1pm Share Discussion Threads

[ihavenoclue] 22/9/2010 10:05

OK

Wow this is doomed .... bust it is then :)

[the_beagle] 22/9/2010 09:34

ihnc That worked a treat! Keep it up!

[ihavenoclue] 22/9/2010 09:26

beagle .... maybe I should be more doom and gloom ?? ... here goes ...


Oh dear ... dropping like a rock ... 0.02p here we come ...

:)

[the_beagle] 22/9/2010 08:55

And whilst I was typing up we go!

[the_beagle] 22/9/2010 08:53

ihnc I think you are being over pessimistic there. In my opinion there is a forced seller and the mms will not up the bid for now as they have the shares they want. However there are constant buys the last few days, and the mms have upped the offer today.
I would not mind taking a big chunk at say 0.042. I use tdw and their system cannot cope with limit orders in that sort of amount or I would put a cheeky one in for a load. Might phone them later.

[ihavenoclue] 22/9/2010 08:23

Slow death back down to 0.04p ... another back drawer share for me LOL

[the_beagle] 21/9/2010 11:59

Just bought some more at 0.049p. I can't understand this level. Seems odd that there is just so little interest. I would have thought that those who took up the 0.07p placing 6 months ago would be in for more following what I saw as a very positive update.

[growbag] 20/9/2010 13:34

Relevant story on bbc website.

Small firms still struggling to get loans from banks:



Encouraging for businesses like OPM.

[knowing] 19/9/2010 17:03

In the first quarter to 31 August 2010 the value of new leases agreed was 402%
ahead of the equivalent period last year and has been significantly ahead of
management expectations. In total the Company has completed GBP1.7m of new
leases which compares with GBP2.5m for the whole of the last financial year
ended 31 May 2010. The level of new leases has also had a positive effect on
the lease portfolio which has grown to GBP7.71m as at 31 August 2010 (31 May
2010: GBP6.55m).

Looks good value even though they have to raise more cash.

[22hoper] 15/9/2010 18:18

Good fun here, but mvc is the one.
High gold grades and directors parting with their own cash

[ihavenoclue] 15/9/2010 15:21

Earlier it was buy for 0.06p and sell for 0.06p ... I know as I dipped my toe in

[the_beagle] 15/9/2010 15:00

At the moment you can buy at 0.0576 and sell at 0.0578p with TDW. Therefor reported trades could be either bought or sold!

[the_beagle] 15/9/2010 14:02

Thanks ihavenoclue. These fiddling sps drive me mad, but you do get a lot for you money!

[ihavenoclue] 15/9/2010 13:37

Hi Beagle ... do you mean 0.2p and 0.1p ?

[the_beagle] 15/9/2010 13:28

ihavenoclue......Thanks for pointing that out, now ammended.

The dirctor guarantees were listed at the end of the last company report. I guess that they were required to get necessary funding a couple of years back during the banking crisis.It would lake a very wealthy man to stump up any more which might be a problem. However if those loans are running down he might have scope to go for more on what I would expect to be better terms.

The shares were 0.2p plus earlier this year and with the improved climate I can see 0.1p plus fairly easily allowing for the greatly increased, but still small, capital.

[ihavenoclue] 15/9/2010 13:04

Hi Beagle ..

You know a little more than me then about the guarentees but can I correct something ?

"the_beagle - 15 Sep'10 - 12:42 - 668 of 669

"The directors personally put up much of this year's placing at 7p and have also provided personnal guarantees for nearly £2 million to the company's funders."

The placing was at 0.07p ... at 7p that is one hell of a drop :)

Maybe it is worth a punt then IF there will be no further placings ?

============================

Additonal :-

I had a look at the Final Results and found this :-

"I am pleased to report that the new financial year has started positively helped
by the March fundraising. In the first two months of trading we have written
levels of new business in excess of budget. This is reflected in the loan book
which as at 31 July 2010 has increased to GBP7.4m. The challenge remains
accessing funds to support portfolio growth and to that extent we are in
constructive discussions with a number of funders. "

IF they can pull it off without further placings it will be a good bet. IF they have the director guarentees why look for funders though ?

I am currently in two minds ...

[ihavenoclue] 15/9/2010 12:44

the_beagle ... they didn't .. I am reading in to the last sentence.

"Michael Johnson, Chairman of 1pm, commented:

"We are delighted to report such a positive start to the year. The hard work of the team together with the benefits of the March 2010 fundraising are starting to yield rewards in terms of financial performance as the operational gearing effect of our business model starts to impact. We are very encouraged by the levels of business we are securing and given sufficient resources we are confident this can continue."

I take the "given sufficient resources" as meaning if we have a placing we can continue to see this growth. Where else will the secure them from ? I may be wrong but it is AIMHO

It also states this in the RNS ...

"In order to continue to grow the business at the current level there will a
requirement to access further funding lines."

Regards
IHNC

[the_beagle] 15/9/2010 12:42

My take on this company is that they appear very transparent, they have written off in full any bad debts, they are running a very tight ship, they have found a niche market with greatly reduced competition which they are dealing with conservatively and subject to increasing their borrowing capabilities, the future looks very bright.
The directors personally put up much of this year's placing at 0 .7p and have also provided personnal guarantees for nearly £2 million to the company's funders.
They obviously need new money for their projected expansion but I don't think they need to resort to a further placing.

[the_beagle] 15/9/2010 12:15

Where did it say they need another placing? I must have missed that bit.

[ihavenoclue] 15/9/2010 11:51

the_beagle ... no ... I was having a look ... Induna's post now makes a lot more sense

It was an average RNS ... it meantioned that the management feel it COULD do well but they basically said they require another placing which is why the rise, I don't feel, will be sustained.

[the_beagle] 15/9/2010 11:30

ihavenoclue Are you a holder here?

[induna123] 15/9/2010 11:10

ADVFN still haven't updated the financials. There's 3,158,979,085 in issue, not the reported 772m.

The market cap is actually £2m.

[induna123] 15/9/2010 11:08

Yes, they could have gone bust if it wasn't for that desperate placing.

[ihavenoclue] 15/9/2010 09:52

And as if by magic down it goes ...

[ihavenoclue] 15/9/2010 09:38

"1pm is pleased to announce that it has completed a placing of 1,639,999,999 new ordinary shares of 0.06818 pence each ("Ordinary Shares") at a price of 0.07 pence per share raising new monies totalling approximately GBP1.15 million, before expenses ("the Placing"). In addition the Company has issued one warrant for every six Placing shares exercisable at 0.07 pence per share."

Very strange that it shot up to the place price and stopped ... also £1.15m is twice the current share price For a company to be only worth half of one of it's placings 6 months later is shocking.