Have you considered the reason for the drop is because its on the brink of bankruptcy.I dont think they will ever have a new CEO.Who would want it Besides they may not be around long enough to need one.Institutions and JM are stuck with it just like you and will no longer support them.I guess it will fall to around 1p after the next lack lustre announcement.I will laugh if they say"good progress is being made toward the appointment of a new ceo"Then give it a few more months before the reserves run dry and you know what comes next right!
How much has been trading already? 467k shares x .08 pound/share = 36,800 pounds.
One important principle in trading is "follow the money". Where are they? They are still sitting on the boat. Watch them carefully. Like JM, he seemed to know the price will fall from the .16-.18 level, why? Becausre he is part of the fall. He made the fall in association with the effort done by his brokers.
The continuous new lows and the big money stays tell me that you wait! Do not be scared by the shareholders who already lost a bunch and complainted in the most pessimistic way. Do not be scared by 54K and 36.8K pounds of daily trading in light of what the big money originally paid for. GL.
I must have hitted a nerve of them. Look what happened after my thread. So 600k shares x .09 pound = 54k pound? That's all they get to have you frigtened? Be advised that it is the pump-dump-bore-dump-pump game.
The trading of pdx is being intentionally hammerred. Looking at the daily trading patter, volume and value, you may notice that no one can profit from those trades but a position building. If there is a positive and material news coming, no officer or director would be willing to bear the risk of being accused of insider trading to make public that they are buying PDX's shares at this low price. With growing revenues and lowering costs, PDX would not have been trading at this range. The valid concern is the right offerring. But look, do those institution investors look like someone who would allow a stranger to buy a large position into the co without a fight for their interests?
Prudential -> biggest investor M&G -> owned by Prudential -> second biggest BlackRock -> 3rd
Any new right offerring deal will be captured or occupied by these top 3 investors unless the stranger can bring business deals to them.
As the year end report is on Sep 30, 2012. Now it is all about trading game. Small value, low volume and highly volatile prices. Make your call.
No director buying noted at current 'bargain' share price. I suppose in spite of all the reassurances on strategy the Board does not really expect the company to survive more than a year without a miracle. Previous projections were grossly misleading. I have lost me a great deal of money as a result but who cares these days? Not AIM it seems.
Perhaps the new CEO will see the light but, at present, the numbers just don't add up. They have enough money for about 12 months at best. In Q1 of 2013, they will need to have a turnover of >£5m to avoid another rights issue. The technology works but it is not sufficiently well differentiated command exceptional prices. To generate income, they need to be selling large numbers of units (i.e. thousands) at competetive prices.
The biofuels LOB looked like a life line (since this has been developed into a process) but that seems to have gone off their radar screen.
They have 12 months to prove their doubters wrong.
The share slide after the P&G announcement looked heavily overdone. In the light of their strategic review however one has to wonder whether these shares have any value at all. The bio fuels LOB has been downgraded and they are only predicting £1m of revenues in the current year.
They have £6.1m in the bank and they are only cutting costs to £450k a month. By the time they implement the changes, they will be down to £4m or less. Can they increase sales to £5m+ within less than a year? Based on past performance, this looks like a very tall order. If they had found a way of cutting costs to £200k per month, they might just reach sales of £3m within 24 months (but even lower costs would be preferable).
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