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rylidan - lets be clear, the company repaid the final $60k of a $110k short term loan. There is still a $250,000 loan plus 10% interest outstanding from January which was "scheduled to be repaid over the coming months"... this was back in November. Since then the terms of the loan have been extended. Presumably because the company cannot afford to repay it right now. So if they do break even it's because the company has delayed repaying a Director Loan. In other words they have fiddled the accounts and delayed the repayment of a current liability. It won't show on the profit/loss balance sheet until whenever it becomes due. The 500k profit you are forecasting next year will be hit by the repayment of the loan therefore.

£1.3bn value. Loss making. Net Assets of £102m.

The HCM charts are similar to so many large caps, peaking in late Autumn 2015. Forget the fundamentals for one second and take a look at the wider market. HCM has risen from around 270 to more than 2700 in the past 3-4 years. Much of what you said concerning revenue will already be factored in. If the global markets begin to move up collectively then perceived risk here will lessen and the stock will rebound. My money is on further market weakness, continued profit taking and sideways movement in the coming year. This stock has been shunned by investors having fallen from around 2750 to nearly 1850 today. That is not a stock being 'closely held'. True enough small-caps can be manipulated by private investors acting cohesively, but you would be kidding yourself if you didn't think the institutional investors did likewise. They have much greater capacity to short sell a stock and generally move ahead of the crowd. HCM's balance sheet has strengthened, I haven't checked as far back as 10 years but certainly over the last 3-4. But then so has it's share price. Does not the current price more than factor this in? If I were an investor looking to park my cash I would be concerned about the current market value.

HCM and ASOS are old news, the former having peaked and is currently being shunned by investors across the board., the latter topping out with little momentum or catalysts that might propel to new highs. TEL I wouldn't touch. AIM small-caps with earnings growth and a strengthening balance sheet valued at less than £100m are the places to invest in. Indeed as is often the case the smaller the market value, the less exposure the stock receives. The time to invest is before stocks become well known, before the institutions load up. In some cases the best buys are the beaten down stocks which are turning a corner with regards positive net cash-flow, moving from net debt to net cash position, growing sales to reduce the administration cost breakdown and generally those stocks which have the capacity to pay dividends or perform share buy-backs in the near future. http://money.aol.co.uk/2016/03/15/could-aim-stars-asos-plc-telit-communications-plc-and-hutchison-china-meditech-limited-fund-your-retirement/

Charts and analysis of MBO going back to 2008 - healthy outlook with FY15 results due in June and then the HY16 results out in September. http://shareminator.blogspot.com/2016/03/with-malaysian-ringgit-clawing-back.html

Good to hear your thoughts on this. If that is the case then might it not be prudent to exit with any profit at this stage. I can't see a reason to buy and if that's what others are thinking too the share price will likely trickle lower until the next lot of bottom feeders grab some.

*lost

They lossed £410k over 6 months according to the HY update and had very little cash remaining. Net asset position was still negative with huge liabilities remaining and although that was improved from 6 months previous, the company appear to be trading on very thin cash reserves

90p touched this morning

Net assets fall marginally, large chunk of debt repaid. An exceptional item totaling £1.7m hit profits but won't effect the next set of annual results. Looks good value again this morning. "As a result of the improved results of the business in 2015, the earn-out element in the acquisition of Madrox has increased by an estimated £1.7m and this has been treated as an exceptional cost in the 2015 financial statements. This final element is due to be paid in April 2016 and brings the total estimated earn-out to £4.2m which would bring the total consideration to £14.7m."

Investors offloading at 162 this morning. Results don't look too shabby at first glance

Yes IF there is a catalyst. You and me both know the company will not be turning a profit this year unless they announce some major new contracts. There is little confidence here now with sells below 2p and the someone disposing for 1.665 It's looking bleak with an ominous placing to come at these lows. rekoplee and whoever recommended your little snipe - I hope you swallowed your pride and sold. But judging by your immature response to the analysis presented I guess you didn't

STL have achieved fantastic growth last year and the share price has reflected this. The cash position is up by £229,000 in the year. Not a significant amount but scope for growth suggests the potential for larger increases in the coming years. Cash - £1,318,000 as at 31 December 2015 (2014: £1,089,000) Total sales revenues was £1,517,000 whilst costs were £1,250,000 Todays notification that Brewin are holding more than 13% is another boost of confidence for shareholders. This has risen by over 100% in the year to date already so I'd be cautious about buying now simply for the 0.05 (1%) dividend. It's a token gift not really anything meaningful. I'd be concerned about the lack of cash growth given the excellent achievements bringing so many well known names on board in the past year. Will admin costs fall from here? I'm not so sure they will - "we continue to invest significantly in the continuing development of AuthorBridge as we look to address the requirements of the wider market" and " In 2016 we will be making additional investments in the recruitment of development personnel" This is still in the very early stages of company development and not to knock anything the company are doing, rather the share price has gotten ahead of itself. Discounting the enormous post-dividend cash-pile, the company made £260k pre tax profit. It's £6.2 million valuation is too high on a simple earnings ratio. Take their assets vs liabilities they have £1.66 million attributed to goodwill which means diddly squat. It's trade and other receivables is down by £69k whilst the trade and other payables is up by £21k. That's a 90k swing to the red which makes the £229k cash gain sound not so significant upon further reflection. STL is a growth story though, expanding with niche products and with no shortage of cash it shouldn't flounder for too long if indeed it does. There just isn't a great deal in the way of hard assets behind this company valuation. The cash is equivalent to 1.2p thereabouts.

Been saying this for a while now, we are in a turnaround phase. USD losing value with the economy flagging and rate rises pushed back. Oil prices creeping back and with Malaysia's political situation now becoming more apparent, it's not such a bad bet after all. The executive chairman of Templeton Emerging Markets Groupe has come out and said the Malaysian ringgit is undervalued by 28%. This is an exciting sector to be in and perfectly placed to benefit from FX gains in the coming year in my view. http://www.businesstimes.com.sg/government-economy/mobius-says-malaysian-ringgit-is-undervalued-by-28 Mr Mobius said emerging markets are at a "turning point", and listed Brazil, Vietnam and Malaysia among his favourite emerging market investment destinations. Currencies in Southeast Asian economies came under increased pressure last year amid a global slump in prices and a slowdown in China. The MSCI index of Southeast Asia, a benchmark of the region's biggest stocks, plunged about 20 per cent last year, driven in part by these factors which brought down valuations down to 2009 lows. Malaysia's economy grew 5 per cent in 2015, slowing from 6 per cent in 2014 but within the government's 4.5-5.5 per cent estimate. The ringgit took a hit from sustained weakness in global oil and commodity prices last year, and continues to face risks from Malaysia's diminishing surplus, which narrowed to 5.39 billion ringgit (S$1.81 billion) in January trade. Beyond Malaysia, he said while growth is decelerating in China, Mr Mobius said it remains "an enormous growth story" with a significant increase in the economy's dollar value over the past two years when growth was at 7 per cent, compared with when it grew at 10 per cent in 2010. Mr Mobius said India is also growing at a "very nice rate" with increasing foreign reserves, that along with the Indian rupee, have been managed well by the country's central bank.

Nice entry here bud, saw this tipped last week but didn't get round to researching it fully. Are you expecting further announcements in the short term?

Impressive results and some valuable discussion today as well. Safe as houses this one and on growing cash pile at a considerable pace compared to market cap. The dividend was never really on the cards at this junction but the option is now available as are share buy backs which I believe would be a better use of cash given the nature of revenue generation. Tie up some of that cash by repurchasing shares back to the company improving earnings. If there is a weaker period of trading and the company need to access capital they could aways release (sell) the shares back to the market. Seen it work well before on SVCA.

Sounds like a placing given the mention of 'at or around this price' or words to that effect. Ofcourse who is going to lend to a company with little revenue stream to speak of that is hemorrhaging cash every month? Destined for lower lows later this year

Looks like a good turnaround with PPIX logging their first full year of positive net income since 1994, five consecutive half-yearly periods of positive EBITDA and three consecutive half-yearly periods of positive operating income. Volumes are still thin but back to 2p on light trading (some behind the scenes). With a market cap of £1.88m it's one to keep track of in the coming years. Financial Highlights · Net Income of $0.3 million (2014: net loss $1.3 million) · EBITDA profit doubled to $1.2 million (2014: $0.6 million) · Operating income increased substantially to $0.8 million (2014: $0.1 million) · Gross profit margin improved to 41.4% (2014: 39.1%) · Revenue decreased 12.3% to $14.4 million (2014: $16.4 million) impacted by foreign currency exchange rate · Percentage revenue by geography: 47% Europe, 41% North America and 12% Rest of World · Available borrowing capacity of $2.0 million from its loan facilities at December 31, 2015 The Company achieved an operating profit of $0.8 million and EBITDA of $1.2 million. These factors contributed to ProPhotonix's financial improvement and positive net income of $0.3 million (2014: net loss $1.3 million). The balance sheet also continued to improve in 2015. Term debt declined $750,000 to $1,474,000 as at 31 December 2015, which is the lowest outstanding balance in more than a decade. ProPhotonix begins 2016 in a strong position, having received production orders from the three customers who have signed three year supply agreements during 2015. We have also progressed our UV product family to include the COBRA Cure FX1, an innovative UV LED Curing system, which we recently announced. Recent booking trends, the macroeconomic environment and foreign exchange rate impacts cause us to be cautious for the first half of 2016, but we remain very positive about our business pipeline and confident in our ability to achieve continued positive momentum toward our profitability objectives.

Destined for the scrap heap.

I would have thought there would be more profit taking and general weakness considering RCI's performance recently but support holding for now. Looking for a lower entry. Doesn't seem to be much discussion on here or elsewhere concerning the deal with Alicloud and the rate at which they can increase new revenue streams. There is still the risk of a private placing which wouldn't be terrible at current levels, especially if it comes at a premium like the last one. One to watch. 50% retrace to 24-25p support target but expect there is too much interest around now for it to fall to that level unless there is dilution.