Member Info for Nova888

RNS would suggest you’re wrong Sandy

Hi Sandyman

No worries mate I’m only posting on here what friends working there tell me and I have 1 family member working at a supplier

Tooling plant was removed last week as they owe £100k hire fees

Landlord has demanded £600k rent or lights go off and locks changed

PPE provider has locked all cabinets until overdue accounts are settled so staff can’t actually get hold of their PPE

A guy that won a Chris Hoy raffle turned up to collect his break set and they didn’t exist

Staff being furloughed for 2 weeks on £39.00 a day with no guarantee of work after that

No redundancy or sick pay for anybody on probation

Orders being partially processed but cannot be finished

CEO confirms they’re looking for 7mil (or nearest) offers for the business

Agree this is all second hand news and not from my mouth but posting it on here as blind confirmation bias like yours is dangerous and creates an echo chamber

Yes can confirm

Plant machinery has already been removed

Word in the city is that the company is looking for circa 7mil buyout / takeover

Anybody buying at that price + debt needs their head shaking

I’d try to get rid of your confirmation bias

From people inside the factory it sounds like they’re getting through existing backlogs and then closing the doors

They need a buyer but at what price? Equity will be worth 0.00

Only know second hand news mate

I heard shifts are being told they’re off for a month no pay

Goes from bad to worse when the landlord is asking for his £580k rent arrears or the lights are going off Friday

Staff being told that they’ll be laid off for a month without pay and to top it off a raffle winner from a Chris Hoy charity event turned up for his brakes and they don’t exist

It’s a laughable investment, but this is peoples lives they’re ruining

This is a pure example of how a brilliant product can be ruined by ineptitude

Management didn’t have a clue how to run a manufacturing facility

Ordering £1m+ drilling kit that over heats in use because it was never properly tested prior to ordering

Leaving plant equipment out in the car park for a year

Implementing the most embarrassingly ignorant repair processes so that repaired plant cannot be used until the individual that repaired it comes back on shift (imagine the issues with holidays etc)

Internal processes being so painfully disconnected that breaks cannot be finished and are stock piled

Delays in delivery

Quality issues resulting in circa 40% being rejected

Inconsistent output (one week 100 break sets the next 20)

No wonder GM got rid

Persistent delays, failing QA, recalls, production issues etc

Only second hand info

My friend works at a supplier and he’s on the phone to a lad at surface transforms

Says they were on a teams meeting and got told 100 jobs going and they’ll be on £39.00 a day but orders are still being sent out

2 production machines are broken and won’t be getting fixed.

Guy taking the meeting said they are looking for a buyer but it’ll be at a huge discount

Staff are on a teams meeting as we speak being made redundant

100 redundancies being made

Staff being offered £39.00 a day statutory pay

Shocking

Yes I believe orders are still busy

Pangloss

GM pulled the contract because SCE consistently missed deadlines, had recalls, failed QA etc

Under the terms of the contract GM have the right to terminate and they paid 14mil upfront so there are no future payments due

Friend of mine works at a supplier and they’ve not been paid but board are silent

Not a bean from them. Orders are still being processed and sent out the door

To reiterate the point

Literally nothing has changed in terms of fundamentals

The business has always been regarded as holding the golden goose with injectaclad: other arms to the business (AGT) for example are steady but aren’t going to blow your socks off

So; if you invested in LST based on their AGT your intentions must have been for a slow and steady return: in which case you’re a long term holder and short term SP fluctuation don’t matter

Or, if you invested based on the potential for injectaclad to take over the passive fire market, then you’re still in exactly the same position (fundamentally) as you were when you invested only LST now own its patents and company completely

Both can’t be true

Been holding here for a year or so

Try to avoid forums as they become an echo chamber but playing devils advocate here

LST now own 100% of injectaclad and we know it’s being rolled out with good success

It is also being reviewed for approval by HSE.

It doesn’t take many contracts for the share price to treble from here

See it as an opportunity. Nothing has changed in terms of fundamentals

Stupidly cheap at the minute

I am also happy to accumulate at these levels and build a nice pot.

Guly you’re talking utter nonsense

Put your confirmation bias to one side and just think logically

There’s more chance of this going to 0.00 than getting more external funding

The echo chamber never disappoints

Brad ought to get onto investor meet company or similar and go through the results in detail

The de rampers show little to no investment experience and the rampers show excessive confirmation bias

Neither are a benefit to anybody

You’re here investing in a gold exploration / mining company

What do you expect?

Forums like this always become an echo chamber for rampy nonsense and lessons need to be learnt

Doesn’t detract away from the fact that the results are brilliant