90 days ago
Platinum group metals producer from South Africa, Sylvania Platinum (SLP) has issued an update on the first quarter of its year noting a “15% lower PGM basket price recorded during the quarter” but that it remained profitable and that its cash balance increased 2% to $126.9 million during the quarter. So what of a market cap around £200 million?
465 days ago
Running a shite AIM company, guzzling cash, tank almost empty? In a bit of a bind. Maybe you need to consult a man who is an expert at running such worthless promotes and still raising cash for them time and time again. There is such a man and he’s keen to help….
495 days ago
On 7 October Argo Blockchain (ARB) announced a series of measures to raise $39.5 million and claimed that this would be enough to last 12 months. Now I have doubts about that claim but unfortunately a proposed $27 million placing fell through so where is the company now?
554 days ago
WTF is a mid season sale? In September Made.com (MADE) was pushing a “clearance sale” to those who get its spam. Last night I was invited to save up to 40% in a mid season sale as you can see below. I guess next month it will be a pre Christmas sale, then a Christmas sale in December before New Year sales start in January. In short every month at what is meant to be a premium retailer sees it act like a discount retailer. One wonders if the ASA would like to check out details of its supposed “hurry before its over” sales promotions as you can bet the ranch that the next hurry before its over promo is almost ready to go.
705 days ago
Analyst, Chris Puplava, argues that Fed rate hikes don’t always result in recessions. He believes there is no spare capacity to compensate for a slowdown and, therefore, the Fed is limited in its ability to control inflation. The November elections are always a factor, and he doesn’t expect the Fed will tighten aggressively into the fall. Mortgage rate hikes, he argues, are already impacting the housing markets, as the interest rate pain threshold has been more pronounced with every debt cycle.
1420 days ago
In today’s podcast I tempt fate – as I am about to record a video with Matt Earl – in defending Boohoo’s (BOO) boss. I discuss the shares vs cash debate, Rolls Royce (RR.), sharp share price moves, ref Skinbiotherapeutics (SBTX) and what the real unemployment number will be as furloughing is wound down. And now for a long training walk for the Woodlarks walk in 2 weeks time. We are now at 36% of target: please donate today HERE
1490 days ago
Maybe I admire Tim Martin of JD Wetherspoon (JDW) a bit less but I understand what he is up to. Across the land not everyone is rallying around praising the NHS and saying “we are all in it together.” Businesses are desperate to hoard cash and are forced to behave in ways that are not always very pleasant. I do not think some folks realise just how bad the Government’s reaction to Covid 19 rather than the virus itself will be for the economy, for businesses and for its own finances. Mr Martin needs to draft an RNS for 7 AM to say whether he has been misleading beer suppliers or misleading investors.
1741 days ago
I have noted on this website several times how Audioboom (BOOM) has real form in giving a misleading indication of its cash position and cashburn ahead of a bailout placing. I warned you that it was up to its old tricks again in the final months of 2018 and early 2019 ahead of two placings which came along as predicted. Now the scale of that naughtiness is revealed with dismal interims out today. Here is your timeline.
1970 days ago
After recent disasters such as Kier (KIE) and faced with wall to wall redemptions, funds managed by Neil “nomates” Woodford are clearly utterly desperate for cash. Today another sign of just how big is that crisis emerged. It’s a shocker.
2772 days ago
Ceteris paribus Avanti Communications (AVN) will be trading whilst insolvent within weeks - its cash will not be sufficient to meet contracted capex and bills payable. That is why it is delaying publishing audited results for the year to June 30th 2016 - no auditor is going to sign off on anything from what is an insolvency waiting to happen. Avanti is trying to hide the awful truth but industry sources are revealing its desperate measures to stay afloat.
2828 days ago
The last podcast recorded with the audience of my father for a few days sees a few comments on how he yearns for the socialist paradise of Albania in the good old days. Whatever. I look at Nostra Terra (NTOG) and what it must do and another bear point for Avanti Communications (AVN) I had overlooked, at FastForward (FFWD) and why it is such a dog with fleas and at broken business models in both new media and the European Banks. The truth is that the Emperor's New Clothes, in both cases, really are not that impressive.
2850 days ago
No doubt Paul Scott is wetting himself as TrakM8 (TRAK) boasts of how pre-tax profits of £3 million leads to cash of £4.45 million being generated in calendar 2015. There is so much cash generated that his Dorset bunnies are paying a 2p per share dividend, even though the company has now moved into net debt. The squeals of Scotty delight in Brighton are almost audible here in Bristol. Except that it is all smoke and mirrors. TrakM8's business remains a piss poor non generator of cash.
3082 days ago
And boy did the grossly overpaid poltroon Phil Letts serve up a stack of metrics in this trading update. KPIs, metrics, MBA tosser jargon, it was all in there. But buried at the bottom was the cash position. Ouch. When’s the next placing Phil?
3345 days ago
Managing a company that has run out of cash is hard. You must delay paying bills until the last possible moment, keep the banks happy, try to generate cash however but in the end something cracks. If like Quenron you have net debt and are burning cash, you can stretch your average payment terms out to a disgraceful 122 days (and climbing) but in the end someone you owe money to takes you to court and gets a County Court Judgement (CCJ) against you. For investors this is a massive red flag.
3475 days ago
Steve Moore and I are pretty proud of NOT having published a new share tip for several months on our pemium Nifty Fifty website There are commercial pressures to write tips – folks do not renew if you see no tips! – but we could not have acted differently and felt good about ourselves. Instead we have advised the selling of a number of older tips some at a profit others not so and we hope our readers are now fairly heavily cash weighted as a result.
3561 days ago
I noted here the other day that Northern Petroleum (NOP) is heading for a cash call. Today it has announced the sale of its UK assets for £1.5 million to UK Oil & Gas (UKOG). It’s a great deal for UK Oil & Gas but it tells you that Northern needs cash. Fast.
3561 days ago
In 2014 Quindell (QPP) will book revenue of £228 million (28% of group sales) from Industrial Deafness claims where it will generate not a cent of cash. Those revenues are based on the estimates provided by Mr 2+2 Can =5 Rob Terry and his fellow directors and will ensure Quindell hits EPS forecasts. But anyone looking at this industry must recognise that Terry is bullshitting. Here’s why. Meet The Hearing Clinic.
The Quindell assumption is that as of June it will do 6,000 cases a month. It assumes it will them all. And that it will earn £9,000 per case. Assuming a 15 month average conclusion (the industry average is 20-36 months) it is booking £6500 of revenue for EVERY case taken on within 12 months.
Last year there were less than 20,000 successful cases in the whole of the UK. That number has been static (actually falling a bit) for a while. There were however 60,000 failed cases as ambulance chasers moved into this area from whiplash.
That should tell you that Quindell has not got a hope in hell of generating 72,000 winning cases a year.
So where are the new claims coming from?
3655 days ago
Iofina (IOF) has today served up a gushing set of results. Everything is up, all looks fabbo, there is no need to raise fresh capital to carry out its “core” business plan, and the directors are confident and say the company is a going concern. What complete and utter bollocks.
I note that it says the full accounts (which will show the nasties) are available on its website. They are, at 7.15 AM, not available on its website.
I note that at December 31 cash stood at $8.268 million. As at March 31st it stood at $2.3 million. In other words Iofina sent c$2 million to money heaven in each of the first three months of 2014. Trade payables at December 31st were c $1.1 million greater than trade payables.
This maybe beyond the scope of analysts at Numis Securities but my cat can do the maths on that one. Surely even the average bulletin board moron can also do his or her sums.
The statement about having the funds
3679 days ago
Bear raider Evil Knievil lost £40,000 shorting Quindell Portfolio (QPP) last time around but he has opened up a material short position after results yesterday, but has been prevented from letting folks know about it. I am always here to help…I am that sort of all-round nice guy.
At 35p Quindell is now capitalised at £2.1 billion. Results for calendar 2013 were released yesterday and are not designed for easy reading. There is so much verbiage, restatement of prior year numbers, PR flim flam and general information given that it is terribly hard to get a clear picture of what is going on.
The bulls would point to a 133% increase in sales (to £380 million) and how adjusted pre-tax profits soared by 133% to £133.7 million giving adjusted earnings of 2.54p an increase of 75%. A PE of 14 for such growth surely this is a bargain. Well er…up to a point.
Profit is a matter of opinion, cash is a matter of fact. And the cash generated at an operational level was truly pitiful
3802 days ago
I was sitting down with a pal last night and we were trying to work out how much cash Range Resources (RRL) has left. I think the answer would not make pleasant reading if you are long. I am short and cash (or lack of it) is why.
3816 days ago
Oh dear. Oh dear. More grim operational news from AIM Cesspit posterboy Cyan (CYAN) today and all the time its cash is draining away. Which has more chance of surviving past Christmas? The stockmarket cash gobbling turkey Cyan or one of the gobblers on one of Bernard Matthews’ farms? On balance it is Cyan but will it make it to Easter? That is a rather different matter.
