Member Info for Batterseafish

Probably dropping cos largest investment is Rhine Cruises?

Amazing results. Am surprised at market's muted response. Once the results are considered expect this to take off.

The dividend is surely gonna be cut given declining earnings and regulatory problems.

Yes, am holding. May add if shares look to bottom. Amazing potential here esp if large multinationals sign up.

I see the final paragraphs did not copy:
"True, Checkit is lossmaking and is expected to rack up cumulative cash losses of £6m in the three financial years to 31 January 2022, by which time annual revenue (excluding EET) should have ratcheted up from £11.6m to £20.5m, according to Mr Hill. But the point is that this is a business that should be able to maintain that underlying sales growth rate of 20 per cent a year and is highly operationally geared, so once it turns cash profitable (Equity Development has a £1.3m cash profit forecast in the 2022/23 financial year on revenue of £25m), it will become increasingly profitable thereafter.

The shares look underpriced to me so, although I would recommend tendering two-thirds of your holdings to bank a hefty profit on part of your holding, thus giving yourselves a free ride on the balance, I would certainly advise holding onto the rump. Tender shares."

He advised tendering shares at 65p. The following is about what remains. I think the shares' slide has been exacerbated by non-exec selling post the tender. However, the non exec concerned previously was exec of Elektron none of which remains. Perhaps await sing of share stabilising before buying although IMHO Checkit has amazing potential.
"Checkit will retain net cash of £14m to develop its business, a sum that will be augmented when its non-core Elektron Eye Technology (EET) business, a developer of portable analysers that are used to detect age-related macular degeneration, is sold off. That unit has just reported operating profit of £100,000 on revenue of £1.2m in the half year to 31 July 2019, so it could perhaps fetch £1.8m in the current market.

Based on 62m shares in issue post the tender offer, Checkit’s pro-forma market capitalisation of £21.7m (using a share price of 35p) will be two-thirds backed by cash (22p a share post tender). Also, Checkit acquired Fleet-based Next Control Systems (NCS), a leader in high-end service-based temperature monitoring for healthcare and life sciences within the UK, and data-related building energy management system services, for a net consideration of £8.8m (14p a share) in May 2019, representing 6.6 times its annual cash profit.

This means the value in NCS – which has now been renamed Checkit UK – and retained cash back the company's market capitalisation in full, implying shareholders are getting a free ride on Checkit’s proprietary work management ‘software as a service’ (Saas) business that has been designed to replace paper-based systems with a centralised, interactive cloud-based way of managing the multitude of tasks that staff have to carry out on a daily basis. Analyst Paul Hill at Equity Development estimates that more than £15m (24p a share post tender) has been invested in developing the system, thus creating “a wide competitive moat against UK rivals such as Crimson Tide (TIDE), Trailsuite and Kelsius”.

Admittedly, Checkit is lossmaking, but it is growing quickly and is targeting a near £6bn market for work management software, remote wireless sensing and remote building energy management in both the UK and the US. The client list already includes a roll call of blue chips including John Lewis, Center Parcs, BP, British Land and the NHS, highlighting how the company’s exciting suite of mobile apps, wireless sensors and data analytics can be deployed across multiple sectors including retail, healthcare, leisure and hotels both to monitor and enhance the operational performance of clients’ businesses.

Moreover, the directors are expanding their geographic reach. Chairman Keith Daley revealed during our results call this morning that the company “hopes to sign a multi-branch contract with a large European food retailing group shortly”. The focus is increasingly on the largest national and multinational customers. They are exploiting cross-selling opportunities with Checkit UK’s c

Penny stocks like this will not be impacted by the election

Undervalued. They dropped a few months ago on lower profits but their switch to higher margin business augers well as well as the recent re assurance they provided re forecast. Today's deal also looks good.

the share price may not have done much. But the company has released new products, licensed in new countries and produced increased revenues. So the shares should be worth more than they were a few years ago. It could easily double on release of good news. Timing of course is uncertain but patience should be rewarded at 7p.

Seems share price was previously over cooked. Now surely its good value at a low revenue to market cap. Also, director purchases at these levels encouraging following their sales at much higher prices. Not sure how the product compares with Teams. Can anyone help here?

I thought the results show progress. Increasing sales and new products. Break even seems nearer.
Second half should be better.

Results seemed good. But shares down. perhaps just lack of interest? Anyone else following this?

Yahoo finance negative as paying out more than cash earned. But surely this is only short term as earnings should rise.

Oh, I ended up paying 10.10! nevermind lol. This is an amazing company. It will take off one day, suddenly I predict. The shares have been asleep since they listed but the revenue keeps jumping and it has just recently become profitable. The management is working hard IMHO and shareholders will reap huge rewards if patient.

Well, if you look at projections on the web site the shares will be on a low PE and high Dy within 24 months.

"The Group has completed several deals, generated revenues and hit important milestones within its partnerships, with further payments expected to come in H1 2019/20."

The above is quoted in the Chairman's statement of the annual report.

Positive news that former Vectura Ceo is joining the board. More exciting prospects here perhaps. Hopefully shares will be back above 10p soon.........clear upward resistance there now so short term share weakness cannot therefore be ruled out IMHO.

Rns says sale of warehouse and they are leasing it back. doesnt sound like another purchase.

Is the other freehold property their offices?

Perhaps something similar?

Share attraction perhaps long term although it has disappointed for the last 10 yrs

Meant to post this with previous message: Why would this European Asset manager be taking a poistion od more than 1% at this stage of the bid timetiable? Went Ex div on Friday.

https://www.lse.co.uk/rns/SSY/oddo-bhf-am-form-83-scisys-group-plc-ddk9fmp51yuekbp.html

oh, thanks - I din't rea;ise they have already issued more shares at 10p...........so that should last them a while.