Roger Baron
24 Mar 2015
Re: Trade value 14p "Tons of new staff"! Is that how they are measured now?Is this the same captain Multibag who made predictions of turnover of £6mil? I think it's time to put you on ignore.
CaptainMultibag
24 Mar 2015
Trade value 14p ADVFN explains trade value is 14p and how the Earthponzi scheme is building:"1) At the AGM the CEO apparently admitted to an attendee that EPO had been targeting all the BH fx admin customers to get them to give their transactions to EPO. In the interim accounts EPO admitted they had hired tons of new staff. Combine the two admissions: EPO has been pursuing poor low margin SME transaction business, to inflate its revenue numbers. The costs went up more than revenue, that business was not worth winning, but EPO is pretending it is doing fine. The business model has failed. There is no 'operational gearing'. Hiring new people to do loss-making SME work is a fail. Desperate times call for desperate measures: to keep Earthponzi sucking in new investors. 2) At the recent analyst briefing, BoAML (the great hope) was challenged. The CEO appeared to admit that BoAML had gone south; that he hoped it would be back on track in six months or it was running six months behind plan. Again, this is why EPO was hiring staff to drum up loss-making SME business with BH clients. 3) This is why EPO has moved further away from breakeven despite optically high growth in revenue. It bought £5m pa low margin BH fx admin poor business, that came with £5m of costs. Maybe now revenue £7m pa with £7m costs. That fx admin is worth x1 revenue [not the x10 the market is valuing it]. 4) Will a trade buyer value the new, guess £3m pa, SME transaction poor business at revenue x10? No! It is structurally loss-making and not the clients they want. So valued at x0. x1 max. 5) Will a trade buyer value the, approx. £4m pa one-off integration fees, at revenue x10? No, this is non-recurring and not what any buyer wants. Valued at x1 or x0. Standard practice. 6) EPO valuation by a trade buyer after due diligence: BH fx admin £7m rev x1 =£7m SME transactions rev £3m x1 =£3m Integration consultancy fees rev £4m x1 =£4m Bank processing rev £6m x8 = £48m Total rev £20m = £62m business valuation Add say £23m spare cash after allowing for ongoing losses. Trade sale valuation = £85m. c480m issued shares. c120m options. c600m fully diluted. But add £15m exercise cash. Allow 100m extra options to lock-in management post sale,. So fully diluted valuation £100m for 700m shares ie about 14p per share. EPO is worth about 14p per share. This assumes the trade buyer does not apply a discount for management. STRONG SELL. This is the Earthponzi scheme. Its market cap is false. All imho."
Roger Baron
24 Mar 2015
Black Rock holding ...is now back above 5%.No doubt CM will explain why that is a bad sign.
TheFall
19 Mar 2015
Re: Will crash with lousy interims Looks like CM, IT DID NOT CRASH. when will you apologize?
TheFall
19 Mar 2015
Re: no closer to breakeven Don't be surprised if CM turns positive and have just purchased 3.2 million in stock.
TheFall
19 Mar 2015
Re: loss exploded to -£5.4m You say, That looks like being £11m out for the full year. Where?
TheFall
19 Mar 2015
Re: 40p will be hit again and breached Yes 40 p was tested, again, so what, its tested it many many times and your point is what? When are you going to admit you are SS on advfn.
TheFall
19 Mar 2015
Re: no closer to breakeven You mean CM but I could think a few words for CW. CM - could you please answer the points I raised, all valid points on turnover less their purchased turnover to confirm what EPOs real turnover was and is.
Roger Baron
19 Mar 2015
Re: no closer to breakeven Someone has ignored your warnings CW and bought 3.2 mil shares today.
TheFall
19 Mar 2015
Re: loss exploded to -£5.4m I have asked you some questions, do come back
TheFall
19 Mar 2015
Re: no closer to breakeven I have asked you some questions, do come back
TheFall
19 Mar 2015
Captain Multi bag Where are you? waiting for the next drop?I have asked some valida questions, do come back and answer them under "CM" and not simply post spam messages on the same subject.
TheFall
18 Mar 2015
Re: Today How are you?
TheFall
18 Mar 2015
CM CM,Can you answer this question without calling anyone a liar.1) You say they purchased turnover. OK, so what? Why else do companies buy companies. They buy them for turnover and synergies in a hope of reducing costs overall, thus increasing revenue and eventually decreasing costs. Yes their costs have increased, but what's to say it will reduce one day and not continue to increase as the revenue goes up.2) You say EPO purchased Bay for 5 million so worth x1, fair point, but if we assume the revenue of Bay has been flat since the purchase, something you had mentioned, an admin company,, does that mean EPOs actual revenue for the last 6 months was x less 2.5 million for example. If so, EPO has still managed to increase its own revenue.3) I see you have now admitted you can no longer pick on the revenue targets, something even you will be amazed at. If EPO did hit 18 million revenue, surely even you will see that's amazing, esp for a company in the previous two years earned no more than 4-5 million a year.4) If we consider 18 million turnover, take away 5 million Bay, since you stipulated they were a rubbish business with no future, that would indicate real EPO revenue would be about 13 million. Again that is still brilliant, more revenue than any other time. So what is your issue?It seems just the costs and the need to warrant a share price fall to 10p. Why? Because you sold out and want to buy back in. Actually would you deem EPO a great company at 10p, only because you'd make profit.There is not much negativity to be honest, they have great clients, they have a nice cash lump sum in the bank account, they are now using less of the cash, so should only need 4 million cash, and a great future. Sure the costs are going up, sure, nothing is perfect, but I'd like to see you try and build a billion pound company with no hiccups. All in all I think they have a great future, but as I say, do respond to the points, as I would like to understand what revenue you THINK EPO actually delivered in these interims and whether this shows huge growth, if we assume Bay acquisition was flat, lack of revenue, with no growth.You know, which is it, EPO has not grown in revenue and Bay is flat or Bay has grown and EPO flat.
CaptainMultibag
18 Mar 2015
Re: no closer to breakeven Further from breakeven.Loss 5.4m.More market expectation porkers pumped into market this morning. This is an earthponzi Retail money gonna get culled 80%.10p here we come.Imho
