Member Info for shandypants2

It will definitely be late Jan/early Feb 2026 for payment - but agree a decent sum and completely overlooked by the market IMHO . £5m is essentially worth 1.3p per share extra.

Borrow - it was a long time ago, but i'm pretty sure the whisky DIS has been promised is a blend of a number of 'premium' barrels so don't think it will be a single malt offering.

The blended market highly populated with a number of big brands

Sis - in the recent presentation the CFO said he expected the payment to now be c£5.5m so a bit of a reduction, but still significant.

It was meant to be paid in two parts, but no mention of the 2024 amount (i suspect as only 6 month period it was quite low)

Incidentally the 2 months trading in 2025 looks very encouraging. £14.8m in just Jan and Feb would equate to over £88m for the entire year.

I suspect some of this will be due to the continued success of Balatro which will surely tail off a bit through 2025 but if we said £15m a quarter or £60m p.a that's still c double digit growth and hopefully a much higher % increase in profits.

Other things that could positively increase the SP are to look at things to do with the cash pile and/or maybe consider spinning off playstack as i suspect this is worth well in excess of £100m alone

Well his confidence is clearly not based on current trading, which is unfortunately dire.

No doubt the £3m investment in Argowan is the key for him - essentially buy shares in a company valued at c£800k to acquire assets in a distillery valued on paper at £3m.

I don't think the price will drop once DLG becomes ex div. This would normally be the case as the cash position has reduced by the divi and so in theory the company has 'lost' that value. However, as the SP is essentially now linked to the AV sp the DLG cash position is irrelevant

Non US revenues (so UK and Europe) are increasing slowly from a very low base. I suspect they will be c£2m for 2024. As STX has costs of c£3m a month it is clear the USA revenues are the key to whether the company will succeed or fail.

As has been mentioned Q1 numbers are key to see if progress/growth is continuing - Q4 revenues were up, but actual prescriptions were down so Q1 is a pivotal period IMHO.

Solar seems to be the big growth area so this makes perfect sense. EAAS's USP is surely that they can offer the full net zero package - LEDs, solar, charging points etc .

Hopefully H1 is going well as we need good numbers to correct the woeful SP. A 10p SP would value this at 'only' £38m and we could easily see £5m EBITDA in 2025

Great results and a really good start to 2025, however, terrible SP reaction. Clearly there is a big seller in the background as there was in Jan when the TU was released.

No need to panic value will come eventually.

Total Wealth - based on H1 they need a 10 fold increase in revenues to get to breakeven IMHO. With admin costs of over £1m in H1 they would need total revenues of over £2m to generate a £1m ish gross profit. H1 rev was £260k ish generating a gross profit of £110k.

Let's hope that hockey stick of growth will finally materialise

Agreed, more good news, albeit the contracts aren't massive.

For me the big news was the Govt announcing solar on schools and hospitals late last week. Firstly this is only 1% of buildings and also GB Energy is essentially a shell company so the work will need to be outsourced.

A massive market and EAAS are ideally positioned

https://www.gov.uk/government/news/great-british-energy-to-cut-bills-for-hospitals-and-schools

Good point Grav. All retailers are suffering at the moment but the most successful ones will come out of this stronger. Companies like Card, JD, Greggs and Wetherspoons are very successful retailers. Others with higher cost bases and less successful business models and/or USPs will suffer.

If money is tight would you spend £3 at Clintons or £1.29 at Card on a birthday card.

Hopefully the seller is out now and the SP can start climbing back to the high 300s as it was before the excellent results were published.

All metrics are up - revenues, profits and cash plus the dividend.

Furthermore 2025 looks promising with double digit growth anticipated supported by a solid order book and new contracts being won.

There is little not to like here

Results were published on 26th March last year so hopefully we will get them next week for 2024 results. Will be very impressive. With a decent 2025 outlook this could get back to 100p (hopefully!!)

The 'crash' has essentially reversed all the gains since Trump won the US election. Anyone who thought aligning with Trump would help Tesla must have been deluded as that was never going to happen, however, things like lower taxes and less regulations might benefit the market as a whole.

Tesla before this rise was always very highly priced. A PE of over 100 when sales were already flatlining and cheaper foreign alternatives were hitting the market was always too high. Even 50 would be a stretch.

Added to that Musk has now alienated most of his customer base which seems a massive own goal.

However, perhaps the biggest concern and the reason for the high price is that the potential of driverless cars seems to have reduced massively as trials have been pretty disappointing. Without this Tesla must be valued as just a car company and if so it is still ridiculously over priced.

Good news today as the business continues to grow. We need more of these.

2024 results were ok after a terrible H1 but were confused with a few exceptional items and adjustments. It is also a concern that the vast majority of the £25m received from the EMD sale have been spent/used, although £8m of this was to clear debt and therefore tidy up the balance sheet. I also think the communications regarding the additional EDM payments was badly managed - the £8m to £10m which we were told was reasonable and conservative is now estimated to be £5.5m and the 2024 payment which was due in early 2025 was ignored in the recent update (it is possible the amount is quite small as it only covers a 6 month period).

2025 looks to be a better year with increased revenues and hopefully PBT with cash increasing accordingly. Unfortunately thus far this hasn't had any positive impact on the SP. Furthermore all green/net zero companies seem to be suffering due to the US President.

If EAAS can achieve maybe £30m rev with say £5m EBITDA for 2025 then this is seriously undervalued. Additionally getting the c£5m extra sales payment in early in 2026 would be great and has clearly not been priced in.

I still think we should see a double digit share price in the next few years.

Why is there definitely no need to raise equity? Cash at 31/3/24 was £2.3m and on 30/9/24 is £1.4m that's quite a cash burn.

Not saying a placing is on the cards, but based on the numbers we've seen it surely can't be ruled out.

If you are basing this on CEO comments, i've seen many change their minds within weeks of such statements.

As has been mentioned he got over 6m shares valued at 17p for just 0.1p, so am immediate 'gain' of over £1m which is subject to normal PAYE tax.

Any gain from this point is subject to CGT.

As he earns well over £250k a year as CEO he will pay income tax at 45% and 3% NI. CGT is currently 24%.

He sold c£500k worth to cover the income tax due.

We've know he had these 'free' options for a few years. This was always going to happen. As has been mentioned it would be more of a concern if he had sold more/all of the shares.

So market cap of £55m after today's fall with c£10m in bank giving an EV of c£45m.

With operating profits of £4.8m, a good start to 2025 and double digit growth forecast this seems silly cheap.

The market will wake up eventually

How has Reeves targeted Greggs? If you mean the NI increase then it will effect every company. If she increased income tax for workers by say 1% to pay for extra defence spending is she targeting you directly? No she targeting c20m working people.

No one likes paying more tax, but it's got to come from somewhere, especially as the annual interest payment on the UK debt is over £100bn a year.