Mbl Share Discussion Threads

[55investor] 29/12/2013 18:26

jeffian

Some excellent points which a few I had forgot about, maybe this is why there has been a lack of deals and the cash unchanged as the management have to prove they
are no longer reckless as they used to be but agree the jury is still out.
To the others I have a large investment in AEO check that one out it's almost
too cheap to be true.

[rbcrbc] 23/12/2013 20:45

Did anyone actually ever contact the Fraud Office to ask if they would investigate ?

[jeffian] 23/12/2013 19:15

Wasn't there also some issue about building work done at the CEO's home (or was it his restaurant?) by the building contractor....who also was to build the aborted warehouse...who also sold his U-explore shares to MUBL? They're a close community in Leyland!

[davidosh] 23/12/2013 18:32

Just asking....

Why would anyone take a new long term lease on a new custom built warehouse facility unless they had a watertight long term supply agreement with their 76% majority customer named Morrison to balance ones liabilities against !?

Why would you also spend £2m on nothing but fresh air when one considers that U-Xplore actually exploded !? Investing direct into the directors pocket rather than the company also makes no sense from an MBL shareholder viewpoint.

At the last shareholder meeting we attended the gathered shareholders were told that the company had invested £80,000 on Olympics tickets to use as prizes in online website competitions to attract business. Two shareholders tracked every website for months before the Olympics and never saw a single Olympics promotion !

Are there any more 'strange but true' facts that others wish to share ?

One day someone will write a bestseller on this one and we will probably find a warehouse in Leyland stuffed full with them !

[timesmoney] 23/12/2013 15:57

hey 55 begining to get a sense of market sentiment?
I see the broader market has reacted to the RNS and shares have dropped, not suprising realy. Re Morrisons what was that 3 or 4 years ago, give me a break!

[jeffian] 23/12/2013 15:13

"Cannot blame them for losing the Morrisons contract"

No, you can't but you can blame them for
1) telling the market they had a 3-yr contract with Morrisons when they didn't
2) telling the market that Morrisons had undertaken to take their stock and they didn't
3) entering into a binding commitment for new enlarged premises to service the Morrisons contract which cost a 7-figure sum to break and
4) paying £2m to take a minority stake in a 'virtual education' company which was probably worthless (and not even putting it into the business as working capital, but paying it to an existing shareholder............who also happened to be the bloke they paid off in respect of the warehouse development).

Looking at the way management have rewarded themselves in the past, and how they have chosen to 'invest' shareholders' funds as shown by 3) and 4) above, I wouldn't feel too confident that that remaining cash is in safe hands.

As for "What I cannot remember from memory is the Leyland site". Well I, and several other shareholders, can as we went there. If they can find anything smaller and cheaper, it'll be Trevor Allen's garden shed.

[timesmoney] 23/12/2013 11:37

EC, Nice to hear someone else pointing out the obvious.
55investor might well make some money on the fluctuation in price up or down, but most would like to invest in proper companies with proper mamangement, who have some reasonable prospects.

[effortless cool] 23/12/2013 11:26

Why will they make money out of it next year, if they could not make money out of it this year.

The cash is worth nothing unless it gets back to shareholders or is reinvested in something that produces attractive returns. My expectation is that it will be used up to allow management to keep drawing salaries as this loss-making company limps along.

As I say, for me, the management record alone makes this uninvestable. It's your money, however, so you go for it - I wish you luck.

[55investor] 23/12/2013 11:22

Some director buying now would be a excellent signal but no sign so far of that today.

[effortless cool] 23/12/2013 11:10

I was referring to the £876k tax receivable asset at H1 last year. Compared to last year-end, cash is stable because inventories are lower, trade receivables are lower and trade payables are higher. You can't make a judgement on the cash position in isolation from the other elements of current assets and current liabilities.

[el1te] 23/12/2013 11:04

- Not invested here -

55investor - No tax rebate for this set of results, as you say. The operational cash flows were negative, but offset by

- 'Non cash' depreciation
- Adjustments in the trade payables/receivables balance which may actually just be a one-off effect

El1te

[55investor] 23/12/2013 10:58

EC

Where is this tax rebate mentioned in the results, I keep scanning the results
but I cannot see it.

Timesmoney

You are stale, no matter what they do you will be negative. I've made a killing
trading AMU/Mubl shares in the past and the key is to spot the times where you
think you can make a profit and I think sub 10p is another time and I bet they
will trade higher than 15p and more likley 20p in the future we will see eh ?

[effortless cool] 23/12/2013 10:05

55investor,

He is right - you are too easily pleased. The company is still loss-making on its continuing operations and cash has only stayed the same because they banked a large one-off tax rebate this year. Add to that a record of management incompetence and moral hazard, and this still seems uninvestable to me.

[55investor] 23/12/2013 09:56

You are struggling this time Timesmoney, no long winded reasoning this time to
those results, some hidden plus points as well.

They negotiate a small premises to operate will save money, they have increased
investment in the bird seed business etc etc and still the cash has not dropped.

So they increase sales and margins next year, move out of Leyland into a cheaper premises and then have still the money which is twice the market cap.

The shares look cheap to me.

[timesmoney] 23/12/2013 09:49

55investor,

You are easy to please. I know who to call if I have a dog of a share to try to sell.

[55investor] 23/12/2013 08:11

There you go. Quite clear cash is now not dropping, that is more than a full year
it has remained over 3 million, market cap half of cash, yes remaining business
losing small amount of money but there is a huge gap to be filled with cash next
to the market cap, shares could do well once others notice the difference.

[55investor] 20/12/2013 17:02

More nibbles this week some people expecting a surprise set of results soon.

[55investor] 12/12/2013 13:20

89k buy ahead of results out of the blue am I right to be suspicious of a
good set of results compared with the low market cap coming ?

[timesmoney] 13/11/2013 11:11

55investor
I would hazard a guess that the stock you refer to has had a change of management or something similar has occured, perhaps an exciting development or new idea.
Given that this has not happened at MBL unless you class birdseed as exciting, there is no reason why matters will change.
hugepants. just looking at the numbers is shortsighted. There is a reason for the poor rating and to ignore that would be folly.

[55investor] 13/11/2013 10:43

Timesmoney

Have you scanned the leaders board today, there is a stock up 125% that was as bombed out as MUBL, forget about the past, could buying this stock now make money, I'd say on next month results the price will jump when again people see
the cash is more than the market cap.

[tiswas] 13/11/2013 10:42

Anyone know how the bird seed sector is expected to perform in the future?

No doubt they will be tweeting updates.

[hugepants] 13/11/2013 10:35

I just look at the numbers to be honest.
Anyone know how the bird seed sector is expected to perform in the future?