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Whats the worst that could have happened in just 83 days since lol
Itisagame, you beat me to it haha.
https://www.londonstockexchange.com/news-article/INLZ/covenant-compliance-and-update/15890760
And one INLZ rns too
Covenant compliance
As at 31 December 2022, Inland Homes plc ("Inland Homes"), which has guaranteed the amounts due to ZDP shareholders, had complied with all its covenants under the Loan Note, Contribution Agreement and related security documentation.
Inland Homes signs Self Remediation Contract
There you go
Someone's taking advantage of this price! Excellent.
I’ve been trading here Vs Amgo for small beans last couple of days and have gained nearly ~65% more shares here by not being greedy.
Which considering my first buy here was at 13.8p I’m very happy for. ~7p is now my brake even.
take it at 5.7 (or lower, if poss) and hold it for best price, 7p. then decide for yourself what to do.
might not please holders in the short term but give it two years and the sp would recover to better times.
sub 6p is cheap and, even if you don't believe in that future, look at the gamblers out there: folk are still buying AMGO, ffs!
the downward pressure is based on the mystery issue with the accounts. if it's a side issue then this flies.
but NAV is still way over this level, regardless.
The mad part is it wasn't long ago they spent millions buying back shares when they were 40p+. They only stopped when it was clear they were on course to run out of cash but by that time balance sheet was utterly weakened.
Cash available at subsidiary level and not PLC I assume.
Older guys bought in, they will take part in placing, wind it up, sell down assets, buy back INLZ share at steep discount (80p bid today over £2.01 to pay them off in a year), pocket 25-30p / share nav plus a salary, and be done within 12 months.
company is really in a good position!!
first renegotiations with the bank for covenant waivers and now this premium placing!!
house market has not crashed too as per some predicted!! instead it is very stable condition or in many areas prices are still rising!!
also recent planning consent granted at Cheshunt Lakeside!!
all coming together and this is the great opportunity to get in cheaper!!
Ask is rising with every trade and 10p will be coming here really quicker than many expects!!
AIMHO DYOR.
The fact that they need £5 million points to the company being insolvent, and the banks will not lend them any more. Announcements regarding funding via additional shares are normally made after all the funding has been agreed. Would not be surprised if the supposed £2.5 million new funding is Wicks and Nish. This looks dead in the water and the end game is being played out. Would not be surprised to see some legal actions being brought. What were the former non-executives actually doing other than collecting a pay cheque?
I agree
I agree, I topped up this morning at 5.95 - this will bounce back IMO
!clear some of the debt to INLZ and things will look rosy. not saying there won't be concerns along the way but, what do you expect for 10 bags!
all the usual mystic megs throwing in their fourpenn'th. meanwhile, the sp will rise, and whoever takes the 10p funder is probably also going to be buying in on these lows too, if it's possible to buy any quantity at a discount to nominal.
don't see a problem here.
but for all those 'i see trouble ahead' the sp is already inthe toilet so you're 12months too late with your obervations.
this is going to be a nice recovery stock.
Would they get tax back in April 404x ?
The value of my holding is as good as worthless however I will be going to the AGM more out of curiosity to see what if anything is being said,all I can say at the moment is what a mess,Co CO the clown couldnt make a worst job!
The other mystery with this firm is how far off their numbers were at year end.
On the 6th Sept they said:
"Group is expected to make an operating loss of approximately £29.3 million for the year ending 30 September 2022 and a loss before taxation of approximately £37.1 million.
Net assets at 30 September 2022 is approximately £145.9 million."
Then on 25th Jan, contrast:
"The expected loss before tax for the year ending 30 September 2022 is now approximately £91.0m and the net assets at the balance sheet date approximately £90.0m"
For a small company pretty chunky differences. Sept figures were close to their year end also, 11 out of 12 months done at that point. No wonder the auditors are struggling with their numbers.
the company's done hundreds of joint projects. theyve managed as third party too so they'll have access to all the interested parties who'd want in on a new buildig project.
might be something untowards with a transaction somewhere and possibly related interest of a BED or somesuch but i don't see it dragging the copany down. and, at this level, even if it turned up its toes, its assets cover the debt AND then some. not sure where NAV is currently but it sits way above 6p.
Ah, thanks for that. I like a bit of delving being a forensic accountant myself. IF it was that transaction then someone or someones are probably not sleeping very well right now.
Go ahead to build a new village means absolutely nothing if the cash is not there to commence works. They are a cash starved developer with a mountain of debt. no one is going to finance this project, unless there are some heavy interest rates and repossession clauses. they would need to out lay for 2 years before they start to see anything come back in on sales
They notified market of transaction in late Jan so too late to fall within any published accounts. Transactions like this opaque at the best of the times with legitimate companies when above board, on the other hand auditors would have full visibility...
This company now has a nasty smell about it.