Avanti Capital Share Discussion Threads

[tell it as it is] 23/9/2015 09:00

Whealan I think you'll find that Mblox Ltd (company number 03049312) does file full accounts in the UK, albeit about as late as it is allowed to. The accounts to 31st December 2013 were filed at Companies House on 20 November 2014.
Revenues for 2013 were £65.6m vs £62.0m and Loss before Tax was £6.2m vs LBT of £11.9m in 2012. Obviously this is now so out of date that hard to know what its real value is.

The accounts did say that Mblox Ltd relied on its parent for financial support. That parent is Mblox Inc, and it is presumably that company that doesn't have to file accounts.

Was thinking of buying some AVA but I think I'll wait to see the Dec 2014 Mblox Ltd accounts or a bit longer !

[whealan] 27/3/2015 15:52

Either way it may be worth a top up at these levels. Mblox is in the a/cs at cost at 56p a share, which is also the NAV per Avanti share since they have provided for the carried interest in cash and there is nothing else. Mentioning an exit means that with the wind behind them it may not be too far away I would think. The AGM statement says that Mblox doesn't publish financial statements as a private company but it is registered in the UK and I would have thought they needed to file summary a/cs for public inspection. I shall have a look.

[adam] 25/3/2015 16:35

Quite possibly, but ipos' timings are chosen by the vendor and market conditions. Typically not the case for a trade sale. In the abscense of a trade buyer you would think that preparations at least be made to float. They have scale and markets receptive.

[whealan] 25/3/2015 14:57

adam

Don't you think a trade sale is more likely? The company is owned by venture capitalists who would all probably like to realise their whole investment rather than only some as it wouldn't help an IPO to be seen to be ditching the lot.

[adam] 25/3/2015 13:24

Results seemed pretty upbeat on Mblox progress. I don't understand why it is taking so long for them to make the decision to IPO.

[breakfast2] 06/10/2014 15:29

Whealan
Many thanks

[whealan] 06/10/2014 14:33

breakfast2

Last year the results for the year to 30th June were issued on 24th October.

[breakfast2] 06/10/2014 13:55

Does anyone know when is the result date?

[adam] 21/7/2014 08:27

You can see the CEO Tom Cotney here in interview

[adam] 17/7/2014 07:16

Mr Douglas Cosbert declares an interest...

I'd speculate it was this guy who runs Oodutty







Note that Spark also have a small holding in mBlox.

[whealan] 16/7/2014 09:41

Star-star . See

I don't understand why people want these things but then I am a mobile dinosaur, holding and hoping in the dark!

[adam] 16/7/2014 06:19

nope

i understand all the words individually, but not as a whole.

e.g. So how does star-star facilitate "two-factor authentication" ?

[adam] 15/7/2014 18:32

I will be inside soon, so won't be able to post, but this looks positive.

It's interesting to note that there was debt involved and that Avanti have participated in some of the capital raise (one assumes at the equity level to maintain their position). It strikes me as unusual for a company at this stage to be raising so much debt given they already have some and I would hope implies they are trading robustly enough to be able to service it.

Also interesting that they used cash to make the acquisition and not share capital.

We don't know if it was an up or down round (one assumes up) or how much was for acquisitions and how much for working capital. Operational gearing presumably quite high in the sense of infrastructure, buying power, etc. I would certainly hope that this is a pre-IPO bulk-up exercise

Don't really understand what Zoove do or how it fits in. I guess this star-star dialling is a USA thing only?

[errollc] 13/5/2014 14:03

Thanks Adam...maybe we'll get another dividend one day!

[errollc] 13/5/2014 08:24

Something good must be happening here....is it news on Mblox?