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Its $7m in new funding. $14m is total spend. from CBP since 2021.
PP.....The Framework Agreement disclosure by Thruvision mentions that the $14M of equipment's will be 'substantially delivered' in this financial year (Thruvision y/e 31st March 2023). As we know by previous notes the company has been stocking up to mitigate any possible future shortages. So those additional costs which would not need to be borne in normal times will depress the 'profits' in year ending March 2023. In addition one could be forgiven for thinking that a not insignificant part of the $14M order will not be paid for in the year ending 31st March 2023 via late invoicing and settlement terms. We will have to wait to see whether my thinking here is played out until the a future date, or whether I am too suspicious of Thrusvision's operating procedures.
Persimmon, very much appreciate your thoughts and take on things, I can't disagree.
As you say, they aren't there yet with the commercial air travel space and it could be someway off yet.
That said, one would assume the success with and apparent high regard of the product held by the US CBP should provide for a significant endorsement with the former, so perhaps things may accelerate on that area.
Additionally, the same process currently being undertaken in Israel could also provide for a successful outcome, so plenty in play for the years ahead.
PP....If you have followed Thru since DGB days you know that T.B is a crafty old fox. He does not like the share price to increase too quickly. His large investors (as well as the directors) can then make more money along the way. Notice the share price movements in the last few days, which is consistent with his M O of 'catchy catchy little monkey'.
As regards Air travel, it is on the horizon, but not yet at the Arrival Lounge.
When the time arrives this will move at warp speed; that time is yet to come. Unlike most management teams Thruvision likes to keep a low profile as far as private investors are concerned. The II's are privy to what is going on in the background, hence the steady build up of their Thruvision portfolio. For me that single pointer is the direction of travel this company is taking overall.
Very good news this morning following on from the recent results. Looks like momentum beginning to seriously build now with profit protection also providing a significant runway ahead.
If they could just announce some really positive news on the commercial air space, then the shares would no doubt respond accordingly.
Wow, fantastic news. CBP were always the big fish loitering near the hook, seems we've now landed the big fish.
Last years results and this year 2022/2023 interims with be mixed up at the behest of T.B to attempt to keep s p depressed, and what's more he may well succeed.
Every 'trick in the book' smoke and mirrors deployed here.
No doubt the third element a presentation will also appear soon. No one other than the few major investors who own 80% will know exactly the up to date details.
Well, we got the answer yesterday on the results being delayed, but more importantly, an update which read well.
Good to see the $2.7m US customs win for the year in play along with the imminent expectation of additional passive pedestrian scanners related to this area. Profit protection appears to be continuing its traction with "strong interest" in the latest walk-through lane that increases the throughput rate. Looking forward to hearing more in the results presentation.
The latest Research note from April this year indicated that the next news would be the Company Results to be published in July. This date has obviously long gone, so one has to ask the question why the delay. The Research note would have to be vetted before being published, so the directors were 'onboard'.
I wonder if a flurry of trading from the any major Investors in Thruvision before the results are due to be published under Company Law at the end of next week will indicate a meaningful reason as to the unusual delay.
Let's not forget that the company had built up tax credits by March 2021 of £13 million pounds.
My expectation going forward is that there is the distinct possibility that the expenditure on R&D, coupled with the opening of new sales offices and staff may keep the otherwise profitable situation under control, at the same time increasing tax credits. This creative accounting (for whatever reason) seems to be the modus operandi of Tom Black. The profit margins on sales in very good. Let's not forget also that itb appears the majority of clients are taking up leases with product upgrades, with the largest instalments from clients skewed towards the end of the contracts, thereby assisting those clients with their cash flows, not Thruvision's.
Can't argue with your thoughts persimmon, indeed absolutely agree.
For the record, I have held here for a few years now following interviewing the CEO and recently added to my position.
From a personal perspective, on the one hand it can be argued that the market cap relative to the historic performance suggests it is well up with events, whilst on the other, recent progress and opportunity's imply potentially significant upside.
The Tesco roll out and other wins in profit protection look set to continue to gain traction, with the tantalising prospect of commercial aviation clearance and subsequent adoption quite possibly opening the door to a game changer.
The US process seems to be taking an age, which is rather strange given that it is already in use for military personal clearance.
Hopefully, we will learn more when the results are released, but perhaps more importantly hear of how the year in progress is panning out.
I note Progressive had, back in April, pencilled in EBITDA breakeven for the year in play with a much reduced pre-tax loss of £0.5m, so further confirmation of that and increased traction would be welcome.
Well PrivatePunter, those who follow this company will know that one important facet relating to the additions to the board of directors over the last couple of years will have noticed this. They are all experienced and have been involved with 'take overs' of previous companies they were involved with at board level. Tom Black choses partners very carefully and not without good reason. Whether that time is upon us I doubt, but if an offer comes in that the major investors think is a good one then one could take place at any time. Of course there would have to be an RNS and suspension in order for proceedings to take place.
As of earlier last week no date had been set by the company for releasing the results.
Not concerned by that, but it does make one wonder if something is in the wind!
The latest date for publishing the accounts is the last day of this month, 6 months after year end.
No, there will be no suspension for not publishing, but if the accounts are late without good reason then fines can be placed upon the company, but I fully expect Thruvision to publish by Friday the 30th September (2 weeks tomorrow).
Where are the accounts for Y/E March 22?
Will this be suspended if they are not published by the end of this month?
And why no explanation regarding the delay?
Between the 25th May 2022 and the 13th September 2022 of the top seven Investors 4 remained static.
The three movers have all bought more.
Canaccord 495,000 Up
Invesco 317,698 Up
Janus Henderson 695,244 Up
The price drop on small numbers of shares 'sold' is a precursor of a good release/s within the next few days. It's the usual direction manipulated by those in control to attempt to lure the unsuspecting into a sell position.
TBF....re annuals, they have to be released by October 1st at the latest by law. So 6 weeks maximum.
Surprised the annual report has not been released yet.
To note we are now being trading in the dark markets. Plenty of liquidity in the company then.
Full Year report and notice of Investor Presentation should be out very shortly.
afrc....this share is probably not for you, best time to sell in the near future in my opinion would be when the full results are out in the next few weeks. The MM's are doing the bidding of the company are keeping the share price depressed for a good reason. The tell tale is this; the Institutional investors (the main ones) are steadily increasing their holdings. Now above 92% .
The large movements are just those swops between them to capture nervous small investors. Investec Bank are buying (they will be tipped off, at the same time all the SINT share movements will be via them. All the time T.B is building up a very useful tax base to claw back against profits. The 'back end' loading of the lease arrangements to clients also helps in this regard.
How depressing again, the sp has almost gave up the gains it made after the recent good results and we most probably go back to the 25 p mark. What a terrible waste of money invested !!!
£800 sale the only trade on Friday, so expect Monday opening to be most probably a red LOL
Re your first paragraph......yes that's the way I see it. Remember also recent director buys at 33p.
Yes there may well be a recession coming with an adverse on the markets, but I believe we are in a fairly unique position to weather that storm. If people are under pressure to meet their living costs it follows that unfortunately more of them will resort to stealing products. With the pay back period now of around 1 year it will be seen as a 'no brainer' to invest in our technology to even more business owners.
Only my opinion. I will be holding for certain as I do not see any better prospects for making better investment in the medium term, and it would seem neither do the major investors.