Management Resource Solu... Share Discussion Threads

[burtond1] 13/6/2019 07:20

With shares in @MRSLimited sitting close to all-time lows at 2.65p, this balanced article allows investors with an appetite for risk to decide for themselves whether #MRS currently represents good value amongst a call from calm from "both sides"...https://total-market-solutions.com/2019/06/13/a-tale-of-two-halves/

[ewanwhose] 11/6/2019 11:52

Got to get past 4.5p first!

[gnnmartin] 04/6/2019 21:03

apfindley, is there a written statement backing up your post 905, or do you take it from the presentation on April 1?

ISTM that the value of this company depends on how realistic the board's valuations are. I have no reason to suppose they are unrealistic, in which case the company is as King S. says, ludicrously undervalued. TW (I gather, I haven't paid to find out) thinks the company is bust. I assume he thinks that the equipment being bought and the shed being built will not get enough use. I don't see there is anything to do but wait.

The company asked for the right to pay some bills by issuing shares, and that was twice refused. I'm against using the shares as currency while the share price is so low, so I'm ok with that refusal, but perhaps the company would not have used shares as currency anyhow after the share price slumped. I want the company to grow with free cash flow. Time will tell: I just hope the shareholder squabble doesn't sink the company, it certainly must be taking management time and making it harder to finance the debt.

[king suarez] 04/6/2019 18:24

I topped up a small amount today, because in my mind it is either worth nothing (because shareholders are somehow going to get 'legally' shafted) or it is worth minimum £20-30m market cap based on the financials.

The valuation is ludicrous. Either it should not be trading due to criminal activity or it should be a multi-bagger, because with a trustworthy BOD it would be worth multiples of the current valuation. Highly profitable, easily serviceable debt, highly cash flow generative, plenty of investment made in the business and new contracts won - yet a dubious BOD.

I don't have a huge amount in this, because I don't wish to gamble a large stake, but I want to see what happens over a 12-24 month view. I can't see how the company can maintain such a low valuation unless all of the accounts are fraudulent. There is a weird story here and this is a strange learning experience. I imagine someone is going to make a lot of money through the share price volatility here.

[apfindley] 04/6/2019 17:45

Bargain price now.The Group is pleased to report that it is trading in line with the Board's expectations for the current financial year. As a result, the Board expects to report Net Revenue for FY19 in the range of AUD$73.0m - $75.0m (FY18: AUD$69.1m) and EBITDA in the range of AUD$12.0m - $14m (FY18: AUD$12.3m). FY19 Net Profit before Tax is expected to be in the range of AUD$8.0m - $AUD9.0m (FY18: AUD$6.0m), which will generate an EPS of approximately 4.5c - 5.1c per share (converting to 2.6p / 3.0p per share at an AUD/GBP exchange rate of 1.7).The Group's performance in the first six months of the financial year has been driven by strong demand for MRS' services in the resources and construction markets in Australia, continued investment in core profitable assets and rigorous cost management. There has also been a strong focus on growing operations in new markets with higher margins. The restructuring, review of assets and depreciation, and maximising of internal synergies will continue through FY19.Management continues to work towards completion of the debt restructuring. This is progressing well and a further announcement will be made in due course. This will ensure MRS has the most efficient interest rates available and should contribute significantly to the strong FY19 profit performance.

[yourwrong] 04/6/2019 16:49

How can the deluded preachers be still around (in every board, on Twitter, everywhere) after all this?

Haven't you all learned the lesson yet?

The price is down because of all those loosers: calling an agm then losing it, challenging the board when you haven't got the numbers!... go back to junior school....lots of words but no real action...just a big smoke you all are.

[apfindley] 04/6/2019 16:47

Still debatable whether price is purely due to market distrust, and further selloff by pi's on the current weakness, OR, if it's due to manipulative games by the board and associates who are using their 90mill shares to force the weakness by buying and selling to create a weak market in the shares.

[king suarez] 04/6/2019 16:42

£5m market cap = about 60% of one years EBITDA. Priced to go bust in about 7 months time then according to the market. This despite being advised MRS is on target for EBITDA of $12-14m AUD for the current financial year.

'Interesting.'

[apfindley] 04/6/2019 16:37

But hey everything's ok, the company said that we are making plenty of profits and turnover is increasing.And this new alerion deal will somehow make us even more profitable by adding 400k to the bottom line ...according to Hogan...and that was known before any figures of the deal became public.I'd love to find out about this direct cost savings (which should translate as increased profit). How will it save that money.

[apfindley] 04/6/2019 16:28

How are they responsible for the price movement.?It had collapsed BECAUSE the company made a dodgy acquisition of a mates worthless business for a shocking 1.3mill worth of Mrs shares. That's the reason it collapsed

[yourwrong] 04/6/2019 16:15

Yep and it hasn't finished yet.

Well done to all the LOOSERS of the last meeting who are responsible for the price performance.

[gnnmartin] 31/5/2019 15:56

The price action is just what you should expect when the significant shareholders fall out.

[apfindley] 31/5/2019 13:52

Yes I agree with you on both.What the board need to understand is that genuine private investors have invested here in what should be a solid company of a much higher valuation. Those investors dont deserve to be sat on these losses.

[ewanwhose] 31/5/2019 09:31

We now have dates for the legal and valuation reports.I expect the legal report to be a whitewash but the valuation report could be interesting.

[apfindley] 30/5/2019 09:45

But we're unsure of how the acquisition is actually going to make income from 3rd parties as the rnss have just been waffle. And the report into the acquisition has not been forthconing, and the immediate nature of the cost savings to mrs has not been adequately explained , so they should be able to see why we're all sceptical about it.Honest people have invested money here and are currently sat on large losses and have also faced what so far appears to be unnecessary dilution due to the alerion deal.If they want to look after shareholders they could've sorted the financing out first, then raised or acquired alerion from a higher market cap from shareholders perspective. Was alerion in such high demand from potential buyers, that we had to swoop on them so urgently...or was the whole thing orchestrated to issue shares by acquisition as they were unable to issue shares by raising capital. So they did it by a dodgy deal to a k own mate of Hogan.Its upto them to prove now that the deal was legitimate, AND worth it.

[ewanwhose] 30/5/2019 09:04

Agreed, but I think it's now up to them to prove that it was worth it.Improve profitability of existing contracts, win new ones in mining and civils, get into new business areas, do general drone surveying (which should be good margin) etc.The real kicker in the deal would be if there IS some special expertise or technical IP that could be outlicenced or put into JVs in other countries.

[apfindley] 30/5/2019 08:12

Have to question the motives of directors here.Why give away 12% of a profitable $70m+ turnover business to a recently incorporated £40k startup .Madness.

[king suarez] 28/5/2019 16:41

Concur - also some news on the next tranche of 'debt restructuring' would be welcome...

[apfindley] 28/5/2019 16:30

If the board want the market to trust them more, then wheres our update on the alerion deal. And why are we not hearing about any work that it's currently doing to bring in revenues.They said it was going to save £xxx,xxx per annum so let's hear more about that.As a £1.3 MILLION investment, I would want it to be earning its money back asap.

[king suarez] 24/5/2019 10:54

Regina61,

Are you referring to another share?

MRS has 223m shares in issue and is currently valued around £6.5m @ 2.9p per share?

[regina61] 24/5/2019 10:21

Interesting history lesson for investors here. Four years ago in June 11m shares were placed at 1.8p, raising £200k. The market cap was thus £3.6m (202m shares at 1.8p) post this 2015 placing. There are now 369m shares in issue but with the share price at 0.75p the market cap is £2.6m, i.e. £1m less.

Have the overpaid Feedback directors invented a money shredding machine - the real meaning of texture analysis?

Patents pending?

[davr0s] 22/5/2019 18:52

Can't believe peeps still believing the hype in this share. It's been toxic for years now and there are 2000 or more UK listings to look at so why stress over this one

[datait] 22/5/2019 14:11

WDC about to take off folks

[apfindley] 22/5/2019 09:29

Ooh Martin returns.And you say you're not linked to the board.Today doesnt change what is going to happen to certain people.