Member Info for HedgeHogarth

Robwire - when you successfully build a £200m business perhaps you will earn the right to be critical. Easy to commentate with hindsight.

Very sad and disingenuous to suggest that the BOD were wasting theor money when buying shares.

I personally beleive the Board are following the right strategy of re-investing its EBITA / Cash into new venues. This is a growth stock and has bags of potential.

As I shared in my last post - in a more conjusive market this company would be trading at a share price between 30-40p.

I have a lot of trust in what I regard a strong leadership team. Everyday I see the great work they are doing to grow the business - in particular they are doing so much to build their Corporate pipeline.

BillyBamboozle - I am not sure I would use the word fake. I'm not convinced it's an AIM problem either. The problem is that small listed companies are susceptable to both upward and downward pressure on their share prices.

The good news for XPF is that they don't need to raise and the current SP is irritating, but not damagingto the company of shareholders. The only damage i can see is it makes a hostile take-over more likely

I agree with you Mike12345

No surprise to see a bit of red today - the half wits who list the Tom Winnifrith will have heard his latest rubbish this company yesterday. (no idea what he said but I saw a headline to suggest it was in his daily podcast)

I have to admit it is tough and frustrating seeing the SP drift downwards; but the thought that his minnions will wake up one day to a RNS that will hopefully bring a more realstic conclusion to the offer period cheers me up. It must be 6mths now, I appreciate that these things can take time but we must get an update soon

I would not bothering arguing Josey.

Sadly too many people don't listen to sense and other viewpoints; Been like it since the Brexit referendum

As I have said before, MMAG have challenges; they do need to find ways of growing profitably. I believe this is very doable and can see a number of opportunities for them.

However they do a lot of things well; they operate in a growing market in a recovering macro economy. They are trading well and they can manage their liquidity, They are not at risk of going into administration.

Can't help thinking that someone(s) are making mugs of XPF shareholders

I've lost count the number of block buys that I've seen over the last few months - whilst good, honest loyal shareholders have lost patience, hit stop losses or been spooked by the lack of SP growth.

Vox Markets did a nice piece on XPF last week; the key messages that came out was that XPF are brilliant run, benefiting from a Strong Management team. They are growing well. And that they look very cheap at 2025 performance levels. IN any ordinary market this SP would be at least double - 2025/6 numbers are key - you don't buy a share for how they performed last year.

Sadly, I think we may not get to see this company thrive on the UK stock exchange; i still expect to see a foreign buyer snap this company up at a premium and take it private.

AIMO

There is nothing to suggest it is going into administration. The business is trading in line with expectations in 2024 based on what we’ve been seen so far and we know they trades very well in the latter part of the last financial year.

The only talk of administration is from those who seemingly are looking to profit from its demise.

The reality here is the vast majority of the debt is due to rental prop. This is why the bank loan was set-up. We know the company is favouring non rental sales so I expect to see an improved debt figure when they next update.

Added more last week. An absolute gift. I expect the 2024 EBITDA to be higher than current not cap.

Most of the debt covered by rental contracts and assets.

If I had the money I’d happily buy the company, pay off the small amount of debt and you have a business that will give me a return on my cash in 1 year

Snorters, whoops, i mean shorters still here I see

No doubt in my mind that XPF will be many multiples of its share price today - profit to the patient

There's not been any recent notifications of any sales by significant holders - only the recent advisal that someone had increased their stake

Strange comment

Mr Hanson adding can only be a good thing

Agree - BFT look a great investor to have on board.

https://www.bgf.co.uk/quoted/

Lots of other fairly chunky trades in last few days - looks like some short positions being closed to me.

Josey - you are in a spiky mood today

My understanding from the Takeover Panel is that the compnay are only allowed to stay in an offer period if conversations remain in progress. I do not see it as a choice that the company is making - infact I imagine they would happily come out of offer period if they were not engaged in conversations. So my only conclusion is that thye remain in offer period, because they are in conversatoins and therefore have no choice but to be there

I like it Robswire :-)

We did do the Maths on Rental a few months ago - It did look like it improved the ROI on a device

The caveats were being abe to control bad debt and funding the working capital

As Josey says

What we want to see from MMAG is improvement in Cash and EBITDA generation - back to pre pandemic levels.

Their most recent update suggested that the numbers are moving in the right direction

EG - I was not trying to be rude as I say. Sorry if he post came across badly. Tbh - it's a bit of a non-story. Believe it or not, accountants do like to keep things simple where they can. It would be crazy to think they would depreciate on a unit by unit basis.

You are correct - it is reasonable easy to gauge the depreciation from the MusicMagpie Website. (33% seems about right)

Two popular examples : (80% if their business will be on iPhone and high end Samsungs)

Samsung S23 (entry level SKU) 128GB 'very good condition'

£440

Samsung S22 (entry Level SKU) 128GB 'good condition'

£290

35% Depreciation (S23 to S22 is 1 year different and I have compared a Very Good condition with a Good condition)

iPhone 14 (entry level SKU) 128GB 'very good condition'

£520

iPhone 13 (entry Level SKU) 128GB 'good condition'

£370

29% Depreciation (iP14 to iP13 is 1 year different and I have compared a Very Good condition with a Good condition)

EG777

I'm not being rude - but if I had to choose between an anecdotal comment on how devices depreciate from you VS trust that the company accountants in conjunction with the auditors are doing the right things I know where my oney would go

You have to rememebre that their stock is not brand new in the first place. Like cars, a new phone will depreciate significantly when unboxed and used; 33% feels reasonable for 1 years worth of normal wear and tear on a device that will already have depreciated from new.

A loss is an accounting loss - a historic measure

EBITDA is a better indicator of the underlying performance