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Magnolia Pet Share Chat (MAGP)



Share Price: 0.155Bid: 0.15Ask: 0.16Change: -0.005 (-3.13%)Faller - Magnolia Pet
Spread: 0.01Spread as %: 6.67%Open: 0.16High: 0.16Low: 0.155Yesterday’s Close: 0.16


Share Discussion for Magnolia Pet


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smidsy
Posts: 4,866
Off Topic
Opinion:No Opinion
Price:0.155
RE: MAGP in the hands of the bank!
Today 10:32
These figures are now six months old and reflect oil prices at some $20 plus. Now the situation is changing. does anyone have contact with the BOD and ask for six months Management Accounts with a proposed future forecast?
 
discopablo
Posts: 2,496
Off Topic
Opinion:No Opinion
Price:0.155
RE: MAGP in the hands of the bank!
Today 10:24
With respect it's an emphasis of matter not a full qualification.

I appreciate it is not good, but if you read the detail in the note to the accounts it focuses on historic events. At the time the accounts were prepared it was a disclosable fact and as such it needed to be reported.

I'd rather a set of accounts without it, but you could look at it another way. It's not interest cover, it's current ratio, which is largely easy to overcome if the company is cash generative anyway.

What you also seem to have not mentioned is that the covenant was broken, yet the bank did not recall the loan! The bank might not be particularly fussed - it will have been the auditors who will have pressed for this to be included in the accounts not the bank.

Also, MAGP is not in the hands of the bank as you put it. I think we've had enough scaremongering comments for one month don't you.
gorgeousgeorge
Posts: 285
Off Topic
Opinion:No Opinion
Price:0.16
RE: MAGP in the hands of the bank!
Today 10:13
No, I'm not looking to come back in. A going concern notice is bad news indeed. MAGP is at the mercy of its lender. The report even states "Funding future growth will however be via the Group's own generated cash-flow wherever possible". In other words, no one will lend to them. They were supposed to be making bank-funded acquisitions in the first quarter this year, SS was pitching that to investors like me as recently as last November. Yet, at the same time, the company was in breach of its banking covenants. I suggested at the time that I was worried Snead didn't seem to quite have a grasp of the situation but I was reassured in conversation with him. Now we see that he did indeed have a grasp of the situation - in fact he knew far more than he was letting on. That is not good folks!

It may be that we see higher oil prices and that the financial situation improves but at the moment I think there are better prospects out there.
Guidedog7
Posts: 606
Off Topic
Opinion:No Opinion
Price:0.16
cash generative despite drop in oil
Today 09:03
smidsy
Posts: 4,866
Off Topic
Opinion:No Opinion
Price:0.165
RE: Very very simple
Today 07:58
Mr. English,
I think I know Mr. Hodgson is. I'm afraid I dont follow football so I didn't know the result of the game yesterday until now. Has he just packed in with the England team?
smidsy
Posts: 4,866
Off Topic
Opinion:No Opinion
Price:0.165
RE: Very very simple
Today 06:51
Good morning maggots,
Mr. English, who is Mr. Hodgson?
MrEnglish
Posts: 960
Observation
Opinion:No Opinion
Price:0.16
View Thread (2)
Very very simple
Today 06:45
and you probably don't need to even look at the EOY results to work it out...

If the WTI continues above $50 everything will come good, if it returns below $40 then I think MAGP will probably follow Gt. Britain, Mr. Cameron, Mr. Hodgson (Mr. Corbyn - soon). In the mean time the band should play on.
bakky
Posts: 3,462
Off Topic
Opinion:No Opinion
Price:0.16
winnifrith
Today 00:23
will tear this apart later!!
bakoven
Posts: 3,709
Off Topic
Opinion:No Opinion
Price:0.16
View Thread (6)
RE: MAGP in the hands of the bank!
Today 00:19
GG - I am trying to decide if your fluctuating innuendo over the months has an ulterior motive. Please bear in mind that many of us have been in business for 50 or more years and have a reasonable handle on risk factors. SOS/RFW have always been up-front with their reporting. Added to which they have possibly accomplished more during their careers than the rest of us combined. Periodic attempts have been made to denigrate the company. Some of the remarks have been damaging, and we ought to remember that the BoD are not responsible for the oil price.

History shows the boom and bust years in the oil industry. There is no evidence to suggest the next 5 years are going to be any different. Rather let stakeholders make up their own minds. Included in the permutation are Scoop, Stack, Springer, etc which could be transformational across several OK counties.
discopablo
Posts: 2,496
Off Topic
Opinion:No Opinion
Price:0.165
RE: MAGP in the hands of the bank!
Mon 23:51
GG - 5 hrs ago you were out for good. Are you looking for a better re entry price, annoyed you've realised a loss or trying your best to take all genuine long term holders down with you?

All of the above is not honourable. I'm sure you're better than that.




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