Lets get real here.
A $1B business and a $1B acquisition and the business has negative cash flows.
The CEO said TRUST ME. WE KNOW THE BUSINESS BETTER THAN ANYONE on Quindell. They didnt get anywhere near guidance. They massively wrote down their investment.
They have a huge amount of abnormal and one off adjustments which is basically where Mgt strip out the bad bits as one off and keep the good bits in to inflate the price.
Mgt have zero credibility. I am holding as no point selling at this price. But seriously this business isnt worth anything if it cant even produce a positive cash flow. Its not even meeting its interest payments and net debt is UP even with a massively favourable exchange rate. And you are all talking it up - get back to reality. Seriously.
Lets get real here. A $1B business and a $1B acquisition and the...
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