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Pinnacle Technology Share Chat (PINN)



Share Price: 9.25Bid: 9.00Ask: 9.50Change: -0.625 (-6.33%)Faller - Pinnacle Tech
Spread: 0.50Spread as %: 5.56%Open: 9.875High: 9.875Low: 9.25Yesterday’s Close: 9.875



Share Discussion for Pinnacle Tech (PINN)


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KaChing
Posts: 3,851
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Opinion:No Opinion
Price:9.63
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Follow
1 Jul '14
The money! lol ......
 
KaChing
Posts: 3,851
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:9.63
Well
1 Jul '14
Including what the Chairman bought in the placing, I make that to be about £120k he's put in here this year!
Korg
Posts: 251
Observation
Opinion:No Opinion
Price:9.63
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RE: full progress?
1 Jul '14
Compared to last year I'd say operational progress is far better, so much progress made in such a short sapece of time since nick arrived.

PS. Meant last placing at a premium, and fully taken up..

I said a while back, take a look at nicks cv. Redknight one of his qualifications in PL. profit/loss, being an accountant you should know the importance of that, and be assured the right guy, with an eye on controlling costs is in charge.
jollyspeculator
Posts: 12,808
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Price:9.63
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full progress?
30 Jun '14
early WIP..at best
Korg
Posts: 251
Observation
Opinion:Strong Buy
Price:9.63
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RE: better things to come
30 Jun '14
Sorry for you and your friends, but why with your professional qualifications made you invest at such high levels and then lose so much. Were the accounts EVER acceptable to you or your mates?

I know accountants who buy the balance sheet, but fail to apply fair value, buy at the top, the get locked in.

Conversly they fail to get the story when circumstances change. They just can't read between the lines, they just stare at the balance sheet,the head says no, the heart can't take it. Did you make money on tcg? I did.

Pinn is at the turnaround stage, I never said cash flow is positive, but read between the lines, reduced cost, new business suggests improved cash low.

As I said before, the last placing was at a discount, a first for pinn, all part of the new management style.

I don't expect you to get over your loses but try to accept the turnaround is in full progress.
redknight1
Posts: 614
Answer
Opinion:No Opinion
Price:9.63
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better things to come
30 Jun '14
Hi Korg
First,I've never been angry, just sad really because a lot of my friends have lost serious money in PINN

Can you point to where the report says cashflow is positive since March?

NET cash balances at 31 March were actually £499k

Net operational cash outflow before financing activities for the 6 months to March was £418k

Now how do you turn that round in 3 months and avoid a cash call?

Cheers

PS as a former plc GFD I know the difference between liabilities and cash flow....but sooner rather than later CURRENT liabilities have to be paid off..... GL
Korg
Posts: 251
Observation
Opinion:Strong Buy
Price:9.63
better things to come
30 Jun '14
Sorry for you rednight, but back then upuntil recently they were overprice, and under the stewardship of bonner as I recall. From what I read, mostly from the likes of ex-angry shareholders like you and elsewhere he was not very good.

Nick IS very good and has the background to back it up.

If there is a cash call, the last one was at a premium. But I dont see one coming.

liabilities are slightly different to cash flow. And cash is flowing thanks to cost cutting, new business etc. Read the post report stuff, it says it all.
redknight1
Posts: 614
Observation
Opinion:No Opinion
Price:9.63
Simple maths
30 Jun '14
Cash at 31 March £575k

Net CURRENT Liabilities at 31 March: £500k (£2669k-£2169k)

Simple maths

Cash call coming.... if Nick really believed he would have bought more than £10k.... (unless he's buying cheaper in a placement......

Genuine best wishes to all. I waited 4 years and gave up..
KaChing
Posts: 3,851
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:9.75
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RE: directors buying
30 Jun '14
This could indeed be the start of a turnaround ……..

The Directors of the company took over half of the last placing (at a small premium) and the new CEO has also bought on the open market …… maybe the omens are on the positive side

Bit more digging to do!
Korg
Posts: 251
Observation
Opinion:No Opinion
Price:9.75
View Thread (2)
directors buying
29 Jun '14
Usually a good sign, very positive,

Nick has already found new customers, renewed contracts, cut costs, reduced head count etc.I dont see a placing after that. Last placing was at a premium by the way.

One word TURNAROUND!

,



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