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Real-Time news about Timestrip (London Stock Exchange): 0 recent articles
|59david: This is not the first company to run into funding problems in the last year. To my mind it does not follow that they have completely failed - just that they have not persuaded anyone to invest and provide them with sufficient working capital to enable them to continue. It does appear however that unlike in most cases the directors have held their hands up before they go bust to publicly state that they need external investment and are hence open to all offers which must increase the chances of someone coming along rather than if they continued to talk to current investors and potential investors that their advisers know. In other words I don't think it necessarily follows that the shares are worthless and there must be a real possibility that there will be some value for us all here. The challenge is how high that poissiility is but this is the reason why some people might be buying at this time. I held shares in another company (name escapes me at the moment) which announced it was in a simpimar position and people piled in at under 1p and within weeks they managed to sort themselves out and the share price got to around 10p so don't give up hope yet|
|gogoneko: Paul Augustus,
As I've mentioned previously; even if a placing is necessary then while annoying/disappointing/unsurprising(!)/etc it shouldn't be too damaging (unless the share price collapses prior to any fund raising) as I'm still hopeful that revenues are improving such that the company isn't losing as much money as it used to and should not therefore need to raise very much.|
|59david: I think reality is market in TIME shares has become much more liquid and hence one can easily buy or sell in blocks of half a million or so without it having a dramatic impact on share price which I feel is a good thing. It wasn't that long ago when a trade of this size could have moved the share price by 10%|
|59david: Not sure its critical either way. My gut feel is that we are likely to get more good news on their medical products over the next few months as a result of which I tend to agree with you that either they will not need to raise more money or if they do it will be a relatively small amount at a decent price. I really do believe that we will look back at the last month or two as missed opportunties to top up at what will then look like a steel of a price. Based on the information provided at the AGM the products now being pushed have good margins and hence could dramatically change the prospects for the company. Personally I will certainly be looking to see if I can free up some cash to top up yet again before the share price moves up further so any short term weakness is fine with me as I am here for the long term|
|rkhl: Very low liquidity here moving this share price - I can only see 3 buys this morning after this news - although I can't see PLUS trades. I guess after the disappointments most people have left this share for well alone for the time being.
Could have done with a bit more meat with this RNS - like how how many sales this will translate into with this deal. Anyone know the margin for this product - is it very small, meaning they need to sell millions of it.|
|sagem: NOT BAD AT ALL....
Timestrip plc, the Hitchin-based smart label producer, reported a 280 per cent increase in its revenues for 2008, but was unable to specify when it expected to move into profitability.
Reporting its results for the year ended 31 December 2008, the company said it made good progress as 2008 advanced, particularly in the second half when revenue was four times greater than H2 2007.
Revenues reached £673k (2007: £177k) and pretax loss was lowered by £400k to £1.3m (2007 loss: £1.7m) as the company achieved consistent increases in its average selling prices and gross profitability, coupled with a reduction in overheads, despite the detrimental impact of sterling's weakness on its overseas manufacturing cost base.
The results represent strong progress for the firm which in the first half of 2008 sought a £1.16m shares subscription to generate enough cash flow to keep the business running.
Since the year end, Timestrip has strengthened its cash resources with two further share placings, raising £1m and taking its cash position to £812k (2007: £834k).
"There remains a clear focus on reaching the key milestone of profitability as quickly as possible," said Timestrip chairman, Stephen Oakes. "Accordingly we are concentrating our resources on the products and markets that are capable of yielding profitable orders in the shortest possible timeframe.
"With a stronger balance sheet and a greater range of products we look forward to continued progress during 2009." Timestrip's share price rose 5 per cent, up 0.08p to 1.58p a share.|
|gogoneko: As I'd hinted at the beginning of the month regarding obtaining a suitable deal for Timestrip on the cannulae I've actually taken a small punt on the Vygon deal being good enough to raise enough revenue for them to reduce operating losses in H2 and beyond to enable them to survive beyond my previously anticipated 12-month timescale before needing another fundraising - so I'd expect that to provide some support to the share price. I'm not talking profitability, but if the concept catches on and they can work an extension to the deal to include supplying non-UK operations then that would be a possibility.
That's still not to say that I'll suddenly change my tune about some awful H1 numbers appearing which may hit the share price, nor that I have any real trust or confidence in the management to deliver, I'm just gambling that they'd have to be amongst the worst management ever not to turn this into a reliable revenue stream.|
|gogoneko: Some probably have done very nicely, but they're very likely the diminishing minority.
How about the following reality - read the below from almost 4 years ago.....
11 October 2005
(`Timestrip' or the `Company')
Placing to raise #2.4 million
The Board of Timestrip plc is pleased to announce today that it has successfully completed a Placing of 40 million Ordinary shares of 0.02p per share at 6p per share to raise #2.4 million. The Placing was with 5 institutional and professional investors, including HealthCor Management, a US based investment management company, focused principally on global healthcare and life sciences.
The placing price of 6p represents a 22.5% discount to the closing price of 7.75p on Friday 7th October and compares to an average closing price of 6.23p over the last 21 trading days to that same date.
These new funds complete the Company's funding requirements outlined at the time of its introduction to AIM via a reverse take over and will underpin the Company's R&D and development work for the foreseeable future as it makes rapid progress in commercialising its patented smart label technology.
Paul Freedman, Timestrip's joint CEO commented:
"I am delighted with the progress we have made to date in our key international markets as well as the continued from support new and established investors. We now look forward to driving forward our commercialisation strategy."
The new Ordinary shares will, when issued, rank pari passu with the existing Ordinary shares in issue and application will be made for these shares to be admitted to trading on AIM.
.... and now look at the terrible performance to date almost 4 years later from the most recent interims and the current dismal share price (1.65p) having touched an all-time low a couple of months ago. Now that's reality!:
Turnover for the six months to 30 June 2008 was £267,572 (30 June 2007 - £109,647). At the pre-tax level the Company recorded a loss of £625,649 (2007 - (loss) £657,404). The resultant loss per share is 0.19p (2007 - 0.21p). The company had cash resources of £0.9m as at the end of June. An additional £0.56m was raised through a placing of new shares in July 2008 , at which time the Company entered into an unconditional put option agreement allowing it to raise, in the future, a further £0.44m through an additional placing of shares.|
What planet are you on. With share price currently trading in the 1.75 to 2.2 range why are you talking about "yet another dilution" when the company takes advantage of the strong share price to raise money at 1.5p per share - strikes me that this is not that significant a dilution and most shareholders will be happy. Whilst I am sure many of us would have liked to be able to participate at this price the reality with AIM shares is that it is never cost effective to do a rights issue as opposed to a placing. My view, for what its worth, is that this issue should not result in share price being held back in future|
|sagem: LOOKING VERY GOOD
3663 to stock the Timestrip food safety system
AIM-listed food safety specialist Timestrip, is celebrating after 3663 First for Foodservice, the major foodservice distributor, agreed to stock and distribute the Timestrip smart labelling system.
Timestrips are patented disposable smart labels that monitor how long a product has been open or how long it has been in use. They can measure elapsed time from minutes up to over a year.
In recent months, Timestrip has been working with a number of contract caterers who supply services to the UK care home and education sectors. It said the trials had confirmed that Timestrip is a marked improvement to existing food safety systems, which typically involve either hand-written labels or the application of colour-coded labels.
Wednesday, April 09, 2008
For more Company information and share price data click below:
Timestrip plc has developed an inexpensive and versatile technology for accurately measuring lapsed time. Timestrip's smart labels contain a liquid which migrates across the label, enabling users of perishable food and other products to monitor for how long an item has been open or in use. The technology can be implemented as an external label or can be fully integrated into products and product packaging. The Timestrip technology is relevant to a wide range of food and non-food products which, once opened, should be used or replaced within a recommended time. Expiry dates feature prominently in the following mass markets, which Timestrip actively targets: Food Retailing, Catering and Food Services, Consumables, Pharmaceuticals, Medical Devices and Cosmetics. Timestrip's main route to market is through supply and license agreements with manufacturers and packaging companies who will integrate Timestrip labels into their products or packaging.|
Timestrip share price data is direct from the London Stock Exchange