very slowly. If the good news keep coming we'll see a change in sentiment. Plenty of lost ground to make up. I'm an investor so DYOR.

[isaready] 10/10/2016 23:38

Looks good