Member Info for TruthSearcher

The Grim Laxey Reaper from the Isle of Man is on his way with an RNS just after hours is my view - will it be a 5p fund raise, a delist or an offer to buy you all out at 30p?? Place your bets as the ball on the Laxey Roulette wheel is about to drop ! I have my money on an oops mind the gap delist...

Well the market has spoken and the price drops 7% to virtually the all time low from a few weeks ago. If you look at the RNS and results you have to say there is no major surprise - negative or positive - so no reason for confidence to return after the debacle of the shotgun fundraising earlier this year (did they not know they were almost out of cash lol). Anyway I bought back in here knowing that this would probably take 6 months plus to move - so no change really, just a shame that there was no new positives.

No visibility on current trading, no visibility on cash position when expansion in USA completed and a vague H1 timeline - I call that poor. On the plus side they have taken action on cost but that's all in the past. Very cautious report that won't move the share price, looks like we will need to wait till 2021 for any upturn. GLA

@Chester 18 - I think your summary was excellent and probably accurate. As you may remember I was negative about an investment here but not about the potential and avoided the dilution which I forecast was likely to happen. I have take a small position of £5k about 10 days ago at about 0.32 and will consider doubling down if this drops below 0.30. I worry about the impact of Covid-19 on the speed of the growth, but you can say that about virtually every company these days. With the management further invested, a better Covid-19 outlook in 2021 and good execution by the company I can see us being just under 1p in 12 months time. Definitely 2/3rds opportunity to 1/3 risk now from my perspective. GLA an particularly the patient LTH's who were diluted

@Crabby08 - I have never posted on EUA and never held, unlike here, so think you have your wires crossed ? I did at least pop up here in advance of people getting wiped out to express a view, rather than popping up all wise and sorrowful after. If you need help with wound healing I know a company with great wound healing products......

So they raise £14.6m at a 76% discount which only keeps them going for 18 months, provide no future trading update and no vision of when they will be profitable - nice ! This was why I stayed away from here a number of months ago, great products but poor business acumen and run by people who have no respect for their shareholders. Sorry for those that have been diluted, but this was always a coin toss which I think everyone was aware of.

Sold out here earlier - then dropped back to £1.90 then surged to over £3 and back down. DBAY have bought a stake and then increased - this is not a distressed business, so they obviously see value here. With no debt and a focus on UK farming going forward still see a 40% upside here - just wish I had bought in at £1.90 rather than the £2.79 I paid today lol

@jedclampit - I know Stoll is rich but why would he mount a £500m plus take it private AND put working capital in ? I am not positive about the long term but do feel the drop is overdone, so took a small stake at 32.64 a few minutes ago. Even a dead cat bounces right ?! GLA, particularly the bruised LTH's

@traveller - how can you be negative about TF and his posts when the fact is your capital is now worth less as opposed to more because he called it right and you didn’t ?! You may not like the direction the SP is going or TF’s posts but that’s tough - if you see a pot of gold here keep buying and come back when your analysis has proved to be right - but I won’t be backing that horse that’s for sure lol

@lemonafe - the words on DBAYS web site do not match their track record - that is the point I have been making about them. They are not what they seem and like to portray themselves as - rate them based upon what they have done to previous businesses - not the PR bull.

@Ouchanj - I get where you are coming from and sympathise with your position. Although the overall trend on Monday and for the rest of the week will be down, it might not be best to exit first thing, if the sp was to overreact and then partially recover - then again it might go the other way and hold up initially and then drop further, sadly impossible to predict, but whatever happens and whatever you decide hope it works out for you.

@Ouchanj - You may believe that the RNS was positive, but the market did not believe so and the SP will react further on Monday, so as long as you are happy with believing that the RNS is positive but the share price will decline further, then all is good.

So either DBAY suddenly realised yesterday morning that they had material facts to report and diligently started to prepare the RNS as the professional people they are, or they had a plan all along and decided purposefully to issue this 6 minutes before the market closed on a bank holiday weekend - I'll let you decide which one it is and whether they have your best interests as shareholders in ESL at heart. I don't think this will be the last nasty little surprise they drop either, my view is that they have a plan and that plan is not beneficial to the shareholders of ESL, because they only care about their own returns - just research their track record. There may be of course a dead cat bounce and a trading opportunity over the next week, but the die is cast and no Lemonade this will not be at 15p by the end of next week, that I can guarantee you ! TF was more spot on with the timing of the RNS that I was and Iagree with him that an investment here is now no longer a sane option. If you plan on buying more you are aware of the risks and it's your capital at risk, not mine or DBAYS.

Part of me was hoping that I might be wrong and have to to apologise to those that were positive on ESL and eat humble pie, as I don't like to see anyone get sucked into a bad situation- sadly that is not the case. At the end of the day this is only one share so hope you make back the losses next week in other areas.

Remember, I don't think this is the last of the bad news.....

Next 6 weeks....let's see....19 Apr 2020 17:20
OK, so there are three views on ESL, those like Mark who have sound reason for investing, a good knowledge of the sector and a belief that the debt and stressed balance sheet will be sorted without a massive ESL shareholder dilution. Then there are those who just think the share price will treble, quadruple and more because they want it to and think that insults and shouting will help achieve that goal. Then there is people like myself and TF who believe that DBAY may use their control of the assets, debt and the holding company to drive an outcome that will be unfavourable for ESL shareholders.

It appears that 6 weeks from now we will know the answer to who was right and who was wrong. I am much more certain than TF that the ESL shareholders capital will be at severe risk with what DBAY plan to do, based upon knowledge about how they have operated in the past, AT reducing his holding when he had no need to and knowing some of the people involved. I have made my points clear and everyone has to make their own mind up about how much risk they want to take with their capital. I shall be back at the end of May/when developments occur to see whether you are all laughing hysterically at my posts warning of risk while counting your multiple bag profits or in a state of shock about what has happened to your investment. So far all my predictions about ESL over the last 7 weeks, unlike all the other massive ramping predictions, have been spot

@traveller - Haven't been in Metro since early March lol but you will see I posted on buying in to NYCT at 282p 8 days ago and sold at 450p - also bought Microfocus at 363p last week and sold out at 470p this week so doing nicely and went back to all cash as think the second wave of market selling is about to hit

@traveller - No I don't work for the Foreign Office, but thanks for asking

@traveller - I thought the answer was in my post - ie I thought there might be a 20% trading opportunity over a few days/a week - that is attractive in anyone's book I think ?!

I am surprised that their has been little movement - I would have expected it to have been hovering between 8p and 11p but seems to be stuck at 8p or thereabouts. I think there might be an RNS tomorrow, but if not then probably nothing until the end of May. I think the supermarket volume will have subsided, but the other sectors will still be materially down, so any benefit will be cancelled out. Given the current climate I wonder how they raise cash to turn this into an investment company and given the lack of clarity to forecast, how you establish value on target acquisitions - unless you only do distressed purchases. The longer the share price lingers and the more delay on how DBAY intend to deal with the issues, the more nervous I am. I did consider re-entry last week and this week but held off and took up other opportunities which were much more positive. None the less, gla to those invested and hoping for a miracle.

@carpfisher - it's fake news - a site will pick up the old report and target price and then compare it to the current price to give the upside - of course the report is completely out of date and not relevant anymore - but that doesn't bother lazy journos, market manipulators and crazy rampers

@mushty - it may have on the screen you are looking at but it's fake news which is 9 months older or more - there is no such broker report after July 2019 !

LOL - Mushty - that broker rating is at least 9 months old, dates from before they were suspended, before 51% of the company was given to DBAY and before a hole the size of the Grand Canyon was found in the trading figures and balance sheet ! I assume you know all that ??!