Fieldbury Share Discussion Threads

[double6] 08/6/2010 09:33

Good to see the bid move just prior to last buy.

Maybe the MM's do have wind of positive news ??

Even if it's not positive - current MC at a big discount to Cash - with positive news.....

[outsourcer] 08/6/2010 09:30

we are on the move

[double6] 08/6/2010 08:25

Could just be the 10k buy at 8:02 ?!?

Let's hope.

[outsourcer] 08/6/2010 08:24

looking at the early rise, I am guessing something had happened regarding the O/S monies

[induna123] 07/6/2010 10:12

That's the point. Eventually the market cap will reflect the cash balance. There's no income or revenue whilst mgmt are paying themselves nicely.

[outsourcer] 07/6/2010 09:48

sirraman - because they are too busy taking us shareholders to the cleaners !

They keep drawing a nice salary and once a month issue an RNS saying they are chasing the debt and are assured they will be paid, blah, blah, blah. Why should they worry and exert themselves finding ways to invest what money they have left and adding any shareholder value.

[sirraman] 07/6/2010 09:30

what are the directors doing ......why have they not taken Mr Narang to the cleaners.......??

[double6] 07/6/2010 08:32

No news is .......

[outsourcer] 04/6/2010 16:06

double6, agreed it looks attractive, especially with no debt, that is why I took a small position at the start of the year, but it has to be worrying that there has not been one mention in almost a year of what their plans are if they aren't going to invest, then at least distribute something to shareholders rather than the directors milking it all

[double6] 04/6/2010 15:20

Still cash at twice the current MC.

Maybe they are awaiting the $1.5m being sorted (or not) ??

[outsourcer] 04/6/2010 13:58

I agree with fireplace, at June 2009 after the diposal of its remaining investment it had $2.4M cash and the $1.5M was due. It is now June 2010 and the directors appear to have done nothing and the cash was $2.1M at 31-Dec 2009 so they spent $300K on what, 6 months later on the same basis we must be around $1.8M and still no sign of the $1.5M being received.

The directors appear to be happy to take a nice salary but arent really adding any shareholder value in my opinion

[fireplace22] 04/6/2010 13:16

Depends on the directors motivation. Provides for nice salaries for the next couple of years or so. They dont seem to have made any headway on the acquisition front.

[double6] 04/6/2010 12:54

So now capped at £650k - cash (likely) to be around £1.1/£1.2mln. Still hopeful of the £1mln coming in. Even without that amount, is this now undervalued ??

[outsourcer] 04/6/2010 12:11

judging by the fall I guess Stear has met with Narang and been told he isn't getting his $1.5M owed.

[outsourcer] 01/6/2010 17:10

Per latest RNS "Cash resources were approximately US $2.1 million as at 31 December 2009" - why cant they tell us what they are now, they must know, either that or thsy are spending it a lot quicker than they should be.

I bought into this on the back it being a cash shell, hoping for good things, but I have an awful feeling that it is just a cash maching for the directors.

[outsourcer] 01/6/2010 16:45

looks like we are f@Cked, I reckon they should still be on about $1.5M, but seem mainly concerned about preserving that rather than looking at ways to invest it

[fireplace22] 01/6/2010 16:14

Well we have news now. How much are all these RNS's costing, I'm sure they dont come cheap.

[outsourcer] 01/6/2010 08:00

red open to the day, looks like we are heading down the pan

[outsourcer] 01/6/2010 07:58

tivoli - that is my concern, every statement they have made this year, only refers to cash held at 31-Dec 2010 of $2.1M, yet we are now in June, if the expenses per the last accounts are consistent then at just over $1M a year they are burning through about $85K a month, on what I would love to know

[tivoliworldgaming] 01/6/2010 07:55

Once again no money has been paid back to shareholders. I wonder if Fieldbury has much cash left.

Better to let this one fall to 1p, so at least you lot can then average down to make something worthwhile here.

[outsourcer] 31/5/2010 22:44

I find it strange that the results were released at 5pm on a friday before a bank holiday, I am concerned that they haven't found any investment opportunities and are giving close attention to the running costs of the business to minimise cash outflow to to find ways to preserve the cash balance of the company, it would be interesting to see what the expenses are to date considering it is just a cash shell at the moment and how much cash is left and what the directors salaries are.

I also doubt we will see the money due without a court case

[sirraman] 28/5/2010 17:16

OK ...so Mr Narang will turn up in his mercedes with a black bag full of $1.5m in cash at soem Supermaket car park on Sunday to settle the accounts ...as the banks are not open till Tue now when we will have a confirmation RNS to that effect..... and maybe the share price will go back upto 3p ... :o)

[outsourcer] 28/5/2010 15:30

they are probably hoping with bank holiday that everyone will forget about the money due !

[fireplace22] 28/5/2010 13:02

Seems odd that they chose Sunday (May 30th) as the day for final payment.