Member Info for Forensic505

The realised rev is the cases they were working on 1-2 years ago. The costs are this year. Complete mis-match.

Plus those completed cases in Realised rev were the small stuff that came out after end of COVID. So 60% up with that is terrific! And the £15m of it tells you the cash coming down the line is also gonna huge.

Add to that a record pipeline and it’s all set, and I think Labour gonna cause a lot insolvencies…

The P&L accounting doesn’t fit with Lit Funders.

Focus has to be on the cash and that is through the roof !

Cash is king

Mike12345 - at this level its not worth your time mate. A deal will be done for the rump of the legal business into a Newco. There wont be nearly enough paid by the Newco to repay HSBC (secured and primary creditor) all its money. They will face a sizeable write off. Therefore the other (unsecured creditors) will get zero. Mr RosenBlatt will get free shares in the newco because without him there is nothing to the Rosenblatt law firm (twas ever thus). The other shareholders will get zero. This is the only outcome. Nothing else can possibly happen. And that outcome will be playing out right now. Without telling you. We've seen this playbook so, so many times before.

This company will soon have a NEGATIVE share price.

That’s where the company pays us to own their shares.

:-)

I see LCM opt out mass claim against Google has been kicked out by the High Court. The reason: No chance of LCM’s client winning.

It looks like they will try an appeal, but that surely means more cost on something that looks like a sure fire lose to me.

Can’t win ‘em all, I suppose.

Postscript:

Apologies, I just wanted to check my numbers on this before making this further point which does (I think) neatly give the "Forensic 505" supporting data to my overall stance I have tried to set out earlier below:

1. Out of the 1,329 investments Mano has made in its lifetime (ie since 2009) as a business: 70% (931 cases) have been made in the 4 years (2021-2024)

2. Out of the 933 cases that Mano has completed in its lifetime (since 2009) 72% (676) have been completed in the last 4 years (again 2021-2024) with an aggregate settlement of...£54m

Remember: it takes Mano 13 months to legally complete their cases (they have told us the bigger cases take longer - that is why I have gone back 4 years). It then (on average) takes a further 12 months to collect in all the cash from the defendants.

It is that tsunami of £54m cash that I am expecting to see starting to hit the Mano shoreline: NOW.

So, interims out on 19/11. The Trading Update last month looked tantalisingly positive. I sense the Mano hour cometh.

Like all of these litigation funders: the P&L can be put straight in the trash can. It is: 1. CASH 2. CASH 3. CASH 4. COMPLETED CASES (thats future cash). 5. DEPLOYMENTS (thats future, future cash). In that order. The P&L is bullcr*p because the accounting for all Litigation Funders is just a horrible mess. The accounting principles for "normal" companies just do not fit to any of the Litigation Funders. CASH CASH CASH.

After their UK insolvency market being closed for 2 years from Covid, everything is now in Mano's favour. "But they have been promising this for years!!". Wrong. Investors need to be savvy and ideally have some decent knowledge of running an actual business. It takes TIME for businesses and markets to change once conditions change. It is NOT, and never is, a simple flick of a switch (as so many in the wider stock market seem to think). Eg the internet was the early 1990s miracle but it wasnt until the noughties that we really saw the financial impact of the internet revolution. Same deal with AI/AGI: lots of hype. But....it.....will.....take.....time......it always does. Stick with your long term thesis.

Mano has now had some sensible time for its "new NEW normal" to settle in (there is a lot of latency in their model already without the Covid horror-show (the wheels of justice for all funders turn slowly).

The insolvency laws changed back to normal in April 2022. We should START to see that light now hitting the Mano bank account. All litigation funders have superb investment returns. They have all proven that now. Even LCM, I was a little dubious there for a while, but they too have certainly got there now. However, THE key difference is this: with these forthcoming results we SHOULD START to see how very quickly Mano generates cash from those completed case case returns. They say they have completed near on 1,000 cases. Now: to quote some American gezzer: "Show us the money".

I think they will. Why ? There model is so granular. The super fast 12 months to legally complete their cases is very well established over years and hundreds and hundreds of cases. It is a machine. Its a process. Frankly, I think it will be very hard for them NOT to hit some/all of the key 5 metrics above. And that, should just be the start of the Mano recovery. Why? Because the UK macro conditions aint gonna improve any time soon. The worse for the economy the better for Mano. Obviously.

DYOR as ever but this could be an interesting moment from an all time low share price. GLA.

“ManoleteCustomer” must work for Mano’s PR company lmfao !

They explained the reason some months ago: they currently have lots of smaller cases as the first wave of insolvencies coming out of Covid (and the Govmnt withdrawing all its huge financial support) were the small and weak "zombie" companies. But it has taken a lot longer for the bigger companies (therefore bigger claims) to come through - the evidence for this is that Administrations (the big company insolvency route) only just reached pre-covid levels very recently.

Therefore: margins on big cases are very much higher than those on small cases. Just like investment banking or a law firm or an accountancy firm: much bigger fees for roughly the same work on a £100m takeover than a £5m takeover. As the UK insolvency market returns to its normal mix of small and large cases, the margins will repair.

We knew about the return to profit for FY24 from their Trading Update a few months ago. The new info is the Current Trading which does look very strong (and so it should be ! These economic conditions are absolute perfection for MANO). Still way below its IPO price of 175p. Even with all of AIM's problems, this one does look interesting. GLA and DYOR.

Or NCYT even 🤣

Great news for NYCT

Thats 120p breached...but this has soooo far to go !!

Chippy: yes they are saying displayed prices are delayed by 15 minutes (you can see why - like the first day sales at Harrords!!) But when you place a buy order, you will see the LIVE price you are being offered. Hope that helps.

Lets go! Next week should be fun - hold on tight!

Just got back from hols to hear that sense has prevailed! Looks like the exec team are re-instating the West London City Pub manager….just in time for the new footy season! All’s well that ends well. So pleased.

Sorry last comment was meant to be for Knights board. Apols.

Fully agree with these recent comments. CEO/Founder pocketed over £50m in share sale at the very peak share price. Total joke. "Ever felt like you've been conned?"

This was published yesterday I think. Interviewed by Justin Waite:

https://www.youtube.com/watch?v=Pn6B8R7t-gY

Bit of a re-hash from the recent trading update but does mention some interesting little updates including £4.6m cash inflow from completed cases received in the month of May 2024 (this seems to be mainly from the £6.6m of cases they completed in April 2024. They have always said that the "average" time to collect all cash once a case is completed is 12 months. This is just one month. Very good). Also mentions that new case enquiries continue to run at last year's elevated level.

Really impressive and with economic conditions fully in their favour and likely to persist this should have a strong run.