Mbl Share Discussion Threads

[kimboy2] 29/8/2012 09:23

I suppose for people coming anew to this it looks a peculiar situation and valation. For those of us who have been through the trials and tribulations it is not.

The company may well have £2.7m cash remaining. However it is losing over £2m pa on continuing operations.

Is there anyone who actually thinks that trading will improve at any stage in the future.

I couldn't find any reference to the £1.5m that they are paying their mate for the dud lease they were stupid enough to sign. Have they paid it yet ?

Was there any mention of U-Xplore ? They gave their mate (the same mate) £2m two years ago to allow them a partial exit from a private company. So much for Cowgill reckoning we would get the £2m back.

As soon as they lost the MRW contract they should have sold everything off and sent the remaing cash to shareholders.

[greengiant] 29/8/2012 09:23

akaaur,

True a low valuation but look at the reality:

The company continues to make a loss - in fact if you look at the Trading Results:

Wholesale lost £0.6m
e-commerce lost £0.7m
Retail lost £0.7m
Other lost £0.1m

Discontinued Activities lost £6.6m

Any more rationalisation of the business will incur redundancy costs and therefore reduce cash.

The company is able to fund its operations for the foreseeable future, look at current cash:

£4m at year end
£2.7m at end August

Cash outflow of £1,3m of which £700k was acquisition. Therefore £500k outflow in 5 months for continuing activities or £100k per month. Leaves around 2 years of cash.

gg

[christianf12] 29/8/2012 09:20

that will be hatetrader selling under the bid making an overall loss.

Why, if cash is what they state, can they not get trade credit?

lol, nice pump and dump hatretrader aka 678777

[viktormeerldrew] 29/8/2012 09:20

Looking at the segmental reporting in Note 2 the Windsong subsidiary by itself looks like it could be worth a multiple of the current Company value.

£10m of sales with Operating Profit of £0.6m

[alunmorris] 29/8/2012 09:18

Ask yourself why a company with net cash cannot get trade credit.

[viktormeerldrew] 29/8/2012 09:16

Cash realisation of £0.5m for a Company valued at only £0.6m seems pretty good and they have £2.7m in the bank.

this does look dramatically undervalued

[viktormeerldrew] 29/8/2012 09:14

Cash flow, working capital and borrowing facilities

The Group has generated a net GBP0.5 million in cash over the year with the Group's operating loss and the cost of implementing restructuring plans being largely offset by cash flows generated of GBP9.5 million from working capital realisation, the sale of assets and a corporation tax repayment.

At the year-end cash balances were GBP4.0 million (2011: GBP3.5 million). In August 2012 cash balances were GBP2.7 million, following the acquisition of three new businesses. The Group continues to be challenged by the lack of available supplier credit but is in a position to fund its operations for the foreseeable future.

[akaaur] 29/8/2012 09:12

greengiant but for company valued at 650k

[greengiant] 29/8/2012 09:09

akaaur,

I would suggest you read the accounts before posting. The £28.3m includes over £10m of discontinued activities.

gg

[akaaur] 29/8/2012 09:01

jeffian but the reason why their overheads is big is because the morrisons contract being lost, business to big for their operation, but they are downsizing which should see them in profit as they are making sales, 28.3million, they have no debt also

[jeffian] 29/8/2012 08:51

Which cash? The £4m at 31/312, the £2.7m at August or whatever is going to be left running a business whose overheads appear to exceed its gross profit by c.£2m p.a.?

[akaaur] 29/8/2012 08:48

this redicously cheap atleast 15p value

[felix99] 29/8/2012 08:46

I think so - I bought a few but not got the cojones to go in that big. And not much stock around when I was buying

[someuwin] 29/8/2012 08:45

Certainly looks cheap compared to cash.

[curvedair] 17/8/2012 17:49

Tommy...Looks like no one really gives a monkey about these guys anymore given the interest on this board.

[tommyjnewton] 16/8/2012 15:53

So any chance of the FSA nailing the board? Any news? I would buy tickets to watch.

[fft] 16/8/2012 13:38

Mr Hangman has come to save us.

this is the best chance for growth in MUBL i have seen for a while :-) His record on LOQ has been spotless.

[mr hangman] 14/8/2012 14:44

lol,all that's left is a few pennies & a worthless Oylimpic tickets, not one of your greatest investments David.

[davidosh] 14/8/2012 14:15

I was just thinking about those tickets the other day. How nice if shareholders were to have seen some magical benefit from such an investment??

Does anyone know how many tickets there were and for what events ? Did anyone see the MBL promotion that they were used for? £60k spent on the worlds biggest show must have brought us in millions of pounds in business surely?? The last update did not suggest as much.

[curvedair] 14/8/2012 13:34

The Olympic Tickets Saga Continues.....Surely all shareholders should be asking further questions. Just to remind everyone when the company was on its knees MBL spent over £60k on tickets to the Olympics.

I recall that at the last AGM it was mentioned that these tickets were to be used in support of a promotion/competition on MBL's retail website Bee.com. Did this competition ever take place? I don't think so or if it did who were the winners?

Question: So what did happen to all those tickets? Answer: I am not sure but we can perhaps account for a few grands worth. I hear on the grapevine that a shareholder certainly spotted TA and he thinks family and friends at the final of the 100m.

Work it out for yourselves.

[thal2soar] 03/8/2012 22:02

Tommy

Agree with the 53%, one of them was earning something like a million+ a year,
now i cannot see past £100k a year max for the salary given this has dropped
from near 40 mil market cap less than 2 years ago to under 1 million.

Rainmaker on his thread sees value, i think everybody researching this company
without knowing the history will see value now but management credibility is
shot to pieces, still it could be a trade as normal, had a check earlier and
it was 3.73p offer for 250k, so bad enough it is bombed out but also a big overhang to boot.