Member Info for Jam4u

The positive signals are there for all to see. Today's RNS was another indicator, but to mention a few:

1) JV investment to accelerate growth in ProLong (+£275k for IDP)
2) Amazon DTC shop established - this retains more margin for IDP, and less cost
3) Link-up with Liberty from Love Island, providing huge national coverage
4) Revs is on target (per RNS from 22nd Oct)
5) Mark Ward spent £90k buying 223,133 at 40.5p on 14th Sept (see RNS from 16th Sept)

Ask yourself does the above suggest a company that is not turning things around???

Yes £275k into the coffers, a medical device product with great potential just resurrected and Mark Ward in deeper. We keep a decent %age still with no further cost to us nor efforts.

I'm hopeful this lot are about to turn things around here.

Yes, its not a great product - I tried it and have to agree not great. I am told the wax removal is good, but not one I tried.

I think the new Mgt team need to do more on that front - I'd like to see IDP and the new CEO being a bit more aggressive on that front. I do think we are lacking visibility and no real view of where and how growth will come.

I am continuing to back the current Mgt team to deliver, but they will need this new FY to show it.

I am not sure the sp of CRL would be at current levels if they acquired IDP tbf . Give it 12 months, then let's see where we are.

First day on market and with backdrop of legislation coming in post Grenfell, these are in exactly the right space.

Well that was more brutal that I thought in terms of the Balance Sheet clean-up, but I'd rather they get it all done in the one go, and at least they explained why - just goes to show how bad Joe Beyer was with it all.

Also, good to see applying a value to Customer Lists and accounting for it on the Balance sheet will be done away with - I was never comfortable with that - it does mean the Mgt team now need to deliver on margins to ensure a profitable and cash positive business. All eyes on this new Financial year now....

Yip, and plus the last lot werent up to much given they allowed Joe Beyer to do what he did - The Clean-up is nearly complete - just need final year end numbers and how the new Mgt team intend to sort out the dodgy accounting ...

Agree Shandy - You've saved me a job. I was going to go through the accounts this weekend to work out how much untangibles were valued at and come up with an estimation my self.

Based on your numbers you've provided, I think if they do this and I expect a good £6m being written off, thus making the losses £7m (adding in the £1.0m loss from H1) then the accounts should be cleaned up and the Company properly reset to start from scratch. The key then is that they have sufficient sales this 2nd half to end Jun (that is profitable at least), and a future roadmap to grow from.

The false profit reporting is what the likes of Graeme Neary and Co. were not happy about, that stopped them (and others) from even considering IDP as an investment. For me, its a huge positive AS LONG AS the new Board start delivering demonstrably growth in sales and profitable sales.

I posted this somewhere else:

End of year is nearly upon us. What are thoughts/expectations or what good might look like?

My take is somewhere near to £10m revs will be very good, given its still a Covid-ravaged year. Hopefully this half was profitable to help bring down some of the 1.0m loss in H1. AT the very least, I'll be looking for breakeven so we stay static.

I am mindful of this from the H1 Trading Update RNS from Mon 11th Jan where this was statted:

"The Board will also be undertaking an impairment review exercise on certain intangible items on the balance sheet to reflect the impact of Covid-19 and recent trading. This impairment is likely to be substantial but will have no material impact on the Company's prospects, trading outlook or working capital position. The Board expects to conclude this review ahead of the financial year end (30 June 2021)."

I draw particular emphasis on "This impairment is likely to be substantial but will have no material impact on the company's prospects, trading outlook or working capital position". I hope this will mean we will get rid of or write down some of the somewhat dodgy accounting principles that the old lot (read Joe Beyer) was employing by valuing Customer Lists, the valuation applied to ProLong/LifeSciences that clearly is not delivering. If so, this will have a paper-based impact that will likely inflate the loss on paper by a big amount, but I would take that positively as the new team clean up the company.

Key will then be what the company will do to improve in 2021/22 going forward. Its all been very slow to happen and the pace needs to be upped, with visible progress being made in delivering results. Otherwise, I can see a Creightons coming back for another go and this time, it would be difficult resist.

I've taken the open offer and also applied for extra in the excess application. Be interesting to see if I get the full excess.

I must say, I am feeling very confident with this new team, the fact that lockdown is easing. The silly offers on facebook seemed to have gone now and so it feels like there is a co-ordinated strrategy that fits a premium brand like SkinnyTan. That in turn should drive increased margins (for less effort) thus helping achieve true profitability. Folks should look into the Mgt and their backgrounds too.

Not everything is as I would like it mind. I am not convinced about the amount of staff IDP still have on the books and in Oz. I am also not 100% convinced with the strategy to reduce the amount of stock levels we carry at any one time as the previous mgt increased them last time around because IDP constantly run out of stock and therefore missed revenue opportunities. Finally, looking to mainly focus on SkinnyTan is a risky strategy and I would prefer diversification - they will learn this through experience I feel but hopefully not this year!.

Key for me is to get to TRUE profitability and not an adjusted figure by manipulating the Customer List or other silly trick that they think investors dont see. But overall, feeling confident these will deliver in spades between now and the next 12 months or so.

I'm hoping for higher than 25p myself, much higher. Let's see...

Its clear someone is very IDP hungry. Its my guess that like yesterday a big buy order is being worked. Let's see.

News is cometh, I am sure and what a Half we are all going to have.

Not sure we'll see 500k profit. I think anything near breakeven will be a positive. I say that on basis of work and upfront investment I suspect that will be needed to be 'launch-ready' with the new category. We already know the new category is expected to go into all 800 SD stores in this quarter. That means all point of sale material, stock and any other launch activity costs will largely be incurred in H1, which should then mean H2 is all about getting the sales in with out the costs.

I'm looking for £5.0 to 5.1m revs though, anything above that would be fantastic.

Lets hope its out tomorrow or Friday.

that should end with "... and even better prospect to look forward too!"

I dont think its about investors confidence now. Right now, it will be all about churning through some of the traders that have band-waggoned onto this opportunity (and who can blame them!!!) . But with 4m shares being bought up, my guess is a good up to 2m (prob more like 1.5m) need churning through. So, once those that are happy with their 10%'s and so on are done then we will be ready to properly move on.

That all said it is severely undervalued at these levels and newsflow will help keep liquidity and churn progressing. Then it will be ready to really go for it. But hoping for this to be back in 70's pretty quickly, but then see trade in a range for awhile we we churn through the short termers. Im all good with it, As I have no intention of going anywhere for a good 2 to 3 years. The real prize now is letting Kieran Callan and team work their magic.... IDP has great fundamentals and even better

Just catching up, its all done and confirmed now. This company is now free to get on with it and Haris has left the building. Significant for IDP and its shareholders left holding.

I crunched some numbers yesterday. 1.4m shares were 'booked' yesterday as sold at 55p ish. They were defo sells. There is no one else that could have that many shares to sell (at least not declared). So, i'm struggling to see ow it cant be Haris. I'm hoping they have gone a single holder or insto as I noticed some very chunky buys too. Lets see ...

Agree, that this is a tad mis-understood.

The other point to note is that the results are audited every year and the annual report and the auditor acknowledges the intangible assets and their treatment. They would require evidence and justification for the valuation. I am told it would ordinarily be a flag to any auditor, and so they would query it. The fact they spend some words saying they look at the model and assess it gives me some reassurance. But I can see why Neary might be cautious, but he omits that bit.

At worst case they are still positively growing revs, even allowing for 100% write-off of these customer list capitalisation costs, they are still profitable and growing that too, plus they have free cash flow.

The damage done yesterday was because of this seller. I have a feeling it is Haris ... we will find out in time Im sure.

Its actually rubbish, and has nothing of any substance in it. And ends by saying on the wtachlist. For ************* I read that as we like this and will look for a better entry.