Auction Technology Share Discussion Threads

[digitalis] 29/5/2012 12:40

can sell 350k online easy atm.....buyer hoovering up imho

[digitalis] 29/5/2012 12:37

thnx howard......i did see there was no talk of 2.5mil plus on lse....worth ignoring anyway,people need to do their own research .....

[27howard] 29/5/2012 12:34

digitalis

I'm not deramping or ramping here, just be wary, this person is using a lot of different names on this site.

[digitalis] 29/5/2012 12:32

its coming langyy.....be patient.....

[digitalis] 29/5/2012 12:25

and like clockwork stag pops in just as the buyers do....lol....now i wonder why that is?.....

[silkstag] 29/5/2012 12:21

Digitalis, you say 'all we need is the market price for our tech businesses....you do the maths!'

The 'market price' for an eve of liquidation distressed sale, is very little. Certainly wont get near the £5.5m net liabilities at 30-04-2012. But lets do the maths in a factual way.

In December 2011 Adventis sold the business of Adevntis Coltman Limited. Key staff joined a newco thus a distressed sale. p/e of 0.

In January 2012, Adventis sold the business of Adgenda Media Ltd. Buyer mainly just took the trade creditors. New cash p/e was 1.3. If one includes the creditors, being generous, one could call it a 'headline' p/e of 5.9.

Tech earnings under £0.4m. Distressed p/e of 0 gets £0. Cash p/e 1.3 gets £0.5m. Headline p/e 5.9 gives £0.5m in cash plus clears £1.9m of creditors on top i.e. the £2-2.5m of management earnout debt can be folded into the deal. Which is what I have said all along.

Nothing for the ballpark £2m other group creditors. Nothing for the £1m in deal fees, lawyers, Nomad, liquidator etc.

Best case sceanrio is £3m deficit in insolvent liquidation even if ATG gets full 'market value' on sale of tech advertising agencies...which it wont as it is in distress!

Happy with the Maths based on facts, Digitalis?

[27howard] 29/5/2012 12:19

Why do you use so many different names ?

[digitalis] 29/5/2012 06:41

bye bye bozzy......all we need is the market price for our tech businesses....you do the maths!.....


my take....we know what the fy numbers will be from the trading update 20 jan 2012....that update was recieved well,now what we were promised with the fy numbers was a trading update for 1st half,well as i see it and this is my opinion we will be getting guidance/trading update over the last full 6 months,since the management has decided to engage in the sale of the tech assets why issue a part trading update? when we can get a full 5 month update?....so together with the advisors who will market our tech assets we will hopefully have a set of improved figures (5 month) to market the company........the second2 website is all spruced up.... let the bids roll in.....all my opinion fellas.....tick tock....

[bozzy_s] 29/5/2012 00:12

I decided not to do a quick day trade here. With such a small number of shares in free float these might do 100% in a day, anytime soon. But I don't want to risk losing 100% if/when they are suspended pending financial clarification which seems to be the most likely outcome. GL to holders though. Hope you get a miraculous result.

[digitalis] 28/5/2012 17:13

Meanwhile,business as usual 1hr ago



Second2‏@second2tweets

We're currently working on a video for Symantec and Dell. Here's a shot from the voice over recording last month.



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[bubble pricker] 28/5/2012 16:26

Yes indeed. I have been conned by MHG's directors, and I will take them to court for it. Nobody is perfect. At ATG the picture is plain to see for anyone who cares to look at the accounts.

[loverat] 28/5/2012 13:52

Bubblepicker

I read a post from another thread - your're a shorter. A shame you were not so insightful with Merchant House Group - despite being taken out to lunch by the directors.

[silkstag] 28/5/2012 13:12

BP, slower flow of buyer lambs despite Digitalis, Rachit, 27Howard and loverat inviting them to the slaughter. Slaughter maths:

+£1.6m to £4.0m for tech ad agencies on p/e 4-10 [if rampant 2012]
-£0.5m deal fees, nomad fees and lawyers
-£5.5m net liabilities 30-04-2012
-£0.8m management, liquidators

=-£2.8m to -£5.2m liquidation deficit = -5.5p to -10.5p per share.

Maybe 1-2p better if tech management write off £0.5-1m in deal.
But my previous predicted liquidation deficit of -4p to -8p is looking optimistic.
0% chance of shares realising more than 0p.

[silkstag] 28/5/2012 12:32

Repeat: 'Digitalis, which of these facts do you agree or disagree with?'

[digitalis] 28/5/2012 12:18

come on stag.....sqeeeeze em......yawn.....

[silkstag] 28/5/2012 12:15

Digitalis, please post on each of items 1-8 if you agree or disagree?

1)Net liabilities 30-04-2012 about £5.5m.
2)Management mainly out of lock-in so will take half of tech agency proceeds.
3)£0.4m earnings advertising agencies distress sale p/e max 4-10.
4)£2m other net liabilities will go unpaid.
5)£1m Directors, advisors and liquidator fees add to deficit.
6)Liquidation deficit -4p to -8p.
7)All possible good news is factored in.
8)Shares worth 0p, rounded up.

Repeat: 'Digitalis, which of these facts do you agree or disagree with?'
Your failure to answer shows there is no uncertainty in 8.

[vision88] 28/5/2012 11:55

such assumptions are hilarious this is 2012, Greece has a massive headache Euro looks like wining the Olympic diving feat PIGS all in the line up, ex Canadian prime minister is taking it all lying down contemplating ED Balls next move,whilst your (QUOTE)
I assume Tech is recovering in 2012 from earnings crash £0.8m in 2010 to £0.4m in 2011. Expect a positive trading update. Also expect Winks/Pearson to puff and mislead again, perhaps omitting 2010 number. AND WHAT NUMBER IS THAT

[digitalis] 28/5/2012 11:55

you keep spouting stag.....repeat postings are a sign of uncertainty.....oh and an out of work analist daytrader.....

[silkstag] 28/5/2012 10:25

Digitalis,

I assume Tech is recovering in 2012 from earnings crash £0.8m in 2010 to £0.4m in 2011. Expect a positive trading update. Also expect Winks/Pearson to puff and mislead again, perhaps omitting 2010 number.

The £2.5m earnout debt could reduce by £0.5m as Tech missed targets in 2011. If so, mountain of net liabilities at 30-04-2012 about £5.5m?

£0.4m earnings advertising agencies distress sale, management mainly out of lock-in taking half of proceeds, p/e of 4-10 covers £1.6-4m of £5.5m.

Bank's £1.5m and some of earnout £2m could be ok. But £2m other net liabilities unpaid. Directors, advisors and liquidator £1m fees on top. £3m Deficit is -6p per share.

Liquidation deficit -4p to -8p, assuming Tech strong growth in 2012 and good sale achieved else deficit wll be more. All possible good news is factored in.

Shares worth 0p, rounded up.

Digitalis, which of these facts do you agree or disagree with?