Member Info for Joner

So at the agm trading update June there was net cash of £110m, since then we’ve had a fund manager buy in, won a decent enough cadent contract and have a significant order book along access to undrawn debt.

I’m struggling to understand how we have a market cap of £61m - what am I missing here?

That was my take away from the RNS - why mention political environment otherwise, and the new loan falling into place at the same time is pretty convenient.

Anyway if the IP is thought to be critical to the U.K. I’m happy - I note our defence industry interest - rolls Royce etc which feeds into the same conclusion in my mind.

Not really it says that they are still in dialogue with the lender and store openings will assist in this. I would like to see the position resolved.

It is the only negative I could find.

Additionally I think it is naive to think a share was taken down 16% on 25 or so small trades

The going access to the £25m revolving credit facility detailed in the recent RNS and the potential breach of the covenants.

Any thoughts as to the reason behind today’s drop, it doesn’t seem to make sense

- I felt that in the main the recent announcements had been largely positive - Online up, Schroders consistently buying more, stores reopening etc.

Perhaps some certainty on the outcome of ongoing discussions with Lender would firm things up?

Also why is it timebound to only 1 year?

I’m interested that it is Invoice financing - usually put in place where there are maybe cash flow issues, or perhaps other borrowing structures unavailable to a company from the lender...

Often more expensive than other bank facilities.

Interesting extract from their Webpages as to their specialism area in equities, a number of which can be ticked back against SXX:

“Restructuring: participation in recapitalisations and balance sheet deleveraging via equity issues

M&A: favouring hostile, cross-border or otherwise complex transactions more likely to be misunderstood by the market

Dislocation: medium-duration, high-conviction trades with significant upside potential

Special Situations: “piggybacking” on corporate activism and/or pre-deal opportunities “

Perhaps SIS is the DFS of the sports nutrition world.

Your comparison is actually very apt. No I take that back DFS are profitable

I’d take 33% down I’m over 40% as it stands. So much wrong here.

As for marketing spend and the perceived success from some people on this forum, as measured by increased sales, if you give product away for nothing people will lap it up - what value have the marketing team actually added?

I invest for old fashioned reasons like getting a return hey imagine that - think along the lines capital appreciation or with some share dividend income - certainly not increasing sales at a continued loss or equity dilution. You couldn’t make it up.

Skid - in reply to yours I see the deals on social media, with cyclists tagging one another in -“ stock up they’re giving it away again...”

Busy Fools

Agree something has to change - selling more at no profit = busy fools

There is an established customer base, who are well aware that the product is fantastic but have now been educated by the company to simply wait for the next heavily discounted deal to drop in the inbox

A good start would be to value your product as top of the pile in terms of sports nutrition and stop giving it away

Same old story here, which frankly is wearing thin now. Sell loads of good product without making a bean of profit.

At least the cash position is relatively unchanged.

Looking at it they bought before yesterday’s sells.

Yes just saw the RNS which of course is very welcome. The trades yesterday show big sells.

Who knows ?????

I’m not sure of the relevance, but a quite a rise in volume of shares traded yesterday, with some hefty selling.

I do wonder if an institutional investor is selling down having lost patience.

The one I’ll follow closely is Paul Marriage at Tellworth / Schroders if he has lost patience here then I’ll look at my position.

Colinco can you explain the part where you say the company would have to be pay tax at source on the script dividend - I don’t think that can be correct?

i Just hope that they are acquired - it’s the only way I’m likely to see a return on my investment any time soon.

I like you, fully expect them to hurt existing shareholders again with further dilution.

It’s a shame - I think the products great.

Keep the rose tinted glasses on though.

Interesting article on Mr Moon’s compensation package:
https://www.google.co.uk/amp/s/simplywall.st/stocks/gb/household/aim-sis/science-in-sport-shares/news/should-you-worry-about-science-in-sport-plcs-lonsis-ceo-pay-cheque/amp/

I’m in at mid 170s, partly because I personally feel oversold, but also because if the economy takes a turn for the worse through brexit or global slowdown, that government have very little room for manoeuvre with monetary stimulus as interest rates are already historically low, so are likely to use spending to get the economy moving and as such infrastructure spend seems an obvious place to go, and fingers crossed longer term Costain may be the beneficiary. DYOR