Member Info for Globex

You're definitely not alone, the truth twisting that's gone on here has caught many by surprise.

I will say this despite collapse in investor confidence at least this board is so much more readable now, before you could barely raise a mild objection to actions of a board member without getting shot down by some ramper, they've gone quiet now.

Another thought, they have opened themselves up to some risk selling what is essentially an experimental/prototype in such a litigious country.

Beyond the moral questions of whether it's right to even be selling it this early, for their sake lets hope its doing what it says it should, because as we all know Americans will sue over things much less serious than cancer diagnosis.

It's pretty clear now no serious oncologist would risk their patient having to rely on results from a test that has not been through the rigors of a proper large scale randomised clinical trial. Let alone without NICE or FDA approval.

The article itself just says a Lance Armstrong quote was in the video https://archive.is/xWYgn

In context of cash burn vs revenue worth also reflecting on Burrows remuneration at £500k annually as of last report in 2022. That excludes share/warrant awards and subsequent increases. Of the £9.3 million raised last year, more than 5% equivalent was just to pay him.

This largely reflects the rise in underlying asset prices in that time, being period with ultra low interest rates.

It's possible to pick any timeframe to make opposing arguments. 25 years ago is ancient history as far as markets go and happened to be the peak of the 1999-2000 bubble. Share prices alone don't reflect the dividends those stocks paid or the compound effect of reinvesting them.

For a more like-for-like comparison with same market conditions the period from THG float would be more accurate for fewer external variables.

You are right about one thing, that over an ultra long timeframe most retailers are average at best. Luckily can't imagine anyone but the most diehard cultists plan to hold THG for 25 years, but seeing as it's revenue is already flat there is no reason to imagine its long term underformance will be different from any other UK retailer.

Here we go again, Taverham distracting from what was a worthwhile thread replying to another of my posts. I never wanted to engage with you but everything I post you reply to, so here we go again. If this is all because you missed the need for a larger clinical trial in order for the PSE test to get adoption, surely would have just been easier to admit you were wrong.

Now you're still on about Nigel Farage. What's your next suggestion going to be, every time someone says something good about Brexit they get 10% off their next prostate test?

Next is a very good example of how it could be done. As well as avoiding the governance clangers Monty888 mentions, for anyone only used to seeing THG accounts worth checking the contrast. There's no perpetually adjusted EBITDA (or any jargon to bury bad news), no intercompany double counting, actual tangible profit, trust is high because they're transparent about strategy, and regularly over deliver on the numbers. No lashing out or drama. It's all relatively unremarkable but market loves companies like this.

It shows it's possible to engage with investors and add shareholder value, while there is nothing inherently wrong with being on LSE as a retailer. As much as Moulding loves having the scapegoat of bashing his home market he chose to list in.

I'm not going to argue with two of you at once, I'm in this dog too right now so there is that. As for the long term decline, we'll have to see how that plays out.

We've all been on the wrong side of trades so I'm not rubbing salt in the wounds by saying the company is f*cked. There is just a market perception that one day it might be, as much as you wish there wasn't. tms as judging by some of your posts on this board you've been a bit triggered by all this so I'm going easy here.

@tms see any of the Swatch Group brands, Rolex via Bucherer etc, if anything WOSG are the odd one out because most luxury companies sell direct.

Still it's an unfortunate situation for WOSG to be in because even Rolex made every promise to carry on supply and do so for many years, all that really matters is the market perception of that risk existing of Rolex fully going it alone. So there will always be a Rolex shaped sword of damocles hanging over the stock.

I'm in for a quick trade today anticipating rebound but may have jumped in too early judging by Wace and Qube increasing shorts after drop.

Longer term I believe the company will steadily decline but not because of demand for watches/jewellery softening - luxury market is and will remain robust despite what naysayers say. Just look at steady revenues of LVMH/Richemont/Hermes etc over last year despite global turbulence.

The WOSG problem imo is 1) over exposure to weak UK market 2) more importantly their dependence on the brands particularly Rolex for supply. Leaves WOSG very vulnerable when the companies they rely on can pull the plug at any moment. To be honest it's already happening, most have a direct to consumer offering because why wouldn't they, by cutting out the middle man they can control supply, set prices and maintain their brand strength by not being sold in a mixmatch of brands type shop.

Guys good news on that front, AGM in a bit over 2 months gives all shareholders option to have a say on him and the other directors. Remember to cast your vote (if you haven't understandably given up by then).

I've already given my view on the conflict of interest / terrible optics of Diggle being on board while selling shares so won't go over that again, but will add here he'll be up for re-appointment too so could be an opportune moment to clear some of this rubbish.

Some of these incumbents have got very comfortable dining out on shareholder cash. As PIs debateable whether we can actually move the needle but who knows combined with IIs - I can't imagine they'll be that delighted with this lot either.

Also Taverham your suggestion of using Nigel Farage you mentioned in couple of posts to promote this or advertising on buses is wide of the mark I'm afraid. We're not promoting a consumer product. A proper trial is fundamental for mass adoption by getting credibility with doctors, and hopefully a foot in the door with NICE and the FDA.

And if don't believe them either you could ask any scientist working in pharma about typical clinical trial sizes/demographic mix required in order to progress any new medical test to the point of peer approval and successful validation.

Taverham I suggest you read Prostate Cancer UK's summary when the result from their sample trial was announced. They explicitly state the need for a wider trial in order to determine the validity of that result, because it was based on a narrow field of participants.

The riddle for me is the board playing stupid when they will have been well aware about need for a wider PSE trial from the outset. The evasiveness when they've been asked about it is a red flag.

It raises an awkward question because we are not talking about stupid people. Having patted themselves on the back with a good result from a small non-diverse group, are they now deliberately avoiding a proper trial, knowing the first result from such a limited sample may well have been a fluke.

Why risk the 94% success being undermined when instead they can rest on their laurels and blag to media and unwitting punters regardless of sample size. Unfortunately they've been found out by their peers, no-one's buying it. Woeful sales tell their own story.

Agree with that lightbulb1, with what we know know of the bubble from September onwards being based on false pretences, seems inevitable it'll now return to its natural longer term trendline, 5 year chart tells its own story.

With hindsight that was a bit of a red flag when Hut CEO would repeatedly make claim it was a merger of equals, when on the one hand you have a massive 9k btc then on the other you have an enterprise literally consisting of some machines phoenixed out of a bankruptcy auction.

Did you guys notice on p27 of report Argo didn't make the chart? Good job from the shorters' point of view as it would have been further to right of Hut, and required further dropping the Y axis!

Goodwill and trust have completely evaporated, board desperately needs a shake up