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Hi MrT. I think the lenders are over a barrel here. They can't demand money that the company doesn't have and the assets are virtually all intangibles. There's an overwhelming sense that this company has lost control of its destiny. Bird has made a series of poorly judged deals instead of remaining focused on the core prospects. The issue of billions of shares has created a massive (potential) overhang. I suspect the average downers have dug a deep pit for themselves. Lets see what the next 6 months bring. ATB
Totally bizarre (and worrying ) that a PLC needs to issue shares at rock bottom price to settle a bill of under £42k. Petty cash surely. Bird is desperately trying to buy time before everything implodes
Agricore. Good points made. Sp seems geared for a major setback. Sells showing today are actually buys (including mine)
Ultimately, if the divi IS safe then i feel the downside potential is very limited. A frustrating share but i'm inclined to buy a few more at this level to boost the ISA income.
Mr T. Yes , I noted an £86,000 spending commitment on acquisition. The fact is that anyone suggesting a sp of .05p to you a year ago would have been dismissed right?. Somebody with 35million shares 10 years ago would have owned about half the company. Today less than half of 1%. All these billions of shares go on to the balance sheet as debt (to shareholders) and create an overhang. The market knows that another issue will come at some point which is why the sp is under water and all shareholders are losing money
There seems to be an endless capacity to self delude with this company. The main focus (currently although that can change in an instant with Bird) is Hope but this business only cost £1.14 million in 2020. Yet there seems to be expectations that it will return millions in profit. If so why sell it so cheap and why has nobody bid for the whole company by the same logic? Birds mission is to keep the company ticking over to keep his fees rolling in. Remember when he took over in 2018 and claimed that Mankayan was worth $90 million? That's the fantasist leading this company. People have been talking this up as the sp has plummeted from over 70p 11 years ago. That's the reality sadly.
Ultimate desperation measure to issue huge number of shares when the sp is flat on its back. Just buying a bit more time. No wonder many have finally given up. Death by a thousand cuts but Bird wont suffer.
Results this month.
Because offices are perceived by some as the weakest sector in commercial property. It seems to be factoring in lower demand and reduced rents as leases expire. Certainly scope for a rerating if conditions hold steady and I'm holding on for now.
My (post consolidations) shares cost the equivalent of £14-43p each. Should have taken the cruise instead.
Various issues have dragged this down including adverse currency movements. The road to profitability has extended but is this business only worth £2million? I suspect it will either go bust or the sp will recover by the year end. Once again CEO failed to respond to my email for clarification. Pathetic
Sight! If you are going to post negatively (and there's plenty of scope) at least do it constructively. Not just meaningless one liners.
Yes, at this price the assets net of cash worth about £500k. I suspect they are having problems concluding the Radar and property disposals. If both happen the sp should rerate to about .45p. Tortuous.
Another accounts delay. They use meaningless expression 'on track to deliver' objectives previously stated. That track could be 100 yards or 100 miles!
Genghis. Mugs game trying to call the bottom. I'm a drip feeder. Asset value only an issue for refinancing. Supermarkets don't tend to relocate so their income stream is pretty secure.
Are supermarkets going to stop paying index linked rents? No. If you're happy with 6+ % divi (I am) stick with it . Brokers like to get people to shuffle the pack. For me it's another chance to add.
More nasty surprises around the corner? If everything is OK they should issue a statement to that effect. This stinks and it feels like some investors are salvaging as much as they can.
No reply to my latest email. Are things really as bad as the sp suggests?
toneman. The nature of the beast is to provide a sustainable dividend stream. I have bought these for income in my ISA and not too concerned about capital appreciation. Horses for courses.
It should be akin to a human giving blood. The body regenerates the blood donated . In the case of an IT its investee companies should be profitable and dividend paying to sustain it. If not management aren't doing their job.