Steel E Dan View Profile | Add to favourites | Ignore
Date posted 2003-11-07 09:21
Subject QXL eats it's own tail
Opinion Strong SELL
Recommendations This message has been recommended 9 times
Message
So the 'pan-european' auction company eats some more of itself to fund it's day to day running expenses. Turnover is still down. Granted costs are down and it is just possible QXL may squeak through. BUT the bonds are now coming into view. 430,000 more shares to be issued to convert the existing bonds + another 360,000 to pay the annual coupon on them. Result? A large viable cornershop with a huge number of shares and a turnover so dwarfed by existing debts that current shareholders will not see a return for decades if ever.

TIME TO BUY QXL BEFORE RESULTS IN MID OCTOBER...THE MAESTRO KNOWS