Internet Business Share Discussion Threads

[68steve] 15/6/2007 11:16

Even EBTM have a market cap of £15m+ and non-profit making at the moment,the mind boggles...

[aleman] 15/6/2007 10:28

Everyone has an ethical limit for their investing and mine isn't very tight but there is no way I would sell IBG to buy PHRM.

[tonyr] 15/6/2007 09:30

I didn't write anything new, just re-stated what others who've been around here a lot longer have been saying for some time.

Online advertising is obviously red-hot currently - just look at PHRM's share price performance on the hope they might "have" something significant (which I very very strongly doubt). Now £400m+ mkt cap on virtually zero revenue - shows what a good story can do!

Contrast with the proven delivery of IBG, but languishing share price

Oh for a bit of sizzle here!

[68steve] 15/6/2007 09:24

The longer the interims take the more chance of a decent update and of course 2007/8 forecasts come more into focus...

[spangle93] 15/6/2007 09:02

Thanks for your thoughts - much appreciated. I decided to hold on, with the hope, rather than strong expectation, that something positive will happen in the coming months

[krakow] 14/6/2007 23:21

tonyr, a concise and very astute observation with which I fully concur, but couldn't you have posted it eighteen months ago?!?!

;-)


Ah well..........zzzzzzzzzzzzzzzzz..............

[tonyr] 14/6/2007 16:46

As has been discussed here on many occasions, a (the?) key issue with IBG is one of the presentation of their business model to the investor community. Affiliate Marketing is itself pretty straightforward, but as it's not something many people are familiar with, it needs explaining simply and clearly; since it's a highly scalable model, it's the sort of thing that investors love, if they can understand it - hence the need for clarity and simplicity when presenting it. At the same time, the (essential but dull) supporting activities that IBG is engaged in should be heavily de-emphasised, so as not to distract from the attractive scalable stuff. Several years ago I was a semi-insider for a technology corp that was extremely skilled at presenting itself well to the investment community, and benefited hugely (in terms of coverage and resultant share price action) from this ability to distil their message down to a few simple concepts (emphasising the scalability of the business model) that investors, esp fund managers, could understand, and get carried away running their sums on. IBG really needs to sort out this aspect; if they had done, the share price could be a multiple of its present level, and Maz & Co would be properly equipped to pursue the growth prospects they've identified, rather then being somewhat hamstrung as they are currently. Delivering on this stuff is equally as important as delivering on the operational side, as without it, all the excellent day-in day-out operational work, and value, remains under appreciated, and expansion opportunities are missed.

[kenatbabken] 14/6/2007 11:13

" its a conundrum wrapped up in a paradox inside an enigma"

You forgot frigging mystery!!

The longer the Strategic Review goes on the longer the share price will drift as PI,s
who dont believe a bid will be forthcoming move on.Based on the last 9 months
of share price action (Where even beating forecast has lead to a downward drift in the
SP) only a bid will see it rocket imo

If you believe in the story value will out in the end (When I dont know)

[cgequityinvest] 14/6/2007 09:49

Given the sector its in, the quality of the management team and the profit growth over the past year, the slow downward drift of the share price and indeed lack of share turnover is rather strange. Undoubtedly we are all waiting for the results of the strategic review the output of which could be a sale of the business, some sort of reverse takeover, some form of acquisititon of the business or I guess "we are going to continue as before". I find the last unlikely - my sense is that Maz and the team are ambitious and impatient and will not want to just carry on as before.

I am tempted to add to my holding but some sense of caution is holding me back - is this slow drift in the share price an indicator of some form of bad news awaiting to be announced. Has growth slowed? Is Henoo/the media division going to take millions more to reach critical mass.

As Churchill said once " its a conundrum wrapped up in a paradox inside an enigma" Well something like that.

[aleman] 14/6/2007 09:16

Spangle93 - this is the share I have held longest - over 3 years. With full taper relief, I would not be here if I thought they were going sideways for the next year.

[spangle93] 14/6/2007 08:22

I've been a sleeping holder for months now, and have greatly appreciated reading the quality posts here.

I find it surprising and disappointing that, given the area in which IBG operates, and the historic growth that the company has demonstrated, it can't seem to catch the attention of sufficient investors to grow the share price. PER isn't high for a growth company, PEG is very low, and management has twice confirmed since the last year end that trading is in line with their expectations.

The share price has basically drifted back down for 2 months after the announcement of a strategic review. It now seems that two things could now share the torpor - positive interims, or the result of the strategic review (I guess an outside 3rd option is a surprise takeover bid, but for now I'm not contemplating that). Unfortunately, neither looks like it will appear before the end of this spread bet period, so I'll have to cough up.

I'd appreciate a steer from the experienced posters on here whether they believe the share price will perk once either of these milestones is reached, i.e. that the share price drift is symptomatic of boredom rather than anything intrinsically wrong with the company. I already know it's not worth asking if anyone has an idea when either will occur.

TIA

[12345th] 13/6/2007 12:35

how many more hirsch?

[hirschnathan] 13/6/2007 11:48

more merchants evry single day.

[stemis] 13/6/2007 10:19

We'll just have to agree to disagree then.............

[lord buffett] 13/6/2007 09:54

Yes it is, it simply isn't true.

The company can release them anytime it's convenient to do so, within the rules, especially as we know they're very busy with other stuff at the moment.

[stemis] 13/6/2007 09:28

However since in previous years they've released them on

9 June 2006
13 June 2005

Its not an unreasonable conclusion to draw.

[lord buffett] 13/6/2007 09:21

If they're not late they're not being "held up", especially as they haven't given a date for them yet.

[stemis] 13/6/2007 09:06

Indeed, so why hold up the interims (which now appear likely to be issued in July)?

[masurenguy] 13/6/2007 08:51

You may be right but they would continue on a normal track anyway and publish their Interims as they become due. If an acquisition offer is made, and considered to be acceptable by the Board, then they can still announce this immediately and independently from the Interims.

[stemis] 13/6/2007 08:10

My rationale is that they are holding up the interims to include the results of the strategic review. If that was a sale of the company then they would have to announce the agreement immediately. The signing of a sale agreement is too uncertain to be able to give two weeks notice of it.

[valustar1] 13/6/2007 07:17

Hi Stemis

I think you will find they have to give the results!

He did not say when, just they will give two weeks advance notice of the date they will be released.

At present it looks like in the results they may get a chance to give an indication on trading in May and June.

Apart form what is happening in the startegic review that looks like the interesting bit to me.

[the blackster] 12/6/2007 21:28

How do you work that out Stemis?

Also I'd assume any work to agree an offer would take longer than a couple of months?

[stemis] 12/6/2007 14:18

IBG will give two weeks notice of the results, confirmed by Maz last week.

My interpretation of that is that they are not expecting to agree an offer for the company.