IOMINVESTCOM
30 Oct 2015
Paul Scott's view [link] morning!Globo (LON:GBO)Shares suspended.(I hold a short position in this share)Update - I wouldn't normally comment on a share where I hold a short position, but seeing as this one is suspended, probably for some time to come, then it's an exception.Today's update doesn't really say a lot, other than;The company has reported the situation to the police in the UK, Greece, and CyprusThe FCA is investigating the situationShares remain suspendedWhat everyone really wants to know, is whether there's any cash left? It should be possible to ascertain that within 24 hours, just by contacting the various banks where deposits and loans were held. So I don't understand the delay on this point.Personally I'd be surprised if there is much cash remaining, if any, but time will tell.My archive on Globo - I thought it would be interesting to recap on the history of this situation, and see what warning signs were known, and when. Therefore, I collated all my own posts on Globo here on Stockopedia over the last 3 years into one, easy-to-read 29-page document, which you can read in Google Docs here, should you wish.What is striking, is how obvious (to me anyway) the warning signs were. Bear in mind also, that I'm not given to false negatives - i.e. historically when I've warned about dodgy accounts, I've been right in pretty much every case.Another interesting aspect, is how there was an intense bear raid in Oct 2013, which ultimately came to nothing, and the company managed to continue for another 2 years before the fraud was finally exposed by QCM using evidence obtained from scrutinising Globo's supposed distributors, and interviewing former employees.I think it's very important that private investors learn the lessons from this case. It's depressing to see how the same people on bulletin boards seem to turn up at all the dodgy companies, stridently shouting down any criticism of a company, and then losing their shirts when it all goes wrong.At some point, when time permits, I'm going to create a new scoring system to identify companies which are highly likely to be frauds or semi-frauds - i.e. to formalise what I already do in my head to spot these situations early.Utilitywise (LON:UTW)Share price: 180.5pNo. shares: 76.6mMarket cap: £138.3m(at the time of writing, I hold a long position in this share)Final results y/e 31 Jul 2015 - these figures were announced yesterday, but due to travelling I didn't have time to review them, so have circled back today. There was an interesting discussion about the numbers in the comments section below yesterday's article, which is worth reading, with readers making some excellent points - in particular flagging the terrible cashflow for the year just reported.The financial highlights look good (as you would expect), with revenue up 41%, adjusted profit before tax up a smaller percentage (so a worsening profit margin) at £16.7m (up 25%). Diluted EPS is up 28% at 17.9p - so a PER of about 10, which looks great value on the face of it, for a company that's growing strongly.Questionable accounting - however, as I've covered numerous times before here, Utilitywise uses questionable accounting - the main issue being revenue recognition, where it books revenue (and hence profit) often well in advance of the cash being received.The company mainly generates revenue from commissions paid out by the big utility companies. Companies like Utilitywise are effectively outsourced sales operations for the utility companies. Why is it outsourced like this? Presumably to create a third party intermediary who (supposedly) achieves the most competitive deal for its clients. Whether that actually happens is open to discussion, given that Utilitywise has a gigantic conflict of interest - in that it is financially incentivised to chase the highest c
IOMINVESTCOM
29 Oct 2015
Re: Broken 3 month downtrend on Parabolic SA... Continues to look good on Parabloic SAR with 2.00 being tested this pm.[link]
II Editor
27 Oct 2015
NEW ARTICLE: Slower-than-expected expansion triggers profit downgrades at Utilitywise "After a year of "real progress", LSE:UTW:Utilitywise has beaten expectations with revenue growth of 41%. In order to scale up its exposure to around 2.5 million companies, Utilitywise has been increasing its headcount; although the group is ..."[link]
IOMINVESTCOM
21 Oct 2015
Broken 3 month downtrend on Parabolic SAR Hi All,Link below shows some positive strength and I am wondering whether we are poised to break thru red downtrend cloud above 2.09. At the moment in last 2 days SAR turned positive buy signal and we are halfway thru cloud. Nice to get above 2.00 then onto breaking 2.09[link] promising.GLTA
FRTEB
15 Sep 2015
Re: Opporunity... Nice rise today - up 23.75. Glad I didn't sell, LG, but look forward to another tranche if it drops back to 150.
Larry_the_Lock
14 Sep 2015
Re: Opporunity... Not reversing yet, when to sell?
lambrini girl
08 Sep 2015
Re: Opporunity... nice bounce..shudd reverse to 150 soon..
jonnydurex
08 Sep 2015
scsw Did mention it could bounce very sharply indeed-hope so!jd
Global Nomad
07 Sep 2015
Re: SCSW coverage Is that what lead to this mornings positive jump, up around 9% and in auction now....
IOMINVESTCOM
06 Sep 2015
SCSW coverage Decent write up as Primary Recommendation (one of two) this weekend so a short term positive next week. Sounds like it will make it into their portfolio shortly.
E_C
21 Aug 2015
Re: Whats been going on? Does anyone know when their final results would be released? Its not listed on their website.
Larry_the_Lock
21 Aug 2015
Re: Whats been going on? Wait for sustained downtrend folks, don't let them steal your shares on a tree shake !
casabanker
20 Aug 2015
Re: Whats been going on? Yes, Mr Woodford's fretting over that too.Casa.
E_C
17 Aug 2015
Whats been going on? A few months ago when i looked at this share trading at £3.20 (or around that mark) i thought i missed out. Whats happened since?Reading the last few RNS it just seems they have been downgraded over profit warning but to go from £3.20 to £1.90 im wondering what i missed?
FRTEB
14 Aug 2015
Re: Opporunity... Excellent call, LG. I had 193 as a target price but then saw your 167 call, looked at the chart again and decided to wait.Many thanksBillPS just wish I'd gone in heavier yesterday!
