Fox Marble Share Discussion Threads

[rjmahan] 18/1/2018 10:41

Could simply be that you guys are not looking at the same company ? Unless you know for sure that eboracum is the london registered dormant one you can never be 100% sure.

Also it could easily be that Eboracum have not completed their accounts with companies house correctly - not Fox's problem.

Either are much more likely than Fox making up orders. There is no verification on what you put in to companies house so even if it did say balance sheet £300k it still isnt proof - if, as you guys are suggesting someone at Fox made up a company then RNS'd a fake order.

[exbroker] 18/1/2018 09:39

Good luck to all on here, I won’t post any further, I will not be called a liar by some random anonymous fool epically when I have proved that in an RNS the company stated they have a deposit.
I know more about this company than you ever will.
Any further question Chris Gilbert is your man.
Goodbye

[wolstencroft] 18/1/2018 09:14

I missed this completely from the recent RNS

"The Company expects its full year sales for 2017 to be EUR1.3 million"

Rather different to 28th Sept
"the company now expects €2.0m to be recognised within 2017 financial year"

or indeed 7th Feb
"the Company has increased its estimate of its order book in 2017 to €4.1m"

To be honest does anyone believe Chris anymore?? I'm not saying Fox wont succeed or that sales won't grow, but how on earth can there be any confidence in what he said. We have had this over promising and under delivering for years.

[effortless cool] 18/1/2018 06:02

Exbroker,

Public apology - LOL. You are the one that is peddling falsehoods. Any apologies due are due from you.

[wolstencroft] 17/1/2018 22:37

I did contact Chris but he refused to answer my question.

[andy] 17/1/2018 16:36

Wols,

Exactly, you explained it very well.

Over to Exbroker......

[wolstencroft] 17/1/2018 16:30

Andy

Creditors and Debtors appear in company accounts - balance sheet - to state the position at year end. It doesn't matter when the parties became creditors and debtors.

This is nothing to do with the profit and loss account which largely reflects activities in the past year.

If I set up a company and lend you 300k then the 300k must have come from somewhere.

If it came from capital it would be reflected in the paid up share capital
If it came as a loan it would be reflected as a loan, a liability

In addition I would have an asset - the 300k you own me, this would also be reflected in the accounts. Even 10 year's later it would still be reflected in the balance sheet of the accounts - a 300k asset and a 300k liability

[wolstencroft] 17/1/2018 16:26

Ex

Clearly one of us does not know how to read company accounts!!

[andy] 17/1/2018 16:22

Exbroker,


So will be visible in their accounts for that year then?

[andy] 17/1/2018 16:06

exbrpker,

But the accounts of Eboracum would confirm the money passing through.

My question is how could they become dormant if they were trading?

[andy] 17/1/2018 15:35

exbroker,

Have you seen the accounts of Eboracum showing where they received the Euro 0.38 million from?

Or did they go dormant before they published the accounts?

[wolstencroft] 17/1/2018 15:35

Ex,

If you read the company accounts from Oct 2016 for Eboracum they have £1 of capital. No other assets. No debtors.

IMHO there is no other possible interpretation that Effortless's other than Eboracum have misrepresented in their accounts.

[exbroker] 17/1/2018 14:38

EC
Read the RNS Dated 28 September Interim results.
It says
-- We are holding the balance of a deposit from Eboracum Ltd and Banyan Stone pending further sales, which we expect in due course.
Having accused me of touting falsehoods I look forward to your public apology.

[effortless cool] 17/1/2018 13:55

Exbroker,

Please stop touting the falsehood that they hold a deposit from Eboracum. Eboracum Marble is a dormant company with £1 of capital. It has certainly not paid E0.39m to anybody.

[wolstencroft] 17/1/2018 10:45

Ex,

In the two month gap they went from saying that they had an order book worth 5.6M to stating that the sum total of their significant orders was 3.45M

They've obviously sold EUR 2M in the 2017 year else they would have told the market, as they are obligated to do. But surely not all of that difference was sales completed??

But then they didn't tell the market about dropping 1M from the Eboracum order book and the whole of Banyan....

[wolstencroft] 17/1/2018 08:05

And can anyone square Chris's statement (well, unexplained profit warning) at the end of September 2017 of

"Order book currently at EUR5.6m of which the company now expects EUR2.0m to be recognised within 2017 financial year (FY 2016: EUR801,040)."

with Beaufort, who claim Fox are saying

"significant recent/current orders and existing offtake agreements are detailed overleaf ...
Mahadev Marmo Pvt Block Marble Illirico Selene India
€1.5m
OM Enterprises Block Marble Mix India
€0.9m
Simsekler Block Marble Illirico Selene
€0.4m
Eboracum Slab Marble Mix United
€0.4m
Marble Dino Slabs/Tiles Mix Balkans Local wholesaler – offtake
€0.25m"

The only possible logical conclusions I can come to are

1. Chris made than number up: as he wouldn't do that surely, this leaves:
2. EUR 2M in orders worth less than EUR 250K each or
3. Something was missed off the list?

I really though Fox might be turning a corner, but there is just not enough mention of new sales / sales pipeline / sales strategy in the Beaufort note for me

GLTA

[wolstencroft] 17/1/2018 07:53

I had a look at the Beaufort report and note that

1. Many of the sources are Fox marble - why they will tell a broker expected sales prices etc but seemingly not the market or direct shareholder requests is beyond me

2. The order book - again something Fox refused to disclose to me, a shareholder, includes 0.4M for Eboracum! Which is dormant. And has no premises (how can they be a wholesaler?)

Banyan have as would be expected disappeared from the order book. NO RNS though....

The order book is tiny, just a few customers.

Most importantly, if they are to triple sales in 2018 and then double them again in 2019 IMHO they need to have a very convincing sales strategy rather than they have have hired "sales agents" and:

"Momentum amongst these, together with other large customer enquiries, are now changing management’s mindset away from chasing demand
and new customers, in favour of scheduling excavation/quarry expansion and continuous processing"

This is the same as saying "Hell we're just so good at what we do we're going to pump out the marble and wait for the phone to ring and we'll double and double and double sales again over the next three years"

WTF?????


BTW It's just the one share I own.

[pugugly] 16/1/2018 16:08

Top Kosovo Serb politician Oliver Ivanovic shot dead
OK Different sector of the country but an idication that possibly still political risk from Serbia and it's Russian allies if they decide to intervene.


Might this be the reason for price retrechment ?

[pugugly] 16/1/2018 15:43

Some volume selling starting to show (imo) Why ? Placees taking a quick short term profit? Stale holders taking the opportunity of the recent spike to exit? Worries about the fund raising ? Options - views ?