Member Info for TruroTrader

Hi Nobby,

The info I read from ECOB concerned moving existing kit from the middle east to the Balkans to start production for existing contracts. There will possible be some new equipment but the emphasis was on the movement of old kit.

I can't see Lyall-Grant getting on the board of any company that is suspect - he is far to much of a heavyweight and an extremely prominent VIP. Read his profile on the ECOB website if your not convinced.

Hi John,

Some of your points are valid. However the suspension was because of regulatory issues with the auditors.

The lack of news is partly due to the fact that the original plan, as in the admission documents, has actually happened. There was a bit of a delay perhaps but that is par for the course on big projects and for ECOB this was a big project. This was a positive step and was ignored by the pessimists. The photos of the production line released a month or so ago looked pretty good to me.

As for CG; he is not involved in the day to day running of ECOB so there seems little point in continuing to denigrate him. I am pleased that he arranged for former shareholders to benefit from any arbitration proceeds. This of course will benefit him but also me and presumably you.

You mentioned hype in your email - but ECOB doesn't do hype and it's not doing updates either! Like you I would welcome some news on progress now that we should be in production. I would also appreciate an improved website. They both may improve the SP!

Nobby has no answer.

Hi Nobby

If foxy talks @#£% why do you engage with him?

Simon announced at the Sept AGM that we were working on total contract value of £160 Mill. This was the big contract announced in May and the tail end of a previous contract.

If we've had milestone payments on both then that's some 70 Mill say which will make our year end pretty damn good. I'd also like to know when Nexus will actually launch as this should give the transceiver business a real boost.

The October update was fairly short. I do appreciate that the events I refer to will actually happen - but it would be wonderful if we could be told!

Not to sure really. Every thing about HDD is slow. Airbus actually took 13 years. I think we have room, at both sites, for 4/5 more reactors. As they take a year to produce capacity will take say 2 years minimum. Although this is sufficient to put us in good profit it will not make megabucks.

We will actually need new premises and new reactors to achieve significant profits. Say 4/6 years away and using all our profits to boot! In addition, although we are continuing to register Patents our earlier ones will start expiring soon.

I've been here 17 years now and the race between dividends and the cemetery is getting harder and harder to predict!!!

I'm not to certain what people expected - after all this is confirmation that the info in the RTO documentation has largely been achieved. Poor stone sales though but otherwise as expected.

Compared to some of the truly negative view points expressed here this is quite heartening!

My only concern is that the contracts have enough margin in them. Inflation has rocketed since they were signed. I note that we are now in a lower cost environment so perhaps that will help.

The registered address is the address registered to receive formal documentation. Often it's the accountants address. It's often nothing to do with the admin/production address and indeed you can use firms that rent them out.

Exactly right Adastra ,

If we run at full capacity then we should, I think, break into profit. Any new reactors will only add to that. However new premises and reactors will take time and money. I believe that HDD will be a slow grower but with a USP such as ours it has tremendous potential. One for the grandkids perhaps!

Hi JJLH,

Yes I too was disappointed by the 3 % aerospace revenue. We started testing some 14 years ago! Both sights have space for new reactors possible 4/5 in total depending on the size chosen. New reactors take about a year or so to deliver. I think they deliver about £1.5 Mill revenue per each.

For me the real trigger will be the hunt for new premises as I don't think the current ones can be expanded. However an announcement about purchasing new reactors will be welcome for now!

Hi wishing,

Yes and the Software is delivered in the first couple of milestones. I think the market's caution in the SP is to do with SRT's ability to actually manage the delivery of this large contract in a timely manner. My impression from the AGM was that the first few months since the contract was signed have been taken up by setting up the whole of the contract delivery.

I personally believe that SRT will be able to deliver on time. I think this means that this financial year will see the start of multiple milestones as more contracts are signed. I think that the current contract is big enough to see us through both this and the next financial years anyway. Bear in mind that the transponder business is now in a very strong position to raise it's revenue over the next two financial years with the help of Nexus, plus of course organic growth which is rising even as we speak.

We have some 20 Mill to come this year as the other contract we have is finalising so I can see this is going to be far and away a record year. Looking forward to Simon's next webcast possible in December when all will be revealed!!!

The registered address is not necessarily anything to do with the company headquarters itself. It is an address that the company has said that papers can be served to. It maybe their Accountant has moved offices? No big deal.

Hi extrader. My post was actually on the 16th of August which I forgot to mention. Not to sure about ECOB - haven't posted there for many a moon - to much negativity for me - mind you it could be valid!

Hi extrader. My post was actually on the 16th of August which I forgot to mention. Not to sure about ECOB - haven't posted there for many a moon - to much negativity for me - mind you it could be valid!

Hi amoti_fati

I briefly explain how the sales cycle works in my post of the 16th. If the UK appropriate government bodies approached SRT I'm sure they would be welcome. But, as I said, they come to us.

The reason is that we don't have the resources to cold call. Our resources are concentrated on those customers that we judge, after discussions, to be eventual purchases. It's not the standard business model but then we don't have a standard product!

Can't say I disagree Hardboy! I also met extrader who was also positive and a LTH. I said to several people " Can't quite see what can go wrong now" and neither could anybody else I said it to! All agreed we were poised for success. There was a round of applause at the end of the meeting.

Soft launch of Nexus soon and 50 organisations around the world, including the RNLI, are going to be given a Nexus for testing. The idea is that it will be used in various testing conditions by demanding people. Makes sense to me. Onwards and upwards folks

The AGM will not be broadcast (difficult to do properly apparently) hence the webcast. Shame about the SP but the outlook is very promising. I too will be at the AGM. Might meet?

Hardboy,

In the past the SP has often had a few pence rise following the webcast. My guess is that both the webcast and the AGM will be good news and a good chance of an associated rise!

Not to sure why the webcast is just a couple of days before the AGM though? The AGM is usually filmed and broadcast anyway.

Monty,

Don't think you've quite taken in the value of the recent contracts in relation to our past. The VSP is now really starting to build. It's been a long old haul. This financial year should see the breakthrough into profits.

The star of the show is the Marine Domain contracts but the transponder business is also making strong growth now. Last (and also Least!) Data sales should become meaningful in the next financial year.

Our costs are largely fixed with the main exception being wages. It won't surprise me that in the next 3/5 years the transponder and Data business's will actually provide the revenue and profits to run the business on their own.

The recent contract news was great but I think the lack of numbers has held the SP back a bit. Hopefully we get the yearly update at the end of September and for me the interest will lie in the 1st quarter update. This could show a solid start to the year and perhaps provide figures for a record start to the year ahead. If so then a more sustainable SP rise could be on the cards. I can but dream!