Non-standard Finance Share Discussion Threads

[grapevinefriend] 06/6/2020 21:20

Superior, I'm no fan of charts either. But you can link every step down on the chart over the past 2 years to news released by the company. The last time the company was 60p it released news of the PFG takeover which the market didn't like, thus the share price fell. The last time the Co was 40p (and recovering), the Co released news that it was to add to its impairment charge in case of a recession, even though this was a prudent, sensible (and in hindsight stroke of genius given CV was around the corner) move, the market didn't like it, thus the share price fell. Then of course the fall out from CV in Feb/March hit us. Each step down can be accounted and reasoned for which gives me optimism that the share price can recover now the company is moving away from growth and more towards profitability.

[ianb5004] 06/6/2020 21:13

Someone’s putting a big shift in with the negative posting.
What’s the agenda?
Have they refused you a loan or are you short or ex employee, provident connection maybe? Clearly something got your goat.
Keep it up if it makes you happy, always good to hear a bear view.

[superiorshares] 06/6/2020 19:55

Tournesol. Ok thanks for that reply. I will be honest with you as far as computers go I am not interested in them. All I know is I can do anything on them I need to anywhere. I didn't know any firms did anything on paper anymore ?. See with my bank I do internet of sorts :-). I have about 38 e mails from them , I don't even bother to open them. I do know if needed and my permission was given or a court gave permission :-). Somebody else could access all off the transactions etc on that account and they could do that from anywhere in the world. Could do it whilst they was having a bath if they wanted. Just assumed you could audit accounts in exactly the same way. ??. I can only imagine the Inland revenue or VAT inspector s physically going to an office to seize hard drives and the like . I sit very close to a accountant 7 days a week, even eat meals and drink coffee with her. Although she does account s for a private school. Everything normal there. All done from home, meeting s , the necessary work for the Chinese students to arrive etc etc. Right through the lockdown. . It's getting on my nerves because it has knocked my Shar pei dogs out of routine !. I still can't grasp the fact an auditor can't be given access to all a firm's account s remotely.
Anyway look at NSF chart, it hasn't gone down like that for no reason and as I say it started going seriously South before people had even heard the word coronavirus.
Regards

[grapevinefriend] 06/6/2020 18:21

Kemche, I don't know AMGO in great detail, but looking at their previous accounts they look like they could be a solid profitable company if better managed. They are by far the largest player in the guarantor sector too which could be very appealing to NSF. I'm fairly sure they have recently fallen out of favour with the regulators due to poor practices, particularly with rules around the guarantor of the people who have taken out loans with the company, this looks like it's going to cost them some serious £s. I also see the directors have fallen out big time with the largest shareholder which has led to a rather messy public spat, resulting in the directors being forced to resign (unless the sale of the company goes through which would no doubt see them well rewarded).

[kemche] 06/6/2020 17:09

grapevine, do you know whether Amigo have any problems?

[tournesol] 06/6/2020 17:06

You can't do a statutory audit without spending time in the client's office, examining the client's computer systems, paper records, bank transactions etc etc.It's not possible simply to sit at home and ask the client to email stuff to you, it would create a serious risk of fraud and error.

And even before that, the client team can't simply sit at home and conjure up the accounting records via email without some recourse to hard copy.

So of course completion of accounting records and audits are inevitably delayed by lockdown.

[johnhelme2704] 06/6/2020 17:05

Although I admit my son is not being asked to do work while on furlough. So that accountancy firm might not have work for him. He isn’t very senior. Just a grunt audit clerk. But a stepping stone to the future for him I hope

[johnhelme2704] 06/6/2020 17:01

Superior shares. That’s a bit naive. People are furloughed to save money and for the govt to pick up the tab for their wages

[grapevinefriend] 06/6/2020 15:22

32 agreed, nothing in the results to be concerned about. Will be very interesting to see the outlook though. This could really make the share price move, as could the reinstatement of the Div, that would put nitrous in our rocket for sure.

I am starting to wonder if maybe NSF are AMGOs secret bidder and this may be adding to the delay. If we manged to get AMGO for 21p I actually think that would be a brilliant piece of business. Not sure how the share price would react to that news though.

Superior, surely people working from home are WAY less productive than those in the office 9-5 everyday?

[32campomar] 06/6/2020 14:35

Yep, he said 2 or 3 weeks - and 3 weeks from my phone call is Monday. So giving a little leeway, I would be a little concerned if it wasn't next week. No doubt about it this delay is causing nervousness and I'm dissapointed with the lack of communication on the matter. But I am personally not concerned about the content of the results.

[superiorshares] 06/6/2020 14:23

People are only furloughed if there is no work. or you cant work from home . Can anyone tell me please why an auditor cant do that work from home ?.
Let me used Pubs as an eg . They are totally shut. It does not stop them being audited or the office staff that work from those pub groups doing all there work from home . as they have all been doing . Along with every other business on the planet and school and council and Government .
Explain that to Simp itsnotmeitsyou when they return from MCdonalds please.

[johnhelme2704] 06/6/2020 13:22

its not a massive firm where he works; 10 offices and over 300 partners and staff. I am inferring that it will be common practice amongst accountancy firms. He was due

[grapevinefriend] 06/6/2020 12:10

Nice one John. I spoke to IRs again this week and was assured the delay was simply the auditor having staffing issues (which makes perfect sense).

Anyhuw, if what 32campomar was told awhile back is to be true, we should have the results this coming week.

[johnhelme2704] 06/6/2020 09:43

My son works for an auditor. Quite a large firm. Most of them have been furloughed so they are short staffed. Due back to work on 15th June. Before furlough he was indeed working from his home for a month and expects to be doing the same mostly after furlough

[superiorshares] 05/6/2020 20:41

I hear a few people given the auditors reason for delayed results. In this computer world it fails me that this work can't be done from anywhere .

[32campomar] 05/6/2020 20:34

For info, TSG has announced this today, so results being delayed is not unique to NSF'The Group's auditors have been delayed in completing the 2019 audit, as a result of the challenges presented by the current COVID-19 pandemic.'

[ianb5004] 05/6/2020 20:00

Just a seller, be gone soon.

[superiorshares] 05/6/2020 18:32

Gramps here. All that excitement today. NSF went no where ???. Any chance a problem lurking here ?

[divmad] 05/6/2020 18:21

Never mind the debt then .

[itsnotmeitsy0u] 05/6/2020 18:07

The MCAP I mean

[itsnotmeitsy0u] 05/6/2020 17:43

Well I'm not afraid to say I added over 200k of stock this week - almost all under 11.50pIt is now valued at less than cash!!

[arai] 05/6/2020 17:31

This must now be one of the most undervalued stocks around, everything else seems to have smashed through the roof this week, the 8 companies with a tick next to them on my pad have all moved like its dot com mania all over again, except this one. Do I lump in all my MGGT gains ?