zyreon
03-07-2004, 07:09 PM
<h1>SEL SELECTOR GROUP LIMITED</h1>
In the spirit of talking about shares... as opposed to "other topics" what is the opinion/thoughts on this little puppy dog?
The only thing that catches my attention is something that was mentioned in the last announcement. It could be just general director speak (i.e. all is well), but more importantly it could point to future events which would cause a nice wee gain.
quote:
Name of Listed Issuer: SELECTOR GROUP LIMITED
For Full Year Ended: 31 MARCH 2004
Unaudited: NZ$000
CONSOLIDATED OPERATING STATEMENT
Total operating revenue: $417 ($429) -2.8%
OPERATING SURPLUS AFTER TAX BUT: Loss$3,812 (Loss$1,035)
NET SURPLUS AFTER TAX ATTRIBUTABLE TO MEMBERS OF LISTED ISSUER: Loss$3,812 (Loss$1,035)
Earnings per share: -0.05 cps (-1 cps)
Report to Shareholders
The Directors of Selector Group Limited advise the preliminary result for the year ended 31 March 2004.
Although annual sales revenue only rose slightly from $415,000 to $417,000 the net operating cash outflow for the period was substantially reduced from $247,000 to an almost break even situation of a net $8,000 outflow. The result reflects the stated intention of Directors of preserving the ongoing viability of the business as the Directors sought alternative distribution options and/or a restructuring of the business ownership.
There has been rigorous debate between your Directors and Auditors before it was agreed to write down goodwill to Nil. This write down decision was required because goodwill had previously been recorded on the basis of "future expected benefits" and the Company's last three years sales figures could not justify retention of goodwill.
Directors, however, remain confident in the inherent quality of the product, technology and support service and the potential for it to be leveraged through one or other of discussions currently taking place with interested parties which if successful would value the company significantly higher than that reflected in the balance sheet.
We will keep shareholders abreast of any development.
A definite dog... the only problem (or more appropriately the most impeding) is with little dogs like this is that of appaling liquidity. I have been experimenting with the low price stocks to see if i could turnover a little bit of profits. However it is appropriate that i say a little bit, as you can only really play with about 1k per trade (unless you're patient... but then if you're patient you should be in quality companies!)
<h1>RMG, RMGOB Receivables Management Group</h1>
The low point for this one has probably passed with the last announcement providing some sense of certainty.
Probably one issue is will the options make it back to 'in the money' status...
If so profits would be nice, especially with the options trading at some 0.4 of a cent
quote:RMG Limited today announced the purchase of a banking receivables portfolio with a face value in excess of AUD$50 million.
Consistent with industry practice and commercial confidentiality, the purchase price of the debt was not disclosed.
RMG's Managing Director, Mr Ron Logan stated "the purchase will be funded via a new debt program arranged by Presidio Capital and provided by a new international financier to the RMG Group. We have been having discussions with this party for some time and we are pleased they have aligned themselves with RMG to participate in future debt acquisitions".
Mr Ron Logan also commented that there were a number of other debt acquisition opportunities in prospect for RMG and its financier and was confident that RMG would be able to continue to grow its acquired debt portfolios.
In the spirit of talking about shares... as opposed to "other topics" what is the opinion/thoughts on this little puppy dog?
The only thing that catches my attention is something that was mentioned in the last announcement. It could be just general director speak (i.e. all is well), but more importantly it could point to future events which would cause a nice wee gain.
quote:
Name of Listed Issuer: SELECTOR GROUP LIMITED
For Full Year Ended: 31 MARCH 2004
Unaudited: NZ$000
CONSOLIDATED OPERATING STATEMENT
Total operating revenue: $417 ($429) -2.8%
OPERATING SURPLUS AFTER TAX BUT: Loss$3,812 (Loss$1,035)
NET SURPLUS AFTER TAX ATTRIBUTABLE TO MEMBERS OF LISTED ISSUER: Loss$3,812 (Loss$1,035)
Earnings per share: -0.05 cps (-1 cps)
Report to Shareholders
The Directors of Selector Group Limited advise the preliminary result for the year ended 31 March 2004.
Although annual sales revenue only rose slightly from $415,000 to $417,000 the net operating cash outflow for the period was substantially reduced from $247,000 to an almost break even situation of a net $8,000 outflow. The result reflects the stated intention of Directors of preserving the ongoing viability of the business as the Directors sought alternative distribution options and/or a restructuring of the business ownership.
There has been rigorous debate between your Directors and Auditors before it was agreed to write down goodwill to Nil. This write down decision was required because goodwill had previously been recorded on the basis of "future expected benefits" and the Company's last three years sales figures could not justify retention of goodwill.
Directors, however, remain confident in the inherent quality of the product, technology and support service and the potential for it to be leveraged through one or other of discussions currently taking place with interested parties which if successful would value the company significantly higher than that reflected in the balance sheet.
We will keep shareholders abreast of any development.
A definite dog... the only problem (or more appropriately the most impeding) is with little dogs like this is that of appaling liquidity. I have been experimenting with the low price stocks to see if i could turnover a little bit of profits. However it is appropriate that i say a little bit, as you can only really play with about 1k per trade (unless you're patient... but then if you're patient you should be in quality companies!)
<h1>RMG, RMGOB Receivables Management Group</h1>
The low point for this one has probably passed with the last announcement providing some sense of certainty.
Probably one issue is will the options make it back to 'in the money' status...
If so profits would be nice, especially with the options trading at some 0.4 of a cent
quote:RMG Limited today announced the purchase of a banking receivables portfolio with a face value in excess of AUD$50 million.
Consistent with industry practice and commercial confidentiality, the purchase price of the debt was not disclosed.
RMG's Managing Director, Mr Ron Logan stated "the purchase will be funded via a new debt program arranged by Presidio Capital and provided by a new international financier to the RMG Group. We have been having discussions with this party for some time and we are pleased they have aligned themselves with RMG to participate in future debt acquisitions".
Mr Ron Logan also commented that there were a number of other debt acquisition opportunities in prospect for RMG and its financier and was confident that RMG would be able to continue to grow its acquired debt portfolios.