.

I am not expressing any glee in the matter at all apart from the knowledge that many of the people who were responsible for dragging people into this stock have lost money. A very similar scenario occurred with ELH, DLG, MMD and quite a few others I could list. I have a nose for spotting stocks like this. When stocks shoot up in price by absurd degrees, there is usually something wrong.

There are several other stocks which are going the same way as EVS in the near future. Be careful you are not invested in one of them. Listen to alternative views and make your own mind up.

well thats ok then,haystack,so less of the lol in capitols!!!!

The LOL in capitals was that they only got 175,000 for the company that they were claiming was making millions. I used to do financial modelling at ICI in their treasury dept. One of the senior accountants showed me how companies make their businesses look better in their results and how to spot them. EVS's results look very different if you ignore the hype and look at the figures.

By the way, where are the 1m fixed assets that were mentioned in the last set of results?

http://moneyam.uk-wire.com/cgi-bin/articles/200503230700110999K.html

Tangible fixed assets 1,137,630

Haystack,
you say there are several other stocks heading the same way as EVS.....could you give us a list of what ones you are talking about? Give us amateurs a chance to get out before losing too much!

Thanks,

Steve

The assets were the 7 Telecom network at their book value.

It is fair to say that they were a little on the lean side with their depreciation schedule. At the end the book value was still over 1m whereas in reality it was worth no more than was acheived for out of date switching gear.

That's what I thought. The writing was on the wall when they said that their core business was volatile and they would not be expanding that area.

This is from the trading update in July and says it all. This was where they made their money. If you read the implied meaning then you can see they are in trouble.

"While this is an important part of the UK market it has always been and continues to be a volatile sector. Envesta competes in this market by continually seeking new niche opportunities. Our strategy is not to grow this business further".

So what now for the P.I's that hold this. Where do they go from here? What about L&G are they still in? We all know the story but what about some advice as to what happens from here.

MS

mickey you cant do anything until the debt is made clear it looks like the debt is higher then the assets in which case pis will not get any money back.you are stuck in as the shares are none tradeable at the moment.

The latest announcement says it all. It is a shell and won't trade. If someone wants the company for the tax losses (not certain as there are loads of companies around like this) then the company would probably be sold for those losses. The price would be pretty low and the money would be used to pay creditors. I doubt that there would be anything left over for shareholders. The bank are not going to give them any more money due to their ability to lose the bank's money in the first place so they aren't going to trade. I suppose one of the next major events will be EVS delisting from AIM unless someone wants to buy them for the listing and then change the name.

"Following the disposal, Envesta is a shell with historical capital losses of 10.7 million, owing funds to the bank of approximately 900,000 (assuming none of the contingent element of the Seven consideration is paid) with creditors of approximately 170,000, and will therefore require the continued support of its bank and creditors. The Directors are at present reviewing possible alternatives for the Company and a further announcement will be made in due course."

on the plus side i understand an LSE listing is worth about 500k....an asset but a mere drop.

haystack
i appreciate what you say, and you have gone some way to redeem yourself in my eyes. the point is that many novices have lost a lot of money here. they are the future of investing and need nurturing. what is NOT needed is a bb full of " i told you this was shit " AFTER the event. ( i dont include you btw as you have been bearish as long as ive had this share ).

Impending news?

Remember DYOR

come on annbar--give us a clue!!

How long can shares be suspended for,anyone?

there is no time limit

I have seen AIM shares suspended for more than a year.

your money ( and mine ) is history......move on and get it back elsewhere......still hoping for a minor miracle tho.

hi superrod,what do you think may happen at best?,dont need to know the worst as that is OBVIOUS,thx

capetown
only have 109k, so really cant be arsed to bother with this.a minor punt that failed miserably. i put it down to experience.
at worst ZILCH
at best?......BT offers to buy for 100million.
sorry to be flippant, but there IS no best imo.its nothing or 100 times that....ie NOTHING
hope you are not too badly burnt here.

luckily bought 40ks worth of PRTY sub 87p on a T10.....still 6 days to close :o)))

a result AT LAST.

Thx superrod,good luck to you