UK 19:31 Tuesday, 27 October 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
In the BearCast of Friday I suggested that Coms should have settled £825,000 to Ian Smith’s Castleton on 5 November. Dave Breith of Coms has emailed me to clarify.
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Comments
Martin
Presumably they still have access to the £2.5m overdraft facility which doesn’t look like its been used as yet in the Interim statement
Page 16 of the Jan 2014 full year accounts
“The Group has the benefit of a £2.5m uncommitted overdraft facility. At the year end this facility was undrawn.”
Andrew
Tom, I have followed you with interest regarding your QPP writings and I think you have many valid points. But I think you need to grow some balls and at least apologise when you are wrong. Many people would take you much more seriously if you did. If COMS as you still claim to have such a thin balance sheet position why on earth would they pay under a settlement agreement 3 weeks early? Surely preserving cash as long as contractually possible would be the sensible thing to do? Finally if COMS are maintaining or settling a liability early what is the reason for an RNS? Surely one would only be needed if a contract had changed for the worse or not been met?
wildrides
They should have announced the early repayment by RNS . It smacks of the usual arrogance of dodgy AIM directors when they are supposed to be working for the share holders . Any company which had or has a Drummond as a director is barge pole material . Clearly not a fraud , but dont expect this board to tell you anything of significance before its become too late for you to act and modify your holding accordingly . You will be the very last to know .
Hamidahamida
Tom I am bit disappointed and my confidence in your research is dented you should’ve clarified your insiders info with coms before making it public made you look like the morons you hate
Sillytrader
Well I personally think it was good of you Tom to highlight this payment, but I must give credit to David Breith who took the time to clarify the situation.
The LSE BB strong buy COMS family head 4Petesake (strong buy since 10p!, how much has he lost now!) who wrote to David Breith asking for clarification is now of course taking advantage of this moment to discredit both your business and yourself on both the LSE BB for COMS and QPP, encouraging users of these boards to continue to insult you and your business
I assume David Breith of COMS will undoubtedly be quick to condemn such actions like this from his share holders.