Member Info for Hexam

"Actually Hexam I admitted I was wrong"

Not, as I stated, the first time when I quoted the profit. It was only when I pressed further that you finally caved in. At least you did eventually as that's not something you usually do so credit for that!

"perhaps you can try to justify Bon Scott's maths."

I think he was just rounding up which of course is naughty. Bad boy Bon. However I could produce numbers to give £20m (you talk of rent, I could talk of interest on the money borrowed, lost opportunity costs of other uses that money could have been put to etc. I won't though as it will just result in pointless to and froing that will continue to bore anybody else reading this board as well as giving you exactly what you want - a deflection from the fool you have made of yourself already on here today. So I'll leave you to find somebody else to pick an argument with.

It's amazing you keep accusing me of being troll blind when you are blinded so much yourself in your zeal to try to score points and discredit anybody who might hold a different view to yours. Who really cares whether BWNG made a small profit or loss but you tried to come across as all superior by suggesting it was not statutory profit. It is obvious to anybody looking at their results for more than five seconds that they made a statutory profit but you were so eager to put someone down and post derogatory comments that it made you blind to it. Even when I first pointed out you were wrong and quoted the actual profit number you were still blind and insisted you were right and then turned your nastiness onto me as well.

This is a perfect example of why I have such a problem with you. Always trying to belittle others by using arguments which only show up your own shortcomings and being guilty of exactly the sort of behaviour yourself that you accuse others of. Thankfully I don't think many here trust what you say anymore so are not mislead at all by you.

Perhaps try not to be so sneering, condescending and persistent next time you try to score points and, in your words, "If you wish to interject, maybe you could consider what you post a bit more closely".

Same applies to your comment on the Soho office. Bon was not saying it had already been sold - just you twisting his words (shocker). He is of course suggesting that it will happen but that is his opinion. It is also mine as is that they will lose millions on the deal. We could both be wrong though.

"How much has BWNG revenue dropped Hexam

Would you regard that as a good result for Boo?"

Yes, if they swung back into profits like BWNG has done.

The interims refer to statutory profit as well. Just apologise and move on for once.

"The answer to the question, which you avoid as usual is that you haven't a clue if BWNG made a profit in the first half as their update refers to adjusted figures not statutory."

Statutory Profit was £0.2m as is clear in their results. So a profit albeit tiny.

All these good results elsewhere just emphasise that the problem is more with BOO than it is with the market. Hopefully there is some truth to the rumours of a shake-up at BOO as it is badly needed.

*sorry, forgot the caveat:

I'm almost certain there'll be a fund raise of some kind before March UNLESS some of the court case money comes through (this includes the €530k they already hold but is currently not theirs to spend freely).

"QBT's cash balance is satisfactory in my opinion for a small company on Aim. I'm almost certain there'll be no Placing until March, April at the earliest. QBT's cost base is low."

QBT's cash balance is poor in my opinion. I'm almost certain there'll be a fund raise of some kind before March (not necessarily through a placing though). QBT's cost base is high in relation to its available cash.

...let's just wait and see who's right shall we?

"I can't wait to be part of QBT's journey to fuse advanced cryptography with cutting-edge AI to develop truly transformative solutions."

Hasn't he already been working with QBT as a consultant though for about a year now?

The same sort of one you've been making over and over again. Still, it plays to the gallery I suppose.

Surely if they were all GSA stooges they would be even more active now as the short appears to be closing so they would want the sp as low as possible whilst they do?

I think the lack of posts just reflects the waning interest in a company that never delivers and the futility of posting when most get deleted anyway by the actions of the more insecure types on here.

I’m not sure the insti etc. holding of Capita is above 85% (the data on this is flawed) but even if that’s true I don’t think that precludes a bid whatever their current share price averages are.

Unlike PIs I suspect the big players are far less bothered at selling an individual investment at a loss if they feel they can earn better returns elsewhere.

That said I don’t think an organisation like Capita would be near the top of many shopping lists. Not because it isn’t a good prospect (I think it is) but it is such a complex beast that I’m not sure many would want to be troubled with running it.

Think that summing up is pretty much spot on ExLA though doubt you’ll get a consensus here as there are still a lot of Boo fanboys on here.

I also agree that the omens on the results are not good as, like you say, they appear to be being bounced into selling the good bits by shareholders.

That pressure will only intensify if liquidity/debt position worsens further in the results.

I'm not sure they could have sat on the news of closing the US distribution centre as arguably that is big enough to count as price sensitive news that has to be disclosed immediately. It's not as clear cut as all that though so perhaps that could have got away with delaying it a little while.

"My point is that it would be odd to pre-release a partial profit warning, then follow up with another guidance miss in results."

I'm not sure that it was any sort of profit warning as they didn't really offer much by the way of guidance on profits anyway (apart from wanting to improve EBITDA margin). So I don't think anything can be inferred from not saying something with regards to the rest of the guidance (which was also pretty thin on the ground) especially as the interims are where they have reduce guidance in the last two years.

So if there is to be a change of view on positive FCF and a growth in GMV then I expect it will be (this week?) when the interims are released. The mood music suggests to me that they will downgrade expectations and no longer forecast either of these things happening. Not long to find out though.

Yes Broom that would make a lot more sense and seems consistent with his later note (and is basically what most of us do I think).

“For the record, I've liquidated all my stocks investments and currently not trading on any stocks.

Obviously, I'm going to miss out on potential gains now that I'm out.

I've parked my funds in a flexible isa”

So £20k max? I thought you had over 200,000 CPI shares alone…

"Ok so what we are saying is if they do start to reduce the portfolio. The share price should re-rate back to 80p & more?"

Possible but I think a little optimistic. Obviously depends though on how much they sell and how good a price they get. Of course there could be nothing in this story (even though it sounds quite compelling to me).

Plus BFT there are plenty of examples of companies selling off prize parts of their business for decent cash and seeing a spike in sp including recently with Capita and, much closer to home, ASOS. In both cases part of the uplift was due to the easing of debt issues, which would be the same with Boo.

In simple terms though by selling the good bits might leave what is left looking a lot less attractive but it immediately unlocks value from the good bits which is not currently showing up in the sp.