Member Info for mountainous

I take heed of @AquarianAge’s warning very well.

I think @AquarianAge meant to say negative shareholder equity instead of negative working capital. This was the exact same situation CINE was in. It is a very precarious situation - and SDRY has the added risk of Hilco. At least with CINE, the lenders were compromising and willing to negotiate to avoid default up to a certain point. Something tells me that Hilco won’t be the same and if SDRY slip once, Hilco will use it as an opportunity to strike and force the company into admin to swoop in and take their portion. As @AquarianAge said, they are vultures.

There is a real risk - proceed with caution. Nobody thinks the risk is large until the worst happens, I did it once with CINE and hope to never do it again.

@Registerme, looks like you were correct.

Suspension appears to be lifted.

The drop is not as bad as I had expected, especially considering the fact that the directors simply did not appear to know what they were doing with the suspension.

Let’s see what happens here - I’m yet to look at the results, hopefully today I’ll get around to it

Should have been Friday, who knows.

That is ridiculous.

Lol so even at 3:30pm, still not removal of the suspension. No point doing it now, maybe as well leave it for next week. How odd.

It should have been lifted this morning. No idea about the delay.

Regarding UK shares, the only benefit is the tax advantage of 0% dividend tax within ISA. I imagine that some of the big UK names that still have equity in the UK markets will move to US markets once the global economy improves.

At work, but plan to listen to it after.

@hash, it is on their company website. Although yes, strange that it hasn’t appeared here and that they haven’t lifted the suspension yet…

@SavvyInvestor, what is exciting you regarding bitcoin?

Halt now lifted. Let’s see what happens.

@Al4x just saw the same thing happen right now. It is showing on 212, I assume it is the same elsewhere.

Explosive this morning - tempted to take profit but made that mistake with RR last year. Sold at 84p on a small profit only to see the explosion that happened afterwards.

This time, I think I will hold firm.

@hash, good morning.

Should be today or tomorrow max. The suspension should also be lifted in due course.

Good morning @zstarz, thanks for that.

We should also ask why the audit is taking longer this time.

Is there something in the report that concerns the auditors? Have the auditors said that this company needs yet another equity issuance/debt raise and they are waiting to see what the company is going to do so they can update the audit? The whole Hilco debt is not a good sign, especially after you tapped your shareholders for money earlier this year.

We can only hope for the best, results may be decent for all we know - it may be that online sales have flourished whilst in-store retail has declined. That would be consistent with data we saw a few weeks back that consumer spending in physical locations has declined, but online retail remains strong and growing

They have said that the suspension will cease by the end of the week. I felt quite concerned when I first read the RNS at work, but after looking into it, I’m not extremely bothered.

I looked at the FCA D&T rules that the RNS mentions, and indeed in Section 4.1.3 it says that the issuer must make their earnings report public within 4 months of the end of the financial year. If we look at previous SDRY earnings, their financial years ends at the very end of April - 30th April last year. That is in line with what the RNS says that 29th August was SDRY’s last date to release earnings without a suspension, as 29th August deadline suggests that the financial year ended on 29th April this time.

My concern is what happens when they lift the suspension, I have certainly become apprehensive about holding SDRY. I wouldn’t be surprised to see a sizeable drop, if the results are poor then even worse. If what others have been saying here holds true regarding poor footfall in stores, then I think we know what to expect…

What do we have here today?

Very much unexpected, but at least we got the reason. Certainly not a good look when you delay the results to the extent you need to suspend the equity.

I’m hopeful that the results are positive. They urgently need to instill trust in their shareholder base again.

Their fiscal year ends on 31st August, then they usually take around 5-6 weeks to prepare the report.

We can expect them sometime in early/mid October.

I think the biggest concern (and what spooked the market the most) was the mention of Hilco, in conjunction with the huge interest rate.

It has been mentioned here before that Hilco appears to strategise by only providing additional capital to companies that appear to be in difficult straits, and when the company then folds, they can scoop up their portion as a lender.

I hope that’s not the case, and that the results give us some much needed positivity.

@andyalan - lol this has surprised me a lot today too.