Member Info for TheToilet

It does look to be heading straight down the effing toilet at a fair rate of knots.

Still falling. Ask price now 0.05p.

0.04p bid now, spread is massive.

The balance sheet is unravelling now. The working capital deficit is up to £1.25M.
Even if they do get a placing away how much dilution and at what price?

************* have reiterated their AVOID/SELL rating. No wonder!

Had to laugh at the usual jam tomorrow in the results statement. Quite hilarious.

Interim results out. Revenues down by more than 50% and a £228,000 loss. Disgraceful.
Now do you believe me this stock has no value?

I stick by my fair value price target of zero pence. The net working capital deficit of £1M renders the shares worthless imo.

I don't understand why the share price is remaining so high.

Its baffling as to who subscribes for the placings. It simply HAs to be insiders, like employees

"The Board is of the view that the serious loss of capital does not pose any risk to the
solvency of the Company, "

ROFLOL. What solvency are they talking about? This company is always on the verge of insolvency hence the never ending series of share placings.

LOL

Section 656 of the Companies Act 2006

It has recently come to the attention of the Board that the value of the
Company's net assets has become less than half of its called-up share capital.
It is a requirement of section 656 of the Companies Act that, where the net
assets of a public company are half or less of its called-up share capital, the
directors must call a general meeting of the company to consider whether any,
and if so what, steps should be taken to deal with the situation. This is
termed a serious loss of capital.

Accordingly, the business to be conducted at the General Meeting will also
include consideration of what, if any, such steps should be taken. The Board is
of the view that the serious loss of capital does not pose any risk to the
solvency of the Company, therefore no specific measures are proposed to deal
with the serious loss of capital. Notwithstanding, the Board recognises this
technical requirement and invites Shareholders to discuss accordingly.

As a result of challenging market conditions, the existing ordinary shares of 0.1p each in the capital of the Company (the “Existing Ordinary Shares”) have, at times, traded on AIM at a price less than the nominal value of such shares. The issue of new shares at a price which is less than the current nominal value of the Existing Ordinary Shares is prohibited by the Companies Act. The Board, therefore, considers it prudent to implement the proposed share capital reorganisation (the “Share Capital Reorganisation”) in order that the market price of the ordinary shares to be created pursuant to the Share Capital Reorganisation (the “New Ordinary Shares”) becomes higher than the nominal value of the same therefore allowing the Company to raise funds by issuing further shares, should the Directors elect to do so

oh my god they've just announced a share reorganisation so they can get another share placing away at below 0.1p

SHARE PLACING AHOY!!!!

Agree with this. 0.061p is a great price for this company which we all know is barely solvent and teeters precariously from one placing to the next. You don't want to be holding these when the music stops.

The prospects are dire Yoshie. There's a never ending series of placings since the company is fundamentally unviable.
Its controlled by an offshore party which is effectively Lance O'Neill a guy which has been in position since day 1 and has presided over a near total wipeout of shareholder value.
I think there is a good chance this money pit of a company will delist.

It looks like the AGM has gone down well!

I rarely post here but I'm trying to help you not to lose money.
And I don't need the toilet just now so I won't be going there.

MediaZest – argues set for ‘much improvement’… but is it really?
By Steve Moore | Friday 27 September 2019

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from *************). I have no business relationship with any company whose stock is mentioned in this article.

Audio-visual systems for organisations-focused MediaZest (MDZ) has updated including that “two large projects set for completion in November/December… should generate significant profitability in the quarter ended 31 December 2019” and “new business enquiries in recent weeks have markedly increased and several potentially significant opportunities are being pitched in coming months”. The shares have responded currently more than 14% higher to 0.08p…

However, it expecting to build upon last year’s profit is stated “pending successful upcoming pitches” (of course, far from guaranteed) and “despite the economic environment”. Indeed, “the first half of the financial year has proved difficult against a challenging macroeconomic backdrop in the UK, felt particularly keenly in the retail sector. This has been mitigated somewhat by cost savings implemented at the beginning of 2019 and ongoing contractual revenues which continue to renew at a healthy rate”.

“Mitigated somewhat” means not wholly mitigated then and there is reliance on “the second half of the year is set to be much improved”. However, last year a half year to 30th September profit of £90k on revenue of £1.8 million developed into a full-year just £6k on revenue of £3.3 million. Now there’s been another “difficult” half but we’re asked to believe in a “much improved” second half in a “challenging” macro environment – and it can only say even that is “to build upon last year’s profit for the current financial year”.

Additionally, even that £6k profit saw a net current liabilities position slightly increased - to £0.99 million - and net assets slightly lower at £1.819 million and including £2.77 million of intangibles. As such, although “further projects for Ted Baker, LuluLemon, Pets at Home, Tiffany & Co, Kuoni, HMV and Hyundai have been completed or are in progress”, I suggest the half-year numbers will re-spark concerns here and my stance remains avoid / sell.

A ridiculous RNS. What are they saying exactly? IF the upcoming pitches go well just maybe they'll post a profit?

Placing ahoy!

Well MDZ have banked revenues from this year so last year looks better. They've nothing to look forward to.
Except a placing!