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Dec 2018 Cash at Bank £13.9m
Dec 2019 Cash at Bank £14.2m
23/4 2020 Cash at Bank £38.7m

So I think it’s safe to say they’ve taken £15m from the £200m Recent Credit Facility with Ares ? As they allude to fact that £185m avail for Loan Book Growth. That £15m together with the Top up from withheld Dividend makes it £38.7m.

Given that they seem to need £15m to provide adequate Yearly Cash Liquidity to pay Fixed Costs etc then the current £38.7m Cash at Bank tells you they’ve allowed for this Corona Crisis to Cost them £24m ish ? Lost Revenue / Reduced Loan Book.

However ; knowing what I know about their methods / The Model they use is very unlikely to ever produce a loss Financially. They have Robust systems.

In fact 2020 I would not be surprised if they actually deliver a small Profit. I am basing any Investment decision I make on the Companies ability to Service it’s Debt v Annual Profits of £20m per Year / Year in Year out. Expect to see a Special Dividend if they secure their Objectives Post Crises in H2.

We shall see.

Just shows you they are full of sxxx.

Tony lol. You may be right. I have my own views re how they use the PI. Anyway. I wonder how much the Serenity Reservoir is worth Unproven ? Surely Value is to be had in Proving it up as this will take time and recovery of POO. However they need the cash and they have burned a heck of a lot. We shouldn’t be in this place.

They’ve left it on a Cliffhanger as per....

There’s no subliminal message in the “Pleased to announce”. They just don’t care..

Where’s the Pro Active Investor Interview follow up lol ?

Also on 19 March this was £4.79. Buyers were laughing on that day !! Yet I believe in the Market ...
Can anyone explain why MCap so low at £98m with £240m in Bank and no Debt. You’re kidding me right ?
40% is Gas and he’s Hedged that well. Also Austin a 30% Shareholder.
Is this too good to be true ??? Astonished.

Harel. Whatever the amount has been spent (License, Surveys, Drilling, Debt) you cannot deny that it is becoming increasingly unlikely that all that Investment may not come back in the form of Profits ? What i3 need to do imo is Prove up the Reserves so they are good to go whenever the POO Returns.
They have done well making deals imo but the fact Remains the Company should have been producing Oil 2018. Here we are 2020 and yet we are no nearer being able to produce Oil anytime in next 12 Month. This is why the SP is so low imo.
Thus what they need to do is bring this Date forward and Prove up the Oil in the meantime. Their image to me is that they are Salesmen. Selling the Upside, when Reality is far different.

25/7/17 Total number of Ord Shares 25.690.892. MCap £14.1m. Price of 55p per Share.
17/4/20 Total number of Ord Shares 108.000.000. MCap £6.5m. Price of 6p per Share.

“i3 can/will be a $500m Company within a Couple of Years” ? lol.

Customer.

Otemple. NSF do not fall into Pay Day Loans Sector / so that’s that one Covered off. They are High Cost Credit but Terms are reasonable and they acted responsibly by suspending all Issue from the Start of Social Distancing. Ie : No potential of Mis Selling whilst CM are at their most Vulnerable.
In due Course they may re introduce Sales for “Emergency” or “Specific” CM needs only.
This is being responsible.
Anyone Exp Difficulty has been Offered the Payment Freeze Option which basically does not Report the CM Accrued Arrears whilst Pay Freeze in place. The CM can still pay during this period of Payment Freeze time as it relates specifically to the Credit Bureau Data.

There you go Zahirm. Down 10%. Even more Multibagging Opportunity. I must admit though. Even though No Funding and burned cash by the millions without explanation / They have done some decent deals and retained the 100% License.
Even the Loan Note Holders are out of Pocket. Go Figure.

Yes Zahirm. Multibag on the way down lol. They were looking to produce Oil in 2018. Here we are 2years on. No good in the ground is it ?

Hi OlderandWiser. I certainly don’t think 12p is a Bargain. Esp under these circumstances. The Corona Lockdown is becoming very depressing. Many NHS Operations cancelled and the Disruption caused will Lag on into the future.
I say another 3wks (6) because I believe that’s when the Negative Effect of the Lockdown on NSF and the Economy will begin to increase exponentially. It may well go on longer ?
We shall see. We have to remain Positive.

Well Freshair, you didn’t get your 15m but we did get 10m Cut from May so there is a little hope there.
I saw some speculative Report that Russia need $42 a Barrel to B/E and SA need $80 (Due to infrastructure re Investment). Both Countries have $500B in Reserves to cover these Events / so that will no doubt be reducing but on same token / be re Filled on any Recovery / which surely there has to be ?
But of late I Never say Never !!

All this talk about we produce Oil at B/E $20 or $30 is a right load of Tosh and cannot take into Account the Lifespan Liabilities of any producing Field. IMO.

Olderandwiser. Do you know how many New Leads EDL get on average per Annum ? I do.
The Reason why Non Standard Credit is robust is its ability to adapt to Customer Needs. It is no problem to extend the Term of the Loan.
However I do agree with you in part that the Lockdown would become a concern to me re the Industry / if was to go beyond 6wks thus Accounting for more than 10% of the Year / meaning any Recovery gap could grow to far for the Year.
But so is the same for any Industry.
I think it’s widely recognised that NSF will Start producing Bottom Line Profits of £20-£25m but that should be whittled down to Zero 2019 with the PFG bid and Writedown.
The Question is if they can Service the Debt and cont to come in with £20-£30m per Annum of Profit / then will the £40m MCap fit ?
Investors were happy to take Woodfords Share at 40p last year, and they understand the Industry and know the model promotes potential Dividend Growth over the long term.

MCTRADE. You’re welcome.
RNS TUE 20 AUG Half Year Report 2019 to JUNE 30.
PFG Takeover Charge Exceptional Item £12.7m.
Also a Goodwill Writedown Charge (I only partially understand this) about £12.5m.

So £25m out of the business for 2019. Half of that due to the Writedown was unavoidable. The PFG bid was a bizarre one but Woodford has gone now and I think he was the main driver / given his loss in faith re the PFG meltdown.

Re the future. Set your own Loan Company up from scratch. IT infrastructure. Staff. Funding. Accreditation. Experience. Investment Institutions on the Books. 3 Dynamic Business models to Mitigate Risk with Option of a 4th !! See how far £40m gets you ?
It’s not a Given, but a Takeover Target from Chinese Home Credit now that Brighthouse have Vacated ?

TTFN.

Forgive me Pinki, but you don’t appear to me to be an Investor or would be Investor in NSF ? So what are you doing on here ?
If you want to bring Doom on the Company then may I ask you, when you believe Full Employment will be forced on HC, Name a Date.
Also let’s have your prediction on the SP in 12 Month ?
There you go. I’ve only asked you to commit on 2 things.... We wait..

MCTRADE. The PFG Takeover attempt cost NSF nearer £20m. It’s in a previous Statement by NSF.