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Just imagine someone who bought over 6p. How much they lost. Tha was nasty ramping here not long ago
Another pile of poo company. Why did I not listen to TW.
Been there, got the t shirt!
Why didn't Cascade follow through in the autumn? Why has nothing come form this Mobileye integration after 20 months? How did they allow themselves to get into $3.7million of debt? Why did they not pay down Yorkville and Alpha when they said they were going to? How are they ever going to list on the main market? How will they raise the $2million to pay off Cascade? I can't see any way out of these problems without shareholders getting diluted or wiped out. I didn't hold that many of these any more having sold out of most last year. Now I am out completely. I wish all those old comrades on this forum all the best, good luck.
IMO. Why did Cascade buy in TWICE at what is effectively now 11 times the current SP ? With the best will in the World, SEV will not be able to place another �2million just to repay Cascade in 12 months, UNLESS there is something transformational in the background, which actually comes to pass. Why did SEV do the deal with Cascade, partly on the proviso of a main market listing (if memory serves) ? As above, there MUST be further background noise that we're not being made aware of. Not withstanding the fact that what is currently happening could be termed shambolic......... GLA Cheers
What a rubbish investment i made here. Bottom draw. Gl pk
Nothing moving here. More trials ongoing how often have we heard them mention trials. Wish we could sell 50 systems to everyone we have done a trial with. Only 2 customers mentioned cardtronics and aggregate ind. What the hell are they doing in Israel, UK, and US. No sign of progress in the UK bus and coach market. Think sone people need the boot.
Let's see if they can raise more money and at what price. Who would have guessed that they would raise the last money at the price they did? On the plus side, at least they have another 12 months in which they can raise cash without the first $2m having to be used to buy Cascade out at 11.2p share. Give GT his due, he is a wizard at raising funds!
Some positive but overall negative news. If sev can arrange funding without diluting sp, then i think sp should start improving. I feel we have hit the bottom now. Although it could spike on good news..
Greendave,you won`t be surprised to hear that GT is on $200,000 a year for this sterling performance.....nice return if you can keep that ticking over for every loss making year. For balance,he has loans out to Sev of $300,000.
We were not the only ones to get it wrong!!! It all looked so good, but you never know it might turn around yet but pilot projects in the future is not looking like immediate pilot projects.....im cry crying again for myself and everyone else....is there any good news on AIM in 2018 yet as i would say it looks 90% bad so far.....Im waiting for RLH next week which is either going to re-list (hopefully at a premium) or die. Off the AIM 2018 record so far its not looking good......
I was posting many many months ago to say T/O was the only option for this company as they just dont seem to be getting other contracts in and definately not anywhere near 6m a years worth. There was interesting posts the other day about CEO pay on AIM companies and many CEOS are on 200/300 grand a year. Im not sure what SEV CEO is on but in any company if it is not growing in a reasonable time scale then obviously costs have to be cut as the companies cannot afford big salaries for companies that have flat lined!!! Gutted!!! I was in at 6p and out at about 2p........cry cry
I would now be happy with an IP or whole company sale to Intel or Mobileye for $20M. Tech seems fine, day-to-day running of the business is not. Intel would not struggle to get sales! At the moment, it's the only positive way out that I can see. MUST have crossed the GT's mind as well. He knew that todays news wouldn't do jack to the SP and it's been on its ar*e for basically 9 months.
& how wrong was I... GLA Cheers
This is diabolical from GT. Inability to manage his cost base down,get margins right and generate sufficient sales, translates into a business model that just doesn`t work. As for the jam tomorrow,now sick and tired of hearing the same old crap. Only hope is that he can sweet talk this potential new investor into taking a stake at a much higher sp ala Cascade,then run for the hills on a spike. P*ss P*or
Agree, do i hold for a year and see? Or just cut my losses (which are about 70%) and write this off
I had high hopes for sev at one time, bailed in last spike as didnt buy the 11p subscribtion, something smelt badly wrong. $6m+ to get to break even, sadly they wont hit 50% of that in FY results . They need to slash costs to have a sustainable business. Alll looks a big mess and a hoped for T/O by mobileye no longer looks on the cards. Hope they sort something for the guys stuck in but looks grim.
"Going forward, the Company is working to leverage new and ongoing pilots with Mobileye distributors in Japan, South Africa, Chile and Argentina," Can't disagree with your overall post, though. I appear to have got this investment wrong :(
of mobileye. loads more cash needed to break even. A disaster thats what this is. As stated i was out the other month with a huge loss. Big big disapointment. No mention of cascade which is strange. Lock the shares away for another 12 months.....
looks like I got 1 thing right the funds needed timeline ffs 13 February 2018 SerVision plc ("SerVision" or the "Company") Trading update SerVision plc, the AIM quoted developer and manufacturer of digital security systems, today provides an update on trading and the Company's financial position following the conclusion of the financial year ended 31 December 2017. Revenues for the year to 31 December 2017 were up strongly on 2016, with the Company experiencing quarter on quarter sales growth through the year. Trading in the fourth quarter of 2017 showed a marked improvement on recent years and it is the first time since 2014 that sales in the second half of the year have been higher than in the first half. The current order book of the Group currently stands at US$700,000 plus a signed agreement for an additional US$350,000. These orders include new business with Cardtronics, a leading ATM service provider, and Aggregate Industries, a manufacturer and supplier of heavy construction materials. Going forward, the Company is working to leverage new and ongoing pilots with Mobileye distributors in Japan, South Africa, Chile and Argentina, as well as recent opportunities resulting from a strategic cooperation with Gurtam, an industry leader in telematics software that has just completed integration with SerVision's IVG. Whilst the Company's performance for 2017 has been encouraging, there is still a long way to go to achieve the sales target of c$6.5 million that is needed for the Company to trade at break-even. The cumulative losses of the last three years have been largely funded by increased borrowings and, as at 31 January 2018, the Company's net loans from banking institutions and others amounted to approximately $3.7 million, including Yorkville and CSS Alpha (BVI) Ltd who, as at the date of this announcement, are owed a total of US$0.9 million. With no additional debt facilities that can be used, the Company is required to raise further finance in the near term or face having to convert some of the existing debt into equity. The Company has access to the SEDA facility with Yorkville but recognises the potential dilutive effect could be significant and the intention remains that the Company does not utilise the SEDA facility. Instead, the Company continues to seek new investors who share its vision of the future. As such the Company is currently in discussions with a potential new investor who is considering taking a significant equity stake in the business. Ahead of this investor completing its due diligence over the next couple of months, it has also indicated a willingness to lend SerVision between US$0.3 million and US$0.6 million to help the Company relieve some of the immediate funding pressure. At this stage no guarantee can be given on the loan being secured by the Company nor to the terms of such loan funding. Nor can there be any assurance
As the subject heading says - "jeez" - what is it with you lot here. No one's been swindled (IMO); news will land when (& if) it's ready. IF you think you've been swindled - how do you think Cascade are feeling ? Finally - why did you invest here in the first place ? - I get the fact that Cascade's initial buy in got SEV on the radar, but surely research was done, in one form or another, before anyone parted with their hard earned ???? GLA Cheers
Why would it go to 0? Why even suggest that the company has folded- it clearly hasn't. Why this week for the negative comments?
Im thinking the same, in such huge loss that Im just holding in hope it recovers; but part of me is thinking do I just sell and cut my losses rather than risking it all and it going to zero
I'd say swindled
has this company folded or something!?! literally nothing for months and months? safe to say we have been literally swindled!!!!