Member Info for ART123

All I would say about the return of the Aussie Twit(ter) is don't get spiked. DL just bought his 12.4% at 0.67p and the ask price is right now 3.0p - a more than a 4 times rise. Just remember Evocutis which spiked when D Lenigas joined as chairman from about 0.20p to about 1.2p or maybe even 2p by the next day before spending the next 2-3 years dropping like a stone before it was delisted off to ISDX at 0.05p.

Below the radar here. I was going to ask whether it was still worth getting in here after the recent rises but then see there haven't been any posts since 29th July...................probably rise much further when PI's start to buy too................

I did predict this despite others saying otherwise. Still another �100,000 to convert before Darwin are happy to "chat" about the final �100K. The bad news is that this is going to make a big mess of all the figures in the Admissions Document. Interesting to see what they do about it. Still watching rather than holding here. ATB.

No-one around. May get noticed later. " This full commercial rollout relates to the major contract win announced on 19 May 2014." From May 2014: " Major contract win in Latin America Mirada plc, the AIM-quoted audio-visual interaction specialist (AIM: MIRA), is delighted to announce that it has secured a major contract for its multiscreen product, iris, with a large established Latin American digital TV operator. This contract follows the successful USD $1.4 million trial previously announced on 7 November 2013. The contract is expected to generate significant revenues..................which the Directors believe should far exceed Mirada's yearly turnover over the next three to five years."

"Jose Luis Vazquez, CEO of Mirada plc, commented: "Today's full commercial rollout is a defining moment in the history of Mirada. This is our largest commercial rollout by a significant margin and one of the largest in our industry in Latin America. As well as leading to an expected significant amount of subscriber-based licence fee revenues going forward, the commercial launch of our solution provides an excellent reference case for Mirada. This clearly demonstrates our ability to successfully manage and deliver a substantial nationwide solution encompassing several million subscribers. It also provides awareness of the market leading quality and advanced capabilities of our solution. We are confident that other operators will be monitoring the success of this rollout and that ultimately this will open up more major contract opportunities in the future."

Increase of the Company's equity by €18.4 million to €(23.4) million.

Kimberly Enterprises N.V. ("Kimberly" or the "Company") Further update re Marina Dorcol Further to the announcement released on 6 June 2016 and the subsequent share price movement, the Board of Kimberly wishes to provide the following additional information. For illustrative purposes only, in the event that termination had taken place in the first quarter of 2016, the Company estimates that the impact on the Company's balance sheet as at 31 March 2016 would have been as follows: 1. Decrease of the non-current assets by €25.6 million to €3.4 million. 2. Decrease of the current liabilities by €36.2 million to €33.2 million. 3. Decrease of the non-current liabilities by €7.8 million to €0.3 million. 4. Increase of the Company's equity by €18.4 million to €(23.4) million. In the event that termination of the lease is completed, the actual impact on the Company's financial statements will be reflected in the next relevant set of financial results. The net cash flow and the timing to conclude the settlement with the Municipality of Belgrade cannot be predicted at this stage with any certainty. The Company has pledged the shares of Marina Dorcol D.o.o (the entity which holds the lease agreement with the Municipality of Belgrade) to Engel Resources and Development Ltd ("ERD"). The outstanding debts of the Company to ERD stood at €25 million as at 31 March 2016. If the termination of the lease is concluded, the Company will continue to have a substantial net asset deficit.

What was the reason for the suspension and the delay in bringing out the results?

"I am pleased to report that for the 18 months to 31 January 2016 the Group achieved an operating profit before exceptional items of £970,000 compared to £626,000 for the year to 31 July 2015" Looks like profit is the same to me - £970K is for 18 months (£626K was for 12 months)

"The Company has conducted an initial review of the working capital requirements to fund these orders and believes that its existing invoice discounting facilities will be sufficient."

If they were going to do that they wouldn't bother to tell the market. Anyway if they did it that way they would end up pushing up the shareprice themselves.

In terms of a company paying a dividend then fcf is important. For valuing a company that the CEO has said he may make an offer to buy the whole issued share capital then revenue and particularly profits and no debt are more important. No-one invests in or buys AIM shares for the dividends. They are a feature of the FTSE 100/250.

but surely any argument about cash or receivables is just going to hand the company over for nothing. Profit is around £2M/£3M and that give a company valuation of a lot higher than just over £5M (at .20p). No debt. No losses. An expanding business. I would assume that any surplus cash is being ploughed back into expanding the business. SYQ have not needed to raise any cash in the last 2 years so they are "getting by". Yes the figures could be a lot higher if they were paid all they are owed but the value still lies in what they are paid and the profits they make.

Anyway offers usually come in at about 50% higher than the current shareprice so that would make an offer about 30p - that is unless the depressing PI's want to take the SP down even lower so they can get an even lower offer.

Personally I think this has been played very fairly against the backdrop of the receivables worry and the low market cap. The CEO could have rushed in with a low-ball offer of 25p or 30p. Instead he has expressed an interest in taking this back to private ownership and the market has the chance to revalue the shareprice so an offer will reflect the true value of SYQ. While receivables are a worry, SYQ ARE declaring received revenue and profits, They have no debt. Business is expanding on several fronts and profits are going to be substantially higher than market expectations.

spread the word.............. Management valued the company at 62p - £14.4M (even 53p now with the extra shares) on flotation just 2 years ago. Revenue/profits have increased over 100% since then. The same management are here now and the CEO wants to buy the company back. Maybe he's just a bit sick of the persistently low AIM market cap..

The Independent Directors won't sell the company for less than a fair offer.

The revenue they are declaring has obviously been received and they are in profit. They have not raised any cash for the last 2 years so they are self-sustaining. The valuation I am giving is for the declared revenue/turnover and not for what it might be, Yes revenue and profit could be much higher but then so would the valuation.

Creeping up. Still under the radar. At least this isn't a GBO if the CEO is looking to buy it back from the shareholders.

How much is SYQ worth? SYQ is trading in profit so an easy way to value is in multiples of the net profit (x P/E) Last full year profit was £1.91M and a good value is 10 x net profit which gives just over 70p per share. It looks like this year's net profit could be nearer £3M which gives a value of over £1 per share - £1.15p to be precise. At 22p the value is 2 x P/E which is an AIM valuation but no good for a takeover scenario.