Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Interim Results for the Six Months Ended 30 June 2012 ABI, a leading designer and manufacturer of rapid diagnostic screening and testing products, announces its interim results for the half year ended 30 June 2012. Financial Summary § Revenue totalled $787,194 (H12011: $1,090,000) § Adjusted EBITDA: ($782,580) (H12011: ($537,469)) § Adjusted Loss Before Tax: $1,023,283 (H12011: $838,352) § Gross Profit Margin: 50% (H1 2011: 66%) § Administrative expenses reduced by 31% from H1 2011 § Company continues to be debt free with current assets in cash and cash equivalents of $482,950 (H1 2011: $2,598,094)
http://www.investegate.co.uk/Article.aspx?id=201209170700103585M
should be a nice upward trend on todays announcement , as i thought quietly working away , i like the management in this co.
2011 they gave out regular positive rns . since the announcement in jan , they have been very poor at keeping investors informed . i can only hope like yourself that they have been busy getting the business back into order after the severe let down they encountered. i was slightly concerned , but now see it as a positive , that the last rns mentioned that they needed cash and were looking at ways to raise it. that was some months ago and there has been no news on that front , so i am assuming business has picked up and they no longer need the cash injection. two nice buys yesterday , so maybe a leak of good news to come hopefully.
should be getting the half yearly report fairly soon! I must admit to being somewhat dissapointed with the lack of news and slightly concerned!
A one monitoring this share any idea on its wind up value. Many good patented products.
I interpreted the following obscure sentence: As a result of uncertainty of PharmaNova's future success, a majority of the $1.65M 2010-receivable was reserved in 2011." to be referring to the bad debt figure of $1,650,185, which is exactly the $1.65M figure. If this is the case, I don't recall there ever being any RNS warning that PharmaNova was such a risk. and since it is such a big figure could (and has?) influenced the share price. They should have revealed this much earlier and clearer than they have. IMHO
provision of bad debts is a large figure this time round but i think that has something to do with the contract getting messed up that they warned us about in the rns just after xmas . they need to sell some of their novel and highly lucrative patents to one of the big boys in my opinion to try and get some cash rolloing in as the cash position is not looking good at the moment .atb
Thanks, terrydactol, those are good points. I accept the possibility of patent cost. But the apparent bad debt provision is almost equal to the 2011 turnover, which is almost 50% of 2010's turnover, so still seems to me to be a concern over how this was managed.
i think you will find the admin expenses are so high because they has a lot of patents go through in the financial yr , and patents dont come cheap. the provision for bad debts is for goods and services provided that they dont htink they are going to get paid for . most companies have a bad debt service provision if they are in the services sector. hope this takes away some of the doubt
Hardly surprising they're in such difficulty, look at adminsitrative expensesv2010: $1,521,084 2011: $3,250,195 Can anyone tell me why "admin expenses" should be so high for this minnow? Also not explained in the report was the provision for bad debts: $1,650,185 (2010 $12,320) where's that from? And what does this mean? "In late 2010, an agreement was announced with Al Tadawi Medical Equip TR LLC (later acquired by PharmaNova Medical Equipment ("PharmaNova")) to expand the sale of the Tri-Cholesterol "Check" product into the Middle East and India. As a result of uncertainty of PharmaNova's future success, a majority of the $1.65M 2010-receivable was reserved in 2011." Is there anyone with a greater understanding of this company and the jargon could explain to me? I expected the Pulse Health setback but I do not fully understand what the issues are with PharmaNova how where this provision for bad debt has arisen. And the admin seems astronomical
tagged on the end "The Directors believe that the continuing improvement in the Company's commercial prospects is not reflected in its current share price and that this has a detrimental impact on the Company's ability to raise further funds to invest in the growth opportunities currently available to it. The Board is reviewing a number of options which might improve the situation" Hopefully they can sort something
a bad rns the thing that bothers me was the reference to their means of investing and growing have been severley dented due to the strangling SP here, their options to raise money are nil pretty much. If they cannot find ways to get money elsewhere where does that leave us ?
Actually the RNS is not so bad, yes they've taken a massive hit with the $3.5mil loss, but the future could be ok if, and it's a big if, things go to plan. I have to say, if I had my time again, I would be tempted to come in on the current price
http://www.investegate.co.uk/article.aspx?id=201206280700053054G&fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Akers Biosciences%20Alert They still havent replied to my email though!
AIM 19 states that an AIM listed Co must provide annual report and accounts to shareholders within 6 months of year end, so end of this week at latest!
Just sent a chaser asking when we might get some news, any news, just a sign?
and no reply. Apparently though having talked to my broker they still have £200,000 odd cash in the bank together with £200,000 money still owed so nearing £500,000 in cash available. Quite poor customer relations though!!! I would think the results must be in the next 2 weeks
Well over a week has gone by and no reply to my question ref annual results. I assume AKR are still trading???
be interesting to see if they reply, as I sent them a message about 1 week ago and never got a reply! it was around 21st June 2 years ago so should be soon I reckon
Just emailed AKR to find out when the Annual Report can be expected. Will let you know when they've replied
we had no final results here yet ??? They were end of April last year ???
II ARE SELLING
There's been enough time now to see this is at the bottom. As usual AIM quickly looses interest. The bad news in Dec hit the share badly, but end of year RNS won't be as bad as a result of the bad new already being out. So I expect to see some recovery in the next few months. You can't rush this one, but when you're at the bottom you can only move sideways or up! DYOR, GLA
Guys, Does anyone know where we sit financially now that the 3.2m deal has fallen through ? How long can we run off the cash we have ?