Gatekeeper Share Discussion Threads

[mctmct] 18/10/2006 13:33

Do we know who FORUM are, and their trading style?

mct

[scburbs] 18/10/2006 13:04

These guys are keen! I wonder where they are picking there stock up from without moving the price. Has anyone here been selling out of boredom? Personally I have been adding regularly for the rerating.

"18 October 2006
Gatekeeper Systems, Inc.
('Gatekeeper' or the 'Company')

Holding(s) in Company

The Company was informed that on 17 October 2006, FORUM European Smallcaps GmbH increased its shareholding in the Company to 4,160,833 ordinary shares, which represents 9.38% of the entire issued ordinary share capital of the Company."

"The Company was informed that on August 8th 2006, FORUM European Smallcaps GmbH increased its shareholding in the Company to 3,635,833 ordinary shares, which represents 8.22% of the entire issued ordinary share capital of the Company."

[arthurly] 18/10/2006 12:57

FORUM European Smallcaps GmbH

- Doesn't seem to be any downside on GKR at all - if anyone sells they hoover them up.

[scburbs] 17/10/2006 15:22

Afternoon Masurenguy,

It was March contract at 45.85p in order to cover the we smashed all forecasts trading annoucement in January! A cost of 3% over the transaction price (44.5p) for 5 months finance and the commission cost which is ok.

[masurenguy] 17/10/2006 14:11

schurbs - trading in this stock has been quiet recently with shares only traded about 3 days a week on average. Also there have been only two days over the past 11 weeks where more than 100K shares have been traded.

Which contract did you buy - Dec, Mar or June ? IGs current spread at circa 2.5 - 2.75 is not too bad.

[scburbs] 17/10/2006 12:32

I have added another £250pp at 44.5p today. IG was able to pick this up very quickly from a MM suggesting we may have a seller. This would explain why we are still at such a ridiculously low price.

[masurenguy] 10/10/2006 18:17

You could well be right - lets hope so :-)

[arthurly] 10/10/2006 17:14

Masurenguy - I'm a bit more optimistic than you. Been saying for many months that they should make $5m before tax. I reckon that translates to around £1.8m after tax. So on a P/E of about 10.5. But if you strip out the cash its about 8.5.

If you look at your figures you'll find that you are forecasting lower profits for H2 this year than last year. As turnover is likely to rise by maybe 50% in H2 over last year I think H2 profits will be well ahead this year.

[wjccghcc] 10/10/2006 11:56

I want to meet your mum!

[spooky] 10/10/2006 11:36

Yes but if you get EPS of 5.1 cents the PE is not 9 at 44p,i asked my mum and she knows everything :-o)

[masurenguy] 10/10/2006 11:29

No, Gatekeeper is a US based company and all of its financial reporting is in $US.

Gatekeeper Systems - Interim Results
07 August 2006

Gatekeeper Systems, Inc.

Record results announced for six months ended 30 June 2006

Highlights:

*Turnover increased by 117% to $12.7m (June 2005: $5.9m)
*European turnover increased by 800% to $3.7m (June 2005: $0.4m)
*Net profits increased by 173% to $0.6m (June 2005: loss of $0.9m)
*Positive operating cash flows of $1.2m (June 2005: negative $1.3m)
*Net cash of $8.3m (31 December 2005: $7.9m)

Commenting on the results, President and CEO, Michael Lawler said: 'We are very
pleased with our performance for the first six months of the year, particularly
the rapid progress we have made in Europe, which has exceeded our expectations. We have also been able to negotiate long term supplier contracts with two of our three largest US customers which will provide greater certainty over future turnover. In addition, our order pipeline remains exceptionally strong and bodes well for the rest of 2006 and beyond.'

For further information please contact:

Gatekeeper Systems, Inc. Seymour Pierce Limited
Aaron Neilsen Jonathan Wright
Tel: [phone] Tel: [phone]

[planetgong] 10/10/2006 11:16

Your figures are (should be) all pounds sterling????

[masurenguy] 10/10/2006 11:05

Could be a good time to buy with the share price remaining in the range of 40 - 46 over the past 4 months. August interims were very good with half year sales exceeding full year 2004 sales which was the basis for their IPO at 48p.

There has been share dilution since then due to several synergetic acquisitions but eps has at least remained constant at around 4 cents. With these acquisitions now fully integrated the benefits should start to be reflected in both sales and income during H2.

Would expect full year sales to top $30m with post tax profits of circa $2.3m which should produce an eps of circa 5.1 cents and a current PE of circa 9 based on todays share price of 44p (which incidentally values the company at 7.5% below its IPO in Dec 2004). Projected sales and post tax income will have grown by circa 250% since that IPO if this full year performance is achieved.

This is a small, overseas domiciled AIM listed stock and this category can easily remain out of favour in terms of market sentiment and below the radar of institutional investors. However they are in a growing niche market and have made some intelligent and synergetic acquisitions. Their RFID technology on shopping carts could also be leveraged into other applications in the future and their products also harmonize with growing enviromental issues. Other overseas based companies such as RCG (also an RFID company) have shown that they can produce outstanding increases in share price values if you are patient.

Not a trading share but one to tuck away for long term growth and a potential acquisition target in due course. My shares in this company are all tucked away in my SIPP. As always DYOR.

[jorus] 10/10/2006 10:20

Thanks, folks - I'll try again.

[wiganer] 09/10/2006 19:51

I've never had a problem trading these. I use TDWH.

[wjccghcc] 09/10/2006 19:25

It trades under Reg S so several brokers won't trade it.

[arthurly] 09/10/2006 17:52

E*Trade are fine but Selftrade told me the don't follow it because its American ??? Couldn't get a sensible answer out of them as to why US companies on AIM should be excluded.

[masurenguy] 09/10/2006 15:18

Get a new broker. Quoted online by Barclays (under the EPIC: GKR) at 43p to Sell and 45p to Buy.

[jorus] 09/10/2006 15:14

I can't do an automated purchase because my broker can't find GKR!!!!!!!

[masurenguy] 27/9/2006 14:09

This is a very lightly traded share which is well below most peoples radar.
On average shares are only traded every other day and average volumes remain low. There are only circa 44m shares issued and more than 60% are held by insiders. Free float is therefore quite small (less than 17m).

I bought in during February and added in March and with the current share price at 44p I am just over 10% up on my average price. At this level the share price is still 8% below its IPO price of 48p nearly 2 years ago. Since then sales have more than doubled and they have moved from loss to profit.

This is a slow burner which should appreciate in value as they expand their supermarket penetration and utilize their RFID technology to address other applications. This is not a traders share - all my GKR shares are held in my SIPP as a long term investment.

[kidney] 27/9/2006 13:14

Why is the share price asleep?
Please keep up the interesting news here.I have held these since their highs and am bitterly disappointed at the dismal market response to GKR's importance to supermarkets and to local environments,too.

[scburbs] 24/9/2006 14:36

Interesting articles Arthurly. Thanks for sharing your research.

[arthurly] 24/9/2006 13:19

And they got a mention in Business Week :