I remember in the AGM held just now, that they reappointed BDO to do the accounts. I wonder if one of Bob's next tactics is to go hell for leather to get BDO to get that report done before the EGM? I know BDO have had "time" issues, but at least they are familiar with the company and the way the new board works. It might have been a tactical error by Boo to approve this motion as more delayed accounts are good for Boo? But then again, I guess they thought their coup would work. All to play for still.
I did a small top up today and a big top up last week. I have total faith in Bob. I love how is not rolling over and taking the fight to boo which is in the best interests of us small holders who want to keep holding for the long term.
Hi MiddleEastMoney - good comments as always. Much more sensible than some of the newly appeared doomsayers. One thing that has not been mentioned - when it opens, Bob and other directors might personally buy a load too on the open market? With so much to play for, you would think it has to surge on opening with a long auction.
Redhammy - by fraudulent, its the massive investigation into loans made by previous directors to make the figures look better at year end. It involved stock that was not sent out/needed. By profitable, the fact that they have increased cash at the bank by Ā£3m in the early part of the year. Its quite simple really. But I get you are sensitive to all this. So, I wont respond further in case I too hurt your feelings.
Bob has turned us from fraudulent and loss making, to honest and profitable in less than a year. Lets not have a go at him too much. He has replied to loads of us recently and has probably just had enough of it all. I would much rather him concentrate on us getting relisted at the right time (hopefully soon), get the capital markets presentation sorted (might be called something else) and to be responding to fund managers to come on board (rather than the small pi's). There is a lot to look forward to and a lot of good work (esp Walmart) done under his tenure. Lets keep positive.
If you want to see a truly scary set of accounts, look at THG's RNS from 18th April. Revenue up 2%, loss up to about Ā£500m loss, and 180m net debt. Obviously, not all accounts are that scary. Meanwhile, the historical situation for revb up to interims is not great but not all negative, but so so much positive stuff since the new year. Its actually making money this year. I am more bullish than I was yesterday, not because of the interims, but because of the cash generation this year which you see in the bank figure, and you have to presume they have already funded stock in the us for walmart.
From a very simplistic view, everything post interims is influenced by Bob. It looks like since then spending has been brought under control when you look at net debt on the various rnsās. I particularly like that cash is now Ā£3 million higher since end feb. In part due to Walmart? And we are not exactly in peak season. Slow and steady with reducing net debt is much more exciting to me than higher revenue and no profit.
Bigbaggerhungry- totally agree with you. Looks a decent 2 year+ hold to me. I think comparisons with thg and boo are hard to make. Thg seems to find new ways to lose loads of money each year. Ingenuity has not been good for them. I wonder where they would be had SoftBank not invested in them with options a few years ago. Boo is so different too. That said, they did move in similar patterns. With revb, if they keep net debt under control, the future is very bright.
21.6p average for me, though I did buy about 130p previously before selling at 115p. I do remember that awful day when it sank to 8p and I would have sold had I not been on a day trip to the seaside! Thank goodness I didnāt and for all my fellow holders I feel that whatever price you bought at, high or low, itās going above that this year! Those hints at good recent trading must propel it to new highs in the near term.