Member Info for mugginsthedog

Paul - and who is Little Weed!?

The market understands this and has marked the SP accordingly.

Unless there are real orders and sales this company will continue to flail around. They will simply not accept the GB bluster. What about cruise sales, the breathalyser that was all sorted and the waste that remains in testing. So much promised and so little delivered.

There is no exponential growth in turnover. Take out the MW turnover then the underlying revenues for this year are less than stellar

95% of posts on here are mindless ramping. Anytime there is a dissenting voice they get shouted down. Hmm.... What does that tell you.

Time to wake up and ask some proper questions of management rather than the endless ramping. The market has seen through the bluff and bluster of GB and his highly vocal supporters and want some answers.

Ratty a few other topics for you to focus on. Why are the management incapable of commercialising perfectly good technology , why are we being left behind, why does Mrs GB think so little of the companies prospects that she sells shares (good timing given the SP collapse!), why does the Board award itself and the NXDs a bunch of options totally against best practice whilst GB says is normal, why cannot they produce public documents that are not littered with basic errors and omissions, why cannot a tech company get an RNS on to its own website.

There are inadequate orders and sales and perhaps there are a few on this board who should acknowledge that and start asking management for some answers to real and relevant questions rather than providing false information, deception and drivel.

With a sense of inevitability here comes ratty with a bunch of completely unrelated drivel masquerading a ‘research’. If you want to do some proper research ratty how about why are margins so low, when will they run out of cash and require another dilutive fund raise given the ever increasing cost base, why are they not winning orders, why are sales forecasts so disappointing, what has happened to the breathalyser which was supposed to have been ‘sorted’ 9 months ago, why is waste water testing still under testing.

PIs have seen through the muppet posters on this BB and realise that they cannot believe a word they say. They have been caught out time and time again just like someone else we know.

And while we are at it let’s not forget the absolutely pathetic attempts to suggest that the Chinese would come to the rescue and take over a failing minnow that is DVRG. Talk about trying to mislead….they really must be desperate. As many of the rampers got in in the last 9 months they will be sitting on big losses which they cannot afford which is no doubt behind their attempts to deceive and obfuscate.

Yet again the rampers on here have been caught out saying that a trial is using DVRG technology when it is simply not the case. This has happened on numerous occasions. All they actually achieve is to demonstrate how far behind DVRG are in commercialising the technology.

The rampers have lost any credibility with these endless attempts to mislead and are trusted about as much as GB

Chuck if you go through GBs previous presentations the cruise market was left, right and centre of sales. For both the breathalyser and waste water testing. As is so often the case GB pumps and pumps then fails to deliver.

No wonder more and more people do not believe a word he says.

I may not always agree with drshan but I completely agree that a MSYS merger would be an utter disaster. MW was bad enough. The mergers do nothing more than enrich GB

drshan - ' completion of more than 5,000 tests which was the limit of capacity up to the end of June' taken as read that they have only completed 5,000 tests to the end of June, not 5,000 per month.

Unfortunately you cannot really trust what GB says. To say that everything is going to plan a few days ago then announce a 3 month delay to the Chinese JV a week later says it all really.

San Diego - interesting point about STC. STC was announced sometime in first quarter with demand apparently so hgh that they had to stop taking orders! Really? It seems that the actual number of tests totals 5,000. Roughly 1,000/month. Underwhelming at best.

Posters on this BB were speculating that they were already doing 10ks/month

Andy Capp the SP was at 72p around the time of the last AGM and therefore has fallen substantially since then.

icepick I think that you have helpfully confirmed that they have not been able to put the announcement on their own website. At least in the short term they have a link to another source. I do not think that I have ever seen that level of incompetence and certainly not for a company that claims to be a tech co.

Looks as if they cannot even update their website for the announcement. I thought DVRG were a tech company?

So to summarise;
• No increase in revenue projections. This would be required to be announced if there were any changes.
• No new orders
• China delayed (again)
• Waste water detection still under testing. The impression was that testing had been completed and we were well into the commercialisation phase. 12 months ago they announced that they were testing.
• No update on the breathalyser.
• No sales data for STC. With no increase in revenue projections the reasonable assumption is that sales are low.
• No update on the cruise sector.

I would summarise as lots more spending with no uplift in orders or sales. No wonder the SP has tanked over the last 9 months.

BTW why is the RNS not on the website?

When I suggested that SP might fall back into the 20s and that the company would require a discounted dilutive fund raise I was subject to a lot of abuse – the abuse largely came from the rampers who seem entirely oblivious to the clear and obvious problems with this company. Too much BS, too many promises that are not delivered on, too much twitter ramping and nowhere near enough delivery. Who can forget the cruise sector that was going to be our saviour, or the breathalyser where everything was supposed to be sorted but is still in testing 9 months later.

The guesses as to where the SP might go in the absence of substantial news varied from 0.5p to 26p. Perhaps worth having a look what it might actually be.

Forecast turnover for 2021 is £10m. This is an increase from 2020 turnover of 2020 of £4.483m and therefore looks good on the face of it. However 2021 includes a full year of MW revenues, so what are the underlying revenues of the ‘old’ DVRG – presumably with all the additional revenue lines a multiple of 2020. To date MW has a 2021 order of £3.6m and based on previous years will likely generate a further £1 to 1.5m over the rest of the year taking total sales on MW to £4.6 to 5.1m. Being generous and taking the lower end of this range then the ‘old’ DVRG only has to hit £5.4m to get to the forecast. This a fairly sluggardly growth for a company that is supposed to be growing exponentially. Please do not tell me that the forecast will not be increased until some far off later date - if there is any material change in the forecast it is required to be made known to the market immediately.

So if revenues are looking uninspiring then what about costs?

On closer analysis the latest financial statements costs look worse and worse. Turnover was very close to the in house broker TP estimate of £4.4m. However the cost of sales was estimated to be £2m by TP but was actually £2.639m. Given that the TP turnover estimates were produced after the year end the difference is astonishing and something seems to have gone badly wrong. This increase in costs has nothing to do with dropping margins to go for a higher turnover as turnover has barely increased as we have seen.

A similar story on admin costs. Per TP expected to be £3.4m but were actually £4.561m. or £4.17m after exceptional costs. These look to be on the verge of being out of control. Let’s not forget that these are before the next big chunk of admin costs which will push costs up substantially. There needs to be very substantial increase in t/o to cover these additional costs and no sign of that so far.

None of this is good news for future SP performance. So, in the absence of news, I could see these slipping back into the teens.

The SP has been pretty much in terminal decline since the car crash AGM presentation - a fall from 75p to todays 27p. If you had to wait for a day when there was a SP increase before you were allowed to post by Andycapp and his merry men you would be waiting for a long time!

I am invested and I have made that clear consistently.

It would be nice to have a goal to cheer. The lack of goal(s) is the reason why the SP is sliding. Instead we have a manager who scores a series of own goals.

So Trills - how low will it go without news? I seem to recall that you were one of the idiots who said that it would never fall back into 20s. Hmmmmm....

Many people on her gave a lot of abuse when it was suggested that the SP could fall back into the 20s. They were wrong.

In the absence of further significant news (and the appointment of a new Marketing Officer does not count as significant) how low do people think that this might go?