gamesinvestor
18 Dec 2017
Director holdings Interesting that Richard retained all of the options he exercised over the last years, resulting in this significant shareholding as acting CEO.Richard G Q Kellett-Clarke 13,516,589 £3,818,436.38This is unlike Riley and Mackie who both offloaded significant chunks in September.Games
Wout
18 Dec 2017
Re: Interesting these stories "always" end up with a rights issue as banking covenants are broken. Sadly been burnt a few times but thats the risk with small caps / micro caps.I will only buy more once a rights issue / re-financing is announced.
gamesinvestor
18 Dec 2017
Re: Interesting mega -- I toed dipped here and it's dropped again since, but often it's hard to find the bottom of a stock when it's out of favour.It's also hard to find a bottom at the top, which is where many of the stocks appear to be at, at this point in time.The underlying business looks good here -- it's just as you say, no one likes to see shenanegans played with revenue recognition and profits restated.Riley looked a little flakey on the piworld presentation - still they often say - "invest in a company that can be run by eejits, because one day they surely will be".If the core business 80% is renewable or expected, that's pretty sound and now on a P/E of 6 -- it needs clearing up and probably a new CEO to stabilise the ship.I'm not too worried about the dip - I'd say this is for the medium to long term (3-5 years) and provided it keeps this level of divi cover and it grows above inflation, I'm happy to take the 4% and wait.Games
megastream
18 Dec 2017
Re: Interesting gamesinvestor said "or is there something nasty underneath it all?"And that's the problem. A re-statement of accounts downgrading profits and the responsible senior management going off sick. Lets hope there are no further downgrades. Like you, I have decided to increase my investment at what looks like a bargain price - but trying to catch a falling knife has never been my forte
gamesinvestor
18 Dec 2017
Interesting Well despite my earlier posts, at this now low level it looks more interesting.If it turns out that this was just a revenue slip into 2018 then at some point it'll recover strongly, so I've taken a blind punt at this point and will wait until they formally announce to see if it was a smart or a dumb move -- and then maybe add some more.The underlying business seems sound, the divi is reasonably well covered, despite the debt having risen a tad too much.The acting CEO has been the FD, Opps Director and CEO in the past, so he should have a pretty good handle on the company.On a P/E of 6, a yield over 4% -- is it a freak opportunity perhaps, or is there something nasty underneath it all?Games
charlie51
13 Dec 2017
Re: Drop Disaster. And not one that gives me any pleasure (even if I wish I had been short, but I wasn't). Nomates are you still holding?
gamesinvestor
13 Dec 2017
Re: Drop waytogo -- This looks highly suspicious --the CEO doesn't go off sick without a proper explanation. There must be a major issue here as £3M on a £23M reported figure is a 15% mistake -- not a small issue as dressed up in the message.Also -- not having been looking at this, I just looked at the last interim report and the alarm bells should have been ringing back then. These are the highlights with my comments inserted as >>> :-Financial Highlights • Revenues up 19% to £44.2m (H1 2016: £37.2m),benefiting from first time half year contributions fromthree recent acquisitions>>>> All looks good at this point - a growing business (at least by aquisition).• Adjusted EBITDA* increased 2% to £10.3m(H1 2016: £10.1m)>>> This looks concerning in the sense that these numbers include the 3 acquired companies six months numbers as well. Had they not made the acquisitions, I assume the earnings would have been distinctly negative.• Profit before tax was £4.1m** (H1 2016: £6.5m) • Basic EPS 0.87p (H1 2016 1.71p) • Adjusted profit before tax*** £6.9m (H1 2016: £7.9m),reflecting increased investment and finance costs>>> This partly explains it.• Adjusted EPS*** 1.46p (H1 2016: 1.97p) • Cash generated from operating activities before tax asa percentage of Adjusted EBITDA was 116%(H1 2016: 145%)• Net debt as at 30 April 2017 was £28.2m (H1 2016£13.9m; 31 October 2016: £25.0m); including £5.4mcash paid to vendors in H2 2016 acquisitions and £11.6mbond from 6PM acquisition>>> That's a pretty hefty debt for a company with after tax profits some way south of £4M -- not sure what the tax figure is but even ignoring the tax, the debt/profit figure is 7X and probably closer to 7.5 to 8X once tax taken off.Games -- The P/E is still at 12 with the decline in the price to 38.25 divided by an expected EPS 3.64p (reduced by approx 13% = 3.16p) = 12 ---- assuming there are not any other shocks in the numbers.
waytogo333
13 Dec 2017
Drop ......seems way overdone, as still looks like revenue won't be far off 2016. However, any 'warning' on AIM these days usually results in huge initial drop.Just hope there's nothing more sinister behind the CEO 'illness' coinciding with the revelations.....
gamesinvestor
17 Nov 2017
Re: Results mmm -- I watched a company video on this and looked at the numbers a few times in the last months with a view to investing.I doubt I'd consider it now after reading the 6PM report, and if I held the stock I would sell it immediately.If the previous fraud was uncovered and over two years, it makes you wonder what else they are hiding.I also listened to a company update from the CEO, he didn't impress me much at all.Games -- filing this one under B
charlie51
17 Nov 2017
Re: Results Nomates - I have no position here long (no way), or short. Don't let the statement of fact get in the way of blind hope. I only post on this BB.
Biscuit Barrell
16 Nov 2017
Re: Results I don't know the motivations of Charlie, but a few comments:Firstly views positive and negative are welcome. I dont like rampers up or down but I want to hear views of all sorts.Secondly, I think it would be wrong to assume the market in idox is "perfect" and all information is fully absorbed into the price - the volume on this share is too low for that to be true.And most importantly - THIS IS A PRETTY SHOCKING REVELATION ABOUT THE COMPANY I AM INVESTED IN.
nomates
16 Nov 2017
Re: Results Your comments on this stock show that since 2103 you've been negative. Even given this last Trading statement, the shares are up 75% since then.The link you've posted here (and probably on other boards) is a month old. Don't you think if it were the disaster you hope it is, the stock market might have noticed by now?
charlie51
16 Nov 2017
Re: Results A disaster.....why this is not announced here I do not know...It gets much worse when you consider the “under the covers” massive restatement of the 6pm accounts in Oct for the prev 2 years which show they acquired a massive loss making, reducing revenue business. [link]
Eadwig
12 Jul 2017
Re: BIANCABOT Bought 59p mid You're up against Recognia on this one, who released this alert on Monday. (Mind you, with the target over 260 days you could both be right! Good luck! I admire your efforts very much and wish I had more time to engage with them.):"Recognia has detected a "Double Top" chart pattern formed on IDOX PLC (IDOX:LSE). This bearish signal indicates that the stock price may fall from the close of 58.12 to the range of 39.00 - 43.00. The pattern formed over 260 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.Tells Me: The price seems to have reached a top, after failing to break through a resistance level and ultimately breaking downward in a sign of reversal to a new downtrend. The Double Top pattern forms during an uptrend as the price reaches two distinct peaks at roughly the same price level. Volume reflects a weakening of the upward momentum, tending to diminish as the pattern forms, with some pickup at each high, less on the second high. Finally the price breaks down below the lowest low to confirm the bearish signal"[link]
BarCap
11 Jul 2017
BIANCABOT Bought 59p mid IG buy price 59.9p
