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TDM 3DM Worldwide

5.19
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
3DM Worldwide LSE:TDM London Ordinary Share GB0030949472 ORD 2.5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 5.19 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 5.19 GBX

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Date Time Title Posts
03/7/201614:223DM Worldwide - Superstock??23,347
24/8/200721:20THE WORST IS OVER. TIME FOR A LOOK ??121
25/7/200715:223DM with Charts & News265
12/10/200615:503DM Worldwide, a true world beater.100
15/9/200514:002005 3DM Worldwide Thread : Open for Business718

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3dm Worldwide (TDM) Top Chat Posts

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Posted at 17/8/2007 10:37 by tom howard
goatherd - 3 May'05 - 12:09 - 11185 of 18242

This is a report on my visit to the TDM facility in Wales on Wednesday. I signed a confidentiality agreement, and so am picking my words with care. If I get it wrong I hope some of you will visit me in prison! The visit was really technically orientated – very little financial content – although it was clear that all ten shareholders there thought that the prelims did not do the company justice.

Some people say TDM is paranoid. As far as the technical and IP side is concerned this is with good reason. Let me give you an analogy. Suppose you invent a wonderful new way of cooking eggs – "frying" – this you patent. So then you start developing the idea. One day you are experimenting with adding fried bacon to the fried eggs. A visitor to your kitchen sees this, and decides to patent it for his own benefit. At the very best this will be an expensive time waster, at worst you may have to pay license fees in order to be able to sell fried bacon with fried eggs – license fees for what was in fact your idea. This is, of course, similar to what happened between BPRG and SEO.

TDM have excellent patent protection on the basic PIM process, but as they develop the process they make new innovative and patentable discoveries. It is extremely important to them [and us] that no one else patents these discoveries and thus hold TDM to ransom.

This probably explains the limited number of shareholders that have been shown round. The company [or its brokers] need to be aware of the identity of people being shown round so that they can be sure the confidentiality agreements will be honoured. Many execution only internet broker clients are, of course, barely known to anyone.

The building is well suited to house the alpha and beta, though I do not think it would house two alphas. The power supply is at present inadequate and is being augmented by a large generator. This appears to be down to the local power supplier whose responses are very slow. I thought that was purely a characteristic of Eastern Electricity – but apparently not! The power requirement is very substantial, even though the ovens are gas fired. The loos were the cleanest I have ever seen in any factory – always a sign of good management! Only filthy skylights [external] revealed that it is a refurbished building.

The alpha dwarfs the beta in all respects. It is an immensely impressive piece of kit. Personally I would not like the task of selling a beta to anyone who has seen the alpha. Constructional standards are all one could wish for; the instrumentation is superb. The 400' long plant is operated by just three staff – working at the end remote from the robots and they do not need to walk along the machine at all – everything can be seen on cctv systems. The plant is designed for 24/7 operation with maintenance operations such as lubrication being fully automatic. It clearly has a minimum ten year life – though I suspect will be run for longer. Unfortunately we did not see it running, but saw a robot filling moulds. The machine operating specification has been made very flexible – for example temperatures can be much higher than would be required for basic ingredients, so that engineering grade plastics can be accommodated if necessary. This, of course, accounts for what some people are describing as a "cost overrun".

The original customer for this machine was contracted to allow TDM 50% of the operating time for the first six months. However there were several problems with the site chosen by the licensee. The site was not in good condition, and was unsuitable in some respects, like the available power supply. Also the licensee was reluctant to allow extended testing on other prospective licensee's problems. [and security would have been an issue in some cases] This changed the game plan; and demand for prototyping and toll manufacturing was such that TDM wanted more than 50% of the capacity anyway. Therefore the plant now belongs to TDM, and has been financed. However in due course there is a licensee who will buy the existing alpha, even in its higher spec development state, for the full cost.

This nicely illustrates that TDM is right at the start of a very high potential operation. Plans are bound to change as circumstances change and licensees can also change their objectives – and can be much more dilatory than we would like. Some are not; they are impatient, but hopefully realise the importance of careful testing and commissioning.

I find the way in which this technology and machine have been designed, developed and built in such a short time to be an enormous credit to the management responsible.

OK. So I believe the technology is wonderful; but will it sell? Last year I made cost and profitability estimates [for fence panels – inherently low value] which indicated a pay-back period to the licensee of under 12 months. My visit enabled me to verify some of my assumptions, and the figures are, if anything, better. When I plug some higher value products in, the pay-back is only a very few months. Once this becomes known to industry the demand, from anyone who has suitable markets, will look after itself. A pay-back of less than six months will excite any manufacturer.

The ability to use waste materials is important in getting these very good pay-backs. However the system does not depend on them, it is should still be very profitable using virgin plastics; which may have to be used in some countries for consumer acceptability reasons. However the PIM process will make, as it is taken up, major inroads to the ever increasing waste disposal problem.

I am sure that TDM will prosper mightily, and its shareholders with it. This is, however, from the viewpoint of a long term investor. What will happen in the trader's timescales is a mystery to me.

Richard Dawson
Posted at 16/8/2007 20:03 by eastod
I can't believe there are shorters still inhabiting this thread. Christ guys look at the share price in relation to the macro environment??? We have gone up! TDM obviously has got heavy institutional support and you're all fiddling here (quite possibly literally in the case of Guilty) whilst Rome is burning around you. I suspect all your talents might be put to better use elsewhere.
Posted at 01/8/2007 15:04 by bluebelle
rochdale

It was one of my old posts I cut and pasted from a few years back !!! That's the great thing about TDM : no original thought is ever needed : the only thing that changes is the date (oh, and the share price, normally downwards !)
Posted at 01/8/2007 10:54 by bluebelle
Seems to me that this deal is just more of the same. The plain fact of the matter is that companies cannot exist in the long term without more cash coming in than is going out, a simple fact which seems never to have impinged on the thinking of the people who are really running this company. Those people -incredibly - have not changed since the blue sky days, other than that PA - who always struck me as the ultimate example of a guy who thought he had built a better, well the best, mousetrap and was happy to wait for the world to beat a path to his door - is no longer involved day to day.

Instead of focusing on sales and marketing the focus has been on doing intellectually satisfying, legally clever, predominantly incestuous deals from which those who were party to the incest stood to benefit rather more than other PIs. The thing they overlooked was that no matter how much you dress things up, without sales you're stuffed, unless of course you can sell the IP to some one who thinks they can sell it for more than you personally paid to generate it (by using shareholders' funds to do so for you for example!).

It's up to anyone to do what they want with their own money, but my take on the current situation is that this is an even more speculative investment than it has ever been, the only difference perhaps being that the risk is more transparent. The time to buy, if it comes, will be at a much higher price from now IMHO, on the basis of some conventional sales and profit figures. If they manage that, there will still be plenty to go for in the share price. If they don't....................................

















....is it finally time to say 'good bye' to an old friend.................
Posted at 09/7/2007 09:15 by melony
I sometimes wonder if there is any other AIM listed company that has been so badly run as Tdm, in terms of shareholder value. Tdm seems to have given up all hope of survival, and it's simply waiting for its executioners to carry out their judgments. I wait with keen interest to see if another British innovative company would be sent to the gallows for perceived self inflicted injuries. The company is being sold for peanuts. Shareholders are being diluted to minority stakeholders with endless issue of shares and the company is run in the interest of creditors and market makers. The share price should end the in the negative, for a contract win. The company is being punished for making survival attempts, a sign of very weak management, unable to make a firm stand. Shame!
Posted at 15/5/2007 06:51 by potem
Quinnn : None save for the information given in the rns on the sale of Bedwas ("This negative consideration is in lieu of a 30 pct royalty payment on all
EPT's revenue generated from the PIM process from the date of completion.")

The lack of figures is part of the risk (IMO) of investing in small growth companies in their early years. Many of the go bust or fail to grow. I have been very careful to repeatedly point out that this could happen to TDM whose finances are more precarious than many.

The bulletin boards are full of posts where posters challenge valuations on the basis there are no revenue figures. My portfolio contains (amongst other critera) investments based on peg ratios (eg jlf, sgi, ambr) and those of a more speculative nature (eg viy, ggg). VIY in particular has no figures to support its valuation, but I feel comfortable with my substantial investment there (without wanting to disclose my actual holding, suffice it to say I hold over 1m shares) although I am the first to admit it is not for widows and orphans. My TAN holding was in this category for a while, but is becoming more transparent. I have no doubt that many in 2005 said it was stupid to invest in a manufacturer of electic milk floats, though that was before my time.

If figures were the only basis for investment no-one would ever invest in a mining exploration company. Very few of these ever get to production and none are supported by risk-averse investors. You can`t even begin to assess income until the drills let you know what is probably (I use the word advisedly) under the ground, yet they find funding.

To return to your question: I expect revenues to be paifully small to start with but to have the ability to rise to considerabe amounts IF the product becomes accepted. The market is driven at the moment by companies wanting to demonstrate their green credentials and government pressure adds to this (particularly in the construction industry). Whether revenues grow quickly enough to allow TDM to survive is a very valid debating point. That is why the share price is as it is. It is at the level that investors are currently prepared to gamble (all investments are a gamble, it is a question of assessing the odds and I think the odds here are long - it is no more than a hunch).

Although I have a reasonably large holding here it represents a small part of my gains this year alone in TAN. If I lose the lot it will at least reduce my CGT liabilities. I would not advise those who cannot afford to lose ALL of their investment that now is the time to invest in TDM. They should wait until your question can be answered with proper figures.
Posted at 09/5/2007 23:17 by ch1ck
I met with the company a few years ago at a plastics convention in Birmingham and was impressed with the management and staff who seemed very committed to the product and company. I could see the masive potential of this process that utilised waste plastic material.

Since then I have watched as the share price drop lower. This year things seem to have changed and the company looks to have turned the corner having made some dificult desicions.

The recent increasing volume spikes are very positive and the brief move through 10p showed that there was life in the old dog yet. I recently started buying more stock and think this has the potential to do extremely well. It has all the hallmarks of a stock about to move: it has an market leading product in an area (recycling and waste ) which is very much the hot topic at the moment. The share price is very depressed at the moment and is well known to the City and investors (it was voted one of the worst performing stocks last year).

For what it's worth I predict this stock will start gaining momentum most of the sellers, shorters and derampers are spent and if the company can back up its potential I can see 20p per share in the near tearm and 50p plus in one year.

Lets see
Posted at 21/2/2007 13:35 by potem
Joyridder : Yesterday you had a diferent view on how the share price behaved :

joyridder - 20 Feb'07 - 11:10 - 21867 of 21990

TDM has a tendency to run a seven day recovery, this could be going up all week. Who knows this could only be the beginning.
MM just bought though disguised as a sell, last to lift the share price as a buy.

20p looks certain by Friday.
Posted at 21/2/2007 13:34 by silent_angel
TKoN, cool, np.

Top 5 objections.

I didn't think it was in any tye of viable commercial production at all?
Good point, I will amend to the following.
- The Patented process is not in commercial production yet.

Re: The 3 contract wins so far this year are not yet providing Royalties.
"And,given previous history, may never."
- as you would say, going by previous history is completely pointless.
- I would ask which is more likely, that the people who bought licences will go on to use them and produce? (giving TDM Royalties in the process) or not?


Re: There are no dividends being paid yet from this company to shareholders.

"And there aren't likely to be for goodness knows how long."
Good point, so we don't expect dividends, it depends if investors want dividends from the shares they pick or they would like the fact that they don't priced in to the share price.

"There's no growth either."
There is forcast growth.

- The company is not yet in profit.

Good objection that in my view.
Yes, it is, generally speaking it makes it a riskier share to buy.
The fact should be priced in at the current share price. It does not however suggest how much or how steep the share price might rise (or fall) in the future.

- The past history of the share price does not guarantee future performance.

"It certainly doesn't but that doesn't mean that a turnaround can't come along. My point was that saying the price rose by a 1000% in 2003 is totallu pointless."

Looking at the past history of the share price does not guarantee the future share price, but I suggest it is one of the first things that people look at when deciding whether or not to buy or sell. And I think you will agree, The historic share price is definately something to keep in mind!
Posted at 21/2/2007 12:44 by silent_angel
joyridder,

Good luck in hoping that the current share price breaks the current uptrend, I for one have evaluated the chance of that not happening and not being able to buy at the level you suggest, the chance of it going up again and the chance of missing out on a great opportunity if you don't buy now.

Top 5 FACTS about TDM
- Own the unique patented process of making lower cost, recyclable plastics.
- Royalties from licences will be easy to maintain income in the long term.
- One Broker reccomendation, strong buy, predicting positive cash flow in 07.
- June to Nov 2003 the share price went from 13.5p to 197p..1359% in 100 days!
- News out 3 contract wins so far this year proving they do have something!
3dm Worldwide share price data is direct from the London Stock Exchange

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