Auction Technology Share Discussion Threads

[silkstag] 12/6/2012 10:02

akaaur, you are so careless, I posted from the 20 January 2012 and 10 May 2012 RNSs which are on my hard drive. The 31-12-2011 ATG accounts have missed Winks/Peasron publication dates twice. Fact! Why do you think they are late again?

[akaaur] 12/6/2012 09:57

silk stag your so funny, from all your detailed previous posts, you mention rns expected april 2012 last, lol

amateur, stop copying and pasting from iii

[ukmassy] 12/6/2012 09:39

Give it a rest Silkstag. You're so boring!

[silkstag] 12/6/2012 09:34

20-1-12 RNS "The Board expects to provide a further update on trading at the time of the announcement of its preliminary results for the year ended 31 December 2011 which is expected to be released in April 2012". Oops!

10-5-2012 RNS "The Company expects to release its preliminary results announcement for the year ended 31 December 2011 in early June 2012." Double ooops!

ATG 2011 accounts may be delayed by wrangling with auditors. They know these are the last accounts before liquidation so will be nervous. Winks/Pearson will want to over-value the tech subsidiaries and the auditors should issue a 'disagree opinion' but might cheat and issue an 'uncertainty opinion'. Some posters asked about the import of 7 June. I posted on a different thread on ADVFN on 8 June:

"ATG failed to issue prelim results to 31-12-2011 by 7 June 2012. Thus no AGM by 30 June [must give notice of 21 days +2 days for postage]. AiM Rule 19: "An AiM company must publish annual audited accounts which must be sent to its shareholders without delay and in any event not later than six months after the end of the financial year.

I have never seen an AiM company fail to have its AGM, at which the accounts are laid before shareholders, within the six months. This delay is another HUGE sign ATG shares are worth 0.000000000p.

...the director's statement of affairs for the Administrator or liquidator will show a multi-million pound creditor deficit so it will be clear the shares are worth zero pence in all scenarios".

[27howard] 12/6/2012 09:32

Thanks for you post yesterday Silkstag.

[silkstag] 12/6/2012 09:15

'Filthy liar Rachit7', you posted the dishonest allegation "the guy...prob struck off as an analyst". That utter fabrication exposes you as a pathetic liar. You posted that libel without any basis. It is false and malicious. You are a disgrace.

Akaaur posted "i have been looking at the [2010] accounts, it shows a 430k profit for bchannels, and 525k for second 2 limited, which combined is the tech division,that was of 7.2million sales, this year [2011] we have 8million sales from tech division". The 2011 sales is in the 20-1-12 RNS which said "2011, the Technology division...revenues...GBP8.0m...operating profit...GBP0.5m". Yet you didnt post that profit had collpased to £0.5m in 2011 despite a 6% increase is sales. Why did you omit that disaster from your factual post?

Also, your '430k profit for bchannels' is odd, as is your '£7.2m sales'. 2010 Accounts say £7.56m tech sales and they specify £325k as 12 months operating profit in 2010 for bchannels. Where do your incorrect numbers come from?

Lets stick to reliable facts from RNS and ATG Accounts. Tech operating profit:
6 months to 30 Jun 2010 £451,000
6 months to 31 Dec 2010 £616,000
6 months to 30 Jun 2011 £420,000
6 months to 31 Dec 2011 £80,000

That horror collapse is probably why the funding round at 0.5p failed and the bank then forced sale of tech to try to recover its £1.5m debt. The other £4m net liabilities are in huge trouble. ATG shares are dead.

Lie your way out of these facts, Filthy Liar Rachit7!

[rachit7] 12/6/2012 07:17

the british bulls have had a good run on ATG,calling the correction in jan right,but as quoted a lot of indecision in the market at the moment,i think that may have weighed on us yesterday p.m



just out of interest looking back at some earlier research on here our biggest shareholder Savills spent £3 million with Adventis on marketing last year up from £2.7 mill 2010


click on Preliminary Results: Report for the year ended 31 December 2011 pdf,then search adventis.

[jonyjackles] 12/6/2012 07:09

interesting...........

[rachit7] 11/6/2012 21:22

when you look in again silkstag can you explain to the traders/investors here why you said the company would be de-listed if accounts were not published by june 7th??? we are all anxious to know how you got that one wrong

you were openly advising users of this bb to dump ATG before the 7th june were you not? i would say that needs explaining too...?

[jonyjackles] 11/6/2012 19:48

hello guys,
akaur, i too have phoned around and there is no panick on the shop floor, this week will have a rosy end to it, trust me ;)

[rachit7] 11/6/2012 18:50

akaaur traders paradise here at the moment,but someone is happy to stir things up to get stock moving, why? ,well sellers went stale over a week ago,so they generate interest then take up the slack mopping up stock as you go.

digitales provided some good links to the twitter feed for second2 and bchannels,some nice insight into a very good working environment,bchannels is looking for staff, just opened a base in Utah i think,complementing the base in San Francisco,i see expansion and i feel a nice insight coming with results into the progress made since late 2011

[akaaur] 11/6/2012 18:29

rachit i agree i have been looking at the accounts, it shows a 430k profit for bchannels, and 525k for second 2 limited, which combined is the tech division,

that was of 7.2million sales, this year we have 8million sales from tech division, and thats not even inc the significant contract win, i have phoned up second2 and bchannels, they say everything is normal year, workers not panicking about no administration,

guys do your own research alot figures and words being mis used, but someone is cleverly loading up, behind the scenes,

its only the bank that has asked for the money no other liabillties, are asking anything, yet,
DYOR, tomorrow, could be another 50% rise then slowly moving towards 2p, and then kaboom, we need news tomorrow

[rachit7] 11/6/2012 17:53

UKMassey i remember that post too,the guy is a serious danger to your finances,prob struck off as an analyst so has to daytrade/peddle this old accounts to scare buyers,encourage sellers,on small cap like this is very effective.

[rachit7] 11/6/2012 17:51

akaaur i think you are wasting your time discussing any other outcome with silkstag,he is a multiple named poster that has attacked the company/management for his trading agenda,see the timing of his postings today coincide with midday markdown.

only a new set of figures/guidance coming very soon will shut these repetative bashers up.

a good day today,good volume of stock churned all finding a new home.

[ukmassy] 11/6/2012 17:48

Silkstag, Hmm. Didnt you say they have to publish accounts by June 7 or they will be delisted? They're still trading!

[akaaur] 11/6/2012 16:33

silk stag, but we only need to pay the bank, secondly profit for the tech division alone was 1million, but overall profit was 500k, now that health is out of picture, things look good, but we will need news

[silkstag] 11/6/2012 16:11

when tech is sold there will be nothing left but about -£2.5m liabilities so mandatory to appoint liquidator (or administrator to get rid of small breakeven or loss-making property ad agency).

the bank is the secured creditor so of course it is forcing the issue. HMRC may serve a winding up petition along the way, if the tech sale drags on.

[akaaur] 11/6/2012 15:37

silk stag but other liabillties are not the cause for them selling the tech business, the bank only requires the money, the others have not yet asked for the money, the bank is only asking for 1.5million, it does not mention anywhere about paying other creditors yet or them raising a issue,

[silkstag] 11/6/2012 13:43

27howard, I estimate that 'total liabilities' exceeded 'current assets' by about £5.5m at 30-4-2012. [The two tech subs may have been reallocated from 'goodwill' to 'stocks' within current assets, but we should ignore whatever over-valuation Winks/Pearson put on them. Those deceitful directors valued ACL goodwill at £3.25m and sold it for £0 ten weeks later].

All that is left is disposal of the two tech subs. Six obvious problems:
1) These are people businesses, ad agencies, so only ever sell on low p/e ratios.
2) Management are mainly out of lock-in so about 50% of proceeds will go to them.
3) This is a distressed sale, so ATG wont get nornal valuation.
4) Tech management will have equity in newco so are motivated to help buyer pay as little as possible
5) Bank just wants its £1.5m, frced tech to be sold and will push any deal through.
6) Operating profit tanked from £1.1m in 2010 to £0.5m in 2011. That is a disaster when you are trying to negotiate a decent exit price.

Overall, my estiamte of proceeds to ATG has been £1.6-4.0m (top of range only if 2012 is going well).

Don't forget Winks/Peasron already admitted my range was right, if you read their devious misleading 10-5-2012 RNS carefully. I have only INSERTED NUMBERS TO MAKE WINKS/PEARSON DECEIT OBVIOUS:
"Having tried, unsuccessfully, to persuade investors to back our efforts to raise new equity [at 0.5p or otherwise] to pay down both bank [£1.5m] and vendor debt [£2.5m]...technology businesses which will now have to be sold to pay this historic debt [£1.5m + £2.5m = £4m]. We believe that these businesses should be sold for an amount that is greater than that owed to the bank [£1.5m]."

Then there will be £0.5m corporate finnace fees, legal fees, nomad, management fees; then £0.5-1m fees in liquidation of parent company and all the subsidiiaries.

So, yes, the tech disposal will reduce the net liabilities down from £5.5m. But no chance of covering them. Liquidation deficit of about -£2.5m looks like best case, hence -5p per share. It could easily be -10p if the sale goes poorly e.g. drags out and the business implodes or one or more of tech management resign, to buy their business for peanuts from an Administrator (which is what will happen if Winks/Pearson or Savills/Isis mess about being too greedy).

[silkstag] 11/6/2012 13:43

sorry, dont know why duplicated

[silkstag] 11/6/2012 13:43

sorry, dont know why duplicated