Share Name Share Symbol Market Type Share ISIN Share Description
Mycelx Di LSE:MYX London Ordinary Share US62847T2024 COM SHS USD0.025 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 35.00p 27.50p 42.50p 35.00p 35.00p 35.00p 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 9.2 -2.2 -13.6 - 6.52

Mycelx Di Share Discussion Threads

Showing 51 to 74 of 75 messages
Chat Pages: 3  2  1
DateSubjectAuthorDiscuss
14/12/2015
12:30
Institutions appear to be changing deck chairs on the Titanic or a Vulture picking up a pre vulture swoop - Odds on which ? See some poor PI ? was stuffed for a 50K+ sale at 1p - (No comment)
pugugly
14/12/2015
09:40
See Paul Scott today - Too illiquid - spread too wide -
pugugly
11/12/2015
11:40
Down 46% today - no rns - just a premium news story - Does this not break the regulations for an AIM listed company ?
pugugly
24/7/2015
08:52
racing to 0p?
bad robot
22/7/2015
20:16
BUST soon.
bustedflush2
22/7/2015
09:03
Diabolical - If any value remains might find some one with cash to do a Remington at the current market cap (assuming ADVFN figures are correct) but suspect the word bargepole could be more appropriate.
pugugly
22/7/2015
08:14
Why buy this at all? It is clear the product is a nice to have. Management cannot be trusted. Sure fire way to lose money. Cash burn is really high. Constant placings looming IMO.
stewy_18
22/7/2015
07:45
To think that I was looking to buy this at one point when the share price was over £3! There is undoubtedly a decent product here but until there is a turnaround in their core market they are screwed. This mornings drop suggests they will have to raise new funds to stay afloat.
salpara111
16/1/2015
09:25
Profit warning going forward and increased losses this year The Company now expects to report full year revenue of $13.6 million for FY2014. This reduction in revenue results in a pre-tax loss of $5.7 million and an EBITDA of negative $4.2 million. One very much to avoid (imo) Thanks for all above who cautioned and stopped me from taking a gamble - I am always very wary of Coys that will not talk - Even when they do talk you have to read between the lines and ask "Hard Talk" question to get a handle on their transparency. Will keep on watch list BUT take no action at this stage.
pugugly
16/1/2015
09:17
And another profit warning. To be fair, oil service companies probably not the best place for your money at the moment, but it seems like MYX is a luxury product to oil companys and water filtering projects can be cut as discretionary spending. I saw it as a money saving necessity. Certainly not the case. Seems that no one really cares if they can filter water to a higher level. Would be interesting to how the competition is fairing, but as I am no longer invested, it is not that relevant to me. A useful eye opener regarding foreign AIM companies. A lesson learnt for me here. The risk reward was not great at 500 pence. Way too much risk. Not sure if it is worth a punt at these levels as we can't be sure there won't be another profit warning later down the road. I'll watch from the sidelines, probably indefinately :) Best Stuart
stewy_18
10/12/2014
08:36
Clearly the risk/reward dynamic has changed radically here in the last 3 months I always have a problem paying a high price to get involved in what are supposed to be fast growing small companies as it does not take much to derail them and then the share price crashes by 50% rather than the 5-10% that a big diversified company would drop. If you had made a portfolio of AIM stocks over the last 5 years you would actually be underwater while the main indicies are well up. I only have two aim stocks and both of them have given me heavy losses this year, I really don't know why I still try with aim stocks!
salpara111
02/12/2014
10:12
Placing today as expected. I've exited at a heavy loss. It was a great story when growing at 300% per half. Not sure it will maintain growth going forward. Not sure how depressed oil price will affect sales. Not sure it has a strong competitive moat and believe the competition may have caught up. Good luck if you are still holding.
stewy_18
28/11/2014
13:00
Well, non essential capex in the oil industry is going to disappear like snow off a ditch in the next 6 months. Given that they have alluded to the fact that they will need to raise finance there is no point in getting on board yet.
salpara111
28/11/2014
09:05
stewy_18:> I have been trying to locate a brokers note but none seem to be available. To me contract delays may only be delayed further as a result of the OPEC decision not to restrict production and the current fall in oil prices - some predicting as low as $60 next year. As a result massive reduction in capital expenditure which is likely (imo) to affect Mycelex. I am also starting to have concerns about the cost effectiveness of the technology -v- competitive offerings. My investigations to date suggest to me (but dyor all cautions etc) that while technical performance appears excellent it may only be a must have product in niche areas where water re-cycling is desireable/cost effective/mandatory. This is however based on looking at the publicised contracts gained to date. I seem to remember it as you that said the coy would not talk to PI's ? Have you had any luck getting through ?? EDITED:. AT 10:10. Merrill Lynch now calling WTI as low as $ 50 per barrel in the coming months.
pugugly
20/11/2014
08:41
Pugugly, I was a bit spooked by the last trading statement when they sais they faced stiff competition for contract wins. Thats a first for me because I thought they had a moat on their technology. It seems there are others that can remove particles from the water but not to the same purity as MYX. The order pipeline still looks ok, what they haven't done very well is set over optimistic targets to get a premium rating and they are now paying the price. I think it is too early to write this off just yet. They have done $16 million and have another $20 million in the pipe. But they need funding. I would be interested to see the updated brokers note if anyone has it. Best Stuart
stewy_18
19/11/2014
13:25
Not very clever of the House broker but I have found Numis usually tend to look on the bright side. The REAL QUESTION however given the delays to the contracts is "IS THE TCHNOLOGY AS GOOD AND AS COST EFFECTIVE AS CLAIMED ??" Has anyone any views on this ? Has been on my watch list since the fall after the interim results but unless and until I can see real field evidence that the technologies meets all its claims it is going to stay there. Almost performing like NGR Nature Group- Lots of unfulfilled promises. If another NGR still a lot further to fall PLUS as other posters have suggested further equity funding may be needed. Potential upside due to Regulatory requirements - Potential downside significant cut back by oilers of capital expenditure.
pugugly
19/11/2014
08:35
I looked at these about 6 months ago but could not bring myself to invest given the rather high market cap Vs revenue. Clearly now is not the time to be investing given the prospect of a dilutive fund raising but I do like the business so I am going to keep them on my monitor for the next 6 months and see how things pan out.
salpara111
19/11/2014
08:27
Yes, not my best idea to buy at 500 pence. It looks a lot more attractive at these levels though. Long term it will probably do ok, but they are way off on their 2014 predictions ($25 million revenues). It looks like $16 million. Funding also an issue, but pipeline remains strong. Not great news, but not enough to make me sell. Will wait a couple of years to see how this plays out.
stewy_18
19/11/2014
07:22
Funding needed.... Crash coming.
stegrego
22/9/2014
17:04
Hi Stuart (and anyone else out there) They did indeed do a presentation, available on their website. Overall nothing exciting, but page 9 I found interesting. It gives a timeline for large projects between signing the contract and recurring media sales (and a few other things). Of note is the variability and the fact that half of them have yet to produce recurring sales, including the Jack/St Malo at the bottom. We shouldn't forget also the time required before a contract is signed, which can be substantial. Another thing about the graph is the difference between lease and sale timelines. They have also already spent $1.5mn more on leased equipment post period end. I am beginning to see the logic in it. I wonder though if it would not be better to have real finance leases as opposed to bank debt. They don't as yet pay US tax, so a lease company could benefit from the NPV of the tax benefit. OTOH, there could be cross-border complications. It has been a long time since I worked on lease deals, so am not up-to-date. Another question to ask Connie. Cheers David
lavalmy
14/9/2014
16:10
Stuart I don't think it is high risk, but each has their own idea of what constitutes risk. My 4x sales approach is about right IMHO, though I would like to clarify a few issues on the tax front (the charge has been historically high due to Saudi withholding tax, which is treated as income tax, but is really a withholding on certain payments from Saudi to abroad. I can only assume that they sort this out and it looks like they have, but I think at the beginning they were bit naive about this sort of issue. To wit the sales tax in the US, where I remember they had a problem.) Now Numis is sticking with about $37 mn for next year, which makes £6-7 per share by my valuation. So a reasonable margin for slippage. But it is odd that management is sticking to this year's numbers and the broker is shaving a bit off. I don't remember seeing that before. Who knows the business better? And would management risk being wrong again? Connie is going to a large water convention in Texas in October. One of the themes, which MYX are not directly involved in, is fracking, where it appears that in 2013 US companies spent $11 bn getting water to where they are fracking (often in arid areas) and from where they are fracking to somewhere they they could clean it. I don't know the issues about cleaning water used in fracking, but at some point in the process there must be a need for separating oil and water. The numbers are huge. So MYX is only really scratching at the surface at the minute. The repeat business that they are getting really is a testament to the quality of their technology. Others are getting interested, see the pipeline. The market is already enormous and standards are getting more and more stringent. Even a small share of the existing market would be gargantuan. I have thought occasionally that someone might try to buy them, but I sense that they really do want to build a substantial business before possibly selling. So I don't reckon that there is a catylst to move the share price higher in that respect. It could indeed be dead money for a year or two. OTOH I suspect that there will be a couple of contracts announced to be recognised this half, given their current attitude. Cheers David
lavalmy
12/9/2014
20:21
Much appreciated David. This is a high risk investment. Lots of pitfalls, but it could multi-bag over a 3 year time frame. I have a smallish position and will keep it for now.
stewy_18
12/9/2014
15:40
Hi Stuart A pal cut and pasted this from Numis 'Numis: MyCelx Company Update Trading update flags 2H14 revenue bias MyCelx's trading update flags a 2H14 bias to revenues due to a customer related delays, however, management expect full year revenues to remain unchanged from previous expectations. We take a more conservative view given this bias and potential for some project slippage (we estimate 1H14 revenues of $7.4m and 2H14 $18.8m) taking full year revenues down from $27.4m to $26.3m. The company remains confident in growth of the business given the strength of the pipeline which has underpinned investment in recent new hires and infrastructure. Order flow: MyCelx sold an offshore water treatment unit to a global IOC in 1H14, marking the fourth sale to the same customer and a testament to the company's technology. We understand that trial success is having a positive impact in attracting new clients and new trials are underway with significant oil producers in the North Sea and Oman as well as India. Higher costs impact operating profit: Additional senior hires and costs associated with professional services have led us to raise our SG&A estimates leading to lower EBIT and EBITDA. New senior hires include General Managers in Houston and the Middle East and technical field services. A new warehouse has been added in Texas to accommodate lease equipment for the Americas, and the company's lease fleet benefited from the addition of 12 further skids. 2014 EBITDA moves from $5m to $2.1m, and 2015 from $8.7m to $5.2m. Our net earnings impact is somewhat offset by MyCelx continuing to benefit from the carry forward of tax losses. Net income falls from $2.1m in FY14 to $0.74 and $4.8m in FY15 to $2.9m. Importantly the business remains profitable and the topline continues to grow rapidly. We expect to see strong operational profit in 2016 and beyond as MyCelx takes advantage of the impact of operational gearing and new senior hires. Funding: We forecast year end cash of $5.5m as receivables are collected and MyCelx draws down on available lines of credit. We see year end net debt of c.$0.5m and our forecasts suggest the company is funded for 2014/2015 based on current projections. Valuation: Please find a full forecast break-down attached. MyCelx currently trades at a premium to the OFS sector at 21.4 times FY15 EBITDA. Our price target is DCF based at 450p/share (from 477p/share). We continue to believe MyCelx will attract a premium rating given forecast sales growth of 23% and 41% in FY14 and FY15 respectively.' So jam in 2016, funded for 14/15, dependent on growth rates. My view is that the work done and being done since the IPO has yet to show up in revenues. My pal has sold out, BTW, after the last results. Cheers David
lavalmy
12/9/2014
14:05
I see that Numis have upgraded to buy from hold, target 472p. Cheers David
lavalmy
Chat Pages: 3  2  1
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