Member Info for Adastra

I see that the Diageo account is up for grabs as they've just released Edelman - come on Steffan - go for it like a Welsh forward. We have the muscle and we have the scale now.

Now we're getting volume and acceleration upwards. Momentum is finally catching on to the prospects here. It is now a definite buy rather than no opinion.

Lets hope we've seen sub 7p for the last and final time! The interim prospects were excellent, the 50d MA has just soared through the Bollinger bands north - time to follow the first English space-station astronaut. Up up and away as we enter a cash-generative 2016. Giving the MD 1.5m options at 10p is a heck of a performance incentive and win-win for all shareholders.

The shareprice is failing to reflect recent business win in October from multi-billion dollar Glencore and the fact that PPS has been working tirelessly to change negative fracking opinion by lobbying for Cuadrilla etc. Today's sea-change government decision on fracking surely plays into PPS/Newgate strengths. The only way from here should be vertically up, but MMs and Ruffer are calling the tune on small volumes. Roll on t/u and 2016.

Has to be a sharetip for 2016 from one of the financial journalists imo. Potential gets better every day with accrediation of LA base recently.

Newly appointed MD, first for Porta Group and recently specifically for Newgate bodes well. Two months into the job,having spent time on the October won Glencore brief, happy to accept options at almost 50% premium to current shareprice. That speaks volumes to me verifying the potential that I have been posting about. As DW is on record as saying, this will lead us into a new level of growth at Porta - 2016 is most definitely 'our' year when the market wakes up to this step-change to positive cash-generation.

Very happy with that. David Wright, yet again, keeps his promise of not diluting out those shareholders who have supported him from the inception of Porta. He has never issued shares below par value 10p - that's pretty unique for an AIM stock and testament to the integrity of the CEO.. Incentivisation like this is essential to continue the level of growth we are achieving. A really strong trading update in the New Year will cement 2016 as the year Porta comes of age. Porta is looking like a nicely balanced share offering strong organic growth I but not dependent on any one sector.

I can understand your frustration - the share price has oscillated between 6.25 and 10.5p as the company has grown by acquisition and organic growth. A lot of private investors have 'switched' in an attempt to chase elusive 5 and 10 baggers, but don't be fooled, the ones that gloat usually have a very poor track record. If you invested here, I'm assuming that you've done your research. Don't be tempted to sell into the current weakness imo. The total MCap is only £20m at present - click on the 'director deals' above and look at the stream of confidence going back several years. David Wright expected overall cash-generation in 2014 but the gems of Redleaf, Publicasity and PPS were too good an opportunity to miss. They are now bedded in and performing well - watch the Proactive videos and read the interim outlook. We are in the final month of the second half of this year and the outlook is still strong. I anticipate a really strong trading update co-presented by David and Steffan. Steffan has just taken on the role of MD for Newgate [as well as his role as group MD of the Porta group] showing his increasing involvement in negotiating bigger contracts like the Glencore brief immediately following his appointment. Don't lose heart - watch this space - lots to come IMO with an aggressive marketing policy starting 2016 via Broker Profile. Hand on heart, I expect Ruffer to reverse or stop their previous drip-feed of sales as they look at cash-generation in H2. Early to put figures on it but I suspect all will become clear early in the New Year. Tip for 2016???

The dicussion here certainly reflects the aspirations and pitfalls of Falanx and it's good to see measured, researched comment. The cyber arm is exclusively taking limelight at present since it is using cash and thin on contract negotiations. Yes, I do hold a position here as I don't think the market is reflecting what is going on behind the scenes. The fully manned and operational centre now has the ISO and HMG accreditations to pursue contracts as indicated in the last RNS. Lag time and confidentiality are clouding any indication of progress so we can only guess that cash burn, excluding big contracts, is funded till March/April. JB is quietly eloquent, but has the balls to push the cyber side which he saw as an essential evolution to resilience and intelligence. To dismiss his resolve is to underestimate how quickly sentiment could turn here. The shareprice has been whacked to scrap value and yes, it could fall further, but the drivers are clearly in the background - announcements of contracts in any of three arms, announcement of succession chairman, stake build by eg Cohort or Quinetiq. Resilience and Intelligence have historically had sound revenue and seem to be being dismissed entirely in discussion. I believe the possibility of a sharestake build or indeed complete takeover to be more probable than a new fundraise and to that end it would need to be at 14p plus. Falanx, the company, is very easy to assimilate into a bigger operation with immediate earnings enhancement IMO.

Not so much admirable optimism as sum-of-the-parts salvage value which is all that Falanx is currently being marked at. The set-up is a perfect jigsaw fit for an operation such as CHRT as all 3 FLX ops drop nicely into it. I would certainly be exploring the possibility of having this kind of kudos and financial muscle in the boardroom and on the register. Both parties would gain immediate benefit; Falanx immediately and Cohort from an instant and increasing holding in the cyber security arena in which it currently has little presence. Perfect fit, and it just must be being looked at - if not, why not? Logical as both are British based and British architecture - especially the domain sensitive cyber.

That we see massive fluctuations on small volumes - 5 lots of 10k go on the market and are picked up in a 50k package. The share price skews down again, typical of the market. Consolation is that any poisitive from either cyber, intelligence or resilience will kick up with the same volatility. A £6m price tag at this inflexion point is clearly dismissing any other scenario than a fund raise. This is quite frequently the time when surprise plays its hand and the dissenters May have to rethink. The joker in the pack is that Falanx is not a one trick pony in an increasingly security conscious environment.

Given the right-time-right-place scenario there is no doubt that Falanx cyber technology is in demand. The lag time between need, assessment and contract signing must be reducing so it is just the cash flow that is hindering progress to self sustenance. A substantial contract in Resilience or Intelligence would immediately reverse sentiment, but I really think it would be a wise time to invite Cohort (who must be watching progress here) to take a 10% shareholding. This would be accompanied by the announcement of a very suitably qualified chairman to replace Karl Barclay - possibly from Assuria or Cohort. These would immediately give a firm foundation to the MCap and visible earnings horizon. The price would then hit a more representative progression up instead of down and JB would retain independence with a strong shareholder on the register where security is paramount. Just a thought.

Looks like we may be witnessing the long awaited 'tide of sentiment' finally shifting in Porta's favour....... So much good news for over two years, directors buying in at every opportunity, fee margins way above our peers and we still failed to convince the sceptics. At last, I think the investment community are looking at the constituents of the Porta group, their resilience and good recurring fee income, and their organic growth. Time to get buyers accepting that David Wright's baby has come of age and is now growing apace with Steffan at the helm and David plotting the course. 2016 should be a sparkling year for Porta imo.

UK companies have been awarded ISO14001 and OHSAS18001. Excellent progress.

Slick website with Vimeo video excerpts certainly puts the message across. http://www.gamaaviation.com/ Should get at least 12p eps in current H2 making a yearly figure of 30p and growing strongly. Great growth opportunity in aircraft management without the exposure of either aircraft ownership or the vulnerability of brokerage.

Bear in mind also that if the y/e turnover is just £32m then there has been no growth in H2 as earnings are flat since H1 was £16m. From the interims: "EKF relies heavily on tender wins for revenue generation, the timing of which can be very uncertain and outside of our control. In 2014, tender wins represented over 20% of our full year revenues, which was broadly split 40%/60% across H1 and H2 respectively. During H1 2015, tender wins only accounted for around £0.5m, mainly due to the delay of certain tenders into H2." - So it looks as if that hasn't happened either otherwise forecast annual revenue would be higher.

I just think its a bucket of frogs till things are sorted. The walk away of Jinjing AND the other third party means that they both did the due diligence exercise that EKF had failed to do and concluded that it wasn't even worth negotiating terms for the PoC business alone or EKF as a whole. The present strategic revue has lots of write-down and write-off in the offing and this will certainly erode existing value. Is the rump worth £30m+??? The write-down of monies owed seems to infer that Mexico is a liability rather than a 'major area of growth'. High risk at present till the extent of the big write-down is quantified imo.

That the BoD have made some awefully bad decisions! The purchase of Selah was an absolute disaster as it suffered massive cuts in US government reimbursements almost immediately after it was bought. The due diligence must have been cursory to say the least and cost shareholders a packet. Until the management can form a coherent policy that does not just bleed away money then EKF is going nowhere. They relied on reimbursement from the Mexican government, supplying loads of product on credit and that looks to be a write-off. The mind boggles. Where was the credit control and debt management???

"I believe the second six months, in operational terms, will be significantly better than the first as we will be able to evidence new tender wins and demonstrate further progress with our key strategic development projects in sTNFR, PrecisionPath, PointMan and PKU." Mexico remains a key market for us and we are confident that if we can resolve the payment issues then we will secure substantially more business significantly beyond our 2014 revenues The net debt position is expected to improve in the second half of the year following tender wins and the continuing payments being made by our Mexican debtors Hmmm....think David Evans misread the market in his August 2015 trading update. These guys really need to take a grip after the disastrous purchase of Selah. There is a good business in the mix but its no wonder that the two potential suitors walked until this botched business is sorted. Once everything becomes clearer, it will be worthy of investment, but it needs a lot of work and as such risk/reward is high at this stage - hence the drop. Little more than a pure gamble at present with so little cash and 'debt writedown' in the offing imo.

From interims:- Commenting on outlook, David Evans, Executive Chairman of EKF, said: "The Company expects to see the benefits of revenues from tender orders in H2, including those which were delayed from H1. H1 revenues were £16.78m and todays statement gives annual forecast of £32m so it looks like the tender orders either did not materialise or they have been delayed again which will affect cashflow. Caveat emptor till it becomes clearer methinks.