MOH

Moh Nippon PLC

Real Estate First-pass screen £85m

260/1000 Overall fit

AI beneficiary 35% 26

Operating leverage 25% 28

Valuation 25% 30

Downside protection 15% 18

First-pass take

Core crowdfunding business faces structural headwinds: single-customer dependency, rising costs making 7% returns unviable. AI Data Centre strategy aspirational (FY2027 target, zero current revenue). Material going concern uncertainty dependent on September 2025 related-party cash inflows. Negative operating leverage evident (revenue -64%, EBITDA -97%).

Flags

going-concernsingle-customerai-pivotcyclicalliquidity-crisisloss-makingno-valuationmicro-cap