EVO - Evolve Education

[visionary]

I have reviewed this company closely, and it appears it is a loss maker with costs exceeding income. This is worrying, it appears they may be looking at a CR to keep going.

What are enrollments like, for those on the coalface? I have been watching this company for some time, expectant and hopeful that as our own PM has a child, she may have a vested interest in promoting growth in this sector.

[Beagle]

I continue to hear bad things from the coalface.

I have reviewed this company closely, and it appears it is a loss maker with costs exceeding income. This is worrying, it appears they may be looking at a CR to keep going.

What are enrollments like, for those on the coalface? I have been watching this company for some time, expectant and hopeful that as our own PM has a child, she may have a vested interest in promoting growth in this sector.

Bad things include comments about trends in enrollment levels.

[carrom74]

22 cents and going down hill...Will it go single digits? Time will tell and and the time is nearing i suppose.

[Beagle]

Just a reminder folks that this company was floated with a massive amount of goodwill on the balance sheet and the net tangible asset backing is actually -27.5 cents per share. I won't mince words. I think that goodwill valuation is now fundamentally incorrect. Bankers must be very seriously worried. I do not think there is the appetite within the market for a capital raise. Management have not earned the credibility of the market. I would think the bank already have this company under very close review and the possibility of a managed wind down or receivership is very real. AVOID LIKE THE PLAGUE The chances of this company reestablishing credibility with the market would appear to be slim and it fully deserves its penny dreadful status.

If I get feedback from the coalface that things are starting to turn around and go well I'll post it here but its probably best not to hold your breath.

[winner69]

Child care / teaching things don't have a very good record on the NZX do they

[winner69]

Beagle - I didn't see the little - the first time around

To clarify NAT is NEGATIVE 27.5 cents per share

[carrom74]

Child care / teaching things don't have a very good record on the NZX do they

Was one of the "teaching things" called Intueri?? i was one of the ones who lost out....

[Beagle]

Child care / teaching things don't have a very good record on the NZX do they

Beagle - I didn't see the little - the first time around

To clarify NAT is NEGATIVE 27.5 cents per share

http://nzx-prod-s7fsd7f98s.s3-websit...505/292570.pdf
Note 10 is interesting. Bank has ostensibly removed the vast majority of their headroom with their lending facilities. Massive vote of severely diminished confidence !
Intangible assets were subject to impairment of just over $30m but still stand at $173.7m as at 30/9/2018 down from $207m as at 31/3/18.
Just the very start of the impairment write-down process in my opinion.
Confession: I am a very bad dog and like watching slow motion commercial train wrecks, (because they teach us so much about what NOT to do in business).

[forest]

http://nzx-prod-s7fsd7f98s.s3-websit...505/292570.pdf
Note 10 is interesting. Bank has ostensibly removed the vast majority of their headroom with their lending facilities. Massive vote of severely diminished confidence !
Intangible assets were subject to impairment of just over $30m but still stand at $173.7m as at 30/9/2018 down from $207m as at 31/3/18.
Just the very start of the impairment write-down process in my opinion.
Confession: I am a very bad dog and like watching slow motion commercial train wrecks, (because they teach us so much about what NOT to do in business).

, me too, I try to pick the train wrecks as early as possible. Going to AGM and observing body language is very helpful at times.

[Beagle]

, me too, I try to pick the train wrecks as early as possible. Going to AGM and observing body language is very helpful at times.

Thanks forest that's a very good reminder that verbal and written communication is not all of the picture. Good example was the deputy chair at last years Turners meeting who looked as uncomfortable as a cat on a hot tin roof and of course the SP has tanked badly since then.