Member Info for KaChing

Finally admitting what was known by some when they acquired GC that it was and is a huge drain on resources, APC is very interesting now that that black hole has gone, especially at the current sp.

To see another decent contract.

Sahid ��� At the halfway stage Current assets were �8,733,000 and Current liabilities were �11,960,000 which is a difference on the negative side of �3,277,000 ��.. The recent placing doesn�t cover half of that hole! Or another way and again at the halfway stage Receivables were �5,789,000 and Payables were �9,009,000 a negative difference of �3,220,000 ��. Again the placing doesn�t cover that hole The big black hole on the balance sheet can be traced back to the GC acquisition and the guy from GC is now running APC �� I�ve pointed out before that that isn�t great news. Cash flow here is still the killer ��. IMO ��. There will probably be more �positive� RNS�s along the way to try and steady the sp before they look for more funds.

and lose some!

More progress

Anyone who's looked at the balance sheet should know that �1.1m isn't enough, they will be back again for "working cap", the numbers are there in black and white.

No surprise there

They are buying again, it's been a while

Interesting here

Surely if they can get wind farms up fairly quickly they can get results out in six months. I have thought of selling but decided to leave it be to see what happens in time because I still believe there is value here. Time will tell

Yeah, that's a very nice AGM statement

I think they need a placing because they need the money to finance the £3m (at the half year stage) in negative current assets. They might still have the £6m finance facility but today's news is only an extension on the time frame of it, they still had £3m left when they did a placing in Feb, why place then, why not just use the finance facility? I’d say because they can’t use it for working capital because they have negative £3m in cur assets and the loan will have covenants attached to it along those lines New brokers normally come on board because they have clients willing to lend money. We’ll see in time, but I still think the negative cash flow that can be traced back to the GC acquisition is a big problem here ……. IMO

Chance of another placing to help out with the near £3m in negative current assets has to be pretty strong with a new Broker/adviser on board

No incentive in the incentive scheme! What shall we do? Change it into a more favourable arrangement. Lets hope this new scheme is better than the first one for the privileged few, who in their right mind agreed to a discounted cash flow calculation on a company with constant negative cash flow?!!

£1.7M profit! Really?! It must be great having no overheads to pay out

I see that profit or even their favoured metric EBITDA is still pretty meaningless, without the one off HMRC settlement shenanigans dropping onto the P&L page and a tax incentive payment they actually made yet another loss of £105k. Either way, if you believe the headline profit of £601k or the EBITDA figure of £240k or even the in real terms loss of £105k it doesn’t explain how they had negative free cash flow of around £400k and that’s with the Tax credit and one off income from a sale of Property etc., without them negative cash flow was as they say near to £700k ……. But at least that is consistent They need an injection of funds, IMO

Lovely, and another 4.75m mopped up

Apparently the guy from GATE is intent on buying R4E shares according to folk who talked to Johnny Hon at the UK Investors Show ....... he seems to be buying anything that is available, which is great for anyone already in. Info for the above came from the share prophets bear cast yesterday, no point posting a link as this site normally tries to block it. TW has fair value at 3.2p to 3.5p although he says he knows a few people that think fair value should start with a 4 (info in the same bearcast)

200 dma ...... for me anything under 3p has upside in this company that is throwing off decent FREE CASH

And another 4.25m mopped up, someday soon this might just pop nicely!