Member Info for pomander

Just re-affirms my view on this stock. I been warning for weeks now, ever since the Strategic Review failed to find a mug rescue buyer. Directors renumeration doubling as a company reports its worst ever year is always a 'dead' giveaway. Get as much out before the final rights. I think I would listen to the auditors on this one, this company is dead from a financial viewpoint., reports qualified on all fronts......not nice. It will soon end up in the hands of the debt providers and they will sell on the technology (acquired for around £1m) or another company will energe from the ashes and I wonder whom the management will consist off ! I am always surprised by investors, they moan like crazy when this happens again and again in the small company arena but go into complete denial when warned in advance. A special product beomes a company of crooks. Already I have been accused of being 3 other persons, being a disgruntled employee, having an agenda...........wake up you dummies you are being fleeced in front of your very own eyes. Opened a short position( rare for me) this morning fully expecting shareholders to wiped out entirely on this one.

I have to be careful how I respond or I get with both barrels from the Phantom and his mate. Thanks for posting the link, I was rather hoping for its contents to be a little more exciting and substantive to really make a future short position more interesting. Instead after 10 yeras and £ 70 million of wasted cash the company has a 119 exchange bureau's/outlet's from which money can be transferred. There's probably that many on Oxford Street and nearby. Sounds like a modern day Western Union for migrant workers sending money home. To make this work, massive volume is need..........I

Fortunately, having qualified as a Chartered Accountant many years ago I do not need to pay £ 10 to collect the last three years accounts and calculate a few key ratios before reaching the conclusion that the company is a dog. Besides this information is all readily available in the public domain and is used by gullible punters. THE PHRASE> THE ONLY MISTAKE I MADE WAS LISTENING TO THE EXPERTS comes to mind. In so far as any other information gained from management directly by the author is concerned, given managements track record I would suggest that it would be highly unreliable. Lastly, interesting link since the Lex Coloumn in the FT had a major beef with the company for being evasive, unhelpful and leaving shareholders in the dark Like many others they beleived this company was best avoided. I will trade it agin, but I will wait until any upward momentum left dries up completely and then take a short position in the hope of making loads of money like the Phantom.......my hero.

Oh dear Benny Boy, there was me thinking that you might be a decent type unlike your mate the Phantom. If these Boards are not for posting facts to support opinions both positive or negative what the hell are you doing even looking at them. Look, I can assure you that whatever I pos itt has absuletly no effcet whatsoever on the share price. If you feel an agenda could be served via this tiniest of Boards you are seriously mistaken. The fact is , you haven't got the first clue why this a good investment, you probably bought it because it has fallen so far or you follow the sort of nonsense espoused by the Phantom. And that is exactly why I continued t post after the RNS . As far as posting is concerned generally, you should know that there are 3 positions, long, short, neutral. Come on, spare us some of your time and let us know why this is a good investment.

Good post- apparently I am impersonating you, and you are turn, are Evil in disguise and we are all going to get 'band' again. Looks like Pomander aka paul_milkman aka Evil Knievil has slipped up and shown his true colors (your not related to Maximumlooooser by any chance are you, coz if you are you are likely to get band again). I have asked BenGunn and others to expalin exactly why this is a good investment but there is a deafening silence. As for our Phantom friend, he needs to go back to the Opera and pull his shorts up on the way.

I am sure that BeGunn can speak for himslef. It aways makes me smile when phantoms like you refer to filters and then go look for dirt and reach a conclusion that as this is the only Board that I post on that I must have an agenda. It is pathetic. There are thousands of boards over hundreds of patforms, go to ADVN borad, they are not too keen on EPO. As I have a lot of Nasdaq holdings currently partic in the Dry Bulk Arena the LSC.co.uk platform is hardly any use. You really should stop playing at Cracker , reading Enid Blyton and spouting absolute nonsense.. Now run along Phantom, your aftrenoon tea is ready and don't forget to pull your shorts up !!!!!!!!!!!!

Now that I answered you, perhaps you would explain why to me, and others on this board exactly why this company is a good investment.

Let me explain. I started buying this stock during the Strategic Review period. My view, based upon the evidence, insitutional buying, press reports etc was that a takeover was a good possibilty. I held 85,000 shares which I sold immediately atter the RNS announcement. I took a £ 5k loss somewhat lowered by some earleir trading in and out of the stock. My view is that this a poorly run company with weak management and a product which clearly is not as special as everyone believes or the company would not be in this mess. Had it not been for a an emergency loan ( and nobody here knows the terms & convenants) this company would be bankrupt. If this company had such a special product it would be snapped up by a much larger company. Microsoft, although not in this sector buys arond 10 to 20 small companies almost every month. You keep referring to rumour, look, I do not deal in rumour, the facts are clear, have you actaully reviewed the financial accounts and looked at the margins. Directorsshare options at £ 1 was a pipe dream. Shorting these type of stocks is both difficult, expensive and risky and is not part of my trading startegy. Minor setbacks, fine, if that's your view on a company that has burnt through £ 70m and seen its share loose 75% of value during one of the strongest bull runs in history, then we will never see eye to eye as our trading startegies or at odds.

Our Phantom trader, Snakes and ladders has clearly been playing too much Cluedo, perhaps it was the Evil Milkman in the library with the candlestick. Apologies for my grammar, I doff my cap to your greater experience in the world of secretary's.....perhaps it was the milkman. Keep racking up those phantom profits.

Looks as though the recent bounce is most likely due to the fact that the company secured a £1m loan just as the market was beginning to price in bankruptcy. Most stocks bounce on the news of a re-financing as the alternative is far worse for equity holders. As for our phantom trader, Snake Hips, his comments show again exactly why he is just that. The loan note provider would be a preferred creditor, and as such £1m for the technolgy would be a very sweet deal. I would like to see the loan covenants. No doubt he will tell us how it shorted all the way to 19 p before buyting a bucket load which he sold today just before the stock turned down again. Come on phantom trader, do tell all on this board why this is a money maker, since I suspect that the vast majority of investors that have held this stock recently have done nothing but loose money, apart from you of course? Answer on a postcard please. I agree with the sentiment, thius company is being run to protect the managements best interests and little reagrd has been shown to shareholders. It is about time Mr. Brough swung his axe. Come on phantom trader, tell

Possible suitor re-visiting at half the price.

Whilst I agree that this is a fundamentally solid company and a good long term investment, making decisions based upon the Mail on Sunda,y and I guess you are referring to Midas and Andy Brough of Schroders is flawed. A good recent example is Earthport, they do pick a lot of stocks so just by the laws of averages and given that we have been on one of biggest bull runs in history since March they will pick some winners. I think HSBC iniatiating coverage with a £1.2 price target was probably more telling. Anyway lets hope after filling our boots again it will rebound strongly.

It's not based upon rumour, read the financial statements,read the RNS, the company has been signing contracts for the last 2 years, that's is more concerning that having no contracts as they have not produced any profits for the company. The IBM deal was signed before all these problems come to light, and if you truly believe that IBM has never signed a deal with a company that has gone bankrupt or failed to deliver I think you are living in cuckoo land. Look, I hope this company turns around but right now the facts (not rumours) speak loudest and the the share price simply reflects those facts. Good to see it up today amongst all the carnage, but the trend remains firmly in place.

I think the case for being pessimistic is on reord and well documented with the outcome of events over the last few weeks. I am more than happy to be optimistic but that optimism needs to be based on something concrete. Right now the only reason I am hearing for the share goiing up is the fact that it has fallen so far. I would suggest that it has fallen so far because its financial position is precarious and its future trading prospects look far weaker now.

sell to hold, price target 20 pence in case you were wondreing

That is a link to an out of date colour chart. As I asked before, who are 3 brokers that have a buy recommendation and when were these made. Below is an up to date brokers recommendation, starngely it does not feature in your colour chart. Hoodless Brennan Earthport (EPO, 30p, £26.55m) Finals to June 2009 saw revenues decline to £1.57m (£1.92m) with an increase in reported losses to £7.3m (loss £3.38m), though excluding one-offs the loss reported was £4.52m (£3.03m). The losses were worse than market expectations. The group ended the year with net cash of £0.18m (£2.55m) and raised £2.88m during the year, thus consuming £5.26m cash. More worrying is the H1:H2 splits with revenues falling £1.12m:£0.45m and losses increasing loss £1.72m:£2.8m. Surprisingly the board now states that “the Company has sufficient resources to continue to develop the business to its full potential”, not apparent from the outside. Given the scale of the opportunity and the financial weakness of the group it is understandable that the company has been executing a “strategic review” for some time. Underlying transaction volumes grew 50%. A number of relationships should help this year, such as IBM and Lloyds/TSB, but we believe the shares are fundamentally overvalued and, with a negative NAV of £0.13m (+ve NAV £1.80m) there is every likelihood of an equity funding. Move from Hold to

One other thing, perhaps you would be kind enough for all those using this board to provide the link to the broker recommendation to which you refer with name and date. Cheers

Imagine a housebroker with a 88 pence price target. Look, if management don't know what is going on, how do you expect a broker to have a clue. They are pretty useless most of the time anyway or we would all be cruising the Med. But I agree you certainly need a whole of imagination to see this stock going up. It started smelling of rotton fish after the Strategic Review aka distressed search for a buyer collapsed and has stunk more ever since.

A simple CFD will do the trick. The 3 broker buy recommendations I would suggest are out of date, on many sites they are only updated periodically as and when new brokers notes are issued. I can't imagine how any boker could recommend this stock at the moment.

Good theory but way off base. Firstly, large trades would have to be subject to RNS announcement. I am sure he will short thru CFD's as apposed to borrowing stock to sell, naked shorting is now illegal. The reality is that short positions do not drive down stocks, the financial performance creates the opprtunity to short a stock, it is nothing more than the mirror image of going long. I suspect the end game for this company will be the normal outcome for the equity holders. They will be wiped out as control is passed to the debt holders as convenants are breached. That time may well be approaching. You can't go on losing money forever, just ask Snake Hips