Eros Share Discussion Threads

[smurfy2001] 07/11/2015 23:44

For anyone interested l started my EROS stock transfer from III to iWeb.

I posted the form on the 31st and got a letter of acknowledgement from iWeb they are waiting on III for a valuation. Got a call from III Thur asking why l was transferring the stock, sigh. After l informed him III won't allow me to buy or sell because it's not in crest he apologised and asked me to pay £15 for the privilege. Got another letter from iWeb today informing me they have the valuation and things will now proceed. So things at least appear to be progressing smoothly.

Let's see how long it takes.

[eurofox] 06/11/2015 08:08

An example of manipulation From DT:



A Scottish man has been charged in the US for allegedly using Twitter to manipulate share prices.

James Alan Craig, from Dunragit, caused shareholders to lose more than $1.6m (£1.1m) after using the social network to spread "fraudulent" information about companies, the Department of Justice said.

According to the DoJ's indictment, the 62-year-old set up Twitter accounts using names similar to real market research firms, before tweeting false news about publicly-traded securities.

When shares in the targeted companies slumped, Craig allegedly bought securities of the firms through his girlfriend’s brokerage account and later sold them at a higher price.

In 2013, Craig set up @Mudd1Waters to make it appear as if he was tweeting as Muddy Waters Research, a market research firm, it is alleged. He is also alleged to have used the firm's logo as his Twitter profile picture.
Craig then allegedly used this account to publish false tweets that sound technology company Audience was being investigated by the DoJ on rumoured fraud charges. Audience's stock dropped and Craig bought 400 shares of the firm's securities, later selling them for a profit.

The DoJ alleged Craig repeated the act by pretending to be Citron Research, another market research firm. He then targeted Sarepta, a biopharmaceutical firm, with false claims.

Craig has been charged with a single count of securities fraud. The Securities and Exchange Commission filed a separate complaint charging Craig with securities fraud.

“The allegations in this indictment describe a significant stock price manipulation committed through the use of social media,” said acting US attorney Stretch. “This prosecution makes clear that we will find and prosecute those who commit fraud on our stock exchanges, by any means, no matter where they reside.”

“This investigation dismantled a stock market manipulation scheme that operated with one goal in mind - to falsely defame a company in order to destroy its stock value for financial gain,” said Special Agent in Charge Johnson. “The FBI is dedicated to stopping this type of predatory behavior. It causes substantial harm to businesses, deceives the average investor and erodes overall confidence in the markets.”

[maya2006] 05/11/2015 19:53

So just because someone sells 2% the shares/bonds take another dive and don't recover when another ii buys 3x this amount. No sentiment here. Hope this is not another story similar to globo/QPP

[spectoacc] 05/11/2015 19:15

Thanks @Simon, it's not in there either but that article's a good read, gives both sides.

[smurfy2001] 05/11/2015 16:45

BookEmLockEm,

They don't support sharing of a stream unlike Netflix that allows 4.

Future roadmap is what they said and 6 streams per account is what it might be.

[simon gordon] 05/11/2015 16:43

Specto,

Here's the Bloomie piece:



If it wasn't in that one I think there is another article kicking around today.

[simon gordon] 05/11/2015 16:40

Specto,

Sorry, think I posted the wrong article, there's a Bloomberg piece out today that talks about the balance sheet.

[spectoacc] 05/11/2015 16:34

Thanks @Simon, but I read the opposite in that:

"Eros stock, traded on the New York Stock Exchange as well as in India, has fallen significantly of late, as the corporate debt was trading near par three weeks ago and is now trading at a 50 percent discount.The stock was trading near $32 October 12, but is currently trading at $13.47. Aandahl thinks that looking at the debt is a measure of where the stock price should be. “If you just looked at the corporate debt it would indicate the value of Euros should be at zero,” which is Aandahl’s price target."

ie the shares should be zero and the debt should be at 50% of par, which is exactly where it was. Though calling the share price off the price of ERO1 seems decidedly ropey! What other listed debt does Eros have, anyone know?

[michael156] 05/11/2015 16:30

Dalton Investments has boosted its stake to more than 6% though, so the dilemma continues ........

[simon gordon] 05/11/2015 16:25

Specto,

Bit in this piece about pecking order of creditors:



If true the bonds would probably get zilch if they go under.

[bookemlockem] 05/11/2015 16:23

EROS investor day



when asked number of user streams per acc they just didn't know (3:44:40)

[smurfy2001] 05/11/2015 16:22

So EROS have not seen any letter? Sigh.

[spectoacc] 05/11/2015 16:11

Shares are down 8.7%, but have been lower, and once again ERO1 is outpacing them, which is perverse. If - if - the co is up to no good, ERO1 ranks ahead of the shares when claiming the assets.

Edit - shares -10%, ERO1 -19%, got to laugh (I think).

[bookemlockem] 05/11/2015 16:08

Knight Flight

While Eros says its accounting complies with industry norms and denies any wrongdoing, the uncertainty has led to the loss of a key supporter. Knight Assets & Co., a London-based investment firm that until recently owned more than two percent of the company and advocated aggressive expansion of Eros Now, has sold its entire stake, according to a letter to its investors obtained by Bloomberg.

In the letter, which was sent in mid-October, Knight said it decided to sell because “revenues, revenue sources, receivables, intangibles and cash flows” had begun to “flash warning signs,” and that it was unsatisfied with explanations from Eros executives. It highlighted an increase in receivables, which climbed to about $210 million at the end of the 2015 financial year, from $112 million a year earlier. Knight said in the letter the firm had been assured by management that “the receivables position would unwind” this year, instead of the opposite.

A representative for Knight declined to comment. In its statement Wednesday, Eros said it hasn’t seen any letter sent by Knight.

[bookemlockem] 05/11/2015 16:07

One of their biggest fans dumped their 2% holding. That's saying something

[michael156] 02/11/2015 23:23

As the American saying goes :- " It aint all over until the Fat lady sings " - I'm sticking, at least until the results and any new information.

[eurofox] 02/11/2015 21:09

point taken

[soul limbo] 02/11/2015 21:05

from the same 'fools' :

3 Growth Companies I’d Buy Now: Globo PLC, Plus500 Ltd And Quindell PLC

Monday, 27 October, 2014

[eurofox] 02/11/2015 21:01

hxxp://www.fool.com/investing/general/2015/11/02/why-eros-international-plc-jumped-20-monday.aspx?source=eptadnlnk0000002&utm_source=advfn&utm_medium=cpc&utm_campaign=investorshub




Why Eros International PLC Jumped 20% Monday

The Indian movie producer's management started shooting down negative rumors, but there's much work left to be done.


What: Shares of Eros International (NYSE:EROS), an India-based producer and distributor of Indian films, rose more than 20% on Monday. The company has recently been under attack as anonymous critics sought to expose flaws in Eros' accounting methods and content library.

So what: Today, management addressed many of these attacks in a detailed rebuttal letter, reducing some of the market pressure on its shares. Among other things, Eros said its content collection stretches three decades back, and thus becomes difficult to track using accounting practices designed for more recent productions. Moreover, the company was accused of standing on the brink of bankruptcy, but it can actually point to positive cash flows and a robust balance sheet.

Now what: Digging a bit deeper, the unnamed critics claimed that Eros was riding toward disaster on a crazy train of runaway debt. However, Eros has been reducing its debt-to-EBITDA ratio significantly over the last year, which is a strong sign that the company is becoming more financially healthy rather than less.

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

And with financial debt of just 1.5 times trailing EBITDA profits, Eros compares well with stateside rivals Lions Gate Entertainment (NYSE:LGF) at 3.4 times EBITDA, or CBS (NYSE:CBS), whose ratio stands at 2.8. Lions Gate and CBS are also increasing their effective debt load, while Eros is reducing its own.

In short, I'm buying Eros' explanation, much as investors are in Monday's trading session.

There's still much work to do if Eros wants to entirely erase the effects of this anonymous smear campaign, if that's what it is. The stock is trading some 65% below its 52-week highs, even after Monday's 20% upward surge. The company is set to report full second-quarter results in a couple of weeks, giving management a big stage and a results-based platform from which they can continue chasing down negative rumors.

[maya2006] 02/11/2015 20:27

Correction NOT sold these
I got a message from HL saying not sold

[maya2006] 02/11/2015 20:24

Why have bonds closed down on LSE then
I put in a limit sell order but my broker has sold these even though they fell below the limit of 53 today
Does that mean there is no market
This reminds me of another QPP where I lost 80% deja vu hope not

[michael156] 02/11/2015 16:03

This was a sensible stock before they went to the US. guess they were looking to expand their horizons etc..etc. but now they see how ruthless things can be. if it is malicious, I hope they end up getting some healthy compensation which I may drop them another line to suggest donating it to a special or initial dividend.?!

[smithie6] 02/11/2015 15:57

( Riv
Have you had 2 big losses in recent wks ...ouch.. ?
...at least you, I think, dont risk too high a % in 1 stock...so maybe not so bad overall

Too many scandals in 2015)

[michael156] 02/11/2015 15:50

Yes indeed , I'm getting too old for all this excitement , be glad when it gets back to normal !