Member Info for Bermondsey

Interims due by end of the month. Interested to see how fish maw sale are going

Aka a little bit of buying and a little bit of selling. Who are you trying to fool?

https://www.londonstockexchange.com/news-article/CIZ/encouraging-progress-on-collaboration-with-sgsc/15128263

https://qsrmedia.co.uk/fast-casual/news/shawarma-bar-concept-shawa-open-in-west-london
I was under the impression the group owns a number of popup/Street food type stalls but I can't find any evidence of them anywhere.

Pretty good written review. Sounds more like a 9/10 than an 8

What happens if the agreement isn't concluded by the long stop date? The July has been missed.

What do you mean by stop gap

They would need to announce by the end of September if they want to take advantage of the covid exemption. Personally i don't see any benefit in delaying, these are pretty simple accounts. Perhaps the auditors offer a small discount if they can take a bit longer.

When will the first IM be achieved guitarman? I think they have so far raised 40m in subscriptions to the equuty fund, bank funding feels very far off. How much in annual fees is 40m worth of inventory monetisation going to generate?

Perhaps I am misunderstanding something. The negma total facility was up to 56m. This is being replaced with a 7m facility. Have working capital needs reduced? The rate is not attractive in the least. What is the proposal to repay 80% x 7m within 12 months if the company is short of working capital? What does it mean that the new arg facility is linked to CLNs should group need the cash. Does that mean a further loan (on top of the 7m) CLN facility has been agreed with ARC or does it mean the 80% of the 7m can be repaid by converting the debt to equity when the cash is inevitably unavailable to repay this new loan.

The audit fee is in note 8 of the accounts. 75k for the18 month period. The fee could be outstanding still and included in the payables balance in note 21 but that isn't a great surprise - it's in the accounts as payable. I don't think there is some great scam going on with the audit fee.

They may have deferred payment Rocka but the cost will still have been accrued in the accounts which are prepared on an accruals basis. Nice try. There won't be a cost adjustment but it will hit the cash flow statement this year. Really a BS to BS entry.

Did we buy into an operational business with this investment? I can't work out from the rns. The figures in the accounts for fish maw are not that impressive considering they represent 6months of sales. Am hoping we have invested at seed stage.

Your huntch might be on the money, last recap was August 2020. Time will tell. I do see todays rns as a positive.

I didn't see anything going in the September 20 accounts to indicate cashflow problems. No going concern note from the auditor

From 97k in September 20 down to 17k in March 21. They also had 17k in March 20 (which went up to 97k 6months later)- is the cash balance a feature of having more revenue earned in the second half of the year than the 1st?

Well the accounts did have a few flags. Net deficit 1m plus a going concern note - more money required to get through 2021. Fundraise on the way? I hope not I'm 50% down.

Well the accounts did have a few flags. Net deficit 1m plus a going concern note - more money required to get through 2021. Fundraise on the way? I hope not I'm 50% down.

https://youtu.be/LmjEmN3jbi0

Not much else to say right now

4k do you know what the acquisition was that created the goodwill?