Member Info for TruroTrader

Hi Kinghomer, compared to some aim companies I think PYC is pretty good. They obviously highlight the beginning of contracts but apart from that it's a pretty humdrum company in that our work is with outside companies and so it's difficult to provide updates on progress - even if allowed.

They highlight shows and conferences but I don't think there's that much else to RNS about. Bit frustrating but they do what they can I reckon.

Again! We're where we were well over a year ago and without £160 Mill of contracts! Some 7 weeks to go to the year end. As the song says 'I'm hoping and praying'.

I do appreciate that at some point we should hit milestone payments but if the £140 Mill contact doesn't start in this financial year then not only will the markets possibly react badly but we may need another cash call!

Only 7 weeks to go folks!!

Surely if there If there is no inaugural dividend (and a token halfpence one would not reduce the cash that much) then we deserve an announcement about what the cash is intended for?

Well thought out bluerill. I doubt if John will take much notice. I have pointed out to him before that Sir Mark Lyall-Grant Is to big a figure in Law, Diplomacy and Politics to be involved in a scam. He actually joined Fox because of his arbitration expertise.

I think things are looking up and as far as I can tell we largely achieved the aims that the admission documentation stated. This bodes well for the future. As for the SP, all my holdings in AIM start-ups have had similar drops (very much ouch ouch!) However we do seem to be progressing so onwards and upwards.

Exactly right Dibs-I to think the update re trading will be the important bit for me.l

Fully agree nashwan - I posted re this on the 12th of Jan. As I said even a token would do but with £7 Mill in cash there's no reason really why it can't be done.

Hi Bullwinkle, Crashcat and Hardboy.

Thanks for the excellent posts. I did think that the UKEF arrangement was ready to rock but I didn't allow for further admin but I suppose they do seem to make certain things are as the original agreement stated.

I guess the size of the contract is in fact a problem. If it had come after say 2 or 3 smaller ones then the lumpiness of the milestone payments would have been smoothed out. I've been here some 8 years now and have always had confidence in the way things have been progressed and improved.

My only puzzlement is Ocean Infinity. It seems dynamic and has a feel not unlike SRT. I know undersee cable and pipelines are of course extremely vulnerable and protection is important. I can see our growing customer base being useful to Ocean Infinity but the only advantage to SRT as far as I can see is is if we act as an introducer or indeed as a sales arm?

Oh well, time will tell all I expect. Onwards and upwards!

I did think thst thr EKEF

Hi Crashcat and Bullwinkle,

Thanks for the posts

And almost every Day! Not to sure what's happening , You'd think Infinity Ocean and other major shareholders would have had some sort of update. Although ST's Webcast gave us a run down there was no real heads up on the big contract, he didn't say how the delivery of it was actually going.

I'm wondering if the size of it has contributed to a delay. We need the first Milestone to come in before March end if we are going to hit our revenue forecasts. I'm not exactly in full panic mode but in spite of my confidence in SRT (both the man and the company) I am beginning to get a little concerned. Hopefully there's nothing serious - just a bit of market nerves showing. Onwards and upwards?

My words were the website seems rather s p a r s e!

seems fairly positive to me. would like more info though. website is rather sp**** and very little news comes out. it is of course early days so hopefully that will change. the comment about fox stabilising was interesting. we've heard nothing for a long time.

Excellent RNS and a favourable SP reaction. I must admit the slow SP decline was a bit of a concern. ST's webcasts often result in a positive boost - here's hoping for a repeat!

The growth of both is pretty impressive. From Dec '19 to Dec 21 we doubled our Revenue and by Dec 22 we had almost trebled Dec '19. Profits doubled between '21 and '22.

This is a cash generative company and I see no reason for '23 not to be comparable. A maiden dividend is always good news!

I've said before that a Divi, even a token one, would open us up to both II's and PI's who only invest in dividend paying companies. A third year of profits could well be the deciding factor and a Divi would clearly demonstrate the BoD's confidence

The best nobhead has is that the timing of the move from the Gulf to the Balkans went back! Any company with a major project will get unexpected delays. It's to be expected.

What a wally!

I must say nobs has some odd stances. He firmly believes CG is on the BOD and also owns the company!! He doesn't acknowledge the fact that CG has protected the rights of previous Fox shareholders re the arbitration proceedings.

Basically ECOB has delivered on the Admission Documents. And so far that's it. Can't quite see what his problem is?

Now if he was really in the know he could let us know about the Director suspension. Which incidentally has not yet affected the SP and that surprises me. Oh well - time will tell. My bellwether here is Sir Mark Lyall-Grant. He's far to big a fish to be involved if there were any skulduggery or incompetence.

Positive result. £10 Mill should see us to a milestone payment. Looking forward to Simon's next webcast say mid/late Jan or so.

Hi Bull38, I think your view re Simon not having a clue in delivering on the order book re-writes history. He has previously delivered 4 Marine Domain contracts. All have been on time and all have come back for repeat business.

When this £140 Mill contract was announced I did think it was a massive step. The initial milestone payment is dependant on the control room kit delivered and to be up and running and in this case there's an awful lot of it! I thought it might be a close run thing and so it is proved. Yes more could have been raised earlier but it might not have been needed.

You say that to get £70 Mill from from next to nothing is a major task. But I don't think £30 Mill last year is next to nothing! I see it this way. We've 3 months to get the first milestone payment on the new contract which will be around half of that £70 Mill. Add in a smaller milestone from another contract. Add in transceiver revenue which last year was £12.5 Mill and is expected to increase and your country mile is shortening. Our new product Nexus is about to launch and the ordering of this may well have contributed to the need for funds.

The timing of the big contract was unfortunate and a couple of smaller ones would have been more manageable. In addition the timing of launch of Nexus was unfortunate. This was caused by the inevitable project setbacks that you mentioned.

All in all I'm a pretty happy bunny!!

PS HI sam4224 - perhaps my view is different from yours but it is factual.

All in all pretty much as the Admission Docs outlined. Just need a pay-out from the arbitration case and all is right with the world!!

While I agree about a lack of info from ECOB - can you direct me to the promises about new contracts please as I don't recall them.

I would have thought that SRT's customers would decide that. We provide the surveillance and monitor the situation and the customer decides how they respond to any given situation.

Not really - But we are able to track them