Eight Peaks Share Discussion Threads

[bionicdog] 20/12/2018 08:57

But David , you don't have that much to lose. One look at your house on the Shanklin estate shows us that. Could it be that you've been lying about your trades?

[zipster241] 20/12/2018 08:44

8pg need to write off their shocking investment in AMED, which, under the careful stewardship of Karim, is about to be delisted and effectively privatised. Another large loss on a legendary investment. Karim on the other hand will continue to take 60k pa plus expenses. Nice work zaf, me old chum.

[michaelsadvfn] 20/12/2018 08:22

david,

you also lost £330,000 on WTI.

chin up !!!

[kemche] 20/12/2018 01:06

bionic, :)

[mudbath] 19/12/2018 22:13

"Zafar Karim's "timber" moment is upon Eight Peaks ref Virtual Stock!

Following on from the piece published here at ShareProphets, the long awaited release of Eight Peaks (8PG) principal investment Virtual Stock Holdings yesterday reiterates the point we made as to how the end game is now upon Karim and his long suffering shareholders.

Check out the report at Companies House. For a business supposedly worth £70 million the accounts sure do not look to support anywhere near such a valuation to Mr Karma.

Firstly, the company looks to be balance sheet insolvent with just under £4 million of near term net liabilities. There is no P&L breakdown but given that the company is not in a position to pay a dividend then the P&L reserve movement of just under £3 million gives a pretty accurate estimate of losses incurred last year.

As I stated in the last piece here - "I rather suspect that VS is looking for fresh funds and any new investor or existing investor will cut the valuation materially. More worryingly for 8PG shareholders is that as per the conclusion below, the problem is that 8PG has no funds to hold its corner in any raise." it is a dead cert that the company will be looking for fresh funds of at least £5 million if not more in the near term and sadly for Eight Peaks shareholders Karim has run 8PG's coffers bare and so dilution on a massive scale if he tries to maintain VS exposure looks all but inevitable.

The other worrying element of the accounts is the ballooning of the trade debtors figure from just under £400,000 to near £3 million. This implies difficulties in collecting on debtor cash and will only exacerbate the looming cash crunch. The non trade debtor figure of near £5.2 million owed to the holding company implies that this capital has come in as a loan and not as equity and again gives an indication of the looming minority equity wipeout we suspect is about to occur with this being converted into equity if other minorities do not step up in a raise. Sadly this is how business works - take advantage of weak situations.

My advice to Eight Peaks shareholders is get out now while you can as I cannot see a single solitary reason at this juncture to support a new equity raise in this company that would, in any event, all but wipe out current equity holders. De-listing looks to be the next step. Sell."

RICHIEBOY 666 (LSE)

[belt n braces] 19/12/2018 20:40

funny but for once Corbyn was right, pity he had to deny it

[belt n braces] 19/12/2018 19:20

mud: you are a stupid woman

[mudbath] 19/12/2018 18:32

RENE...............YES !!!!

[rackempackemandstackem] 19/12/2018 15:02

The fallen Madonna with the big boobies?!

[bionicdog] 19/12/2018 14:40

Kemche filtered.

[kemche] 19/12/2018 14:32

Roll on the £3.77 party!

[kemche] 19/12/2018 14:31

Like B'n'B I am buying more!

[rackempackemandstackem] 19/12/2018 14:16

It really is impossible, imo, to think of one single reason why this share is now an investable proposition.
Would anyone care to have a go?

[chinese investor] 19/12/2018 13:33

The £3,800,000 cash raise has gone !

Notion's £4,500,000 has been spent as well !

[uncle jack] 19/12/2018 13:16

Well a Great shame for us all,but it really does look desparate if the share price reflects the state of our investment(and it usually does). Perhaps it will be taken private at a knock down price? Anyway I've had money tied up here for over 15 years( our leader at the time was sniffing around Joe BLOGGS jeans).On that basis perhaps
somebody out there could send me a straight jacket for Christmas.Anyway merry Christmas to all leg/8pg investors.

[porschepanamera] 19/12/2018 12:12

Can not see where any income will come from here, the Virtualstock can't be worth anything like £70m it looks from results as it's not worth much at all, am I missing something here?

[chinese investor] 19/12/2018 12:00

VS's CFO Mr Turkey said the company was looking forward to a rewarding Christmas !