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We are due a trading update in a few weeks so here are my thoughts on q2
100pc growth - behind guidance
150pc growth - inline with guidance
200pc growth - game on
Sadly since that post there has not been one exceptional rns, there has been one rns with 104 pc growth which is not exceptional as it has only gave back what was lost the previous stinking year
Since that rns the the funding deal with flfl has been changed and extended 3 times to benefit flfl and it has crucified the share price
Also they have let the price slip so far they can no longer issue ht media shares as dilution would be to heavy (flfl will not allow it imo) we also don't have enough money to pay them the 1.8 per tranche of the remaining 3 tranches so funding is now 18 million pound short from ht media
Also koovs have not used flfl for manufacturing/distribution/logistics or future pay as they said they would
The only thing to mention on sustainable growth is that the cfo has said he believes the 104pc growth is sustainable (the cfo is massively out of his depth)
Koovs and all it's advisors are totally ignoring share holders also
The management here never accept responsibility for their failures amd always blame oitside forces,they even blame the market for the share price collapse and not themselves which is insane!!
Like i said i don't believe flfl will let it fail as if it does fail the whole company will end up in Waheeds hands due to his 8 million loan note which sits him at the front of the queue in liquidation...
Im here for the buy out how ever long it takes
Jambon 19th september 2019:
"Alli should never have started comparing koovs to asos, he looks a fool!!"
Jambon 2nd november 2018:
"There is one thing that Waheed Ali regularly says about asos though - IT WAS AN OVER NIGHT SUCCESS - i have a feeling koovs will be the same story, one exeptional report and proof that there is sustainable growth and the last 4 years will dissapear!!"
Koovs CFo getting 175K is really questionable. This has to be raised to Biyani now. they can make a 100K savings per annum.
I have heard about Loyal customers or Loyal employees. There is nothing called Loyal companies or Loyal shareholders. None of the companies in this world really looks for loyal shareholders.
I belive people in this chat room remembers what happened to Debenhams and the latest one is Avanti communications.
Just because I invested in a company, doesn't mean that the CEO's are responsible to make profit for some one who easily bought the shares by anywhere through internet.
I am not sure if KOovs signed up any agreement with FLFL that they wont buy shares from open market. I guess that the CFO might have invested in cryptocurrency or properties market rather on Koovs as he is not confident on Koovs. We can't force him to buy Koovs shares. At the end of the month he just need his salary to pay his bills.
ASOS period is all gone. you can't find another ASOS or JD sports or whatever. The market conditions, competition and demands in those ages were different compared to the current market.
Also remember that India got all the internaional brands. So Koovs is not going to make huge impact in reality against what their management has expected.
I am sure we need to wait patiently. Don't get fooled by the RNS. Something is happening at the backend which none of us know.
It is in the hands of Kishore Biyani now. He doesn't have time to listen to Koovs shareholders concerns. He need lots of money for his own company expansions and he is possibly creating some buffer cash to survive the recession in india that just started. I think that is the reason for the 250K token payment. I am really interested to see how Koovs will deal further funding requirements once FLFL crosses 30% shareholding. I guess Kishore Biyani will be forced to buy Koovs in the situation.
But this is not going to happen in the next 12 months.
We just need to stay calm.
See below the statements from the ipo document where Waheed stated that the 16.5 million pound would see the company to profit and beyond... He ahs since burnt over 100 million pound and not once has he apologised or admitted he has messed up....
Approximately £16.5 million to subscribe for 165,986,056 ordinary shares in Koovs India on the terms of the Subscription
to fund the general working capital requirements of the Group, particularly in connection with building a broader product range
to expand the marketing activities of the Group
to fund the Company's anticipated operating losses through to breakeven and beyond
Keep chipping away and make as much noise as you can.
I voted against the CFO and the CEO with over 4 million votes.... There were only 6 million total votes against them i believe
For me having a close friend Emily thornberry and campaigning more for gay rights speaks volumes as to where Koovs lies in the pecking order.
What ever issues any company has, the buck has to stop at the top.
The top is supposed to be the driving force of any company. They have to make sure the wheels turn. Without the leadership and the driving force of the leader, the generals will dither & dather.
It is inexcusable for the ceo and chairman of any company, not to attend any agm,s and certainly not an EGM.
Shareholders have a right to demand answers as to why, these people did not attend any meeting,
Shareholders must now start voting at the agms not to reinstate some of the people in the positions that quite clearly they shouldn’t be in.
Might not remove them but at least you are making your concerns.
I would also vote against the nomads as they have a duty to and must take note of shareholders concerns.
It is a disgrace of the positions these people are in.
Not sure what power shareholders gave other than voicing strong opinions at AGMs
The below statement is what Waheed said when the share price was 18.9p..... He believed it was the low point for the share LOOOL!!!
In return, Koovs receives £24m worth of ads and promotions. The proviso is that Koovs must raise at least £6m from other investors over the next few weeks. The persuasive Lord Alli will try for more but is unlikely to go further than £12m for the moment. He is tiptoeing around the issue of diluting shareholdings — including his own 29 per cent stake in Koovs — at what he believes will be the low point in Koovs’ shares.
Exactly kong, he doesn't attend AGM's and he didn't attend the EGM to vote on the huge flf funding deal
He doesn't care about anything apart from the 18 million quid he has invested in KOOVS, shareholders are just an inconvenience to the board of KOOVS!
The board are not even on performance related pay, they are just overpaid from the get go!!
How does the KOOVS cfo deserve the same pay as the BOOHOO cfo? (boohoo revenue 1.1 billion vs koovs 13 million)
I’ve just Wikipedia lord Ali and for me it has spoke volumes.
He should not be in this role, as his other activities which I’m sure for him are far more important than Koovs.
15p investors need 150pc rise just to break even lol!!! Thats what happens when when the city is full of crooks
Can you believe they went around the city touting shares for sale at 15p valuing the company at 60 million mcap, then they took over 10 million quid off investors and then sat and watched the share price fall to 6p which values the company at 24 million instead of 60 million....
Then they did a meeting for analyst and there was zero interest after that meeting, is it any wonder after allowing the company shareprice to collapse?!
If waheed had any integrity he would have been buying at 10p to bolster the shareprice after selling to investors at 15p
I have been a loyal shareholder & for three years have been writing to Lord Waheed Alli expressing my concerns & misgivings in how the company was run. He has totally ignored me in all that time. That's what he thinks of retail investors.
His behaviour towards shareholders like myself is a total disgrace. I took time off work to attend both the EGM & AGM this summer. Guess what-he wasn't there!!!!
As for the latest funding round. He secured a weeks worth of cash £250,000 that was another blow for shareholders & the City obviously wasn't impressed.
Why are Future Group holding back the money? They already walked away from the original deal, imposing this strange 'blended' deal.
Alli should never have started comparing koovs to asos, he looks a fool!!
Asos has never diluted shareholders since day one....
Koovs has gone from 24 million shares to just over 400 million and it'll be over 500 million next year....
The cfo mentioned koovs could do a boohoo at the agm.... The only similarity with koovs and boohoo is our cfo gets paid the same as the boohoo cfo.... Crazy!!
Just something to think about ASOS sp went down to 5p and look at it now.