Member Info for RichTheNewbie

Well just to cheer you up I'll put a Strong Sell then as I think you'd be nuts to rush to buy this straight away when or if it resumes trading ;) Hope that helps!:p

Well the relevant law states: "Where an auditor of an unquoted company ceases for any reason to hold office, he must deposit at the company's registered office a statement of the circumstances connected with his ceasing to hold office, unless he considers that there are no circumstances in connection with his ceasing to hold office that need to be brought to the attention of members or creditors of the company." So BDO, in accordance with that, felt people should know: "The Directors asked us to resign as group auditors following our inability to agree a mutually acceptable audit scope in relation to our involvement in the work of component auditors, needed to obtain sufficient appropriate audit evidence on which to base the audit opinion on the group financial statements" Not sure how you can interpret that any other way than BDO saying they wanted to audit the parts that make up Globo but weren't allowed to do so and had to resign as a result. They have two options when they resign - give a statement to the company saying members and creditors need to know why they quit or give a statement to the company saying there's no reason. I personally don't think it's a good sign they chose the former!

Or maybe it's the company's fault and they're a bag of dung......it's hardly vile mud slinging if it's true! Guess time will tell. Obviously in the short term they'll deny it.

I use shorts as well as longs. So yes I'm "a shorter" and a "longer" too if you like. It's not a term of abuse despite what you might think ;)

Being bullied by shorters doesn't make it an easy target. That makes no sense. You talk as if shorters are to blame. What company would you pick to short? One that you thought was excellent and easy to defend and will stand up to scrutiny or one that you thought the opposite about? I'm guessing you're paying EK a compliment by saying it's no surprise his name is at the top of the report as having spotted it first! I'd not been following this much until recently when I took a vague interested and bit of a punt (after a friend tipped it) and bought+sold for some profit. So I hadn't seen the rather big red flag highlighted in this report today where it highlights the document on the Globo website showing the resignation of their auditors BDO. Doesn't look good to me!

Why would they pick a stock that's clean as a whistle to attack!? You're telling me out of all the companies on AIM they decide to pick a good solid company to attack and couldn't find a bad one!?

Imho he's largely a shock jock but to be fair he's fronted up putting his neck on the line a number of times with his statements so I give him a little credit for that I guess. I often think he is more riding on the coat tails of others. In this case it would appear to be LM.

Time to get a train. Please ensure this is at 35p when I next check back in ;)

That just sounds like a copy of the Winnifroth site articles. They've not really got any points of substance. It's just smoke and mirrors scaremongering imho. Of course there's always the chance they're right but I wouldn't bet on that! I don't really buy the whole access to cash stuff either. Might be worth sending Globo a copy of their articles and getting them to dispel the rumours in black and white (though that always runs the risk of promoting scare stories by responding to them). In terms of using the 80m.....maybe the acquisition costs 120m euros. They obviously wouldn't want to use all of their cash reserves either and retain significant amounts as both a safety net and possibly progress any acquisition. Could be many things.

If the numbers published aren't diddled in any way I don't think their FCF is that weak. I think Winnifroth and his shorty cronies are wrong on that. €7.2 million FCF for H1 up from €4.2 million in the previous year. That's probably likely to be over €10 million for the year. So you could be looking at £7/8/9m free cash flow....... As for the bond, I think as a shareholder it's far more preferable to issue a bond, rather than be diluted. Makes sense to me..... The amount seems like a lot but then they've done pretty well so far so who am I to doubt it (without knowing more! ;)

There's always lots of ways of looking at those sort of things. Every trade is a buy and a sell effectively. So if it's gone through for hardly any discount (as it did) then you could argue market makers were desperate to gobble up a large number of these shares, or someone else was happy to buy that large amount, or it's some kind of transfer. Or you could argue that if it was the market makers that took all that stock (would seem strange surely) they'd have to be very confident they could offload it for more (therefore the price would rise not fall). Many sides to the coin.

I think far too much has been made of this junk bond stuff from what I can see. Even the name itself sounds very negative when it's really not. A bond from an AIM tech company is hardly going to be classed as low risk is it! Therefore it's no surprise it falls into the category of "junk" bond.....

We get it. You made a mistake and sold out. There's no need to sit here posting rather blatant scaremonger attempts every 2 minutes. It's rather tiresome.

Little shakeout there but bouncing back now.

Nice try. ;) The shorts were obviously closing out in the past couple of days. Think you need to quadruple your price target :p

Motley fool still tipping this: http://www.fool.co.uk/investing/2015/09/16/why-have-glencore-plc-globo-plc-tern-plc-been-so-volatile-in-recent-days/

I think it'll be a nightmare if labour do win. Sadly I think they actually have a decent chance in the next election, whatever their leader, and people also shouldn't underestimate how many drongos will vote for Corbyn.

It doesn't but he has a strong focus on the accounts/numbers/financials nothing more or less.

A friend of mine just tipped this to me (who's a good accountant) and it looks decent enough for me to take a punt on so I've joined you all today. So hi ;)

Well I've bought in today ;)