Member Info for Skeletor

100% Justice…. Not just this board I’ll add but definitely a prime example.

We have people here who have at every price from 0.6p be bullish and shout down “derampers” aka people who have been proven right - and yet don’t have the self awareness to pipe down and feel a little sheepish for up to now being so wrong.

Fine to be wrong btw and also fine to think that this time will really be different but perhaps do these things with a little more humility and recognition on how far you are on the wrong side of the argument to date….

Just to add finally (and again you see this everywhere not just here)…. The bulls will deride the rampers should this do 60% say and go to 0.16p. But if these two factions have been entrenched in disagreement since 0.3p say then it is laughable when victory is claimed by the bull in these cases. I would need to see this in the high 0.4s before anyone tries to claim they were right backing this (other than for a trade). Even then it would be generous to give credit but shows how bad things are here that 400% is needed just to get to the mid range of where this has previously been hyped.

So 40m dollars of free cash earnt in 1 quarter when the world is falling in and the SP is bombed out… wow.

They are bullish about future pgm pricing as well.

Doubt sp will do much but it can’t remain this low forever

I suspect this has been discussed but scrolling through today and yesterday I can’t see it.

Regardless of good placing price vs bad placing price etc…. I would be more alarmed that so much of the raise has been left to an open offer that may or may not be taken…. Is it underwritten?

Do QED need £1m or £3m to fund through to next stage? I hope the former and the latter is just to pacify existing holders. If the latter then there is a big risk that all this pain is taken and still no funds.

TheTruth

I don’t think this has another placing left in it. The next method ME will use to pay his wages with be CLN’s aka death spiral finance. That will keep another year of lifestyle. It will be regular heavily discounted to Vwap and will each time smash the price lower and lower until 0.09p will seem like a dream price (just like 0.18p seems like a dream now but was actually a devastatingly discounted placing not that long ago)

“ When you know - “ you know “ ” but you didn’t know did you Citi…. Otherwise you wouldn’t have bought every single one of your shares at a higher price than today…. Most of them at multiples of today.

Agree.

I would vote for a lowering of board salaries with performance targets needing to be met in order for full salary to be got back.

Good to get it out the way quickly. Vote against and move in with no more crying from Hamoodi. I actually quite like shareholder action. Should happen more often but to get rid of the whole board without a really strong succession plan is madness. I’ll be voting against.

Morbox. That is highly unlikely due to the right amount of shares available. If they did attempt to buy back it would be for about 60% of the company (unheard of) and would also likely cause the sp re relate much higher than +11p meaning you could get your windfall either way. This is incredible news and those who sold at sub 20 need to give their head a wobble (equally, those that sold in the 50s - congratulations 👏🏼)

Phew - Hope so

Thoughts on Freetrade latest valuation - already priced in?

The 50p warrants are more of an issue than the 45p placing in my opinion. Placing is done and if not for the warrants you could imagine the SP building from here if they start getting things right (big "if"). Problem is that no matter what the company does now to increase SP there will always be the threat of 7% of current issued shares flooding the market at a breakeven price of 50p. Makes JSE uninvestable for me especially when there are plenty of other O&G bargains to be had all with seemingly more competent management than here.

They have no credibility and signing a contract with a company that I bet most investors have never heard of let alone been a customer of does not change that.

The fact the SP has already started reversing since the RNS reflects my opinion that more hot air has just been released into the air.

Exactly this deal is just so ME can keep the gravy train going a little longer. Once the granules have settled I think we will all see this is another nothing announcement that 18months ago would have spiked the SP but most are wise to this management now. The only RNS which deserves merit is the one that blows the financials out of the water....

Even with Bitso involved this still makes a really poor stock.

Jabbera - I took out a new contract with O2 the other month. No one got excited that tiny little me worth a few thousand pounds had got into bed with a billion dollar giant....

... They haven't signed up for a share of Bitso's mcap - They are just using their interface to advertise the shiny player cards that I expect are not selling particularly well otherwise.... No different to me using ebay to sell my tat.... I wouldn't RNS it though!

Warrants at 50p so the placing will be at much less and the warrants may act as a price ceiling in all but extreme positive trading. This is horrendous management. Weren’t they buying back shares in the 70-90 range? Only a few months later to sell them in the low 40s??!! How can a board that oversee that sort of management remain?? Yet they will because the 30% shareholder is the main beneficiary. Gutted for those in this who could quote reasonably have considered to be in a safe cash generating investment.

If you believe their EBIT statement then it’s a wonderful update. If you are dubious then it is a depressing RNS. Guess you all have to decide whether you trust their forecasts based on previous….

worst **** sandwich ever. nearly entirely made of ****. things are clearly dire here.

Do they have £80m more cash though? As I have mentioned on a previous thread - They have £55m of financing costs so this leaves £25m net - Although perhaps some of this was already baked in previously (i.e. not all the £55m is a new information??)

More significantly though is your turnover reassurance - I could set up a business tomorrow selling £20 notes for £10 a go and I would have a turnover in the Trillions of pounds but it would not be a good business. Profit (so should I say cash generation) is the measure to use. ASOS appear to not generate cash based on them needing to carry out placings despite having a £4bn turnover. presumably they have spent all of that annual £4bn or more on the operating costs of the business as I am not aware of any distribution back to shareholders and the money is not sitting in the bank.

If not already then when do you see them becoming a business who annually generate cash to invest/return? ASOS are not an up and coming brand yet to be discovered by would be customers - They are a mature business and it turns out the business model does not work.

I am actually quite honored to have a thread named after me although it does the job of burying the thread where I made my admittedly uneducated observation.

My post is born from having this on watchlist since huge fall last week. I then went camping with no internet and returned this morning. Only a comment on Twitter from Rampy McRampy Bottom feeder Blowster highlighted that there had been a placing…. Something that I thought had been ruled out. Obviously this led to smug relief I hadn’t invested last week but also curiosity as to whether I now should…. So caught myself up on RNS,s and bulletin board hence my original question….

Has the company really just raised £75m to then pay £55m in finance fees!!? And if so is this a shock to more hardened ASOS investors??

Finally West - in response to your operating profit postings… doesn’t this just go to show how clever us accountants are… Consistently posting profits and yet running out of cash. Tis why Free cash flow should be the go to metric here (unless you are getting huge capital growth of course - which you aren’t fyi).

Just catching up with all this after being off grid all weekend.... Hardly seems to have been mentioned except on this thread but £55m financing costs in FY23!!! Horrendous headline, anyone closer to this than me who can convince me that this is not as absurd as it seems.... Otherwise ASOS have just diluted 20%, raised £75m and are then handing over £55m in costs and keeping £20m.

Anyone thinking this price is great compared to historical prices..... Please research MADE.Com.