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For HeresHopin: I guess you must be hurting to go as far back as Nov 21 to find a post where I was bullish on SFOR. A lot has changed in the macro financial world since Nov 21.Seeing as you have checked my posting history I guess you have also seen that my thoughts on SFOR changed when there was doubt as to why the results were not forthcoming. Had you listened to me then you might not be hurting so much now. By the way I do not offer financial advice; I post to express my thoughts and try to help others.
I know there are folks who come on these boards just to try and get the price down; however, it is the market that sets the price and a share is only worth what someone is prepared to pay. For every buyer there is a seller so if a 1 million buy went through someone sold 1 million. If a company screws up the market tends to be very unforgiving for some time thereafter; I learned the hard way but older and wiser I knew I had to bail out of SFOR when it could not regain and hold £4, something was wrong. If you want examples of companies where the management were less than honest with the truth take a look at PUR.L and STX.L. Some months ago I had an exchange with a fellow Scot called McHaggis (or similar) and he was ramping SFOR to the moon. I tried then to warn him that all might not be what it seems but I was deemed a deramper (if there is such a word). The present problem is not just SFOR but they have been hit hard at a time when interest rates will be increasing and companies will be cutting back on advertising. As for the various bank and broker values, they are not worth the paper they are written on as a 360 and 160 price shows. Finally there is the chance of a black swan event in The USA and that always has a knock on effect around the world. Good luck to all who hold.
The final part of The S Times report highlights where S4 now stand and in my opinion it will take some time for the Company to rebuild its reputation especially in the present geopolitical and economic climate.
"On this month’s results call, a visibly irritated Sorrell was keen to draw a line under the accounting issues, saying it was time “to rebuild confidence and trust”.
He admitted the share slump would affect his deal spree, given that S4 shares are part of the funding. He also conceded that clients and potential clients might be less inclined to work with the company in the future, given the chaos.
On Saturday, the auditor’s report confirmed serious failings in S4’s accounting. In an unusually lengthy and detailed report, PwC raised concerns about the lack of a group treasury function, explaining that account controls for most acquired companies remain decentralised.
PwC said management reassessed revenue recognition on 26 live contracts which resulted in a “material adjustment” to revenue and adjustments to cost of sales.
Some fear more problems will surface, such is the chaos inside S4 and MediaMonks. One former employee said: “I don’t think S4 will ever be a normal company.”
S4 case reminds me of a proverb: "if you look after the pennies the pounds will look after themselves."
Haggis; as a fellow Scot I wish you and SFOR every success; my gut feeling is simply that we have not heard the last about the results delay as SMS must have been aware of the problems but clearly was not at liberty to go public. My guess is that some of his problems will not be sorted overnight and until they are the sp could wallow indefinitely.
My reason for selling but keeping SFOR on my watchlist. The SFOR sp before the first results delay dropped as low as £4.10. The present price of £3.41 represents a drop of around 17% which under the circumstances I can understand. The geopolitical / financial situation world-wide is a mess; GDP is dropping in many countries and a recession is a distinct possibility. SFOR has potential but it made a loss, has quite a substantial amount of debt and interest rates are creeping up; some inflation forecasts seem to think double figure inflation is possible. Investing in any company not making money and servicing debt in this climate has to be a risk. Perhaps that is why the sp is where it is ! Here is a quote from The Wall St Journal yesterday "Growth in ad revenue is easing because of a confluence of factors, including a gradual return of consumer behaviour to pre-Covid patterns." Good luck to all who still hold.
I doubt the uncertainty has been cleared; S4 caused the delay in results and I guess they will suffer as a result; this is being reflected in the price today.
I am glad someone else is doing a bit of DD.
The following comment by Haggis is misleading.
"Resulting situation on the date on which threshold was crossed or reached 3.46%
Shares 555,464,515
Position of previous notification (if applicable) - ZERO"
Good Morning Investor Steve seeing as we are still waiting for another RNS let me clarify a few points.
"To address your points, the first half of what you say is pure speculation".
I admitted as much by saying nothing was proven.
"The point about PWC saying "we'll do you a solid and call it Covid" would be extremely dodgy of them and a risk I doubt they'd be willing to take if they'd supposedly just found something dodgy".
Fair comment but there are some dodgy business folks around.
"As to the sell, if your job is to trade a stock, you'll get the RNS pop up instantly and I can assure you it'll take less than 2 mins to read that the RNS is delayed results and hit sell".
Fair comment.
"You speak to others as if you are aware of all the risks reward yet your post makes out that you have barely scratched the surface and are basing your opinion on nothing but pure unfounded speculation"
That I do not agree with and here are a few facts worth considering: 1. On 6th Sep 2021 the SP was 849p. On or about mid-September 2021 the story broke about WPP being found guilty of some sort of fraud back in 2018 when SMS was still CEO (FACT). WPP paid the heavy fine last September but interestingly enough the shares in S4 have gone from a high of around 870p in September 2021 to a low of around 440p before any delay was mentioned on 1 March. So the FACT is that the S4 SP has almost halved since the WPP story broke back in September 2021 and if you look at the sp performance of both companies since last September you will see that WPP has outperformed S4 by a margin of around 40%. Why that has happened is SPECULATION but the FACTS speak for themselves.
I was never interested in WPP but when SMS walked away and started S4 I thought this could be interesting as digital everything was taking off; I have followed S4 ever since. Only today I went back to read about what happened/might have happened at WPP back in 2018. Why did SMS walk away? I will let you do your own research but is he a man prepared to take risks personal and financial (girls and petty cash) and hope that he does not get caught and that has been at the back of my mind today; I must add that nothing was proven back then. For the past 6 months the S4 SP has been falling away and WPP has been performing much better, has this got to SMS in some way, has he taken risks ? I thought the drop was simply because it had advanced too quickly and more recently because the Tech type stocks (growth rather than value) were all taking a hit. Early March my guess is that PWC had uncovered something and said more time required but rather than drop S4 in the clang they blamed Covid. If this was still an issue at the beginning of this week my guess is that we would have been given the same story. Has SMS dug his heels in about something or was he as surprised as we were yesterday afternoon? As I posted earlier, there was a 168,000 share transaction at 4.72 less than 2 minutes after the RNS came out, that I found very suspicious; was someone somewhere in the know ? If this is not resolved tomorrow many folks will have a torrid weekend, I offer this as food for thought and if you are still invested I hope you have looked at the risk/reward ratio. Good luck to all who still hold and let's hope this is just a storm in a tea cup.
Yesterday evening I noticed a late report of a share transaction for 168,000 shares actioned less than 2 minutes after the RNS was released: was this a sale ? It begs the question was someone waiting for that RNS ? Moreover, with such a huge transaction going through at that time it possibly caused folks to panic sell, almost the opposite of FOMO ! I am holding as there have been a number of insider buys at £5 + in the past 3 months or so. If we can not trust the management we should not be invested.
Very disappointing particularly following the recent SP progress. The only encouragement is that there seems to be a £3 million buy gone through very late and surely someone with that sort of money would wait for confirmation of any problems before investing so heavily. I am sure the results will be good as per SMS's words but it is what might be in the small print that might surprise!
The results date was changed to 31 Mar; see RNS for more info..
From CEO.CA
TD Wealth management buy rating
Price Alert
First Call Consensus Rating Change
Alert Sent 2022-02-14 01:01:02 AM ET
Pure Gold Mining Inc TSXV:PGM
Last Price 0.68
Today's Change (%) +0.06 (9.68%)
Bid / Lots 0.68 / 32
Ask / Lots 0.69 / 12
Open / Previous Close 0.61 / 0.62
Day's Range 0.61 - 0.73
52 Week Range 0.56 - 2.10
Alert Details
First Call Consensus has upgraded PGM from Hold to Buy on 2022-02-14 at 01:01:02 AM ET.
S H , I agree however my point was that PGM did spike with the increase in the POG. That is reassuring as we expect the POG to increase significantly over the next year or so. It would also be good to see the price rise with an improvement in performance which should be forthcoming in the months ahead.
Something we do not see often; Pure Gold up 14% in the States and 15% in Canada but I doubt it will last as the POG has spiked on the possibility of war in Ukraine.
Here is the latest interview with the new CEO:
https://youtu.be/-oORSqxI4as
It is very encouraging if one is prepared to hold throughout this year.
A good interview with the CFO who admitted that there had been leadership and operational problems but having recognised the problems rectification is under way. I do not expect the sp to rocket any time soon but I believe we will see a steady increase throughout this year as results and news flow start to improve. Once we see FCF in the kitty things should certainly look more promising.
Greg. We hope grades will improve, with PGM nothing is certain. As for POG we are heading for the 8 year cycle low which may happen late 2022 or later so do not expect too much unless there is a Black Swan event. I am deep in the red with PGM but Given enough time I hope we will see the price above £1 again.
I guess there is nothing in the way of good news coming this month. Resource update slipped back to next year; is there anything this bloke says that has come to fruition? He is either a mega bull****ter or a downright liar, he should be sacked.
I have been following S4 since the March 2020 crash and the SP was hovering above £1; progress has been outstanding. In July 2021 the sp was similar to today's price and in 2 months it was knocking on £9. Nothing major has changed within the company which is one of the few successful hi-tech companies in UK with a brilliant leader. Therefore, in my opinion the price will not be this low or lower for long so I doubt we will see £5 but I would not be surprised to see this back knocking on the £9 door in the next few months. I hold S4 and this is only my opinion not financial advice.