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Paul There's a 70 pager by Liberum on RT on City Pub. David Bruce is fully committed elsewhere, including West Berkshire Brewery and a Downing pub thing. He is leaving it to his long time partner, Clive Watson.

Paul It's been a bumpy ride with some not very good directors during this period. I think I also had to put money into a cram down round here to avoid being wiped out. However, you shd not tar the current CEO with a 15 year brush. He has built a much stronger team around him and won lots of pretty fine clients. He has…

The EPO market cap is wrong on Stockopedia. More like £75m so with £14m of cash just now, this is £60m EV and if they do £30m of transactional revs next year, this would put it on 2x revs. Q1 has 2.3m transactions at the average £3.12 per tx, so revs of £7.8m ish which seems to support a decent uptick in revs for 2016/17.…

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