Member Info for Gotrader

As predicted 2 trades yesterday was a director. Emma Kane buying shares. Perked up share price by 9%.

If you exclude one off which includes about 500k for redundancy costs I think they actually made a profit before tax. Also the 300k for the new loan facility and other A and D costs. They have cleared a lot of the bad news in these results. I think 4-5p here is very possible. Results on Monday as they plan a few director buys during week. Build up the hype.

All three trades happened within a minute of eachother. That was my logic. They could also be the reason for the 66% jump last Friday. In which case more likely HH or Morton. If directors could be someone else. They do appear to be sorting out whats left from all these purchases David Wright made. That much gives me confidence. Emma Kane has shown great business sense here. She knows what she is doing.

Just noticed a 20k/30k trade. These could be directors. Out of sync with the normal trade patterns. See what happens.

https://www.prweek.com/article/1463326/porta-boosts-full-year-earnings-amid-senior-team-reshuffle (Google article if it won't display.) Porta result also state - The financial performances of Newgate Australia, Newgate Singapore, Newgate Hong Kong, Redleaf Communications, Publicasity and 2112 were all either excellent or much improved during the year. Publicasity PRWeekly suggest gross proit down 8% but ebidta up 20%. Which menas better margins. Redleaf revenue was actually up to 4.3m with profits up 80k. '2112: Following a business restructure in Q1 2016, 2112 improved its financial results in 2017, with adjusted EBITDA up 354 per cent ' (PR Weekly.) Newgate UK. 'Although Newgate Communications brought in 72 per cent of Porta�s gross profit, its financial performance was disappointing overall, with total gross profit down 0.2 per cent and operating costs up 11 per cent, primarily down to employment costs.' (PR Weekly) This has always been the big whale in the room. If Redleaf can make 580k profit on 4.3m why is Newgate UK not doing the same? Too much management? Is small beautiful. So overall there are many divisions here doing well. Just need to get Newgate UK back into a healthy state. That and sort out Capital Access Group.

Revenue circa 40m up from 37m. (19.44 in H1) Cost of sales 6m down from 7.4m in 2016. So improved margins? How did they reduce this by 1.4m? H1 was under 3m. Ammoritisation and Depreciation 2.3m Lots of write offs including Summit ,13 and a smaller operation. Impairments 511k Restructuring costs of 611k. These 3 account for 3.4m of the loss. 1.4m tax charges accounts for the rest of it.. Reported ebidta 2.8m vs 1.16m in H1. Operating and admin costs up nearly 4m on 2016. Overall they are throwing in quite a lot of admissions that previous purchases were not great. 13, Summit and Capital Access Group. CAP are eating cash and making a 300k loss. They impaired this to value of 863k. Redleaf lower revenue but higher profit. Redleaf profits up 81k. Newgate pty revenue now at 14.1m. Profits at 1.357M. Up nearly 500k. Debts at 8.4m. So cash in the business has not changed hugely. Still issuing shares here to 3rd parties. Overall they are closing non profitable elements of the business but even with this revenue up by 3m. Suggestion revenue could be hit and costs from further restructuring in 2018. I guess see what happens. They seem to be gradually managing the costs of the UK operations. Which explains all those staff leaving as I previously pointed out. Worth reading section 25. The Company received a two year rent free period as a lease incentive. The total minimum lease payments are allocated over the lease term evenly and therefore rent charge recognised in the Statement of Comprehensive Income is different to the contractually committed cash outflow. So longer they stay there the cheaper the rent? Lots to work out here. You never get clean figures from Porta. It's working out what cash the business is making and how much of the losses are purely write downs of brands etc.

5.5m loss after 3rd party dividends. 1.9m cost savings in UK. Australia the star here. UK element gobbling cash.

Shorts running out of steam? I really doubt that. Too many funds choosing to target this share. This is pocket change for them day trading here. Smoke and mirrors.

https://www.prweek.com/article/1463218/porta-ceo-steffan-williams-departs-firm-merges-redleaf-newgate Good article with comments from John Foley. Bring on Monday.

Overall a great day. Annoyed I did not top up at 2p. I thought that was a crazy price. Bring on some director buys on Monday. That could easily shift price. It may also be the reason for the big rise today with big orders going in. 3p was far from impossible here. 61% rise is fantastic. Same again Monday please!

Wow up 44%. Happy to state the obvious on this occasion.

Up 26%. Director buys less likely now as Emma Kane will get millions of shares from next put call. Maybe other directors could buy in. 3p is not impossible here. Hopefully results will mention cost savings.

My guess is UK Newgate has 50+. Redleaf maybe 10-20. Note that 100 figure won't include cap, publicasity or Newgate operation abroad. So they may well have over 200 staff still. They closed Summit. Overall 1-2m cost saving would add value here. Maybe move to a smaller HQ? See what happens.

So Steffan out the door. Bryan Tyson and Emma Kane taking over. Emma Kane holds no shares in Porta. Which means those 9m trades before Christmas were likely her. Steffan was being paid 300k. So a costly wage off the staff bill. What to make of all this? In some ways this makes sense as the Australian business has grown amazingly here and the UK business has been cut back a lot this year with a lot of senior staff and admin leaving. Who is pulling the strings now? So results on Monday.

So shorts went from 12%- 8% and now are heading back up quite quickly. Target 90p. See what happens.

Nearly 4m shares to 2 PPS staff. Looks like David Telling has also left. He was a more recent senior hire. They really have been cutting back on the UK staff. 5-6+ senior hires gone. 10 Newgate non senior staff have left. Who knows what is really going on. I do hope this is cost cutting rather than large amount of staff leaving over the year. It would make some sense to reduce costs in the UK as they are still posting losses. See what they announce in the results.

Shorts up to 8.96 GSA Capital Partners LLP 0.55%. I suspect a few companies hiding just under 0.5%. Coltrane up to 2.51% Marshal Wace 2.8%. 20th of April was a busy day short wise.

No and yes! Wait and see what next week brings.

Criterion raised their short on 17th by 0.12%. Seems to be a constant shuffe between the shorters to maintain 8%.

Maybe a director after the results? It's clear the people in background are 100% happy to mop up any sold stock here.Could also be Morton? I assumed results in late April means 27th-30th. The seller is clearly not done here. I think the timing of these trades is 100% planned. Unclear who it might be or what stock they have left. I always assumed Redleaf or Aus holders.Could be a larger holder? I think Redleaf would just do one big trade. Hard to knwo what is going on.