Member Info for smudgedan

Hope all is well with you. Not much happening on any of my holdings at the moment. Perhaps they will all come to life at once!

Hi mate, hope you are ok. Apparently IS went to another evening in December and speaks to TW semi regularly, he also knows the Darwin guy. I don't think there was any agenda.

SER got a brief mention from Lenigas saying that he phoned Dan Levi congratulating him on his move to the dark side! That was about it. The primary bid thing was very interesting. Adam Reynolds was in the audience and asked a question about that.

I think probably the next move here is to find out as much about this PPP product as possible to determine whether or not it is the game changing product they are suggesting. In fairness to Ivan I am not convinced he really knows the mechanics of it and couldn't categorically confirm that Merico are the only company offering it (although he thought they were).

I was thinking about that on the way home. On the plus side, the market cap is still tiny and they have some fairly shrewd shareholders on board. Lenigas mentioned that he bought in because of somebody called "Potts" who he thinks is very smart and holds 9% (presumably under one of the nominee accounts). Also if PPP takes off then Merico have first mover advantage and it could be big. On the negative side, I just don't know enough about PPP (always stood for **** poor performance as far a I was concerned) and if it doesn't take off then INC don't appear to have much of a back up. So in a long winded answer to a straightforward question, as a holder I am happy with what I have. If I didn't hold I would probably buy in.

Well he had quite a bit to say, but wasn't giving anything away about WSG. I did try a little gentle probing but he was having none of it!

I think they are feeling their way through the process (bearing in mind this is the first deal) and I think would struggle to offer a definitive timeframe. Ivan mentioned that he regretted mentioning the first contract early on due the resultant expectation amongst PI's and subsequent phone calls he has received on a regular basis since. Probably similar to Peter Fowler at WSG, which is slightly ironic as I was sitting next to Ian Selby this evening. For the record he didn't seem keen on INC!

Just returning now from the evening which was very good indeed. The most fascinating part for me wasn't INC but the guy who runs Darwin talking about primary bid, who could be pretty revolutionary, but that is another story... Made a few notes regarding INC below, apologies for the scrambled content but writing them up as I took them: INC have some ownership in Merico Financial (level wasn't disclosed but probably in an RNS somewhere) According to Ivan Couchman Merico are the only company currently offering a new financial product called the Principle Protection Program (PPP) which is a guaranteed life insurance product. INC are acting as a service provider for this product, earning fees and commissions for administrative and checking services. (Like the contract announced in November) Merico are planning to list on the Canadian stock exchange at some point this year. PPP is a version of a senior life settlement policy (SLSP) which has a target market of high net worth individuals aged 84 or over and with a 5 year minimum period. The plan is that in addition to the administrative work, INC will also place reinsurance to these life policies into Lloyd's or other major international insurers and have lined up a $500m reinsurance facility for this. INC plan to become FCA regulated ( this at some point would enable them to potentially launch PPP in Europe ( quite a long way off I think though) Ivan is still confident that he will see further contracts in q1. The presentation should be on the Shareprophets website shortly. Annual running costs estimated at £250k. He thinks that the $30m deal announced could be the tip of the iceberg and his hope is to see 10 contracts this year. It seems that Merico has first mover advantage, so they really need to capitalise on that. David Lenigas owns 2.99%. To summarise, this is really a play on how successful Merico are in selling this PPP product. Ivan didn't think there was anybody else offering it currently, but I need to try to find that out. Ivan seems to be a decent, honest guy, albeit that he didn't really seem to know every facet of the business. Apologies this was written in a bit of a rush but should give you a flavour of the evening.

Cheers, been pruning a few dogs to free up some cash. Now have a decent aqmount in here, so hopefully Rashida will be true to her word!

a top up at this level.

No problem, will certainly be interesting to hear more about the company and the scope of the potential.

Thanks,Yep, perhaps they are small and nimble enough to pick up the scraps from the big boys plates and offer a service that they just can't be bothered with as the revenues don't run into the millions. Hope to have a better idea tomorrow.

I also like the low cost base, directors being paid mainly in share, so should be fully funded now and the £43m of losses that can be used against tax, increasing the margin. Clearly been an utter dog in the past, but the green shoots are there and I have a good feeling about this one, which I hope is confirmed tomorrow evening.

Tomorrow evening will certainly be interesting: MC still tiny, so any contract wins will result in a spike. Paragraph from the Shareprophets tip from early January: How many contracts and of what size will Insetco secure? That is the question but the last sentence of the 26 November release plus our conversations with management lead us to expect a string of orders in Q1 2015 and that should put flesh on the bones of forecasts. Some supporters reckon annual profits could well exceed £1 million within a year or so. On a PE of ten that would imply a share price of 0.7p. That may be ambitious but we do expect contract wins in Q1 to drive a material re-rating.

yes, i think you were right. Still watching though.

I normally stick to one or the other but with DQE there seems little interest on either board! Anyway a few buys today, so hopefully that will continue and we get a trading update too. Regarding INC I am going on Monday, although they only have A 20 minute slot so probably not enough! Sentiment seems to be there, just need the LN holders to stop selling in to the rise!

Somebody picked up a few cheapies in to the close. Well done to whoever that was. Had earmarked a few myself but need a couple of others to deliver first, namely R4E, INC and AEO for starters.

Over £9k earlier on today. Keep em coming.

Thanks, I will reinforce the point that the company needs to update investors on the receivable collections on a regular basis. Looking to add further here when funds allow. ATB

Received the following response from the company: Thank you for your email and your keen interest in the Company. Apologies for the delayed response. The recent fund raising has definitely given a boost to all our pending projects and we hope that a number of new projects will get on the floor in the next 6 to 9 months. We also are disturbed about the share price movement since the past few weeks and have been interacting with our Nomads to find the reason for the same. According to them, the investors are of the view that the Company shall de-list the shares, ( which will happen only if there is a liquidity event such as a NASDAQ Listing or a strategic sale) and hence they would not want to hold stock of a de-listed entity. The view is surely incorrect as the objective is to give enhanced value to all investors by moving to the NASDAQ exchange. Debtors also is an issue, but the Company is aggressively working on the same and we hope to collect old outstanding in the next couple of months. Already the inflows from the old debtors have started flowing in. With kind regards Rashida