Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Its no surprise this has started to rise on the back of those large trades.
I see around 10% of co traded today. Look forward to finding out why
If you read notes. They have enough cash to see them through the year but they are obliged to caution on risks if things don't go to plan. Considering raising cash in near future. Hope they could get some form of credit line or convertible issue rather than equity issuance at current levels. Director dealing will be a barometer.
· Overall revenue for H1 2014 increased to $7.3 million, up 24% from H1 2013: - Drinking Water revenues increased to $2.0 million, up 124% from H1 2013 - Environmental Water revenues increased to $1.2 million, up 29% from H1 2013 - Recreational Water revenues increased to $4.0 million, up 1% from H1 2013 - Antimicrobial Coatings revenue were $0.1 million, versus $0.1 million in H1 2013 · Gross margins increased two percentage points (from 37% to 39%) representing approximately $0.7 million of margin improvement versus the same period a year ago. · Operating expenses fell by more than 7% to $8.4 million, versus the same period a year ago, representing a $0.7 million reduction, as a result of a continued focus on cost management across the Company. · The Company ended the period with $8.3 million in cash, comprising $2.3 million of cash and cash equivalents, $4.5 million of short-term investments and $1.5 million of restricted cash, compared with $13.0 million in total cash as at 31 December 2013. Cash flows used in operations of $4.7 million decreased by 34%, or $2.3 million, compared to H1 2013.
Solid progress. Have already largely declared H1 results. Key thing is current trading and not needing any more cash
What sort of results are you expecting? Good? I've been having a look at HALO and seems a pretty reasonable company - I like what they do!
Whilst a fan of the co why can't they wait until tomorrow to release good news? Hmmm. That said they do have form in this regard
HaloSource, Inc. (HAL.LN, HALO.LN), the global clean water technology company traded on London's AIM, is pleased to announce that it has signed a strategic supply agreement with Fluidra, S.A. ("Fluidra"), to accelerate the delivery of HaloSource's enhanced recreational water solutions into the European and Australian pool and spa markets, for an initial term of up to three years. Fluidra is a multinational group listed on the Spanish Stock Exchange which develops applications for the sustainable use of water. This agreement provides Fluidra with the exclusive rights to distribute certain HaloSource Recreational Water products into specified key European countries, excluding the UK, providing Fluidra meets certain minimum purchase levels over three years. To maintain exclusivity for calendar year 2015, Fluidra must make minimum product purchases from HaloSource worth at least US$200,000 to be shipped by HaloSource by 31 December 2014. To maintain exclusivity for calendar years 2016 and 2017, Fluidra's minimum product purchases are US$400,000 and US$500,000 respectively, to be shipped by HaloSource by 31 December 2015 and by 31 December 2016 respectively. Fluidra is a world leader in the supply and distribution of systems and components for both private and public swimming pools (in ground and above ground pools) and wellness facilities. Fluidra operates in 41 countries by way of 150 branches and production centres located in the main markets. Fluidra products are distributed to more than 170 countries due to an established and extensive sales network and effective marketing reach. Fluidra has provided solutions for professionals and the general public alike for over 40 years and their products are distributed in specialty shops, hardware stores, fitters and large retail premises. Every year over 25,000 professionals use the products distributed by the various brands with which Fluidra operates (AstralPool, Certikin, CTX, Gre, etc.), and 25% of all new swimming pools that are built in the world include some of Fluidra's products. CEO of HaloSource, Martin Coles, commented: "We are delighted to have secured a strategic supply agreement with another large and well-respected multinational company such as Fluidra, which further validates our ability to deliver innovative products and technologies. Fluidra's number one position in the European swimming pools and wellness facilities market, coupled with its world-class global sales and distribution network make it the ideal partner for HaloSource, from which pool and spa owners will benefit. "In addition, our companies shared values around the sustainable use of water provides a firm foundation for building an impactful long-term partnership. We look forward to working closely with Fluidra and developing this important relationship."
definitely making decent progress. the large decrease in operating expenses must have dropped break even earnings level quite considerably. the US pools sector appears destined to offer significant 2nd half weighting which is reasonable given that it covers the pool season. orders for this division were booked late in the 1st half last year..and flagged up to flatter otherwise disappointing figures. i imagine that they could still do with a bit more cash to see them through. I'm a little concerned that they are selling on Amazon. Whilst this can offer higher sales payment terms are painful for suppliers that need a quick capital cycle. could also exert downward pressure on pricing across the board as that's what Amazon does. indications are that drinking water will progress strongly from current levels.
i think that the management should have bitten the bullet and raised a bit more cash when issuing the results rather than declaring their intention in the notes to the accounts. they need to announce an uplift from the chinese launch to improve sentiment. for the time being the price will be nailed down by uncertainty. the risks of illiquidity fully evident here. i still believe that the company has good potential but will delay adding until they've raised some more cash. the overhead reduction probably reduces the breakeven level of earnings quite a bit.
After two director buys.
What's your opinion now.If you were inclined to buy at 16p I hope you didn't act on it.As for Tom Bulford,i'de like to stick these where the sun doesn't shine.I wonder what Jarnel think's of Red Hot Penny Shares now.
please correct me if you think i'm wrong but the fall here seems out of all proportion to any concern about the earnings shortfall and EM exposure. The US provides a large slug of revenue through pools biz which is back on track. Sales in China are rising and the $500k stand still payment is a precursor to a market launch for which product is being shipped. The volumes are tiny and anyone who is cutting their losses and running is getting clobbered on the price. I also believe that the Renminbi is more likely to rise rel to USD than fall. This would amplify increasing chinese sales.
I first heard about Halosource from Tom Bulford when it was trading at around 140p. it was an excellent story so i put it on my watchlist and forgot about it. Surely their sell rec is more about maintaining some sort of credibility. I'm more inclined to buy at these levels. it's not an appropriate share for those who dont have the patience to wait and a tolerance for volatility. To my mind the co is finally starting to fulfill its potential!
I think you should study up on your percentages.At 17p HALO is still down 50% from the 34p that RHPS recommended them.Today RHPS abandoned ship and recommended selling HALO at 18p taking a 46% loss.Thank God for nothing.
Another good move looks like the market is short of stock
And now you are back in the black. thank god for red hot penny shares :)
Now down 70% since Red Hot Penny Share recommended it.Not far behind NEW now as their worst recommendation.They should be struck off.Pity the FSA can't do something about them.
In this evenings update, Red Hot Penny Share changed NEW from a buy to a sell,taking a massive 94% loss,and also changed OXA to a sell taking a 55% loss.They are currently down 30% on HALO,so how long before they make this a sell.
As expected,this has been on a downward spiral since Red Hot Penny Share recommended it in November.Hope it's not going to be another NEW WORLD.That's dropped 85% since they recommended it 6 months ago.Reminds me of a Hollies record.King midas in reverse.Oops,showing my age now.