PYX Resources: Achieving volume and diversification milestones. Watch the video here.
If you read all that (and there is more as I know this stock like the back of my hand) and still believe it is a good investment I can only laugh.
This stock went to 3.3p last year before disappointing results. Guess what is going to happen?
Just £10k traded today. Not worth a bean and no sign of anything the rampers are saying. The price is only up due to the spread increasing.
If you're a sucker invest. You will be in good company.
Forget the ramping. You may be reading this because someone you don't know tipped it on twitter/x. Some of you have jumped in. At least you can satisfy yourself that you're as clueless as the long term holders, who, despite the despertae ramping are all massively down.
Here are some facts for you.
1) The company have consistently under performed since 2017 with losses recorded every year since
2) The company have only managed to stay afloat by selling off company assets and diluting the stock
3) They won a contract during Covid but never delivered any approved product. The only role they did have was packaging for others.
4) They didn't realise, because they didnt issue a RNS, that the contracts stage 2 was never actioned
5) What the directors did do is sell a large part of their holdings when the stock was at the top.
6) They failed to provide correct paperwork for the test they had developed but did manage to spend all the money the taxpayer gave them on vanity projects and bonuses.
7) After a shareholder revolt they had a fire sale of their "Crown Jewels" which kept the show on the road.
8) On first glance they have a healthy balance sheet but the cash burn, although reduced is still significant.
9) Due to an abortive attempt to moving to larger premises they are now stuck in premises they have to vacate in 2025 and were described as not fit for purpose. This limits product output
10) They finally got ISO accredited for manufactoering and hired a new director to try and get production as efficient as possible within the limitations outlined above.
11) The CFO (who is a specialist in M&A) walked out and joined a competitor. (Ask yourself - if a business was being bought or offered why would the M&A specialist walk?) This CFO has not been replaced.
12) A long standing issue with the board is a lack of accountability and governance. See 11 for details.
13) The board have said the accounts due will show yet another loss.
14) The good sales growth reported in the first 6 months was an illusion following research. They had £2.5m in backlog sales (see 9 and 10) which when we track across the last 5 years means that £1.5 m could be attributed to production issues in the previous accounting period. In simple terms means the figures looked good due to previous failures but are not going to be maintained (because the backlog is clear).
15) The government are seeking £2.5m back which I feel is unlikely. However, talk of substantial counter claims are for the birds. The board are basically asking the tax payer for money due to their mismanagement and profligency
16) The CEO has admitted that the UK is now saturated. Only so many people want testing. The UK is the number one market for them.
17) New tests competing in the growth area of the sector have been delayed and will be bought in through a partnership.
18) The app they launched was developed by a now defunct business. One of the devs seems to have moved to them bu
Some have zero self awareness on here. It’s hilarious seeing some of the quotes from the green striped losers.
Assume that gem came from the horse gambling, conspiracy theorist “carer”?
The very definition of dunning Kruger effect
Captain
I don't think many realise just how tight it got for ODX. Access to debt is a key indicator to a companies health. Having an overdraft facility showed that NatWest believed it was a high risk. This lack of cash flow, despite getting so much money from the tax payer, shows just how bad things were. It also explains the lack of R&D and other core activity. It appears to be surviving by the skin of its teeth.
The cash injection came just in time.
It won't the next time. This company has nowhere to hide. They need a run of good luck - a settlement for the tax payer money, traction in the US (no RNS since the original), the new test to pass through all testing and get approvals, sorting a new site (lease is only until next year and we've been here before).
No assets to sell off. Dilution is looking a slim possibility. It is down to sales. Not just revenue because that is vanity. Profitable sales.
It's a fascinating watch. I am looking forward to the end of year projected financials. The UK is saturated (as Jaz admitted) so it will be interesting to see US, China and EMEA sales and if the cash burn has been halted or slowed further (some progress made in the first 6 months). I know what my gut feeling is but time will tell.
Bognor
You seem confused. I realise this is a default state so let me create a easy to read list
1) Market size. The market size for baked beans in the UK is huge. 100 metric tonnes per annum. This is great for baked bean sellers but not so great for those that are selling kidney beans. CNSL are in a huge market but they dont have the products in the growth sector. That is why they are trying to play catch up and bring in a gut test. It is why they are partnering for this instead of developing their own test. This will mean a lower margin and they will be playing catch up. Another analogy - when Apple launched the iPod the market exploded. BUT many in the growing MP3 market just didn't have the resources and left it too late to party. Anyone remember Audio Highway ? No. Thought not. Can you see the commercial problems? Spouting "huge market" is a stupid as saying the company is being bought out because a few thousand shares have changed hands.
2) The sell price dropped to 1.6p. The buy was different because it suffers from a liquidity problem. No one doubled their money. If they say they did they are lying. The FACT is that this stock has bubbled around the 2-3.6p price range for over a year now. It has gone no where and has no sign it will.
3) Valuation. This is a tricky one. Is Tesla worth its market cap? Not a chance. Sentiment has driven it. But back in the low reaches of penny shares the story is different. It can be a traders playground where zombie companies are traded actively and the gullible culled. But if you want to look at true value then you look at EBITDA. You look at risk and market potential. The last company I sold went for a premium but the valuation was still wedded to reality. Forget the money in the bank. No one buys a business for that as it is often taken out or is seen as part of general operations. It doesn't add much materially compared to those other elements. CNSL has many negatives that will count against its value. Sort sales, burn rate and settle with the tax payer and it has the potential to jump. But this is a company that has constantly over promised and under delivered. The market cap is fair imo for the risk. In the meantime never forget what can happen if this goes above 4p. From an investors perspective they would be prudent to wait and see.
Captain - forgot about Dam ! haha. Remember the spamming about the contract being the second coming? haha. No one listened even when I highlighted the limitations and the likely outcome (which was correct). Reminded me of the nonsense with NNN when they did the deal with the AC filter company. Just nuts and showed a basic misunderstanding of maths.
Top of the morning to you captain.
You’re correct - despite getting some visibility on chats for mugs not many have been sucked in.
Low energy again.
I wonder how many know the trading statement showing an annual loss (assuming the board are correct) is soon here.
Didn’t the same thing happen last year?
Comical.
A small number of buys thanks to a twitch of interest from someone pretending to give insider stock tips. If you're one then a warm welcome to the crab pot.
Like many other inverbrates that are easy to trap you are now holding a stock in a loss making business you know zero about. Well done you. Some of you may even be holders and "averaged down" based on zero evidence of anything changing.
I wonder if Erskine was able to get out? Based on the number of green stripes that looks unlikely - even the paranoid conspiracy "carer" isn't that prolific.
Anyhoo, just a tip to any newbie - do some reading, dont take the word of someone promising riches on twitter/X. Start with asking what can happen if the price ever goes back up above 4p? Look at the price history over the last 18 months.
After reading all the RNS objectively (I suggest you start in 2017 when this was ODX for a full picture and don't prove yourself a fool by only reading the bullet points at the top) you may reach the same conclusion I have. Thankfully none of you have put in serious money so cutting your losses won't be as painful as say some idiot trapped with hundreds of thousands of "golden tickets".
IF they get settlement with the tax payer that may help in the short term. BUT the board have said in writing that this FY will be loss making. Many of the things they said would happen haven't or we haven't been given any updates. This is one where you buy on concrete evidence, not a hunch.
(shorting it if you can really be bothered is not a bad shout).
Bonne chance and don't buy a Tesla just yet.
As usual the idiots haven't listened by the looks of your and trade-in responses.
1) Low liquidity = means price will bounce around on even low levels of activity
2) Volumes over last 2 trading sessions haven't been anything extraordinary and certainly do not indicate anything happening
3) Some chancer who pretends to be a prophet backed the stock and we are seeing a flurry of small buys as a result
4) The shrewd see what this is and are now selling off
5) The volume combined with the bid price indicate that this is a stock in trouble. Despite the pump it's only back to the levels of the last low energy pump. I am sure the idiots will be thinking this is the second coming but they are i) still under ii) will be.
6) No one should forget what the shareholders voted for and what will happen the moment if/when this goes passed 4p.
7) No RNS. No news. All just fairy dust.
Losers will continue to lose.
Reiterate - this will be going back to 2.25p.
Right, that's enough work for the day, off to the beach.
And the green stripe weirdo instantly posts. Which one? The alleged criminal drunk scot or the "carer" who has more delusions than a fortune teller at a rural village hall event?
Who cares. Both are total losers. Neither will ever be able to sell the stock they have at a profit. So I guess karma does exist.
LOL.
Bognor
I smell something bad. Likely coming from your bedsit/grief hole. Certainly coming from your post. In EVERY. SINGLE. ONE of these posts from another place they have been wrong. Comically wrong. Lee Anderson has more credibility.
Level 2 is dire. Fact.
About a month to go before the board announce a loss making year and little progress with anything else. When will you idiots learn?
You would be better off following the conspiracy theorists horse racing tips (when it wasn't a green strip I tracked these for fun and guess what? You would be down if you betted on its tips. Big time. It's worse at horse betting (because gambling is ultimately for mugs) than stock picks. Hilarious.
Captain
I don’t really trade anymore. I have a few stocks that I believe will do well. I now look at stocks mainly for fun. However, one I am in:
MCG is undervalued. It will return to the 85-90p range soon. Will at least double in time. Was national express and the issue is many just think buses in the UK. They have been hoovering up contracts, got debt under control and made badly needed changes.
It isn’t perfect but it is one stock that, as it isn’t sexy, is overlooked and hasn’t recovered from covid yet despite good fundamentals. Directors also bought in.
With fuel costs stable and many competitors no longer around this will do well imo. It is also prime for a takeover. It reminds me of Menzies - that 4 times bagged for me !
Just as a guide - this was 445p before the pandemic !
Good to see you Captain. See a green stripe almost instantly appeared. No prizes for which of the two losers that is.
Must be so frustrating to be schooled everyday on why she has lost her life savings. Oh dear. How Sad. Never Mind.
More posts than trades. That is excluding any that were deleted.
This board is a farce. For the hard of thinking, here are the facts of the matter:
1) No received commission announced for the "Crown Jewels" that were sold in a fire sale. (see my previous research to understand why substantive amounts are unlikely - it is obvious to anyone that can read a P&L)
2) No evidence of takeover and flatly denied by board (because who the hell would want to buy it?)
3) No settlement with the hard working taxpayer for the #2.5m squandered
4) No dramatic news for US market otherwise we would have an RNS - this means they have less presence than in 2018
5) No CFO appointed - Near 6mths without a CFO? Non exec helping out fill the gap but rather poor for a listed company and speaks volumes about one of CNSLs problems - lack of governance and accountability.
6) No App development news and questions over its compliance that haven't been answered
7) No bought in gut microbiome test currently in market (not on website anyway and no RNS despite this being targeted for launch last year)
8) Ex CFO moved to a well funded, well organised company in the GMB space - an example of how a big potential market is already being dominated by better companies
9) No relocation and the finite resources that were deemed not suitable previously is providing sufficient capacity (what does that mean idiots?)
10) Another loss making year predicted by the board
11) Nothing much left in the cupboard to sell off and cannot dilute the shares - something that has been keeping this company going for 7 years.
Nothing to see here. Wait for the green stripe losers to arrive and attack me rather than address the facts.
Why respond to them Captain?
Refuses to do any research. Prefer conspiracy. Never listens. Binary approach to everything. Ignores the stuff that may help.
Remember all the abuse when I did some basic math on the royalty payments? It just wasn't worth it. They don't like reality. They always go for hope. It never works. It's just funny when they get disappointed and even funnier when they latch onto something else. It is why their lives are like they are.
Whatever you've done to trigger them it's worked. Still banging on about the contract they still havent read? Goodness me. 16 green stripes since I posted just before 1pm. Wow. Not deranged at all.
Captain
You are correct - it was a direct question in the Q&A and it was flatly denied.
It is also worth just highlighting another facet of the claimed activity. As my research demonstrated shortly after the half year results were published the majority of the "growth" claimed was an illusion due to the significant back log. The true test will be in the full year update expected next month. In the RNS the company stated they expect to see a lower second half meaning that the "growth" was not sustained. If it was why haven't we had more RNS about further lab equipment sold into the US? They set the benchmark by announcing the sales and due to the business model it has the potential to have a material impact on the business. The silence is therefore indicative that they haven't made progress.
Stocking up on a big bag of "I told you so".
NOTE: 2 Green stripes on this thread. My guess is not one point is disputed - just more attacks. They have nothing of worth to contribute.
Totally false information based on hope rather than reality. No one is buying in any volume. In fact the volume is dire.
You also have no indication that the company is busy operationally. They still haven't got around to appointing a CFO and the only major announcement was a operations director to try and keep the manufacturing side in check (and compliant with the ISO standards brought in by the consultants). You will understand that this is vital because they never got round to moving facilities so have finite capacity.
This is the reason I keep my eye on this board. Ignoring the fantasists and paranoid losers is one thing - fighting those that are delibrately ramping based on nothing but conjecture is another.
Until news comes on the dispute with hard working taxpayers or the trading update following year end then this is unlikely to be doing anything. Based on current interest rates your money is better off in a bank when considering the share movement over the last 12 months.