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Topped up again last lot 23,000.
Hopefully get a decent trading update soon.
Still think this is way to cheap.
Cheers.
even for a very strange company. I am surprised it hasn't been blown off course but there has only been one trade. Given the uncertainty I don't think this one will be flying anytime soon.
Nice to see the latest 30k buy at 10.02p, above the 10p published offer price.
The m/cap has finally moved above the $6.15m cash pile!
Moving up very nicely - up 1p today on just £1k of shares bought! Can't be much stock around.
Market cap still low
The contribution from this contract win will likely be pretty immaterial for the current year.
The main impact is for the year about to start - $1.8m is a pretty sizeable single contract win considering total annual revenues have been between $4.3m and $6.9m recently.
And SIM had $6.15m cash at 30th June - compared to the current £4.6m m/cap.
securing substantial revenues for next year and 2021:
Https://www.investegate.co.uk/simigon-limited--sim-/rns/simigon-awarded--1-8m-contract-for-c-130-vmt/201912020932393073V/
"SimiGon awarded $1.8 million contract for C-130 virtual maintenance training
SimiGon, Ltd. (LSE: SIM), a global leader in modelling, simulation & training solutions, is pleased to announce that it has received a $1.8 million contract from a large international defence electronics company ("Defense Company") to design, develop and implement a C-130 virtual maintenance training ("VMT") solution for the Israeli Air Force ("IAF") technician training academy (the "Contract").
The Contract for the C-130 training system is a new product complimenting SimiGon's current range of VMT solutions, including the F-16 training system which is already used by the IAF. This Contract, along with other ground based training systems using SimiGon technologies in the IAF, including T-6A Virtual Reality systems and the M-346 Advanced Jet Trainer, further solidifies SimiGon technologies as the IAF's primary training technology platform for aircrew academy members.
The delivery includes 'H' and 'J' variants maintenance training devices, virtual instructor ("VI") guided lessons for flight line operations and advanced avionics repair and testing. VI lessons reduce the burden and reliance on live instructors. The system also includes a native learning management system to distribute training content, track user performance, add classroom management capabilities, and enable improved reporting. The Simulation Based Training system will be provided on SimiGon's Virtual / Mixed / Augmented reality-capable environment.
The Contract's period of performance (excluding 12 months warranty and support) is approximately eighteen (18) months and the expected revenue contribution has already been factored into management's expectations for the year ending 31 December 2019 and also contributes to improved revenue visibility for FY 2020 and beyond.
This award is further evidence of SimiGon's growing impact on the aviation maintenance training market and strengthens the Company's market leading position.
Mr. Ami Vizer, SimiGon's Chief Executive Officer and Chairman, said: "This Contract is a great achievement for the Company and we are proud to continue to play a major role in the IAF's ongoing maintenance training program. We expect this Contract to lead to additional business opportunities with this large Defense Company, the IAF and the wider aviation maintenance training market."
I went in too deep with this after the announcement of the blanket purchase agreement earlier in the year. However, having a look at them again briefly now, I can't help being very positive (for anyone not too deep underwater).
They communicate very well with shareholders. Of course we always want more news - and of course it had better be good - but they do communicate new contracts etc, and their half year report was as good as most annuals, and last year they did a really informative trading update in February following the year end. You don't feel like you're in the dark. They're increasing R&D and marketing spends, which I like, and while I'm no accountant and things behind the scenes are probably more complex, I like the fact that the H1 0.28m revenue increase led to a 0.24m loss decrease: almost $ for $. Were last years 15% revenue increase to be repeated and the equivalent loss decrease happen for the whole year it would just about take them into operating profit [don't go by my figures, friends].
When it finally looks like it's turning I shall probably risk even more.
Nice 100,000 share buy at 7.75p.
Another contract win - on a new aircraft, and the "major European customer"s fourth aircraft platform which uses SIM:
Https://www.investegate.co.uk/simigon-limited--sim-/rns/contract-win/201910070700119026O/
Added another 20000, but that's it now.
Business seems in much better shape now.
Will wait 6 months & hope to see gains.
Cheers.
Nice summary from the respected Techmarketview:
Https://www.techmarketview.com/ukhotviews/archive/2019/09/30/simigon-learning-to-grow
"SimiGon learning to grow
LSE-listed but US / Israeli headquartered, 3D simulation training SaaS provider SimiGon, saw revenue for the first six months of the year increase by 12% to $2.7m (H1 18: $2.4 m). Operating losses declined by 32% to $0.44m (H1 18: $0.65m).
SimiGon was founded by former Israeli Air Force flight instructors and is best known as a provider of its simulation development platform - SIMbox - used by companies to create 3D simulation training applications principally for the defence and aviation markets. SimiGon's client base includes training and simulation systems providers, as well as over 20 air forces, and commercial airlines worldwide.
The defence training market remains core to SimiGon where is supports clients including the United States Air Force (USAF) Air Education and Training Command and Lockheed Martin's UK Military Flight Training System. During the first six months of the year it added an additional $850k of contracts with key European customers, signed an agreement with the U.S. Department of Defense Enterprise Software Initiative and added a $1.4m 12-month contract with the USAF to support Flight Training.
As we are seeing from our latest TechMarketView Innovation Partner Programme, learning technologies is a very vibrant place to be at the moment. Expanding beyond defence into civilian and commercial markets where Millennials and Generation Z users demand a more immersive learning experience could offer SimiGon huge potential.
SimiGon has a great client list that should lay a foundation for future growth and a return to profitability. The challenge now is making this happen. Post Period activity with half a dozen or so contracts with the USAF already announced look like a very positive start."
H1 results are out, and show a slow improvement in the numbers, but much increased optimism about the overall health of the business following the long transition to SaaS.
The £4.6m m/cap compares to $6.2m cash - plus a net $2.1m trade receivables less payables, of which a further $1.5m has been received since 30th June.
The outlook statement shows where they're heading:
"SimiGon's outlook is positive primarily due to its current technologies, R&D roadmap and the overwhelming need to provide millennials and Generation Z with VR, MR, AR capable, immersive training solutions. Government and Civilian requirements for proficient operators in multiple domains of zero risk tolerance such as aviation and energy, is a challenge the Company looks forward to capturing and realizing the growth foreseen by investors."
Let's hope this statement is realistic. If so there's significant upside here:
"Our true achievement is the foundation we have created for future growth and return to profitability."
5m MCAP?
Cash 6m
Encouraging interims.
Was expecting interims to be posted this morning.
Company have been consistent with previous reports.
Maybe tomorrow.
Another contract win with the US Air Force. this time for "Mixed Reality" training devices for USAF Air Combat Command - "a new, larger customer base, the ACC, the primary supplier of US air combat forces":
Https://www.investegate.co.uk/simigon-limited--sim-/rns/contract-win/201909090700085805L/
"SimiGon President & CEO, Ami Vizer, commented: "This win is very gratifying as it demonstrates that the USAF and that the ACC in particular, understand our advanced technologies and combat training solutions. This is an exciting time for the Company as VR and MR solutions become a greater part of our portfolio. Our R&D team continues to make great strides to delivery true, next-level MR solutions. We look forward to our partnership with the F-15E community and the ACC."
PS: had to smile at the prior post by "comeonvog". SIM have a $6m cash pile, compared to a £4.8m m/cap - which is what makes the current share price so ridiculous.
What is going on here , i smell placing then progress. IMO
PS I can't help thinking it's also a great advert, especially for business in the US, but also elsewhere. To be supplying both the US DoD and USAF must put them straight on the shortlist of anyone looking to purchase in this space. It's a certificate of competence.
NB RNS 18th April where a similar 'bpa' was awarded by the US Department of Defence. I was expecting that the DoD would cover the individual forces, it appears that it does not, but this reinforces that SIM is getting it's feet well under the table as a supplier with the US military: and there may be room for further bpa's with both the navy and army. With 2 of the 4 so far it's looking very good.
Hamodeh82 No it,s not
The BPA, has a contract ceiling of $6 million over a two-year period. This allows the U.S. Government to rapidly order Virtual Reality (VR) and Mixed Reality (MR) solutions. SimiGon was one of four contractors awarded.
Good business done again with USAF.
Would like to see them expanding their technology more into the civilian markets.
Generating revenues next set of results.
Cheers.
Contract more than mcap . Expecting this to hit 15p today
More good news this morning re SIM's approval as one of four suppliers of Virtual Reality solutions for the US Air Force.
The comment that "We look forward to many additional VR and MR systems deliveries" is certainly encouraging:
Https://www.investegate.co.uk/simigon-limited--sim-/rns/simigon-awarded-blanket-purchase-agreement-by-usaf/201908220700228485J/
Good to see the new US Air Force Virtual Reality contract win and the successful Israeli Air Force contract news recently whilst I was on hols.
The £4m m/cap is now less than the $6m net cash at the last year end. This is plainly bonkers in terms of valuation, but is more understandable in terms of market sentiment given the downturn in performance over recent years and perhaps some concern over the CEO's remuneration package.
Last year's H1 showed a $0.3m loss. We (and Finncap!) currently have no idea of what H1'19 has brought, other than more optimistic noises in the prelims outlook and an increase in the rate of contract win announcements.
If SIM can post improved results and a renewed sense of momentum from the new contracts, completion of the transition to SaaS, progress in VR/AR etc, then the current share price will be terrific value.
A rise with no volume???
Still way to cheap.