Access Intelligence Share Discussion Threads

[lewis winthorpe] 05/3/2012 16:51

Good day today, I suspect more of the same tomorrow with jockeying for positions in lieu of results on wednesday.

Exciting times.

Looking at the values paid for core companies and the cash in the bank these are seriously undervalued IMHO

L.

[glasshalfull] 03/3/2012 14:29

That's the header updated with an image of the AI Risk Control Suite profile and links to the various subsidiaries.

Regards,
GHF

[glasshalfull] 03/3/2012 14:10

I've provided a direct link to each of the businesses that comprise ACC, which is now known as the AI Risk Control Suite and I'll add it to the header: -


PROTECT AGAINST RISK

AI Talent - Compliance Training and Learning Management Solutions (formerly Cobent)




MONITOR RISK

AI Procurement or Due North - eSourcing and Contract Management



AI TrackRecord - Compliance and Business Performance Solutions for the Financial Services Industry (formerly MS2M)




REACT TO RISK

AI ControlPoint - Incident Management Software (formerly a Solcara Division)



AI MediaComms - Media Relations Management Software (formerly Solcara and Ether-Ray)



Includes Vuelio, Newsflash and Spotlight product suites


DELIVERY

AI CLOUD or Willow Starcom - Hosting and 24/7 support




Regards,
GHF

[glasshalfull] 02/3/2012 20:27

Evening cfro. Good seeing you giving these a look.....not one for the Zulu board though ;-)

Have you read the AimZine article? Worthwhile giving it a look if you've yet to do so and then having a quick look at the "Investment Case" I posted in the header. I've not changed my opinion here.

I reckon that they will achieve £0.5m PTP in H2 2011 so I don't think that £1.2m for 2012 is optimistic. They won't have Cobent restructuring costs & this figure doesn't factor in either a positive or negative contribution from Cobent (renamed AI Talent). They also have that lovely cash pile of £4.1m (versus a £6.8m market cap) that will hopefully be put to good use and certainly provides some support for the share price.

It is worth noting the intrinsic value in the other businesses.

For example ACC bought Due North (renamed AI Procurement) for £1.5m in 2005; MS2M in 2006 (renamed AI TrackRecord) for £1.95m; Ether Ray for £1.7m in 2009.

I'm sure that these businesses and the remaining Solcara businesses plus original ACC businesses that includes Willow Starcom are worth more than the EV of ACC by considerable margin.

Hopefully the company will provide further clarity on Wednesday and if they remain on track to deliver £1.2m this year then they are good value IMHO.

Regards,
GHF

[cfro] 02/3/2012 18:34

Hi GHF,

Just taking a look here. BTW well done on getting a fill at mid-price, these are obviously a very illiquid share and would be difficult to deal in any size at any time i can imagine.

Those forecasts of PBT £1.2M and eps of 0.37 seem a little optimistic to me. What does it actually assume? Cobent is obviously a weight and exactly what other of their businesses are delivering growth to outway the losses?

I see three or four years back these were trading at nearer 8p but imo its going to take an enormous effort on behalf of the management to get the share price back up there. I can imagine there must be quite a few disgruntled original shareholders who are not best pleased here.

[glasshalfull] 02/3/2012 16:55

EDIT - to last post.

My broker picked up the other 50k @ mid just prior to close.


Regards
GHF

[orado] 02/3/2012 16:09

A bit worrying this keep dropping just before results.

[dgwinterbottom] 29/2/2012 13:04

GHF - I share your sentiments - remembering also the fact that Michael Jackson bought a further 400k just before the close period!!!

[glasshalfull] 29/2/2012 00:05

Well, a week to results and hopefully an indication that they are performing well for the first 3 months of the current year.

Aimzine have kindly allowed me to post a small piece from the recent article which I feel provides a few pointers, especially in relation to an improvement in trading in relation to that problem child...Cobent.

"A high proportion of the Group's revenue is from longer term contracts. These contracts are 3 years in length, but can extend to as much as 10 years.

A key factor in meeting forecasts for 2012 will be the performance of Cobent. The Chairman is pleased with progress here in recent months and the business pipeline is growing. Although he indicated that it may take some time to build sales in this business. The 2012 forecast for pre-tax profit of £1.2 million includes no contribution (negative or positive) from Cobent.

The forecasts above obviously make no allowance for future acquisitions and yet, with a large cash pile, it is likely that the Group will make further purchases. When I asked the Directors about further acquisitions they indicated that they have no immediate plans but will be considering their options in a few months time. They did say that their sector is currently expensive to buy into and that they would be very careful to ensure that they achieved value for shareholders in any future purchases."

We'll know more next week.

Regards,
GHF

[lewis winthorpe] 24/2/2012 15:59

Does anyone understand the 3.0 trades over the last week

250k
250k
140k

surely they would knock the price or are they filling an order?

L.

[lewis winthorpe] 17/2/2012 10:54

Beaten to it, could be the start of the next leg up.

L.

[lewis winthorpe] 14/2/2012 15:08

Results 3 weeks tomorrow.

I will be investing a little more of my hand earned after pay day.

hopefully these will be this cheap by then

L.

[nick100] 14/2/2012 11:38

I use TD waterhouse

[lewis winthorpe] 14/2/2012 09:18

Nick,

Thanks, who is that with as I cannot get any quotes from HSBC?

Thanks
L.

[nick100] 14/2/2012 09:16

I tried to buy 50000 to-day,and I was quoted at 3.67

[lewis winthorpe] 14/2/2012 08:49

I am always interested where the mm stock comes from. There was nothing for 3p the other day and now there's some at 3.3p to be had.

Do the mms maintain book values over a range?

Anyone got the online limits to hand?

L.

[dgwinterbottom] 13/2/2012 19:11

Lewis - many thanks, my thoughts as well, was interested to see if there might have been other reasons.I take your point re the forecast without Cobent, if Cobent performs well the figures could be very impressive.

[lewis winthorpe] 13/2/2012 11:41

Bad due diligence and/or mislead before purchase IMHO. Hence the return of the shares.

L.

I think the key is forecasting £1.2million without Cobent in the equation.

[dgwinterbottom] 13/2/2012 09:29

GHF - many thnaks for your efforts in setting up the new thread! Reading through all the articles however and having posted the question before I am still at a loss to understand what went wrong with Cobent has anyone else had thoughts or information since as to what may have gone awry?

[lewis winthorpe] 10/2/2012 14:07

Orado,

Feeling more optimistic or waiting to exit?

L.

[orado] 10/2/2012 13:54

Welcome nick

[nick100] 10/2/2012 13:38

Took the plunge and bought 200000

[lewis winthorpe] 10/2/2012 11:46

nick, seems reasonable for this illiquid share that's way undervalued.

Results in a few weeks and I'm expecting 4p+ by then.

L.