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And the Chairman and the CFO both have issued a basic timeframe for results at an FLX investor evening which has proved to be bunkum so even when they communicate it turns out to be hogwash for straw clutchers . Desperately trying to hold on to some straw as the SP sinks.
Good post GLR. Wait for what's left of the board thought police to come on here to say you are a short, a deramper or have an agenda here. Posting negatively about FLX is not allowed don't you know?
After watching FLX for 12 months, many here will know I was looking to take a position in June (what I thought was close to pre-results) - my concern was 1. Of course the revenue and losses from the previous balance sheet 2. the lack of updates on solarwinds/growth from a truly significant cash injection 3. Part of 2/ the lack of comms
Then, after paying closer attention, we are left here on SEPTEMBER 16TH almost three months later without any indication of results, and zero communication as to why the results are delayed - apart from the odd rumour to do with auditors, well it doesn't wash with me there have been many companies this year forced to change brokers/auditors and it resulted in a short delay, certainly not months
Thanks Noel. We will see when these results come out eventually. Fingers crossed for all genuine holders here but I am extremely pessimistic needless to say.
Ignore FK1 at your peril.
I learned that the hard way.
Good morning Ershaitan. How is 10 weeks before results were due "so close to results"? These bigger Auditors should be easily able to manage these options which even you say were "very low amounts". How come five weeks after they were appointed both Mike Read and the CFO were making projections at an investor conference about the date of the release of results but made no mention of an issue with the Auditors or factored it in?
As for risk/reward I have been posting on this share since 54p. Now that the bid is on 1.25p- lower if you want to exit in any decent volume- you could have said at 40p,30p,20p,10p,5p that the risk reward was good here. But it hasn't been. Not at any point since 54p.
With regards to TW if the company were confident enough to tell him that the results would be within 2 weeks, why don't they tell the market in an RNS? Or is this company rich tea cakes for the few but crumbs for small investors. The ultimate bread and circuses.
Are you new to this share Ershaitan? It has a litany of failed placings so your referencing of placings as statements of confidence is sorry to say 'crazy'. In fact they have dropped much lower from 4.5p and 3p already. SPs on 4.5p and 3p will be very very familiar to the board police here as they tried to drive off any negative opinion on the share as having an agenda, a short or the poster is a deramper trying to get in cheap. Fairview himself two weeks ago congratulated someone who bought at 1.6p saying they had got in cheap and would do well when results are out in a week
Mike Read himself spaffed 50,000 on these at 7p. The well remunerated Mike Read with his finger on the pulse of FLX now has 17% of that holding left on paper.
As for delisting yes that is possible. The BOD have sat on an SP in a death spiral since 54p. Not one current investor here has made money at current prices.. Not one. Many are sitting on hefty losses. If it goes private 95% of investors will have been diluted down so much they will be chrystalising losses. Not much to be thankful for here.
Still complete silence on the results of course. This company is something else. At 2.8p absolutely hands down it was the best short on AIM. On any dead cat bounce from here if I did shorts I would short it out of existence. I see small PI's are still trooping for the exit in the last few days. Beyond terrible!
Come on unfairview - what did you mean by "followed"?
There are two possibilities, and one proves you a liar and the other proves you to be a hypocrite.
You said you "followed" FLX, so let us know what you meant by "followed".
Regarding taking it private - in one video interview, Mike Read talked of selling Falanx and he alluded to a figure of £300 million.
Does anyone recall that figure being mentioned?
By the way eshaitan your posts shedding some light on the auditing issues were useful and not much useful information is ever posted on here.
eshaitan they changed auditors because supposedly they wanted to move to a bigger firm. The idea was that a bigger firm would give them more credibility and it makes some sense. It seems this has led to an unacceptable delay in publishing results but at least now surely nobody will be able to question the veracity of the numbers. Hopefully we will get the numbers soon because I'm tired of the guessing game.
Should be next week.
Just reading some of the comments the results were delayed as falanx’s auditing firm changed a few months ago. The results would have been released some time ago but the new auditing firm are questioning some of the options but these were very low amounts. The take away from share prophets podcast is TW thinks they shouldn’t hand changed auditors so close to results. He will also try and get MikeRead on for a tough interview which won’t be behind a paywall so fallingknife you will be able to listen to it without supporting the site financially.
I’m genuinely interested to see the results. As Tom said they are in the last chance saloon as they have disappointed continuously and as a shareholder he isn’t impressed. The Mcap is tiny now, just 6 million, they must have a fair chunk of cash left as well.
On a risk/ reward fallingknife I would think buying now isn’t a completely crazy idea. Didn’t they buy First base (is that right?) by raising money at 4.5p and then raise money from institution VCT’s at 3p to cover company costs and solarwind expansion? They would have to spectacularly mess it up again to drop much lower. It kind of makes sense to scale up as they were a sub size business to be listed on an exchange. If they can’t get profitable from what they have now they should delist and go private and save some costs.
The spread tells its own story. This is a classic bull trap. The 1.267p trade was under the bid though not a sizeable trade compared to recent buying. The buyer or buyers who spaffed £25000 recently on FLX will find it hard to exit. Of course if the results turn out to be stellar then it will be of no concern but that's the nature of FLX as you would expect a relief rally in the share. Results might be Monday as you say but perhaps too in true plate-spinning fashion the BOD will style it out until the end of the month. Lots of snouts in the trough here and most don;t want to come up for air.
Crazy 1.47 buy followed by a 1.26 sell
Huge spread if no delayed, hidden or on NEX
Results on Monday?
Thank you for the information Hurst10.
However, the way you have expressed this is misleading - "2000 MSP’s will generate £400,000 per month"
If I recall the FLX statement on that point - they hope to get a certain number of clients from the SolarWinds deal. Saying "will" makes it sound certain, well, to me it does.
To say "will generate £400,000 per month" might create the wrong impression in anyone who wasn't aware of the distinction between "will" and hoping to.
I hope they get \ have got many more clients that hoped for.
The article/ interview was published this week and has not been picked up by the U.K. investors, however the important thing is the executive officer is former head of Dell security division.
SolarWinds is one of the largest in the world with regards to MSP and Falanx’s role covering the Cyber security of 2000 MSP’s in the U.K, with on average 50 clients each.
2000 MSP’s will generate £400,000 per month and with 50 clients each , that est.will go up substantially.
https://www.crn.com/solarwinds-security-exec-timothy-brown-msps-top-of-my-risk-level-/1
Today's wishful thinking - The results have been delayed due to negotiations taking place and they hope to announce, along with the results, a monster deal that sends the sp to 10p.
Come on unfairview - what did you mean by "followed"?
25000 that has been spent on FLX in the last week or so. Spread is quite wide so that is some punt in my book. Beware of falling knives whoever you are!
Results have to be filed by the end of this months so 10 trading days to complete this. They have allegedly informed TW that there is an issue over options and results. On the ninth of September Ershaitan said they would be out within two weeks so effectively 23rd of September latest. Yet no announcement at all. Why would a discussion over options take so long to resolve? Distinctly odd.
Morning NS and GLR. i was going to pass the credit for the post to GLR Noel. FWIW I don't think we will be seeing people positioning before the results. That has already happened with a flurry of buys and an inflated SP before it retraced quickly whence it came. If anything it is vulnerable to heading towards 1p on the bid as the longer this radio silence continues the more spooked holders you will have. We know that any attempt to exit in volume will be sub bid price. Incidentally if they were confident enough to tell Tom Winnifraud I dont see why they couldn't announce it by now. I now know when Mike Read says 4 weeks he doesn't mean four weeks nor eight weeks nor even 10 weeks.
ECSC results - "results for the six months ended 30 June 2019" - not 31 March!
"Unaudited results for the six months ended 30 June 2019
and current trading update
... [figures] ...
David Mathewson, Non-Executive Chairman, commented:
"Since period end, the return to profit, positive cash flow, and strong Q3/4 outlook are testament to the continued improvements across the business. The recent release of the first significant GDPR related cyber security breach fines highlights the continued need for ECSC's proven expertise and long-established services which is now showing in our current trading.""
https://www.investegate.co.uk/ecsc-group-plc--ecsc-/rns/interim-results/201909110700038934L/
Sorry - that should have been "Thanks GLR1990" - for the information about the META data.
Thanks FK.
I wonder why they removed it?
I'm looking forward to our party when the results come out.
Ni Noel
If you google it, you can see that the page did exist but has been removed by the company, the Meta description can still be viewed partially on Google
'Falanx celebrate office expansion with launch party. It's been less than a year since Falanx Cyber Defence relocated from Reading and opened our new .'
Looks like it's going back down on small volume again, likely to stay in this range 1.2-1.4 until results, as AIM is generally the punt mentality - would not be surprised to see more come on board in the 1.2p range pre-results
GLA hope the results are great for those invested (not invested myself just for transparency, awaiting results to make a more stable, educated decision, albeit less upside if the company is making progress)
Double Bump. Normal service is resumed. That 14000 trade at 1.4p if a buy it not looking too good. Not sure what spooked the market but it is getting whacked this afternoon. I had to check to see if it had released results.
This was the page that Google took me to and where I got the "Page not found message".
https://falanx.com/launch-party/
I searched using "Falanx expands in Reading".
This appeared in the search results -
"Falanx celebrate office expansion with launch party - Falanx
https://falanx.com › launch-party"
but when I clicked on it, I got "Page not found".
So they have had a party. How much did that cost?