Elektron Technology Share Discussion Threads

[blackss] 08/3/2016 14:14

Fingers crossed then CT, it seems to find resistance at 6p but not sure why TBH.

[castleford tiger] 07/3/2016 17:34

I had double that but sold at 7p a couple of weeks ago. posted at the time.
WILL TAKE THE LOSS after april to reduce my CGT

Tiger

[simon templar qc] 06/3/2016 13:02

Good move creating a new thread which can now be moderated and keep off all the trolls. Codebreaker will soon get fed up posting on the other thread when it isn't being used by anyone else.

I cannot be posting much the next week or two as my barrister is under instruction with regards to serious litigation.

[blackss] 06/3/2016 12:23

Are you holding 450k in the hope ? or are you expecting an improvement here CT ?

[castleford tiger] 05/3/2016 16:27

Gosh some very well informed and correct posts today.

spot on.
tiger

[blackss] 05/3/2016 16:22

whistleblower
The costs associated with checkit are being written off as fast as they are incurred. What used to be called exceptionals started to wear a bit thin after years and years so now they are called "start ups" but the end result is we don't know how much they are and they disappear off the bottom line absorbed by the only original part of the company Daley hasn't managed to destroy ie: Bulgin. Like all of Daleys brilliant ideas he has never had to justify, Checkit is dragging the company down so far even Wilson and Weatherstone have insisted their bonuses are not affected by it. The spin on the last update implied the company is doing ok if you discount checkit !!
Most companies are doing OK if you discount the bits that aren't so here is a lesson from the arthur Daley school of management.
Take the part of your company that is a total dead loss. Call it a "start up" even if it's basically been around for years, remove it from the general company accounts or just stop giving specific details. Then pour any profits from the rest of the company into the dead loss bit but whatever you do don't use this money to pay down debt or pay a div, just give your team leaders a big bonus and carry on ignoring the Elephant in the room. Hey presto you have a company doing quite well apart from the bit that isn't and of home you go for bonuses and pats on the back..

[wistleblower] 05/3/2016 15:59

ST
I agree with Graham, tens of millions have been wasted and also wiped off the stock value and turnover. I wouldn't be surprised if checkit has already passed £10m alone. If it started selling tomorrow i doubt it could even recoup its costs let alone make the company money.

[blackss] 05/3/2016 15:48

Arthur
Daley knew from the start he couldn't survive on merit which is why one of his first moves was to give himself the JSOP shares vote. With a little help from his two buddies Kinder and Perloff and by constantly fiddling with the make up of the board so non execs couldn't get their teeth in to him he pretty well made sure he couldn't be voted off. As the institutions and the private investors have pulled out of this his position is now guaranteed by default. What you are left with is pretty much everything that is wrong with the unregulated AIM and its unaccountable self appointed managements. Obviously this is just another company made up of management who have little interest in shareholders or shareholder value as can be seen by the chart. Self preservation and maximising the money you can drain out of the company in remuneration is the game here.

[simon templar qc] 05/3/2016 15:43

Arthur

You are wrong on the amount of money claimed the claim form included a particular sum that could have been easily quantified to get the action started.

Any restitution to the company could have amounted to multiples of the original sum claimed and in other documentation its been suggested any restitution could have amounted to tens of millions.

Graham ITV came up with tens of millions which have been wasted by the company directors.

[castleford tiger] 05/3/2016 15:23

I will let Simon answer that BUT

We were all guilty of "dithering" when we needed to take action.

Its like TNG the robbery there is the same

They wreck the company and drive the share price down to under a penny.
Then part of the BOD offer 1.75p which the Non-exc agree to.

Along comes another bidder and as of Friday the company has come back at 4p

That's more than double the offer.

Disgrace and KD was the same.

Simon I am still holding 450k I sold the others at 7p.

Tiger

[arthur_lame_stocks] 05/3/2016 14:30

Simon

It seems to me that you're taking a very big risk with your litigation in return for a fairly modest return.

If I understand it correctly you are seeking about £2m from EKT directors for their alleged misdeeds so your share of this with 2% of the equity is about £40k. But surely in a worst case scenario your costs could substantially exceed this?

Wouldn't it have been better to get the support and financial assistance of other major shareholders or go down a different route such as trying to remove Daley and Wilson through a vote?

I know people fight things on principle but you're taking all the risk and other people stand to get most of the reward if you're successful.

Good luck with it anyway. If you're successful you could certainly put the wind up a few people.

[castleford tiger] 05/3/2016 12:34

cant understand why we didn't do it ages ago.

Re nick moving shares I could not get the last lot to tally.

[arthur_lame_stocks] 05/3/2016 11:42

It's quite funny seeing Code Breaker ranting at itself on the old thread now.

[blackss] 04/3/2016 20:31

Wasn't it just Nick slater moving stock sideways ?

[jugger123] 04/3/2016 19:34

Am I stupid!, but was there a big sale and no announcement yet?

[castleford tiger] 03/3/2016 11:48

thank you . A real thread on the company.
Tiger

[blackss] 03/3/2016 10:41

Somewhat ironic that the website



Takes you to a company aimed at minimising risk —maximising revenue ?
maybe the management at Elektron should employ these guys :-)

[wistleblower] 03/3/2016 08:51

That about sums it up.

[blackss] 02/3/2016 20:23

Agreed wistleblower, a lead balloon of an update..
What can we tell from it? Well as usual its all smoke and mirrors. Checkit looks on course to undergo its third relaunch in as many years and still they seem unable to name one single customer.
The core business has significantly improved they say but as all profits are eaten up by checkit, it makes little odds to an investor. How much longer can they get away with calling checkit a start-up and giving absolutely no clue to the obvious burden it has become on the company finances?
A small note on bonuses in the Remuneration Report in last year's accounts tells us that John Wilson and Andy Weatherstone will receive significant annual bonuses based upon performance before checkit of the Connectivity and Instrumentation divisions respectively - so I don't expect that anyone will be working hard to reduce Checkit costs or overhead allocations in the current year, particularly the Group Finance Director ...
As for the rest?
I love the bit about “no exceptional’s”. For exceptional please read “start-up!R21; from now on.
And “Trials” in my experience is AIM speak for giving it away in the hope someone will take it up
Can the company really ignore the (white) elephant in the room (Checkit) while doing its accounts for another year? You bet they can
They proudly launched Checkit in October last year (again) and tell us now that the reception was extremely positive in the “target market” and that plans for pilot projects are at an advanced stage, and also that a further second phase of a major new Checkit product development programme is undergoing 'initial' field trials and will be launched in Q1 FY 17. Which leads me to think
A/ They haven't sold any
B/ It probably doesn't work properly if they are trialling a second phase
C/ Q1 FY 17 is right now (ending 30 April 2016) but the wording doesn't sound very imminent
So, they remain in the wilderness. They seem to have 'bet the ranch' on Checkit, which doesn't seem to work and isn't selling, whilst proposing to penetrate markets where there are established competitors making sales of products that do work. EKT is breaking even on bottom line and cash; bank debt is under control, but there is no profit, no growth and no dividend. Net Tangible Assets per share must still be around the 2p per share mark. Not much of a value proposition at 6.75p ...
We have a new slate of NED's since the Autumn, and they must be seeing the actual numbers and hearing the same old rhetoric, so I guess that the future now depends upon their patience (or gullibility). In the meantime, the best business is the one that they started with 10 years ago (Bulgin) and the directors continue to draw big pay and expenses, whilst the market is bored with the whole charade
Will the new BOD finally get a grip on this mess? Easy answer…pretty unlikely.

[graham1ty] 02/3/2016 18:05

Well done Black.

Can this thread just be about how the company is performing. No updates on the world economy, nothing (please) on the litigation unless very relevant, no fish.

Are they selling anything ? Are they making money ? Are they losing cash ?

That is all......

[wistleblower] 02/3/2016 16:12

The trading update went down like a lead balloon then Black. Now there's a surprise.

[blackss] 02/3/2016 11:05

Well by popular demand we now have a moderated Elekton Thread free from COD or any other type of fish come to that.
Please post sensibly, i will do my best to moderate this but i cant be responsible for its content or direction.
Enjoy.

[blackss] 02/3/2016 11:02

THREAD CLOSED

[patviera] 21/11/2015 17:13

So Codebreaker u have no interest in ektOnly in BarryU r Barry's brother