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 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

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Date Time Title Posts
14/12/201512:30MyCelx - Oil-Free Water Technology65
31/12/200011:19the site can't find epic MYX3

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Mycelx Di Daily Update: Mycelx Di is listed in the Oil Equipment Services & Distribution sector of the London Stock Exchange with ticker MYX. The last closing price for Mycelx Di was 35p.
Mycelx Di has a 4 week average price of 35p and a 12 week average price of 32.42p.
The 1 year high share price is 37.50p while the 1 year low share price is currently 15p.
There are currently 18,631,780 shares in issue and the average daily traded volume is 140 shares. The market capitalisation of Mycelx Di is £6,521,123.
lavalmy: 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: Hi Stuart I was waiting until they put the presentation on the website - they haven't yet, and maybe are not going to do one, nor a roadshow, as the credit line (10mn not 100mn) gives them adequate funding. As you say, they will have to move smartly to hit their numbers ($27.36 mn per Numis in March), so more like $20 mn - something of a stretch, but they were non-commital in the results, so maybe they will, maybe they won't, doesn't look like they know yet. BUT they said 'We are well-positioned to execute further opportunities as we convert our growing new business pipeline which contains some substantial revenue prospects for the second half ...' I.e. non contracted business might well drop into this year, as well as the contracted and normal media sales. WRT to media sales, I think you misread it slightly. She said that seven projects would become operational and those seven would generate an additional $3.5 mn, conservatively, of media sales p.a. I tend to use four times sales on the back of my envelope, so in the context of a £50mn Mcap, it is indeed material. More broadly though, it does not look to be long before the contribution from media sales will cover all the (increased and still increasing) cost base, maybe the end of next year? And you have to remember the long lag between incurring the costs and generating the sales (yet another reason not to think about p/e ratios at this stage). You reckon 2015, my money is on 2016 for serious lift off, but what the heck! The $114 mn pipeline, and its rate of increase, is indeed eye-popping. Media sales of say 1/3rd would be near enough $40 mn p.a. Of course, I would expect the pipeline to carry on increasing, though not at that % rate, and eventually the sales cycle to reduce, as well as increasing recurring media sales. Even more broadly, they seem to be doing all the right things. 'We believe the path to long term success and building a global brand is achieved by engaging in large projects which build global recognition even though timelines can be long.' That is the right sort of thinking, though like you they probably would have wanted and expected quiker progress. I, for one, am not even dreaming of getting out, indeed, if the share price stays dull and couple of other investments come to fruition, I would be tempted to add. I don't think the brokers work that quickly. I will see if I can get the latest when it comes out. N+1 Singer also cover MYX, and allegedly have higher numbers than Numis. Cheers David
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