Venture Life Share Discussion Threads

[apad] 17/10/2016 01:34

DOTD due to report on Tuesday. Poor share price performance of +5% YTD.
Like a lot of software companies their EBITDA numbers are particularly subject to manipulation.
They are heavy with cash but concentrate on growing organically. International is growing well but still too low a proportion of the whole. New business will be a key parameter.
Management looks to be competent but the company is off the radar at the moment.
apad

ps
Had another look. Too many red flags for me on PVG. Particularly sceptical about the directors and the risk involved in the change in business model to sales/insurance.
Holland and US business so why here. Warning; a very cursory analysis. I am prone to looking for reasons not to invest than reasons to invest.

[pet lover] 16/10/2016 17:09

Since I follow HYDRUS who also posts on the PVG post i can answer the above question:


PVG PROSPECTUS

Pet care plan: Fees received for the collection and management of direct debits on behalf of veterinary practices external to the group are recognised on a receipts basis. A flat fee is received for every direct debit collected;

[hydrus] 16/10/2016 11:36

Thank you lizafi helpful

[hydrus] 16/10/2016 11:34

Dacian I don't know for sure but I had a go at calculating it as did Petlover on the PVG thread so worth looking back though. We estimated between £18 - £22 or so I recall.

[lizafl] 16/10/2016 11:34

AJ Bell Youinvest have a list of IPOs/new issues, including rumoured ones:
hxxps://www.youinvest.co.uk/markets/ipo

I've no idea how good they are at keeping it up to date as I only spotted it a week or so ago when I was looking for the Tritax Big Box offer.

[hydrus] 16/10/2016 10:40

They will likely only be offers that they have available for their clients, so a very small fraction of IPOs.

[lauders] 16/10/2016 10:38

Your broker should have a list if they are worth their salt I would have thought. After all they have to be aware of these things for clients surely. Even my Selftrade account has something I usually ignore on their log-in page asking clients if they want to buy any shares in a list of IPOs they list. Current list for example is:

Tritax Big Box IPO Opening date 29/Sept/2016 11:00 HRS Closing Date 13/Oct/2016 0:900 HRS

[hydrus] 16/10/2016 09:53

Modform I have never found a really reliable site for IPOs. I used to use Allipo but they seemed to stop updating their calendar - I also use LSE now which is better but as you say not perfect. They also have a list of recently floated companies in a spreadsheet which seems more accurate but of course it's after the fact.

[modform] 16/10/2016 09:48

Hydrus, where do you find the new issues. I look at LSE new and recent issues but have found it to be very poor and not always accurate. I sometimes ask my broker but that means I need to remember to phone them up.Good apad, I thought you may enjoy that. Another one, not a recent issue that you even have more laugh is VLS, enjoy....

[hydrus] 16/10/2016 09:20

They used to own vet practices but not anymore - sold them at a good price.Looking ahead seems fairly quiet on the IPO front for AIM. Always worth keeping eye out for new issues although I tend to find only maybe 1 or 2 a year interest me.

[apad] 16/10/2016 08:50

I had a quick look at PVG a while ago and decided it wasn't my sort of company. I maybe doing it a disservice, but I classified it as building a business from individual businesses.
I remember the laocal dentist laughing all the way to the bank when Oasis came along and the estate agents hilarity at big business paying massive multiples.
DPH is more my sort of company.
As I say it was a while ago and I may have grasped the wrong end of the stick.
apad

[hydrus] 16/10/2016 07:48

So assume you own PVG then.....;)G4M is a shop. Boo is a shop. It's a small holding for me as it doesn't really fit all my normal criteria - a punt if you like but growth rates are very high so could work out. I don't know anything about PRISM but had a quick look at market cap vs broker predictions for next two years and the two things look out of whack to say the least.

[apad] 16/10/2016 02:22

Blimey, folks.

Reality check needed.

G4M is a shop? Depends on a new generation making its own music?

PRSM: haven't laughed so much in a long time. Thanks mod. Used to run a research group developing new software languages for AI, back in the day. Every generation rediscovers AI and robotic wet dreams - it's all about attracting mad government research funding and now they have discovered the wet dream start-up. Great advertising - snake oil salesmen aren't dead, they've gone hi-tec. Keep taking the profits, whilst the next tranche of dreamers leaps on board wetting their nappies.
apad

[modform] 15/10/2016 17:18

G4M has impressive growth and is unique, the pe is high but peg is still low.PRSM is very unique and makes no profit but very impressive growth with a lot of high recurring revenue. Apad may hate this one.It is starting to feel like a dotcom era , with every IPO is running away with PI chasing the sp, all fine as long as you remember to bank some profit along the way.

[hydrus] 15/10/2016 17:05

Should say alongside solely organic growth, high level of director ownership and low number of shares in issue.

[hydrus] 15/10/2016 16:46

Understood, however I suspect if they did that the opportunity might be gone - the quicker they get vet hospitals signed up and trained in the US the better as that means recurring revenue starts to flow in early. They have a degree of first mover advantage there as petplan concept relatively underdeveloped in US. No doubt if it becomes successful others will follow. Anyway I'm happy to see how it plays out as think they have a good chance of creating a very profitable business with sticky recurring revenue, the kind of business I like. Not too many other small caps with those characteristics around.

[hydrus] 15/10/2016 10:35

G4M is powering forward for me at moment although might be getting ahead of itself now. Expecting a pullback but who knows. Not invested heavily there though.

[hydrus] 15/10/2016 10:33

BVXP - managed to fully build the stake I wanted pre recent rise so will just sit on hands now. PVG - gross margins are 96% and central overheads relatively low. Key is scale, if they sell enough pet plans they will have very high margin, recurring revenue. You are right though that it's early days. Currently very low revenue even though it is growing at 50% plus. In my opinion they could, if they chose to, be making profits now but they are rightly investing heavily to grow.

[apad] 14/10/2016 16:46

BVXP is 3.5% of portfolio now. 39% nominal gain.

Nothing else on the horizon.

apad

[lauders] 14/10/2016 11:50

Thank you APAD. I took a small number of BVXP today after too long thinking about it! Should have been last week but the decision has been made at last. Not sure whether it will be the kiss-of-death or not that I now have an interest but "you have to be in to win". Sold off a partial losing position in NANO to fund this buy ;-)

Did consider ditching my FFWD holding but my gut says it will be exciting one of these days!