Member Info for ringworm

But these only show the position 6 months ago. We should really be getting better news from SG directly. Its a very poor show. Suspension next if they are not published.

The previous share price was based on their previous dividends paid at absolutely fabulous rates based on the formula (SP = dividend x 50 ) which paid investors 2%, so for 2015 it was 7p x 50 = �3.50 clearly overvalued as their assets were only �68 Million. Following the mark down of �47 Million in stock value due to incorrect valuation of stocks, and resulting dilution to pay off a bank loan, increasing assets to �85 Million - less the �47Million written down gives us �38 Million net assets against a market cap �15 Million, so the diluted value is closer to 24p if the business has been properly turned round. BUT given that one of the new directors is a chinese investment fund manager, and the chairman appears to be a bankruptcy accountant, its still a fire sale on the assets. BUT as a trader/collector I think we can keep SG British if we can get enough shares to block takeover. So this is still a "Fire Sale" at 40%.

almost 50% of mcap as a placing .. I sold mine a month ago .. I think its too much all at once, sp will crash and it might fail .. but if they can pull it off from institutional investors, it might be a good buy afterwards at 30p or less.

Just buy £1k at a time till all the surplus shares in the market are gone, to soak up all the automatic trades, then when there is none lying around in the traders drawers, they have to go to market for them. So there was 50K in slack in the market there, so now we revalue nicely. Waiting for the doomsayers on Friday ..

Now Open for business - but you need to create a new account as old logins dont work anymore. Its with Murray Payne of Stanley Gibbons - looks good - seems like its back to business for the old dog.

its the crude maths - execution price < (Bid + Ask)/2 so it thinks its a sell.

its risen on NO Trades ..

If there was a radical change in the way that catalogue prices were reviewed, resulting in more realistic price guides, instead of SG cat price - which is mostly fiction but you could probably buy one from SG if they actually had one, and at 5% of SG cat for good used as a baseline, or 20% of SG cat for mounted mint, or 40% for unmounted, and sometimes 500% for scarce items .. The pricing could be reviewed by a combination of the "Study Circles", and paid researchers who examine auction results. OR maybe its just easier if we keep using Mayfair Retail prices as a baseline after all ...

I was just trying to incite some panic - but there are only 4 of us that read this board /// result: Spread went from 6.7 to 12.5% I probably make more money on selling stamps than I will trying to make a profit on this one for a third time ... but if we do see a short term panic sell I will probably buy more (again).

This ship is sinking ! The number of redundancies in SG group resulting in the delays in publication of this years catalogues indicates that the directors attempts at cost cutting have compromised the groups ability to continue with its core business. Their Strand (Mayfair) property is leased - and part sublet. Assets are stock which is overvalued, and IP. Debts are *HUGE* but the Interiors division may own their salerooms - hence the £8M price ticket. No News - is really not so good, and with 33 days to go before suspension ... If SP drops to a penny I might buy back in .. Good Luck and happy swimming ... watch out for SHARKS !

but where are the results ??

The first step on a long long road to profitability ..

when the new chief stepped in last year, and saw the mess which was the accounting practices he basically said to the investors - here is a rights issue at 1/6th of current price, pay up or lose the lot .. so everyone bought their quota to pay off the bank. Price fell to 10p then 8p, but the issue was still less than the dividends paid in previous 3 years, and the new auditors seem to have got wind of some degree of book cooking, so even after their £47 million mark down of asset value and disposal of liabilities, there might still be some discrepancy in the book values and actual realisations. The calculated NAV is possibly a little optimistic, but not by too much now I dont think. I would expect 13-15p on the share price by end of next month if things go OK, otherwise maybe as little as 10.5, with 9p as the bottom limit, 18p as top, so I don't think anyone will lose their shirt (again) here. People don't like losing money, and those who bought a "safe" AIM with dividends of dreams got burnt. Hence the lack of action. Once bitten twice shy ..

Used at SG - £3200 here https://www.stanleygibbons.com/stamps/great-britain/victoria/gb-1878-sg128-pl1-used-great-britain-stamps-stamps-g1120388.html Used on the wild (Corbitts) Retail £850 here http://www.corbitts.com/stampsandcoins/1867_wmk_maltese_cross_10s_greenish_grey_sg_128/detail.html?e=100a6c8ad71b6c32382f6f26d2d577165601c37e67467377607af538355e20857c05683e5362eb6e2473278a84c459f444735cfdbd75c592cde98e9172ef276d42674d9f2cde7d8b53b7ed3844562122dc3651e7738ddd90&dv=t&ds=sg&df=105 as you can see the cancel on the SG copy is better centred, lighter and more upright, and 4 times the price. If your sg128 mint is clean, bright full original gum, no creases or perf damage, then the only way you get its value is by selling at auction, auctioneers fees will eat 20% + VAT, and any buyer would hope to get it at a discount against SG book price (£60K), so I expect that an auctioneer would estimate at £12k, hoping to attract premium interest which may result in a hammer price of up to £30-40k - you should probably insure at SG book price because no-one else will have one. You will also need an RPS certificate before you can sell, which costs £75. This example illustrates the difficulty in valuing a business which has stocks of rare collectibles. The value cannot be realised without a sale at auction, and then its gone - so where is the next. Investment grade stamps are of course rare, and you wouldn't buy one just as an investment unless you expected to be able to sell at a profit. If you had plenty of spare cash and wanted one for your collection, where else would you go ??

sg128 mint which would look out of place on a stock sheet in a shoebox haha @@ that one should be in a mount on a stockcard, double wrapped in a safe .. £12K if its nice on the open market on a good day, but any damage or creasing or gum loss or blemish and its down to £600 ...

yes - I agree - the results are due this week, last year the auditor resigned, followed by resignation/removal of the entire old board of directors, causing the delay. I expect the new team will have tightened things up considerably. If exceptional items were excluded from the group accounts, then they do make a profit year on year, so I expect to see this on the books together with a reduction in debt. It would make the difference between an 11.5p and 18p share price. Generally SG stock is better quality and condition than wild stocks, and the baseline against which all others are judged, it would be hard to speculate on the value of all their stock given present market conditions - even with a comprehensive catalogue. I have sold with them, but not bought from them in the last 40 years - except for their catalogues.

I am a looter of stamp collections. I buy at auction, strip the value and sell the junk back at auction. Sometimes I sell the better material back at salerooms, mostly its put onto stock cards in a shoebox. Every now and then I sell some if I need the cash, but mostly try to sell the lower value material first. Just like I do on AIM .. Lots of healthy buys coming in here today - when there is good profit I will sell, too often I hold too long, or sell to soon ..

The debt issue is the main risk to the business, and tightening up the accounting of group business. Auction rooms who own their property are booming, so there should be no problems with profitability. Realistically if you bough SG investment with a 10 year money back - and you dont like it now, the stamps are probably worth the buyback value after 10 years anyway. Commonwealth is very strong just now - pre-1948, as is China, along with many other specialist areas. Typically prices in our top auction centres are making 5 times estimate for early commonwealth, unspoilt pre1950 collections and a few others. As you cannot buy the stamps at a good price, might as well by the dealer isntead ..

shhhhh... amazon will restock - just depends on whether they can make enough units price point is very good at £200 and it will be put into cafe's as well - curated playlist thing is also great - will be nice to see radio DJ's adding their own. AND its such a pretty box too . defo on the kids xmas list .. it has wow factor .. Time to load up again I think before price goes up again ..

how an "Investment" business can make such a huge and regular loss, yet have such massive rise in share price when a less than half owned business releases a domestic karaoke machine. but hey just follow the crowd ..