Forum Archive Index - September 2003

[Robin Benson <rob@hammerheadmedia.co.uk>]

It's by no means certain that Direct Broking (indirectly, DPC) haven't 
bitten off more than they can chew, or swig for that matter, in 
underwriting this issue.

The 42 Below prospectus is quite slick. Visually that is. Their website 
lacks zest and looks expensive - perhaps this is an indication as to 
how they run businesses? I agree they need to be image-makers, but in 
the drinks market, marketing needs to be second-to-none.

Robin

On Thursday, September 25, 2003, at 01:39 AM, Fiona Phibbs wrote:

> Hi James
>
> The only ones that will be getting rich here are the original owners 
> who get
> free shares for a company whose liabilities are greater than its 
> assets!
> The price to sales multiple is off the scale, can't value it with a PE 
> as
> they have no earnings!  And I thought it was 2003 not 1986 - must be 
> in a
> time warp.  The only worrying thing for me is that I own shares in DPC 
> who
> own the subsidiary underwriter and promoter, Direct Broking and who 
> have
> stated that there is "considerable interest" in the float. Joe public 
> must
> be drinking too much of the companys product.
>
> Cheers Dean


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