MFB - My Food Bag

[silverblizzard888]

off market trade 7m shares @12.5 cents.
hopefully dumping finished, then sp starting recovery.

Good chance thats Habours 6,981,529 shares they had left. Explains why there was no selling by them yesterday. Wonder who bought them out. Share price is already at 13 cents so recovery is going well.

[Master98]

Good chance thats Habours 6,981,529 shares they had left. Explains why there was no selling by them yesterday. Wonder who bought them out. Share price is already at 13 cents so recovery is going well.

Directors buy shares sending signal to market that business is going as management expected.

[bulltrap]

Good chance thats Habours 6,981,529 they had left. Explains why there was no selling by them yesterday. Wonder who bought them out. Share price is already at 13 cents so recovery is going well.

Maybe they topped up to a round number on market, and then transferred them to the related Jarden account. Not sure if a notice would be issued in such a case - although it's more than 1%, their total holding as disclosed would be unchanged.

Also not sure if the transacted price is a clue - whether it's consistent with a related party transaction.

Let's see what comes out, or not, on Monday.

In any case, Xmas sale might just have finished early.

[silverblizzard888]

Directors buy shares sending signal to market that business is going as management expected.

Yes thats one of the key messages from directors buying that all is well and going as expected.

Maybe they topped up to a round number on market, and then transferred them to the related Jarden account. Not sure if a notice would be issued in such a case - although it's more than 1%, their total holding as disclosed would be unchanged.

Also not sure if the transacted price is a clue - whether it's consistent with a related party transaction.

Let's see what comes out, or not, on Monday.

In any case, Xmas sale might just have finished early.

There should be a notice since they still hold over 5% when combined with jarden on their last disclosure, likely a notice on monday to tell us if it was infact them. That may well be the end of the christmas sale and the end of the endless selling pressure.

[nztx]

When do they next report how many bag fulls they got ?

[silverblizzard888]

When do they next report how many bag fulls they got ?

They last reported in November so we won't get the full results till May, but they may update the market at the start of next year. Hopefully its enough to feed all our families.

[winner69]

Small $$$s thou. Might be seen as a weak attempt to show support. Like if they bought $100k and $170k worth then the market would get excited

Most see MFB down in the dumps and a dog of a stock at the moment

Don’t forget that that Cheap Cars was much the same arpt beginning of year

MFB could be this years 2CC

[Rawz]

Most see MFB down in the dumps and a dog of a stock at the moment

Don’t forget that that Cheap Cars was much the same arpt beginning of year

MFB could be this years 2CC

Yes it’s on the watchlist. Just need to get through this slide in deliveries and see where it bottoms out. Why bet now? The insiders certainly not betting big with their $10k purchases. Better to be safe and wait for the next report.

The other problem MFB has (and that 2CC didn’t) is the big pile of debt crushing it. Can’t see a dividend anytime soon. Hard to see a phoenix moment here

[nztx]

Most see MFB down in the dumps and a dog of a stock at the moment

Don’t forget that that Cheap Cars was much the same arpt beginning of year

MFB could be this years 2CC

so someone's past pain with a discarded bag should be viewed as another's potential multibagger gain ?

not a bad view of things, but might have to watch in case the fish heads jump off in a hurry

A shame things haven't gone sub-cent yet, so we could have some real fun ..

[nztx]

Yes it’s on the watchlist. Just need to get through this slide in deliveries and see where it bottoms out. Why bet now? The insiders certainly not betting big with their $10k purchases. Better to be safe and wait for the next report.

The other problem MFB has (and that 2CC didn’t) is the big pile of debt crushing it. Can’t see a dividend anytime soon. Hard to see a phoenix moment here

Agree Rawz

Term / Non Current debt up $1m to $12.4 m in 6 months to 30/9 2023 ..

Shall we assume that borrowings would have been $7.25m less, but for the Dec 2022 interim 3.0 cps dividend to make this time last year a joyous celebration ahead of Divie obliteration ?

The Current Assets / Current Liabilities position looks precarious with Current Liabilities clocking in at 5.06 x current Assets, a slight improvement from 5.4 in Mar 2023

Wonder how fast that $12 mil in Current - Trade & Other payables is being cleared to be replaced by the next lot thrown on the ledger ?

The slightest head wind ahead may not be all that very fruitful with the mastheads carrying north of $85 m in intangibles, if the ship starts taking on water