final results

3655 days ago

Globo – the TEN BIG Questions raised by the results

Globo (GBO) has today served up calendar 2013 results that look as impressive as its luxurious new Athens offices that I visited and filmed yesterday. The numbers have wowed the City – the shares are up 14% at 53p. No doubt the analysts call this afternoon will be a love in with the management. But should any of the teenage scribblers actually want to ask a tough question or two here are 10 to get them started. Many thanks to Matt Earl, the dark destroyer, for this. 

1. Cash. Is Globo making the position look better than it is? For example it cites year end cash at €64.2million. But does that number not include bank debt availability in that. Is that not like me having a £100,000 credit limit on my Visa and telling everyone I've got £100,000 in cash. 
   
   In simple terms

3660 days ago

Iofina Results – what utter bollocks: this company is almost bust

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 31^st 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 31^st 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