greenslime
Member of DD Central
Posts: 111
Likes: 144
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Post by greenslime on Dec 11, 2017 19:09:43 GMT
Head says no.
Heart says mad, beautiful thing worthy of a very small investment.
Will see which organ is ascendant tomorrow.
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wilja
Posts: 20
Likes: 19
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Post by wilja on Dec 11, 2017 20:21:58 GMT
I am struggling to see this boats place in the world.
It does not carry many people for it size, it is only really designed to go in a straight line and must be awful at turning, boats pay mooring fees on length and these are very long with no capacity for their length. I just cannot see a market for this at all and feels like a concept only.
If it is a sports boat what sports can it do other than straight line speed.
I wont be investing as you may have guessed.
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stevio
Member of DD Central
Posts: 2,065
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Post by stevio on Dec 11, 2017 20:33:30 GMT
Loan payback and interest during term dependent on sales of a prototype product. No current order book. Imagine sales and marketing costs would be huge considering the target customer. No idea of the marketplace, but imagine there are some pretty hefty copetitors wanting this premium market with some large backers in tow
Current loan being paid back (£200k) to a shareholder. Why do they not want to transfer this for equity, if they are confident in the product? or subordinated to this loan to show confidence? There seems to be a transfer of risk to current investors
£200k of loan for working capital. Wondering if some of this will be used for interest payments?
70% LTV on a difficult to value asset
I prefer the other yacht, at least it was amortising, older so lost depreciation already and a recognised model and brand
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hazellend
Member of DD Central
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Likes: 2,179
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Post by hazellend on Dec 11, 2017 20:34:54 GMT
Loan payback and interest during term dependent on sales of a prototype product. No current order book. Imagine sales and marketing costs would be huge considering the target customer. No idea of the marketplace, but imagine there are some pretty hefty copetitors wanting this premium market with some large backers in tow Current loan being paid back (£200k) to a shareholder. Why do they not want to transfer this for equity, if they are confident in the product? or subordinated to this loan to show confidence? There seems to be a transfer of risk to current investors £200k of loan for working capital. Wondering if some of this will be used for interest payments? 70% LTV on a difficult to value asset I prefer the other yacht, at least it was amortising, older so lost depreciation already and a recognised model and brand The other yacht is also amortising. This one is too risky for a significant sum for my liking.
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bazoftsrevenge
My glass is neither half full or half empty it is simply twice the size it needs to be.
Posts: 7
Likes: 3
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Post by bazoftsrevenge on Dec 11, 2017 20:48:28 GMT
Looked at this lenders accounts submitted to Companies House and I think I have more Capital than this company. Not an investment for me.
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blender
Member of DD Central
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Post by blender on Dec 11, 2017 21:14:52 GMT
I think it is really excellent that a delay before the start of bidding has been applied to this loan.
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blender
Member of DD Central
Posts: 5,719
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Post by blender on Dec 11, 2017 21:18:21 GMT
Head says no. Heart says mad, beautiful thing worthy of a very small investment. Will see which organ is ascendant tomorrow.
We all have many organs. Please spare us from the outcome.
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rick24
Member of DD Central
Posts: 244
Likes: 138
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Post by rick24 on Dec 11, 2017 21:37:23 GMT
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Post by dan1 on Dec 11, 2017 21:55:31 GMT
/Mod hat on
Please don't name the borrower of this loan or post links that identify the borrower, thanks.
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sarahcount
Member of DD Central
Posts: 359
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Post by sarahcount on Dec 11, 2017 22:39:49 GMT
This doesn't sit right with me. Looks much more of an equity proposition than a fixed interest loan.
I know nothing about yachts and quite possibly it may transform the industry and be a huge success. Or it be a total flop.
Great success means that equity investors drink champagne for life. I get my 12% return.
Failure means I will very likely lose all my investment as security asset with be a piece of scrap with no buyers or warranty.
For P2P loans I don't want to have to think 'what would Peter Jones do' or try to decide if Russian oligarchs will love the new technologically advanced concept or steer clear of what they might think is some embarrassing craft thought up by some British crackpot inventor.
Good luck to everyone in this loan, and I might take a small token to remind me of my evening's DD reading boaty review sites, but I'd rather stick to loans that are a bit less ambitious and where the value of the security can be more accurately assessed.
Sarah
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rgog
Member of DD Central
Posts: 95
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Post by rgog on Dec 12, 2017 1:12:38 GMT
The technology looks interesting (but so did Beta-max, for those of us who can even remember it) unfortunately a great technology does not guarantee market success. This is very high risk with for us a very modest return compared to the risk profile. I agree with comments above this is more an equity proposition. Much though the technology concept appeals (and the research and IP may have other uses) I do not think this risk is sufficiently compensated by the return. With my "Boys Own" hat on I love it!
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shuff27
Member of DD Central
Posts: 90
Likes: 100
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Post by shuff27 on Dec 12, 2017 7:05:54 GMT
I let my heart rule my head & invested in the FS powerboat - big mistake. I'm leaving this one well alone.
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Post by Deleted on Dec 12, 2017 9:00:06 GMT
I am struggling to see this boats place in the world. It does not carry many people for it size, it is only really designed to go in a straight line and must be awful at turning, boats pay mooring fees on length and these are very long with no capacity for their length. I just cannot see a market for this at all and feels like a concept only. If it is a sports boat what sports can it do other than straight line speed. I wont be investing as you may have guessed. With the built in jets it can turn in its length.
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kaya
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Post by kaya on Dec 12, 2017 9:09:16 GMT
Head says no. Heart says mad, beautiful thing worthy of a very small investment. Will see which organ is ascendant tomorrow. I see no beauty at all in a noisy rich man's toy. There are better ways to travel on the sea. Good luck if you want to invest in a 'theory'.
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Post by nomnom on Dec 12, 2017 9:20:34 GMT
Great looking product, but business feels very startup in nature, I wonder if they have already tried to raise equity finance. Not a debt investment for me @ >70% LTV
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