Earthport Share Discussion Threads

[silkstag] 25/2/2016 17:19

CheshireMoggie forgets he was still foolishly bigging up EPO in March 2014 despite the dire interim numbers. My 7-point reply ended with a good call on valuation.

"SilkStag 4 Mar'14 - 14:15 - 10020 of 12043

CM ... Taking the 7 together, the interims were dire. Value was destroyed in many dimensions. Valuing at x14 prospective core turnover seems excessive, but still only gets you to a 19-20p share price."

TOW makes a fair point. Rampers in the past 2 years should have the good grace to admit they have been duped and thunderously repeatedly jolly-rogered by the pirate crew that is scuttling the Earthtanic: playing 'ram the lossberg' and 'lie about forecasts' and 'drown the mug passengers', the only games they are good at.

The turnaround has failed, trust is bust, so back to the 2010 turnaround price of 10p, forgiving that there are x6 shares in issue. Market cap would still be x6 the turnaround valuation, which looks too much.

10P AHOY, ARRRGGGGGHHH, SHOUTS CAPTAIN HOOK (I MEAN HANK).
all imho

[silkstag] 25/2/2016 13:17

EPO posted its first dire bombshell results under new management after that date; March 14. So I changed my view based on new information 2 years ago. The market has been slow to see the wisdom of my changed view based on a series of negative warnings about management ethics, integrity and competence and filthy putrid numbers. I have been urging STRONG SELL since then. Still true! All imho

[silkstag] 25/2/2016 11:10

Another lossberg has ripped another hole into the hull of the lurching doomed Earthtanic.
Another governance disaster to go with the serial breaches of AIM rules by issuing and not correcting grossly inflated forecasts, suppressing notification of lead trade shareholder starting to bail out, and peddling porkies about reaching breakeven.
Sales director then marketing director both bailing in 2015, the latter being covered up by EPO even though she was listed as senior management in the accounts being approved.
Confidence was already destroyed. No surprise there is a rush to the lifeboats. Martini-sipping mugs stumbling away from the bar, frankly, deserve this or indeed the 10p that was my price target...which might need to be downgraded now.
Soon EPO will have to admit that it already made a worst ever -£5.5m loss in six months to 31 Dec 15, which will rip another hole in the Earthtanic hull.

ADMIT YOUR ERROR AND FIND A LIFEBOAT SEAT WHILE YOU CAN

All imho

[caradog] 25/2/2016 10:58

Do I understand this correctly? Baydonhill paid out 5 million, a quarter of EPOs cash reserves, on behalf of a client, before the client had deposited the money?

If so, please could I have a million? The cheque's in the post.

[chadders] 25/2/2016 10:36

That's a very unpleasant surprise.

[homerdude] 24/2/2016 07:57

Ah, so you were talking to yourself provoking a discussion. I am sure when the ship sinks or floats you will not need provoking.

[silkstag] 23/2/2016 14:56

Anyone else (if not you or your mug buddy chadders who bought in the 30s and high 20s) who thinks 25p will crack when management rip another hole in the Earthtanic by admitting the worst ever interim loss in this failing wreck's history.
GET INTO A LIFEBOAT WHILE MARTINI-SIPPING MUGS AT THE BAR LEAVE YOU SPARE SEATS.
All imho

[homerdude] 22/2/2016 14:00

Silkstag,You agree 25p will crack. Sorry who are you agreeing with?

[silkstag] 22/2/2016 13:12

I agree 25p will crack soon.
Worst ever loss in 6 months to 31 Dec 15 could do it. Maybe reporting -£5 5m loss having lied about breakeven in March 15.
It will sink to 10p again but don't know when.
All imho

[homerdude] 22/2/2016 08:10

Chadders, thin ice ? It often cracks

[chadders] 20/2/2016 13:52

Thin ice methinks

[silkstag] 19/2/2016 18:38

Caradog, great spot that she left a CV gap rather than mention her 10 months at EPO. She left mid month like there was an incident which forced the issue?
Maybe she is suing EPO for constructive dismissal? Horrible if the first female in EPO senior management was harrassed or bullied out of the company? That is speculation but that CV gap is peculiar. Can anyone check if there is a dispute? DYOR!

[silkstag] 19/2/2016 18:30

All the non-execs are buddies with CEO. That is how they were all chosen. No governance on the Earthtanic. Not long till CEO admits but says it is somehow great that a record loss to 31 Dec 15 rips another hole in the Earthtanic as it sinks back to 10p again.
All imho

[arf dysg] 18/2/2016 10:09

...depends how he got the 550,000 shares.


Indeed, 17 years in the past was a long time ago. Things were very different then. In particular, it was before the banking industry completely FWOOKED up the world economy in the credit crunch.

[davidosh] 17/2/2016 22:39

It amazes me that they make such a play about his banking links and the fact he was CEO at Bank One....

Earthport plc (AIM: EPO.L), the leading payment network for cross-border payments, is pleased to announce that John B. McCoy, the former Chairman and Chief Executive Officer of Bank One Corporation, has agreed to join Earthport's Board as a Non-executive Director.


He actually retired 17 years ago in the last century lol and agreed he is far from independent but does have 550000 shares so presumably he has confidence in Hank.

[caradog] 17/2/2016 21:15

The mystery of Mia Shernoff is solved - she left EPO in October to become head of global marketing at First Data in New York.

Interestingly, she has left a blank in her CV rather than including her time at Earthport.
Her position was taken by an employee taking up her fourth position within Earthport within 15 months:


For once I agree with Silkstag, it is not good governance to appoint a non-exec seemingly close to the CEO. That makes 10 board members, all men.

[y0u] 17/2/2016 09:19

Desperate times.....

[silkstag] 17/2/2016 08:39

The Earthtanic just hired a 72 year old buddy of the ceo as they used to serve together on a college trustee board. So regrettably zero independence from ceo. Not what it needs. Imho.

[silkstag] 08/2/2016 12:20

After fy15 multiple late downgrades from £0.5m profit to -£8.7m loss; and fy16 first downgrade from -£0.5m to -£6.5m loss (more downgrades to follow) management have scuttled any confidence in the Earthtanic.

Having hired 2 new brokers to try to keep it afloat with frenzied pumping, management are delaying the inevitable sinking and ensuring a batch more martini-sipping mugs are also drowned at the bar.

LIFEBOATS WILL RUN OUT. Sinking to 10p like 2010 beckons.
all imho

[silkstag] 04/2/2016 08:48

Is this the month that nanagement admit they broke the Earthtanic by slamming into the largest ever six month lossberg?

Or will they cover it up until March? As they are crooks with contempt for aim rules it is hard to say.

Earthtanic should lurch further down into the icy water when the slam is admitted or leaks.

LEAP INTO LIFEBOAT WHILE MUGS ARE STILL SIPPING MARTINIS AT THE BAR (if you want above 10p)
All imho

[arf dysg] 01/2/2016 17:21

davidosh (11994): "Are there new broker forecasts released today then ?"

Rather a broker forecast than a forecast of being broke.