Cinpart Share Discussion Threads

[ls lowry] 01/7/2010 19:42

Going.....nowhere but down.

[renewable] 01/7/2010 19:40

2 words..........."Going concern"

[ls lowry] 01/7/2010 18:19

All in all Cinpart is proving to be a dog it needs putting down.

[ls lowry] 01/7/2010 18:17

Eddsion no longer see Cinpart as a buy the best they can do is see Cinpart as attractive subject to sales growth meeting their estimates.

For current year and next year there has been a massive downgrade.

Sales have been slashed by millions. Next years sales slashed by 50% from £22 million to £11 million.

Instead of a profit this year they now forecast a loss of 400k and they have pared back over £2.9 million profit next year to a pre tax profit of 800k

More bad news in hinting at more funding needed.

[chingman] 01/7/2010 16:53

Latest Edison note on Cinpart available -

[renewable] 30/6/2010 09:44

Sorry RR - I found it in the RNS this morning, should have looked harder!!

Any views on the Straw Poll????

[reckless_rat] 30/6/2010 09:08

Renewable: Chairman's statement, post period events. Since the Prof came and went in the post period events' period, for completeness the Chairman might have mentioned both his coming & going in his statement. Then again this is a story they'd rather bury.

[ls lowry] 30/6/2010 07:57

I suspected they were running short of cash that was probably while they delayed results to hopefully come on with a contract statements so they could get the share price up. The trouble is the lower the share price the more dilution. The cash burn is horrendous I reckon about £2 million last year.

[renewable] 30/6/2010 00:24

Uncertainty! Taken from the RNS...

"For the gas ignition business the forecasts indicate that sales revenues in 2010 could return to levels similar to that achieved in 2008 but only modest growth can be expected in 2011.



The new business Active Energy is now established with a regular revenue stream, it has recently been enlarged and strengthened with additional management, in order to achieve a greater market share and significantly increased volume of sales, however there does remain some uncertainty over the achievability of the forecast revenues.



Equally if the demand exceeds expectation the business will need to be expanded rapidly.



It is therefore acknowledged that there could be a need for additional funding. The Directors believe there are a number of options available to them to meet any additional funding requirements, which include establishing a new invoice discounting facility in respect of the trade receivables of Active Energy, or a further placing of shares.



Having reviewed the cash flow forecasts and key assumptions, together with assessing the possible options for additional funding, the Directors have a reasonable expectation that the Group will be able to meet its liabilities as they fall due for the foreseeable future. It is on this basis that the Directors consider it appropriate to prepare the Group's financial statements on a going concern basis.



However for the reasons described above, the Directors recognise that there are material uncertainties that may cast doubt on the Group's ability to continue as a going concern, and therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business. These material uncertainties comprise:



- the achievability of forecasts and key assumptions within the forecasts; and

- the ability to obtain additional funding from alternative sources should it be required."

[renewable] 29/6/2010 23:51

RR - where is the announcement for the resignation of Prof Mike Hughes??

I've never read a more baffling MoU, why move into the USA, is the UK market too tough? Competition / margins?

Manufacturing to change from Kilbride to Thailand, seems like a very generic, non-specialist product.

Do they give up, do they carry on, cash burn, losses, more cap-in-hand to the market...............where does it end?? Success / failure??

Straw Poll: Those holders out there, who would partake in a placing?? I have no gripe if you do, your life, just wondering either way......straw poll!

GL all.

[reckless_rat] 29/6/2010 22:43

Interesting statement. The numbers are terrible ( farcical compared to market expectations last summer- see top of this page), the accounts are qualified due to material uncertainty as to going concern, the cash burn is >£100k per month and they will be out of cash within weeks. Another fund raising must be needed urgently. Before anybody gets the cheque book out they should find out why Prof Mike Hughes resigned as a non exec last week. He only joined in March this year with options over 140k shares at 14p and he is clearly a serious industrialist from the electricity sector. Was that a put option, Mike? As for the MoU in the USA it's not about the business but as Bill Clinton would say 'it's about the share price,stupid'

[doobster78] 27/6/2010 20:40

Agree completely. A step in the right direction anyway. Could be very interestin if a few deals flow from it.

[renewable] 27/6/2010 20:34

He prob walked out......

Mem of Understandings are a far cry from a hardcore deal.

[doobster78] 27/6/2010 19:45

LS.

When did u get sacked from Cinpart ?

[ls lowry] 27/6/2010 19:33

ian,

Suppose the co doubled the bonus shares ie 1 for 1.

You known how that would affect eps?

Zilch cos there will bec 50% dilution on eps made by doubling shares to each shareholder.....its a con.

[ianfellowes] 26/6/2010 23:16

Spaceparallax
Indeed there is a positive note in the times. I think we may have an interesting year.
Be lucky
Ian

[ls lowry] 25/6/2010 15:47

Reality check the 30% rise in share price evaporated!

[ls lowry] 25/6/2010 12:32

Talk of a possible fundraising again. The problem is they keep rasing funds and still no signs of significant profit soon...

[renewable] 25/6/2010 11:16

the US are on a diff voltage and the potential for savings would be lower imho.

Odd tie up if you ask me.

[spaceparallax] 25/6/2010 11:10

Results look okay, with tremendous potential from the SE tie up and the US MOU.

[ls lowry] 25/6/2010 09:00

This is what the co said ...

"we remain confident that the Group will be successful in achieving
its long-term strategic goals and growth which will in turn enhance shareholder
value."

Really long term eh they were supposd to be in profit this current year it looks to me like they have set that back!

As for the bonus issue its a con it means nothing. They could double or treble shares to holders as a bonus but it means eps when it comes would be diluted!!!

[fatso] 25/6/2010 08:50

excellent shorting stock as I can see no muscle supporting the share price here

[fatso] 25/6/2010 08:48

Good common sense prevails- people selling into spurious
strength this morning.

[ls lowry] 25/6/2010 08:47

Re news.

Memorandum of understanding means nothing unless they win significant contracts and make profit on those contracts.

They have had memorandum of understandings previously and have come to nothing!

Be warned !

[renewable] 23/6/2010 22:58

Let's wait I see I guess !

Anyone know who was dumping the other day?