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  1. #581
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    What’s your opinion left field?

  2. #582
    2019 NZ Stock Picking Winner silverblizzard888's Avatar
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    Quote Originally Posted by Left field View Post
    Result out today....this auditors note caught my attention. GLH.

    We draw attention to Note 3(d) in the consolidated financial statements, which indicates the group’s loss for the year of $2,987,000 and negative operating cash outflows of $3,570,000 and the need to comply with financial covenants for continued operations. As stated in Note 3(d), these events or conditions, along with other matters as set forth in Note 3(d), indicate that a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

    It should be no problem since Moa itself is said to be breaking even on the beer business and given the recent acquisition they are now a profitable company going forward.
    The note was just flagging that if they continued with the current losses and negative cashflow the business would be endangered, but going to the next financial year this will look like a completely different business in terms of its financials.

  3. #583
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    Quote Originally Posted by petty View Post
    What’s your opinion left field?
    I appreciate SilverBlizzard's input. He/she may well be right.



    Attachment 10583

    This is not a company I would invest in, nor hold, until the SP starts trending up on good news and results. At this stage, Moa is just one company in a very crowded craft beer market and in TA terms is in a downtrend. Frankly I don't see Moa has a valid 'point of difference' that will allow them to outperform the NZX50 Index for some time.

    As always DYOR and take responsibility for your own decisions. GLH.
    Last edited by Leftfield; 30-05-2019 at 06:50 PM.

  4. #584
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    Anyone taking a look at the Behemoth crowd funding? Revenue for FY19 is 4.2m with 308 EBITA company valuation they’ve set is about 26m

  5. #585
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    Quote Originally Posted by huxley View Post
    Anyone taking a look at the Behemoth crowd funding? Revenue for FY19 is 4.2m with 308 EBITA company valuation they’ve set is about 26m
    At least they are in the black......

  6. #586
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    Quote Originally Posted by Sideshow Bob View Post
    At least they are in the black......
    At least it’s craft beer

  7. #587
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    Quote Originally Posted by stoploss View Post
    At least it’s craft beer

    So true ........
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  8. #588
    2019 NZ Stock Picking Winner silverblizzard888's Avatar
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    Even though this company is still a beer company, its probably slowly changing to a restaurant company.

    For those who remember Trilogy, it started off as a candle business called Ecoya that could only break-even, then it acquired Trilogy skincare, which is where the real margins came in and made it a success.

    Same story here. This is a beer business called Moa that at best will break-even, but after the acquisition of Savor where the real margins are, it will be made into a success.

    Same person running it, same strategy, you know the rest.

  9. #589
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    Quote Originally Posted by silverblizzard888 View Post
    Even though this company is still a beer company, its probably slowly changing to a restaurant company.

    For those who remember Trilogy, it started off as a candle business called Ecoya that could only break-even, then it acquired Trilogy skincare, which is where the real margins came in and made it a success.

    Same story here. This is a beer business called Moa that at best will break-even, but after the acquisition of Savor where the real margins are, it will be made into a success.

    Same person running it, same strategy, you know the rest.
    Real margins in bars and restaurants .... get me a Tui, plenty go under each year , very competitive industry .

  10. #590
    2019 NZ Stock Picking Winner silverblizzard888's Avatar
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    Quote Originally Posted by stoploss View Post
    Real margins in bars and restaurants .... get me a Tui, plenty go under each year , very competitive industry .
    Its not that bars and restaurants don't have good margins, its usually inefficient management that put those margins under pressure or really bad food and service. Why else would so many people be scrambling to open a bar or restaurant if there were none? Restaurant Brands would be gone by now and Mc..something will not exist, little lone sub.... nothing.

    The factors that make a profitable restaurant is being able to manage cost, while providing good food and good service. Theres a lot of money to be made if you can get the crowd in. The ones usually going under are the ones that think they can cook so they open a restaurant to realise the majority of the work involved is managing and admin and they don't handle it well. The other bunch that don't do well is the ones with money and a idealistic dream that running a restaurant is romantic and that they live to serve beautiful food at a not so beautiful price because all they can do is hire people to do all the work. That is why there is a high failure rate because everyone gets in thinking its easy, then reality hits and they either discover they don't have the management skills or the ability to make good food.

    Now I'm not going to say Savor is going to be successful since I haven't been to their restaurants, but from what they have done I'd say its not an easy feat to open so many restaurants and bars, so they definitely have the management skills, having good management skills usually ensures service and cost are kept under control. They also have to be able to serve good food and good drinks in this case. The drinks are a given since its tap and bottled drinks, so the last is the food, which I imagine is good if they have managed to build a company with $25 million in revenue. They are on a constant expanding phase too, so theres a fair bit of growth happening, though won't scale that well after a while, but certainly could build out a 2-3x business from their current valuation in the next few years if things go well.
    Last edited by silverblizzard888; 04-06-2019 at 07:04 PM.

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