Member Info for Roharps

It is very exciting to invest in this company. Not just about investing for profit )though I think there will be profit in the future), its good to be a part of something like this that is interesting.

Innovation is quite often about connecting an existing product with new technology to make it better. Masks are very much being talked about right now but this will have more useful and practical applications. The virus when gone will make us more conscious about other viruses and there will be a market for anti viral and anti bac products.

If the company can generate cash in the future, then other nano technology innovations becomes possible with reinvestment. Pretty exciting but I will try not to get ahead of myself I know alot has to happen first

Had to sell out at a loss. Only bought in today. Someone said they thought there would be news today.
Head in hands - why do I listen to these boards?

Not just Covid 19 but can be used for other viruses. topped up at 2.10. feel a bit better now averaged down

Looks like it is going to be monumental challenge getting the vaccine out. Need super cold vaccine fridges everywhere and there are parts of the world that will need PPE for a very long time to come. If this can get to market soon I see a lot of orders.

well MCAP is just 32 M so whilst I hold the title of highest price paid for shares today ill stick around see what happens.
GLA

I hope you are right about these going back to 6 p - I just paid 2.65p for alot of stock

:-0

Positives are that covid 19 vaccine is here... So that will give certainty in being able to restart lending without payment holidays being an issue. Also means more people with jobs to service new loans. It means more people going on special holidays which was a main driver of loans business. Basically sp has been slow to react to this news compared to others shares.
Company can also learn from the procedures of the past which have lead to complaints and be better because of that.

Negative points are brand damage as media using words like controversial... Anger... And miselling which I don't think is entirely fair as amigo gives credit to those that want to rebuild credit record and to those who can't get lending else where. No one knows exactly how many will have grounds for complaint. Basically it's not everyone but anyone who had trouble repaying it seems and there are alot of claims management companies sniffing around. the more complaints they get the more experienced they get with dealing with them. We don't really know how many loans went smoothly to repayment and how many did not so have no idea how many complaints will come in before the company can resume business as normal.

My thoughts are that in the event of complaints depleting it's reserves completely it would likely go bust with only bond holder receiving part of capital back. And shareholders would receive nothing. But if amigo gets through it and has enough to pay out all compo I can see it being worth hundred of millions of pounds again. So it's a bet basically.

I think they will scrape through and become valuable again. But I could easily be wrong. As An investor here you must be prepared to lose everything if it goes wrong in the hope of mega gains.

I have lost thousands and thousands on paper.
But see some glimmers of hope. The deadline was reached pretty much So put them in better position with FCA.

I have confidence in the management. They have done the right thing by reporting the claims management companies to fca and will come out fighting. Also there is still capital to come back from loans made in the past Albeit at a lower amount... Further cash will be generated.

I am super happy with the staff. They have worked really hard.

We also know the position in terms of numbers of complaints which removes the uncertainty.

I do wish board would provide exact number of complaints though outstanding

The answer is most people who had any difficulty repaying will now make a claim owing to the fact that claims companies are becoming predatory. It is an absolute snowball affect and I don't think it's fair. Many lied to get credit and now the blame is falling on amigo becuase they took their word for it.

The FCA has recognised that things are getting out of control and taken a precautionary measure to restrict cash. In other words they see a risk of amigo falling out of existence if the snowball continues to roll on.

I'm not selling simply because I think most people taking out loans would have been decent and met payments in full without problems and therefore with no right to complain

Amigo have put aside 115 million to pay for misold loans. Claims companies have seen that there is a 94% uphold rate by fos and an average 4500 a claim being paid to people who claimed miselling and thought... That is big enough to make money from a cut.

They know that 220000 different individuals took out loans since 2005 at 3 quarters of a billion quid and that is alot of people they can get fees out of. They have put adverts advertising basically saying ... An opportunity has arisen to complain and get loads of money. They are happy to write the letter in exactly the way to get compensation.

Here is the thing. People are getting paid out when they lied on their application becuase amigo 'should have. Picked this up'

Claims companies are putting ideas into people's minds that people underestimated expenditure due to guesswork. Maybe true sometimes but more often then not probably lies which they say afterwards was accidental.

I am very concerned that Amigo is getting attacked sometimes fraudulently by claims and I hope the regulator see this side of things. As a shareholder I want those genuinely misold to be redressed but I do not want these opportunists unjustifiably running this business into the ground.

If amigo survive all this. They will come back much stronger I'm sure with a much better process of lending.

You say that but so far employment has been really quite resilient and seems to be affecting 18 to 24s most. Am I right in saying that average loans customer tends to be older than that age bracket?

I am feeling much more optimistic about Amigo after watching that video. He Seems like a good guy.

I know I said I would not look at this again until Xmas but I have and I really can't see why on earth is this down down down? They are going to start lending again and have basically said they have enough cash because bod has been keeping it back. Markets are up since 21 Sept. Takeover can't be ruled out. Puzzling. Is it because of confidence because bod is not producing numbers or measures or releasing good news?

would this work? he would have to buy only shares from people that would vote for the current board or did not vote at all. Does not seem practical or guaranteed to work.

Did Glen antipate JB getting in and is that why he stepped down so as not to make a scene. If so he may be regretting it.

If 70% of shareholders did not participate in voting. That says to me They do not care who manages the company and in it on the wider long term play. If you strongly supported JB and did not vote and you are sad. You only have your self to blame though

So the current management actions appear to have reduced risk of worse case scenario which was insolvancy. Now they have the vote Management can now focus on company issues and complaints instead of worrying about their job and the company at large being disrupted by change.

Pressure was taken off business. Cash balance is adequate. Jb whilst not buying back in can't sell anymore shares and possibly supporters of the board will top up and mop up

The risks I can see are the loan defaults and complaints compensation. But there is cash there and board seem more confident now give they will even consider lending more. They have released a statement of willingness to resolve issues.

I have topped up sub 10 today to Bring down Average. I am now way more exposed to amigo then I should be but hopefully right decision.
I think I would have preferred JB but I don't think it was critical to have him in charge like some do and it would have been a faff.

There is a small probability of JB launching a hostile take bid for Amigo if the sp was low enough which will also lend support to sp in short term.

Position continues to improve as far as I can see.

I could be wrong but I reckon this will be worth much more in the future. GL

Will the holders that voted for the board now be loading up.??

This result must be a fix surely