Member Info for skid35

Yes, although still underwater (averaged down to 29p) I am in no real hurry now to see a large movement in a short time frame.
Two nice small rns s with good potential.
Considering this has absolutely no coverage in the press / on boards except what appears to be a small band of followers here happy this has not climbed quickly.

Aquae. I hope this isn't the case but every product being profitable does not mean the company is profitable, it depends on whether they charge hq costs to products, does this include depreciation of product development etc. The mix up in communication earlier where they mixed up sale of skin bio shares as revenue wasn't great.

Wool, of course purely an opinion. Like yourself underwater with a c 60p buy price.
I think the results will prove a watershed for the company where it backs up the business model from a commercial perspective - the share price still shows scepticism that this is the case. What would push it even higher would be a forecast for 2021, I believe this will not happen or will be very low balled / sketchy.
As you have correctly stated aim is a bit of a circus, moving up and down on little share volume and write ups in magazines and rampers on websites. To be frank as well a lot of the companies are based on bluster and poor business models, and exist to pay high salaries.
I am a long term shareholder here, I can see this as a traders share with the share price m ovements.
Unsure how many on the board are short term traders (absolutely no criticism here), or longer term.still
As with everything in life time will tell, but I believe this is a great opportunity. Would be good have this conversation next year to see where we both are.

They should provide an accurate trading update well before the full audited numbers.
I agree with the headcount increase and trust management to make the right calls here, even if it does impact profit in the short term. With so few on the payroll I can imagine the directors all doing part of this role, badly, at the moment. Hopefully they are freed up from the operational stuff to focus on sales.
Agree the macro economic environment will impact, but the recent interview with Neil Davison was positive as he could hardly contain himself.
Wool, end jan early Feb I would expect you to be in profit.

Nice write up today in shares magazine

Dallo, please tell us when your doing this, want a bottle of Chablis well chilled ready to open.

Yes, holding on. As surprised has said I hope the current valuation has the bad news built in so a lot of upside as the company has so much potential.

I have been a holder for about 2/3 years with 61.5k shares at an average 21p so a slight loss at the moment.
As a longer term shareholder the PR has been great, delivery of what they promised non existent. A simple rns, a statutory statement from the directors under stock exchange rules, from the company stating what they have told IC through the backdoor would be gratefully received.

Surprised.
Just putting over other arguments which potential new shareholders should be aware of, despite all the pr on technology the share price has not performed based on very poor financial performance.
It would be be stupid to brush all the red flags under the bed.
I C have been cheerleaders for at least two / three years and a few months ago when the share price were in the twenties were taking this up to the mid thirties.
Agree I hope the bad news is baked into the price and it is upward from here, as with everything in life time will tell.
Still awaiting an rns / trading statement from the company to confirm what they are telling IC has actually happened.

Dj, same here added this morning.
Outside my investment trusts now the largest individual share in my sipp.
Agree with aqua, patience required here but hopefully for just until a trading update early jan to take this nearer £1. Anyway a long term holder here for at least a further two years.

Surprised.

With the historic issues with Kromek with systemic failures in commercial and financial control resulting in an unprecedented accounting treatment, agreed I am taking a very pessimistic view but based on their past performance.
I am not sure most shareholders understand just how amazing the accounting treatment is for this one contract which wipes out a years revenue, but more important whether this shows a general acceptance of very, very high levels of contract risk without the controls, process and management in place to control this risk.

I would point to a number of issues here.
- They have not made it clear there will be no need to tap shareholders for cash, this is a strong infererence but not 100% clear.
- As we have seen contract and cash management is not Kromeks strength, "revenue" and "stock delivery" does not equal cash or even invoicing - we have no real idea of the exact payment terms of these contracts. As these contracts are under the old CFO and "in house counsel" I can assume these are not great from a working capital perspective, the company spending cash months or years before they see the cash inflow.
- The absolute desperation for cash can be seen in the notes to the accounts with the early discount payment changing the original terms and conditions. This is £0.7m but with absolutely no transparency of the % this represents but I expect it to be substantial.
- Would advice investors to read the going concern notes in the annual report, these are usually fairly plain but are interesting in Kromeks case. Reading between the lines also watch for impairment issues on capitalised developments which may change the dynamics around banking covenants.
- In the 6-9 months to the annual report the share price fell with no real news, I assume some updates to key investors / brokers on their operational issues which were not widely communicated. As no share price changes now assume no change in these issues communicated in the background.
- The banking covenants in £ terms are not that big and were already 60% utilised 8-9 months ago with no update.

Unless we have further communication everything is very, very opaque. A lot of medium - long term upside, but the proactive talks with Arnab on world leading technology etc etc don't mean anything if they cant do the basics of running a company within financial parameters in the near term.
As I say hoping for an rns providing an update on their cash / financial position, until this appears the share price will remain where it is.

May be looking at this with the benefit of hindsight.
On the plus side they are still building order books and underlying business, on the negative side when it was mid twenties we were not aware of the complete lack of commercial / financial management of contracts.
I think the current risk in the share price is a cash call if working capital continues to be compromised by the problem contract - to get it away they would have to discount it so deeply to take the share price down as well as the underlying collapse in the confidence in the board.
Sincerely hope we have a clean bill of health and cash flowing from this contract shortly. Of all the shares I have probably has the greatest upside and downside.

A bit short with little detail, sounded optimistic though

Bloody hell, two buys!

Awaiting the new cfo s clean bill of health, at the moment radio silence. The share price will not move until this happens - massive opportunity or massive risk depending on how this news flows.

Bbr. Based on anything concrete or just hope?
Probably the company with the fewest rns s and corporate communications out there - but I assume of you have nothing to say....

With the CEO going and clearly having the successor lined up appears to be moving forward.
As shareholders I believe we should have more communication from the board, four months is simply unacceptable.

Not really business related.
Some nice photos in the cycling social media of hugh carthy (3rd in the tour of spain) in full sis kit from about 10-11 years ago.

Over three months from suspension, and they must have been talking for at least a further month before then.
When suspended I thought they must have had an outline of a deal including a very tight price range. Clearly not the case.

I am at 131k shares.
One of the few "risk" shares in a diverse portfolio mainly of investment trusts.A medium / long term holding and not one I am selling for a small g ain.
I hope most o f us are in this for the medium term at least, mm s will have a job getting hold of stock of this goes up rapidly with a lot of holders holding tight.

Surprised,
I think you misunderstand, I like this company as it has fantastic potential - which is why I invested and have added to my holding over a period of time including the rights issue. Not in the money but not too much of a loss at present and will continue to hold hopefully after this gets to breakeven. As I and you have said I think the risk / reward supports the share price.
As I say I'll wait to the new cfo looks at the contracts they have in backlog, and the large contract is performing back on track.

Surprised.
Upset that the company has signed very high risk deals where they either did not know they were high risk through poor control and process, or knew and took the risk anyway through poor judgement. This really is basic stuff, getting into a contract which requires massive working capital outflows, poor enforceability of cash and invoicing milestones with customers you are aware do not have the balance sheet to support the contract.
EIther way it's correct the cfo is out the door. I'll wait until the new cfo has had contract and balance sheet reviews before adding to my holding, a new cfo always likes to be totally pessimistic so a) he can blame the old bloke b) not have to come out again with more bad news and look like a pillock.
A while ago a poster on the board said this was a company ran by academics with a requirement for real commercial \ financial nous - as we stand this has been proved correct.
Sincerely hope the next rns \ interim show this is not the case - at the moment it is correctly valued based on the companies history of poor commercial and financial management. Take care talking this this up before then.