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attacks GOS should be booming, is it though? Surely they should have a higher turnover than 1m quid..... The companies lack of communication, accounts, updates, new shares etc etc remains as much of a mystery as it was in its gold mining days when most of the board out of the blue just got up and resigned after drawing their lovely jubly salaries for a couple of years of just sitting on their asses and bugger all! This lot too just score, fail, fail fail... I just hope and pray that one day I will get something back on this pos....
The end of my last post here, which was cut off: Smiling he adds: �It�s more like mining diamonds than extracting oil.� " http://www.telegraph.co.uk/finance/newsbysector/industry/engineering/10521667/Judges-Scientific-the-precision-instrument-maker-that-came-about-by-chance.html JDG started out in 2003 as a �2M. AIM shell, similar to TGL in 2014. And the directors of JDG had a lot of their own money invested into JDG, as do Ilyas Khan & co. into TGL, making them at once very incentivised and very careful. In addition, TGL's first acquisition, GOS Systems, certainly embodies some desirable acquisition traits: a niche business, exporting, that owns the intellectual property, as well as providing essential services with recurring revenues.
Former shell JDG, a 25-bagger, is a good lesson in what can be some desirable RTO traits: i.e. a niche business, exporting, that owns the intellectual property: "Judges Scientific: the precision instrument maker that came about by chance David Cicurel explains how he built a �100m scientific instrument group after stumbling across a sector boasting 2,000 UK companies By Alistair Osborne, Business Editor 6:00AM GMT 17 Dec 2013 � He began examining different types of deals and, among the dozens that came his way, he found one particularly �puzzling. It had �3m turnover and �750,000 operating profit, with 19 staff. It looked too good to be true.� It was FTT. He met the owners, �an engineer and a scientist, who were both looking to retire. They explained they had a dominating position in a tiny world niche and that the drivers of the business were regulation and globalisation. �I thought that�s a really good business to have if you have little money, you can still be powerful,� he says. �It�s better to be in a little principality and you�re the prince than competing with big empires when you don�t have the wherewithal to do that.� Cicurel, who owns 15.6pc of Judges, wondered if FTT was a �unique thing�. So he did his �homework and found there are 2,000 companies in that sector, just in the UK�. Not only that. They export almost four-fifths of what they make. FTT became the first of 10 acquisitions in the sector, together costing just over �30m. ... Judges� strategy, he says simply, is �to find good companies, very nichy, and pay down the debt. We probably see about 50 deals a year and engage seriously with three to five. They are not family businesses. I think people start them at 40 and sell them at 60. We�re normally buying because the people are getting old and want to retire.� He always looks for certain things: a manufacturer that �owns the intellectual property�, that sells instruments scientists buy and that has good profit margins and strong exports. �If you are not exporting a lot, you are not meaningful in a world niche,� he says. Judges� main rivals are far bigger companies - Spectris, valued at �2.7bn, Halma (�2.1bn) and Oxford Instruments (�925m). But Cicurel ensures he has enough cash on the balance sheet to move fast on a deal, topping up the funds in October via an �8.1m placing, following the Scientifica deal. He points out too that his big three rivals have also �done very well. I shouldn�t say this but in our sector it�s not terribly difficult to do well � though it is easy to do badly. There�s a lot of rubbish out there, you have to be really selective.� Smiling he adds: �It�s more like mining diamonds than
Olderandwiser, We're clearly still awaiting ours shares in 'NewCo' (i.e. Intelicrypt Tactical Solutions Ltd.), and this latest news could be a step in that process. At least something is happening!
Marvellous news in my SIPP: "Delisting Description Delisting Effective date: 22nd July 2016 Market affected: London Stock Exchange Please be informed that Touchstone Gold Limited has announced its intention to cancel its listing of Depositary Interests from trading on the London Stock Exchange. This is expected to become effective on 22nd July 2016. Depositary Interest holders will be entered as shareholders on the company’s Canadian share register following the delisting. ISA and SIPP customers may receive additional updates regarding the status of this stock due to the ineligibility of holding delisted stock within these products." What now?
TGL director Charles Goodfellow delivered a fine result to TGL in November 2014, with their bargain acquisition of the quality tech security company GOS Systems from the administrators. He's also a director of main-listed shell Acorn Minerals (ACO), which at 9.15p (market cap. £1.3M.) is trading at just over cash. ACO's final results today said: "Whilst we have not concluded a transaction during the year we are very hopeful of doing so in the near future." Well worth a look, but be aware that it would be suspended for a RTO.
It's just over a year since the troll Muckshifter posted this on the main ADVFN TGL thread: muckshifter 8 Jul'15 - 09:59 - 6212 " ... I do think both companies will be desperately in need of further cash infusions within the next six months, never mind a year ... " Over a year after that prediction, TGL has had no need to raise more funds, and is currently expanding.
Mr TGL, With all due respect, you're not exactly a good judge. Here are some extracts from some of your posts: 9 Dec '15 " I settled my works accident for £200k out of court just 3 yrs ago and it's gone all because of AIM." 23 Dec '15 "At least I did have some good news today....... Chonca the share that multi bagged that was always repeatedly referred to crashed back down to earth.... Back all the way down to .50. So if you do have anything left, the door is open again in CHA" 6 Jan '16 "I could of lumped all this TGL cash into Chonca after that crashed back to levels worth investing at after a failed merge or whatever it was. It's already trebled from the price it fell back to and it's all because of TGL ..." 23 Dec '15 "The guy at the end of the phone will no longer be available to chat." Mr TGL, did you see Chesycustard's very informative 15th. June report on his phone call with TGL that day? It was absurd to think that the company would no longer be available to chat just because it delisted. And it was similarly absurd to think that CHA's 'dead cat bounce' from 0.5p to 1.5p (after rapidly collapsing more than 90%) was anything other than that. It soon fell back, and closed at 0.5p in April and May. (Currently 0.575p.)
Thanks for the Link, interesting and encouraging. We have to hope the CQC product is a winner, if it is this could be what we all hoped for. Will feel happy when we get our new shares and hopefully a positive update to give us somthing to hang on while the business grows to being ready for the market.
Darktrace raised an additional $65 million..............interview with Mike Lynch. "At the moment it’s growing at 600% [a year] " http://uk.businessinsider.com/billionaire-mike-lynch-explains-why-hes-putting-his-money-into-darktrace-2016-7?r=US&IR=T
To see if anything has changed. Nope...... HH still holding high hopes for this pitiful excuse of a company. Still no relist in sight and I'm amazed peeps still think this is a decent company. I presume we still haven't had the 2014 accounts? I guess I can only hope we do relist so I can get my sorry A$$ out of this company and never look back.
That linked job is a product development role taking from initial design to production using our chosen manufacturer. So maybe this new product being rolled out needs bespoke hardware? The new MD may have been chosen due to a shift in product focus Selling hardware seems a good direction to me, certainly if it increases the sales of the software side of the business.
How about a Special Relationship with the long-suffering PIs here? Where are the Share Certs, for example?
Weak Sterling post the Brexit vote, and Britain's 'special relationship' with the US, especially in security matters: these are two big things that could help GOS's sales push into the US. "ALEX BRUMMER: Rolls-Royce lifts Brexit despair as falling pound could add £40m to aero-engine manufacturer’s profits" By ALEX BRUMMER FOR THE DAILY MAIL PUBLISHED: 22:48, 28 June 2016 | UPDATED: 22:48, 28 June 2016 http://www.thisismoney.co.uk/money/comment/article-3664658/ALEX-BRUMMER-Rolls-Royce-lifts-Brexit-despair-falling-pound-add-40m-aero-engine-manufacturer-s-profits.html "Windfall profit Exporters and international businesses early winners from Brexit" 07 July 2016 http://www.sharesmagazine.co.uk/article/windfall-profits "Marco Rubio urges American senate to secure 'special relationship' with Britain Ruth Sherlock, WASHINGTON 7 JULY 2016 • 8:29PM Marco Rubio, a former Republican presidential candidate, yesterday urged the US to secure the “special relationship” with Britain in a formal appeal to Congress. The draft resolution, shown to The Daily Telegraph, calls on President Barack Obama to show greater resolve in furthering America’s trade and defence ties with Britain in a post-Brexit era. …" http://www.telegraph.co.uk/news/2016/07/07/marco-rubio-urges-american-senate-to-secure-special-relationship/
Job ad: http://tinyurl.com/zrdq74k Connects more to David Houghton's background in electronics manufacturing than to software development. (Not a criticism, just an observation). Who is David Houghton? Why he's the Managing Director at GOS Systems, but you probably didn't know that, because the company tells the shareholders / owners of the company nothing.
Well we are now in July> still no share certificates, were due between the 25/4-25/5 (not that they would be worth anything) and no updates from Touchstones 25th Feb -Shareholders discussion docs. An appalling disregard for investors and does not bode well>
Good to hear Certificates will be issued soon. Also the plan from what i understand is to build Intelicrypt - and not purely focus on GOS, but to have companies that they can add value and sales through GOS but also build out on their own so to have more companies in the fold. As he reminded custard, they are all shareholders too. :)
SD, This is an extract from your last post, on 25th. May, concerning Jamie Ridealgh: "So he would have left around Oct/Nov 2015 then? The writing must surely have been on the wall by then that we were going to lose out listing, I mean us small shareholders also thought that it would be plain sailing and that the team at TGL and Stanhill were professional enough to know what they were doing, shocking. If there was something worth staying on at TGL/GOS for I am sure that he would not have left after only 9 months." It's a pity SD that you can't acknowledge the fact that he left amicably for family reasons. In my opinion you're contributing nothing useful to this board. You're supposed to be a shareholder here, but you only seem to be interested in posting negatively about it. What is the point of constantly attacking and undermining your own company?
Thanks for that very informative feedback Chesy. It's nice to have confirmation that Jamie Ridealgh left for perfectly benign reasons (contrary to what SD said earlier), and that the corporate restructuring is proceeding with only a slight delay. It's also positive to learn what we have a stake in CQCL as high as about 3%. Regarding the turnover figure: presumably it's the 2015 estimate; although we haven't seen TGL's 2014 results yet, that will include under two months of GOS Systems. The £1M. turnover figure is consistent with the expectations from the AGM in February, as reported then by singray105 on ADVFN. He said then that they were hoping to increase recurring income from about £400K. to say £600K., which might be enough to cover running costs, wages etc. And that the new product should generate at least ten sales this year at £100K. each and 80% margins. The important thing to remember is that the quality of the turnover is here very high: i.e. lots of recurring revenue, and at great margins. On a low cost base (which is helped by being unlisted), even say £1.5M. of turnover could generate £hundreds of K. of profits. And at a generous tech rating, that could certainly justify a valuation well above the s.p. at suspension (i.e. 0.525p). There' s no real reason to rush back to market, and plenty of reason not to, especially as the technology security sector is currently less highly rated than a year ago ... although in time that should change again.
Yes very slow progress, £1m turnover is nothing, How on earth was this company valued at close to £30m when the IPO failed a couple of years back, did they have higher turnover back then? If so then we have gone backwards in the last year or two.
On a possitive note they are still there answering questions so,given time this could blossom.
Thanks Cheesy, although a bit disappointing we are still only generating circa £1m does not look like they are gaining much traction. Was your feeling overall of disappointment or did you get a better feel from the overall conversation. Thanks again for the update, I was just,logging on to ask for the contact,number as I felt it was time to call myself. I don't mind not being listed ATM but would like to see progress, seems little made over a year.....
Via phone call this morning 1 When are we due to get issued our shares in Intelicrypt solutions, it was expected to take 3 months from the February meeting? Slight delay, expected within weeks 2. According to Linked-in Jamie Ridealgh no longer works for the company, is this the case? And if so what is the background to this? Left for family commitments, amicable 3. What is the view regarding our investment into CQCL and the news re Aranco recently. Obviously bearing in mind they agreed to fund it $50 million over the next 2-3 years. No sure on effect and whether funds will still be received, CQCL is continuing as normal 4. When is it expected that shareholders will get to see the accounts for GOS systems and related businesses? Shareholder circular is expected as an update, no timeline as yet. I asked if in 2016 and he said he would think so. 5. Has GOS now been released from the Canadian regulation/reporting requirements it had? Once the restructure is complete it will be 6. Has the following taken place and do we now have shares in CQCL “The convertible preferred shares are convertible into new ordinary shares of CQCL at a price per share that will be 20% below the price per ordinary share paid by CQCL's expected institutional and other investors in a financing that is currently anticipated to occur in 2015” Yes we are now a minority shareholder – circa 3% 7. Can we have an update on our encryption key products due this year please “Touchstone investee GOS Systems has been granted exclusive reseller distribution rights over CQCL's forthcoming Quantum Key Encryption ("QKE") products which will be targeted at governments and corporations that have high security requirements. The sales right covers European sales of the products and the products are expected to be available for sale from 2016 onwards. Development continues, update expected in 2016 I additionally asked about a relisting and he said that it was the ultimate aim, however GOS was enjoying reduced costs at the moment. With an income of a million and listing costs at least half of that the company requires more critical mass. He confirmed that the focus was to build GOS’s sales book and income. He reminded me that they were shareholders as well. GLA
YS, Interestingly, former Stanhill shell TEN has very recently become a shell again: 11/05/2016 07:00 UKREG Tengri Resources Disposal Update "...The completion of the disposal represents a fundamental change of business under AIM Rule 15 and as such, the Company is now an "AIM Rule 15 cash shell" for the purpose of the AIM Rules and has until 01 December 2016 to make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules or otherwise seek readmission as an "investing company" with the attendant requirement to raise at least GBP6.0m on or immediately before such readmission." http://uk.advfn.com/stock-market/london/tengri-TEN/share-news/Tengri-Resources-Completion-of-Disposal/71612636
Together and published, I hope that's the reason. Lots to do - shareholders can wait - attitiude, all we need is some honest answers from The Directors. Share Certs must be coming soon. 90 days are up.