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I posted a few weeks ago after I asked Rashid in DQ investor relations the current situation re; account receivables. The reply was ' out of office, let you know when I return'. Still no reply, even after gentle reminder. It's unlikely DQ would let me know price sensitive info. before they let the market know. They may be preparing RNS now for all I know. The bottom line is this, Can the Co, survive with this level of debt? I do not think their borrowing facilities and cash at hand will cover the associated costs of the sales made to date for which payment has not been made. Worrying times for me since I am now down over 40%.
it is an illiquid stock which moves on small volumes. drops are caused by PI selling spooking further PI selling. great opportunity for the brave……..there is no II selling
yes ..now testing recent floor
now testing recent floor @ 25-7 INR
hi mate ,i bought DQE at over 20p [i still don't know why ] after few weeks i have cut my losses and run.still trying to recoup my loss somewhere else but no luck yet .
I made some money on this at the beginning of the year(ish) - I then stupidly bought back in at 17 - anther 13% drop so far today..... on tiny volumes..... now wondering if I should cut my almost 50% losses or sit it out - averaging down's not an option....
receivables recovery issue overlaid on big debts aint happy combo imv
Still languishing I see. M Cap is now only £5.25m! Profit after tax was £4.27M if memory serves. Clearly the issue here (as I think we all know) is the recoverability of debtors. Just been thinking about this - need to have some more time to do better analysis (and I daresay access to auditor working papers lol) but whilst trade debtors are clearly very high (equivalent to the annual turnover in fact) it is worth remembering that that turnover does not accrue evenly throughout the year. Most accrues in the final quarter so you'd expect to have a significant amount o/s at year end. Revenue for first 6 months was £8.7M, meaning that of the o/s trade debtors, it is likely that £15M of the £25M is 6 months old or less. Look, I'm not saying this is ideal, but they have provided against some which means the hit has been taken on that element at 31 March. I am not sure what the current position is, but this is obviously the area of focus for the company. Will it bankrupt them? I think they have been around long enough to know that debt recoverability is a factor here and they have said they are dealing with it. IMO this is a great entry price if the above is the sum total of the risk, which I believe it is at the current m cap.
perhaps unwise here
I think 'taken the plunge' is the correct phrase Steve. The SP has dropped because of non payment of generated business. It's a huge figure. It may bankrupt them. I have asked company for the up to date figure for receivables, and was told I would get answer last week. No info. yet. I have bought in at 9, 11, 13, and 17p. I hope your 'plunge' finds deep, blue, warm waters..
I have been patiently watching here for a long time - just taken the plunge @ 10.8p Regards Steve
back to square one lol
so less tempted
for DQE India ..v tempting
up again...on huge volume (rel speaking)
Jumped ship?! Lol you must be joking!!!!!!!!
perhaps
for two years...and perhaps since IPO...pretty weird
record volumes….news in the offing?
is flying...so what's up doc?
im still here...for what its worth haha....i bought in at 16p just before the results thinking it was going to rocket...how wrong i was....well, i topped up at 12p on the way down and would have topped up at 9.5p if i'd had any spare cash....i have a feeling this will rise on good news...cannes does seem a long time ago now but they must have some good news to announce at some point...
up 20% today on ten times the average volumes……..something is up me thinks
Where is everybody? Jolly and disco. Methinks you may have done the wise thing and sold off? I emailed Rashid asking for an update on the accounts receivable. Was replied that away from desk, and would revert ASAP. This is the BIG problem with DQ. DQ financials showed monies owing as near as dammit to T/O, with 50% more than 180 days, although CEO stated their commitment to pay was evident since small amounts were being paid. IMHO, this share will be either 15p after next announcemount, or Bankrupt. The glitter and Razamataz from Cannes seems a long time ago now. I always thought the Indians were good at debt collecting, and did not tolerate fools lightly.
to sell now without disclosure?
Never sound good, but I suppose people move on - may be no reflection on the business.