8k Miles Software Ltd, Cloud Computing


(cadeval) #418

I also called up. They are saying that the date would be announced today or on Monday. Also, asked if there is anything to worry about but they informed that there is nothing to worry about.

I think there is some bad news for traders and good news for investors. :wink:


(Rudresh) #419

They said same thing to me as well. They said they are working with Deloitte and vl publish post conclusion with the auditors. They refrained giving any hints about how the result will be.


(Chirag) #420

Since last Monday they have been saying today or tomorrow MAX.

Today they are saying the same – Today Or Monday. Essentially they are just bullshitting. Going by the trend, on Monday they will say the same.

This is pathetic.


(Chirag) #421

Have been trying to call the company for the past half an hour. No one is taking the call.

:-1:


(Manojlion) #423

I was about to ask the same thing. May be news of " Delay of Consolidated annual report " has reached the market.

By the way ,I am new to this forum and Value Investing.
Have been learning a lot,by reading through the various company threads

Kudos admins


(Chirag) #424

I doubt the news about the delay is results has reached the market only today.

Most people holding/following this company were aware about the delay.

It is very irresponsible of the management to say the least. Also not taking the calls is the last nail in the coffin.


(Manojlion) #425

Yes ,disappointed to say the least. Wondering if SEBI have any norms on the Dates of publishing of AR . Just wondering


(Madhab) #426

I also tried to call them Today but they are not picking up now. Very pathetic from invester point of view.


(Dhiren Shukla) #427

Management should come out and clarify the issues.Should also declare name of their few customers.


(roy) #428

Any idea then what could be the reason of such a fall, if not the news of the days (which anyone owning this would have been aware of)? I have a small (ish) position that I’d entered based on the recent fall and I’m sort of tempted to write it off.

What are your plans? (Guessing you own some of it)

Cheers,


(Chirag) #429

I dont want to take any decision on a hurry. Only reason for this fall that I can think of is management being totally non transparent about the consolidated results. But then I am a retail investor with limited information sources.


(Chirag) #430

They have published the list of their customers in the last few weeks. I dont think the was enough to instill any confidence in the investor community.


(phreak) #432

Nothing about this company felt right from fundamentals, language in AR, cash flows and of course the subsidiaries generating almost all the business, the dividend issue and so on. The last time some of these negatives came up (sometime last year), the management was on CNBC and sending dispatches about meeting investors and the price was pumped up. The management was pledging, selling shares all through 2017, cashing out. I suspect the endgame is now near. Won’t be surprised if the Indian auditors lay the blame squarely on the auditors of the subsidiaries and wash their hands off. The only way for them to prove the earnings numbers are real is by paying a dividend from the cash they claim to be present abroad.


#433

Information has always been available, but it requires spending time going through ARs.
Try and focus on the capital structure and see where does the money comes from and goes to.

8k mille’s original name was Rosebuds Commercial till 2009 and after that P M strips .
8k miles name was finally chosen post re-listing on BSE in 2011.

Go through ARs of 11-12,12-13 and 13-14 things will become clear on how capital structure evolved.
Promoters got fresh shares issued to themselves at a premium (non-cash consideration) , through their share holding in mentor minds inc. USA and mentor minds solutions and private limited (pg 84 of AR 11-12)
The securities premium boosted reserves were then used to extinguish accumulated loss through bonus share issue in 2012-13.

2014 is when the share caught market fancy.



(Jiitt007) #434

Same author on same time,Different view really interesting.


(Madhab) #435

Finally the announcement appears 9100e815-a666-4592-89dc-f39395d98d19.pdf (93.8 KB)


(Chirag) #436

17th July after market hours.

Sadly it was 1 day too late for many people. Let’s see how the market takes it.


(Rohit) #437

It seems like the announcement came because of yesterdays lower circuit only. May be company wanted to give some comfort to investors in order to avoid any other steep fall like yesterday. But still 17 July seems too far now , seems they announced this just for sake of giving a temporary relief and to avoid panic amongst investors.


(Manojlion) #438

Am not sure if the announcement is helping rather .12% down today as of now :frowning:


(Chirag) #439

Problem is the the management is not closing its insider trading window as soon as it announces the date!