Member Info for Bighand

Is EcoRenew not linked to that big insurance fraud thing... it looked like Mazuma/Eco was a front to legitimise some of the monies... a lot of funds came from Virgin islands... a short investigation away from some prison time for the MD perhaps - so a sale to them might not be favorable. All speculation of course.

Bamboo profit after tax last year was £4m and has £20m+ in shareholders funds, so profiting for a while, maybe not quite big enough to consume Maggers but big enough to get funding for it...

No skin off my nose, pal.

Feb 27th - I posted the below, accurate, no?

"In addition to ending the engagement with the consultants - saving circa £1m+. Last week it was announced that there will be 15% of staff cut from head office. Saving over £1m-£1.5m. Could be £3m saved. Decluttr is also to be shut down to focus on UK.

Smart decisions to get the company back on track IMO."

Whilst i appreciate your interest Razza, I'm not telling you because you're not being polite. ner ner ner ner.

In head office

Im surprised that it hasnt been mentioned yet, but there was an announcement yesterday that there are to be a further 25% cuts from head office ...

It could be viewed either way, however, to me - still very positive.

Anyone know what Steve's average is? What's the benefit to him for selling 'cheap'?

Foxway at the table currently. Prized GR (revenue 150m) away from Brightstar capital/Likewize not too long ago. An offer is there just whether it comes together.

Still holding Circa. 700k

33% is very fair as theyre only renting devices they have purchased. So the depreciation is on the buy price of a second hand device.

Id imagine they have much more accurate figures, but i can only see it being lower than 1/3

I don't know, it's showing 98.61m shares in issue ?

98m shares down from 107m - is that correct ?

I agree totally, results were as expected, I bought more on the thought it would hit high teens after they came out. My son has a 400k share buy limit set at 7p and I'm holding tight. I'm saying there is something bigger at play, not that it's going to crumble.

It feels a little like if someone isn't 100% positive you're going to spin that they're Lex Luthor

I don't think a £150k punt on an undervalued but well known company by a multi millionaire means much IMO, its likely 1 of 50 investments, a third will fail, a third will thrive and a third wont do much. I actually think its been a cause for conjecture. My cost is around the same, albeit with less shareholding. All of my predictions have been wrong and my gut/ego is telling me that means something isn't quite right...

Price still horribly undervalued but something bigger is at play here. I have very close to 1m shares and I'm praying the rug doesn't get ripped from under all of our feet but I have a feeling were going to be left feeling very bitter and with empty pockets.

I think it was mentioned the other day, but the directors cannot buy shares while there is an offer period... It would class as insider trading. Reason for the mention is I'm sure it was used as evidence for negative chatter.

Interesting news, refurbished tech market predicted to double in size by 2030.

https://www.whatech.com/og/markets-research/it/785844-refurbished-electronics-market-expected-to-exceed-us-94-10-billion-by-2031

... on the opposite end if the fantasy scale "it'll go back to 200p"

dhton you seem very very knowledgeable... emotional*

Why don't we all make some guesses where it'll be on May 31st...

10m+ Apple devices sold in the UK a year making 10m devices redundant at a £600 avg. new price. Even if we hit it with a huge 50% depreciation it leaves £300 per device value in 2nd hand market... or £3bn in revenue. Same again for Android. So £6bn available.

o2 has around 30% market share and when Redeem had 100% of their recycling work and pushed the narrative like crazy, their revenues were only £32m. Under 1% of the total revenue from the redundant devices.

Note that Redeem figures are from 2014, but my point is - there is quite enough to go around, another note that this is only Apple, the same again for android.

ITAD acquisitions has actually slowed down as far as I can see, Restore have written themselves out of any further purchases and they were adding large competition for them. I actually thought MMAG might have been on their radar previously...

Mazuma has lost Circa £10m in recent years so their recent turn in form is encouraging, also Craig Smith has taken back ownership of some of the group and i'd assume he has more focus on ICT reverse (his baby) so that will if anything slow their appetite for consumer takeback, not that they're a threat.

I couldn't agree more on the undervaluation - Ignoring Canaccord dropping shares, the board don't seem to be forthcoming with information, and that is scary rather than concerning and keeping the price low. Nothing has changed from pre BT "offer" yet the value has halved. It should correct itself if the results posted are even slightly positive.

I'm in the market as an investor/consultant yes and I do own a chunk here.

Are you allowed to disclose how many shares Josey?

Redundancies have been announced/confirmed today, over 15 from head office.

Brand strength will retain revenues, cuts will increase profit. Business wise, makes sense. Morally I don't like people being on the butchers block.

Shares are still a steal here, might take time but it'll be on the up soon, finger in the air, it'll realign quite quickly with pre BT mess post results.

I'm also not sure on what is or isn't disclosed on an RNS however, "im going to do this" and "im doing this" are different.

Neither - I'm close enough to know that 1%+ shareholders are there but unknown and far enough that I wont lose a job. Information I see comes from higher up from the other side of the fence.

The timing is interesting, are we looking at take-over requests being actioned or a spin on the numbers that are due, "we made X but with recent cuts it would be Y"

In addition to ending the engagement with the consultants - saving circa £1m+. Last week it was announced that there will be 15% of staff cut from head office. Saving over £1m-£1.5m. Could be £3m saved. Decluttr is also to be shut down to focus on UK.

Smart decisions to get the company back on track IMO.