Member Info for shamI89

As usual this has turned into usual ramping/deramping sh&t.Looks like some people have taken heavy positions just before results and cant accept the reality. Asos was on paper thin margins and only sustained profitability through increasing revenue.However rising fuel costs and other macro factors led to rising costs and inflation. Once revenue started falling lenders started getting worried and in ny opinion these talks have been going on for sometime. Right now company can wait for things to improve and do nothing about balance sheet or can strengthen balance sheet and wait for things to improve. Carillion and Debenhams would be two best examples to look at where eroding profit margins wreaked havoc to balance sheet and took these companies down. One thing is for sure shorters had this information beforehand and have made a killing.

#Asos has stated that it has strong liquidity" try telling this to lender and do let me know what is restructuring all about.

Looks like shorters had this information before hand and that is why they kept on increasing shorts. Secondly a delay in results had nothing to do with Queen's funeral company was negotiating with lenders. Company would need to make a statement regarding this !

do think it will survive however £29 million profit on 4 billion revenue is nothing and that shows that it is on paper thin margins.A small change and company could be loss-making.Recession is likely to change people's spending habits and that would affect Asos.In my opinion lenders want to see recapitalisation before granting an extension. Alernatively Asos would need to increase revenue while cutting the costs down which seems highly unlikely in this environment.

Does not tend to bode well for shareholders, looks like lenders want these to raise money through rights issue before agreeing to any extension.

those already in would have no choice but to take part in placing.As I said it is predictable as rest assured that this company would raise money in not so distant future.In today's world of cheap internet and free content availability who is mad enough to pay for a service like this.

has been surviving on placings since it started trading, it is plain and simple announce a "contract " after a month or two to sucker in mug punters and then raise on the back of it:rinse and repeat.

it looks like profitability could be affected too and company wont be profitable this year or next year.

problem is what issues do you think auditors have problem with? they have to be revenue recognition, stock and profit and all of these could affect revenue/debt. Company is already in the breach of covenants, but revenue/profit can lead to balooning debt and at that point banks would want to see some sort of balance sheet strengthening.

Dont think I will believe a word bod says as we had three rns, in first Rns they said they have found some irregularities but wont affect Profit revenue and results will be published on time, in second RNS we got told that auditing process is taking longer and company wont be able to publish its results on time.In third Rns we got told that shares would be suspended from trading and results would be published in matter of weeks.In last RNS we got told that auditor is not satisfied and an independent comitte would be formed to verify some issues raised and that can take months. It looks like issues highlighted are not " minor issues" that we are led to believe!

how these accounting irregularities affect debt and I hope they are not in breach of banking convenants as that would be a disaster. At the mintue there are three likely scenarios, accounting irregularities are minor and wont affect debt/revenue/ profit highly unlikely as it wont have taken them months to have these investigated. Profit has decreased and debt has increased, banks are willing to support company but want it to strengthen its balance sheet via placing.Third scenario is that debt has balooned and banks want to wipe out/ heavily dilute existing shareholders.

next week and hopefully would get some figures to gain clarity. Inflation was going to take its toll and in that sort of situation people tend to cut back on non-essentials but boohoo has been hit hard. Amazingly shorters are not reducing shorts and I have hardly seen them going wrong.

I did warn people of "nasty surprises" .At the mintue company is in breach of its loan agreements and in my opinion historic practises could affect revenue and debt.Not looking good here as you dont spend months auditing company's accounts if there is nothing major.

what if your creditors dont pay you, I am sure that some bad debts have been included in this figgure.Please tell me how many times that "unused overfdraft facility" has been used in past five years as I PF mentioned them in 2017.Since than there must be 7 or 8 placings. Whatever way you look at it, there is not much money left and a placing is imminent.

These forecsts mean nothing .We had a broker note of 19p per share forecast last year, rest is history.......

Good question, I have gone through their accounts and as per last year their adminisration costs were 5 million.As far as cash balance is concerned at the end of June it was £195000 and three months have passed since then.It is there in official updates if you can be bothered to read.As far as revenue forecast is concerned we had an update no so long ago and revenue for first 6 months was 4 millions

you make me laugh 14 millions! as per PF's own admission it is nearly half than that .May I suggest that before you make this sort of bull**** go through updates. These bbs are full of investors who are nursing 50/60/70/80/90% losses and common denominator among them is they chose to ignore fundamentals and thought that musical chair would never stop. As I said that company is down to its last 100k and needs 5 millions to cover administration costs.

million dollars question is where are they going to get 5 million from? you guessed it right! placing or death spiral loans, both of these options are as bad as each other.I am surprised that PF has let things get this far.

Blown "pump and dump" by usual suspects .Cash balance is down to £100k and company needs 5 millions to cover administration costs.Dont be left holding the baby as placing is nailed on/

As these sort of meetings take place after results release and they should have released a rns to deny this. However looks like journalists are right and in a tpugh environment like this it £20 million can evaporate and this company can go from profitable to loss-making within a blink of an eye.