Some good news at last from this weeks Shares mag. Tim Freeborn revisits the company and altho no firm details are given about new deals he says they will be announced this quarter. I would think that this could be at the same time as the interim results are announced. I for one will be holding on cos they will fly sooner rather than later! ( 8.30% up today!)

ssanebs. do you know what epo told its large shareholders?

Bos

Ssanebs made it clear that the company werent going to release any info except thru regulated sources in future! We all know that previous rumour-mongering was what caused alot of dissappointment at last results, let alone the fall in share price! Im sure we will be updated in due course. If you cant wait that long, several ADVFN EPO thread contributors are going to the Shareholders meeting tonite- so watch the BB's for feed back!!

interesting toon. feels like what goes on in my head when i am lying awake at night , time to buy or time to sell , no , buy , no, sell .........arghhhhhh!

before anyone complains about the standard of posts on this thread , let me just say this ... not a lot else is going on with epo at the moment so we are just amusing ourselves.

bosley , you say nothing is going on - but the shares still go down.
someone said tonights meeting will be on web cam - how do we veiw and hear it ?

A3

Yep i heard same on ADVFN thread but i have no idea who or where its broadcast from. Dont think ADVFN are covering it- maybe EPO'S own website??

There is no webcast.

I did attend the meeting, as you might expect.
The chairman did warn several times that the company had moved from a 'salvage risk' but was still a 'venture risk', not an 'equity risk.'
That caution did contrast pretty starkly with the message from Rob Cunningham and the rest of the team.
The finance director forecast positive cash flow in the third quarter.
This is later than expected because the company delayed the launching of 13 smaller contracts in order to upgrade capacity. A new version of the software, EP5, will be launched in Q3, which will raise capacity again.
The Chinese contract starts generating cash in July. Already over 800,000 cards have been issued. The Chinese government intends to roll them into southern China. They will include three biometric measures. Earthport is not guaranteed the payments contract in Guangdong but seems very likely to get it. The province has over 40m transient workers who the Chinese are having trouble taxing. ID cards are really tax cards.

In the UK, Earthport is still negotiating four 'blue chip' contracts. They are 95% there, Cunningham said. (We all know about that last 5%.)

In the next two weeks the company will announce the launch of ensurepay in the US, via a partner. This is its answer to Neteller which makes nearly all its money from its instant credit product.
The truth is, cash in and out for betting has been okay but not spectacular. The Neteller product offers something new: ie no delay, lose your money straightaway and pay 7% to Neteller while you do it.
If Neteller can, why not Ensurepay/Earthport?

In July there will be a broker note from Bridgewell, Cunningham said, presumably to coincide with the Hongkong launch.

A City marketing exercise will launch in September.

The US acquisition is held up by banking regulations.

Earthport has issued papers against Baltimore to recover the 5m it paid for a security system that never arrived.
It will sue Egg for 10m as soon as Prudential finds a buyer. The aim is to force the matter to a conclusion as part of Egg's sale.

Cunningham reiterated there will be no rights issues or further fundraisings, though he will use paper for the acquisition.
His relationship with Earthport has been regularised. He acts directly for the company rather than through his rescue/management vehicle.

That's all I recall of substance.

Tim

Cheers tim! Does sound encouraging overall, apart from the betting income bit!!
Jam tomorrow i feel!!

Thanks Tim

Thank you for the information. Seems time to put my holding in the bottom draw and keep taking the pills.

Interesting reading - thanks Tim.

yes,
I still hold 1.2m shares and I think I would not be able to sell without first changing my recommendation on the company.

are you going to be a regular on this thread now , tim?
by the way , enjoy your column in shares and use your tips as a start point.

tim,
was the overall reaction to the shareholders meeting favourable, or was there a general discontent over the presentations?
I've been holding these shares for a good while now with promises of imminent major contract wins and ramping up of vast spare capacity. Will the extra 5% ever be acheived in your opinion?

Thanks Tim for the info and participation. It's very re-assuring to know you're in the same boat as the rest of us!!!!!!!

Tim

Hopefully that means that you wont be changing your recommendation on the company as a result of what you learned at the meeting!!! I still feel that the fun will start soon as an awfull lot of contracts seem to be going live or are about to. Maybe we bought in a year too early!!

topped up this morning. its definately promising and there is little else to buy at the moment with the risk/reward epo gives

SS

Well done, (yours were the early 100000 buys i take it) as i said before definately worth topping up at these levels as they wont be here long. Im currently holding close to 4mil. Anyone else on this board share my faith with a mil+ holding??

I share your faith jdubb, just haven't got your kind of money!! :-)

B

Cheers mate and thx for representing this bb and the ADVFN one at the meeting. IM off to nxt year's one to see how my investment got to such a ridiculously high price (hopefully about 10-15p)!!!!! Now at that price i would be rich!!!