I don't know much about football but I have heard of Sunderland and got a bit excited except apparently, it is not THE Sunderland but someone else. It is Sunderland Ryhope Community Association F.C. I think these are even lower than Rymans by the look of this. They are in Level 9 of this list. I wonder if this means we will be rich soon. http://en.wikipedia.org/wiki/English_football_league_system
I will eat my pantyhose. ""The stated position from City Index is that their platforms do work in the way we say they do, and that they effectively rely on our patented methods. However, they deny infringement because their case is that the Worldlink patent is invalid and have counterclaimed that the patent be revoked." No one would ever say that in a formal defense! The comment "effectively rely on" is typical WGP spin. If City Index are going for revocation rather than settling, it is very worrying. In fact, it is very worrying that City have chosen to defend at all. I wonder if they are in cahoot with Bet365 and others? At least we have some action though!
Good spot Jon, just seen the RNS http://www.reuters.com/article/2012/04/30/idUS168028+30-Apr-2012+RNS20120430 A change of corporate advisor and a new Auditor. Hope the latter is for positive reasons.
Has advised me that WGP do not have to Report today because they are a Standard rather than Premium listing on LSE and have opted out of many things as detailed on page 15 and 16 of the Prospectus. They will apparently "try" to do it within six months. He also tells me that they have the option to offer discounted shares in excess of 10% discount.
Just giving themselves as much time as possible to manage it. Their MO is to release bad news after close on a Friday so people have the weekend before they can act then before Monday opens, get a 7am Press Release on something else to try to deflect the Friday RNS. They did this when they announced that nothing was happening with OMT and announced the Chryson thing at the same time. Just a hunch.
Various convertible loans were in the Annual Accounts and some additional ones appeared out of nowhere in 2009 without any corresponding balance sheet deposits (funds for the company to use). These loans were converted into shares at the time of the £300K draw down a few weeks back. A lot of disgruntled people about the dilution but I think the issue is less the dilution itself (because in theory the debt has been removed which would have liquidated first in a sale anyway) but more because the loans that are being converted seem a little [add your own phrase - i will say "creative"]. I suspect the loans will be justifed as "services we should have been paid £100ks for but we didn't charge the company for".
I think they would be okay on the debt conversion as they will always have some level of inside knowledge converting at any time. I would be amazed if you see Annual Accounts for 2011 anytime before 5pm on 30th April. Bet you a Starbucks Flat White that revenue is well under £100K.
Haven't seen you on for a while. Are you still in? Chryson aren't taking a mobile version off Worldlink so no licence. Chryson has white labelled Saxobank as the are FSA approved and WGP have done it as an Introducing Broker because they aren't (hence why is it all Saxo documentation when you sign up). The mobile both WGP and Chryson are using for Worldlink Brokers is Saxobank's own mobile. They should be the ones signing up to the licence (and what a great win that would be!!).
I suspect it is because the revenue numbers will be poor and the longer they can wait without releasing bad news the better (or waiting for a good news RNS to be ready like a product release to come out at the same time). i-mobilemarkets, Jarvis, Ladbrokes etc have all had their first full years after bedding in so decent revenue should be present. I think they may will be well short of the £1m revenue mark and I have a slight feeling in my old bones it could be a disaster (i.e. less than £100K revenue). If its in the few £100Ks, fair play to WGP, they will have done well.
Deal. I reckon it get's released after close on 30 April itself or on Friday 27 April with very poor revenue numbers but followed by an unrelated RNS that is issued at 7am BEFORE the next trading day trying to take the pressure off. My guess is it is the Bet Butler mobile people have been talking about on other Boards. They did this on the OMT "acquisition". Announced it was off but then releasing the Chryson RNS before anyone could react (or mitigate the impact). I would be amazed if WGP missed the reporting date on their first attempt. The biggest concern is that the Bet 365 RNS and a new Bulford article on WGP did not move the share price at all whereas 3 months ago, an RNS was giving a big pop.