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Cash flow and margins are crazy, tons of research on this and it looks interesting even more interesting if it escapes the litigation issues.
Big buyer everyday last week and it looks like he isn't done! Another few 100k this AM. The volume over the last 10 days is a confirmation indicator if I've seen one.
Just keeps going up! Real profit here, I can't stop topping up. Im in San Antonio in June on business so may well try to arrange a visit to BSG. The risks are there with this one but they are doing everything right, reducing debt and getting some big name clients in - deutsche telekom etc. The management team have really stepped up. Bravo BILL!!
Should correct earlier as cash at 31/12 will be circa $5 m - even so net debt of $11m wil be cleared within 12 to 15 months so we will generating circa 50% of mkt cap for lets say 6 more years.
Agree totally and have also been adding over last few weeks. Mkt Cap is $15 m (£1 :$1.7), unrestricted cash at 30th June was $14.78m and free cash flows are circa $10m although declining year on year as legacy business runs off. Debt is now $16m so if we contra cash and debt we are generating free cash flow around 55% of mkt cap - looks way undervalued unless and it remains the big if the lawsuit on enhanced billings has any merit - even so a couple of million settlement would not hurt us that much. This really should pop to around the 8p level in my view.
Great RNS today - Bill moving in the right direction, clearing debt and with the US economy picking up this should build nicely. 85% of shares not in public hands. Anyway based on all the positives Ive had a little nibble but not showing. Is this also on isdx?
not much though to warrant 30% increase in sp think there is news on the way
People buying the stock?
whats going on here any ideas?
Moves on very little buying. Chart looks as though 5p is a short term realistic target.
The Company was informed on 22 April 2013 that on 19 April 2013 Hawkeye Capital Management ("Hawkeye") acquired 1,279,033 common shares of par value $0.59446 ("Common Shares") at a price of 3 pence per Common Share. ___ Following this transaction Hawkeye is interested in 66,172,894 Common Shares representing 23.43 per cent of the Company's issued share capital. ___ Mr. Rayan Joshi is an analyst at Hawkeye Capital Management and a non-executive Director of the Company.
Good to see the stock being bought
Good to see and a substantial amount held by him
Hawkeye Capital Management ("Hawkeye") acquired 15,130,390 common shares of par value $0.59446 ("Common Shares") at a price of 2.2 pence per Common Share. Immediately following this transaction, Hawkeye sold 3,500,000 shares to Phipps & Company, LLC at a price of 2.2 pence per Common Share. Following these transactions Phipps & Company LLC is interested in 19,703,860 Common Shares representing 6.97 per cent of the Company's issued share capital and Hawkeye is interested in 64,743,861 Common Shares representing 22.92 per cent of the Company's issued share capital. Mr. Norman M. Phipps, the Company's Chief Executive Officer, is the owner of Phipps & Company, LLC. Mr. Rayan Joshi is an analyst at Hawkeye Capital Management and a non-executive Director of the Company.
Can seel 250K though so looks good for a rise.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11533022 This leading provider of telecommunications clearing and financial settlement products, Wi-Fi data solutions and verification services, announces the regularly scheduled repayment of $2.4 million of its senior debt made today. Accordingly, at the close of business today, total outstanding senior debt is $23.2 million.
Looking Ahead We have aggressively reduced overhead costs and managed cash flow. Our debt balance is $30.4 million, and we are comfortably generating sufficient cash to meet debt service obligations. The successful framework for paying litigation expenses with respect to one class action adds desirable clarity and certainty to the business. On August 31, 2012, in furtherance of our effort to seek new growth avenues, we announced the acquisition of the issued share capital of UK-based Connection Services Holdings Limited ("CSL"). CSL is a leading Wi-Fi solutions provider and systems integrator, offering value added solutions to the Wi-Fi network operator and service provider marketplace. This purchase allows us to expand our product line and customer base in the wireless data market. The purchase also helps diversify the wire line portfolio and positions the Company as a Wi-Fi solutions industry leader through expansion of the tier one customer base, addition of veteran leadership and further strengthening of our industry leading product portfolio. Current Trading and Prospects First half revenues and EBITDA were in line with expectations. For the reasons cited elsewhere in this announcement, and in line with expectations, we anticipate that revenues and EBITDA in the second half of 2012 will decline modestly from first half levels.
Financial Results Revenue and EBITDA in the first half of 2012 compare unfavorably to the first half of 2011. This was anticipated, due in part to the continuing decline in volume for enhanced service transactions and the ongoing decline in land line phone usage. The secular decline in land line phone usage affects our historical core product offerings for long distance and operator service phone calls. The downward trend in billable land line phone transactions is likely to continue, as more people use wireless devices and prepaid calling cards. As previously announced, moreover, the two largest LECs in the U.S. will discontinue acceptance of enhanced service transactions during the second half of 2012. We expect to cease billing for all enhanced service transactions by year end. First half results in 2012 were also adversely affected by a $10.3 million pre-tax charge for projected expenses associated with consumer class action litigation. The charge arose from the Company's contractual obligation to indemnify LECs for expenses relating to transactions submitted to them. This charge resulted from a favorable agreement reached with one of the LECs, allowing the Company to use $15.3 million in reserves held with the LEC to pay this indemnification obligation. The settlement of the litigation expense is not expected to materially affect the Company's cash position or ongoing financial performance. Included in the $15.3 million of available reserves is $5.0 million that the Company has placed in a restricted cash account dedicated to payment of litigation expense. As set out under the 'Current Trading' section of our 2011 audited results statement released on March 27, 2012, we have been managing numerous governmental and class action litigation issues and this process continues. With respect to the action initiated by the Federal Trade Commission, the Company continues to vigorously defend itself, and there have been no material developments since the action was initiated.
Commenting on the results, Norm Phipps, Interim Chief Executive Officer, said: "Our first half revenues and EBITDA were in line with expectations. The unfavorable comparisons to last year's first half results were anticipated, due in part to the continuing decline in volume for enhanced service transactions and the secular decline in land line phone usage. Nonetheless, our continued emphasis on cash flow resulted in $10.0 million of cash generation from operating activities. We additionally succeeded in applying $15.3 million of reserves held by a LEC for use toward satisfying obligations under a previously announced consumer class action suit affecting our business. We continue to be focused on resolving litigation, increasing operational efficiency and reducing debt."
http://www.investegate.co.uk/Article.aspx?id=201209060700065020L
"The purchase of CSL positions BSG to be the pacesetter in Wi-Fi solutions for service providers." said Norm Phipps, Interim CEO of Billing Services Group. "We understand that to meet the needs of mobile carriers and Wi-Fi operators around the world we need to provide flexible solutions that enhance the user experience and encourage adoption. The addition of CSL's products allows us to meet our customers' needs in this rapidly growing market." Chris Phoenix, CEO of CSL, stated, "The combination of the CSL management team with BSG's proven executives bolster the ability for rapid growth and market leadership. We're delighted to be part of this growth story." The purchase price is £1.4 million of initial consideration payable in cash which will be utilized to acquire the issued shares of CSL and to retire certain shareholder loans and other obligations. There is also an earn out, capped at a maximum of £4.6 million, based on the achievement of certain levels of revenue. There is no earn out if CSL does not achieve £2.5 million in revenue for the twelve months ended March 31, 2013. The maximum consideration is payable if revenues of £5,264,000 are achieved by CSL for the fiscal year ending March 31, 2013. Subject to the ability of certain of the shareholders of CSL to require that up to £500,000 in aggregate of the additional consideration be paid in cash, the additional consideration may be in the form of cash, BSG shares or a combination of cash and BSG shares at the Company's option. The Company does not expect the acquisition to have a material financial impact in the year ending December 31 2012, although CSL is expected to record a trading loss of approximately $550,000 for the four month period ending December 31, 2012. The Company will finance the purchase with a short term loan from its existing bank group, led by Texas Capital Bank. Under this new loan facility, the Company will borrow $3.5 million to allow for the payment of the initial consideration and to provide working capital as necessary to CSL. BSG expects to repay the loan in the first quarter of 2013. In the year ended March 31, 2012, CSL recorded aggregate external revenue of £1,104,000 and a loss of £652,000.
Billing Services Group Limited Purchase of Connection Services Holdings Limited August 31, 2012 (San Antonio, TX) - Billing Services Group ('BSG' or the 'Company'), a leading provider of clearing, settlement, payment, financial risk management solutions and Wi-Fi data clearing, announces the acquisition of the issued share capital of UK-based Connection Services Holdings Limited ('CSL'). CSL is a leading Wi-Fi solutions provider and systems integrator, providing value added solutions to the Wi-Fi network operator and service provider marketplace. This purchase allows BSG to expand its product line and customer base in the wireless data market. The purchase also helps diversify the Wireline portfolio and positions the Company as a Wi-Fi solutions industry leader with expansion of the tier one customer base, addition of veteran leadership and an industry leading product portfolio.
http://www.investegate.co.uk/Article.aspx?id=201208310700051416L
Mtuk1 settle down son was only asking a friendly question!!!
Look at the trades above. Its not brain surgery?