Psource Share Discussion Threads

[tomboyb] 11/4/2013 22:31

Second point - is that i think they will go for the liquidation. However if management can be changed and the current portfollio worked on then it could potentially recover -

RIG was a classic example where everyone had written it off 2009 - 1p now 34p - Thats a return - best of luck.

[tomboyb] 11/4/2013 22:15

Well - Hendersons have been in quite early and sold @ higher highs - they are now buying back in with a few inst taking a heafty tax loss - PSD listed raising in total around £63mill - so to get from £63mill to here is quite an achievement indeed -

Another investor took up the reigh and has taken 3% - a finance director of some sort - Agreed that Parabel are the major factor here but also there is no debt here which is a huge positive in these cicumstances -

For me @ these levels its a great risk - reward strategy. The stipulation however is that if decided on liquidation, it should be done on a premise that the company stays listed here - There are various reasons for doing so.

[27macca] 11/4/2013 21:59

That's a good honest post,and I am also intrigued by this play and the Hendersons buying etc.It could be a NEOS all over again maybe and not end up being liquidated?Who knows but the buying and increasing of stakes by at least x2 institutions/investors is fascinating.

[specuvestor] 11/4/2013 21:48

tomboyb

It looks like they are getting that NAV from Loans & Receivables. According to the Feb 13 interim statement Feb 2013 the value attributed to Biovest is $1,616,573. In March 13 Biovest Company filed a petition for protection under Chapter 11 of the U.S. Bankruptcy Code and a Plan of Reorganization seeking to implement a restructuring of its balance sheet that would eliminate approximately $44 million in senior debt. I presume that PSD will be affected as the debt will be converted into the shares of a speculative and loss making company.
The largest portion of this 8.4p is attributable to Parabel who are in debt to the tune of over US$90mm and rising. Granted they have just had an injection of $15m but that is only 6 months cash burn.
I am intrigued that Hendersons have bought in. If they know something it is certainly not in the accounts. I am tempted but must be prepared for a long and arduous liquidation process which may or may not lead to a return of capital in PSD's investments and loans.
There again it wont be the first time that a fund manager has managed to lose other peoples money.
One for the brave. Don't bet the farm on it.

[moz8] 11/4/2013 21:30

Top slice at 4p..not bad..now wait for assays results to be released..

[tomboyb] 11/4/2013 21:22

Thats cool - I'll up my stake.

Hows GWMO? After 1000 posts you've managed a cool 1% - almost beating the market -

[moz8] 11/4/2013 21:21

.5p 2morow..

[tomboyb] 11/4/2013 21:17

Sorry did u say Hendersons?

[moz8] 11/4/2013 21:16

He meant .8p!

[tomboyb] 11/4/2013 21:12

Specuvestor - Looking @ you're previous posts i assume u know - lol

For the same reason Henderson have upped their stake -

[specuvestor] 11/4/2013 19:26

Where does the 8.4p come from? They only have (as at 27th Feb) US$281.633 cash burning at a rate of US$37,000 per month. The liquidators would soon eat up the rest of the cash in liquidation costs. Where are the rest of the assets?

[tomboyb] 11/4/2013 15:59

One other thing i would probably add - although this is heavily discounted the share price reflects on some holders selling and some incredibly poor traders - this is an opp -

[tomboyb] 11/4/2013 15:50

Well - historically Hendersons have been in from the very beginning and have bought 4.8mill taking them up to 12% - I can see value here although it may take a short while -

[freefall3] 11/4/2013 15:48

El Don looks like some have not taken your advice looks like freefall is on its way here. Another quick P & D they dont last long these days.

[flying pig] 11/4/2013 15:48

This is a spin of the coin - the managers have a healthy sense of vested self interest, and little concern for fiduciary duty considerations.

[donsan] 11/4/2013 11:43

don't get caught up in all the hype, check the fundamentals very carefully !

el Don

[ryan83] 11/4/2013 11:41

its a potential liquidation play.

Assets written down by 80% to 8.4p
No debt
1p to buy!
last fund raise over 100p
Threatened liquidation = money back to shareholders!
OR
Takeover = as long as its 2p or above :-)

Henderson has taken 12% of company

[moreforus] 11/4/2013 11:40

asset value is 8.4p

it'll either delist and cash returned to shareholders - there is no debt - or it wont qhich would be price positive

Hendersons just bought roughly 5 million shares

[johnspain] 11/4/2013 11:38

guys,
anyone got a quick summary here?
obvious crash in march, what's the reason to buy now?
cheers

[5310carraroe] 11/4/2013 11:36

Do you really think so Comedy?

[moreforus] 11/4/2013 11:36

already moved comedy

[comedy] 11/4/2013 11:35

M4US seen the 2.3mill sell for psd...think that was holding us back...have a feling as others see it share price will start to move:)

[comedy] 11/4/2013 11:33

you buy the tin:) glad u arent disappointed:)

[comedy] 11/4/2013 11:32

ps the minute 1p goes that is when the rush will come in...it is the pyscology of the 1p barrier that holds them all back:)