I-nexus Global Share Discussion Threads

[rbonnier] 21/11/2006 14:19

This could be down to problems at the banks ,if the banks are no longer supportive and want their money back Invox will have to place shares with investors who are prepared to support it but at a price.

[loganair] 21/11/2006 14:09

I really would like the directors of INX to stand up and explain themselves, explain to us now much poorer share holders exactly what's happened, what's being going on and what their part was in this disaster.

INX share price has sunk as quickly as the Titanic. Sinking on no news.

My original question still stands. Why did my Fiszman invest £1m plus at a price of 30p for a 14% stake in INX. Just for a tax loss or does Mr Fiszman hope to buy the rest of INX for 10p?

In 20 years of investing, this has been my greatest loss. The loss I'm now holding with INX is more than double the combined losses of the 8 other loss making shares I've invested in over the years. On the bright side, at least I've made a profit from the other 60 shares I've invested in over this same 20 years.

As far as I'm concerned the INX directors have a great deal of explaining to do.

[ok,yah] 21/11/2006 13:48

plusnet (PNT)

[rbonnier] 21/11/2006 13:42

Good question barnetpeter this one just about beats the lot of them bar Langbar .£5 million annual profits year on year and then bang loss making just like that not even posters with a negative stance on this could imagine in their wildest dreams the enormity of disaster here.Parry must have dropped the biggest b'llock and destroyed the business overnight quite how he did it I dont think we will ever know.
The question is _Is this a buy at these levels ?is there another listed isp that we can compare valuations with ?

[barnetpeter] 21/11/2006 13:24

Wow - what has gone on here! I am not a holder but was tempted at around the 90p level.

"Invox PLC said profit before goodwill amortisation and tax
was 2.7 mln stg for the six months to Dec 31 2005 compared with 4.4 mln in the
same period the year before as it reported trading broadly in line with market
expectations" - now entire mkt cap is nearing just 2 million.

Just how do these AIM companies destroy value so quickly?

[loganair] 05/11/2006 12:07

Anyone have any idea why Mr D Fiszman purchased his 14% stake for around 30p if he did not think there would be some profit from his £1m+ purchase.

[ok,yah] 31/10/2006 13:30

re...The directors did the correct thing by buying brightview? They spent £25 million on it two years ago.. now its worth less than £4 million.... How does that become a shrewd purchase?

Is it worth buying a few extra? Looks decent value but being such a small company now this will probably remain undervalued for some time unless a bid comes in.. There isnt a floor on the share price at present either

[gsands] 18/10/2006 07:15

CPW recently bought AOL at the equivalent of £250 per subscriber.

If a similiar price was paid for Brightview with 50,000 subscribers the price for it would be £12.5m

With a market cap of only £4m there is potentially a lot of upside here.

[loganair] 12/10/2006 07:42

I was hoping for a cash element, a return of Capital so I could get some money back. Just £1m in shares in another company and the possiblity of another £1m if certain profit targets are met. And then an 18 months lock in.

At best, it looks like I'm going to lose 40% of my investement in INX. The only Silver lining is I didn't invest when the price was around the £4 mark.

Anyone think 40p a possiblity within the next 12 months? Looking out my window I just saw a pig fly by!!!!

[loverat] 10/10/2006 13:31

What a complete nightmare!

[ok,yah] 09/10/2006 09:27

They got up to £2 million for gaming division half the current market cap. This looks very cheap now will be renamed Brightview soon

Invox plc ('Invox' or the 'Group')


Disposal of Home Gaming business


Invox plc announces that it has sold its entire interest in its Home Gaming
business for a total consideration of up to £2 million. The business is to be
acquired by DM plc ('DM'), a direct marketing group specialising in database
management and home gaming.

The Home Gaming business comprises Invox's wholly-owned subsidiaries The Winners
Club Limited and TPC Telecoms Limited, and generates revenue from the rental of
data generated via direct mail and responses to games and competitions from
premium rate lines and texts. The net assets of these companies at the date of
disposal are nil.

The consideration for the sale will consist of an initial payment of £1.0
million, payable by the issue of 7,547,170 new ordinary shares of 1 pence each
in the capital of DM ('DM Shares') based on the closing middle market price of
13.25 pence on 6 October 2006, being the last business day immediately preceding
the acquisition.

The remaining £1.0 million will be payable in further instalments of either DM
Shares or, at DM's discretion, cash, based on the profit before tax of The
Winners Club as reported for the three years ended 31 December 2009 (the '
Earn-out'). The Earn-out will be due in four tranches of £250,000, payable if
the profit before tax following acquisition exceeds: i) £1.0 million for the 12
months ended 31 December 2007; ii) £1.25 million for the 12 months ended 31
December 2008; iii) £1.25 million for the 12 months ended 31 December 2009; and
iv) £2.0 million for the 12 months ended 31 December 2009.

The Group's investment in Home Gaming is valued at £2 million in the preliminary
results for the year ending 30 June 2006. For the 12 month period ended 30 June
2006, the businesses reported turnover of £6.9 million (2005: £12.0 million) and
profit before tax of £1.9 million (2005: £5.6 million). However, Home Gaming has
been loss-making in the current year to date and trading has deteriorated in
recent months. As previously communicated to shareholders, Invox intends to
concentrate on its Broadband business and rename itself Brightview plc. Parry
Parry, the Head of the Home Gaming division, will step down from the Invox Board
at the time of sale.

Application has been made for the admission of the initial payment DM Shares to
trading on the Alternative Investment Market of the London Stock Exchange plc
and it is expected that dealings in the new ordinary shares will commence at
08.00 on 13 October 2006. These DM Shares will be subject to a lock-in agreement
which prohibits their disposal in the 18 months following the Acquisition,
except as agreed with DM's nominated advisor. Invox expects to retain its DM
Shares for the duration of this lock-in period.

Invox Chairman Stephen Hargrave said, 'In line with our preliminary results
statement to shareholders, we are completing this disposal in the belief that we
can realise a better return on the Home Gaming business as shareholders in DM
plc. Having resolved that issue we can now focus entirely on our Broadband
business, which we believe offers substantial opportunities for new growth.
After falling back earlier in the year owing to offers of apparently 'free'
broadband services by other suppliers, our new signups have recovered strongly
in the last few months: over 5,000 net new Broadband subscribers were signed up
in the quarter to 30 September 2006 taking the overall total to over 45,000. We
expect to have more than 50,000 subscribers by Christmas.

[rbonnier] 06/10/2006 13:13

Well I would say it probably was worth a punt.
1)Big Buyer in the market
2)DM in advanced talks with Invox over the sale of the Winners Club
3)Hold on for a few more months and it will probably get taken out altogether by one of the bigger players as Brightview is by no means a basket case.

So downside looks limited considering the above but upside is really unknown so no risk reward factor,pays your money and takes your chance I suppose could be worth 40p at a guess.

[ok,yah] 06/10/2006 09:59

Could be worth a punt after todays news they are in advanced talks to sell the Winners Club after all the whole company including brightview only valued at 4 million now

[the skies the limit] 26/9/2006 15:48

Some of the other shares paulypilot ramped are FWY EHR SEA ARG BPRG

Most in the gutter. ARG hit a low today just as INX has.

The guy was investigated be the FSA once and they need to look at him again.

He doesnt post on the fool site now to ashamed after most his ramps have backfired.

[the skies the limit] 26/9/2006 11:36

One of the best stocks out there is EKT fusebox holds 3%. Check it out if i was you one of the best small companies on Aim. Cost cuts will save the co 900,000 next year and boost profits 50%. Red Hot Penny shares had a target of 25p as against 18.75p now and that was before the co told the market of more cost cuts. RHPS will have update target soon to take into account news in interims.

[rbonnier] 26/9/2006 11:31

Absolutely in full agreement here with gaybriefs there should be an investigation.
Lets just take a minute here who Parry and Hargreaves trying to kid this indeed was making over £5 million profit a year and indeed recorded record profits last year before goodwill of 7 million ,and now they expect us to believe these record profits have suddenly become 50k.Na sorry somethings wrong dont know what, I take it the auditors will have verified and audited the income from the premium rate phone lines?

[loganair] 26/9/2006 10:49

I well remember Fusebox & I never listened to Palypilot and what he had to say. I listened more to the INX management, silly me thinking that the management new anything!! I now wish I had stayed well clear of INX. At least I have the statisfaction that my last 3 investments are well in to profit. I just wish the money that I originally invested in INX I had available to invest somewhere else.

I wonder who's just taken a loss by Selling 75,000 at 16p?

What I struggle to understand why did the respected Man Financial purchase 6.06% for an average price of 45p, Command Fund 7.31% for 35p and Fiszman 12.51% for 30p.

By Buying over 25% of INX, these 3 must think there is some value in INX, and for Man Financial they must feel that INX is worth over 45p, or why pay 45p for a 6.06% stake?

Any comments anyone?

A second 75,000 just sold for 16p? I wonder if it's the same person who's just taken a real knock by Selling 150,000 for 16p!!

Anyone know who's the Seller?

[the skies the limit] 26/9/2006 10:24

All holders were warned by fusebox that Paulypilot was ramping the stock and INX would collapse.

To say this has nothing to do with Palypilot is ridiculous. Fusebox warned time and time again. But paulypilot kept raming the stock.

[loganair] 26/9/2006 09:43

Like the rest, I'm still in shock at what has happened. Only 1 year and a few months ago Investors Chronicle had INX a BUY at £3.15, at around the same price so did other so called professional periodicals. At £1.20 & again at 70p, {this is where I came in} Investors Chronicle and many other tipsters stated that the worse was over, that INX was a BUY. HOW HAVE THEY ALL GOT IT SO WRONG??????

I thought, how can I lose? INX was still making a good profit, INX management stated in no uncertain terms that only 1 Dividend payment would be missed.

Someone has not been telling the truth, the whole truth and nothing but the truth. INX's management seems to be a case of lies, dam lies and statistics.

Unless there is a miricle I've lost a real packet on this one, the worse in 26 years of investing.

I'm extremely unhappy at how the INX management have pulled the wool over our eyes, and mad as hell at how so far the INX management have seem to have got away with it.

[gaybriefs] 25/9/2006 18:13

Im afraid we only have ourselves to blame for investing in this outrageous shambles.Dont take it out on Paul Scott,I unfortunately were one of the last to get out at 23p after losing £5k on this my worst ever loss so far after a good 12 years trading.
The reason I lost this amount was I didnt honestly think that things were so bad and dire at Invox where a a business making 5 million plus profits a year could suddenly turn this into 50 grand within a year quite incredible and to be honest I dont believe Parry and Hargreaves one little bit.
They must have made one huge c@ck up that has destroyed the business over night .
Think I might drop the SFO and FSA a line doesnt sound right this to me it stinks to be honest.