Having previously noted that working capital is “tight”, I now note an announcement from mobile money company eServGlobal (ESG) that it has repaid an Australian$3 million (currently £1.6 million) loan due to National Australia Bank, but has needed to draw down £0.5 million of a new loan facility of up to £1 million with major shareholder Henderson “to meet general working capital requirements”. Hmmm...
Following recent news flow from eServGlobal (ESG), revised forecasts are now following, with working capital described as “tight”…
I previously updated on eServGlobal (ESG) warning of a funding crunch ahoy! HERE. The following updates with the shares now trading down at around 2p…
Having warned since more than a year ago now on shares in ‘mobile money’ technology company eServGlobal (ESG), I note a further more than 16% fall, to 3.875p, currently today on the back of a “Notice of EGM” announcement…
The announcement of an agreement with Armenian mobile financial service provider MobiDram for the 'HomeSend' payment hub joint venture it is a partner in has failed to impact shares in ‘mobile money’ company eServGlobal (ESG) – perhaps unsurprisingly after some massive forecast cuts last week…
Last week I updated on eServGlobal (ESG) HERE, concluding that ‘with HomeSend still having much to prove and there still clearly trading and financial difficulties for the core business, particularly ahead of a further trading update expected later this month, I remain bearish’. The shares are currently down approaching 25% today, at 5.5p, as guess what? …
Having warned at 27p HERE, 21.5p HERE and 14.75p HERE, I now update with shares in eServGlobal (ESG) at 7.5p following a number of recent announcements including that it “now considers there to be an increased risk that revenue and EBITDA will be below market expectations” and has agreed a loan from a shareholder to provide it with “additional working capital and enable its pro rata investment in HomeSend”…
My bearish stance on shares in dual AIM and Aussie-listed software for mobile financial services company eServGlobal (ESG) has proven correct thus far – with the shares down from an initial 27p and then 21.5p to a current 14.75p. The following updates with earlier-this-year appointed Executive Chairman John Conoley talking of “more rapid deployment times resulting faster conversion of projects to cash and higher margin support revenue”…
The AGM of dual AIM and Aussie-listed eServGlobal (ESG) has not gone smoothly – with an update that the company is currently trading in line only with revenues and EBITDA to be “at least equal to the 2014 financial year” and that “Resolution 2 (the Remuneration Report) did not pass” seeing the shares currently down more than 10% today at 21.5p. Having concluded in October that the declining share price – to a then 27p – looked perfectly understandable, the following updates...
Having announced after the market closed on 30th September, with its shares at 31.75p, that its Chief Financial Officer had sold all of his shares in the company, eServGlobal (ESG) has noted “the recent move in its share price” (closing at 27p yesterday) and “wishes to announce that it continues to trade in line with the board's expectations”. With the shares already down from more than 59p earlier this year, what’s with the share sale though?
