Accesso Technology Share Discussion Threads

[greyingsurfer] 25/2/2019 16:53

There's no basis on which you can claim they were intentionally misleading when they clearly specify both underlying growth and underlying like for like growth.

[1001011] 25/2/2019 15:49

But why doesn't HAT (H&T Group) disclose ex-acquisiton numbers? "We increased our store estate via an acquisition of a single site business and continue to offer high-end lending through our office in Bond Street, London." Could it be that, maybe, accesso's level of reporting is on par with everybody else - not much better, not much worse?



Smithie6 questions the "honourability" of execs. Then he buys H&T Pawnbrokers, who are pitching personal loans with 49.9% to 1,287.9% interest rates. :^)

[smithie6] 25/2/2019 15:13

....it is NOT ..

UNDERLYING GROWTH

IF IT IS DUE TO ACQUISITIONS

---

"UNDERLYING"

-----

...each to own view....but imo there has been a vomitive amount of spin from the exec. dirs

which has, imo INTENTIONALLY MISLED the shareholders & the mkt

while

the ppl issuing that spin....& connected to benefitting from it (Incl Leonard Sim)

have been selling shares, making millions....
---

the mkt seems to think the same....30quid to 8 quid

----

if it walks like a duck

quacks like a duck

paddles like a duck

....wtf.

..it's a duck !

lets not fool ourselves it is something else

phps a 14 point stag ?

eh. no.

all imho
---

sorry to holders to give any negative opinions....but if directors have acted dubiously....then for myself the shares are best avoided...

.even though I had a punt the other week hoping for a bounce since it had fallen a long way....each person to their own strategy & risk approach & inv. choices

(picked up a few HAT...ticks many boxes including assets/share)

[1001011] 25/2/2019 14:41

The $1.7m expense was cited in the first regularly scheduled trading update after it happened. To be fair, every time revenue runs ahead by a few million, we don't necessarily hear about it until the next trading update.

The accounts are crystal clear when you get to the paragraph that says...
"Underlying revenue growth in 1H 2018, excluding the impact of IFRS 15 adoption, was 47% and benefited from the inclusion of the acquisitions undertaken in 2017 including six months of TE2 and three months of Ingresso. Underlying like for like growth, on a consistent IFRS 15 basis, was approximately 11%."

The faces may change, but the products stay the same with long-term customer contracts in place. The company's seen a leadership shuffle before, in 2010, and bounced back full-steam ahead.

[spud] 24/2/2019 13:35

Give Smith a butt plug, he seems to be dribbling again....spud

[smithie6] 24/2/2019 11:57

Anticipated expiration 2020-03-14
(ie. about to expire)

Inventor Robert Baranowski Current Assignee LO-Q PLC Park Tours Inc
US6813608B1
----

how many patents that are important to ACSO have expired or are about to....
and what impact might that have ??

-----

btw
one BIG REAL problems with patents is that you can only protect what is written in your patent claims.....and that works on a subset or tree basis

you basically patent what you write in patent claim 1
...and patent claims 2,3,4 and only applicable when used with whatever claim 1 says

it would be nice to patent a complete section of technology....
- autonomous cars
- flat panels TVs

or
queuing using technology

but the patent system doesnt allow it....
you cant patent an idea or concept (except I think in USA)...only something that can be made...

[smithie6] 24/2/2019 11:49

Leonard Sim patent application

1995-11-15 Priority to GB9523443A


"2016-11-15
Anticipated expiration"

ie.
it looks to me like one of the Leonard Sim patents has expired...

so all of ACSO competitors can use it if they want...

but from 1995 ...its ideas and overall design are perhaps out of date now in 2019...or not...

----

in any case, full marks to him

he created an invention and became a millionaire out of it/them.
very few patent holders achieve that

----

Reading that patent....I personally wouldnt have granted it....
the top claim is imo not an invention or new...and surely other queuing systems or information systems did similar things..(a repair engineer going out to different destinations to do visits...and his appointments or schedule being updated by the central ctrl centre, surely largely the same as claim 1 ??)....while I would agree that its use in a park environment (as per low level claims) were probably new and inventive.....includes looking at the distance between the person and the different attractions they have requested to use...

(an sms saying your car is fixed and ready for collection looks similar in some ways to claim 1; and Ocado and delivery companies, TRAK, have had software for yrs to predict in advance the best route to different places of interest, (drop offs or park rides !)..and to send useful data to a person using one of their devices, "change of plan, please go next to drop off point 4 instead of drop off point 3")

[smithie6] 24/2/2019 11:44

a patent for queuing

by someone else

---

expired in 2017

anyone in the world can now use it

and of course since it is a patent....it tells you how to make a working version....that being one of the requirements to obtain a patent

[smithie6] 24/2/2019 11:41

" I understand why they wouldn't want to get into litigation, but they could have just handed the lot over to a really aggressive patent troll in return for a perpetual licence and a royalty."

completely wrong imo

there are hundreds of good patents ...that no one uses.....
only a small % of patents actually turn into products being made

since a patent needs a team behind it...and money...

just having a patent does not gtee that you can sell it or that its selling or licensing price (if you find a licensee) will be tens or hundreds of millions....

(yes it is another option instead of making the product yourself...
but dont think it is easy...
are the patents worth 250 M pounds ?

No way !!

And note that the Acesso patents do not block other cos. from making queuing products....only from copying that small of queuing topic that ACSO managed to come up with an invention for....
...most or many patents can be bypassed by using a design that is different....to achieve the same general result.....

lets say you patent an innovative way to make tyres...that a skilled designer in the subject would not come up with (so, never been talked about at any exhibitions....or in any articles before....or the research papers at your competitors or research papers at any Univ)

you only patent that process
...you dont get to patent the idea of making tyres...or all production of making tyres

----

the idea of controlling queuing is not an invention....
and the use of IT or computer power....is not limited only to Acesso.
---

What Acesso patents cover....(and how long before they expire !!)...I dont know...I havent read them.

[togglebrush] 24/2/2019 10:52

Maximum daily trading volume was recorded on Thursday. It followed the only other one million plus day (1,983,570 on 7th February 2019). Shares in issue are 27.42 million.
‘
Divide Daily volumes by two, if each deal was a discrete buy or sell, to guess how many shares may have changed hands. From 7th February that is over 8.4 million or say 4.2 million shares. Using that simple metric you can guess that over 1 in 10 shares may have changed hands. An RNS on 8th gave a change in holdings by Black Rock but I guess we are due another change of holdings shortly.
‘
Some stats of Daily Trading OHLCV
‘
From 30Dec16____Price_____<-Date_____Volume________<-Date
‘
Maximum______2,975.00___<-21Sep18____2,075,391___<-21Feb19
One in 100___2,920.00__________________684,025
Q3___________2,295.00___________________84,135
Median_______1,972.50___________________37,077
Q1___________1,612.50___________________15,453
Minimum________720.00___<-11Feb19__________348___<-30Dec16


Top Institutional Holdings (source FT Tearsheet)

Holder Shares % Held
Hargreave Hale Ltd.AS OF 19 OCT 2018_______________________2.71m____9.93%
Standard Life Investments Ltd.AS OF 11 DEC 2018____________2.62m____9.61%
Allianz Global Investors GmbHAS OF 17 JAN 2019_____________1.39m____5.09%
Liontrust Investment Partners LLPAS OF 07 AUG 2018 ________1.37m____5.01%
BlackRock Investment Management (UK) Ltd.AS OF 07 FEB 2019_1.36m___ 5.00%
Kames Capital PlcAS OF 11 DEC 2018_________________________1.08m____3.96%
Merian Global Investors (UK) Ltd.AS OF 31 DEC 2017__________810.39k_2.97%
FIL Investment Advisors (UK) Ltd.AS OF 31 OCT 2018__________467.81k_1.72%
Lord, Abbett & Co. LLCAS OF 31 OCT 2018_____________________356.47k_1.31%
Henderson Global Investors Ltd.AS OF 30 JUN 2018____________350.33k_1.29%

[supernumerary] 22/2/2019 19:27

smithie - you were never a salesman were you? I bet there's somebody at accesso rubbing his hands in glee at the new customer he's just gained, and the fantastic opportunity to sell into the rest of the Vail Resorts estate...

And, as 100 says, you're dead wrong about the patents. If there's any problem at all, it's that they haven't exploited them to the extent they might have. I understand why they wouldn't want to get into litigation, but they could have just handed the lot over to a really aggressive patent troll in return for a perpetual licence and a royalty. I can't help feeling there are people infringing these patents who could have been taught a condign lesson and provided a nice little income stream, straight to the bottom line...

[orange1] 22/2/2019 16:36

> smithie

I was reacting to the post before yours. Sorry for typing so slowly!

[1001011] 22/2/2019 16:14

Smithie6, the patent office granted accesso all of the following queueing patents ( ) and rejected a Universal Studios patent for being too similar to accesso's patent.

[1001011] 22/2/2019 16:09

Re: Share price predictions. It's not just numbers on a chart.

The value of accesso to its largest customer Six Flags is at least $15m per year. At Six Flag's P/E of 17.5, it would make good business sense to Six Flags to increase their earnings by buying out accesso below $262m (about £7.35 per share). The value of accesso to others represents a lower bound on its inherent value.

There's your fundamental analysis. It's not ostriching at these price levels. It's a company with actual products and assets that other companies use. But it may take a while for the bean counters at customers and competitors to realize this and do their due diligence.

[smithie6] 22/2/2019 16:00

dont forget that old knife catching phrase

"the market is wrong...and Im right"

je je !

[smithie6] 22/2/2019 15:59

orange

I made no mention at all of whether any fund would or would not report to the mkt

so, sorry, I cannot see any logic or point in your reply

(99% of the number of funds with any holding in ACSO will hold less than 3% so none of them will report their holdings via an RNS or in the annual report)

----

1 fund holding over 3% has been reducing....Black rock...
I dont recall seeing any RNS of other funds/instis increasing their holding

[wanbissaka] 22/2/2019 15:06

So many holders here with their heads stuck firmly in the sand. On the next update these will halve in price again.

[crescenter] 22/2/2019 14:39

Looks to be heading sub £4.

Time for spud and itchy crack to top up again.

Go on itchy old son I know you are watching and reading.

[spud] 22/2/2019 14:18

Really? I would doubt its a PI absorbing over 2m this week...spud

[robbiekeane] 22/2/2019 14:14

Fund managers staying away because they can't value the stock, company keeps playing around with their accounts. Hopefully lessons have been learnt and we might get better clarity with next months financials.

[orange1] 22/2/2019 13:57

Or not. All depends how it is divided up, where it goes, who to and in what size. And even if 4.99% goes to one fund, you will not know if that fund happens to be non-UK. If 2.99% goes to a UK fund you will also not know. etc. etc.

[smithie6] 22/2/2019 13:54

drip....drip...

steady slow flow of sales since the pk price of the bounce after the fall to intraday min. of 650p from ~15 quid

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instis are big holders and clearly are not fighting each other in a rush to buy stock...& drive the price up

---

some big trades might be matched trades as Instis phps move blocks of shares from a fund called IT/tech or growth

to a fund for 'recovery'

(with different fund mngrs...and different fund rules/strategy)

phps....since various big matched trades