Morses Club Share Discussion Threads

[the codger] 15/12/2022 16:03

Then administration and wipeout for all.

[forfaiter1] 15/12/2022 15:53

The FCA did not agree to amigos SOA.....they just did not go to the court hearing to contest it.....

[robizm] 15/12/2022 15:37

If a company is wound up all liabilities must be paid off first before any residual monies can be paid to shareholders. The directors put the outstanding claims on the balance sheet as a £40 million liability therefore in administration they are paid before shareholders. That is why Morse with a £36 million net loan book £8 million cash and other assets of £10 million less £18 million debt is trading at £1 million market cap.

With the coming recession and cost of living crisis and the FCA not accepting the SOA yet and the fund raise are all negative.

If SOA accepted and compensation claims are halted ( they paid out £16 million compensation first half) they could return to profitability next year and prove their is a viable business which would make the raise easier in 2024. Way too many ifs for me when FCA objection will result in administration and shareholder wipeout

[the codger] 15/12/2022 14:54

The complaints process should be long and thorough. It could and should take months if not years.If as you say shareholders get nothing this should be suspended immediately whilst claims and restructuring is completed.

[robizm] 15/12/2022 14:27

If it goes into administration the loan book gets rundown the loan is paid back and all other costs and whatever is left will go towards paying the complaints off. Shareholders will get nothing but some compensation will be paid as borrowing etc is £18 million and net loan book cash etc is around £56 million less any impairment. I ignored any intangible assets but even the business must be worth something.

[robizm] 15/12/2022 14:02

The FCA have not agreed to Morse halting claims (unlike Amigo) and are still processing them so the ambulance chasers will not stop. The balance sheet at August was in better shape than I thought.

My gripe is that the company are willing to gamble all shareholders capital in a all or nothing scenario.

[fenners66] 15/12/2022 13:51

Since he posted everywhere that he was buying Currys , its fallen about 33%


What's the opposite of Midas Touch ?

[the codger] 15/12/2022 13:42

Put the ambulance chasers to bed first.
That seems to be the culture in this country now.lie,lie,and lie again to get compensation for false claims.

[the codger] 15/12/2022 13:38

As soon as potential investors run a slide ruler across it

[the codger] 15/12/2022 13:37

This will bounce up soon

[robizm] 15/12/2022 13:25

Blackhorse lost out big time on curry’s as well today.

[fenners66] 15/12/2022 12:51

All the way down to 1p after all the incessant ramping Blackhorse spent his time doing....

who would have thought it ?

[the codger] 15/12/2022 09:37

Many twists and turns in this recovery.
Hang in and stay strong

[forfaiter1] 15/12/2022 08:34

You know all 98% declines being a long suffering metro bank holder ?

[paul planet earth] 15/12/2022 08:26

Not long till -100%!

[paul planet earth] 15/12/2022 08:25

Morses Club PLC
LON: MCL

OverviewNewsCompareFinancials
1.13 GBX -58.07 (-98.09%)year to date
15 Dec, 08:16 GMT • Disclaimer

[the codger] 15/12/2022 08:18

Excellent progress

[paul planet earth] 14/12/2022 19:55

The codger - 25 Nov 2022 - 06:55:24 - 247 of 281
How's that sub 1p doing

———;——̵2;——R12;-

purfect!… how’s your 6p doing tw@t!

[paul planet earth] 14/12/2022 19:53

Yeh right what price did you buy in at 50p lol!

[the codger] 14/12/2022 18:09

This story is far from over. I see potential recovery in the share price.
A multi bagger.as such I rate this a buy

[paul planet earth] 14/12/2022 16:13

My target 0p and I’m being generous at that!

[fenners66] 14/12/2022 12:41

Was it top of the losers board yesterday ?

AND

number 7 on the list today ....

[the codger] 14/12/2022 09:04

My target is 2p

[the codger] 14/12/2022 08:16

Time to top up