Member Info for mugginsthedog

Seems like there is one rule for the rampers and and another for the realists.

You are allowed to say anything that is positive even if it is clearly nonsense, not backed up by the facts, derivative, repetitive and simplistic.

The realists are derided, accused of being too negative and then bizarrely criticised for being overly helpful.

Back in the real world I am sure that we are all looking forward to Suhail answering the question regarding how the company will fund itself in the absence of a corporate sale.

Interesting question. Perhaps because the likely purchaser of the technology in a liquidation would be Sunup and Sunup are MW's partners in Korea.

I think that we are all looking forward Suhail's answers to GP

You are not really suggesting that someone is actually trying to short a microcap with a £2m market cap!?
BTW what is the website?
Also, I have probably missed something but the PDO does not seem to involve MW?

Obviously good news that they have a contract, particularly given how poor they have been commercialising the technology. However, pretty pointless RNS without any indication of value. Looking at other AIM companies it is very unusual not to provide any financial information. In the absence of any relevant data the market has taken its own view. A shame as it seems an interesting development

BB – the company has some great technology in a sector that is likely to grow but management has been very poor at commercialising that technology.

The company is in a financial crisis and has done a number of capital raisings over the last year or so - all at a significantly higher price than the current SP. They are almost certainly going to run out of cash imminently without the sale of the Monitoring Division. The balance sheet position and cash flow is desperate. They have already had to appoint administrators to a couple of key companies with the group due to a lack of cash.

The Monitoring Division should raise at least £4m in normal times. These are not normal times and no doubt the potential purchaser will be exploiting that and driving the price down. There have been no sales updates for about three months which is very concerning. They have built up a large trade creditor position and at least £1m+ of any sales proceeds will be required to get that back in line.

If they do manage to complete the sale before they go bust would you trust the management to do any better exploiting the technology than they have done so far?

If they announce a sale and major contract win the SP will soar. If they do not complete the sale shortly then they will likely go to the knackers yard.

Am a bit surprised that they have managed to keep going until know tbh. Let’s hope there is a positive announcement(s) shortly.

A very fair point. The suggestion that attendance at a (relatively insignificant) award dinner is in some way 'massive' sets a new low bar. What would be welcome is some significant sales.

It seems that one poster even thinks that the Monitoring Division has been sold. Very sad.....

It has been brought to my attention that there may be one or two less informed posters who think that the Monitoring business has been sold. I confess that I thought nobody would be that foolish. However, after perusing the posts of one poster (Ant – you know who you are) the only explanation of their rather curious posts is that they really think that Monitoring has been sold. The company has only said that negotiations are ongoing. The Monitoring business has clearly not been sold. If and when it is contractually sold there will be an RNS which should include details including price. Alternatively if the potential purchaser walks away they will need to issue another RNS telling us that (I would expect that this would probably be quickly followed by an RNS announcing the appointment of liquidators as the company would be unlikely to be able to demonstrate that it can keep trading for a year). It is deeply unfortunate that one ill-informed poster may have given the impression that the sale is a done deal – it is not.

Any - Whenever anyone gives a reasoned, balanced view backed by evidence and analysis you respond with an insult. Perhaps you should go back to school and do a bit of homework.

They have not sold the business. Look at the wording - it is clear that the sale is far from unconditional. The longer the delay the greater the chance that it does not happen or the price is gouged. You do not even have a basic understanding of contract law. You are really beginning to embarrass yourself. The more you ramp and insult the clearer it is that you utterly clueless. Fortunately the market and punters know a muppet when they see one.

This merely confirms the point. Given the time since this announcement and their ongoing cash outflow they will be bust imminently unless they sell the business.

No one is going to give them a juicy new long term contract when it is clear that they are on the verge financially. Look what happened to Gib. They have admitted that sales are poor.

The AMBC RNS gives any indication that any sale is significant in size and that is confirmed in the half year results where membrane sales are insignificant and lower than the previous year.

I also note that the companies Chairman stated in the half year results that ‘sales especially in the Membranes Division were not developing fast enough, leading to the insolvency of two of the Group's subsidiaries.’

There is also mention in a recent RNS that ‘Modern Water,….. announces that it is today filing notices of intention to appoint an administrator ("Notices of Intention") in respect of two of the Company's wholly-owned subsidiaries, being Modern Water Services Limited ("MWSL") and Surrey Aquatechnology Limited ("ASL"). These are the principal operating subsidiaries of the Company's Membrane Division.’ Shortly afterwards it flip flopped and said that it was keeping membranes – but either way hardly a ringing endorsement?

As far as i can make out none of these are even vaguely related to sales. They have not sold the business months after the announcement and they have not made a significant sale for years. We know that the technology is good and there is the potential for significant environmental improvements but management has failed to deliver any sales.

Look at the half year results for the increased creditors.

At least we seem to be making progress with acknowledgement that they have a cash crisis. Now work out how much longer they have before they run out of money in the absence of the corporate disposal.

Then address gettingpoorers point about the lack of sales over many years.

Suggest that you look at gettingpoorers notes, look at the massively increased creditors at the half year compared to previous periods, look at the cash at the half year adjusted for the small fundraise compared to the monthly cash outflow.

Even you might be able to do this.

If you do then you will see that gettingpoorer is correct in his assessment that they are skint. You might also be able to see that a big chunk of any sales proceeds will have to repay creditors built up over this period of financial stress.

Perhaps a bit more analysis, less name calling and more self doubt might be in order?

Gettingpoorer you make some excellent points. The company has been extremely poor at getting sales, despite the technology being proved many years ago.

The first £1.5m of any proceeds from a sale will need to go to pay creditors.

There are a number of people on this board who have failed to do even the most basic analysis. They seem unwilling or unable to answer or address issues that you and others have quite legitimately have asked.

I have lost count of the number of times that they have promised an imminent RNS which has failed to happen. As the delays continue perhaps even the most blinkered will wake up and do a bit of basic research.

Suhail seems to lack some understanding of the regulatory system. An AIM listed company simply cannot delay a price sensitive announcement whilst the company waits for some other bit of news. A company is required to make the announcement straight away. The ongoing delay does indeed suggest that things are not going well with the sale. As time moves on the lower the price will be and the likelihood that a sale does not happen until after an administrator is appointed increases.

I suspect that coolcatcol is probably right - you are either in it or not and we just have to wait.

It is quite difficult to take anyone too seriously who has demonstrated that he does not understand the difference between a registered address and trading address for a company as Suhail did earlier today. However, when that same person states that anyone who does not agree with them is a bulletin board dosser, it becomes hilarious.

In a regular situation Monitoring should indeed sell for several million and I agree that there should be a significant bump in the SP as a result. However, we are not in a regular situation. The company is running on fumes as has clearly been demonstrated and the potential purchaser will know this. The longer the purchaser waits, the higher the desperation level at MW. In the doomsday scenario for shareholders the potential purchaser might just wait and buy Monitoring from the administrator.

It is quite a binary situation and none of us know the final outcome. However, as time goes on without an RNS the more concerned I get.

I really do not think that this is contentious and I am a little surprised that I am receiving such vitriol from some, when I am just stating what is fairly obvious.

I deeply apologise for my error. I should clearly have said "The only 'relevant' facts are that they have pretty much run out of money and the sale has not concluded.

That is a dangerous combination."

If they are about to run, or have run, out of cash then pretty much everything else is irrelevant.

I am well aware of the half year report and the numbers quoted earlier were from that report. Cash is king - everything else is speculation.

I am very sorry if the relevant facts upset you but even so, rather than spouting bile, a focus on analysis would be welcome.