Something very important here... not only does it say there are no employees, but also it's quite clear that the directors are doing absolutely nothing to help the administrators (e.g. helping them understand what bank accounts the company has). These directors seem to have done a runner.
Nope I highly doubt it. For a company that claims to be bringing some inspirational and ground breaking debt accounting to the world’s biggest companies, yet they can’t even file any accounts on time. Doesn’t exactly fill you with confidence does it. And don’t go saying COVID is a good excuse, any accountant using that as an excuse for delays by now is frankly embarrassing.
Bonkers this brings back memories of G3E last year with citing COVID as a reason for delaying the accounts :’( that was a bit different though, turned out G3E was about to fail in court in a bid not to be forced into admin haha
How am I causing trouble? Market cap is £4m. Cash is £2m. Net assets are a third of the market cap per the statement from management. So net assets are around £1.3m. So the market cap is at a £2.7m premium to net assets. But there is no business it’s a cash shell. Hope this helps HH.
Oh do explain how they are miles out. Company is valued £1.2m. Company confirmed that value is more than 3x net assets. So actually company value is probably less than £400k - thanks for pointing it out
Why are you ramping like this is going to fly up? Net assets are a third of the company value. And the company has no business anymore. The company is worth £400k, but it’s valued at £1.2m. Think you’re over estimating the value of a cash shell.
RE: Over Reaction - Bounce back Inbound10 Apr 2021 19:18
Shorting here will probably actually lead to quick and decent results. This is a stock with one product, and the company has just lost half its revenue. Fixed costs all the same, revenue halved for the future and potentially a misstatement for Q4 that could drop revenues by 75%. This could be below 200 end of the month.
RE: GM After January Results Statement Price Crash09 Apr 2021 19:51
But the company doesn’t have any visibility over future sales? The main product is a COVID test that probably will be needed for 9 months maximum. We don’t have cold and flu tests on demand to do at home do we, this is a cash cow that has just stopped producing milk.
LargeGin - apparantely it's you who can't do the research... I'll provide a selection of MBBs tweets from the past week:
18.03.2021 - price was 28p -'Charts don't like, £8 a share last year, £80 a share in 2008. Nobody is selling this less than £5' 18.03.2021 - price was 31p - 'this still has 150%-250% rise left in the tank, America will be piling in when they wake up, this will be £1 in no time' 18.03.2021 - price was 31p - 'brakes come off at 38p, big re-rate!' 18.03.2021 - price was 32p - 'rumour of bet365 director to be announced tomorrow' 18.03.2021 - price was 32p - 'B90 only needs 50% early doors tomorrow to rerate to 50p, get in quick if you want a big gain early doors'
Anyone that followed the advice in the last tweet is now 50% down...
So don't go telling me that he has only been ramping since it fell to 17p, and that I need to do some research.
My ‘woeful’ lack of research told me the share was massively overpriced and allowed me to sell the vast majority of my holding at 31p with a very nice profit. The share price is already down 10% since MBB said ‘only one way this is going’ just 30 minutes ago...