Member Info for MikeF

Exactly, another very good point which could help this company considerably, everything has been against them the past 6months, hopefully things are now on the turn the next 6months could bring very promising results. With twice as much cash as current market cap i just can't see why the sp isn't reflecting that! 5p has got to be fair value??

No worries, what do you think? Have you looked at the company in any detail yet?

I would say that that the wages for directors are a little excessive but that is the main reason for the losses, the company as a whole seems to be doing very well at keeping its head way above the water so to speak and cash value alone is surely a great buffer for investment? i.e in December if the cash burn remains the same they will be looking at 600k in cash which is still more than the current sp! I think this company has a great future and will become a very good investment. Feel that fair value is around 5p still taking everything into account...

Stuart14 - 29 Jun'09 - 12:49 - 202 of 203 For my sins i've been in from the beginning Mike. There central london restaurants are high quality, don't know about the Redhill venue, but imagine it is good. I don't think they need to offer much that is different to elsewhere, but there is no leading Indian Restaurant Chain in the U.K and that is a space i'd hope they can fill given time. The plan to integrate individual restaurants into the group makes a lot of sense, they'd benefit from the economies of scale, and the brand would add weight through-out their geographical regions. My big bug-bear at the moment is the directors salaries. Nearly £500k has gone to those 2 in the last year. £100k each would be fair. £300k saved would have been enough to bring 2 more restaurants into the group. I think Haresh is a very smart man, with the ability to deliver. Not so sure on what Amit's role is. The Mela Group bought management with them. There are now at least 2 Indian restaurants with Michelin Stars in London. They should be aiming to get to that level. The Cinamon Club is a truely great experience for example, and always busy. If they can start to attract the corporate diner as well as the evening and weekend locals they'll be in a much better position. Lastly, it is a shame we didn't get Bombay Bicycle last year. The debt would have hurt the group, but the size of the chain would have really helped us long term

With their cash @ 918k and their current market cap @ 430k these look a bargain... GLA

They are a chain of Indian restaurants in the UK. The only one on AIM. GL

Half Yearly Report is out and it doesn't look too bad, they are still struggling in this climate but who isn't!? Looks like they have twice as much cash as their current market cap and i liked the outlook: Outlook We are adopting a very selective expansion plan in the light of the current challenging economic conditions, whereby we are targeting certain selective areas which will complement our existing units. We are well placed to take advantage of the opportunities when the market recovers. Also liked this bit: With respect to our units in the West End we have started reducing the levels of promotional discounts, in order to protect our overall margin. It is good to see that significant investments made in our promotional activities have resulted encouraging sales, and we will continue to modify our campaigns according to the changing market conditions. Things could start to go well for them as soon as the economy starts to improve but at the time being cash value alone they should be on around 5-6p IMO. Any thoughts?

http://www.investegate.co.uk/Article.aspx?id=20090629114900H5693

http://www.investegate.co.uk/Article.aspx?id=200906291100196643U

to keep an eye on...

The Company's issued share capital consists of 13,079,850 ordinary shares with a nominal value of 10 pence each ("Ordinary Shares"), each share having equal voting rights. The company does not hold any Ordinary Shares in treasury and therefore the number of Ordinary Shares with voting rights is 13,079,850. The percentage of the Company’s Aim securities that are not held in public hands is 41.12%. At 26th May 2009 the following interests of shareholders in excess of 3%, have been notified to the company.

out by the end of this month. I have topped up this morning can buy @ 3p!

Mate, check out PMA see if it doesn't look a little suspicious to you...

http://www.advfn.com/p.php?pid=nmona&cb=1245926881&article=38373316&symbol=L%5ECAN

Waiting for the average down mate ;)

What are you getting excited about? They are being delisted...

WHATS WITH THE CAPS???

I have an average of MECN share @ .0277p and just going to hope for the best! Worth a punt IMO @ .001p which is what i tried buying them at and got screwed over on neg trade. Hey ho. GL

Thanks for that, so do i assume that the lower the average the easier the shares will sell and the higher the average the less likely you will see anything back? thanks in advance.

Apparently there is a slim chance if you just let them relapse you may get your money back thats what im hoping for anyway lol my £250 buy has left me with £40 atm... no point in selling so will just keep everything crossed and hope for the best! GL