Mereo Biopharma Share Discussion Threads

[argy2] 26/11/2007 12:36

De-rampers like rampers tend to post on as many BBs as they can manage.Maybe he is Mr 5000? Maybe someone should trace his posts as they did recently on the EBTM thread which highlighted the poster as a competitor to the company...very embarrassing!

[jimblebee] 26/11/2007 12:32

If I am not mistaken, which I may well be, then that post is almost identical to the one posted on here at 10:51!

Anyone with me on that one?

[jimblebee] 26/11/2007 12:29

Hi all,

*Ba5hir is back* could also be *Target Setter* and I think *Target Setter* could be numerous other posters! It goes on and on!

See below, post on iii website:

Re: MPH losing money in the US
target setter


In case readers cant work out the profit and loss its.

UK £250,000 profit

Europe etc £831,000 profit.

US £628,000 loss.

Now whats worrying is the £ has increased agaisnt the $ about 10% or more since the first half therefore the US could be increasing losses going forward.

In conclusion...I was right in thinking some operations were losing money ! Looks like they are giving stock away!

[momentos] 26/11/2007 11:44

AS are the dollars it "loses" ..... so any repatriated loss is less.

Give Tina a ring, she'll explain...

[ba5hir is back] 26/11/2007 11:40

If the £ increases the dollars it earns are worth less!

[momentos] 26/11/2007 11:38

Bash'd Ear. I think they call it "regressive expansion" as far as the US goes.

Oh, and to put you right on another statement:

"Now whats worrying is the £ has increased agaisnt the $ about 10% or more since the first half therefore the US could be increasing losses going forward."

Er, If the £ INCREASES then the losses REDUCE... albeit its not quite as simple as that (timing, sourcing etc.).

[momentos] 26/11/2007 11:36

NiMH, lol I think you hit the nail on the head.

I have heard that a bash on the ear (ir?) can cause huge problems with your balance. Explains it all really....

[ba5hir is back] 26/11/2007 11:34

"
3. The US operation is a disaster. Expansion plan number one was using Moda into the US. This has now miraculously morphed into a strategy to exploit emerging markets"

Aren't they continuing to expand in the US? I think they are and on a poorer dollar at that!

[nimh] 26/11/2007 11:34

Ask him which stock is the best in town. Dont be surprised by his answer.


(if i am not mistaken *bashir is back* is *fusebox*)

[momentos] 26/11/2007 11:30

Bashed Ear, the problem is that:

1. The company is demonstrating minimal margin is the UK, its core market, going into a potentially deteriorating retail environment.

2. The c 2.5 to 3m profit "hole" in the accounts cannot be satisfactorily explained by brand launch activities in emerging markets etc. These are (I believe) charged back under the UK financials. Either they HAVE spent 2-3m on these activities (which would be foolhardy), or they HAVEN'T, which means margins are squeezed.

3. The US operation is a disaster. Expansion plan number one was using Moda into the US. This has now miraculously morphed into a strategy to exploit emerging markets.

4. Confidence in both the financials and any statements from the company are completely blown.

The debt position is OK, it only becomes an issue if other things don't get resolved.

BTW stating the bleedin' obvious doesn't make you clever......

[ba5hir is back] 26/11/2007 11:28

Mock at your peril this stock has almost lost 75% from its highs and I think it will join the 90% club soon ie a stock that has lost over 90% of its value.

Its a dog with management I do not trust.

[nimh] 26/11/2007 11:26

momentos

he fails to grasp the term 'balance' in 'balance sheet'. Could be he is of 'imbalanced' mind.

[ba5hir is back] 26/11/2007 11:23

Yes she must be a relative of yours. Cos you dont understand the figures.

LOL

[momentos] 26/11/2007 11:20

Is this girl a relative by any chance?



Tina Farrell, from Levenshulme, called Camelot after failing to win with several cards.

The 23-year-old, who said she had left school without a maths GCSE, said: "On one of my cards it said I had to find temperatures lower than -8. The numbers I uncovered were -6 and -7 so I thought I had won, and so did the woman in the shop. But when she scanned the card the machine said I hadn't.

"I phoned Camelot and they fobbed me off with some story that -6 is higher - not lower - than -8 but I'm not having it."

[ba5hir is back] 26/11/2007 11:19

The fact is the co is building up its borrowings and interest costs are wiping out profits.

That will get worse.

[momentos] 26/11/2007 11:17

Ba5hir, sorry to ask a personal question, but are you a bit thick?

Quoting one side of a balance sheet without looking at the other is meaningless. On that basis every company on the LSE is going bust.

Back to school, I think.

[ba5hir is back] 26/11/2007 11:10

Bank overdraft and loans £15,7m

Tax liability £3.2m

LOL

Anyone is nad to buy this croc with such a terrible balance sheet.

[ba5hir is back] 26/11/2007 11:08

30,182 33,972 20,423
Current liabilities
Trade and other payables (6,281) (10,105) (9,446)
Current tax liabilities (3,286) (3,587) (2,604)
Bank overdrafts and loans (15,718) (13,896) (2,512)
Deferred tax liabilities (140) (72) (353)
--------- ------- ------
(25,425) (27,660) (14,915)

[ba5hir is back] 26/11/2007 10:51

krowlet,

The co has no doubt breached FSA rules the forecasts were wide off the mark. Personaly i am considering suing the co over this lot albeit my loss is only small.

...

In the meantime,

I was right in saying the co is losing money on some of its operations...


UK £250,000 profit

Europe etc £831,000 profit.

US £628,000 loss.

Now whats worrying is the £ has increased agaisnt the $ about 10% or more since the first half therefore the US could be increasing losses going forward.

Debt is also climbing and approx £15 million now. I dont go with the "buyout" bit the co will struggle to raise the money with the debt the co carries in these markets.

I also noticed they appear to have a tax bill of approx £3 million squids....not good.

With the co paying out a interim dividend, almost no cover all this is bad news for cashflow.

I think debt will rise and the co will have difficulty serving its debt.

[argy2] 25/11/2007 08:43

Try dropping a line to the FSA....I'm sure they will take notice as they probably already have a file on Michael Morris given his previous sacking by Directors,previous missed profit forcast and the refusal by at least one stockbroker to take on the company if Morris was a Director.

[krowelet] 24/11/2007 23:02

Anyone know if they have breached listing rules by not issueing a profit warning prior to the interims,will probably recover,but shareholder trust badly dented imo.

[wbjunior] 24/11/2007 22:50

Dean,Tufty, Barry and all thank you so much for your support, no one is more disappointed after holding for four years to be let down by MM and the management of MPH. Hands up to being financially nieve in having all my eggs in one basket and becoming to attached to one company as tufty rightly pointed out. All my post were as a result of contacts with the company that I shared on this board. For MM to say that investors are mad to sell really makes me annoyed after he had taken a huge bonus and then used internal funds to expand the business resulting in the earning crashing to 1.5p, I was under the inpression that you made the profit first, reported the earnings and then spent the retained earning. Financially my break even point was 100p and I sold for an average of 85p, therefore lost 15% plus four years of my time. On the plus side the guys on this thread have been fantastic, and I have learnt from all of you. I will be reinvesting shortly (not in mph), but needed time to stand back and recollect my thoughts, hopefully catch many of you on other boards soon,.....................best wishes and good luck wbj

[marben100] 24/11/2007 16:42

Barryrog, Polzeath: hear, hear! From the posts I've seen, WBJ did his best, expressed an honest opinion and I'm sorry to say appears to have suffered more than most. Unlike some on ADVFN, I've never known him post anything offensive or derogatory.

I hope that WBJ isn't too badly hurt (financially) by this fiasco and will be able to learn lessons and move on.

Kicking a man when he's down is despicable. Nuff said.