Member Info for phenomenonnick

Yes a 0.75p a share annual dividend might help the market notice us. No distributable reserves on the balance sheet though - so we either need £4m of profit to eliminate the deficit, or we need to do a capital restructuring, which I'm guessing costs a fair bit.

Hi vbeckers, no I don't think so. I bought a handful back on 25 July on weakness and notified on same day. And I'm not talking the company down, I have some concerns about the current strategy. But what else is this forum for except having that debate? Not pointless (and baseless) ramping or deramping. Better that we share rational thoughts to help all of us reach a better informed investment decision. This stock could be great. I'm just yet to be convinced the board has it right. I don't think we should be gambling our cash reserves on ECO's drilling results, we should be using it to fund a reverse. The gamble may pay off, and of course I hope it does, but I maintain it's a gamble that I don't think we should be taking.

Hi Rusty. Thanks for that, yes I'm often the sole outside shareholder at AGMs! PIRI's on 21 August is in my diary. Call me old fashioned but I don't think the third largest shareholder should have to wait for the AGM.

Peer - as subsequent posters have said, this is potentially an attractive shell. I have similar sized investments (though a lower percentage) and I express my views privately to management. In this one despite being the third largest shareholder I have been completely ignored. I have never been ignored even 20 years ago in far larger firms when I had under a grand invested. It's an appalling way to treat shareholders. I don't think selling out is an option - I've built my stake the hard way, wading into the market whenever the price was weak. If I turn from being a buyer into a seller the share price would head south and any deal would be on worse terms for existing holders. And I don't want to sit and wait and get presented with a poor deal. I want a great deal. As a final thought, it's not inconsistent to be a buyer of a share but to be unhappy or disappointed in the present management team. Management teams change. Or can be changed. I want PIRI to succeed, and intend to continue to support it in ways that help long term holders.

Half year results out. Interesting to see how these get viewed. Probably ignored! Not inspiring - they've sold investments to raise cash to spend on running costs. Nothing to indicate they're still going to hit the previously stated goal of completing a transaction this financial year (by the end of October). It's now "the short term" which could mean anything. Cosmic.

Yeah that's me. Happy with dilution where I have confidence it's for a deal that improves the return to shareholders. I did well in Armstrong Investments when it diluted everyone down as it became EVR Holdings - a deal done some months after our illustrious chairman left that board. Just don't have any confidence based on what I've seen so far.

About 5%, I think. Until they dilute us all down with a placing we're shut out from. Significant shareholding since January. Not that the board seems to regard its significant shareholders as significant! They've never once had the courtesy to even acknowledge me. If it wasn't for the brokers I don't think my TR1's would even get read. What a shambles.

If there's a race, it's definitely more a marathon than a sprint. No-one's contacted me about my stake for instance. Feels like Paternoster have a blocking stake and aren't putting forward any ideas themselves - or if they are, they're getting blocked. I see Gunsynd bailed.

Trouble is Korg, why not just buy ECO? The PIRI wrapper is an expensive and dangerous way to get exposure when ECO is itself listed. I'm getting very fed up with PIRI.

Haha is that so?

For what it's worth I think they need to ditch this strategy of investing in lots of things. The overheads are a massive barrier to a decent return on investment when your investment portfolio is this small. Sell the listed investments, pick the best prospect from the unlisted investments, do an RTO. It's not that hard.

Really? Even if you're right, they could have bought an oil major. We know ECO won't be selling any oil this year or next. It's pure speculation. The cash gave them the ability to fund an RTO. To do an RTO they'll need to turn it back into cash, or do a placing for cash. Lawyers and accountants don't take ECO shares as payment. Hopeless BOD needs to get on with finding and executing an RTO. Patience is running out.

Am I the only one left in this wretched stock?

Anyone spot last week's comments on Pires in the RNS by 5% shareholder Gunsynd? "Gunsynd invested £56,000 in Pires in December 2016. Despite its poor investment track record, we believed that, as an investing company with a good cash balance, it constituted a potentially good opportunity for value creation via a reverse takeover. Unfortunately the board of Pires decided to instead invest in an IPO which significantly diminished their cash balances, and which we believe has had a detrimental impact on the share price. We intend to be an activist shareholder and seek to recover value for our investment." Given the need for diplomatic language about plcs that strikes me as a pretty strong statement!

The Confirmation Statement for TV Player suggests we owned 9943 shares. Based on share allotments this year the share price is £49.93, so we had just shy of a £500k investment, to which we've added further with cash at the current valuation. Be nice to see an announcement about how Simplestream itself is doing. If nothing untoward there it does feel like the Yolo share price should be at least at the 1p at which they raised the £2.5m in November.

Sadly a dividend isn't legal without a capital restructuring. Disappointing not to get news of one, which would have created the option open of either a dividend or a buyback or both.

Aren't the running costs north of £300k a year? Gotta be running on fumes! Which is another reason to be unimpressed by this investment.

I don't see that - the iPod couldn't be updated into the iPod Nano and no-one minded. This is a different product, sounds like a Pure Radio which is internet rather than DAB. The first product was to plug into the TV. This gives them a product for the living room and a product for the kitchen. Offer one annual subscription for both products and this starts to look like great value. Could well get people building up the ecosystem, like Sonos or Apple.

Good find! Presumably they'll need a fundraise. Wonder if a reverse into YOLO is on the cards?

I've added 1m today, we're back at levels where we were when I felt the market was pricing in the Electric Jukebox loan being worthless. Now we know that it has at least not been a disaster and there's likely to be value there. A market cap of £3.2m does seem incredibly low. Hence I was happy to add at these levels.