Innobox Share Discussion Threads

[biswell] 28/12/2005 10:40

INO was a way thought out by it's creators to leverage on the UK property market spike

However they bought the wrong properties and employed the wrong people

B

[biswell] 28/12/2005 10:38

You do realize that 66.666% of the business has been for sale for some time with no takers

The business model does not work and the sites and menus and staff have not performed.

A forced sale of properties may be the outcome

B

[biswell] 28/12/2005 10:32

I would suggest they have failed ..... too many pubs/hotels and resturants, many going bust as debt gets worse.... bad timing and a change of tack needed


Our Mission...

"...is to build a group in the licensed trade sector. We propose to develop a portfolio of businesses to include:-

managed public houses which have, in the opinion of the Board, attractive capital growth prospects in terms of property and business development;
small hotels, being hotels with thirty bedrooms or less; and
businesses ancillary to the licensed trade."

[biswell] 28/12/2005 10:29

I would have thought selling at Auction was they way to go

Better done sooner than later as market conditions worsen

'The Moss Cottage and The Three Tuns remain for sale, with some interest beingshown in both sites. However, the difficult market conditions, together with aglut of properties coming onto the market have meant that there have been noacceptable offers. These properties will remain on the market going into the NewYear, but at the same time the directors will look for suitable joint venturepartners with a view to possibly retaining these as joint venture sites if asale is not attainable.'

B

[energyi] 28/12/2005 10:29

Year end weakness.

Are there some US/canadian tax sellers in this?

[biswell] 28/12/2005 10:17

I know I'm not the most popular chocolate in the box for coming up with this, but subsequent price action has been similar to those numbers mentioned

biswell - 28 Aug'05 - 12:21 - 1268 of 1489 edit


This is what I said a few weeks back.

biswell - 3 Aug'05 - 08:24 - 1208 of 1254


I have asked for the NAV to be revised and nobody has done so , this is what it is on the header

Net Asset Value Estimate / NAV as follows...

3.5m ARX shares @ 23.75p ...................... = £830,000
Moss Cottage Property = £1.0 mn.Est x 80% share = £800,000
Unreported Trading Profit from Moss Cottage = Say £100,000
Cash (again this isn't known, but a guess)..... = £200,000Est
Three Tuns chg.in property value since purchase = £ 50,000Est

------------------------------Approx Net Assets = £2,000K
------------------------------Which is approx 16p per share.



I will now put in my figures ...DYOR

Net Asset Value Estimate / NAV as follows...

1.9M ARX shares @ 5.25p , remainder sold ......... = Loss of - £400,000
Moss Cottage Property = £0.9 mn.Est x 80% share = £720,000
Unreported Trading Profit from Moss Cottage = Say £50,000
Cash (again this isn't known, but a guess)..... = £50,000Est
Three Tuns chg.in property value since purchase = £ 30,000Est

------------------------------Approx Net Assets = £450K
------------------------------Which is approx 3.6p per share.


So my personal take is that the NAV is 3.6p , but property values are falling, and I expect another -30% fall over the next 3 years

So my prediction is a future NAV by end of 2007 is round figures 2.5p

[latestarter] 28/12/2005 10:13

oh dear i think we had better hope s wicks has got his cheque book handy

[marvelman] 24/12/2005 20:47

Andonis

If you cannot participate in some sort of sensible conribution after the drubbing most have endured over the past year then please go quite.That was a worthless statement.

[andonis] 24/12/2005 15:10

This is heading for 1p at which price you could think of reentering

[infinity] 23/12/2005 23:01

Unfortunately the longer I look around the smallcaps the more dis-illusioned I become with the market as a whole - small investor gets taken apart more & more often

Sold these a while ago but saddened to see what looked a company with good potential fail pretty badly, in hindsight I shouldn't have invested (using the term loosely !!!) in the first place as I had grave reservations about the first purchase (which I expressed at the time), Moss Cottage - very poor location, can honestly see them making a big loss on this one.

The other properties are not much better - only one with potential is Fishmore but the investment required means the chances of it turning a profit are a good few years away yet

As an ex-holder my advise would be to anyone considering purchasing to stay well clear, at least for 12/18months anyway. It might be worth keeping an eye on INO for some sort of turnaround but it's certainly going to be a long, long haul from here

As already mentioned a possible scenario is where the directors use INO as a loss-leader & farm off the potentially lucrative properties into their own portfolios, tread carefully !!


-- regarding the ARX investment, recent events there now make me believe that if INO had not been so cash-strapped & been able to maintain the ARX shares for longer they could well have seen some better returns

[marvelman] 23/12/2005 20:18

I see there is still good humour and a great deal of humility on this thread.I really do wish this well for the guys still in.Lets hope they can surprise us in a more positive way in 2006.I have still not found a similar stock with the upside posibilities this one had 18 months or so ago.

Best wishes all.

[hendenne] 23/12/2005 14:14

Marvelman - u r so right about the mis-management of this shambles.
But r so wrong about their ability to make money, for themselves.

On thing's for sure - the directors will be having a great Christmas paid for by hapless investors in INO.

[marvelman] 22/12/2005 20:49

Yes Shawzie.We have all had (rightly so) so much hope for this company and have been let down by the downright amateurism of the management and their arrogance.

Remember Bozzies calculations of NAV when the shares were around 7p.They were right and he was right to shout from the roof tops about the potential.Who could have imagined this subsequent ineptitude.Even if there are enough mugs out there to subscribe to a cash call do we realy believe they have the knowhow to use it properly in order to escape out of the mire they have got the company into?

Regards

[shawzie] 22/12/2005 20:37

marvelman
Indicative of the attitude of the Board is the website for Moss Cottage, which shows the old building before the additional bedrooms were added and the Christmas Menu still refers to Christmas 2004.

[marvelman] 22/12/2005 20:23

"our skills in hotel development and refurbishment will continue to enhance the
underlying value of the freehold properties"

Thats right keep showing us your skills you amateurs.

They have managed to destroy assets (cash) at a rate of knots.In the process we have (most of us) lost money.Now they want more money to do what with...survive for another year?They have stumbled from one bad investment to another.Who else would have bought the rubbish they have.Thats why they cant sell it on.

A total shambles.

Sorry guys I could not hold back any more (not a holder).

[latestarter] 22/12/2005 20:17

i think the confusion there is possibly it is then put on the consolidated account?? so you would then take out the interest payment i havent looked that closely yet, the figures i had came directly from the sales brochure from christies