Member Info for pomander

Perhaps more appropriate to both your nickname and this stock is the Buffet quote ' It is only when the tide goes out do we see who is swimming with their trunks down'.

Thanks for that , but already posted last Saturday....

Agreed, I made the very same point back on the15th October......the question is, just how far will this stock will drop. I see it going to sub 10 pence, the financials are a train wreck, corporate governance is similar to snakes and ladders approach and future potential trading prospects must be diminishing given all of this. What's the rechnology worth,. I did read some time ago that the company had invested £ 70 million which only goes to highlight how bad management is. Whilst this maybe a good entry point according to some, I would like to see this view supported by something more concrete than the simple fact that it has bombed 60% in the last few weeks. it is a very sharp knife.

Oh dear snakes......this I presumably this post refers to the holding that you sold at the bottom before doubling up !!!! Personally I have reduced my holding down to 100k: this was a long term investment for me anyway

Look, the record speaks loudest, I don't have the time to waste with phantom traders, but other posters have been givena heads up on your posts now. Amongst the many posts you have made (none strangely mentioning a short position, and why would you since you believed the results were not as bad as you thought they would be) this little snippet fropm the 20/10 is hilarious . I closed my position this morning after making a healthy profit and then went long again to double my holding, which is now showing profit

You might want to check your own posts, last Tuesday you claimed to have doubled your holding to circa 250,000 shares at circa 34p. Now you miraculously sold your entire holding at circa 30 pence and made a huge profit. Oh dear Snake Hips, you have been rumbled, yet another phantom trader. Cheerio

23 October 2009 I had not realised just how bad things are at Earthport (EPO), now 30p. The balance sheet is very thin (perhaps a couple of months' overheads) as against a capitalisation of 88m shares giving, say, GBP25m. Earthport was a great white hope some years ago. But I am told that its fundamental trade is deteriorating relentlessly. It is hard to see anything much left for shareholders in the not too distant future. Astonishingly the principal basis of the buy recommendation offered by a broker in support of Earthport is the value of the tax losses. But, as anybody remotely acquainted with tax losses in practice will confirm, the losses in Earthport, although enormous, would not achieve much in reality. Further, Earthport's corporate governance is much to be doubted. For instance, it took nine months to advise the market that a GBP2m loan expected to be received in January 2009 had not in fact been received. This is highly material to any assessment of Earthport. I sold at 33p. I expect to bank virtually the lot.

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 a SELL with a 20p price target.

The phrase 'don't try to catch a falling knife' comes to mind. A poor compamy doesn't simply become a good investment when its price drops to some arbitary level.. Why the sudden excitement and rush to buy, sit back and buy on the rebound IF and when it happens. Right now this company is looking like being snapped up at sub 20 P.

Looked at EMED, inetresting, no track record but some interesting deals in the pipeline although maybe some time in the future. I think if you are going to play these stocks you need a portfolio approach unless you get lucky EPO still smelling of fish,

Speymill SDIC Huge buy to let owing 30,000 units throughout Germany. Trading at 65% discount to NAV.

Have a look at Polo Resources PRL...would seem to meet your risk appetite. Trading at just under 5 pence but NAV is 7 pence and decent prospects going forward.

GreatLand Gold, despite the wonderful name is outside my risk appetite but Redhall looks more interesting and worth a closer look. Seems to make money & results must be due fairly soon as well. Cheers

This stock hit 58p 3 weeks or so ago, so to be blunt anyone holding now got it horribly wrong. Good luck, from memory you must have over 250,000 shares in this compan at say 30 pence, that's a very decent position for a retail punter. what other stocks are you trading at present. I am in DRYS (US), SDIC (AIM) worth a look as trading at 60% discount to NAV, PVCS, GMG, LGN, TLW,ATH,VOD, Methanex (Canada), NFLX (US) Good luck to you all.

I dumped 80,000 share immediately following the Strategic Review RNS (381/2p) I have since dumped the rest 35P but unlike you I have not bought back in. Instead I was waiting for the results for some glimmers of hope. I have always made it clear that the only reason I purchased the stock was my belief that the company would get taken out. I was wrong. I am not sure why you would sell and then buy back this morning, that requires impeccable timing but well done for making a profit on this one. BenshotGunn what I would find very helpful is some substantive comment on why you beleive the company is undervalued. If it is all down to chance, probably better odds at the bookies.

I don't know where you get your rose tinted glasses from but I want a pair as I figure my wife will look like Angelina Jollie thru them. As much as I would like to, I can not agreee. Even gross margin down, equity issued during year, after year and further £ 1m loan note. It is looking like one of the many great idea businesses that never make any money and bled shareholders dry. The real disappointment for me though is 'steady progress' since year end, I was hoping for something far more positive and dynamic.....instead we get the Execuitive Chairman moving to the outside loo's. Lastly stocks fall because of company performnance not because of short positions being taken.

Keeping my fingers crossed for you, just think it they recover you could buy half the equity in AKG ! I dumped my entire holding immediately after the RNS which has turned out to be a smart move, much smarter than buying them in the first place. I would like to understand what motivates you to beleive that AKG is a decent bet.. It has made a loss for the last 5 yeras, it has balance that makes EPo look loke Vodafone and the bid offer spread is as wide as London Bridge. It is in a very difficult sector as well. . More one for Dragons Den. Clearly you are not a dentist.

Part of the RNS on 1st Sept, The Board has noted, with regret, recent negative press speculation surrounding the Company and the Review, which the Board herewith confirms is both ill informed and incorrect. Presumably they only became aware of the £2 m debt very recently. I am afraid this company is beginning to smell like a rotton fish.

I take no joy in being so negative but I fail to see why you both seem to think that the results will be better than expected. The Trading Update clearly states that revenue and profit will be below market expectations. The only saviour would be forward deals/positive announcements but I am afraid if this was the case Earthport would not have appointed advisers to sell the company under the catch all title of Strategic Review. The directors are also highly incentivised to get the share price up to £1. The £2 m write off is greater than last years turnover which itself increased 100% over the prior year. Cash generation has always been and will continue to be an issue, £ 10.6 million in new equity was raised in 2008. My reason for buying was a bid, all the necessay ingredients were in place and the signals supported that view but I turned out to be completely wrong. Perhaps the best possibility now is the re-emergence of a potential suitor at much lower prices.

Stock prices are driven by fear and greed. I think there is real fear now as to how this company is going to move forwards, there appears to be no natural floor to the share price even though some £ 70 million has been spent on its payment systems. I suspect you have a much better understanding of the business model and its potential than me and indeed Andy Brough believes it has huge potential. The risks however are now very real and it looks like without a rescuse bid that the company will need to raise further cash, most likely via a placing which will be highly dilutive. I suspect the results will be horrible, much worse than expected even after the warning and hence all the scrambling over the last 2 months. Pre results, I take the opposite view to you and that is the share price will go only one way.