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I recall a post from stokey that said the JR decision might not be made during or straight after the proceedings, it can take a few weeks for the decision to be handed down (apologies to stokey if i have misquoted him ), however if the decision is against the parties that sought the JR, I would expect a nice spike in the SP.
Sale of another UK cyber security co, ECSC Group offered £5.4 M cash = 54p ps, yesterdays close 20p, turnover 2022 £5.8M with £.3 M cash & £.9 dept. Given the appalling SP performance, silence from the BOD this will probably be the best result shareholders can have here. The BOD have had years and £7.1 cash to turn this around, but clearly unable to, given the growth industry they are operating in, they are clearly inept.
Your post last Thursday said Business / trading update. The financial year end statement is known unless they include a post year end report, still no need for your silly RIP comment.
Trading update 8/22, Interim results 9/22 and Finals 12/22.
Hi RazzaB, The financial year end here is 31/3/2023, based on last years RNS's trading update might not be till August, Falanx are not good at keeping investors informed, maybe one before with luck, final roll of the dice for the BOD.
The sale would of been at a considerable loss, they just took advantage of the SP spike due to FSS. Investors here should know that we need a lot more good news to fall before we see the SP move north.
Hello All, Apart from being an investor I would have an interest in Naval History and most things that float !! I can tell you that H & W built 174 ships for the Royal Navy between 1868 - 1969 of various type/size, there is no record that they built a submarine, however have built semi submersible jack up rigs and a submarine depot ship in 1940 - 1942, however given the facilities they have, that is not to say they could in the future, Roly
Pointless replying to my post Noel as you are filtered.
Hi NTMU, As a shareholder I hope that you are correct, however I have compiled a few figures for you from their reported accounts.
Boost loan + sale of Assynt = £7.1 M.
Cash @ 31/3/2022 = £3.5 M.
Cash @ 8/12/2022 = £1.96M.
Last reported turnover = £3.78 M Divided by 55 employees = turnover rate per employee of £69K. Current cash burn rate of £192 K per month = zero cash November 2023.... Unless turnover greatly increases or sale of company. My figures are correct, however do not know turnover since October 2022, but still think that the board have had plenty of time to turn this around however the figures do not support their ability to do so. I have reduced but will hold the remainder in hope, Roly.
Hello stokey12, I am more a reader here now than a poster, however keep up the great posts, this also goes for all the other LTH's here who I note are getting berated by some here !!, moving on, I do not think we will have to wait till Sept for a decent uptick, surely confirmation of the Astra credit line and a positive IM. review followed by a FID should push the SP north, having said that UK growth stocks are still be hammered and will continue to be so for some time as larger investors move assets into safer less volatile funds, bonds gold etc...Roly
Hi NTMU, I agree with your sentiment, pity it is come to that here, having said that will FCS still be trading year end ? I am not so sure anymore, and still hope for a sale of the company, as the board appear to have proven that they are unable to turn this around, even though they are in a high growth industry, also shareholders are locked in due to this stock being very illiquid. If still a shareholder I might jump on a plane to have a chat at the next AGM. But you never know, rabbit and hat !.
How am I a hypocrite ? You missed my point, why would anyone take investment advice from a faceless poster ?? given the amount of ramping/deramping you read on these boards, you clearly are unable to answer that, however on this occasion you are correct, it is apparent that FLX/FCS will fail. I have said here since February 2022 that the board should sell the business while it is viable, as the board have had many years to turn this around but have failed, staggering really when you look at the growth in the industry. FWIW I have reduced from 3M to 1M in old money at a loss, I am sure you and Noel are happy now !.
I would be the type of person that would wish others the best with their investments, however we have two individuals here that take glee with investors losses here, not only do I find that sad and in extreme poor taste, but it does say a lot about their character or lack of, and before they respond with the normal warning of we told you so.... who in their right mind would take investment advice from a faceless deramping poster on boards such as this ?.