Member Info for Thunder2040

Buying opportunity here. Nothing changed with fundamentals.

Scattergun approach. Only thing he could do was calculate dilution correctly unlike Andy P..Who I am convinced had an agenda on here.

Haha. Seer. My thoughts exactly.

Hydraides are you sure you are looking for an investment...sounds like you need a payday loan

Only investor that a dip is hurting here is people trading on margin who can't swallow normal stock volatility. That update was par for the course. The fact that catcher is up to 60k is the takeaway news headline there..no real news apart from that.

RNS states Q1 cash neutral. Debt is only going to be paid down with surplus cashflow. As also stated in RNS capex was weighted in H1 and timing of sale proceeds have explained this. Just sit tight, the RNS is bang on, H2 will be when the debt starts to fall.

2 things that put me off Enquest: They didn't get a refinance done like pmo or tullow. They also produce heavy crude...which I just think has a more limited market. There has to be a reason that share prive is not rerating like the others. PMO with catcher and Zama / Sea lion pipeline is a different proposition.

I think Cristalbell has given some good insight into the financial statements. Just because people have a different or more balanced view of the stock doesn't make them short Richin. Wind your neck in and get serious here. The CEO and founder is an alleged fraudster - if that doesn't signal a possible deeper issue to you may as well go throw your cash on a bonfire. I invested pre the CEO announcement on the back of the results expecting some bounce due to what I thought was a decent growth play in an expanding market - the confirmation of the latest revelation has tipped the risk reward premium over a cliff for me and I am out. i held whilst they investigated hoping it was just conjecture - the fact that he has now gone has shocked me and I have seen more than enough here. Good look if you stay invested from one private investor to another, with no agenda!

Don't call me out. I think getting out of this in light of recent developments is the right call. Nothing to do with shorts.

Part of investment is knowing when to walk away. We love to fight another day.

Position liquidated at acceptable loss, this is too risky! Glad to be offered over a pound this morning. GL all.

The news has broken on ft. I am very concerned by this development, the market is going to smash this tomorrow and I hate to say it but I can see a race to the bottom.

A-2-b. Thanks for that insight. Always interested to here about a true investors sentiment. I conducted some analysis of the stats after the story broke to try and assess the merit of the claims that there could be something wrong with the accounting. The two elements of the balance sheet I see risk on are the trade recs and intangibles, the key assets really, both material. The average debtor days are circa 87 days, so there are not really issues I can see in this respect. Intangibles will have been tested for impairment under IAS 38, in a tech co. Such as this we expect the balance to be large. This is based on an assumption the audit report is worth the paper it's written on. The Italy R&D grants are a slight unknown. I take some assurance from the point you made re: O.K not being in finance position. If the numbers of this business are sound the dealings of the CEO are of no concern, he should be replaceable if of the worst is confirmed . That is the position I have traded on. GL

Biggest short is Ennismore...are they hoping it's the new Quindell or Globo? Can't help but feel slightly worried by the similarities but I have shown faith this far. Thoughts welcome.

Volatility has picked up last 30mins, movement at the ranch across pond. How will the Americans react to this? Hold tight.

I agree with some of your comments Stuart, but the RNS also stated it's a voluntary leave of absence, not a suspension of CEO. It is very much a personal matter that is being addressed by a legal team. Less said openly in such circumstances the better until the case is sorted. The only impact it has on the company is ability to win business or loss of reputation. If you believe the company is more than just one guy, its a buy, if not, sit on your hands a while.

Fair point there, AA did go down so we never say never. The balance sheet here is pretty Vanilla IMO.

Well Ionic, you pay your money, you take your chance. Time will tell who is right here ;)

Dodger - we will have to agree to disagree on this one I think

Hex - This has been dragged up from a long time ago! This investigation seems nothing to do with the present or the company. If this was Enron, why on earth would they transparently announce a delay in revenue in the H1 - they would have just booked it? To start referencing Enron is ridiculous!