Access Intelligence Share Discussion Threads

[longshanks] 10/5/2018 15:17

Tim, did you manage to talk to Ken Wotton at the Mello conference?

[longshanks] 30/4/2018 14:14

Rather astonishing disclosure today that Hawk Investments missed off 10 million shares from their holding notification in February.

[longshanks] 25/4/2018 22:38

I would be interested to know what he says Tim.Buying at 4p with EIS benefits you can't really go wrong here if the Vuelo platform is half as good as the directors seem to believe it is.

[timbo003] 25/4/2018 16:50

I subscribed for a few in the placing and no scale back for me (told this verbally by the broker, but yet to see it in writing).

It's EIS qualifying, so at 4p/share, I couldn't resist.

Very good news to see Livingbridge (Baronsmead VCTs) getting involved, the AIM fund manager for Livingbridge (Ken Wotton) is at the Mello conference tomorrow and Friday, so I will be quizzing him about his latest investment.

[longshanks] 25/4/2018 13:39

Cash raising with a suggested "over subscribed" placing.A new investor in Livingbridge VC putting up £1.15 m for a 6% stake in the enlarged capital.Not sure what investment is required in Vuelo; looks more like a "keep the lights on" fundraising.Still - could be the start of something better.

[longshanks] 02/3/2018 09:40

Pretty horrible reported figures with the annual results posted today but it would appear that the next interim results will show a healthier picture.I particularly like the comment: "From October 2017 onwards, having dramatically reduced our operational costs over the previous nine months we have started to generate cash."

[longshanks] 19/1/2018 08:52

I am yet to be convinced that the Vuelo platform is as great as the directors are saying it is.Still, if the growth in sales continues at an accelerating rate, as they allude, then this could become quite exciting.If so, my re-entry would appear to have been relatively well timed as the price does look to have started appreciating.

[squibno1] 18/1/2018 15:58

longshanks - Recent conversion of loan notes into shares following a reported good year could see more buying other than you and Jackson.

[longshanks] 08/1/2018 15:28

I have been out a while but bought back a few today.Not sure why, but I feel the runes are starting to become more positive. Is anyone else following?

[lewis winthorpe] 22/3/2017 18:28

AI ControlPoint Ltd is a great business with an incredibly talented team that will undoubtedly flourish under the ownership of One Voice AS. We have enjoyed every minute of supporting our customers with their crisis management needs and wish them well under the new owners."I heard that the new owners visited the York office and sacked the vast majority of the staff today. So much for this BS underhand management

[lewis winthorpe] 22/3/2017 08:19

There's nothing left. How is it not bad?A corporate PR company is all that is left of this once tech heavy business.Next movesMove York office to basic small premise.Pretty much a cash shell for a future MJ and JA flight of fancy.All in my humble opinion of course.This one is dead.

[longshanks] 22/3/2017 08:00

I don't think it necessarily bad - just surprising at the timing and lack of detail.

[dgwinterbottom] 22/3/2017 07:53

I always thought that was a jewel in the crown!!!

[lewis winthorpe] 22/3/2017 06:56

Wow that's so bad.

[longshanks] 21/3/2017 21:24

Late day RNS and no details on the financial terms of the sale....what is going on???

[dgwinterbottom] 03/3/2017 13:47

Lewis - thanks for that, you are quite correct the resignation would appear to have been frim AI Track Record. I was aware of the interest in AI by ACC but surprised they may spend so much effort given there is only a 20% holding.

[dgwinterbottom] 03/3/2017 11:57

Lewis - Having spoken to someone very close to the company albeit some time ago it was felt that it would be a long slog but they would get there. In the meantime JA and MJ resigned from the Trailight Board on 1 July 2016, hopefully they felt it would be more meaningful to spend their time with ACC

[lewis winthorpe] 02/3/2017 19:08

The warning sign is no new news in a year. Nothing much left really. I think this one will wilt away. Track record has a better chance or trailight as it's now known but may struggle as JA is on the board of that also.Don't buy into that the management have invested heavily. I would imagine they have taken large salaries at the expense of the shareholder value.Just my opinion.

[geminian] 02/3/2017 17:43

Thanks for your reply DGWinterbottom. I will continue to hold on the hope that some really good news appears in the not too distant future.

[dgwinterbottom] 02/3/2017 15:26

Gemenian - I very much understand your sentiments however given Michael Jackson has invested significantly both company wise and personally I think he would be looking to get a decent return on his investment. Similarly is the case with CEO Joanna Arnold she too has invested a significant sum in the business so I think the incentive may be there to make it a success to some degree.

[geminian] 27/2/2017 17:19

Anybody know if there is ever going to be an upward and improving share price and giving dividends, or is this going to be another one of these Jam tomorrow companies always finding a reason not to move forward?

have held these for a few years now and keep hearing everything is improving without any real corresponding evidence.

[squibno1] 23/12/2016 09:53

Jimbob it appears the ongoing restructuring is not doing anything for shareholder value!

[jimbobtechstock] 14/12/2016 22:53

Nope. WTF happened? Any thoughts? This rate will be back in 2s again...

[wolansm] 17/4/2016 11:02

Could this be the next gbg

[nick100] 14/4/2016 06:57

Access Intelligence – some future value to be had for the patient in the AIM back waters? Read Nigel Somerville


There's only one investor show where really serious investors meet really serious speakers like Slater & Wray - UK Investor April 30th HERE

Noting the disclosure that I own shares in AIM-listed Access Intelligence (LSE:ACC), so I am talking my own book, I was interested to peruse the numbers for the year to November 2015 as released yesterday. The headline numbers look great: revenue from continuing operations up 89%, recurring revenue from continuing operations nigh-on doubled and there was plenty of cash. How do things look beneath the surface?


The first thing which I noticed was that there was no reference to EBITDA to be found anywhere. That sets Access apart from some of the racier constituents of AIM – and the lack of bulletin board activity, as well as the coma-like market activity bodes well. Is this a company in which nobody is interested and thus a potential source of profit for the patient investor?

The hard numbers are that the company saw £3.2 million head! off to money heaven – around 1.55p per share. There was also a net operational cash outflow of £1.6 million and a further £2.0 million outflow from investing activities. This was offset by £1.2 million raised from share issues (including the exercise of options), and £2.9 million raised from the issue of loan notes, to leave the company with cash of £1.5 million at year-end, although net current assets were negative to the tune of £1.2 million.



That doesn’t sound all that promising, but it is not Placing Ahoy for post year-end the company racked up £4.5 million in cash from the disposal of a non-core asset (Due North). The company still has assets on the balance sheet which it is looking to offload, so perhaps there may be more of this to come. Meanwhile, the sale price of £4.5 million represented a multiple of 12.6 times EBITDA and 25 times pre-tax profit. (Oops, I mentioned EBITDA!)

And so to the continuing operations. The company has been undergoing something of a transformation for what feels like an eternity under Chairman Michael Jackson (formerly of FTSE100 company Sage, SGE) and I’ve not really followed it all that closely for some time. From memory, the shares are somewhere around where they were when I bought in.



But here is what interests me: with turnover from continuing operations up by 89% year-on-year and clocking up a gro! ss profit of £4.8 million (vs £3.3 million) before being trashed by admin expenses (£7.3 million, vs £3.9 million last time) and impairments of £1.9 million there does appear to be scope for optimism: one would hope that the impairments will not be an ongoing issue and that the whopping admin expenses might come down.



Meanwhile, if the growth continues in similar vein and those admin and sales costs are kept under control then it does look as though it might not be too long before the company starts to generate cash from its operations, rather than relying on placings, disposals and loans. It won’t be this year, though – we are promised further investment and restructuring during 2016. But we are also told that the full benefits [are] expected to come through towards the end of the current financial year and into 2017.

I’m not saying it is a buy – not yet, at any rate. But Access Intelligence looks like one to watch and research for the patient investor. For those with a taste for researching boring investments which nobody is interested in, this might be a good place to spend some time.