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Dear Sloppy, please could you also pop over and post this on the MWG board. I think they need cheering up.
Good job the boss knows what he is doing then, aye.
"Brandon has completely transformed Integumen since taking over in August 2018. When he took charge, LabSkin, originally a Leeds University spinout, had had £15m of investment pumped into it over the years but only made £50,000 in sales for the first eight months of that year.
“It was in the worst possible state because nobody else wanted it and nobody could turn it around. I said ‘I’ll give it a shot, I think I can do it, and we set out to fix it,’ he says.
Brandon, a business turnaround specialist, realised the company was underselling itself by selling its test kits for just £1,500. He set about changing the business model and in the last four months of the year achieved sales of £280,000. This year turnover is expected to be £4m.
He has a five-year plan to grow Integumen before selling it on. His previous public company, Alltracel Pharmaceuticals, sold for $55m in 2008. He expects to make substantially more from Integumen."
No he will receive shares in DeepVerge that will have acquired MWG. If it’s such a bad deal the motivation isn’t to receive shares that won’t be worth a lot and will in fact by your reckoning reduce the value of his current number.
Let’s agree to disagree but throwing half baked accusations isn’t good.
Retire - you rather missed the share point. He will receive shares in SKIN. DYOR
I don't need to defend it you good because the business model is completely changing. What part of that do you not understand? Ohh Gerard, please merge with MWG and run it exactly like it has been run for the last few years please! What was Integumen like when GB took the helm Muggins? Do some bloody research, open your eyes and stop your constant whining..or sell tfu..You own your investment don't you? Or are you using your mums account..jesus
Muggins you seem bitter and a little disingenuous.
You said sales were meant to be up 48% but were down when they were only talking reagent orders in Q1 and you can see a lot is being shipped this half so revenue will appear H2.
You implied GB wants to buy a failing co for 20m shares. An additional 20m shares in a new co likely to fail is pointless and will reduce the value of existing holding. You should have the contrition to admit you’re wrong.
Also, GB et al only been in place for half of H1. Anyway, the deal will go through and let’s see what Thursday brings.
Best of luck
Pilgrim - you really are a genius. Anyone who defends a 62% crash in sales and ever increasing cash outflows must be seriously smart. Good luck with the merger!
Muggins..you don't know why because you don't have the knowledge. Your best bet will be either sell up or trust in the intelligent people that do know what the pipeline and future holds, and stop wetting the bed. For somebody to constantly moan about a share they're invested in by choice, really shows what a complete idiot you must be. Why would somebody actually bother to do that? Are there no other shares you can find in the whole of the stock market to put your pittance in and save everyone else having to read your constant waffle?
I have no view on SKIN as I do not know the company well enough to comment.
I do know MW and far from the company being turned around the opposite seems to have happened with falling sales, ever higher cash outflows. Things are not getting better they are getting worse. MW would appear to be running out of money (again).
A subtle or not-so subtle accusation there. GB knows MWG has super tech which is protected and will do what he did with SKIN is turnaround a business that needs help. The collaboration approach will work and you only have to see the recent award in China the products are superb but they need to create a sustainable business model and that’s what GB will do.
Anyway, any doubt the takeover won’t go through is now gone. Onwards and upwards.
Oh and why would GB want 20m more shares in a failing co?! Have 20m fewer shares in a successful company then? Says to be he’s confident as the other directors are that the merger will work
Muggings, you clearly have a problem and a perspective on MWG and SKIN which the rest if the market doesn't agree with. GB and the team are turning these companies around.
Difficult to see how a 62% collapse in sales and operating cost cash outflow of £1m (more than double the comparative) can in any way be seen as 'going in the right direction'.
I agree that a MW shareholder voting against a merger needs help.
A more interesting question is why SKIN wants to be saddled to this perpetually lose making company. Surely nothing to do with the 20m MW shares (and to be converted into SKIN shares) that are triggered for GB by the takeover.
You implied they’d misled investors and used the 30 March RNS as your evidence and that was misleading. The turnaround is embryonic but wirh Admin costs massively reduced and the comprehensive loss reduced they’re going in the right direction.
Clearly a lot of the increased reagents will be shipped this half so those revenues will appear here but yeah any MWG holders voting against the takeover need help.
If so unhappy with the direction and results why not sell up on these highs Muggy.
Retire - you are not seriously trying to defend a 62% crash in sales?
One thing you cannot argue with is the ongoing cash outflow. This company is heading for the knackers yard without the merger.
Admin costs are down from £1.6m to £0.9m which is good in poor results at the start of a turnaround.
Sales of reagents up in Q1, not sales full stop. On 30 March they said -
Modern Water announces that orders for water contamination detection bacteria consumables have increased by 46% in Q1 2020 compared to Q1 2019.
Some of this would have been fulfilled in H1 and by the sounds of it a fair bit needed producing in the new lab space and will be shipped and therefore billed this half as below in today’s RNS.
The increased order levels, seen in H1, are currently being prepared for shipping in H2 2020.
MMgames – SKIN is due to take over Modern Water.
Looking at these results;
The MW shareholders were promised that orders and sale were up by 40%+. They are actually DOWN 62%.
A number of posters on this board had suggested that MWs cash position, following a fundraise, would support SKINs operations. In reality MW lost £1m in cash from operations in 6 months and only had £800k at the end of the half year. At this rate MW will run out of cash sometime around November.
These figures are simply unacceptable and it is clear that we have been misled about the prospects of this company (40% increase in sales anyone).
From a MW shareholder perspective thank goodness for the merger – although SKIN seems to have finite resources and most certainly cannot support losses of this magnitude for long.
Modern Water (AIM:MWG), the owner of leading technologies for water and wastewater treatment and the monitoring of water quality, announces
interim results for the 6 months ended 30 June 2020
Commenting on the results, Gerard Brandon, Chairman of Modern Water, said:
"The necessary structural changes that were outlined in the recently published 2019 annual results, were carried on through H1 2020. The Company business model in 2020 has moved to a collaboration, cooperation and partnership business model resulting in a high volume, high margin recurring revenue strategy. The increased order levels, seen in H1, are currently being prepared for shipping in H2 2020.
"Modern Water continues to retain a leadership position within the water contamination monitoring sector and is adding the latest technologies in ecommerce, logistics, comms, networking and data encryption which extends the global reach of the Company beyond the US, Europe and Far East offices. With thousands of sites and hundreds of water systems installed over the last 30 years, the Company retains a strong international position in water monitoring. The strategic challenge through this COVID-19 pandemic is being met with the move to provide support services online, making it easier and safer to interact with customers while at the same time to increase the capacity of our equipment to provide surveillance against all sorts of contaminants and threats including viruses and pathogens.
"The new platform gives us the ability to further exploit the data the Company generates from different water systems across the world. Data analytics within the latest AI systems, produced in collaboration with Company partners positions Modern Water to receive multiple revenue streams from equipment, consumables and predictive services for our existing and new clients coming online to manage their COVID-19 risk."
What company are SKIN taking over? Pls let us know
Has anyone seen the results of the company that SKIN are due to take over? If not you should.