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!)

16.54 An interesting end to the day and somebody knows something. Will look forward to see what is announced tomorrow. Aroma.

jw deserves response to his questions. Info. please on Global Invoice Corporation. RNS reads more credibly than previous effort. Oxford Consulting man at head. Financial Analysts as co-signatories. Short implementation period, apparently by end-December, so not long to wait. We know that strength of earthport is in their IT systems and links to financial institutions so appears credible. Good to put this one to bed.

Eric

surely all we can hope for is contract wins and then pray they come to fruition. Well I do as i am not selling or topping up as I have said previous I hold 440k averaged at 3.25p approx. Have to be honest I am not even doing any research anymore on EPO as I will risk the downside. Is anyone going to the AGM?

EWRobson - 26 Nov'04 - 08:58 - 653 of 654

Thanks for your response.

I suppose time will prove one of us being right, however i have genuine concerns about what this partner can deliver including upfront payment, quite simply when one looks at this companies balance sheet it does not strike me they can deliver numbers mentioned in RNS but stress only my personal opinion.

After having spoken to a colleague who had spoken to epo they say that global invoyce corp already have 20 clients currently, also the statement made clearly states that epo will EARN a one off licence fee of 1.9m, and not be paid up front. So the the first 1.9m will go to epo and then it will be on a 50% basis. Epo say they have trialled the invoicing system themselves and it works well. So again no upfront money and hoping on the success of electronic invoicing which is requied in Europe, but not law in the uk. But with invices required to be kept for 6 years it is a nightmare to store and gain quick access.Mr Binnie is just a one man band, not able to find any history on him, but sounds genuine. I tried to speak to him and he said he could not without Rc being with him, so at least he has some ethics.

ssanebs

Good post! Keep us posted, please.

Good in that supports the genuineness of the situation: Binnie is real; the contract is clearly real; there are actual customers. Not so good is that there is no significant impact on cash flow. The RNS states: "... will earn a once only licence fee of 1,992,000". This is not inconsistent with the post but it ahs been written, I suspect, to give the idea of money up-front.

Can you shed any more light on the inter-consult deal? I suspect that the two deals are similar: with start up companies for whom a realtionship with epo is a WIN/WIN situation. Nothing wrong in that but it leaves the cash flow issue. I suspect also that we need to see that resolved before the share holds any advance.

Eric

ssanebs,

20 clients..annual t/o..is ? SFA , please check their accounts at companies house for details..

1.9 million ...where did this number come from?!!..(you get one guess), I think I will write a budget for a new business client today, and I will show that I will pay myself 5million (over time) based on these err 'projections...' hands up all those that think I have it about right?

Mr.Binnie is a 'one man band'...correct. And I and a collegue did speak to him, shortly thereafter when another poster over on advfn tried to validate my conversation, he was told that he had been warned not to discuss this public RNS (with contact details at the bottom) as they were in a 'closed period'.

Now how is this Global business going to grow from 20 clients (SME's) to the 2 million it will need to meet these projections (do the math..great exercise, could be more could be less, but hey my guesses seem as good as anyone elses)..

As for storing invoices..nearly all accounts packages can do this, and if you insist on having them in document form then almost all DMS and workflow packages will do it....including the storage (storage is very very cheap) the cost is SFA..(relatively)..average retrival time is less than 3 seconds..still you could call that a nightmare..A standard 80gb hard drive could hold upto 500,000 to 3 million invoices, depending on compression techniques and format..most SME's issue how many a year?

What MD/CEO do you know that cannot answer questions about their own business unless a 'suppliers' CEO is holding their hand..or if you were being unkind, pulling their strings? The answer would be, one whose business is not long for this world perhaps?

Please. Get real, step back and look at the track record here and then tell me that you believe every word you have written..Please tell me how much revenue you expect the last two deals to contribute over the next 3,6,12 months.

When a business is effectively a start-up, at best you can have hope, at worst look at the average life of a start-up and how many exceed...and please bear in mind XML, edi etc etc are not new concepts..go to talk to the companies that are actually doing it/selling it now..please check out how the competition are handling this..

I'll come back when I have stopped laughing.

Tradx - 06 Dec'04 - 20:49 - 658 of 658

BB posting of the year !!

ssanebs

Reply needed to tradx and jonny wilkinson! You've got a scrap on your hands (hope its not for the scrap-merchant!)

Eric

Shares repeat SELL recommendation for earthport (page 28). Fills in background re Global Invoice Corporation: Cunningham claims his company has 'restructured GIC and will increase its capital'. 'The 2m licence fee is not guaranteed, though Cunningham insists it will be paid by the end of 2005'. 'GIC has funding when its clients pay up ...'

Shares comment: 'The interim statement showed negative shareholders funds of 6.5m and debt of 4.5m. This is an exceptionally high risk investment'.

All seems par for the course. Market expectations raised only to be dashed. Cunningham clearly is the devil (although the devil may be more than Cunningham!). You almost admire the chap: better the devil you know, they say!

Eric

interesting article in this is money re BLM

Baltimore Technologies
BDO Stoy Hayward have been appointed auditors to Baltimore Technologies, replacing KPMG who 'elected not to review their appointment'.

Wonder why?

Amazing! try and work out these statements this morning. First he wants to take them to court then he wants to buy them.

if they buy them i am sure it will be for next to nothing.

well blm has 15m cash...unless they have done a deal between themselves to avoid the courts

ssanebs - 20 Dec'04 - 15:45 - 665 of 665

Where did you get 15m cash from, i suggest revisit balance sheet when it will show 23m+ cash plus 3m+ restricted cash.

Why do you believe Acquisitor would want to do a deal with BLM, read RNS released today 6.04pm, maybe that might help you understand why RNS's released by EPO this morning.

If the case is so compelling why results not released yet.

Do you believe 1.578m new funds is in EPO bank account yet or is it as RNS states, "completed arrangements" agreement is one thing, getting hold of it is something else

Rule 2.10 ? Issue of Equity ?

what's that all about then ?

Has Mr Cunningham been buying christmas presents and fancying taking more cash out of our co?

Or perhaps he's buying protective wear so that when they eventually get to having an AGM he doesn't suffer the same fate as the GLD director? :-)

Please help this confused novice

I'm bored, so Happy New Year to everyone. It would seem that rather a lot hinges on some fundraising - here's hoping we get some news about it over the next few days.

Sanebs - any news you have heard ?

happy new year also.............takeover.........can someone post the RNS......I have it but dont know how to...........what will this potentially mean for us EPO holders...........

A phone call to epo to peter chappell got a reply that the high court did not even ask epo to pay in the huge sum of 750 and the date to serve papers in is the 19/01/05. Fundraising is in hand and will be announced in the next 48 hours. They accuse BLM of trying to discredit them and force thge sp down..... they are doimg a good job. So if nothing is out by the 20th its all over for epo. I hope shares do a piece on this debacle of lies and more lies, and what will the sfa do about it? prob nothing

I agree ssanebs.............