Cornerstone Fs Share Discussion Threads

[z1co] 17/3/2024 09:36

For those that do not know who this lying fraudster really is , the following link will help:

[z1co] 16/3/2024 23:49

PATT the lying con merchant can deramp all he wants to , the company will continue to exceed forecasts.

Broker forecasts prior to 2023 trading update:

2022: £4.3m
2023: £5.7m
2024: £7.6m
2025: £10.3m

House broker has raised 2024 and 2025 forecasts to £11.3m and £13.9m but these will be upgraded yet again after the Q1 trading update next month.

[drradcliffe] 16/3/2024 21:47

However, Robert O'Brien is not a director of the company. He's based in Dubai and his job title is currently Chief Commercial Officer.



hxxps://fxnewsgroup.com/forex-news/payments/cornerstone-fs-hires-robert-obrien-to-head-new-dubai-office/

[purchaseatthetop] 16/3/2024 20:59

Zico….

if something sounds too good to be true then it probably is

[z1co] 16/3/2024 20:14

Now this is his post nearly 12 months ago:

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

purchaseatthetop29 Apr '23 - 05:42 - 1889 of 2167
0 4 1
Zico decided to continue posting about me on ENET, so I decided to look further on CSFS as I said I would. It is really scary for investors and you must know:

Robert O'Brien:

27/9/21 RNS: @The new office will be led by Robert O'Brien who has joined Cornerstone, as General Manager APAC and Middle East. Mr O'Brien was previously at Vorto Trading Ltd ("Vorto"), where he was the largest revenue generator and built a business line based on inward investment into the UK from Asian clients."

and "Robert spent the early part of his career at First Rate FX Ltd, a foreign exchange broker where he became a Director. Over the last year, he has focused on supporting customers in Asia invest in the UK."

Vorto Trading is a small FX company that he has been at for a few year. He was with First Rate FX Ltd till 2012.

What the RNS does not mention is ECO Global Markets Limited.

This company was incorporated in 2010 and Robert was the 45% shareholder along with his wife and another holder owning the remaining.

The accounts to 31/3/12 filed on 30/8/12 show net assets of £53,704. All fine and good:


On 24/1/13 a provisional liquidator was appointed.
The 20/9/16 report on page 4 shows a deficit of £3,371,406.
The 2/9/19 report on page 7 states that there were high outstanding director loans of £216,191 that could not be collected and that high salary payments appeared to have been made to family members.

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

[purchaseatthetop] 16/3/2024 18:03

Just watch out. The brains and money behind this company is Robert O’Brien who is your COO and largest shareholder who owned Eco Global Markets Ltd

“Eco Global Markets Limited, one of the companies wound up this summer, took more than £8.5m from more than 230 investors, 50 of whom were aged over 70.

Caroline Abrahams, charity director for Age UK, said: "It is despicable that these companies seem to home in on older people as an easy target.

"Scams can take place on the doorstep, by phone, on the internet or through the post and the sad fact is that if something sounds too good to be true then it probably is.”

Read that last sentence very very carefully!

[66fingers] 16/3/2024 17:46

Z1CO, thanks for sharing your thoughts. I'm very much a novice investor and so it's interesting to read other people's thoughts and views

[z1co] 16/3/2024 11:25

The strong growth experienced by the company in 2023 is likely to increase even further in 2024 and 2025

The actions taken by the management ever since the new CEO , James Hickman was appointed in 2022 which led to them increasing and enhancing the sales team.This has had a very positive effect on the business , significantly increasing number of customers and average transaction value.

On 24/10/2023 the company issued full year guidance of at least £8m , they had such a strong final quarter and the company exceeded their guidance yet again.

The granting of the Canadian license in February is likely to fuel the growth even further in 2024.

The company also awaits for approvals in UAE this year and Hong Kong in 2025.

House broker is forecasting 2024 revenue of only £11.3m and 2025 revenue of £13.9m , the company is likely to smash these very conservative forecasts.

The company is growing very strongly and will increase it's revenue by at least 50% this year to £14.4m and even that may be conservative.

My new targets for the share price:

By July 2024 ......50p to 60p
By December 2024 ..in excess of 80p

[z1co] 15/3/2024 15:24

Q1 trading update will show the momentum from H2 2023 continuing in the current year.Revenue growth in Q1 is likely to be in the region of £3m to £3.5m , being well in excess of 50% higher than last years first quarter.

The house broker will have to raise it's forecasts after the Q1 update and continue raising them throughout the year.

[66fingers] 15/3/2024 12:31

Wow, sounds very positive but results next month will demonstrate what progress has been made since the turn of the year.

[z1co] 15/3/2024 11:24

To increase the revenue from £9.6m to £100m in 5 years will require a compound growth of more than 50% per year.If they can achieve that , then i expect the share price to also increase many fold over.

[z1co] 15/3/2024 11:15

The CEO said in the last VOX interview that his aim is grow the revenue 10 fold in the next 5 years to £100m.

James Hickman is always very conservative in his predictions and likes to over achieve so that it's most likely we'll see that revenue target before the 5th year.

[z1co] 13/3/2024 20:20

Decent buying today , 5 x 10,000 buy trades with 29.6p being the highest.

Share price will exceed 40p after the Q1 trading update next month.

[z1co] 13/3/2024 15:44

After the regulatory approval in Canada they want to get the approvals in UAE and Dubai this year and Hong Kong next year.

[66fingers] 13/3/2024 15:16

Will be interesting to see when the necessary permissions are received to transact in their currencies, they've certainly chosen 2 countries that comprise significant wealth.

[z1co] 13/3/2024 10:14

in January 2024 the CEO said that to accommodate customer demands, they are expanding their presence with regulatory approval submissions in the UAE, Dubai, and Canada, and are launching new products and services. This includes expanding currency corridors to better serve customer needs.

The MSB license in Canada was granted on 13th February.

The CEO also said they are expecting strong growth in 2024 and 2025.

[z1co] 13/3/2024 09:48

We are excited to announce that we have become an official partner of the Ladies European Tour.

This three-year partnership will see us provide foreign exchange solutions to the Tour as its players compete in tournaments across the world.

We are delighted to have partnered with the LET and look forward to working together to grow women's golf over the coming years.

[z1co] 12/3/2024 08:37

Trading in Q1 will no doubt will very strong.Revenue increased massively in last years H2 and this momentum will continue throughout 2024 like it did last year.

Q1 revenue will be in excess of £3m , up more than 50% on last year.