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He is certainly tech product savvy. But he’s no business man.
Glad someone gives some company news on here instead of the incessant insults of the Chairman...perhaps he is the dog's wotsits up in the NE.
Contract wins simply don't cut it as can be seen by market reaction.
The AI theme is hilarious.
The market is waiting to see the accounts (and detailed notes) to see how the company is being run.
From the pathetic "poor me" / "my wife doesn't understand me" Times article it clear Basu has learnt from past mistakes and thinks he the dogs b######.
I might feel positive if Basu and his fellow wealthy BOD members were buying significant numbers of shares. I think it is called "putting your money where your mouth is ". Something Basu has never done .
Small fry orders and heard it all b4
Petty orders but hopefully increasing in frequency and quickly adding up.
The encouraging recent strong run of orders continues: in Advanced Imaging they have won 4 new orders from existing OEM clients, worth a total $1.6m and cover CT, gamma imaging and gamma probes.
CEO delighted with evidence of the repeatability of business in the AI segment✔️
Another small step £1.6m in the right direction, still in good uptrend buyers paying more.
Mrlof, I would so love for you to be proved correct. Sadly Basu has been making claims for close on a decade. The story of crying wolf, does of course end with Mr Wolf finally arriving. In this situation hopefully a happy ending.
No medication just not looking backwards! This has been a shocker but that’s why it is where it is, cash burn is reducing and the czt business is extremely valuable. Not a fan of basu but he has built some decent tech which is only now seeing the benefits which is typical of tech it always takes longer to monitise than investors expect. Can’t seeing it staying private with such a gap between stock market value and business value. You only have to read the guff on advfn to see investors are all one way ….there lies the opportunity as most pis don’t spot the change! All imo dyor
Jan 3rd 2024
Philips mentioned in last paragraph re Photon counting CT development, also Uniting imaging and Fujifilm plus others....all pushing ahead with CZT based Photon counting CT systems.
Trends and advances in CT systems at RSNA 2023
https://radiologybusiness.com/topics/medical-imaging/computed-tomography-ct/trends-and-advances-ct-systems-rsna-2023
Correction - according to CrunchBase $340M https://www.crunchbase.com/organization/redlen-technologies
Its been brewing for quite a while that's true so baby is taking its sweet time to pop out... but market forecast does look favorable and competitor was bought for $200M.
Mrlofer, what medication are you on . Not being rude but really wonder what is going on. Why on earth should the sp improve given the history and facts available to all, including the boasts and promises from Durham now dating back almost a decade ??????
Share price is telling us something ! 5.5p to buy now, perhaps 2024 is the year when value is realised. All imo dyor
Basu , Saviour of Democracy. What a hero. Maybe one day he will do something for Kromek shareholders.
Article in Times 1 Jan 2024
Radiation detector dogs signal danger on battlefield.
Dogs carrying radiation detectors the size of mobile phones have been dispatched to Ukraine to provide troops with early warning of a nuclear disaster.
Real-time data on radiation levels collected by 8 dogs will be sent to soldiers on the ground, allowing them to decide whether to move into battle
The radar technology, made in Sedgefield, is so sensitive that it will pick up even the lowest levels of radiation. It can also identify the exact nature of the radioactive source material, such as plutonium or uranium.
Arnab Basu, CEO of manufacturer Kromek, said “The canines are going to add an enormous new capability to the Ukrainian forces. We are able to provide the highest quality information to people who are responsible for protecting or monitoring the field. If you have the right information you can act in the right way, and that saves lives.”
………..
Ukraine has 15 operational nuclear reactors that generate approximately 54% of its electricity needs.
“They are not areas where you want to have active fighting. The threat of nuclear incidents increases if you use nuclear power plants as a battlefield. It is an accident waiting to happen.”
|2023-12-04
"Siemens Healthineers aims to expand photon-counting scanning technology to 1 billion patients over next decade.
Siemens Healthineers aims to scan 1 billion patients with photon-counting based computed tomography scanners within the next decade, bringing its unique state-of-the-art imaging within reach of more and more communities."
The company is investing €80 million (over £65 million) to expand photon-counting CT manufacturing in Forchheim, Germany
a serious investment in CZT manufacturing and tech I don't think they would commit to this if they had any doubts on the commercial return on capital investment.
https://www.siemens-healthineers.com/en-uk/press-room/press-features/photon-counting-expansion
Off to a good start….5.0 -5.20 up 7%
Follow up by supernumerary
Jak - they're right down the bottom of the page...
This is just the first lot - not saying anything new...
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T Burley
26 DECEMBER, 2023
It's tiny and still loss-making after more than a decade in business and many funding rounds. It's not to a business, it's a customer charity transferring shareholders funds to them every day year after year. If it had scaled to billions or at least a few hundred million over these decades and was ...
See more...
Recommend (31)
Andrew Lapping
26 DECEMBER, 2023
As a long suffering shareholder, try making a profit or get out of the way and let someone else try.The company has had numerous fundraisings, pre and post IPO, at ever decreasing values.
Time to make a profit
Recommend (15)
Jonathon Cole
26 DECEMBER, 2023
The owner is part of the problem. He has persistently avoided investing and expanding to a greater scale required to boost profitability because he , like many science based entrepreneurs, he is afraid of / doesn’t understand dilution. They dont like losing control
He should have raised more fund...
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Recommend (12)
S Evans
26 DECEMBER, 2023
Kromek has consistently come back to shareholders for funds at massive discounts, no way would the CEO have been able to obtain funds elsewhere if it was not public.
As a shareholder I have been Distinctly unimpressed with the CEO and the board, the CEO continues to reward himself with a bloated sal...
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Recommend (9)
Ian Caswell
26 DECEMBER, 2023
What a terrible example. After 10 years floated only £17m turnover and a massive £7m loss. Pity the poor shareholders. Looks like a very poorly run company that will eventually change management or go bust.
The market has reacted exactly the way it should to a rubbish business.
Recommend (9)
M Hedges
26 DECEMBER, 2023
What retail investors do understand is that when it comes to return on investment, the top line by itself is meaningless. A wafer thin gross margin and an eye watering loss at the operating level are of far more interest. An extremely high cash burn and constant dilution at lower and lower prices a...
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Recommend (6)
T Nicholson
26 DECEMBER, 2023
It sounds like a very clever business but if you’re not turning profit after a decade and having had multiple funding rounds, perhaps it is the business?
Recommend (5)
P Norton
26 DECEMBER, 2023
Blaming the market is shooting the messenger. Prices are information and the information this share price is telling you is that this is a rubbish company. If it were any good then a private buyer would have bought it or if the management back it, why not do a MBO?
Of course the market isn’t always...
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Recommend (4)
Charles Mitchell
26 DECEMBER, 2023
Not only not profitable but they have had numerous fund raising. So no wonder the market values lowly.
Interesting company, but would only buy on improved financial performance.
Recommen
Recent article from JakNife over on ADVFN.
======================
Kromek boss ‘might not have listed technology company on Aim’
Arnab Basu joins other technology bosses ‘frustrated’ with London’s small-cap market after his firm’s share price dropped more than 90 per cent since 2013
Katie Prescott, Technology Business Editor
Tuesday December 26 2023, 12.01am GMT, The Times
Arnab Basu, the chief executive of Kromek, argues that technology businesses that require time and investment to grow are often ignored by UK investors in favour of short-term successes
The boss of Kromek has said that with hindsight he might not have listed the scanning technology business on London’s junior stock market, adding his voice to those of other British technology chief executives who complain that the City lacks understanding of the sector.
The share price of the Co Durham-based company, which designs and makes high-specification materials for security and medical imaging, has fallen by more than 90 per cent since it was listed on Aim in 2013, despite Kromek increasing its revenue and market share.
Arnab Basu said it was “frustrating that the company’s value isn’t recognised”. The business, which celebrated its 20th anniversary this year, made £17 million of revenue in 2022, a 44 per cent rise from the year before.
However, it has yet to make a profit, suffering an adjusted pre-tax loss of £7 million in 2023, down from £7.8 million the year before. About a third of its revenue is from the United States and a fifth from Britain.
Kromek is covered by only one firm of City analysts — Cavendish, part of the finnCap Group. In July, after the company’s full-year results, Mark Brewer, finnCap’s director of research, wrote: “As the only independent supplier at scale of CZT [a semiconductor] for imaging systems, we believe there is substantial strategic value in Kromek that is not reflected in the current price.”
Another London technology analyst, who does not follow the stock, said: “The low end of the Aim market capitalisation spectrum can be a trap in terms of low valuations. The company capitalises a lot of development costs and has been cashflow-negative for the past two years; improving profitability and turning cash-positive will be keys to getting a higher valuation.”
Reflecting on its ten years as a public company, Basu, 50, said: “We have had a difficult time in the market, where the business has grown continuously but the value recognition has declined continuously. When you’re talking to retail investors, it must be very challenging for them to really understand a small, complex business. The relationship we had with private investors was much more interactive.”
He argued that technology businesses that required time and investment to grow were often ignored in favour of short-term successes. “Hardware tech is still rare in the UK. And I think if you’re not in certain segm
Agree 100% with view but there is now incredible value here, the czt manufacturing is the jewel in the crown and I think somebody will buy this part of the company or bid for the whole entity.
Basu is a poor ceo but is a good cto and has created some excellent tech which is now beginning to see commercialisation. The share register is good enough to not allow this to run out of funds or equally do a silly fund raise without demanding a strategic review. In my top 5 for 2024 All imo dyor
Indeed dab808, Basu has consistently claimed a great future for Kromek going back many years. Strange he does not invest his own wealth in the company given the shares are now "available" at 10% of their value when was making claims several years ago. Let us all hope Kromek will fly. More likely we will see flying Pigs.
Yes, dab808. We would all like to see this share fly! Me more than most. I’ve stopped holding my breath as……..
Regarding anything that Basu says, take with a pinch of salt.
This is what he said back in July.
"Kromek is on track to report an underlying profit (adjusted EBITDA) this year to April 2024" Basu added.
So we will see. I'd really like so see this share fly.