....talking of fundamentals..............

Sorry chaps - been watching MEO on the sidelines since its "far from grace" but couldn't help noticing in their accounts an FX loss in excess of $1m - almost wiping out their gross revenue - not from trading but from interest received - and not even a note in the accounts for any form of explanation.

I have bought shares so am concerned at this .....does it show a lack of financial control ? Hedging FX can either be done via the banking system or via a prudent use of cash - eg if you know your liabilities are going to be in a different currency you plan for it - its finance accounting 101 - its prudent management. With the salaries showing next to no expense - it shows there are limited resources - but finance is the lifeblood of any business - and they are looking after OUR cash. So what and who are we actually backing here......management and tenements - the first I have to question so its the second we are backing .........I really hope it is a winner but at 32% success chance - its difficult to make a rational decision based on fundamentals.

Is MEO just froth and bubble and a pile of cash?

I hold because there will be price and volume action - not becasue of the fundamentals - there are better options out there.

Don't get me wrong I want MEO to succeed - as for long-term .....there are better options

Just my thoughts - not trying to downramp - just seeking to inject a little reality check.....