Member Info for OilNovice

In case anyone cares, with my c.350m votes...
I voted 'against' to resolution 7 and resolution 8.
The rest I voted 'for'.

Welcome aboard.
I'd love to know your reasons for investing - but understand if you don't want to divulge.

RKBeekeeper - may I ask, are you invested in ICON? And if so, when did you first invest?

It is not clear.
They also state categorically that the maximum monetary value of ordinary shares they can issue is £124k x 2.

Strange. Needs charity.

sohbutt - you keep saying "don't shoot the messenger"...
Please can you either tell us who you are quoting / relaying information from? Or just say that these are your opinions!

spedders - the loan is still in place and will be paid back within the two years as stipulated.
I believe they have given up the option to convert the loan into equity of Greencastle...
The additional revenue per month is separate to the loan.

Sohbutt - I've already put to bed the £1m confusion with your alias sohtahbutt...

Below is from the the 3rd July 2020 RNS:

"Fintech services contract
The Company stated in July 2019 that it had agreed a deal worth up to £1m to provide marketing and consultancy services and that the deal was subject to final documentation. As of today's date this deal has not yet been completed. The Company is in regular communication with the client about a strategic partnership, however due to cash constraints from the client's perspective caused partly by the Covid-19 pandemic the contract is likely to be materially different than originally agreed. The Company will provide a further update in due course."

Dingodog - the annual report will only cover the 12 months up to end of June 2020. Therefore it won’t show much revenue or any profit.

You want to move straight to the forward guidance and business outlook sections.
That will be where the valuation comes from.

Sohbutt
I hope you mean 0.01p (not 0.001p).
Can you tell us who you are relaying this message from please?
And can you ask them what fundamental analysis OR technical analysis they are applying?

B009
- they went from 1.6bn to 37bn shares this year, but the MCAP increased from c.£1m to c.£5m - good fundamentals if you ask me
- as adamk says, an sp of 0.03p wold value ICON at c.£10m. Depending on your valuation methodology, that is very realistic, no? How is this not logical? looks like this year's revenue could be £2m so a ratio of 5...
- why are assets important to your analysis? And what type of asset (tangible, intangible)?
- I think everyone on this bb agrees that the dilution has been awful. Unfortunately it was agree to EHGOS or fail. It was our choice as shareholders to buy/sell knowing about this dilution.
- I agree that Director buying would be great. We don't know why they aren't, and some communication on this would be well received. But it is not changing the fundamentals OR technicals.
- So the BoD / David Sefton has connections with JOE and other clients - that's how most small businesses work - why is this negative? I agree that new contracts with new clients would be very positive.

I'm still intrigued to know your technical analysis and your valuation of ICON?

B009
So please enlighten us with what technical analysis you are applying? And what's the strategy / output / timeframe?
The only technical analysis I've seen is from Zak Mir - but I personally don't believe you can apply technical analysis to ICON (I personally don't think charting is worth doing). Even so, he is stating that his technical analysis points to upwards movement is sp - not revisiting 0.01p. Please share your thoughts and methods?

And please tell me more about your fundamental analysis - so far you haven't really looked at anything in detail, just cherry picking. I would love for you to explain to us all, specifically for ICON:
- Why having 36bn shares is bad fundamentally?
- Why is £2m income bad fundamentally?
- Why is £600k salary for 3 BoD members bad fundamentally?
- Why is no Director buying bad fundamentally?

Bale - you need to go back to April / May 2019 during the transition from WDC.
I believe Nuuco was a David Sefton shell that invested in ICON to give them capital.
The other company names may have been part of the restructure at that time. Tax shells maybe.

You need to bear in mind that we now have a much larger MCAP due to the increased share capital at c.37bn shares.
Any significant rise in share price is adding far more value to ICON now.
But, I agree that the RNS today in my opinion should have pushed the value up more than it has...

There is still uncertainty - transparency is needed around the remaining debt + what is going on with J-F Ott.
But this will all come out in the wash with the Annual Report.

B009 - please explain how LSE don't think my posts are factual?
If that were the case, they would be removed... Again, I don't understand your thought process.

Also, I look at ICON in terms of value, rather than share price. And since suspension, the company has shown significant growth - I've posted about this several times previously - from under £1m MCAP to now c.£5m.
It is a shame that there was the awful EHGOS financing agreement in place as otherwise this increase would have been aligned to share price...

B009 - so your opinion is that Shard, Ott, and whatever professional investor bought the placing shares are no different to EHGOS? Short term flippers?
It is difficult to understand your thought process - why are you saying Directors are not buying?

I have no idea who has been selling or buying over the last weeks. Nobody knows. The daily volumes and trade sizes suggest it could be retail investors and Institutions. But I don't know.
The only thing we do know is that EHGOS sold c.5.7bn shares and J-F Ott bought 5.7bn shares.
We also know that a professional investor has bought c.6.2bn shares.

It's interesting that when I post factual statements with number, LSE tends to not remove it...

Please do respond.
And it was for context that I ask you "And at what price?" - sorry if this was not clear. The point being why would they sell now??

Regarding me being naïve, my posting history, and subsequent thankful replsse from other posters, should answer for itself...

Why do your posts get removed?

sohtahbutt - I've already put to bed the £1m confusion with your alias Sohbutt...

Below is from the the 3rd July 2020 RNS:

"Fintech services contract
The Company stated in July 2019 that it had agreed a deal worth up to £1m to provide marketing and consultancy services and that the deal was subject to final documentation. As of today's date this deal has not yet been completed. The Company is in regular communication with the client about a strategic partnership, however due to cash constraints from the client's perspective caused partly by the Covid-19 pandemic the contract is likely to be materially different than originally agreed. The Company will provide a further update in due course."

B009 - How is the RNS a 'gimmick'? It clearly states a new contract award, with value of contact, and that it is already in place.
B009 - Do you know who bought the placing shares? And at what price? And what their strategy is for profitability? Why would they want to 'shift the placing shares'?
B009 - a 14% rise in share price adds how much to the MCAP of ICON?
B009 - do you think the last 6 months are a good barometer of ICON now? i.e. are patterns then a good indicator of now?

Interesting.
Let's see how the market values today's RNS.
Currently it sees the £750k as a 1-to-1 valuation - ergo, we should rise c.16%.
Over the next week, if the rise continues, the market may begin to analyse ICON and begin the re-rate process i.e. multiples (P/S; P/E; 3-yr growth rates)...

Just some musings from me...

So JOE UK was not profitable, but JOE Ireland was.
There are a lot of marketing / media businesses and consultancies that are 'lifestyle' companies and generally just do enough to survive. I wonder if ICON is going to be more hard-nosed, commercially savvy, aggressive contractually, and bring high profitability. I think David Sefton (for all his negative traits) could drive this approach.

I used to work for a small business optimisation consultancy in London. The owners were lovely people, cared about the staff, tried to have a social conscience, but ultimately failed to make their business model profitable. There was no commercially minded strategist to reign in the entrepreneurial visions of the owners. When business was good, they spent and explored crazy ideas, then when business was bad, they suffered. In the end they lost all the talent and are now a fraction of what they were.

If ICON can retain and grow the retainer style contracts, plus continue to bring in one-off contracts, the growth could be exponential. It looks like ICON could slowly take more and more services off JOE Media - and eventually maybe absorb JOE... If they can do this with TLE, Lovin', and new contracts, this could be significant.

But as some have pointed out, ICON need to start bringing in more retainer contracts themselves and not through David Sefton. I'd love to know what Katharine Lewis is bringing to the table - she had previously worked for eBay / Fremantle / Bloomberg so must have contacts...