261 replies to this topic

[Bushmanbob]

Andi- Thanks very much for taking the time and for sharing your information. It doesn't look like management have sold off any of their holdings either, which is positive.

[David-89]

Anyone still invested here? Looks like a good buy between 22 and 25 to me.

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Still here and buying more whenever I can! I also see phenomenal value here. I’m pretty sure the reason for their stellar results last year was the once off like you said and a few accounting adjustments. From here on out the financials should be stable and we should be able to do a better valuation.

[andi222]

I did a deep dive on the results and can summarize them as follows:
They increased revenue by 17%
They increased gross profit by 8%
And normalized EPS was increased by over 100%.

So overall on the top side there is growth and normally they perform better in the second half of the year so I'm expecting an atleast 20% rise in total revenue for the year.

Now looking at the EPS. It looks like they did horribly but I had a second look and they actually managed to increase the normal business significantly. Taking out the once off income from the prior period they actually made a loss of 1 Million in Half year 2020. (Excl Once off deferred vendor liability and ETI programme).

Now this year they actually made a profit of 4 Million. That's a huge increase.

Also I saw that they have increased their staff by more then 40% year over year.

NAV also at above 50 cents and cash on hand of 8 cents per share.

So any Takeover bid should be above 50 cents to be fair and reasonable.

So guys have a second look and you guys will see that there is progress and I still believe in the business model.
Again this is just my personal opinion.

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[Bushmanbob]

Anyone still invested here? Looks like a good buy between 22 and 25 to me.

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Andi - certainly looks like a good buy but despite the temptation to load up I still haven't been able to figure out what the horrible results were attributed to in their most recent results.  

[andi222]

Anyone still invested here? Looks like a good buy between 22 and 25 to me.

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[Sleepwa123]

Really disappointing results. I sold out and moved cash across to Ascendis.

Really poor results and poor communication in terms of what went wrong.

[Bushmanbob]

I honestly think this thing is ripe for delisting. I can't see how they can justify the expense given their current market cap. Also, a downside to retail equity holding such a low percentage of stock is that management have contempt for stock holders. They could do a much better job of explaining what went wrong. The daft they didn't doesn't sit well with me.

[andi222]

Wow the cash flow statement looks horrible.

From a positive 17 Million cash flow from operations in 2020 to a negative 8 Million in 2021. What on earth are they doing?

Also their investments into innovation have basically halfed.

From a positive operating cash flow of

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[andi222]

Yeah only thing we can do.

Really wonder what they did for the significant drop.

I might also offload some if there are buyers. But looks like it's hard to find buyers

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[Sleepwa123]

Ja I'm holding for now but will analyse the financials closely to see where it went wrong. 

 

If it is once off accounting adjustments then I may still hold.

[andi222]

Ai really bad trading statement. EpS down 90%

No idea what they did but looks like the turnaround plan doesn't work out.

Will keep my fingers off this one for now.

With EPS of only 0.4 cents I cannot see a value of more than 20 cents.

That would already imply a EPS multiple of 40.which is super high already.

No recommendation to trade just my personal view :/

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[David-89]

I received a reply this morning. "We should finalise all the information this week and also obtain board approval. The SENS announcement will be out next week."

Fingers crossed, they stick to the timeline.

Thanks for this. Something to look forward to next week besides Friday 5pm

[Sleepwa123]

Thank you for going through the effort.

This will be an interesting one. Hopefully we start to see traction on the share price.

[Bushmanbob]

It seems as if 4SI has completely forgot they have interim results

 

I received a reply this morning. "We should finalise all the information this week and also obtain board approval. The SENS announcement will be out next week."

 

Fingers crossed, they stick to the timeline.

[David-89]

It seems as if 4SI has completely forgot they have interim results 🥲

[Bushmanbob]

Thanks Andi. Definitely some complexity in moving across to SA but the comms are poor around timing...

I agree and I haven't had a response to my email to their investor relations people.

[Sleepwa123]

Thanks Andi. Definitely some complexity in moving across to SA but the comms are poor around timing...

[andi222]

They will issue interim results before end of September.

Hold up is that the reporting currency has changed and they will now report the numbers in Rands instead of USD.

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[Sleepwa123]

Still nothing here from June interims! Surely Covid is not an excuse to delay like it was last year?

[Bushmanbob]

Not overly concerned with those volumes as it only amounts to a total purchase value of around R1.246 million.

And that's for shares offered at 30, 31, 32 & 33c