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!)

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

What you mean is the claim is all over for EPO. Your message reads like you are saying that it's all over for EPO if nothing out by 20th.

That's not what you mean is it Saneebs

Expect you have seen this :

Hemscott Hemscott Invest

Baltimore asks court to strike out Earthport claim unless costs paid
Website Fundamentals Share Price




LONDON (AFX) - Baltimore Technologies PLC said it has applied to the High
Court for Earthport PLC's claim against it to be struck out unless Earthport
pays 750 stg agreed costs and provides it with further details of its claim.

The former internet security business added that if costs and interest
remained unpaid, it would apply for a winding up order.

Earthport filed a 13.5 mln stg lawsuit against Baltimore in July last year
for alleged fraud and breach of contract relating to contracts signed in March
2001.

The group, which provides electronic payment systems, was also set to bid
for Baltimor.

In an update on the possible bid, Baltimor said no offer had been made to
date despite Earthport's announcement in December last year that it intends to
bid for Baltimor.

The Takeover Panel ruled yesterday that Earthport must announce a firm
intention to bid for Baltimore by noon on Jan 31 or make it clear that it does
not intend to make an offer.

newsdesk@afxnews.com

ssanebs - 18 Jan'05 - 10:37 - 670 of 673

Did you speak to PC personally, do you believe what he told you or someone else. I'm amazed Peter is confirming new funding should be announced to market within 48 hrs, RNS confirmed DD would be completed by 10 January and 8 days later we're still waiting, who on this earth would consider investing new money and on what terms with sackfuls warrants thrown in, i'm afraid its beyond me.

As for 750 payment due to BLM, Chappell suggests not of the view it had to be paid, well tell me on what basis did PC think High Court issued award in favour of BLM. Remember Peter Chappell is a director of several EPO subsidiaries inc EPAL where the Singapore investors are involved, i wish PC would do honourable thing and resign from this debacle ( in my opinion )

jw

i did speak to him personally, and no i did not believe him. Him and RC are both guilty of lying i will look forwrd to forwarding tapes of the lies they both told me over the past year if they fold. and yes i do believe if no news by 20th i will have lost 50k...an expensive lesson. Im relying on seo to get it back for me!