PXS14 Apr 2017 17:43
Revenue £0.04m
Loss making £(0.49m)
Total assets £360k
NAV £142k (as pointed out by Gary newman/share profits)
Mcap £9.621m (a ludicrous 40 x NAV)
Number of shares in issue : 1,750,818,000
Despite asking numerous times, it appears nobody has been able to explain how it is that a loss making company with negligible revenue and miniscule asset value can possibly have a market capitalisation that is 40 times greater than it's net asset value. It appears the current market valuation is entirely unjustified, grossly over inflated, massively over valued. To hammer the point home, the net asset value of pxs is actually LESS than a tatty, bargain basement, leasehold, one bedroom flat in Catford, London, which is currently on the market at around £200,000. And you wouldn't put such a flat on the market for £10 million when it's only worth £200,000 but that's exactly the situation with pxs: "look at me, I'm making a loss and my net assets are only worth £142k but I'm on the market for £10 million"! And what's truly incredible is that there are shareholders here who actually believe the current valuation is looking CHEAP and are putting yet more money in! It's truly jaw dropping how foolish some people are and how little research they do into company fundamentals! The net asset value of pxs is absolutely miniscule - it's the value of a tatty flat in Catford, it's the value of two second-hand rolex watches, it's the value of a second hand houseboat. Just for the record, the net asset value of pxs is considerably LESS than the world's most expensive BARBIE DOLL, it's considerably LESS than any of the top ten VIOLINS in the world, it's considerably LESS than most supercars. It appears the current market valuation for pxs is entirely unjustified and I think there is a very real risk that sooner or later Mcap could plummet to somewhere much closer to asset value. And if that were to happen, Mcap could fall by as much as £8 million or more. And with the threat of further placings and dilution, that would decimate the current share price and leave shareholders sat on a huge paper loss. Fruitflow may make it big one day, but personally i doubt it. Forget China, the big retailers here in the UK would have sensed if this was ever going to be big. They'd have been all over it. Fruitflow should be huge in the UK by now. And yet the reality is after all these years fruitflow appears to have utterly failed to make it big here in the UK hence they're having to turn to China instead. For any investor, that apparent lack of progress, that apparent lack of success, after all these years that fruitflow has been around, should surely have sounded the alarm bells? It appears the big retailers, as well as the consumers, just aren't that excited about it. Compared to asset value, the current market valuation of pxs remains absolutely ludicrous and that, for me, makes this a very high risk investment at the