Not disappointed - it's a buying opportunity and I'm topping up when I can - major market correction due soon. MFX are on course to deliver a 4th consecutive interim in profit - if their 2nd half is as good as their first they will report £1.6m-£2m full year profit - could even be more than that if some of their £20m deferred income starts to flow to the results. 2 years ago they had £67m assets - £102m assets last count and rising. £1.6m/£2m projected profit versus £12.6m market cap!!! and £5m of it's own cash up it's sleeve too. Sit tight...
IMO you want a board that jealously guards the companies equity for the benefit of shareholders. In the case of Manx you have a board awarding themselves an excessivec number warrants and consequently diluting shareholders for thier own benefit so would not be for me.
Delighted with this second opportunity at 13.5p as, with added benefit of seeing the interims, the PER even at the diluted level is not unreasonable and if they kick ahead with growth (recent loan book opened), then the future will be bright in my reckoning.
Balance sheet also good and interims slightly impacted by provision and Edgewater breakeven results
yep...indifferent...I see these CULS all over the place...at least with DDD, the company got a good deal
...SPE is the most egregiously awful LT example I have found of insiders having their cake and eat it...managers on large salaries not prepared to take straight equity risk when they are in control...whereas us poor s*ds have no control (except selling/liquidity) and are right at the bottom of the capital structure
seems indifferent to me - but it might wake up once MFX gets proper broker coverage/analysis like its peers such as 1PM get - take El1tes recently published analysis of MFX for example - even taking into account diluted PE/dilution Elites analysis shows Manx is undervalued. Seems to me that MFX are going in the right direction growth/profit wise. If it keeps going at this rate there'll be a market correction soon.
seems worried...which makes sense imv...perhaps they agree with me that this goes wider than the dilution issue
...Jim...this aint cricket...pls convert soon, and undertake to vote against any more non standard equity (no more quasi equity or anything like that)...
....a simple capital structure is the only reasonable approach to quoted/listed equity (yes yes just my experienced opinion)....and certainly no significant dilution to related parties (beyond the odd out of the money option or two million to encourage the team)... otherwise insiders are favoured way too much
...you have done well (yet again)...congrats...but dumb money should be aligned with you, not eating what is left from the dust
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