Sunday 22 July 2018 | ShareProphets: The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares
Today’s short but disappointing trading update from the jokers at Boxhill Technologies (BOX) could indicate that the past is beginning to catch up with these guys, particularly Phil Jackson. The share price has plummeted by 50% as a result. Let’s take a closer look.
I’m slightly surprised that I haven’t commented on Boxhill Technologies (BOX) this year as it was a favourite of mine in 2016 and 2017 but I have managed to access new information that is shocking even by Boxhill’s standards, namely Phil Jackson’s director disqualification due to what looks like a slam dunk VAT fraud.
It’s satisfying that my request for clarity and transparency at the start of the month HERE led to a further RNS this week from Boxhill Technologies providing further information. What is less satisfying is the fact that it was utter nonsense. How did you sign this off, Allenby?
Tom covered some of the “highlights” from the interim results of Boxhill Technologies (BOX) yesterday in his Bearcast (HERE) but a couple of points are worth reiterating and he missed the biggest red flag of all in my view, namely the £3 million owed by the former CEO, Phil Jackson. I trust Boxhill’s Nomad, Allenby, has asked all the necessary questions!
The poor results from Boxhill Technologies (BOX) yesterday were not a huge surprise as the drop in the payment processing revenues had been flagged in the recent trading update that I covered HERE. However, while there is still a chance that an unsuspecting PI thinks there’s opportunity here, I will continue to emphasise a couple of odd points about this business that continues to make it uninvestable for me.
Doesn’t time fly when you’re having fun? It’s now been a year since Boxhill Technologies’ (BOX) CEO stepped down and Lord Razzall stepped into the role of Executive Chairman while looking for a replacement. Worth having a look how the boss has done – not good is the short answer, so doubt shareholders have been having too much fun. Read on for the longer answer.
Following the profit warning and announcement of the forthcoming Timegrand deal back in February that I covered HERE, Boxhill Technologies (BOX) announced the completion of that deal late yesterday afternoon. Unsurprisingly, the deal raises more questions than it answers and I’m beginning to wonder when Allenby will say enough is enough. Let’s take a closer look at the RNS.
The thing about dodgy companies is that eventually the chickens come home to roost and this morning’s RNS from Boxhill Technologies (BOX) is testament to that fact. Nevertheless, I almost admire the chutzpah of the guys as it’s not holding them back from issuing more confetti in unknown directions in a further attempt to squeeze a few quid out of the mug punter!
I surprised myself to note that I haven’t commented on the quality outfit, Boxhill Technologies (BOX), in over two months so thought I should start the New Year by asking the question that must be on every investor’s lips: when is the new CEO going to start and who the hell is it? Surely the company's not struggling to find a suitable mug / candidate?
As a bit of a big kid, I look forward to Halloween each year with the streets alive with trick and treaters and lit pumpkins everywhere brightening up the cold winter evenings. This year I had even more to look forward to as all of the subsidiary accounts of Boxhill Technologies (BOX) were due on that date too and I knew that they wouldn’t disappoint.
Following my recent I-Spy interims preview of Boxhill Technologies (BOX) HERE, interims were announced on Thursday, so it’s time to work out whether I managed to tot up 1,000 points and can apply to Big Chief I-Spy for my certificate.
As a child of the ‘70s and ‘80s, I used to love the I-Spy books, so thought I’d liven up a potentially dull preview of Boxhill Technologies’ (BOX) forthcoming interims by writing it in the style of an I-Spy book.
Lord Timmy Razzall still has not answered the ten questions from Cynical Bear that a man of honour rather than a money grabbing piece of shite would have answered - his silence tells you everything. Instead he has again produced a trading statement from Boxhill Technologies (BOX) which omits all the key data - Lord Razzall luvvie, what are you hiding?
I noticed that Boxhill Technologies (BOX) issued a notice of its AGM on Tuesday asking for approval of a significant option scheme, but thought I’d wait to see the detail in the actual notice before commenting. Not good!
Lord Tim Razzall, the chairman of POS Boxhill (BOX) will still not answer Cynical Bear's 10 Questions. He is still trying to suppress news of the winding up order against his piss poor company. And yesterday he served up a trading statement which again begs the question of what little Timothy is hiding now?
In today's corporate update from Boxhill (BOX) the company mentions the fact that it faces a winding up order but without actually using the words. Boss Lord Tim Razzall is trying to keep this quiet and has taken legal action to gag the other side and stop them talking about it. sadly for Lord Timmy, I have obtained the court papers which I have decided to publish.
Following on from Tom’s explosive piece over the weekend referencing this letter relating to the Mediacorp / Purple Lounge debacle and the dodgy characters involved, I couldn’t help but pick up on the Boxhill Technologies (BOX) connection as I continue to be amazed that Lord Razzall hangs out with some of these characters.
I understand that one can have too much of a good thing so I was going to leave Boxhill Technologies (BOX) alone for a while, but yesterday’s RNS relating to the issuance of shares set me off again – bloody jokers.
Maybe all the morons are on half term? Or maybe they have all become sane but there were just a handful of entries for last week's contest as you can see HERE. And none of them beat the original posted by Cynical Bear which was:
I’m bringing this BOX set to a close with a set of questions for Lord Razzall to answer that summarises the plethora of issues raised in my various articles on Boxhill Technologies (BOX). Shouldn’t take him too long to answer over his roast beef and I reckon any more than 5 incorrect answers and he should do the decent thing.
I smiled at Nigel’s piece on FastForward Innovations (FFWD) yesterday asking a similar question as I’m beginning to wonder whether I’m doing the Nomad’s job at Boxhill Technologies (BOX) too. Having raised the issue about the winding-up petition before the RNS on Thursday, there was also a further RNS that day about the shares held by SmartePay Limited which I first raised in February and again last weekend.
Good to see that Boxhill Technologies (BOX) finally RNS’d the winding-up petitions that it had received last Friday but I’m afraid I’ve got more. My bedtime reading last night included a 600 page court case transcript of a hearing in the High Court, Chancery Division, from last July in which former CEO of Boxhill, Phil Jackson, didn’t exactly cover himself in glory.
The more I dig into the chaotic world of Boxhill Technologies, the smellier it becomes. Having spent the last 24 hours trawling through reams of information sent through to Shareprophets, I can only echo Tom’s clarion call to shareholders from his Bearcast yesterday – SELL!
On reflection, perhaps I was a little bit harsh in my article on Boxhill Technologies (BOX) on Saturday as I think it could be hiding its light under a bushel to a certain extent.
Following on from my positive piece last week on the progress made on corporate governance by Boxhill Technologies (BOX), I have now had a chance to peruse the full audited accounts and, I’m afraid, it smells as much as ever.
Both Tom and I have been critical of Boxhill Technologies in this year and the full series of articles can be seen HERE, so I felt it was appropriate to applaud a few baby steps in the right direction set out in Friday’s announcement “Corporate Update and Board Changes”.
With Boxhill Technologies (BOX) still in suspension, and plenty of comment already on this site, I didn't think there would be much to say for a while, but Tom's pieces on Avanti Communications (AVN) HERE & HERE got my Companies House antennae whirring and what do you know?
I was going to leave Boxhill Technologies (BOX) alone for a while, and at least until the audited accounts for 31 January 2016 came out, but the more one digs, the more ridiculous this becomes so I couldn’t resist writing a piece about its relationship with its largest “customer”, Eupay Group Limited. For completeness, the Boxhill series to date is HERE.
Our series on Boxhill (BOX) has clearly established that this stinking mess is totally uninvestable and that all directors of this company should not sit AIM Casino boards going forward. On that note - just three small additional questions for chairman Lord Razzall on the matter of when did he know that the FCA were about to warn folks against dealing with his company?
That was quick. A day after posting a series of articles on Boxhill Technologies (BOX) HERE, the company has been kind enough to provide an update on the issue with the accounts, a restructuring and more on the Emexpay acquisition.
Continuing my review of some of the strange features of Boxhill Technologies (BOX), having been somewhat confused by the fact that it appears that a dissolved company, SmartePay Limited, currently holds 6% of the business, I took a closer look at the shareholder base and came across Viltek Limited. You can see all our work on Boxhill HERE.
My previous piece on Boxhill Technologies (BOX) HERE raised an issue relating to the accounting within its subsidiary, Pay Corporation, and this piece explores the underlying payment processing acquisitions in a bit more detail.
In my initial piece on Boxhill Technologies (BOX) HERE, I concluded that it all smelled a bit funny but I wasn’t any more definitive that that. Well, with Tom digging out the additional information on the liquidation of 818 Limited, I couldn’t leave it there as it felt like an unscratched itch, so I’ve been digging further to try to understand the issue behind the current suspension.
A day at the ICE gambling exhibition was made worthwhile by the enlightening chat at the Boxhill Technologies (BOX) / Emexpay stand.
Philip Jackson was appointed as CEO of Boxhill (BOX) currently suspended - as noted here - on 24 May 2013 and was, according to the wimpish chairman Lord Tim Razzall, a thoroughly good bloke. Lord Razzall noted: "I am excited by the substantial opportunities that the acquisition of Poseve provides and I look forward to working alongside Phil, James and the existing team." Perhaps he should have looked at Phil's other business interests a little more closely.
As Shareprophets has a general affinity towards cats, I felt it was appropriate to analyse Boxhill Technologies (BOX) in the context of the most put-upon feline of them all, Schrödinger's Cat.
If you want me to analyse a stock for you just drop me a line at [email protected] - Today I look at Boxhill Technologies (BOX), Densitron Technologies (DSN), Red Emperor (RMP)
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