Member Info for rivaldo

Excellent numbers - £1.1m PBT and 0.27p EPS for a £5.7m m/cap company trading at 2p makes MOGP look very cheap indeed.

The EPS would have been a lot higher but for the very high tax charge at 38% - half of which is due a one-off deferred tax debit, so is much higher percentage-wise than last year. Without this the true post-tax profit and EPS would have been even greater.

The outlook in particular is very, very bullish. It's not often you see such confidence not only for the current year, but for years ahead, with the introduction of 5G having a "profound" impact on Group performance.

Mucho upside here imho.

This train really is rolling now.....

Https://uk.advfn.com/stock-market/london/gan-GAN/share-news/GAN-PLC-Legalization-of-Online-Sports-Betting-in-N/80133930

"GAN PLC Legalization of Online Sports Betting in NH

GAN Welcomes the Legalization of Online Sports Betting in the State of New Hampshire

London & Dublin - June 14, 2019: GAN plc ("GAN" or the "Company"), an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, welcomes the signing and legalization of internet sports betting in New Hampshire. New Hampshire is the 14(th) State to legalize sports wagering in the US and the sixth to do so this year. Following the launch, nearly 21% of the total US population will be able to place sports wagers online.

The sports betting legislation received approval in the New Hampshire House yesterday, June 13(th) . The bill will now go to the Governor, who has already included sports betting revenue in his state budget and is expected to sign the bill within the next three to four weeks."

Another 25k just bought at 15p, plus a couple of smaller buys, and another big mark up given that presumably the MMs can't find any stock to satisfy the demand.

And Cannacord have retained their 800p price target.

and buying coming in at above 100p now and at 102p.

Omerta, the ridiculous dip was due to an overblown report from a shorter about historic cash flows (which have been fast improving for the last year), property transactions with directors (which are relics of pre-PLC days and should have been stopped, but are completely immaterial and from what I understand will be stopped), and manipulation of trading of acquisitions pre and post-acquisition (where the shorter's figures barely supported such an accusation anyway). Once selling started stop losses were hit etc etc....that's the way markets work.

The shorters closed out a while ago, so they have obviously already had their pound of flesh. Institutional shareholders have almost all stayed in place - it's mainly panicking PIs who've been scared out of a relatively illiquid stock. The AGM statement in a few days will presumably reflect the recent bullish trading statement. IMO there's no reason why the share price shouldn't return to 160p-200p pronto assuming no surprises.

Just as well that GAN are partnered with FanDuel - Davy Stockbrokers state today that FanDuel are now the undisputed number one player in the market, and that "the total gaming opportunity will be materially bigger than previously anticipated":

Https://www.davy.ie/research/public/article.htm?id=ST2_16626_1.xml.htm

"DAVY VIEW

Twelve months on from the first New Jersey (NJ) sports bet, a number of important patterns have emerged. Firstly, Meadowlands (FanDuel) is now the undisputed number 1 player in the market with 52% year-to-date online market share (54% of total market). Secondly, online now represents 83% of the market, serving as an important reminder to other states currently debating the best shape for their respective sports betting industries. And, finally, the cross-sell opportunity, most notably into online casino, suggests that the total gaming opportunity will be materially bigger than previously anticipated. We must wait and see to what extent this is repeated in other states over time, but the outlook is promising. Flutter Entertainment (FLTR) is uniquely positioned in the US in our view, therefore representing the best way to play the emerging US opportunity."

from the lows, and up again today on consistent small buying with no sellers around.

Looks like there's a keen buyer out there. Let's hope this augurs well for an auto contract signing at last.

New Jersey gambling figures for for May are good:

Https://www.investegate.co.uk/gan-plc--gan-/rns/may-2019-internet-gambling--growth-for-new-jersey/201906130700110389C/

And Noujay elsewhere went to the AGM and reported as follows:

"AGM takeaways from meeting itself and further subsequent conversations:

Confidence is high and DS clearly believes in what they have and the scale of the resultant opportunity, which they are now executing. He is permanently in US and very clearly

Few direct questions asked re patent, cash increases and underlying performance but not too much in the way of further information, ie “look at the kpi’s for indicators”. Which is of course positive and there will more more to come shortly.

Asked on Winstar, performance and growth prospects for that relationship. Again positive and continues in the same vein as announced in March call. I believe they will expand this into further regulated markets shortly.

Simulated gaming is still important despite the focus on real money opportunity. They don’t convert all simulated clients to real money but at the same time what is interesting is that even if the operator gives the real money side to another platform, then in order to link the existing simulated reward points to the real money offering then they have to use/license the GAN patent thus the company gain either way. Unless they don’t wish to link reward loyalty points which is unlikely.

Thinks there will be more regulation in next few weeks.

Not too much else but overall highly positive and I maintain this is as good an opportunity as currently out there and at the current price it remains materially undervalued. All IMO etc"

Good to see a long-term and multi-solution contract win:

Https://www.investegate.co.uk/accesso-technology--acso-/rns/3-year-partnership-with-new-york-botanical-garden/201906130700160361C/

"3-year partnership with The New York Botanical Garden

Landmark Botanical Garden to utilise accesso Passport®, accesso Siriusware SM and Ingresso solutions

accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider to leisure, entertainment, hospitality, attractions and cultural markets, has agreed a new three-year partnership agreement with The New York Botanical Garden (NYBG) which will utilise the accesso Passport® eCommerce suite, the accesso Siriusware SM software solution and the Ingresso distribution platform.

The New York Botanical Garden welcomes more than 1 million visitors each year in a highly competitive location. Its choice of accesso as its technology partner reflects the Group's ability to provide a range of increasingly broad and agile solutions to meet even the most complex customer needs across ticketing, guest management and distribution.

Used in tandem, the accesso Passport® and accesso Siriusware SM solutions provide end-users a seamless experience whether they choose to purchase tickets online or at the venue, all the while enabling NYBG to drive incremental revenue and gain actionable insights into visitation patterns and visitor behaviour.

NYBG also plans to utilise accesso's global distribution platform, Ingresso, to expand its sales reach to international channels like Reserve with Google, Groupon, TripAdvisor and more. The Ingresso platform, will allow the venue to easily connect to over 1 billion potential customers around the world, engaging with them whenever and wherever they shop through a single platform optimised for quick, mobile-based purchasing decisions.

etc"

Results will be on 25th June.

We already know that the results will be slightly ahead of expectations, with EBITDA up over 30%, and the new year has started with "strong momentum", so hopefully we should get a nice run-up to what will be pleasing figures.

except for just 70k shares, which hopefully they will buy back anyway. There are only 1.9m shares in issue now, and VLE has £20.5m of cash.

Excluding the Landers' shares, almost 30% of the other shares in issue were tendered (around 644k shares) - higher than I'd imagined would be the case. Perhaps Andrew Cohen and the like tendered quite a few.

There can't be many shares available for sale out there post-tender, so hopefully any interesting news like a new acquisition or a sale of Shire at some point will meet with a good reaction.

Gailes5, I did tender some, but still have a large holding. The management are top-notch - I have every faith that they will do something worthwhile with the cash pile.

Here's more good news from last month - Compass Gold also had "encouraging" results, and are extending their drilling with CAPD in Mali:

Https://www.globenewswire.com/news-release/2019/05/15/1825115/0/en/Drilling-at-Farabakoura-Intersects-32-m-3-02-G-T-Gold.html

"Compass CEO, Larry Phillips, said, “This latest drilling has extended our primary target zone, the Farabakoura Pit Zone, to a length of over 500 m, and the structure remains open to the southeast. We now have a clearer understanding of the rock types and structures that are the main controls on mineralization. We will use this information to drill additional targets underlying the extensive Farabakoura artisanal workings. A 3,000 metre drill program with our strategic partner, Capital Drilling, will commence immediately.”

"Based on the encouraging results from the current drilling, an additional 3,000 m drilling program is planned. This will primarily focus on targets that associated with the contact of the volcaniclastic rocks and the granodiorite. Wide zones of gold mineralization have now been identified over a distance of 500 m and on the southeast extension of the Farabakoura Trend, and it appears that this tend might cross the small river that separates the Farabakoura and Kabangoué prospects. Reinterpretation of the ground geophysical data indicates that high-grade gold mineralization, such as the 1 m interval with 329.92 g/t Au in OURDD01, is likely associated with east-west trending structures. These structures will be tested in the new drilling program, expected to start within the next week using Capital Drilling."

Relatively small, but quite significant. It's firstly very complementary, secondly gives DVW the opportunity to scale up through the KWS group, and thirdly brings a beachhead into Vancouver and new geographies/markets.

And it's also extremely good value and earnings-enhancing at CAD0.66m PBT for just a CAD3.2m price. Another canny acquisition.

Edmond Jackson likes AFHP and has tipped them as a Buy on the dips (that would be now then!):

Https://www.ii.co.uk/analysis-commentary/stockwatch-kicking-tyres-brokers-55-upside-target-ii508415

Conclusion:

"Company broker projects 55% median upside

In the next three-to-five years AFH aims to increase funds under management from £5.4 billion last April to £10 billion and earn £140 million revenue with an operating margin of 25%. That implies EBITDA operating profit of around £35 million. That's fine so long as quality doesn't start to get diluted buying companies, and there's no wider crisis of investor confidence.

Shore Capital (joint broker to AFH with Liberum which is also Nominated Adviser) posits that if AFH achieves such targets then compound annual EPS growth of 25% is possible. It estimates a fair value range for the share price of 490p to 650p (mid-price 570p) on a 12-month forward view, assuming EPS of 32.7p to 2020 and multiples of 15x to 20x.

Shore reckons that as contingent liabilities for acquisitions are paid down with cash flow over 2-3 years, the earnings multiple will drop into single figures. However, this assumes no further share issuance, with future acquisitions relying on cash generation once deferred considerations have been paid.

Buy the dips, mindful of long-term risks

Market jitters anytime are liable to hit AFH just like they would any relatively small financial stock. But, all-considered, I suggest buying such dips. Financial planning looks a relatively dependable sector with good margins, and clients may prove stickier to their funds than is my fear in a downturn, although do remember that asset manager revenues link to a fund’s underlying value. Add."

With 13.6p EPS forecast this year, PTSG at 91p remain on a P/E of only 6.7.

Which is crazy - far too low.

And Liberum reiterate their 248p target.

The current year forecast is for 19p EPS, rising to 21.3p EPS next year.

The cash pile forecast to be £9.6m at the end of this year.

With the cash pile, growth potential from the Money Shop acquisition, a likely better year from fx, the rising gold price, plus solid overall prospects - and defensive qualities in a downturn - imo RFX deserve a higher rating than the present single-figure P/E. Which would justify the 248p target price.

Very optimistic in the outlook:

Https://uk.advfn.com/stock-market/london/gan-GAN/share-news/GAN-PLC-AGM-Statement/80114632

"Finally, we are especially pleased with our financial performance to date, building on the momentum achieved during the first quarter, during which we generated record revenues. All the Company's operational KPI's continue to trend positively and therefore remain excited by the potential for the remainder of the year, starting with the imminent launch of Parx Casino in Pennsylvania.

"In conclusion, 2018 was a pivotal year for GAN, and we firmly believe 2019 will be another year of tremendous operational and financial progress and I look forward to updating shareholders with our financial results for the first half of the current financial year in due course."

Foxconn confirms that supplies of iPhones won't be affected by tariffs due to the availability of manufacturing facilities away from China in India and elsewhere:

Https://www.theguardian.com/technology/2019/jun/11/apple-iphone-china-us-trade-war-not-affects-says-supplier

Looks like another good value, complementary and earnings-enhancing acquisition - £1m cost gets £0.2m EBITDA, £2.2m revenues plus all the usual synergies, cross-selling benefits etc.

Https://uk.advfn.com/stock-market/london/apc-technology-APC/share-news/APC-Technology-Group-PLC-Acquisition-of-EuroTech-E/80114745

Good results out today, with the outlook getting rosier and rosier.

$2.5m EBITDA is up from $0.2m last year. Revenues are up 57% to over $10m, and there's still a $11.9m cash pile.

New patented products are gaining traction, a rental model is building nicely, and international sales are becoming material.

This year could be a real game changer assuming the oil price remains reasonably stable:

Https://uk.advfn.com/stock-market/london/enteq-upstream-NTQ/share-news/Enteq-Upstream-PLC-Final-results-for-the-year-ende/80114627