Steerpike
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Post by Steerpike on May 11, 2018 11:53:32 GMT
Notwithstanding my current Archover investment status of "pause pending recoveries", I thought I would take a look at this new loan.
By the time I reached "directionally the business has been pursuing a fast-paced, high-growth strategy towards developing, marketing and selling" I had started to feel nauseous so I decided to do something else instead.
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liso
Member of DD Central
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Post by liso on May 11, 2018 12:30:43 GMT
Thanks Steerpike, you've saved me the trouble of reading it  |
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Post by dharm999 on May 11, 2018 18:30:10 GMT
Something seriously going wrong here, which worries me considerably, as i am in two loans. The financials are really badly worse than they were projecting a few months ago, I.e. how does a 500k profit turn in to a 1m loss a few months later? I am having serious doubts about Archover's DD process. My future investments will be severely restricted until I get some confidence back
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Steerpike
Member of DD Central
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Post by Steerpike on May 11, 2018 18:56:28 GMT
Presumably the decision in 2017 to take on £1.6m debt instead of raising equity would impact the accounts but I don't see how that directly affects PBT by that amount.
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Post by dharm999 on May 11, 2018 22:15:57 GMT
No doubt there would have been higher interest charges on the extra debt, but not to the extent of the change from a profit to a loss, makes little sense to me.
Hugo, can you shed any light on this?
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Nomad
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Post by Nomad on May 15, 2018 10:23:56 GMT
Something seriously going wrong here, which worries me considerably, as i am in two loans. The financials are really badly worse than they were projecting a few months ago, I.e. how does a 500k profit turn in to a 1m loss a few months later? I am having serious doubts about Archover's DD process. My future investments will be severely restricted until I get some confidence back Pleased to see this is filling quickly and therefore #5212, to which I overcommited, will be repaid!
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Post by stevepn on May 15, 2018 17:22:55 GMT
Something seriously going wrong here, which worries me considerably, as i am in two loans. The financials are really badly worse than they were projecting a few months ago, I.e. how does a 500k profit turn in to a 1m loss a few months later? I am having serious doubts about Archover's DD process. My future investments will be severely restricted until I get some confidence back I have quite a few thousand in this company over three loans, hopefully both will repay. I have lost quite a bit of confidence in Archover but I must admit their 100% non default record was a big plus but when two companies defaulted in a matter of weeks I realised that there is money to be lost. I still have quite a lot of money over about ten investments but thankfully most will be completed within six months. No more money will be invested in the forseeable future.
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Nomad
Member of DD Central
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Post by Nomad on Jun 4, 2018 14:52:47 GMT
Something seriously going wrong here, which worries me considerably, as i am in two loans. The financials are really badly worse than they were projecting a few months ago, I.e. how does a 500k profit turn in to a 1m loss a few months later? I am having serious doubts about Archover's DD process. My future investments will be severely restricted until I get some confidence back Pleased to see this is filling quickly and therefore #5212, to which I overcommited, will be repaid! Filled on May 31. "Important note to investors: this project is to refinance loan 5212 and will draw down by the 4th June 2018."
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