Member Info for CJohnSpain

Thank you, Rusty. Good work.

Active PIs in small companies are always few in number. It's up to us to keep each ohter informed and on the ball.

All the best. I appreciate it.

CJohn

Hello Rusty and others,

I heard swifly back from Mr Winters. This is the gist of what he said.

Qeton, as you are aware, began trading not so long ago - as part of a joint venture importing tablets, mobile phones and accessories into Angola.

Prior to that, when it was still a shell, it nonetheless, under company law, had to file regular reports. These were done by a small Irish company.

Now that Qeton is making an active contribution to CRV, it makes sense for its auditor to be the same as CRV's aduitor.

All best

CJohn

Hi Rusty,

Yes, I sent an e-mail this morning.

I'll let you know when I hear back.

All the best

CJohn

.

Thanks Rusty!

Hello Rusty, that's a good idea!

All the best

CJohn

Hullo Rusty,

I am in bed in northern Spain with a ghastly dose of flu.

Would you please ask the board why the auditor of Qeton has stood down?

Thank you and happy new year

CJohn

Or put it another way: CRV disposes of IIU, but will likely end up owning more than 60% of IIU.

So LMFA, 31.5% owned by CRV, buys out IIU, a wholly owned subsidiary of CRV at considerable (and rapid) premium to the price CRV paid for IIU.

And CRV takes 3/4 of the payment as a convertible note, which, if CRV chooses to convert it, will make CRV the majority shareholder in LMFA....

Thanks Karina, for posting the document.

Yes, a big surprise that there was a delay….

Have I understood correctly?

No mention of buy backs or de-listing?

Hi Tully, Rusty Karina and others,

Mark Pajak, of course, does hold a significant % of the company through his investment vehicle. The other directors hold paltry amounts.

The share buy back will offer liquidity and an escape: that's the idea, anyway.

The de-listing is subject to a vote. As Desmond is not going to vote, it's up to minority shareholders like ourselves, to make our opinions known and , if so desired, win the vote.

I'm not agianst a de-listing, IF the share buy back happens at a decent price and DOES provide liquidity and an exit.

Really though, I feel all minority shareholders should push for a tender offer to buy us out: the price in my view, should be at book value. This would be fair to current shareholders; and given that managment has hinted - and are right in my view- that book value understates the real asset value hee, it allows more upside to the maangement and to those shareholders who want to carry on holding.

Please, tell me, if this idea would have some support amongst you. I'm off to Madrid for a couple of days and will not be posting till back.

all the best

CJohn

The most interesting detail in the article was that LMFA have bought a $1.5m promissory note from IIU inc. This pays 3% annually. A really rather miserly inteerest rate.

The funds will allow IIU to write more business.

Interesting find, Karina!

Not much liquid, but already the world community, in its hopeful innocence, is asking, Is there life on planet DLC?

DLC climbed from 9 cents to 10 cents yesterday.

But more interestingly, this was on volume of 122,000 shares, instead of the usual piddling 400 shares.

Yes, scientists have discoverd liquid on planet DLC!

It's a good deal, but a small one.

It's not going to transform CRV's fortunes. A step in the right direction, Unlike with the other American acquisition, we have transparency, as it's NASDAQ quoted.

Good morning, Tully.

I've checked the stock prices on LMFA's own filings and they have an all time high, recorded in 2016, of $9.89.

I think that must be the right figure???! ; the other figure I saw I think on Stockwits. I assumed I'd read it wrong, as I have rather feeble eyesight.

Whichever is right, it seems to me that this could be a good buy; the first half of 2018 looks pretty encouraging to me.


all the best

My overall opinión is that this might be a good deal.

There were a series of one-offs in 2017, which impacted profit and made the picture look worse than it really was, and.of course, slaughtered the share Price, creating an opportunity to pick up the shares cheaply.


The business is a glorifed debt-collector, - a highly competitive and risk-prone field - though they offer some other services: ie rental units.

Forgive me an error in my second but last posting below. The high at end 2016 was $9.89. (not $89 - my eyesight!!)

I've looked a littel deeper into LMFA.

Trading has improved for the last six month period - first ahlf 2018, which has been profitable,, with a notable increase in shareholders' equity; a reduction in running costs, a favourable move in a past litigation matter leading to a reduciton in a provision.

They also own some property which they rent out.