Whilst in another thread discussing MVNOs I checked up on an MVNO which I had grave concerns about after looking at their UK accounts a while back.

They launched in the UK, made big losses, and then took out a massive bank loan to launch TPO in the US, what I notice today is that the stock price is rock bottom.

1 year chart:
https://uk.finance.yahoo.com/q/bc?t=...=l&q=l&c=&ql=1

Compared to the FTSE they are over 80% down over the last year in stock price:
https://uk.finance.yahoo.com/q/bc?t=...ql=1&c=%5EFTSE

I'm not writing this thread to go on about MVNOs, I know some will think I am, so let me say that they have their place and I'm sure if you choose 90%+ of MVNOs as a provider you'll be absolutely fine and save loads of money. I'd have no concerns going to many of the MVNOs out there today and many offer good value plans you can't get from the networks.

However, if you're on TPO, worth keeping a close eye on what happens to this company in the coming weeks and months consider porting out, consider the balance you keep with them and consider setting up an alternative to prevent you being as badly affected in the event that they pull the plug.

There have been 3 MVNO closures this year. Sainsbury's on 15th January, UK Globe on 31st July and the Post Office Mobile on 8th August.

https://en.wikipedia.org/wiki/List_o...work_operators

However MVNOs can be very good value and there's loads of good ones which help competition and give consumers extra options.

The primary message I was trying to share is potentially saving people from losing all their credit / money in their TPO account or being left with a dead service or lost number. An article in The Times (paywalled) recently said that investors had lost confidence. I fear that they may only have weeks or months left.

Very interesting. Thanks for keeping an eye on it! Looking at the graph it really has tanked. Must be something seriously up. Time to have a trip on companies house to read their accounts.

https://www.thepeoplesoperator.com/F...ort%202015.pdf

Those are the last set from December 2015, the next set are due next month.

(Brackets are minus figures / losses)


Revenue 2,108,629
Cost of sales (3,935,532)
____________________
Gross loss (1,826,903)
____________________


Distribution costs (1,428,954)
Administrative expenses (6,526,315)
Exceptional administrative expenses (650,800)
Total administrative expenses (7,177,115)
____________________
Operating loss (10,432,972)
____________________

Barclays Bank have registered a charge against all their present and future leasehold and freehold property as well as intellectual property last month. I'm no expert, but things look bad to me.

Yes its going down the plug hole!

That's probable why they have moved to Three's Network and also they now have 4G service while with EE they only had 3G so profits will start to go up now because most people want 4G network

Possibly a lucky escape for EE there then.

Assuming they have been paid? They may be a trade payable (creditor) for all we know.

However be careful when making assumptions its going to fail. You never know what may happen.

Well, you never know, I guess we'll find out soon. If I was a betting may I'd say 3-6 months maximum, but we'll see. I think it will all depend on next month's financials.

Surely Jimmy Wales and his buckets full of Wiki cash would step in and save it?

He took £220K salary from the business despite the multi-million loss.

Jimmy is worth $1M as of 2014 according to wikipedia (irony). Also remember Wikipedia isn't a business, it has no ads and no revenue model, it is based on donations.

It looks like it is getting worse for TPO, yet another warning if you're on this MVNO to consider not building up a credit and have a backup sim.

Shares now at 9.5 pence, down 92.95% off their original value
https://uk.finance.yahoo.com/q/bc?s=...=on&z=l&q=l&c=

They made a loss of £4M in the 1st half of 2016 as annouced in the latest report
https://otp.tools.investis.com/clien...&newsid=800797

In the last month, they have halved again from 18p to 9p
https://uk.finance.yahoo.com/q/bc?s=...=on&z=l&q=l&c=

The board is trying to raise additional funds, but struggling.
https://otp.tools.investis.com/clien...&newsid=816968

I'm surprised they are still trading TBH given the situation the last few months, I can't see them lasting much longer, but we'll see.