TheDrewster
22 Aug 2016
Blue Sky Did anyone else read it and think "hmmmm" ...[link]
Anchises
19 Aug 2016
Re: Food for thought Yes......and perhaps that would be no bad thing if it finally, once and for all, draws a line under the egregious erosion of shareholder value we've seen in recent years! I still can't quite believe we disposed of Sensium for only about a third of what we spent on healthcare R&D aIone last year, not to mention the millions that preceded it in years gone by, but enough has been written on that sorry topic already. It will likely push the deficit on retained earnings above £100m which will continue to serve as a reminder of the Sensium debacle. One way for the BoD to address this would be to obtain High Court sanction to cancel the share premium account and transfer it to reserves, which would roughly wipe out the deficit.
TheDrewster
19 Aug 2016
Re: Food for thought ... add in (potentially) an opportunity to hide any other lurking nasties, and the "exceptionals" this year is a real opportunity for them to make next year look even better still.
Anchises
18 Aug 2016
Re: Food for thought With £12m net assets in the healthcare segment as at the end of 2015 compared with £1.3m sale proceeds, there is indeed every reason to expect the exceptionals to be significant!
TheDrewster
18 Aug 2016
Re: Food for thought Indeed, I was (intentionally) grossly over simplifying.I anticipate 'significant' exceptionals to write off and wind down Sensium involvement personally.The fact remains, the board repeatedly confirmed that they were on target for cashflow positive around now, and Sensium was consuming £700k/month, so there are plausible reasons to be slightly more optimistic if the board deliver on their promises.
Anchises
17 Aug 2016
Re: Food for thought Drewster,The 2015 loss from continuing operations was £16.3m, comprising £7.3m from Healthcare, £7.2m from Digital Audio and £1.9m from Group. My take on what Digital Audio may produce for the full 2016 year is as follows. Assuming no repeat of the exceptionals (£1.1m) or impairment charges (£3.3m) seen in 2015, the £7.2m loss becomes a £3.1m loss. R&D in the first half fell to £2.6m from £4.7m so a corresponding percentage reduction in 2H would give £1.5m or £4.1m for the full year, a reduction of £3.3m from last year's £7.4m. Add that back to the £3.1m loss noted above gives a profit of £0.2m. Finally adding back depreciation of £0.4m (we're talking EBITDA here, not actual profit) gives £0.6m, so I can see the Digital Audio division (not the company as a whole) being cash generative this year. What we don't know is how large the group charges will be (almost £2m last year) or the costs of the Sensium review. Presumably the advisors who took a year to recommend disposal for £1m, assuming their advice was followed, did not come cheap! I suspect it is these imponderables that are inhibiting an improvement in the share price.
silver doller
17 Aug 2016
Re: Food for thought HiI agree with you entirely so I am buying on the dips as is like buying moneyHere is to the future Rega
TheDrewster
17 Aug 2016
Food for thought Sensium, or so it has been suggested, was "costing" the company £700k/month - now it's not.The group was supposed to be cashflow positive mid 2016 WITH Sensium.So you could argue that in the new streamlined configuration, we now have a turnover of £30m+ and free cash generation of c.£8m... and connected audio (and IOT) is now the blue sky potential.Does anyone actually believe that? The market clearly doesn't.
divvent argie
05 Aug 2016
Re: Today's rise? Selling pressure would suppress the sp which is of no interest to those who may wish to exit. Perhaps they may take the view that the sp will rise if they stay put thus enabling them to exit more slowly and profitably. I don't know and I doubt they read this bb for others views but maybe they might want more of their money back by being patient. Time will tell as always.
Mr Google
04 Aug 2016
Re: Today's rise? I would expect the SP to move sideways. Luc Van Schil will want to exit his stake and any other institutional shareholders that might want to get out due to the change in nature of business.
divvent argie
04 Aug 2016
Re: Today's rise? Upswing continues. Have been lots of positives from charts in last 3 weeks. Sensium and financial drag gone. Maybe the market is waking up to us. Chart suggests 2.38 short term an 4.0 long term.
trader jack
03 Aug 2016
Today's rise? According to googlr finance currently up over 23percent at 2.32p.Somebody must be buying big!TJ
divvent argie
29 Jul 2016
RNS Well the departure of CT is no surprise and it does mean we reduce our costs. With Sensium gone there was no need for him to stay so thats a line drawn under that. Now we need to see the board point us in a more profitable direction.
trader jack
25 Jul 2016
Re: Major shareholders But has Luc van Achil got what he wanted?He bought what over 97 million shares early this year, I doubt very much that he would be able to sell up and show a profit of any sort.in fact he could lose between £500,000 and £1,000,000 on his holding give the price today and a guesstimate of what he would have had to pay to purchase the shares.I may be over cynical but when have directors of any company put the ordinary and smaller shareholder interests before their own? If as you say Sensium has cost TMZ somewhere in the region of £40 million that will be a problem for the smaller shareholders not thye BoD.TJ
Mr Google
24 Jul 2016
Re: Major shareholders Luc Van Schill is the CEO of The Surgical Company.I would guess he might start selling his stake in Toumaz now that he has got what he wanted.I EXPECT the salaries and bonuses of the BoD to reduce as they have clearly not delivered in respect to Sensium and cost us in the region of £40+ million.
