I-nexus Global Share Discussion Threads

[Abuse team] 07/5/2006 21:27

Post removed by ADVFN

[loverat] 07/5/2006 21:13

Evening Fusey

Just got back from a long weekend away. Have any more companies
gone down the drain in my absence?

I see Simon Cawkwell announced on the other thread that he was buying
into this junk..

[stewjames] 05/5/2006 14:30

stewjames - The directors wont be able to steal anything without shareholders approval!

Yes, but how often have you seen MBO bids rejected, provided they offer 20%+ premium? It's even easier to get approval if the price has previously been in freefall.

I dont know what balance sheet you are looking at but the one I am shows a very healthy cash balance as at 30/12/05.


Current assets: 5.9M, creditors 9.2M. Unless the 6M "creditors after one year" is not "real" cash debt (ie convertible bond or suchlike...is it?), those are the sort of numbers that look fine for a healthy company, but can rapidly become a concern.

Companies that go bust usually have no money and no means of raising any..lol.!

Thanks for the lesson. However, before that happens, they often have a period where the money runs out because the operating performance drops and can no longer sustain what only a short time ago seemed like inconsequential debt. Look familiar?

Thing about this company...I looked when it was 90p and everybody was going on about the low PE making it too cheap. I thought to myself "That's all well and good, but there's no downside protection from the balance sheet, so what happens if those earnings continue to decline, as looks likely?" I look at it today at sub 40p...and the question is still the same. What's changed (a bit) is the risk/reward. Prospects look worse, but because of the shareprice reaction I think it represents better value despite that. I still don't think it has much of a future long term, but there might be a turn to be made at the next results (I suspect the market is underestimating this year's figures) Also, this is the sort of situation from which opportunities are born, so I will be keeping an eye on things.

[gaybriefs] 05/5/2006 14:02

There is still a big overhang Carl Tattons shares were bought but it looks as though marlborough dumped the lot and that 933,333 could be man financial but they only just bought in so that one could be a buy.

[gaybriefs] 05/5/2006 13:43

GSands you are wrong my friend.
There is a big institutional holder still to declare dont worry I will personally go and see them and tell them they are being ripped off if that is the case.The directors do not have very big holdings here S Hargrave has 4.99% Parry None Reidy 3.21% Paul Hargrave ??? so they wont be carrying much clout.Its up to the shareholders to decide if they are being ripped off and if they are then they can block it.

[gsands] 05/5/2006 13:41

Gaybriefs,

I have every intention of dumping this rubbish. But not right now. There is likely to be some kind of a technical bounce here from a heavily oversold position.

I will wait for all the large holders to sell up. Then I will wait for the mug PI's to tiptoe into this and take the price gradually higher on their 'isn;t this cheap on fundies' type of prognosis which will gather further momentum as people decide that 'broadband is the market of the future' etc etc.

Then I will dump my little lot.

[gaybriefs] 05/5/2006 13:32

GSands you are painting a picture here of no future no nothing company going bust surely if you think this wouldnt it be better to sell now and just put this down to a very bad experience rather than lose the lot which is what you are implying.

[gsands] 05/5/2006 13:27

I remember on this thread a while ago someone wondering whether or not the directors were deliberately letting the company run into the ground so they could pick it off cheaply.

The latest RNS seems to raise the question again.

The home gaming division has been put forward as the sick dog of the company with it's diminishing profits and database respone rate.

Meanwhile Brightview has been glossed up to look like the jewel in the crown.

What's the betting that the reality is quite the reverse?

It seems rather strange that if the home gaming is so sick that the directors would even consider buying it, doesn't it?

My guess is that the directors have got a few tricks up their sleeves for the home gaming division, but would rather put their plans into action once they've prised the division away from the shareholders and a knock down rate. BingoLoopy looked promising when they announced it, but what's the betting that this will be downplayed too at the EGM.


So let's look at the 'jewel in the crown' - Brightview. Apparently it's all going really well. Hmmm. I thought profits were in decline as dial-up customers migrated to broadband. And then there's the small problem of competition. Talk Talks free broadband offering is likely to spark a price war soon, so that will put downwards pressure on profits too as Brightview are forced to drop their charges to stop customers from walking.

Sounds very promising doesn't it?

On current figures the company may look cheap. But as always there is a reason for that. The management are a hopeless bunch and broadband is about to undergo a revolution, one which only the strongest, largest and best will survive.

[gaybriefs] 05/5/2006 13:17

stewjames - The directors wont be able to steal anything without shareholders approval!I dont know what balance sheet you are looking at but the one I am shows a very healthy cash balance as at 30/12/05.
Companies that go bust usually have no money and no means of raising any..lol.!

[stewjames] 05/5/2006 12:36

Starting to look interesting now, but I don't like the balance sheet much. I'm not a huge fan of net liabilities (after discounting intangibles) at the best of times. When the operating performance is also declining, bankruptcy warning lights go off in my mind. I have a feeling that if there's any value in here (may well be) we'll see the directors stealing it.

[jim_black] 05/5/2006 12:26

gaybriefs is right and the price is rising because the PER is now between 2 and 3 and most of the comments here are totally over the top. The picture is not nearly as black people think. rgds

[strategy and luck] 05/5/2006 12:25

Simon,

O/T

Why do you think Empyrean, the £48M market cap company, is a sell when it clearly has an oil production well in California and has obviously found its "hundreds of trillions of cubic feet of gas" hoped for in Germany? Although it is keeping this quiet until it purchases more licences in the area! They have confirmed the presence of a gas seal and are arranging testing rigs as we speak. Do you think there would be massive excitement and political pressure to extract the gas given the problems with Russian supplies, dwindling North Sea reserves and the sheer size of the find?

Anyway, I am 95p up on EME by going long. You are 20p down by going short. I am 99% certain this trend will continue.

[fusebox] 05/5/2006 12:23

Bottom fishers will get burnt here in due course. A dump of 1,640,828 shares yesterday says it all !

[fusebox] 05/5/2006 12:22

Anyone to dump 1,640,828 shares says it all.

[gaybriefs] 05/5/2006 12:08

Well we still have paul hargraves rns marlboroughs and possibly nigel wrays notifications to come they have all possibly bailed with 30% of the shares traded yesterday.
There are also the rns of who the new owner/s is /are.

[gsands] 05/5/2006 12:02

Yes - I know. But it's interesting when you see large holders throwing the towel in and ditching their stock. Just goes to show what professional investors think of this company.

[gaybriefs] 05/5/2006 11:58

GSands - He was already a known seller and was already depressing the share price nothing new there.

[gsands] 05/5/2006 11:56

Large holders jumping from the sinking ship:

Invox PLC
05 May 2006

Invox plc (the 'Company')

The Company was notified today by Carl Tatton ESQ that he no longer has an
interest in the ordinary shares of the Company, having disposed of 1,640,828
ordinary shares, representing 7.6% of the ordinary share capital of the Company,
on 4 May 2006.

Enquiries:
Jerry Reidy, Finance Director, Invox Plc 01295 201 240

[k123] 05/5/2006 11:52

Buys....Buys... and more...
What is going on?

[gaybriefs] 05/5/2006 08:56

I think things are getting a little over done here with all the doom and gloom.
Brightview is not in decline it is growing at a pretty decent rate this is fact.Brightview has already booked 1.2 million proft for the half year ended 31st December so its safe to assume and guess at full year figures of 2.5 million.
If a sale of home gaming goes ahead then Invox will receive a percentage of the profits remember the deal has to be fair otherwise it wouldnt go through so we are probable looking at annual profits of 3 million against the current market cap of 7 million.The doom and gloom is already in the price and is over done.

[scotswhaehae] 05/5/2006 08:51

Was that to partially close a short Simon?

[hugepants] 05/5/2006 08:48

Simon

Your 30,000 buy has pushed the price up 0.5p. Why not buy another 30,000 and see what happens.

[gsands] 05/5/2006 08:42

Simon,

I didn't realise you were a penny punter these days.