Adrian Hargrave, CEO of SEEEN, explains how the Company is now funded through to profitability. Watch the video here.
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Testing 2.5
If that breaks, 1.8-2.2 on the books, if we don't see any buys soon that will be a whole week of nothing but sellers as far as I can see.
Even the "bull" doesn't appear to be willing to buy......speaks volumes.
No, it's the SGI share price.
Was hoping for a few RNS's on things, but it looks like we are not due another one until mid next year. SGI management need to interact with investors a bit more than this, especially if the share price is at all important to any of them
"The 2.5p backstop is holding but might be breached if the loan headroom is used up or the company has to ask its backers for further funding. "
I have to concur, there's a very good chance that any earnings will be used up in servicing debt. Which stands at c20m. Basically any problems and they'll need more cash. It's a debt vehicle for Phoenix. I think debt and leverage of the historical reputation is their game play. It's over all so tiny for Phoenix that share price appreciation won't register. Better they leverage and take income from the debt pile and use it to enhance their other vehicles that carry less reputational baggage..
Break in that 2.5 should see us move down to 1.8-2.2p
Question is, will it be worth a punt down there? Maybe.
Going to be many fewer visitors over the next couple of weeks. With Christmas upon us, if there's not a substantial up tick in the sale of "fractions", they could struggle in the first quarter.
Carp, it’s a bit disingenuous to say the share price will fall if the loan headroom is used up. You know as well as I do that Phoenix have provided one of the softest ever banking facilities here, they are highly likely to provide extra banking facilities, as required, without any effect on the shares.
The only thing now needed is a bit of time, once SG get that, they will be trading back in the black again. Phoenix will ensure they get the time.
The share price will catch up in due course.
The 2.5p backstop is holding but might be breached if the loan headroom is used up or the company has to ask its backers for further funding. The CEO statement that SGI might be cash positive in 6 months time is good news for those desperate to hold onto such straws, but the company has a poor record with these kind of announcements and it will be interesting to see whether more selling discounted stock will occur to reach this target.
So now we know what that late transaction was:
Vol. Sold 367,584
Vol. Bought 0
I find myself wondering - if a ball is in the back of the net, do the SGI team know they need to put it at the back of the other teams goal not their own net?
How much longer can this hold on to 2.7 with nothing but sales coming through?
If most things for SGI are "not yet back to pre-pandemic conditions." at least on thing is...the weak downward trend of it's equity. Before, during and after the pandemic. 2024 here we come!
Tumbleweed.
Pretax loss widens to GBP1.5 million from GBP1.3 million and not yet back to pre-pandemic conditions.
Sales of the fractions appear to have stalled...bottom draw and hope there's more medical intervention.
ICU: it's an overwhelming place for investors of SGI to continually inhabit. Morgue or years in resuscitation? On the face of, the patient is only just hanging on.
Jam tomorrow? Probably only the kind that Insulate Britain induces. The share price could be jammed up for year.
Check again 22/23.
I see a rather nice 250,000 share purchase went through just before the close. Could bode well for tomorrow
"In view of all of the above, the Directors believe there is a material uncertainty relating to the Group's position as a going concern"
Usual disappointing results, illustrated by the reduction in the share price on release. More promised jam in the future.
Back in the bottom draw for another 12 months.....
""In view of all of the above, the Directors believe there is a material uncertainty relating to the Group's position as a going concern"
If Phoenix sneeze, SGI will catch potentially fatal pneumonia....Much promised, little delivered. Marked down by the market again.
CEO's comment: "For the first time in many years, we aim to become a sustainably cash positive business within the next six months."
How much longer will this share be at these low levels?
Am interested to see that auctions are now going to take a far larger proportion of things, this is good news, as is the renewed Baldwins. It looks to me like SG is beginning to push in all directions now, and I expect trading volumes to start improving nicely.
Time for a Director's share purchase …..
Carp, that really is old news you are rehashing. It remains irrelevant whilst Phoenix continue their support.
Given the changed position of the company summed by the CEO's comments: "For the first time in many years, we aim to become a sustainably cash positive business within the next six months" I think it will be reasonable to now expect a re-rating of the shares.
"In view of all of the above, the Directors believe there is a material
uncertainty relating to the Group's position as a going concern"
Still a big risk here though....if things go badly it is curtains. Still a risky punt in my view.
We aim to move to cash positive over the next half year
Major turnaround coming through
Where are the results? I'm beginning to wonder why such a delay?
Perhaps some big sort of deal is being done behind the scenes, and needs to be finalised before the RNS can be issued? Does anyone know what's going on?
My fingers were all thumbs when I made an incorrect post on Tuesday regarding advertisers in the daily press offering nicely packaged sets of pre-decimal stamps, coins and covers of little intrinsic value, but intended to be attractive as collectors' items or souvenirs of royal and historic occasions. It is noticable that the sellers never make any reference to investment value or prospects, obviously to keep within the financial advertising rules, and surely SG will have to be very careful if they start to push the investment side ?
As I said before, Chief, they are pushing the investment side because they are not getting traction from collectors. Of course all investors will tie up their money for an indefinite period and unlikely to get their money back let alone a profit. No doubt bad press will result in 6 months time if/when a second hand market for fractions is made, although I think this is actually unlikely to happen myself.
But still no interims....and 29,700 fractions still to sell.....
It’s a scary prospect if they call it an investment since we all know the stamp will need to increase in value 50% for investors to break even, and that’s excluding the 2.5% fee they lose when selling… and those figures will never happen
Fingers crossed for something VERY positive for once.
Carp, as explained in recent RNS's and on the Showpiece site, there is no liability or cost to SG arising from the fractional sales of the 1c. It is entirely ringfenced, SG merely gains financially when the fractions are sold.
Certainly wish they'd get on with issuing the interims but presume covid etc has led to inevitable delays. Let's hope there is a positive forward looking statement accompanying the interims.
As in any financial advertising, surely SG will have to be very careful in advertising any "investment potential" ? There are large adverts from time to time in daily newspapers offering attractively packaged Penny Blacks, pre-decimal GB sets, coins and covers. Probably of little value in themselves, but nice collectors' items for anyone who likes them. However, the sellers seem very careful not to keep within the rules, and not mention any investment value or potential.
Full page adverts appearing in the investment magazines now, extolling the virtues of owning part of the British Guiana 1c. Not a cheap exercise but not sure whether SG is on the hook for those expenses. However they clearly want to use the investment route not the collector route and we know what happened last time investors got shafted!
No Interims yet. Very poor.
Pearls, 2 things, firstly you mention “ the shop floor is open and seeing a lot of footfall”
I’ve been past and in a couple times since the exhibition opened and it’s been absolutely dead, I’ve been the only one in store… secondly on that matter, have you been in recently? They’ve completely changed the layout and it’s not a great stamp store anymore, they removed the huge counter at the back of store where they had hundreds of albums you could go through, and they’ve removed all the boxes of pages or packets of stamps you could flick through, it’s not a great store anymore unless you are purchasing multi thousand pound stamps of which the clientele are few and far between.
Further to another point you mention “ but I don't think anyone expected the fractions to sell out before the exchange was created” if this is the known case then as soon as the exchange comes out the price of the fractions is going to plummet, people won’t be able to resell their share for more than they paid (because there will be 10s of thousands still available at £100) so everyone will make a loss, then you have the 2.5% fee on top of that - it’s not a great look, especially when you look at the price the stamp has to resell for for everyone to profit, and all the possible loopholes there are to buy the stamp for half its current price…
It really is about time that shareholders had a good update.
Let us hope.