Member Info for ihavenoclue

As a wise man would say and many here know it " the stock market is a very effective mechanism for moving wealth from the impatient to the patient " After ripping the arse out of this company and diluting the hell out of it the management have finally bought in. If you are in here already that is a good enough sign that they are upbeat about what they have now .. i just feel sorry for the investors who have been here for years.

You said " I wouldn't expect the new investors from the placing to have a short term view". Around Christmas, where the shares were about as wanted as bacon sarnies in a mosque, BLR released an RNS saying they were issuing more shares to their placing due to demand. All they were doing is selling very cheap shares to their big mates and all they did was sell them which is why the price crashed before consolidation. I can see no reason now why they won't do the same now. They were around 30p after consolidation and dropped to 25p ... they then rose to 50p so at which point did BLR put the placing ? Yes 18p ... why ? Management and their big buddies could get in at a very low level. I would not touch this pile of shite with someone elses bargepole ... if you want a quality run and well managed oil share then invest in MTA in MVHO Regards IHNC

Daniel Stewart's view today: "Our View - The business is in dire straits. Following the finals we reduced our PBT forecasts for 2008 by 29% and placed our target price and recommendation "Under Review". A very cheap sale is a possibility but run-off probably more likely. At the end of 2007 (March) the SHF's were £15.6m but Net Tangible Assets were actually -£1.5m. Implications - Debtmatters generated lower revenues from its cases versus DFD and Accuma, c.£4,270 versus £7,000. This gives an indication as to why they cannot operate profitably under the new proposed fee structure. Expect share price weakness for the whole sector. We have downgraded forecasts for all companies heavily and believe that our numbers for DFD and ACG are achievable. However, there is huge uncertainty in the market and this is not likely to be resolved anytime soon."

Even after today DFD still has a market cap of £68 million where as DEBT's market cap is sub £5 million. That figure is half what they aquired Loanmaker for last June ... scary really !! I feel what you said about DFD and IVA's is quite fitting. DEBT's problem is they are only getting £4,200 payment from each IVA where as DFD and ACG are averaging £7,000. If DFD aquire DEBT for say, £10 million, they can then gain the IVA's and turn them into profitable IVA's using their cost structure ... seems like a win-win situation to me. What do others think ?

This has created a macro-economic climate which is strongly in our favour with a growing number of potential cases to be dealt with. However, we have seen a period of transition during the first half of this year, from which we have not been immune, as the industry moves out of its adolescence and through a period when key stakeholders, including ourselves, are demanding increasing professionalism and efficiency. However Debtmatters' concern that they "may no longer be able to deliver IVA's profitably" is not one we share. To the contrary, the current market shake-out will have its casualties, but will also provide an opportunity for the market leaders in a consolidating industry that will continue to experience profitable growth. As a result of negotiations with creditors, IVA fees will increasingly be calculated on a "percentage of realisations" basis. This considerably favours the best operators in the industry, who have the highest levels of realisations for creditors. We believe that DFD has the highest level of realisations in the industry as well as one of the lowest cost bases and will therefore continue to write profitable IVA's, and also benefit relative to its competitors. We continue to be in dialogue with creditors regarding fee levels and the increased access for debtors to the IVA process. We remain focused on achieving a mutually satisfactory outcome from these discussions over the next two months."

someone has confidence ... Debt Free Direct still sees profit in IVA's " DEBT FREE DIRECT GROUP PLC COMMENT ON IVA INDUSTRY Debt Free Direct Group (DFD), the leading debt advice and solutions company, is making the following announcement commenting on the IVA industry in response to today's pre close update by Debtmatters Group plc and the subsequent and significant share price movements across the sector. As the market leader in providing services to over-indebted customers, our views are as follows:- IVA's are of fundamental importance to the UK banking industry and Government policy and will remain so. This is particularly true during this current period when levels of consumer indebtedness have hit record highs and with UK personal debt standing at £1.3 trillion at August 2007. The provision of IVA's and other services to creditors and over-indebted consumers is already a sizeable market and is set to grow for the foreseeable future.

Someone is confident ...

oh i would listen to my gut .. whenever i listen to my head it always screws up !!

Blackrock sold 23,500 shares in DEBT @ 66p each but still hold 2.55 million. So they reduced their shareholding in DEBT from 9.45% to 9.37% ... bet they wish they sold a few more now !!

I wonder what tomorrow will bring ? 15p ? 10p ?

18 months later than planned LOL

has anyone been in here pre-announcement ?

CMR COULD be a good company BUT they have very little cash and will have to go to market soon with a cash call for operating expenses. If you are looking for a good long term investment then research ORM ... taking into account the chart this year and the announcements made this year and the forth coming banking feasibility study. Theye were up to 23p last year and now they are further forward in thier plans they are at 9p ... i feel they have strong potential for the future. For a riskier bet research MTA. They have had two good drill results in Hungary but suffered as the second drill, which had a good commercial flow at shallower levels, did not have any shows at deeper levels .. at that time the market took a downturn and the SP got hammered. They are currently drilling in Russia and if they have a good hit there, in a very good success rate area then there will be a "huge impact" on MTA (CEO's words not mine). There is an upside of 15p+ mid term if they have a good find ... down to 5p if they hit a duster ... they are currently at 6.25p Do you own research on both All IMHO Regards IHNC

This used to be 2p .. i can't see it being £50 a share in a few years.

Don .. whenever a share jumps by a huge percentage you can normally bet that it is the result of a share consolidation. The company reducing its share issue, by say 100 times for example, would mean every 100 shares an investor did hold is now 1 new share but the price is 100 times more. Only trouble is with most share consolidations the share price nearly drops 25 - 50% afterwards in the short to mid term. After that if the company made the right decision it should start seeing the benefits of the consolidation and rise above the new share level.

According to the report the Debt Resolution Forum plans to challenge fees that are charged by the Insolvency Exchange, which represents a number of lenders, which are resulting in IVAs becoming an unviable option due to related costs and are driving some IVA advisors out of business altogether. One officials from the body stated: 'Unless an effective new deal is reached, an explosion in bankruptcies is likely.' According to the Insolvency Service, which is part of the Department for Business and Enterprise, creditors are often 'effectively refusing to vote in favour of IVAs where the fee is above a certain level'. The agency added: 'The longer-term effect could be to push more people into bankruptcy, where creditors would get an even lower return.'

According to a recent report a number of IVA companies are looking into suing UK banks for hindering the IVA process and therefore promoting an increase in the number of bankruptcies within the UK. IVAs, or Individual Voluntary Arrangements, are designed to try and help struggling borrowers that are swamped in debt to deal with their debt problems without having to resort of bankruptcy. The IVA firms state that banks in the UK are aiding an explosion in the number of bankruptcies by doing their best to hinder those trying to sort out their debt problems through an IVA. Banks are accused of placing barriers and problems in the way of borrowers that are trying to address their debt issues through an IVA, leaving them with no other choice than to opt for bankruptcy. Legal action may be taken by the Debt Resolution Forum, which is an industry body that represents a number of debt management and IVA firms.

You averaged 70p and sold at 65p ? Your stop loss is way too tight ... cutting your losses is a good idea with some shares but you have to give them a chance otherwise you might miss out .. like this time. The report i read on CART, at the time it was 65p, was a target of 100p+ and a stop loss of 40p. My point is, use stop losses but don't let them strangle a chance for a share to rise after a small drop from purchase price.

Did you really ask him what price he paid when he already mentioned the price ? mak67 .. you paid 35p and bought £200 worth. So say £13 commision and tax .. £187 / 35p = 534 shares. A 1 to 100 share consolidation would have left you with 5 shares. Value £6.75 ... would not even cover basic commission to sell them. Some you win ... etc etc

See if there is an upbeat RNS released tomorrow.