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Local news last night highlighted micro-plastics in the water supply and how washing clothing contributes to the problem. It was fairly superficial in its approach but referenced work undertaken at Hull University. Viewers were left with advice on how to wash and dry their clothes to help reduce the micro-plastic/fibre problem. No mention of washing machine filtration systems being used to ease the problem. Opportunity for Xeros Tech to suggest a follow up article showcasing their technology and the work undertaken by Dr. Imogen Napper at Plymouth University. It's an opportunity on your Yorkshire doorstep Xeros - exploit it!!
I suspect there trying to tee up a fundraise to coincide with the finals that’s why there delayed.. The price? well there not scared of a heavy discount are they, but what institutional investors would take this on the only thing that’s consistent is there inability to deliver…
the £8m raise, we were told to accelerate deals, where are these deals they were accelerating?
Not sure why the SP would drop on the finals, their revenue is negligble anyway so I don't expect any surprises. The price is what it is due the uncertainty about future funding and the change in top management
Its not right that there is no accountability, they should be made to explain where all the money has gone.
Its criminal that previously they were able to take it from 3.30 to 1p and rip off all the shareholders then after the 1p raise consolidate back up to 3 quid and now looks like it’s heading back to a penny.. all while the Directors are creaming over 600k a year, who was approving all these bonuses and what were they based on?
At the moment the price is just manipulated, if you look at today for example you have lots of selling and then occasionally someone will buy less than 10 to try to raise the price a little because of how illiquid it is. (worth noting that if someone's going to buy 7 shares then their broker fees are more likely to cost more). I suspect on final earnings it's going to dump like a lead brick.
It would be a blessing if they did. Time for the management to come clean and stop trying to flog this dead horse. If Xeros was a horse it would have been taken to the glue factory years ago and turned into something more useful.
You can always hedge, just find another stock that's been battered recently but with more reliable fundamentals. There are even blue chips like Netflix that are 72% down but a safer bet. Not financial advice (or even advising on Netflix), just saying when battered with stock you can hedge by replacing part of your stack with another battered stock.
Lucky you, I’m down that much on this it’s not even worth selling..
I wished I’d read up properly on this before I invested in haste due to the micro plastic legislation, I seriously think the FCA should be looking at this, to me it just seems like a rort.
Yeh, not to sure many people want to hang around for the end of year finals. I'm out, but may come back if the situation changes in the next 12 months
Have they turned the lights off and given up at Xeros
Thanks MrCynic, I have sold but like a lot of shares I once held but no longer do I like to check in to see if I made the right decision. In this case I think I have but a little bit late. I hope this share does well for other investors however I would do some serious research first before parting with your money.
As I have always promised i will correct any error of fact.
I have been assured that Mark's wife did not take part in the strategy meeting in southern california, nor in Las vegas nor other such events at Chelsea FC.
I therefore unreservedly apologize, my only excuse is that i did not realise that the lady concerned was not in fact his wife.
No one is more disappointed than I am. but facts are facts, they have admitted they need to raise more money. No lenders will be in sight. Investor committees will be looking at a business which has no business, key patents expired , no management team, no IP.... need I go on?
"development partners" who will see this as well and don't need to pay for anything as it soon will be all free anyway..as XSG have no money to honor their development obligations.
If the key shareholders want to continue (big if) it will be at a huge discount. My prediction is less than 5p
The delay in results announcements is probably the "going concern" issue.. that should be fun..
I’m starting to fear you might be right.
Maybe the delay in the results date is ominous but either way I have bailed today. Such a shame as I had high hopes for this company. Dare I say it but MR Cynic is correct in that this is not going anywhere.
Anyone worried that they haven’t announced the results date yet?
I am not an investor but I knew long ago that this was not going to fly, look at the facts.
The interim results released on Wed 27th Sept 2017 (RSN No 8965R) stated ….Total commercial washing machine installations and letters of agreement with a high probability of becoming binding contracts totalled 460 at 30 June 2017, (30 June 2016: 304)…..
These machines were given on a “ puppy dog sale” arrangement to prospective clients. But as we all know puppies are not just for Christmas and they were all sent to the pound. Maybe the CEO and CFO and knew exactly what was going on. Hence the selloff of the US business after putting in around over £20m on a product that didn’t work. They wrote off all the US equipment at a loss of £7.8m according to year end results ‘18.
All the tier 1 European/American OEM’s have looked and walked away.
8 years since floating and not close to any success in sight.
If it quacks, looks and walks like a duck it’s never going to be a phoenix. Gluck.
you are obviously following me.. however can you point to any fact i have got wrong?
immediate apology and retraction if you can find any factual error.. opinions are fine and a bit of fun. But you want to get back under your blanket and keep sucking your thumb because you can't take an alternative view of facts.. whereas I can..chelsea season tickets, las vegas "due diligence" trips southern california "strategy" days all with his wife... i must try some of this "networking".. after all as a shareholder I am paying for these truffle hunters. FTSE 100 packages for a business that has never generated any cash, let alone ebitda. CEO on the exit route, cfo soon to follow, no money, no prospects, sell while you can - you have been warned..
Mrcynic, its quite normal for companies to have executive boxes at Premier League clubs to entertain clients, it's what they call "Networking". You're obviously either two things a) a disgruntled ex employee trying you hardest to discredit the company who goes around taking photos of his old bosses b) a not very good de-ramper hoping to get shares on the cheap.
Unfortunately I got distracted yesterday and forgot to apply the filter to you again.
do you have any arguments to rebut the facts in the "made up waffle"??... get back under your blanket..and while you are there ask who pays for Mark's Chelsea season ticket and the lavish entertainment that goes with it. challenge me and i'll send you the photos.
ps i'd stop drinking this stuff if I were you ..just more well meant advice..
Made up waffle and filtered again.
If you go through their annual statements they have raised at least £70m if not over the course of history £100m. Look at how they move the goal posts.. high performance workwear.. leather.. commercial laundry.. domestic laundry.... clothing.. jeans.. whatever.. nothing ever comes of it. They have no IP anyway as the patents on bead cleaning have expired and there is none in the filtery thing. If anyone thinks I'm making this up, please read the annual statements available from their own website from the time when Mark took over. Also, ask what ever happened to the lease income on the commercial laundry estate in the USA? hmmm. they have to come back for more money.. otherwise they are broke. massive discount to the current share price is on its way..
How could they have so many machines installed but not commissioned? It’s a blooming washing machine not the HMS Queen Elizabeth. Surely if they had to make an adjustment for that number of machines it should have been pulled out and explained I the report?
I don’t Really understand the numbers in these reports if I’m honest, but I don’t think I’m alone looking at the losses I don’t think the CFO does either..
Hi, if you look at the annual reports over the years you will see the rise and fall of "high performance workware" (they bought marken based in las vegas in 2017.. coyly referred to as "nevada") the rise and fall of leather, and the rise and fall of commercial laundry. The quickest and easiest reference re overstated commercial machine numbers is to follow the claims made over the years and then in the accounts for 31/12/17 the CFO reports on pp13 that the number of machines installed but not yet commissioned is minus 104. Thinking logically how can the number of machines installed in the year but not yet commissioned be a negative number?? it's obviously a correction to previous overstatements..