Accesso Technology Share Discussion Threads

[ali47fish] 07/2/2019 10:49

tsmith2-can you indicate the brokers comments

[tsmith2] 07/2/2019 10:44

Happy to be a buyer at these levels

[tsmith2] 07/2/2019 10:42

Investment review - what's wrong with that? Company just reallocating to those areas that promise superior return.nothing wrong with that whatsoever all brokers comments today - positive.thing a large sell been worked, panic sell. Sentiment in tech is frayed at mo but precisely reason why attractive opps are coming up

[qs99] 07/2/2019 10:38

tsmith2 I think you are wrong here mate. £260m market cap it says above, and see how much its EBITDA appears adjusted by capitalised R&D spend IMO....DYOR but with further "review" on investments etc etc, I wonder where all that is going to lead.....am watching and need to do more research, but IMO this is overvalued by a way....DYOR

[tsmith2] 07/2/2019 10:20

Expect a BIG bounce

[tsmith2] 07/2/2019 10:20

the fall is bonkers

[tsmith2] 07/2/2019 10:19

You are talking nonsense

[smithie6] 07/2/2019 10:14

pbt i. H1

£1.085M

or $1.4M

so the one cost of failed acquisition of $1.7M

was bigger than the pbt in H1

clearly the cash generation is not good compared with the high expectations of many ACSO shareholders/fans

and low pbt compared with current cap. value of 277M !

[smithie6] 07/2/2019 10:03

oooh

& someone on the bod made millions by selling shares at any artificially inflated price !!

keeps on happening on AIM

risk of legal claims vs ACSO ?
(or FCA investigation ?)

from big shareholders who have lost lots

recall that Volkswagen etc sued by big shareholders for their dishonest co. conduct in emmissions ...producing big losses for shareholders

[smithie6] 07/2/2019 09:59

post 3385 by Spud

"EBITDA grew by 40% last year"
false info imo

----

H1 results that lfl growth was 11%

11%. not 40%

...all depends on which number one uses & any fiddle factors

with 11% growth in H1 and the shares now priced at about 3x 2017 turnover (about to fall due to new revenue recognition ?)
the shares dont look cheap to me, despite the fall

---

imo the co. claiming that the ticket sales they processed for clients was REVENUE for ACSO (& NOT the client !!)

was imho INTENTIONALLY DISHONEST

& broke the reqt. to provide true, fair & representative accounts.

(now ACSO will just report as revenue their (contracted) cut from the tickets sales they process....producing a step redn in revenue)

[qs99] 07/2/2019 09:59

Think I’m with eezy on this. Personally with so much R&D capitalised each year amongst other issues pointed out I can’t see how this should be higher than £90m market cap + debt. So IMO a third of today’s price. DYOR And maybe I’m wrong but let’s see where market takes it

I also think next update may reinforce the negativity, from which they then need to build from there

DYOR

[babbler] 07/2/2019 09:48

Thanks. I did take some at 10 quid but may have been a mistake then?

[smithie6] 07/2/2019 09:43

...H1 mentions expanding into 3 new areas

today's RNS says we are re-evaluating where/how we invest for the future

imo that is clearly saying that there are dissapointments with those expansions....lower return/growth than expected...& probably higher costs

& H1 reported a fall in eps vs prior year and then this big one off cost in H2, so phps they made very little nett cash overall..or even lost cash..which for a high p/e co. aint gonna go down well.

[spud] 07/2/2019 09:40

Still here Jane and spoken to TB. Nothing sinister in the Update or the accounts. Infact, EBITDA grew by circa 40% last year. More worried about being taken out by a West coast predator at a silly price tbh.spud

[typo56] 07/2/2019 09:39

Also back in October they announced 'partnerships' with Google and Groupon. At the time I did wonder about the possible significance on margins. Perhaps this will come out under the "new enhanced disclosures relating to the Group's operational and financial performance”.

[eezymunny] 07/2/2019 09:36

Was free cash flow c. $11m (£8.5m?) last full year? And c. $2m this first half?

So even after today's 30% fall market cap c. £280m? A 33x multiple of last full year free cash flow?

I guess there's room to go much much lower but maybe Mr Market will be all forgiving and we'll see a bounce...

[melody9999] 07/2/2019 09:33

Eezy - easy to crow about other people's losses. Also easy to be wise after the event. If you were short before today on analysing ACSO's cashflow then congratulations on making some money. If not, why not?

For transparency I hold no position

[mysteronz] 07/2/2019 09:31

A quick refresh of HY results (i know there is seasonality with theme parks) but it was $1.4m so the acquisition costs wipe that out straight away...!

This is tech so always the prospect of someone sniffing around for a takeover

[skatersav] 07/2/2019 09:29

Ps: “no they did not” was in response to q about whether investors knew about failed acquisition.

[eezymunny] 07/2/2019 09:29

What's amazing is the millions that directors have been dumping for years and years. All lapped up by the II's?

[qs99] 07/2/2019 09:25

Eezy that would be my guess. Have been monitoring this to take a position but my hold on for a fiver as market IMO is telling us that it expects Lower normalised profits in future DYOR

[typo56] 07/2/2019 09:21

I've not been following in detail but did investors know anything before about the "significant and well-advanced acquisition opportunity" which was utimately terminated in October last year?