Member Info for bigpunt

They are hardly collecting any rent - 14% at latest monthly update, they are selling for a for 1/3 of purchase price - an even smaller percentage of valuation.

The balance sheet is probably worth close to the £Nil and you would have thought the bankers a running this so they get out without taking a hit

2023: £966k (2022: 1,031k)

Does anyone have an analysis of this?

Realist, regarding the dividend, VANQ want to be a proper bank but the balance sheet is tiny. I can't see them distributing as generously now they have a 'proper banking' CEO and CFO

I think bad news will get dumped at the next update which point I will pile in. That said, I'm not selling my holding. A cowardly hedge

Can anyone with some experience with this sector please explain what are the plausible courses of action for Naked reducing stock through negotiations. Presumably it is:

Cost per bottle goes up

Contract cancelled and termination fee paid

Loss of exclusivity

I just can't see how reducing purchase orders to reduce stock is positive. I would understand if it was just a case of cancelling contracts with unpopular winemakers

Topping up strategy seems to be 105p-110p. Don't let a decent price knock your conviction!

Tim hates the city, he has always done his roadshows in jeans and t-shirt which you could say is a shown of disdain - he really doesn't care about returning cash to shareholders, he just wants to grow the empire. A bit like Mike Ashley (like or loathe)

As a private investor, I am happy, and will wait patiently for the capital returns

I would be very surprised if this had any good news in the numbers. Former management have been cleared out so I imagine new management will take the opportunity to load the balance sheet with provisions and everything will be blamed on their predecessors. I would expect gloomy results but a renewed and positive outlook. I imagine SP will probably take a knock on results

19 million shares are authorised to be bought back in total. Hugely positive and tells me they are making a lot more money than they have ideas what to do with

Leapfroggy, with respect, who cares about the tittle tattle of £100k or £250k. They said the year was dominated by growing sales. They must surely recognise it is abject failure on that front. When will they realise they need a brand rather than 'sales channels'

Everything I read in the results and I have read on this message board is making me increasingly annoyed. Particularly that "The year for SkinBioTherapeutics has been dominated by growing the sales of AxisBiotix-Ps" FROM F-ALL TO F-ALL! Quite frankly, the only growth appears to be in overhead

Maybe they just want to use Amazon's warehousing, picking, carriage, accounting, etc. platforms because a this SME with a huge overhead can't do it themselves? Would have been helpful if they said how much the margin would erode

Elrico, I'm not against product innovations at all, I would be foolish to be here if I was, and it's significantly better than management making a pig's ear of trying to in-house other parts of the value chain.

IMO acquisition is only the right route if one is absolutely sure the acquiring firm can significantly increase the value of the product in the eyes of the customer (in a way that defeats alternative structures e.g. JV)

I must try not to doubt this has all been duly considered, but I am left to guess because the communication has been extremely clumsy

There is absolutely no rational argument to put forward in favour of SBTX producing its own product. Hopefully the company is focusing on optimising financial performance of their product rather than venturing in to parts of the value chain they have no skill or experience in

I just wanted to add another point to my grumble. SBTX are exploring paying for acquisitions with paper. I absolutely do not rate the FD; but if this is a balanced, well-considered and viable option, then you could argue that is another extremely reassuring point

The mind boggles as to why we have had a complete change in strategy. Why would being a 'specialist dermatology group' be justifiable with almost no brand and no corporate function with the scale to operate a fragmented group of SMEs? They are betting the farm on us having a market-leading product or two. That is either extremely reassuring or extremely reckless

Also I would like to know how the exec intend to create a £6m ebitda business through M&A. Given that we currently generate negative c.£2.5m ebitda currently, how do they think we can buy c.£8.5m annual ebitda for £20m? This is before factoring in increased central costs, and we will have to swallow generous management incentives

I find it extremely foolish to drop this in to a placing RNS. This needed a full strategy update presentation with Q&A. I can see the SP dropping below 19p unless some credible and detailed communication comes out

Inflation results had a big impact today. Looks like Tim is using repairs and maintenance of the estate as his key lever on the balance sheet. I'm assuming dilapidations gets included here. Strip outs for landlord hand-backs must be costing a few quid

It's a fait accompli. The point is that institutional investors will be made aware of how the exec have delivered. Ultimately the more that come aboard, the higher the share price

Toyin, exactly the same rationale will be used for this raise, as the last, albeit the time frames will be moved. I appreciate the last raise was somewhat tentative regarding an acquisition

I appreciate for fledgling AIM lists there is a lower standard of accountability but it will still be a mark against

You may be right, I hope you are, but tapping shareholders for cash continuously reflects poorly. A lot of cash goes straight to the broker and it shows an inability to plan / execute plans

Bazza, we have heard this all before. I don't know why the board is getting so giddy. I actually think it will reflect poorly on the management team unless they deliver the 'sh*t sandwich' i.e. surround the same shtick with some great news of strategic progress