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Dear All,
I have finally got a response from Harry Berry (non-exec Chairman) and he says results/trading statement will be out in a few weeks and audit is in progress. I told him the total silence since Jan is unacceptable from investor relations perspective and that it destroys management credibility and asked that they at least put out a notice of results asap to provide some degree of reassurance. I believe these results will be pretty awful and they will take the chance to throw everything in these results to clear the decks for a better 2023.They should be keeping a tight grip on costs right now to preserve cash so that they dont need to raise any money. Ive also contacted the CFO and CEO but i dont expect them to answer. Will share any more responses I get. Fundamentally there is nice business here but they need to keep costs down (reduce R&D spend if necessary and that means reducing headcount) chase down trade receivable's and nail on some more contracts to put the business on a a stronger financial foundation. If they can do that they should be able tor trade their way out of this position and get back on track.
Well it would be good if something would happen here, been bumping along at this level for too long now...
It was a few 'unknown trade' transactions, all on a quiet morning of Tuesday 18/04. Nearly 200K and 10% value of market cap (at that morning's sp). I don't believe it's an algorithm (probably not at this market cap), but something is definitely occurring.
It was a few 'unknown trade' transactions, all on a quiet morning of Tuesday 18/04. Nearly 200K and 10% value of market cap (at that morning's sp). I don't believe it's an algorithm (probably not at this market cap), but something is definitely occurring.
Maybe the BOD have decided to take advantage of the low price because they know something? Or is this an algorithm forcing a rise by a few pence to make a quick profit?
A total of 3,824,770 shares traded at 5p on Tuesday 18/04/2023, for £191,238.5
An unknown trade from yesterday (18/03) is included with today's (19/03) trades:
18-Apr-23 10:01:13 5.00 1,387,385 Unknown* 69.37k
Any opinions on today's uncrossed trades?
Recent Share Trades for Pelatro Plc (PTRO)
Date Time Trade Prc Volume Buy/Sell Value
18-Apr-23 15:24:30 5.425 20,000 Buy* 1,085 O
18-Apr-23 15:23:08 5.33 50,000 Buy* 2,665 O
18-Apr-23 13:49:29 5.335 100,000 Buy* 5,335 O
18-Apr-23 10:10:03 4.77 763 Sell* 36.40 O
18-Apr-23 09:17:44 5.00 525,000 Unknown* 26.25k O
18-Apr-23 09:17:52 5.00 1,912,385 Unknown* 95.62k O
18-Apr-23 09:25:42 4.55 15 Sell* 0.68 O
18-Apr-23 08:50:03 4.915 54,054 Sell* 2,657 O
18-Apr-23 08:31:50 4.915 9,345 Sell* 459.31 O
Results this month.
I thought there was an earnings announcement today, but I can't find it. I hope that it will start to drag itself upwards during the year. Poor that the CEO doesn't respond...
Various issues have dragged this down including adverse currency movements. The road to profitability has extended but is this business only worth £2million? I suspect it will either go bust or the sp will recover by the year end. Once again CEO failed to respond to my email for clarification. Pathetic
I was in the unlucky position of buying back in here an hour before the trading statement, it left me with a share that would likely fall further but wasn't really worth bailing just in case, my exit strategy although of risk is to wait for the next update which I imagine will be equally poor and marked down by mms, but in which I'm envisaging a low where I can average down as I feel there will be value at that point. My reasoning is also based on the fact that directors are yet to put their hand in their pocket to show positivity
I am in a similar position, except I have continue to hold these. There is a long list of dogs that ST has tipped: PTRO, KMK, TSL (target 140p shares, acquired at circa 29p), BVC, SLE, LOOP, MTR. These are a select few from an ever increasing list.
Another one of IC ‘s Simon Thompson's genius tips. He forecast these were wort a pound, possibly of crap. Anyone keeping a record of this guys tips. I know KMK is another one of his hundred ways of loosing money besides opening a restaurant. TF I bailed . Actually ma de money out of KMK more by luck than judgement which nearly covered my losses here. There are mitigating circumstances but incompetence is not mitigating.
I hope the trades today are because someone has confidence in this stock, rather than an algorithm looking to make a quick buck by shifting the price upwards....
Agreed, not sure why directors would not be buying more if the issues lie as far as the RNS.
I only have a small investment in this, but I can't believe how it has dropped like a rock. You would wonder why the directors aren't piling in on this and shoring up the price at the moment? Or perhaps they know something we don't?
More nasty surprises around the corner? If everything is OK they should issue a statement to that effect. This stinks and it feels like some investors are salvaging as much as they can.
Surely not. It is ridiculous how it has got to this level. Down another 10% today, £2k sold off.
Need the FY results ASAP.
No reply to my latest email. Are things really as bad as the sp suggests?
I agree rivaldo but they're not unique in moving the goalposts along the way. Recurring revenue deals get amended and the cash balances evaporate. Directors should be buying just to demonstrate confidence. My email to SM got an extremely non expansive response. Confidence in short supply and i'm in no hurry to buy more.
Well, this has been a disaster. I understand the general economic climate isn't exactly supportive, but other telco software-type companies seem to be doing OK. PTRO are still pretty small, so any contract delays/problems tend to be big problems as regards the year end numbers given the relatively small client base. And PTRO seem particularly prone to banana skins.
Having invested here largely on the basis of the CEO's highly successful track record I'm extremely disappointed at the number of mis-steps.
Nevertheless, two of the three issues in the latest update are in essence just pushing out of numbers from 2022 into 2023 and beyond, and the $0.3m provision is the first of its type and not hugely material.
With a £2.95m m/cap now, and per Dowgate Capital $1m net cash rising to $1.5m this year, plus $7.5m revised forecast revenues this year which are largely recurring, for an optimist it's possible to see good upside from here, even if sentiment will likely remain extremely negative for some time to come!
With the results not out (presumably) until May I'd have thought the directors should be free to buy in the market now that the trading update is out? It would be helpful if they were to show some commitment in this respect.....
Directors hold a big chunk of the equity so sitting on a big loss. Their disproportionate fees/bonuses relative to the m/cap need to be trimmed. Small shareholders are severely disadvantaged. I suspect profitability put back to 2025 at the earliest-hence sp collapse. In SMs shoes I'd be looking at taking this company private in 2023-cheap to do at the moment.
sorry yes $780k you get the gist tho.
not sure I like the look of these round number sells either, institution selling down too ? wouldn't surprise me
It's $780k.
I am in the same position as silverknight, not sure how much longer I can keep averaging down.