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No not at all. Have I not been reasonably accurate in my assessments? I have a lot of experience in tech startups across many sectors. Lack of transparency is not a good sign, there are many other red flags I have mentioned before so will not repeat. What is your assessment?
I am picking up a whiff of schadenfreude.
Not in prepayments - could be some fwd contract 'costs' in there but nothing material. The other receivables could be 'Amounts Recoverable' but not yet invoiced, but again no material amounts. Interesting stock figure - not sure what to make of it.
Very poor and disappointing results.
The forward revenue is probably in 'prepayments'??
I need to correct my previous post - moving 'no growth to negative growth'. The lack of any sign of deferred revenue on the SFP continues to support my concern that no recurring revenue streams currently exist. Crazy current MCap to Rev multiple given lack of recurring.
Please review the Chairs historic updates - big red flag!
And a great day of volume.
General market sentiment, or some insider news I wonder?
Good to have positive calls from influencers. Let the contracts continue to roll like a freight train to give some solid finance numbers.
Andrew Hore, The editor of The AIM Journal and winner of last years Proactive Investors share tips competition for 2021 has tipped this company this year. (Last year his tip, SkinBioTherapeutics, finished +158% & was +300% at the halfway stage but am sure no one would have been complaining at the finish)
This is what he says about his new tip for 2022: “Cordel, previously known as Maestrano, has developed software-as-a-service services using LiDAR (Light Distance and Ranging) technology, which can significantly cut the cost of rail track inspections. It has already won contracts in Australia, the UK, Japan and North America, where the potential is enormous. Arden expects Cordel to move into profit in the year to June 2023. At 11.5p, that could put the shares on 16 times prospective earnings with potential to fall to three the following year. The forecasts could be optimistic, but there is no doubt that momentum is building up.”
https://www.proactiveinvestors.co.uk/companies/news/969650/15-investment-tips-for-2022-stocks-funds-and-crypto-ideas-from-the-professionals-969650.html
The contract is obviously good news for the company, but it has a long way to go to justify the current MCap. TCV looks very modest given the scope claimed and I wonder what that means for a TAM in the UK.
3.5m contract "zero growth" - I was referring to the latest published results, so yes zero growth.
Would love to see the numbers behind the contract, how much is for hardware, amount expected to be delivered by Dguage for services and software etc. I suspect the gauging algos might be delivered by Dguage but time will tell.
Brilliant news. This deal proves a number of things about Cordel: the technology works, the value being delivered is high and warrants significant sums of revenue, it is a genuine SAAS solution, the partner model works and the product fits the market. I am now quite optimistic about where this company goes next. Selling into companies like Network Rail typically has a long sales cycle (12 months + ) from a standing start. We can reasonably expect other deals with similar sales cycles to be coming to fruition in the coming months. A similar size contract from the US would be a very strong buying signal for me.
I'd hardly call a 3.5mil contract "zero growth".
I don't quite agree with your SaaS opinion, but even if it were they case, they also offer infrastructure and means to facilitate inspection and surveys, owning as they do a state of the art surveillance drone - one of the best, if not the best, for LiDAR.
Network Rail wouldn't have reused them if they weren't impressed with the results.
It's only a matter if time before some large contract wins in the USA. If Network Rail have bought in more, the US pilots will likely do the same.
Quids in next year, I'd say.
How has it proved itself. No growth at present, finally reported by Chair. Even freight trains move forward at a slow pace :)
This means losses will be higher than plan, but maybe cash burn not that much higher due to lower W/C but who knows........the chair is not one for releasing any forward figures.
This still brings us back to the same place, Crdl is a transaction business being priced as a SAAS company. It's on AIM as it needs access to cash ....... simples. If it really had merit it would be funded by founders and debt or if really high growth then by PE. The Maestrano Chair & NEDS are treating this as a Retirement Plan :). And it works!!!
Continuing to prove itself in a positive direction. Rolling like a freight train?