Member Info for jollyspeculator

is the measure most commonly used in valuation because it takes into account the full capital base supporting the business ..in simple terms: equity plus debt (but not the working capital that goes with the business) ..complicated by provisions and pension deficits etc etc (but not relevant here) ...the MCAP has collapsed but the value of the business has not cos the debt has risen

but EV is £25-30m and hasn't fallen much at all ...the debt and limited/negative FCF would pose v v serious problems for company in UK, I would imagine ...but this is India

down here through that false floor

is v long term for me...I was on free carry with that sell at 1.46 but decided I just like the company too much so bought back @ 1.20...clearly shd have waited..and can see why investors might not see value until 70-80p range

just need several fistfuls of those to see off HGI then

to distribute lol ...but my sense is HGI may well be happy enough to sell down to close to fee carry and then ride the rocket through £1...why jump ship completely here? ...here's hoping

perhaps that explains lack of sp progress...they have c5m shares left...could take a while lol

EV/rev of c3; EV/gross profits c 5; and large neg FCF ...but history is bunk & the market here is exceptionally promising ..anyone got comparator multiples from NASDAQ?...wouldn't be surprised to see multiples twice as high lol

yep..sure is...that 22p seller must be feeling sore ...I'm impressed with sp resilience

any industry experts out there?

Indicative Terms Borrower 1PM (UK) Limited (wholly owned subsidiary of 1PM Plc). Facility Amount and Rate £100,000 - £499,999 5% Gross £500,000 + 6% Gross Points of consideration 1pm has been trading since 2000 and became a public company, listed on the AIM market of The London Stock Exchange in 2006. Its trading is governed by strict on-going financial and legal requirements and obligations and the management team have worked hard to establish strict underwriting and collection procedures, which has contributed to the Company’s increasing profitability and strong Balance Sheet. The Company is audited 28 times a year via its Block Discount Funders in addition to its regulatory annual audit. 1pm has never missed a loan repayment during its 13 years of trading. Loan Security Your loan will be used to finance a number of Lease Agreements. Every one of these Lease Agreements, along with the asset, will be assigned to you as security for your loan. During the life of your loan, 1pm will manage your portfolio of Lease Agreements on your behalf. We will ensure that you always have an aggregate value of 130% of the amount of your outstanding loan, providing you with a significant level of excess security. In the unlikely event that a Lease Agreement within your portfolio defaults 1pm will replace it with another Lease Agreement so that your cover ratio is maintained. You will also have the guarantee of 1pm plc.

63/5 is local minimum

you and Scarlett both dived in to syq @ roughly same level...and perhaps I would also have done if I did not already have exposure ...others agree with you..there's support at the 44-45p level ...so well done

forgive my ignorance here...do all these lines of credit go through 1pm's balance sheet or are some managed accounts?

perhaps a brave play on syq??..don't like the potential for placement (but then I already have my modest free carry ...so not a seller...just not a topper upper either)

you guys/girls diving in?

indeed...they have pretty much doubled their fire power during the year just ended.. ...any idea what leverage their business can sustain?...when will their equity cushion come under stress/scrutiny? if 4 or 5 * equity, then there is some headroom...if lower, then maybe not

well 0p? ain't any appetite to buy is there?...so perhaps the 40p "support" that I think lbg mentioned?

is key to my "investment philosophy" ...and there is always the splendid GBO Big blunderBus to bed down in

u clearly punt big: £30k here; £60k in QPP etc etc ...we have a markedly different approach lol