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Deathly silence from the company. It was all PR this and PR that around the time of the capital raise, they took our cash and have since been counting it and thinking of ways to invest it in products that get no traction whilst also paying themselves handsomely. I've been in this crock of p@@ since 2013, more fool me. No shareholder can be happy with this sorry state of affairs, surely there has to be an opportunity for a mutiny!

@TrekMadone, thanks for your posts.

Any interesting questions raised on the call? Analysts generally happy or any concerns?

Happy days :)

Well done all.

2022



2021 Fourth Quarter Dividend

· Announcement Date: 18 March 2022

· Ex-dividend Date: 31 March 2022

· Record Date: 1 April 2022

· Payment Date: 14 April 2022



2022 First Quarter Dividend

· Announcement Date: 13 May 2022

· Ex-dividend Date: 26 May 2022

· Record Date: 27 May 2022

· Payment Date: 10 June 2022

Nope. But this is doing very nicely through the crisis with two divi payments on the horizon. Good reasons to hold.

It is really frustrating as I don't think it is a bad business. It has good products and customers. However the failure to turn this into profit is back to your point on our CEO. Her tenure has been a complete disastee for shareholders.

I think at 50% of the float price this a good entry point. I am a customer and rate their tech as the better tech in the sector. I like the plus offering through Amazon, and their 12% stake means they have some stake in the game. As always a small initial investment in a falling knife scenario.

It is pretty much at an all time low, 0.6p or 30p equivalent around 10 years ago. We did indeed get some dividends.

Convertible bonds issued to existing shareholders or wider would be the route I would be looking at.

Biggest positive US and revenue growth (previous highest was £3m in 1H FY 19) so this is a success story - It has been a strong first half of the year in the HCM business, with the US market being particularly successful with revenue of £4,209,000 (H1 FY21: £2,605,000), a 62% increase. This has been driven by contracts with large US software providers.

Overall capital raise needed to push distribution and growth, the products are working but growth will not come without investment.

Biggest negative cash - The Group utilised £448,000 of its £600,000 UK overdraft facility at the balance sheet date, although it also had £211,000 of cash in the US. Subsequent to the balance sheet date this overdraft facility has been increased to £700,000 until the end of March 2022 in order to provide additional headroom as the Company navigates the unprecedented global supply chain challenges. Short term borrowings have risen as we drew down on our UK invoice discounting facility during the period. This facility has recently been increased to £1.7 million.

Great points Hedgehog, I for many years have believed there is value here.

The issue is that other than the 2015 period where a major contract was delivered for the post office the business has failed to delivery sustainable material growth and thus the share price has drifted.

The underlying picture in 2022 as these releases and you point out, show this is a very different business to that of 2015. Unfortunately the pandemic has masked this great progress in the transformation and revenue has lagged. As I state in an earlier post. We need a clear management position that we can grow revenues, reinvest and drive shareholder value by 20% per annum for the next 5 years. That will kick start some interest.

This is great news, however those who clearly knew and purchased early along with this statement being issued as "This is a Reach announcement and the information contained is not considered to have a significant impact on management's expectations of the Group's performance." ought to be investigated. There is definitely something wrong here - if it is immaterial as the management state then why the price move? Something stinks and worse the company seem complicit. But I will take the rise.

In short - No.

I'm still here with my 1% in this company. I was unable to make it to the AGM but managed the investor call in early November. On the whole the ship remains pretty sound and the strategy in the US is going well. Without a pandemic and the challenges it has created, I think we would be hearing more bullish messages but these need to translate to the bottom line which I think they know. The opportunity to use the attractive government schemes to tap on liquidly was used, so we have a little extra working capital, and furlough was used which also helped costs. The talk is growth is SaaS and clocks which provide re-occurring revenue opportunity. I think that further working capital is required and this may come in debt or a rights issue. Either might be initially perceived as negative but if the cash can be used to expand and grow the US or re-occurring revenue lines that would be welcomed as they are the future of this business. We need a story of 20%+ growth in revenues YoY for the next 5 years to move this share out of this historically poor trading range. A rights issue to dilute some of the family and associates control might also be beneficial for all (unless they wish to maintain). I would like to see more of this company owned by a more diverse investor base that provides an ultimatum to Marie-Claire to deliver shareholder value or make it clear it is time to move on (even if the chairman is her dad).

Totally agree. This is significant. Yes there is a lot to fund and build to get the ore out of the ground and to the port but given the negotiated position with the creditors we could flip this and still make 3 times the value of the current market cap. 60p should easily be on the cards in the next week as people work this out.

Lovely day

It would be nice to see the price rising into the results. That investors are confident and backing the businesses strategy. But we are still not there yet. Come on Basu stick your neck out... You'll double the value of the business in the next 12 months or fall on your sword.. This is so painful for someone who has been in this stock since 2014..

Well I didn't recognise 'Recognition PR' so had to Google them. Whilst they might be one of the 'north's leading firms' we need a Global PR firm. Seriously you couldn't make it up. Since when has Darlington been the global connected spin factory. Why is this not being picked up in the wires, this is surely a big enough story to break somewhere other than in the business news pages linked to small companies.....

Go go go.....

Not a bad trading update. Revenue of £10m in 2H shows 25% growth on 1H and not sure of YoY but two halves of £10m revenue gives a £20m annualised. A small profit for the year must mean £300k profit for 2H.

They could have presented this update better, very interested in the future pipeline and would like to see real ambition but perhaps I am asking too much from this team. Give us a £1m+ profit in the next 12 months should be a stated aim! Let's see what the actual results tell us...

Hear hear! I was unfortunate enough to invest just after float, a long time here. We are a commercial enterprise and the market is not accepting continued capital burn without return. To raise expectations, raise capital and then go quiet isn't what I expected. I'll wait of course having around 100,000 share now but if he disappoints again I'll be taking control of my voting rights and be sending my thoughts to the current board.

Thanks for the link, made me go to look at the website for the first time in a while. New home page video launched on the 28 Aug. The went to youtube to look at how many people have watched it - total 4.....

They are shouting about their new photo copier sized airborne CV-19 detection system. But where are the orders????

Come on KMK....