Inspired Cap Share Discussion Threads

[alimo] 09/2/2015 22:28

Surely this deserves a NOTE and explanation in the Accounts, no? In view of poor public opinion of banks, AND LACK OF REPORTING ON DISAPPEARANCE OF MOST OF RENOVO INTELLECTUAL PROPERTY, surely this now ought to be squeaky clean - at least while some of us here have the ability to spot sizable blips.

[battlebus2] 09/2/2015 21:05

Ditto PJ ,not a large holding by any means and not bothered either by the intangibles, this is what happens when you've acquisitions and most accountants will tell you to leave the intangibles on the books.

[pj 1] 09/2/2015 10:46

Not an expert by any means but are not all Banks technically insolvent ? Or has that been tightened since 2007?

For my own research I always ignore Intangibles anyway, for the record only a very small position here.

[shaka198] 09/2/2015 09:46

I assume this was the premium paid over asset value paid for Ultimate Finance.
Agree on liquidation this would disappear.
Most acquisitions above asset value would create something similar, I guess, so probably not unusual? Welcome comments from the experts?

[winsome147] 09/2/2015 08:55

Can anyone justify the 15m intangibles on the balance sheet, especially since this is a relatively new company? Nearly 40% of their NAV is intangibles. No small finance company like this should have such inflated intangibles. Look at peers such as 1pm and S&U - they have no intangibles on the books at all. The only value in such a company if it were to get into trouble is in the loan book. Intangibles would instantly evaporate. Simple as that.

I hear the management has good track record at Capital One but then why did they decide to go from being big fish in a big pond to tiny fish in a small pond and why inflate the balance sheet like that?

Very specultative IMHO. I take it most readers on here are traders rather than investors.

[battlebus2] 06/2/2015 17:26

Yes a good day , i suspect we will be trading much higher in a few months..

[shaka198] 06/2/2015 12:00

Clearly prompted a lot of buying activity today which must be good.

[battlebus2] 06/2/2015 08:01

Great stuff mbronco1...any targets mentioned?

[mbronco1] 06/2/2015 07:56

Good article in IC. Tipped for bargain po
rtfolio. This might be the kick start needed.

[battlebus2] 02/2/2015 11:17

Slowly climbing back to that 17p level imv.

[battlebus2] 23/1/2015 13:47

Well a tick up anyway....

[glasshalfull] 23/1/2015 11:59

21.7p paid for 2,500 shares...surely a typo :-)
(11:55 trade)

Lovely if it was a sign of things to come....


Regards,
GHF

[battlebus2] 21/1/2015 17:02

Good to see the bid back at 14p, still a lot higher to go imv..

[shaka198] 20/1/2015 15:08

Am tempted to top up some more, further big trades today?

[tiltonboy] 20/1/2015 14:54

I also added yesterday at 13.95p. Had been fearing a poor statement given the price action recently.

[battlebus2] 20/1/2015 13:35

I have also bought in here, like GHF says could prove to be an excellent buying opportunity.

[glasshalfull] 19/1/2015 23:53

I was one of the buyers today.

As mbronco1 noted, still no mention of profitability so an investment is still subject to ones confidence in the (experienced) management team delivering. They certainly have the pedigree.

As a previous investor in UFG (prior to its acquisition by Renovo that subsequently morphed into Inspired Capital) I simply sold up and have enjoyed gains in peer OPM these last few years.

With the significant annualised growth of 75% in H2 this now looks an ideal opportunity to pick up stock at an advantageous price. Time will tell...

Kind regards,
GHF

[shaka198] 19/1/2015 14:14

Quite a bit of buying today?

[gnnmartin] 19/1/2015 12:50

Agreed. Turnover impressively higher, but as you say, no mention of how profitable the turnover is. Could be perhaps because it takes time to be sure there will be an acceptably low level of default. Without more detail, I'll resist the temptation to top up.
Nigel Martin

[mbronco1] 19/1/2015 07:17

Good to get a trading update, but no mention of profitability or creating shareholder value.

[shaka198] 17/1/2015 06:47

We could certainly do with more updates to try and understand better what is going on. Presumably the managers want to earn their potential share options?

[alimo] 17/1/2015 00:09

Surely this is being forced down. There was a smell when Renovo went pear shaped, and perhaps we have to start asking for proper updates, before something fishy is hatched without our authorisation. Who are the BoD looking after - all shareholders? - or just the ones they have to look after. I'd like to know that the merger, and new managers, and seemingly expensive additional credit facilities are all working together to achieve the growth/PROFITS we have been 'promised' with a small p.

Why all the silence? Surely we don't give bonuses until shareholders have GROWING dividends reinstated, and the 30% loss in share price is reversed, and a 50% lift to 29p is achieved - with NO dilution even on the horizon!..

What is INSPIRED about plummeting 30% from 19 to 13.5p in less than 12 months. What was the point of the merger into SME finance if the falling share price is what has conspired to wipe out even more of our CAPITAL

I don't want to start hearing that some manager or employee scandal or conspiracy has managed to defraud us even before we get off the ground. You never know what to expect these days after all the horror stories that have come to light in the finance industry over the last ten years. Are we immune? I certainly hope we have put into effect the strongest of audit protections to prevent the sharks that haunt the finance world from siphoning INSC dry..

[shaka198] 12/12/2014 16:59

Rather large purchase today?

[shaka198] 28/11/2014 17:10

All rather soggy, much like the weather, what is the case for hanging in here?

[123prezzie] 30/10/2014 17:38

Nigel. I agree with your maths. The only minor point is that it appears the final 3.5% would not be payable in the (unlikely!!) event that the money is repaid before 31 Jan 15. The whole scenario is pretty aggressive with an increase in borrowing facilities from £34m to £60m and talk of raising a minimum of £10m net of fees by a share issue. The opportunity is clearly there because banks are not doing anything for SMEs. Management bonuses are based (at least partly?) on share prices so we must assume all this activity is worthwhile.

Incidentally, PIP announced their final results on 5 Nov last year so, unless the figures are proving hard to add up, we should hear early next week. I have sold most of mine as I don't see how they can dig themselves out of the debt hole.