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Hi Herdie, I'll be posting my paper, parts of it anyway, on why I think SFOR is a stonking short on that thread. I'll try to remember to include a URL for the site.
I'm off to a Festival now, so probably on Monday.
Devon, Where do you write a blog ? It Would make interesting reading/ Learning im sure.
Actually, when you think about it..I should include DARK 4 Nil ;)
DARK, I said at 420 it was a strong sell. Months before it dropped off that cliff. I think the present rally is week. Best avoided.
If you want to look back, you'll see that somewhere in the SGI threads.
No, it's still got much further to go Pearls. I have it in a model that shows it reaching 80p.
Devon, you were not right on HBR - I made an absolute killing on that one.
Indeed as it moves to becoming debt free by year end, the only thing likely there is a takeover unless the price rises a lot. That one is currently a bargain price, but you did not get HBR right.
What's your view on DARK?
Aren't you a bit late on the short position for SFOR, Devon? The best time was after the Board advised their internal controls were not adequate a couple of months ago, as confirmed by yesterday's update RNS. I think many are averaging down on that share now at the new much lower price level. Their next update is supposed to be in September
"Devon, my hands are held up - you were right again."
I count 3 so far.....if you include HBR. LOL 3 nil
Don't forget to read my article on SFOR, I think there's a massive short opportunity there.
As ever, it's been fun exchanging ideas.
Good luck with the future Carpe, it's been a pleasuring meeting you and discussing SGI over the last few years. As I've often said, its been laughing hanging around here.
I'm working up a critique of SFOR at the moment, I still think there's an enormous short opportunity over there, even at the present price, so that might become my new home. I'll be updating my blog on the company, SFOR that is, for those that follow or subscribe.
As at 1.30pm only 2.3% of the shares have been sold back to Phoenix. I wonder if they will get to the 75% necessary to do the deal? It's such a poor price that I cannot blame many for holding out at the moment...
I would not hold out any hope here that a white knight will come to the rescue. The deal is already done. Without a higher level of stock market scrutiny, the company can go back to its old ways of promoting Royalty rubbish and investment items maybe turn profitable that way. Anyway, it really is a reflection of the stamp market and the fact now numbers of collectors (and dealers) are falling away rapidly now. That is not to say there are interesting areas such as Asia which are still big, but lack of material to supply these markets is hampering. I am sure SG will continue in some form, but maybe Baldwin's will now be sold off as we have postulated in the past on here. I am still a buyer in SG Auctions, so please don't bid on those lots!
I wish everyone good health especially Pearls and Devon. Until we meet again...as they say.
Carpe
Only 2% of the shares sold to Phoenix so far.
I wonder if many shareholders are holding out for a better offer?
I see that today's results are accompanied by a financial update showing the company has current debts of £23m. That is a lot of money and shows how much the operation has been subsidised - it is also worse than I had thought things to be. What we are really seeing then is Phoenix taking the knock at 1.5p and they will now have to delist their own 58%
holding which as we all know, cost them £19.45m a few years ago.
There's no winners here - but at least shareholders have been able to get out at 1.5p.
For me, I have to admit, much as I was a fan of the company, my large shareholding had become too large to sell at ordinary prices, so it had become a prison for me, especially as I averaged further down. At least I have been able to sell today at a narrow loss - great news in the circumstances.
Devon, thank you for the lessons - one learns, one moves on.
At least at Frasers, that is turning out to be a stunning winner....
Devon, my hands are held up - you were right again.
The timing of this is very suspect, my interpretation of things being that the company is now turning round sharply and profitable days are on the horizon boosted by non stop Showpiece offerings. In addition, much of the legacy stuff is now well and over, and Phoenix clearly do not want to share the bonanza ahead.
I think that Phoenix should have offered a higher take out price to ordinary shareholders. Luckily I had been averaging down significantly so I am taking a loss, but nothing special and can live on to fight another day.
In fact, Devon, I have you to thank for that! You had mentioned a number of times about the risk of the company being taken private, and let's face it, you were right about DEB, so ~I mulled this over and frankly - I agreed with you. I did think Phoenix would be obliged to offer 2.5p as that was what they bought in at, but I averaged down over recent months to take advantage of a low takeout offer. It is a shame it is so low but that is life.
Pearls meet Karma, Karma meet pearls, Smart move on your part not taking that bet I offered !
What a great example of how incompetents can destroy a great company.
Spread 400% I'm going to accept 0.6p as a win, it's much closer to 0.5p than 20p.
Where is Pearls....oh yes, ramping another loss maker. Best short indicator on the site.
Proposed Cancellation of Admission to Trading on AIM..........
All systems are going to remove this from the market, as I've said plenty of times over the last few years, almost 3, I've always wondered why they bothered with a listing and now it's come to pass.
Phoenix will de-list and then quietly increase the "private" value in their other vehicles.
On the positive side they are offering shareholders 1.5p. So an up day for SGI!
Interesting comment in the RSS:
· there is also a limited free float and liquidity in the Ordinary Shares with the consequence that the AIM listing of the Ordinary Shares does not offer investors the opportunity to trade in meaningful volumes or with frequency within an active market.
Something that I've said over, and over again. There's been very little free float....but not according to out bull.
"The Directors are aware that certain Shareholders may be unable or unwilling to hold Ordinary Shares in the event that the Cancellation is approved and becomes effective. Such Shareholders should consider selling their Ordinary Shares in the market prior to the Cancellation becoming effective (either pursuant to the Standing Purchase Order referred to below or otherwise)."
But then again in the panic....we might hit that intrinsic goodwill value and reach 0.5p today....there goes "share of the year"....another burning wreck Pearls.
Rather heading to m-cap of £0, with inevitable delisting soon it's sadly bye-bye to another sinking ship.
Maybe, but I've been much more accurate than your 20p by last December prediction ;)
> heading to a market cap of £2-3m.
Nice to see you are reading from a script again.
Perhaps it's time to read something new? The Showpiece site looks very interesting given all the commissions SG must be making any time one of these things gets bought or sold.
My scripts showing 10% downside for SGI over the next few days. Meta entering the "collectable" market place might offer a death blow for SGI's failed attempt to get into the NFT market and the general dash to quality. It looks bleak for SGI. £7m cap, still potential 50% downside from here.
A profit if you were one of those who bought them initially at £90 each.....
Also, double bubble for SG since they will be earning a further commission on each one bought and sold on Showpiece
The British Guiana trading on marketplace for £95 today. A loss if you were unlucky to buy one for £100. There doesn't seem to be a clamouring to buy them.
How to you see Showpiece helping with filling the coffers?
They make maybe £50k from the Warhol item of they sell all fractions (of which Stanley Gibbons on paper gets a percentage). I don't see Showpiece paying out as surely it just goes back into the pot for marketing costs etc? Where are you seeing Showpiece making payments to Stanley Gibbons? It would of course be different if Showpiece was buying items directly from Stanley Gibbons but they're not.
The Rhodesia sale is lovely but with the amount they'll receive from commissions how long will it take for Gibbons to burn through the cash? 10 days?
I'm afraid pearls you're clutching at straws here. If Gibbons were debt free and had drastically lower overheads then there's a very viable business there. As it stands this is some form of vehicle for Phoenix and not one for shareholders.