Proactis Share Discussion Threads

[smithie6] 19/3/2019 09:47

imho
they must have surely broken the loan conditions

I think my rough calc was a debt of 6-8 times the cash being generated....much higher than what most lenders would accept (3 , 4 phps ?)

& that may well be why iis are selling despite the share price being a fraction of what it was at last cash raise....so clearly they dont like the story/situation...nor the dirs since they 'basically' are not buying....at all

I got out as the "last" !! bounce failed to continue...avoiding a 25% fall since then....phew..

----

considering if you would buy the whole co. if you had the cash ...is a great valuation method imo
..at the moment I wouldnt pay anything to buy this co....due to the big debt and client retention problems...& poor sales 'pipeline' ...& poor info flow to the mkt.

[durthur] 19/3/2019 09:39

Apparently the loans have a 2.5x LTM EBITDA covenant. Not clear what the EBITDA includes (generally a lot more adjustments than they make in filings), but they're likely going to be pretty close to their limits.

More likely that they renegotiate headroom (and give a bit of a higher rate) with HSBC than capital raise, but its not off the table.

[eggbird] 19/3/2019 09:15

That's exactly right, nobody knows! People guess - often in the form of predictions which they try to make sound very convincing. I bought in at what I thought was near the bottom wrongly at 40p but as long as I'm somewhere close then I can live with it. Ive averaged down several times since, but i wont do it again now. Its time to let it play itself out.

Let's see what happens over the next few weeks/months!

[eezymunny] 19/3/2019 08:50

Hey, I don't predict 10p. That's just a scenario if revenues keep falling, loan covenants breached, followed by fund raise. None of those on the cards right now AFAICS (tho we're not told what covenants etc are on the bank loans)...

I'd be surprised if it falls much further from here but you know, nobody really knows...

[pre] 19/3/2019 08:42

something just doesn't look right here...more II's selling including the main shareholder too?

[gripfit] 19/3/2019 08:38

I’m in at 10 p

[escapetohome] 19/3/2019 08:34

Well done Eezymoney.

I sold mine on the bounce for a quick profit, thanks to him.

But so far he called this right, it has gone further down, but no where near the 10p yet.

[depjoe] 19/3/2019 08:20

Oh dear dave

[buywell3] 19/3/2019 05:26

You ... .... . horse .. ..... ... you .... .... ... drink

[smithie6] 18/3/2019 23:11

"all variables are [correctly] priced in to the chart"

not true imo

eg. the 2 big drops in the share price chart...from 200p..were not predicted by the chart shape at that moment

[buywell2] 18/3/2019 22:27

Perhaps they are a bit ashamed to own up to dropping one

I did try to warn folks

NOBODY can beat Mr Market

See ... all variables when you think about it are priced into the chart shape

[coldspring] 18/3/2019 21:52

There has been a buyer taking large chunks of these over the last week so a TR1 is quite possible but waiting for it is somewhat painful.

[mister md] 18/3/2019 20:23

no, the whole stockmarket has climbed 10% since start of the year. This share has been trashed. There hasn't even been a technical bounce, some were expecting one today ... hard to see what can stop the trend, a buyer RNS perhaps, but how likely is that ?

[sunnybeachboy] 18/3/2019 19:37

The whole stock market is very stagnant at the moment with only a few movers. I wouldn't worry about the price on this at the moment

[buywell2] 18/3/2019 17:42

If you read buywell's posts you would already know that


Mister MD18 Mar '19 - 14:22 - 2681 of 2708

was that the price capitulation or is there more to come ?

[eezymunny] 18/3/2019 16:50

EV / sales is about 1.34. Not an "absolute bargain", especially when sales are falling IMVHO.

[p1nkfish] 18/3/2019 16:21

Not your average plunge and bounce.

Either this is an absolute bargain or there is something the big boys know which we don't yet.

Sooner there is clarity the better.

Wonder if this turbulence will impact new signings as some will want to know the company is solid and balance sheet strong.

The debt with growth was OK. Take out the growth and it's a real drag.

[maccamcd] 18/3/2019 15:38

some good spivs in the space.
Normally worth following

[p1nkfish] 18/3/2019 15:30

Suspect foreign imho as UK would usually be on ball except if a very large seller not wanting to advertise yet - Artemis?

[mull3r] 18/3/2019 15:22

Who is on the other side of all this selling? No RNSs ...???

[depjoe] 18/3/2019 15:13

the chart does not LIE
but dave
LOL

[depjoe] 18/3/2019 15:12

you will LIE
so others will BUY
then you can SELL

[depjoe] 18/3/2019 15:11

oh dave you have no idea

[dave4545] 18/3/2019 15:09

All over the place online. One minute nothing offered and looks good the next it's weak and size offered below mid price.

mm's playing with the pi's