Accesso Technology Share Discussion Threads

[eezymunny] 11/2/2019 16:07

Exec chairman steps down and they say "will also set out a number of new enhanced disclosures relating to the Group's operational and financial performance".

Put it this way....I wouldn't want to be long til that's out of the way!

[hazl] 11/2/2019 15:58

Put it this way ...I wouldn't want to be short myself at this point.

[hazl] 11/2/2019 15:33

It will find it's turning point soon enough..
there are so few shares in issue that the swings in share-price are more dramatic both up and down.

[smithie6] 11/2/2019 15:32

2017 annual. Adjusted EBITDA (co. accounts) = 24.6M$
---

nett benefit in H1 due to capitalising more costs than amortising cost number in the $ profit calc. = 7.7M$...up from 3.3M$ in H1 2016

a big jump and that 7.7M$ would I think make H1 loss making !! if put in to the profit calc.
----

total liabilities 69M$
total assets (excl intang. assets and tax asset) = 41M$

shortfall of 28M$

no so pretty imo

(and noting that liabilites can not be paid using chunks of intangible assets....they are not dollar notes)

[tsmith2] 11/2/2019 15:17

Smithie6 you are getting increasingly desperate

[togglebrush] 11/2/2019 15:16

FWIW
'
A sign of the times
'
Date_______Time_______Price___Share__Value___Deal
11-Feb-19___14:41:18__730.00___1 ___£7.30p___Sell

[smithie6] 11/2/2019 15:13

2016 PAT 7.5M$ (but after capitalising many costs. PAT without capitalising costs = ?)
2017 PAT 9.9M$ but after 2.7M$ tax one off
so...= 9.9 -2.7 = 7.2M$

(but after capitalising many costs. PAT without capitalising costs = ?)


----

and 7.2M$ =5.6M pounds

cap. value now = 200M pounds

p/e (adjusted version 21 !!) = 200 / 5.6 = 36

36 !

(and if one adjusts for capitalisation of costs (ie moving COST various items OUT of the calc. of profit) then that p/e number would be much worse and more expensive.

[tsmith2] 11/2/2019 15:11

ie. the mkt is really really unhappy with this company UNDER HIS LEADERSHIPLol!!!

[tsmith2] 11/2/2019 15:09

https://accesso.com/assets/documents/2018-Interim-Results.pdfgoes through impact (little net impact) of IFRS15 in great details In 1H 2018 they paid $10mn final earnout payment to Ingresso vendors..

[smithie6] 11/2/2019 15:06

just watched the Edison interview with the ex exec. chairman

imho he sounds far far too much like I would expect a marketing director to sound

and since the share price has gone from 30 quid to 7 quid in 2-3 months

ie. the mkt is really really unhappy with this company UNDER HIS LEADERSHIP

and that person has stepped down


and he became a millionaire by selling lots of shares at 22 quid


I think you can take anything he says and throw it in the nearest bin !!


----

and personally I dont like ANY company promoted by Edision
(Edison charge cos. to promote them)

Where Edison not one of the companies that promoted GLOBO as well ?
turned out to be a scam.

And Trak ?
another share price collapse. and questions about cash generation

[smithie6] 11/2/2019 15:01

eh no

_____

you might get a multiple if you compare the share price with
adjsuted EBITDA version 3 !!

the official report profit is peanuts

[skatersav] 11/2/2019 14:59

The more money an AIM company is likely to need, te more bullish the sell side becomes (and the less cynical). I would not rely on their financial projections.

[tsmith2] 11/2/2019 14:27

Prospective PE of 8.5!

[tsmith2] 11/2/2019 14:21

Can someone put this is in the header https://www.edisoninvestmentresearch.com/edison-tv/clip/executive-interview-accesso-technology-group2

[tsmith2] 11/2/2019 14:19

Yes, broadly.have a listen to the interview provides a lot of insight into growth opportunities. Also having listened to it I think we should get news v v soon on new partnerships like the google/groupon..ticket aggregator across leisure and entertainment industry, nice niche

[spud] 11/2/2019 14:16

So to summarise: 1. Revenue drop due to the new accounting rules where a significant contract (Universal?) cannot have all their contact revenue lumped as revenue, just ACSOs share of that revenue. 2. F/cast profit is slightly below expectations (although barely enough to make it worth mentioning). 3. The one off advisory charge of c$1.7m, due to an abortive t/o attempt, will impact the bottom line. Without this charge, the Company would have near as damn it have met f/cast expectations. That's my take home and if correct, shows a massive overreaction by the Market, which could have been avoided with a little more care and attention in the t/u. spud

[hazl] 11/2/2019 14:10

Well its less of a gamble than it was in August in my opinion.
Got a few,so sit back and settle into
Wait and see mode.

[tsmith2] 11/2/2019 14:08

Numis forecast net cash to be $28mn FY2019 jumping to $52mn FY2020

[tsmith2] 11/2/2019 14:03

yawn. Carry on

[tsmith2] 11/2/2019 14:01

Excellent find. Everyone should have a listen, gives a feel for what to expect on investment prioritisation and also the rude shape the company is in.

[smithie6] 11/2/2019 13:54

"revenue...gone backwards a little bit"

not true imo

IFRS15 has reduced turnover a big chunk
----

exec chairman....leader of the co.

steps aside after big share price fall & with new news that chops the share price again

to make it 1/4 to 1/3 of what it was

imo him steeping aside is
- related news
- big news
- putting into doubt the acquisition policy he has driven over recent yrs....coupled with capitalisation qu (& qu of capitalisation within acquisitions) & question over whether co. overpaid for any acquisition
- creating qus about him selling half his shares at 22 quid to become a millionaire...while shareholders have lost most of their money wrt £22 or peak of £30.

& cant be viewed as irrelevant

[sammu] 11/2/2019 13:47

So Peel Hunt highlight three points in the trading update that should give "comfort". Since the trading update, in a few short days, the shares have approximately halved.
So PH - not quite the "comfort" you were expecting!?
Long

[1001011] 11/2/2019 13:40

Tom B. did discuss their accounting two week agos. See video 2 with respect to IRFS 15: "Underneath the revenue line, we haven't seen any impact to any of our profitability or anything sitting underneath the revenue line, but on the revenue line, it looks like we've gone backwards a little bit." -

And Tom B.'s decision to lessen his involvement in the business isn't rooted in anything that developed in 2018. He moved from CEO to Executive Chairman in May 2016, which lessened his day-to-day responsibilities. That was where it started.

[smithie6] 11/2/2019 13:27

down 2 quid this morning....bounced 1 quid...

but

it bounced/moved up/down by £4 after its fall to ~£15

bounce buyers at that time have lost half their money !....so it can be a v risky idea !

----

it bounced a bit on Friday but then went back down again

[smithie6] 11/2/2019 13:24

overhang...

5% Blackrock alone ?

5% of ~ 200M
= 10 M quid

a lot for PIs to try to take up ...if buy 2k pnds each it would need 5 thousand buy trades...more than sell trades

asking a lot

---

who knows what the share price will do or what any new RNS may say