sirius
Member of DD Central
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Post by sirius on Aug 24, 2017 19:39:10 GMT
Hi
Having read through the documents, especially the Profit/Loss statement for September last year showing nearly a quarter of a million pound loss in that month alone, I find it somewhat laughable to see the statement from someone at Assetz nearly one year later:
"....Steps taken by the Directors
The Directors have been quick (emphasis mine) to identify the delays and have responded to the issue by taking the following steps:........"
Admittedly, they did make £40k profit in June this year but they have a long, long way to go to get anywhere near their loan repayments.
What are other lenders views concerning the deferred payments on this loan?
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Post by Ton ⓉⓞⓃ on Aug 24, 2017 22:01:12 GMT
.... the Profit/Loss statement for September last year showing nearly a quarter of a million pound loss in that month alone, I find it somewhat laughable to see the statement from someone at Assetz nearly one year later .... Any idea what the predicted loss (or cash burn) for that period was meant to be, I've not had a chance to check yet?
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angrysaveruk
Member of DD Central
Back and to the left..
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Post by angrysaveruk on Aug 30, 2017 14:57:59 GMT
What I find interesting is that AC decided to get some Management Consultant to no doubt do some highly expensive analysis of the business and we are not allowed to see it. A quick glance at the accounts looks like a company with large overheads that is struggling to make enough revenue to cover these costs. If they continue to leak money something needs to be done.
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angrysaveruk
Member of DD Central
Back and to the left..
Posts: 1,016
Likes: 646
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Post by angrysaveruk on Aug 30, 2017 19:20:23 GMT
I have a small holding on this loan the security on it is a joke. WIP ie future profits is the security.
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angrysaveruk
Member of DD Central
Back and to the left..
Posts: 1,016
Likes: 646
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Post by angrysaveruk on Sept 1, 2017 10:39:39 GMT
Loan is now unsuspended and I have sold out. Going to do more research before I select my loans in future.
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james21
Member of DD Central
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Post by james21 on Sept 1, 2017 15:24:08 GMT
I too sold out of this one a couple of weeks back, did not appear to be a healthy company and based their business largely on securing wins on PPI claims which must be diminishing by now. Surprised I was able to get out
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Post by crabbyoldgit on Sept 1, 2017 19:06:19 GMT
Got out an hour ago ! thanks to the buyer . Over all I am having a major revamp of my portfolio , in the past i would not invest under 9% but now I am filling up on a much more diverse 8% range,as a non tax payer 8% net is not to be underestimated and my first ever loss is coming soon.The practicle effect of a capital loss on the over all return has been a bit of a shock. my aim is to get to a max 1% per investment limit soon and then try and work around sector diversification , but that is a minefield,if the sector is non property but the security asset is property, well its not diversified from a property crash is it.Any advice how to get around this would be welcome.
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