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Unless there's positive news or a detailed explanation from the company regarding the accounting debacle I can't see the share recouping the losses of the last few weeks. I believe that the next trading update/figures will set the blue touch paper going.
Don't know where MF gets P/E of 2.7 from. Forward PE is 4.8 according to Morningstar There has been no director buying since April this year and that was only for a small amount so they are showing no belief in the recovery of the share price. On the other hand there has been no notification of any institutions selling down their holdings. But how cackhanded was that totally unexplained upward figure for revenue of 2.3 million which apparently appeared out of thin air. Conspiracy or cock up?
http://www.fool.co.uk/investing/2015/11/25/lloyds-banking-group-plc-and-internetq-plc-buy-sell-or-hold/ This puts it on a forward P/E ratio of just 2.7, which indicates that it offers superb capital gain potential.
You only have to look at the directors holdings to see this is way oversold. The CEO has over 18 million alone. I've caught the falling knife twice in the last week or so buying at 159 and 98p, my average is now well below £2 but still too high. The company is well established and moving forward, the selling has been overdone in my opinion. Having said that I won't be adding any more short term, I need to see evidence of progress and some renewed director buying will restore confidence.
Freefall.
now with the drop only accelerated, I can't see what will stop the selling and any buyers will do well to find the bottom. Not for widows , orphans or left to family in your will.
So they underestimated profits? http://hsstag.investis.com/ir/intq/ir.jsp?page=news-item&item=2268090624638976 Canaccord Genuity seem to be the only broker with an opinion on this stock, seems a bit odd??
Think there are better buys around to be honest, why gamble on such high risk? Better to have a boring divi stock in a boring industry than something digitally based.
Share price has been a house of cards rather Globo like unfortunately. I wonder if some investors have been spooked by what happened with Globo and are selling first and asking questions latter. If this is a real business it's probably a buying opportunity . Personally I've never been a big fan of Internet nor mobile marketing type companies as the have a profitable business franchise one minute and the next its gone. Hopefully for all the investors in this name it's just a moment of panic which ultimately is proven to be a buying opportunity.
Not me! Let the trend be your friend....
Indeed. There was a brief bounce first thing but the downtrend has restarted in some style. Confidence is gone in the share so I still can't see a floor. The ultimate falling knife. Anyone brave enough to catch it?
Looks awful, something not quite right here.
Well those with a cynical mindset, fast including myself, will be thinking how on earth have they made a 2m+ error in their reporting, hardly inspires confidence, it does make you wonder. I'm down a lot here now :(
Well there has been a stream of sellers today with only a single buy of 800 shares after the correction. Not surprised to see this flagging and this may well go a lot lower before it finds any support. The Globo effect is casting a large shadow over this.
Welcome to the delightfully corrupt world of AIMS. Ridiculous.
So the only change in the update was that they have stated a HIGHER revenue for B2C than they did previously and this results in an 8% drop. Wtf! Please can someone explain as I just don't get it.
Jab1tt, the recent RNS that said they had "no knowledge of any reason" for the price tank on the day that Globo went down basically said two things - that they have no connection to Globo and that they stand by their reported accounts.
Hi and thanks for coming back to us, not many out there would bother. Looking at this from an investment case in internetq there are a few red flags, the balance sheet shares similarities with the globo sheet with a large portion of its assets goodwill and intangible assets. Ignoring the Mobile marketing part, the whole akazoo carve up piece I find hard to understand, assuming it's a legitimate product like you say commanding €20-30m a year in revenue on the B2C part of the income statement, internetq now only gets 70% of the recurring revenue it once got and profit so was really looking forward to the end of September update where we could see how R & R and the non recurring €17m adds value and when it will compensate for the now reduced income for internetq? That's what investors surely want to know as they wont see the €17m or the R&R benefit per share but will get the reduced revenue and probably will have to pay the additional operating expenses R & R bring with it, so until we know more its more intangible stuff. On spotify, When I search for spotify I can immediately see how I can download it, I can see how much they are going to charge me and I can see how they will take my money, I can also use it immediately and it works. I cannot easily see any of this with Akazoo, when I search for popular bands on the akazoo site it doesn't find them most of the time, and I can't seem to give you my money. How much do u charge for using Akazoo and how many subscribers have you got per country as I'm guessing all your revenue comes from private consumers? On Competition, in this area it seems to be growing with Apple entering the market etc, they all charge as you do so not sure about what your differentiater is and therefore how you will continue to grow? Really appreciate your time, think these are basic questions that allow investors to understand how we will get a return on the investment in internetq.
Apostolos, Thanks for clarification. Would that InternetQ were so forthcoming. It would be so helpful to the share price were they to issue a statement that there was absolutely no connection between them and Globo.
@aspostolos thanks for your response it is much appreciated and gives clarity and good information regarding the Akazoo service. Thanks again.
@nottsbaggie 1) I am pleased you have located the akazoo app on the store Android Google link. 2) Regarding some lower reviews, they are indeed being addressed, but I would plead for some perspective, as the number of one star reviews represents a meager % of our user downloads as referenced by the google app page. As a whole, the point of our recent capital raise was to contribute to our service refinement and distribution as referenced in the related public announcement on the 9th of July, 2015. @Jab1tt 1) To be clear - I am not the CEO of Internetq, neither a director of Internetq – I am the CEO and director of the Akazoo Group as of July ’15, a private group where Internetq has shareholdings. 2) You can search “akazoo raises” in google to find multiple versions of the Internetq announcement (July 9th, 2015) and my relevant appointment. The announcement covers the carve out of the business and relevant capital raise. There you will also find the information about the shareholding structure as well as information of the transaction and relevant Akazoo evaluation. 3) This is a fresh development and therefore you will not see me referenced in other announcements. Overall 1) Again I do not represent Internetq and cannot further comment on Internetq’s investor relation activity or plans. 2) In terms of perception, I recognize how some companies may be viewed as being associated simply by being in the same sector, even If they may have no association at all. For example we may talk about the “tech/mobile space,” but that is like saying a construction business that builds buildings (Globo – software developer) is the same business as a Concert Hall that issues tickets and organizes an event (Akazoo – music streaming) and the Communications Agency (Internetq- mobile advertising), that undertakes to promote the events. In our space these are different businesses, with completely different business models and completely different success indictors. My contribution to this thread was to clarify any misinformation around the Akazoo service, proposition through verifiable and public information.
Apostolos Hope you will come back re Globos comment as this is clearly investors main concern at present. Also you are not listed as CEO on any company announcement I have seen, nor are you listed as a director holding any shares.
One more thing though. I would be a bit concerned by the number of one star reviews. I trust these are being addressed?
Thanks Apostolos. That worked fine after removing spaces. Good to see! I guess us long term holders would like to understand the fall in share price and are probably looking for problems which just aren't there. It looks to me as though it is mainly down to the Globo situation. You only have to look at what happened to INTQ share price yesterday immediately after Globo announced they were going into administration. Rightly or wrongly, the two companies are in the same sector, are greek, one of those companies has clearly been fraudulent and the market is reacting as markets do! Unfortunately, the last RNS from INTQ regarding the share price movement just didn't say enough to calm any worries. I am a long term holder of INTQ, am currently well down but hopefully this will resolve itself over the coming months with further good news and reassurances from the company and the share price will return to a level where it should be.
Dear Sonandheir, Google play does not show results in countries where the app is not available, however i will provide a direct link. As you know links are removed by the forum. Please try this url by removing the spaces and you shall see it: play. google. com / store / apps / details? id = com . akazoo . music & h l = en I you still have problems pm me and i will provide an alternative way of viewing. thank you, Apostolos