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!)

OK, I'll spell this out one more time. Regardless of what you have read here before, Shares reporters will not enter into correspondence or discussion about the content of the magazine unless it is via the Shares letters page. It is therefore unfair to post a criticism and berate them for not taking part in the discussion. This is our policy. End of discussion.

Shares ed

I have been in support of TF but with posts from the editor like this makes me wonder whether I was correct in my judgement. If it was not company policy for journalists to write here and TF should not have done so in the past then write that please.......posters only berated TF because he appeared and posted about a post office deal etc.........and then disappeared again........

Oneill.......be mindful that the editor has maybe bought shares in EPO as well!

There is no link, this is the only mention on the page.


APPLICATIONS BEFORE QUEENS BENCH MASTERS
ROOM E102
Before DEPUTY MASTER NUSSEY
Thursday, 12th August, 2004

At 11 oclock
The Mayor & Commalty & Citizens of London v- Senghore
Earth Port Plc v- Baltimore Technologies

Re Shares Magazine Editor & Tim Freeborn

I don't wish to comment further at present other than remind everyone what i've had to say on the story to date, however i believe i've been totally vindicated on everything i've posted in view of todays statement from Editor, i plan to comment in more detail at a later stage when appropriate.

I think we should be told if other staff purchased shares in EPO other than TF.

Regards

JW

This is my first post to an interesting BB. There appears to be a lot of heat being generated, perhaps understandably, by the situation - a lot of people including myself are sitting on significant losses. I would make three points:
(1) Shares mag, including Jeremy Lacey and JF are very much on the side of the small investor. Take this week's comment that 'trading statement this week is encouraging'. So you ask: 'what trading statement?'. They have seen a trading statement that is not embargoed, although not yet published, and that is helpful to me as an investor. So JF has been open in his comments and perhaps trespassed on the limits of journalists license; but he has been doing this in his role of helping the investors who read his magazine. So Earthport have a CE who is not particularly wise in claiming as win situations which are not yet closed. But any of us in business has experienced that and probably made such claims ourselves. As an investor, once I suss out that tendency I factor it into my assessment. I reckon we are bloody lucky to have such a good information source.
(2) If a journalist makes a recommendation, I do not make a decision on the basis of that investment; what I do is to study the evidence. I bought Earthport because I was impressed by their interim report which demonstrates that they have achieved technical and marketing breakthroughs in a potentially very lucrative market. OK, some of those statements were overstated, but the key thing is to await the next firm evidence.
(3) Having said that, I have sold quarter of my earthport holding today. The reason is that my three current holdings (Earthport, ASOS and Alizyme) are competing against each other. ASOS have doubled whilst Earthport have halved, which interestingly is a 25% gain overall. I am very confident that ASOS will double to 1 in the autumn (see my comments on the ASOS bb); I am reasonably confident that earthport will recover to 3p. The key in both cases is the capitalisation. ASOS are capitalised at just over 30m plus; their brokers, Seymour Pearce, are forecasting 67m by the year-end; that figure is low in the light of the current rate of growth and cash generation. earthport are capitalised at some 8M; low compared to the value of their firm contracts with Sportingbet, etc., Wannadoo and in Hong Kong. I'm not as certain that they will hit 15M this year because I haven't got decent figures to base projections on. But I am holding the remaining 75% of my portfolio.
So please accept that we now have a better basis for holding; the story is still as strong; the key question is whether the management can prove themselves. The lawsuit is a potential bonus; I doubt whether it is distacting the management from their primary task.

EWRobson,

Excellent post. Your thoughts and stance is crystal clear, as is (to my reading) your balanced views.

I too try and in the main to do my own research, and in the main I came to the conclusion that the biggest drawback with epo was the 'over-promising, and under-delivering'. If they can reverse that, then anything could happen.

Tim, is clearly closer to the action than any of us, and when he started taking the tone he did about the ceo and the 'deals', he really did in many eyes lose his credibility as a financial journalist.

I make your call right on ASOS. If you are right about epo, then a whole bunch of us will be joining you and going long.

Lets hope that the trading statement is clear and unequivicol, and puts to rest the fear that they are running out of cash and may need to raise significant funds soon. ..

I wish you luck.

EWRobson

"I reckon we are bloody lucky to have such a good information source". ->>> i take it you mean bad luck when you are 50% down!
I believe some folks have been shown done deals in writing before but as of today have not been closed yet/did not exist in the first place, so the same can be said for a trading update! Tim if his claim is right would have seen that update on Tuesday at the latest before going to print so if the update was typed up why the delay in issuing an RNS?

Tradx - 13 Aug'04 - 07:12 - 479 of 481 & EWRobson - 12 Aug'04 - 21:14 - 478 of 481


Take this week's comment that 'trading statement this week is encouraging'. So you ask: 'what trading statement?'. They have seen a trading statement that is not embargoed, although not yet published, and that is helpful to me as an investor.

..............................................................................

For the avoidance of doubt, was Shares magazine shown a copy of a trading statement no later than Tuesday which is not embargoed, yet EPO have not issued an RNS to the market, if true i consider this a very serious offence, in fact i plan to contact FSA to ask their opinion.

Some of what you guys write is very amusing, do all research you like, competitors valuations, technical analysis, listen to RC at private shareholders meetings re order pipeline / dealflow. I think one should analyse actual revenues, cost base, cash position rather than all the hype which surrounds this stock. I'm on record as saying the best way to shut me up and generate shareholder value is to deliver on their promises, if they do everyone will win for sure.

I'm aware one market maker has an order to fill at 1.5p in order to support price, bearing in mind comments in Shares magazine recently when RC is supposed to have mentioned there is someone shorting stock then in my opinion this buyer is someone close to the action to help support price , once order is filled, price move up on ' Encouraging Trading Statement 'hoping shorters will be caught out, maybe this explains delay in issuing official Trading Update.

As usual don't accept my word, do your own research.

oneill,

as always, think peeps are trying to see if their is any substance in the latest rumours, i.e. 10 million share buy attempt and a trading update..so far both look like more of the same old BS (well done ED.)...

I'll keep popping in, one day one of them must come true.

Be lucky.

oneill......I now have to agree with you.......TF has to clarify the situation as something has gone terribly wrong with the communication of his information. It's not ok for JLacey to write he can't comment.......he wrote on this BB and in the magazine and he needs to give his comments ASAP. I did not invest in this company off TF's article and I still have hope for the future but journalists need to be accountable and if need be hold there hands up and say sorry I was misled...if that is the case.

There is no point selling at these stupid low prices.
Thanks Tim i bought 1 million Share at 3.5p on your article.
RC give us some positive news!!

edited by moneyam for abusive language

Given that we can safely assume Messrs. Lacey and Freeborn read this thread, may I suggest the whole subject of the rules and restrictions surrounding what financial journalists can and can't say, be the subject of a full length article in Shares magazine soon?

The rules for their writers trading in shares is in such small print, there is a good reason for going through the rules of those too. There should also be a section dedicated to what companies' responsibilities and guidelines are when briefing journalists. (I always thought management were not allowed to give privileged briefings unless the audience were covered by insider status which seemingly was not the case here). So what status does cover writers for Shares magazine?

I'm really sorry for all those who have lost money on this share and Tim Freeborn will have a hefty loss too so he can identify with the pain of other private investors on a personal level. I used to think it was not good news for journos to hold shares at all, but after watching the EPO story, I've changed my mind. They should all HAVE to buy their own tips with their own money!

I am holding this shares because I do not believe TF's prevarications. I am however cancelling my subscription to Shares M.

if earthport were paid for transmiting bullshit instead of cash the share price would be 10 by now

I am afraid that the personal attacks on individuals on this particular thread has gone far enough. We have therefore edited some posts as we have had a number of complaints of abusive language.

We have been very liberal in letting you have your say about articles written about the company but when these postings border on libel we have to take some action.

Shares Magazine and MoneyAm operate very strict codes of conduct in relation to staff /journalist share purchases and these are adhered to.

If you have any issue in relation to Shares Magazine, the correct proceedure is to write to.
The Editor
Shares Magazine
Thames House
18 Park Street
london SE1 9EQ

If you have any question relating directly to Earthport and its announcement(s) or lack of them, then these should be addressed to the CEO at Earthport:



Mike Boydell
MoneyAM

remember it was RC who gave the predictions, so you should all be calling the EPO office on 02079071100 and ask him why so much crap has been told to TF. or does he reallY talk out of his ass! I cannot ring him anymore as he will not talk to me anymore. REMEMBER I HAVE HIM ON A RECORDING LYING ABOUT THE US DEAL TELLING ME IT IS IMMINENT AND THEN SAYING HE DID NOT SAY THAT.

my faith is resored in TF to give an honest update..........thank you........although i hold 500k shares I am pleased a sell note was posted and the write up was fair. I continue to hold and believe my investment will turn around. I still think we need to look at how the shares magazine has conducted itself during this process and I think Jlacey should look at the post he put on which was insulting to those open minded investors like myself.......mistakes have been made in my view. Now come on EPO get your arse in gear and put some info in the public domain......