Stanelco Share Discussion Threads

[grax] 11/5/2010 10:01

What are the expectations that the performance was 'in-line' with?

I'll ask again as you seem to be overlooking some pretty fundamental elements of running a company.

What are the expectations that the performance was 'in-line' with?

Whilst initially you seemed to have some insight it is now clear you don't have a clue and are now just trying to argue for the sake of it.

Support PM all you want and defend him by all means but if you don't know what is happening in the company or its' history then your quesions have no value to me in this debate.

[the_doctor] 11/5/2010 09:57

grax

you're coming out with
'Who knows what 'in-line' is/was supposed to mean'
'why did the FD not see this coming

Hardly rational comments

If you're not going to back up your posts about aborted acquisitions, then up to you

[the_doctor] 11/5/2010 09:40

grax, given you havent posted it here, I suspect you're talking crud.
Let's face it, looking at your posts you have a tendency to.

[grax] 11/5/2010 09:30

It was only a very good plan in the mind of one person.If you can't be bothered to ask the company yet still want to spout your PM defensive message I'm not going to do your research for you.

I will tell you that one person had a completely different expectation of their credit worthiness than the person supplying the funds.

[jarvis4] 11/5/2010 09:26

sirmark

Any comments/insights you feel you would like to make at this time?

Given your enthusiasm for SEO I am sure other holders would appreciate your views, I know I would.

[the_doctor] 11/5/2010 09:04

maybe the acquisition was a very good plan?

I'm not going to bother asking the company, so why dont you post the costs of the 'aborted' acquisition, why it is not mentioned, why it was supposedly aborted etc.

[grax] 11/5/2010 09:00

doc

If you don't know about the aborted acquisition.The costs of it,the time it took and the reason it is not being mentioned anywhere now can I suggest you make contact with the comapny and find out or put your own feelers out because you are missing a very key part of the picture.

The fiasco of the CEO grossly misjudging the support he felt he had is also contributory to the lack of appetite for the cash call.

You are not playing with the full deck, nor are the shareholders due to the boards refusal to be open and honest.

[the_doctor] 11/5/2010 08:54

'Now that it is skirting profitability it would seem strange to offload it'

the cash being used to allow the rest of the business to survive.

'Who knows what 'in-line' is/was supposed to mean? deliberatley vague'

revenue and operating profit.
It was in-line.
Cash was going to run out whatever. They never suggested it wouldnt


'If there had been a clearly laid out strategy and honesty from the company all investors would have been able to make investment decisions based on those.
There haven't been.Forecasts have not been put out,strategy has not been laid out.PM has not been open with shareholders about the aborted acquisition'

there IS a clear strategy - to grow until sustainable
The bioplastics operating profit before litigation helps to validate that plan.
Seems clear and honest to me.

What aborted acquisition?? They just said it was something they were looking into - a sensible idea. It could give them the scale they need and you take two businesses on the verge of profitability, strip out costs = one larger profitable company.
Maybe they found they'd not be able to get the financing for it. Maybe they need to wait a bit further and demonstrate more growth.

grax, you keep making out that the directors are just frittering away cash and raising more just for the hell of it.
Dont be so childish.
You invested in a business that wasnt profitable.
It was always going to need more cash until profitability was reached.
Maybe it found things tougher than it expected - markets changed in 2008!

I'll leave it at that.

[grax] 11/5/2010 08:51

Selling at .171p

What price by close or by when they declare the strike date and discount?

If the strike date was the day of announcement you would now be buying at a premium of 18% above the open market.

These are the problems that come with poor decision making.

[grax] 11/5/2010 08:47

I can see there is logic in selling RF BUT only if you've got a viable plan for how you would use those funds to achieve sales of Biome etc.

Now that it is skirting profitability it would seem strange to offload it.Especially if you've got no specific use for the funds it would raise except to shore up further expense and overheads.

[the_doctor] 11/5/2010 08:41

Given the RF business is now profitable, do you think they'd sell it?

They may want to wait for it to grow a bit further first, but selling that earliy may be less dilutive than raising cash at a low price?

...ah, I see. Yes, they've decided that a fundraising is a better option, but if that fails, will have to sell up.

[the_doctor] 11/5/2010 08:32

jwoolley,
agreed

grax
'If you pay a FD £145k + £35k bonus and that FD couldn't see this coming'

who couldnt see it coming?
I think the issue has been that you read 'in-line' as meaning no further cash needed. It didnt.
The revenue growth has though been as planned, just they're not profitable yet.

That's partly why they may need M&A to increase scale and reduce proportional costs. It's often too hard for small co.s to become sustainable.

Note this
'in support of our growth strategy the Directors will reduce
their remuneration packages during this period of cash constraint by approximately 30% following successful completion of the
fundraising described below and make further staff cost reductions.'

Honestly, I'm sorry for shareholders here such as yourself, but you've got to be realistic about it all - both about what has happened and looking forward.

[daw2] 11/5/2010 08:29

grax agree with you it is bordering on the criminal what Mine's has done given what he knew and what he has taken from Stanelco. Lets hope he has some very good answers for the AGM

[grax] 11/5/2010 08:24

doc

'a struggling business' It is now without doubt.It has taken 3 years and the spending of £8m of shareholders cash and numerous egotistical decisions to make it so.

Don't all the company statements say it is inline? etc

If you pay a FD £145k + £35k bonus and that FD couldn't see this coming whilst taking bonuses out of the cash pile you've got a major problem.

[grax] 11/5/2010 08:20

JW
Not sure where you get off telling anyone their own investment decisions are silly .

Your comment does bring out the point that,as I've said, good market, good products but, in my opinion, wholly inadequate management.

I will not give another penny to these chancers.They have had a long time and a lot of goodwill and they have failed, no other way of describing it.

If the management are replaced I will review the investment opportunities but while this bunch of incompetents are mugging shareholders for their inflated salaries and bonuses [FFS bonuses!]I'll be taking no more.

[the_doctor] 11/5/2010 08:19

'but you obviously meant .16p in which case they would have had announce that at the same time as the cash call'

not too sure they'd have to


'The current board have squandered all the cash,goodwill and future of this company with their self-centred greed.'

is it beyond you to consider that perhaps it's just a struggling business?


'and they've got the cheek to ask for more'

or shareholders lose everything then grax. Perhaps you'd prefer that?

[jwoolley] 11/5/2010 08:11

Well thats just silly graxy....thats the problem...not giving the company any funds will see the company collaspe and the money that you invested gone...plain and simple as that....but giving the company money and insisting the current management step down is the best way forward because the companies products are still good but needs to be run under a better management...

[grax] 11/5/2010 08:07

The bid has now reached the record lows again.The current board have squandered all the cash,goodwill and future of this company with their self-centred greed.

..........and they've got the cheek to ask for more to further line their pockets while they fail to agree a single deal of any value.

I won't be giving them a penny more.

[grax] 11/5/2010 06:54

Brown has fallen on his sword. The whole SEO board should follow his example.

I'd never have thought that Gordon Brown had more dignity and self awareness than Paul Mines.

It can only be greed that is keeping him there.

Do the decent thing Mines , for the good of the company.Take your incompetence and greed and move on.

[thecrownsucks] 11/5/2010 00:41

what about USA...someone pressed the wrong button allegedly and caused a 1000pt fall in the dow

[gnatschuff] 10/5/2010 23:18

is he privy to the 1,500 to 1 consolidation ?