Member Info for Thorpedo

@Brand the movement to the MB is part of the Cascade deal. I believe that this is their exit route, by offering their shares opening up liquidity as part of the step up to MB. Therefore they are expecting SP to be well ahead of 11.3p by then. I would expect it to be way ahead of 11,3p when Cascade put in their next $2 in less than 4 months.

There's not been many sells since he went AWOL so he must still be in. There havent been many sells in June at all. Everyone knows there are now only 9 days (max) left until news.

Very True Stefan it was under valued.

I came across http://www.servision.su/ for the first time, I didnt know SEV had a Russian site before, nor have I heard Russia mentioned in dispatches.

I am surprised that the MMs didnt try to drop the SP with todays £91 sale. :)

Brand, yes the systems can be purchased on a supply only, I presumed (possibly incorrectly) that as sales were missed despite pre-payments being received because of the install rather than not supplying them in time.

I think that there will at least be a great current/forward looking statement on 30th, otherwise what was yesterdays RNS about 2 weeks before the results. I would prefer notification of a huge contract win. I am sure that it will come soon, if that is the 30th I am not sure.

Does any one know the lead times from order placed to being supplied and fitted? We now know that they must be supplied and fitted to be included in the accounts so GT must be confident of them being supplied and fitted in 2017 as it is the 2017 accounts we are going to the Main Board on.

With a further $2m coming in 4 months. what will that be used for? Working Capital or something else?

I didnt originally reply to Ahmir because of mr ****. I dont care what he says, I am happy with my investment and now await the good news which I am sure is imminent.

Sev prepare their accounts using the International Financial Reporting Standards, and their income recognition policy for sale of systems is "Revenues from system sales are recognised upon delivery of the system or upon installation at the customer site" So I am happy that the sales have slipped in to 2017. However, associated costs of those sales need to be on the balance sheet as WIP or Stock and released in the P&L in 2017 also. The costs spent cannot be in 2016.

Ahmir, being a bean counter myself, the answer is that what the RNS stated cannot happen under UK GAAP. The costs have to matched with the sales in the same accounting period. So you would either bring the sales or part of the sale in to 2016 or defer the cost. A simple example of this is stock, if I buy £100 of goods and dont sell any by the period end then £Nil is shown as COS. They go on the balance sheet and are released from the balance sheet to the P&L as and when they are sold. I cannot see that an auditor would allow the costs of the goods to be in 2016 and the sales in 2017. The cut off is an important part of the audit process.

Why do I feel happier with what the MMs have interpreted as a bad RNS. Perhaps because it allowed me to have a top up at a very low level or perhaps I feel that the bad news that we knew was coming has come so now we are just looking forward to the good news which we expect.

I think that this share is becoming more and more illiquid, and the taps wont even drip until double figures. Whilst not a lot my 41K today wont be coming out again until at least double figures.

Pretty standard practice of holding back the bad news until last minute dont want to worry customers and suppliers. Bad 2016 accounts published on 30 June can be overturned by great Interim accounts published by the end of July. Therefore bad results only showing for less than 1 month. Why inform the market of the bad results now? 15 days before they need to. Perhaps the ink is drying on a major contract so it is to late to worry a new buyer, mind you Cascade money should have put any buyers mind at rest.

No just £1,500 at I am already well invested, I am confused why it isnt showing on L2.

Money came through quicker than normal so managed to add more at 3.57, didnt expect to be able to do that.

That is not a trading statement, trading statements are current/forward looking, that is talking about 2016. What we have here is statement to get all of the bad news out of the way. It does also tell us that 2017 is going to be great because all of those December 2016 sales arent 2016 sales but 2017 sales.

I am trying to transfer funds in to my accounts so I can buy more at these prices, but even in this day it takes an hour or two for the money to hit my trading account. I think that this will end up level today as it is the MMs who dropped the price not the trading. A few trades and it will be back to 4p.