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I werent expecting that but that's profit warnings for you (again unexpected)

This is looking tasty is what I said and apparently this is a H2 heavy business http://www.hubinvest.com/AIMPDFAugust2014_59.pdf This needs to be researched to verify this claim but, if true, despite missing of 60p of gains since I lasted posted this would be worth buying into

Facts Revenue rose 21% Gross Profit rose 45% Operating Profit rose 165% PBT actually fell 10% EPS fell 30% TNW rose ~10% My Thoughts From the above this may look like a fairly mixed bag (due to PBT and EPS falling). However a very large chunk of 2013’s PBT was exceptional .i.e. it was very artificial. It is for that reason that SAF appeared to be so cheap – because the market knew the profit before tax made in 2013 was not reflective of SAF’s performance. For the above reason the decline in PBT and EPS should be totally ignored. As you can see from the huge rises in gross profit and operating profit the business is clearly performing far better now than it was before, and that’s what is important. For that reason I reckon this has a lot further to rise. Now let’s look at some ratios etc. At a market cap of £7.6m the P/E ratio is just 9.4; the EV/EBIT ratio is 8.9, SAF is trading at a 40% discount to its NAV and to it’s TNW. All of those ratios are superb, especially for a company which is clearly growing so fast. Conclusion This is clearly very v cheap; there's a huge margin of safety, and - whilst SAF was cheap for good reason - that is no longer the case (the profits are real). So, if I hadn’t spent so much recently on holidays etc, I’d buy into this tomorrow. Strong Buy

I've had a v expensive couple of months (birthdays, holidays, etc) and so I don't have the cash to buy in yet. Was planning to after pay day but, at this rate, it's going to be about 20p by then. Slow down!!

2 x Strong Buy http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?username=&ac=&csi=19830193 For the record the forecasts roughly match my own predicted numbers.

Apparently they expect EPS to fall in the 2014 FY. Really?! http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?username=&ac=&csi=1843057

3 x strong buy, 1 x neutral http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?username=&ac=&csi=13842

http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?username=&ac=&csi=19300507

http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?username=&ac=&csi=11618 say forward PE of 9 - that's superb!

Haha

Rick, Thanks for bringing that to my attention. Just seen the section of the RNS now... "The Group generated a gross profit of £2.2 million and the profit after tax was £0.97 million" ...what plonkers Allenby Capital were there haha! Ah that's a huge relief. SYQ is an absolutely beauty like I originally thought after all. STRONG BUY

Additionally, taking a long term view, the cash flow issue isn't much of an issue. Let me explain: The cash flow issue is due to the revenues generated through the Indonesian Telco called PTNP not finding its way to SyQic in their entirety. SyQic work with quite a few Telcos but PTNP are the largest and, combined with the fact their business model relied entirely on Telcos, this is where the huge cash flow issue has arisen. PTNP accounted for close to 40% of 2013 revenue, or close to £1.8m. Now, going forward, as SyQic expand into other territories through Telcos who actually play ball and pay what they owe on time the % of revenue derived from PTNP will shrink. More importantly, as SyQic switch over to their OTT business model, Telcos won't be the source of SyQic's revenues. Everything will go from the users to SyQic directly. As this continues PTNP won't be needed at all and SyQic can just continue receiving payments from them until PTNP owe SyQic nothing more. It is for this reason (thanks to SyQic's expansion and move to the OTT business model) that I am willing to overlook the cash flow issues the company are experiencing in the short term. Just thought I'd explain - hope that makes sense.

following the RNS today Good Points Revenue up 424% Gross Profit up 2,671% H1 2014 Revenue (£4.6m) = FY 2013 Revenue (£4.7m) Placing is at a good price (3.8% discount shows high demand) Maaduu acquisition sounds very good in some respects. SyQic have “over 1 million subscribers” and this will add a further 850,000 subscribers and there are clearly plenty of other benefits to this acquisition that may cost as little as £0.58m. From what we know PTNP, the villain in SyQic’s story to a large extent, has not missed a payment to SyQic and are now paying them much more promptly (we’ve been told). Bad Points The fact they did not state Maaduu’s profit is not a good sign. If the additional benefits do not come through this acquisition may end up looking like £0.58m badly spent. The size of the placing is a result of cash flow issues – namely PTNP not paying what they owe to SyQic fast enough. The fact PTNP have paid their January 2014 payment of £350,000 is good in itself, but it makes me wonder why this is only being announced now. I think it’s a sign that PTNP continue to be slow at paying SyQic what they owe. ******s. Gross Profit is lower than I was expecting. £0.97m of £4.6m revenue is 21.1% - nowhere near the 59% I am expecting for the full year. I find this very concerning and am irritated that no explanation has been given. Conclusion SyQic is growing incredibly fast as it is. This growth is being accelerated by this acquisition. The move from the Telco business model to the OTT business model is proving its worth. Revenue is in line to grow about 100% this year and 2015 is looking even better. It’s worth noting that the Revenue and Gross Profit growth is flattered by how poor H1 2013 was for SyQic (through no fault of their own). Having said that, even taking the above into account, SyQic is growing very fast. And, despite my grumbling about the gross profit margin, gross profit is clearly much higher than it was at the same time last year – I am still expecting profit before tax to increase by 260%. I predict the forward PE ratio will be below 7 and the forward EV/EVIT will be below 6.5 – both of these are way below the market average and the sector average. In other words SyQic is incredibly cheap. The major fly in the ointment is how slow PTNP is paying SyQic but, providing you believe SyQic will receive the full amount of what they’re owed by this Telco, then you’d be mad not to invest in SyQic. Based on various assumptions my Target Price has increased from 144p to 169p

so glad I sold when I did

Will look at the first 2 but CAMK, seriously?! It's Chinese and therefore super risky. So surprised you've gone for that. I'm currently looking at DSN and Mira again. And when I say looking I literally mean watching the share price movements and wondering when to take a position lol. Former will definitely happen. Latter needs some more research but looking likely. Hope you're well VBR Dan

Wise move, jolly, becuase this is a cheap share and I feel that all the holders who sold cos of the new chappy are out now. i.e. that this share has bottomed out and will rise from here to a fairer valuation :) you're a smart cookie lol, what else you buying?

why you dipping below 60p again? This is undervalued as it is IMHO

Should have acted on my 19 June post when I realised this was dirt cheap. I blame my lack of confidence in my abilities as an investor these days. Will do some research again when I get a chance. Well done to you, Jolly. Hope you're keeping well :)

Read this http://www.stockopedia.com/content/stockranks-upgrades-and-downgrades-august-5th-85172/ Additionally the PE is low, the historical EV/EBIT is 10, it pays a dividend and the TNW is over 60% of MC. Research further

TRI sold a subsidiary to AVG. Considering it was loss makin it should enhance earnings from here on in, and AVG's cash will lower the EV here. Need to do some research to work things out but all in all TRI is looking v good. Additional note to self - aim prospector covered TRI favourably