Good morning, from the wind-swept south coast! I see that Globo (LON:GBO) has taken the unusual step of announcing its intention to publish more information about its working capital, and the disposal of its Greek subsidiary. That seems a good idea to me, and they note that it follows questions from investors at three recent events where Globo has done presentations.

A friend kindly emailed me a copy of the latest note from RBC Capital Markets (they are the house broker) on Globo, which certainly seems to present plausible explanations for the high level of debtors, and poor cashflow. However, to my mind, the Balance Sheet just doesn't look right - there are lots of unusual debit items, and when you have to keep explaining away multiple peculiarities in a set of accounts, there comes a point where you decide it's too high risk. I may be wrong on this company, and it's entirely possible that everything is fine, but there are enough peculiarities to mean that, for me (and it's only a personal opinion), the risk is too high.

Anyway, it's a sensible initiative to publish more detailed information - the more information we all have, then the better decisions we can make.

 

 

 

 

PuriCore (LON:PURI) announces a positive Q3 update. They have delivered strong Q3 sales, up 33% to $14.6m, although year to date turnover is only up 6.5% to $38.7m. They report being EBITDA positive for the nine months, although not how much, so I assume it must be fairly marginal at a guess? Cash was $5.8m at 30 Sep 2013.

I've held shares in this company for some time, as it looks a good turnaround situation, from previous disappointments. Although to my surprise, the shares do not seem to have caught the imagination of the investing community, as of yet. This is despite the fact that they have a good story to tell, both in terms of an innovative product, and improving financials.

 

 

 

 

I'm absolutely staggered at the size of price moves immediately after newspaper and magazine tips. This is real mid to late stage bull market stuff. An example is Northern Petroleum (LON:NOP) which…

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