Apc Technology Share Discussion Threads

[simon templar qc] 22/12/2016 17:56

Bigger buy on close should rise again tomorrow.

Seems Redleaf their PD gone as well so all change with new broker. Could be cost cuts there as well.

Price that low could see a New Year tip for one of biggest risers next year. Tipster sheets always on the lookout for undervalued stocks.

[brownie69] 22/12/2016 13:36

My take on the results is that it looks like the company has turned a corner with restructuring largely complete and balance sheet strengthened.

Margins improving and a more focused business.

Lots of PI's have decamped and thus this is probabiy the best time for longs to buy. New broker note supposedly out early in the new year.

SP seems to have found support levels just below 6p.

[rinson] 20/12/2016 11:16

At least they provided something unlike the current thumb twiddling broker.

[kemche] 20/12/2016 10:33

Rinson,
My error - apologies!

It was of course Cantors which provided the uncanny accuracy!

[kemche] 14/12/2016 20:08

Aah Mr Templar, welcome back!

Are we still relying on Cenkos and their very insightful analysis? How did that work out last year? And most importantly, do you think they will need yet more funds?


It really is deja vous all over again!

[simon templar qc] 14/12/2016 16:58

The share price was over hammered with all the restructuring, the average PI not got a clue on future numbers.

With quite a lot of costs cut out there should be healthy profits on higher margins. I suspect margins will improve further down the line.

[philjeans] 14/12/2016 16:52

Thanks ST - be interested to see the full notes from each broker in due course.

Still time to get a New Year bagger here.

[simon templar qc] 14/12/2016 16:41

Stockdale note not out yet, brief note from Cantor and target price below.

"APC Technology Group Plc (HOLD from BUY) – Prelims reflect period of restructuring
APC LN (5.7p, TP 20p), Market Cap: £7.2m"

My view, with all the restructuring the remaining businesses should be capable of generating good profits. Market cap of £7.2 million ridiculously low and a prime takeover target.

[philjeans] 14/12/2016 15:07

All the bad news is priced in - not the good news coming.

Mr Market says up today.

[kemche] 14/12/2016 14:58

Jimbo, What capital buffer are you referring to? And can you also explain "capital position is now strong enough" - I am having trouble locating this "strong capital position".

I would also suggest that the case for the bears is the fact that APC have a negative working capital position to the tune of £3.5m and not much else. That deficit can only be plugged by profits or another fundraising. My question is "which will come first?".

All IMHO of course.

[kemche] 14/12/2016 13:44

Well said Jimbo!

Net Current Liabilities £3.5m! Net Tangible Assets -£3.9m!

Another fundraising?


"Based upon this review, the extension of the GBP6,000,000 invoice discounting facility to December 2017, extension of the loan notes to July 2018, agreement of extended payment terms with suppliers as necessary, and other prudent working capital management, the Board believes the Group will continue to be able to meet its liabilities as they fall due. Management also has the ability to raise capital through issuance of additional loan notes, further private share placings, or sale of additional assets if required."

[philjeans] 14/12/2016 12:44

'tis darkest just before the dawn

BUY for me - bargain rating and they're back to the basic proven profitable business

Easy bagger from here in 2017

New Year Tip List?

[kemche] 14/12/2016 11:50

Groundhog day EVERY year! Shot to pieces balance sheet and non recurrings. Followed by the obligatory pages of waffle. Another fundraising?

[columbarius] 14/12/2016 10:56

If you look at the statement from last year's accounts "FY2015 was a challenging year for APC but with the business now stabilised and a clear new strategy in place, there is cause for a renewed sense of optimism" it's hard not to laugh as the company proved to be a basket case that needed rescuing twice. There is a long way to go before this is out of the woods because even after reorganisation and placings the balance sheet is rotten with high short term debt, low cash, negative working capital and negative net assets.

[my retirement fund] 14/12/2016 08:50

Derampers appearing, bid bashing sells circular money .....What utter Tosh!

[jimbobtechstock] 14/12/2016 08:15

Absolutely -

[playful] 14/12/2016 08:10

It can only be attributed to the Chairman stepping down, but that's a positive in my book.

[jimbobtechstock] 14/12/2016 07:46

Looks like a corner turned but the last 16 months interest in this share has plummeted both here and LSE and other BBs so I'm guessing retail interest is minimal here. There was a steady sell-off since the Water disposal - which some have attributed to GC employees and/or shareholders walking. Looked for a while like this was being shorted below placing price - de-rampers appearing and bid-bashing sells, circular money pushing it down.

BS looks reasonably healthy now, 444k plus whatever net was gained from Water disposal. Have no reason to doubt that APC is now at or very near cash generative (may be one or 2 exceptionals left to clear), debt is firmly under control with the bulk being in the invoice facility, which is less than 2 months' revenue lead so passed rule-of-thumb test for me.

At this price it looks priced to fail and the MM are going for a further gap down so I'm assuming they are all running massively short pricing for the next placing, which now looks like it aint coming so trying to spin the news here as bad through red on the the opening.

If I'm correct in assuming most punters have deserted this now the tricks hopefully shouldn't wash. I bought more at 5.9p and wish I'd waited but will be holding long term again now on these results so good luck if you're short here.

[this_is_me] 14/12/2016 07:34

It reads a bit like an episode of Homes Under the Hammer. It looks like reconstruction works are just about finished and it looks much better as a result.

[playful] 13/12/2016 16:07

New website launches and results tomorrow, so hopefully we'll see some positive share price reactions.