Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Forget the 'fun and games' that are being played to drag the price down. The real news is the orders that will be flooding in now following in the U S Senates approval last Saturday to finally approve l.2 trillion $'s worth of funds delayed from last September. Any poor punters unaware of what is going on in the background and selling will surely come to regret it. Their shares will soon be gobbled up by Pentland and the other majors who will swoop like hungry gannets.
Has anyone any idea of the monthly cash burn here as I notice the last placing was in October last year
"Finally, my attention has been drawn to Thruvision (THRU on AIM). It has developed and now installed machinery which assesses whether employees of (say) Amazon are seeking to steal their employer’s goods. The shares stand at about 20p and are fully supported by cash. THRU is a very low-capitalised company.
However, it seems that the US border force will adopt this kit and, if so, regardless of who wins the US presidential election, THRU could harvest a bonanza. There does not seem to be much downside and the upside could be sensational"
Not made a profit in the last 5 years (Source Stockopedia) Illiquid. Most institutions holding probably under water. Product seems to be in the right place - Thefts - stabbings etc but a cash burner. Where now? Low ball takeover? Institutions locked in (imo) given the size of their holdings.
I would say current price is a good opportunity to buy shares. Hopefully the US Border Patrol gets funding soon to buy the order that was expected in September along with the growing retail distribution business.
Is the time to load up whilst the price is artificially being kept low to enable the II's and company friends to do just that.
Been watching thru for sometime now, but yet to buy in primarily as other opportunities elsewhere.
What did surprise was the real lack of backlog and the lack of visibility this provides. Would have thought thru would run with at least 3-6 months if not 6-12?
So completely and totally irrelevant.
It's on the Companies House site. It's the Limited company and not the main Group Company with public share holders (us).
Will be interesting to see if he is going to be replaced, and if so who with?
I do not see this announcement anywhere. Can you include a link to this announcement?
From thruvision ltd
Resigns.............
Article on their retail efforts:
https://www.proactiveinvestors.co.uk/companies/news/1032163/thruvision-seeks-to-dominate-retail-distribution-market-1032163.html?viewSource=TwitterUK
No money, no profit, no returns for shareholders. Time to award ourselves more options.
Financial year 2022/23 ends September 30th.
Will be interesting to see new orders placed for year 2023/24 from October 1st.
Persimmon.
As a qualified accountant, believe me this isn't even remotely "creative". What is does show is the ability to sign strong contracts with customers, in most instances a customer will provide an estimated timetable and if things slip the supplier is left holding stock.
The accounting treatment follows the contractual terms. I can't see where it say actual payment is on install ?
Agree with you on chartered accountants, most are pretty useless.
I think we'll have to agree to disagree on this one.
£0.3M is not significant, those are your words, I never said it was. What is significant is the 'creative accounting' that is undoubtedly going behind the scenes which amongst other requirements help building up tax credits for as long as possible. These ploys are mostly legal and played out with a nod and a wink to the Accountancy firms whose bills they pay. The bubble will burst, most long term holders know that. We just all have to be patient. The major investors who own over 80% of the company are.
I know what invoicing is, I just don't know why £0.3m is "significant".
THRU recognise hardware sales as being 1 of 2 types: Ex-works or Bill & Hold.
The IAR says this rgarding Hardware Sales:
"Revenue from the sale of Thruvision units and accessories is recognised when or as the Group transfers control of the asset to the customer.
For Ex-works (Incoterms 2020) sales this is at the point the goods are made available to the customer for collection.
Bill-and-hold arrangements occur when the Group invoices a customer for equipment that is transferred at a point in time, but retains physical possession of the equipment until it is transferred to the customer in the future. This might occur to accommodate delays in a customer’s readiness for installation, or a customer’s lack of available space for the product."
The IAR says that Bill & Hold revenue recognised at year-end for FY23 amounted to £0.3m. That doesn't make up a large proportion of THRU's revenue, so why do you think it is significant?
BodRuncie........With the greatest respect If you have, or are currently running a business, I seriously don't believe you would ask that question. When invoices are due, paid etc can vary enormously between the UK and the US. Vat and tax differences also. It seems that forward ordering of equipment's before the year end and paid for play a great part in the finances. Also note that a large US client does not pay until the goods are placed in use. What is known as 'creative accounting' is probably the best description I can give of the last annual account posted at Companies House in July. Good sleuthing!
Why is that significant? 2023 B & H amounted to £0.3m, and customers have already been invoiced.
A most salient point in the Independent Auditors Report relating to annual revenue can be found on Page 38 of the Annual Report lodged at Companies House (not abridged versions found elsewhere)
The significance of it should not be under-estimated in my view.
Titled BILL & HOLD
Most if not all are buys (other than those flagged as SINT)