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Just two trades today have made the mm's panic - if anyone wants these shares nothing has changed but they are 23% cheaper to buy. Admittedly India has begun to drop towards the Aim levels but it's still 128% Up in 12 months compared to our 24% 12 month drop before today. I'm holding on the hope they can get their debtors to pay up and find further finance too. Obviously this company has some great lines and therefore sales - get the finance sorted and things will quickly improve.
' Companies have bad debts all the time' - but I doubt if any on aim have 100% of revenue as DQ have, or at least did. Delisted companies can be found at London Stock Exchange site. Some permanent, some temporary,
i do agree with you and as an investor in dqe i hope you are correct. in defense of testpack3 though, (s)he did say "All IMHO opinion".
With respect, delisting seems rather like cracking a nut with a sledgehammer when the issue at hand is recoverability of sales ledger. Companies have bad debts all the time, they have provided against some and auditors have signed off. In my opinion, having been an auditor for a decade, I would put the odds of de-listing due to poor credit control at approximately 0%. Do you have experience in these matters? Do you have a precedent to support your opinion?
falling
Hi truegent, sorry for delay in replying, but I am infrequent visitor to bb's. My main reason for suggesting delisting , in view that the sales ledger debt may still be 100% of turnover, is that DQ may find it difficult to raise capital. Raising capital is a driving force in applying for AIM listing. There are obvious costs associated with AIM listing, and in the event they did delist ( requires 70% of shareholder vote), the minority shareholders would not have a market to sell their shares. It's a major concern for all PI's. They would be at the mercy of the company to make them an offer for their holdings. All IMHO of course. The recent rns re: new film, saw a spike for a day, which has now retraced, with small trading volumes. The cash flow is v concerning, and from a company that would release a rns at the drop of a hat, has now gone into silence mode.
DQE are a business that relies on contract wins...when they get one i think it is worthy of an rns....as for actual figures, i am sure there will be a quarterly report next week if last years rns's are anything to go by...
How are we supposed to make investment decisions on this piece of non-financial information? I'm invested here and it looks like good news, but what's it worth?!!?!?!?! Come on BOD - must do better.
...A nice rns this morning about a new contract win ! Bout time we had some good news....
By delisting do you mean the company will fold ? Or just remove themselves from AIM ? Do shareholders get their money back in this case ?
Historically, there has been a monthly flow of RNS ( or as near as dammit). After the FYR, and the collapse of SP due to non-recovery of sales ledger debt, Plummer-Andrews resigned, and has not been replaced. This resignation has been the only rns since FYR. The SP collapsed because of non-payments, and I would have thought, since it is price sensitive information, that a rns would have been released IF the sales ledger had been brought under some control. I can only assume that it hasn't, and the co is heading for de-listing. All IMHO of course.
last year the quarterly results were released on 9th august...which is a sunday this year...so maybe this year it will be this friday or next monday...
.
same as !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
looking fragile
so perhaps both here and India have bottomed before news??
Many thanks for sharing. I am still of the opinion that this share is cheap as chips and if I had any money left I'd put a lot in here. Hopefully in the next week or so I'll be able to do just that.
Good morning guys. I tried one further time the other day to obtain a response from DQE in response to my queries , which were basically regarding the SP differential between India and LSE / AIM – plus the outstanding receivables issue. I received a reply this morning from Rashida Adenwala - Director Finance & Investor Relations for DQE. All thoughts and feedback on her response would be appreciated,. It would seem that her previous reply to me had been lost somewhere in the wonders of Cyberspace – so problem solved. She has given me explicit permission to circulate her reply – which I have copied in full below - unfortunately I cannot post the brief presentation dated April 14th that she refers to as it is in pdf format. Does anybody know a way of posting a link to it, as it is quite a good read. Regards Steve “Dear Steve, I had already responded to your earlier email but I believe you have not got the email. First of all thank you for your trust and confidence in our Company and potential. Please find attached a brief presentation of our company which will be helpful. In the next couple of months you will have some announcements from our end in regard to some business developments as well as our quarter end numbers. With regard to the price variation, honestly as a Company we have no clue. We are giving the same information in the market in India as well as on RNS. We are focused on our work and delivering the projects on schedule. On the receivables, I agree it is indeed a matter of attention and all efforts are being made to collect the same. In fact we have a dedicated team only for collections of the receivables. We have confirmations from all the parties of the amounts due and payable by DQE. As per the commitments made by the customers, we expect to recover good amount of money from October 2014 on wards from the receivables. At the moment we are not looking at equity funding, but are at an advanced stage of negotiations for project funding for the production of our IPs .Trust the same is useful. With kind regards Rashida”
The Jungle Book Feature Film - 90' 3D stereoscopic feature film. The screenplay has been finalized by Billy Frolick and other writers. The final output of the stereoscopic trailer has also been generated. PRINT & ADVERTISMENT AND DISTRIBUTION DEALS ARE UNDER ADVANCED NEGOTIATIONS.
would be nice!!
the banks have been totally supportive of DQE. they can see the monies are coming in though far too slowly. DQE are seeking some sort of re-financing as they are somewhat hamstrung by the lack of cash. i have been re-assured repeatedly that this will NOT be in the form of a placing. £5million MC……….high risk and potentially a very high reward. the company has wom many awards, has multiple world class partners, has decent bread and butter work, is rolling out two new own IP products now, as in Lassie and Robin Hood. They should be completely finished now. Peter pan has still not been sold in the USA…? There are host of new mediums requiring fresh and unique content such as Netflix. There is very negative sentiment on this company which I hope and believe is way over done. A cashflow issue which I think is easily solved with some fresh investment. I think there is potential for a fast turn around in sentiment. 80% of stock held by II and management. when the tide turns it will run fast hence i continue to accumulate
I will but not till September/October…in the mean time i have been buying more at these levels. what happens to a £5million MC company when it pulls off a deal for the $48million JB movie production?….
In fact, judging from how far we've dropped, you need to get the polish and the hoover out my friend!
I agree with H&N. I suspect this will rise as soon as some properties get cleaned.
great opportunity? well who knows...with such high debt and receivables, it is high risk...why is that great?