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Exactly and that's why I may have another 100K shortly
Pelatro confirms that it is experiencing unusual delays in collection of receivables from four specific customers, together amounting to c.$1.1m (of total receivables of $4.2m). The Company is in active and constructive discussions with the four customers and expects a positive resolution.
So the company might update shareholders soon with some positive news. Even if they don't receive the funds by Oct. they are sure to announce another contract win.
Interesting move this morning. Not much stock in free float so buyers drive the price up very quickly
I think this is the bottom and could quite easily hit 5p+ in quick time
Now priced to fail. Why has the company not presented on Investor Meet Company this year? They're clearly frightened of the questions they'd face. Next 6 months crucial. Pure gambling money at this stage.
Market cap now £1.1m, incredible yet surprising downfall. Still seems undervalued, fingers crossed positive news soon.
Dealing with the countries they are and the decided to look at debtors as an after thought during their half year review?
Are they serious?
Number 1 job of all companies - manage working capital on a daily /weekly basis - esp when cash is tight
Gobsmacking the level of incompetency - beggars belief. More than avoid
One of the reasons I have not bought via Primary Bid for two years now. 50% chance of this going into administration. So many PB offers have. BOTB sold stock on behalf of the directors at £24....now taken over at a fraction of that price.
Pelatro (LON: PTRO), the AIM quoted telecom Customer Engagement software specialist, is pleased to announce, a conditional offer for subscription via PrimaryBid (the "PrimaryBid Offer") of new ordinary shares of 2.5 pence each in the Company ("New Ordinary Shares") at an issue price of 40 pence per New Ordinary Share (the "Issue Price"), being a discount of 23.8 per cent to the closing mid-price on 14 June 2021. The Company is also conducting a £2.15 million placing of new Ordinary Shares at the Issue Price by way of a placing with institutional and other investors (the "Placing") as announced earlier today.
Another fund raise to follow. Best of luck with that. Avoid
A company that constantly deals from the bottom of the pack cannot be trusted I’m afraid
That's quite significant impairment considering their residual equity after loss last year.
Their liquidity wasn't in good shape even without this update.
So it appears that there are not any export guarantee schemes, insurance policies or any other similar default risk reduction measures in place. Great!
Primary bid 14/6/21 for 40p 24% discount .
At the placing time blocked from buying on ( D )
Thank GOD with hindsight 8p now.
Thought I knew it trying to buy 15th March 2021 @ 35p
Then 6 /4/21 37.2p & a lower 32p on 9/4/21
Thanks, I had missed that last week - good news at last, and some positive signs. Perhaps this will now start to climb back up?
Friday's AGM statement seems to have gone unnoticed, but - at last! - it seems to show a continuing momentum and recovery:
Https://uk.advfn.com/stock-market/london/pelatro-PTRO/share-news/Pelatro-PLC-AGM-Statement/91408708
"Current trading
Recent contract wins demonstrate our continuing success in securing contracts with large customers building the Group's recurring revenue base. With these, the Group now has 28 customers and an ARR of over $7m.
In addition to these, we continue to see strong demand from our existing customers for change requests and have contracted for around $1.7m already this year in respect of this revenue.
Outlook for the year
Our pipeline remains strong at around $23m, including some $5m of non-telco prospects - its highest ever level and which we are confident will produce results in the coming months and years."
Any longterm holders know that this is a huge RNS, combined with the full year results beating market expectations and FY23 looking positive there are several reasons to invest regardless of the spread.
Looking forward to returning to previous highs.
The actual spread is 7% and even that is high.
It's showing 20% here now but it is 20% and I expect that to drop back down to 10% and actual spread around 4%
This news is massive for a SP that has been battered. It was about 30% of their MC before today
To buy on this good news of a new 600k pa contract means you lose 16% instantaneously and have to hope that the rise caused by the RNS exceeds 16%. Which is not likely
Topped up. Seems to have got really cheap now - as you say the poor results led to a rise. The outlook paragraph is very positive, especially the ARR at c $7m, up from $4.3 last year. These new contracts must have been good, and that's a good base to build on. Also good to see a bit of diversification arising away from the telcos. A lot depends on the next trading update.
"Outlook
· Substantial order book with a number of new contracts won since the year end, including a good level of repeat activity from change requests, and a large number of significant contracts in advanced stages of negotiation, including banks
• New customer wins for the year expected to be in double figures
• Excellent visibility over revenues for the current year, currently around $8m
• ARR now c.$7m
• New business pipeline# of c. $23m, including some $5m of non telco business"
I can see you have posted same thing in other forums today.
If you had realised how negatively the market has viewed PTRO in the last 12 months you would know that the expectations were pretty diabolical, the RNS is pretty grim reading but not diabolical.
The direction of share price movement is largely based on expectations. Pelatro's results were bad but not as bad as was already priced into the share price, so the share price increases (for now, at least). Presumably QinetiQ's good results were not as good as the market expected, so the shares fell, again at least for now. Obviously in the long term, the share price of a company that produces good results is likely to make better progress than one that does not.
Pretty poor results and the share price is up 20%. Qinetic results are good and the share price falls. You need to take any view on outlook in an RNS with a large pinch of salt - especially in the Aim market.