Accesso Technology Share Discussion Threads

[qs99] 23/1/2020 10:38

Also, their last piece of the RNS suggests a mahoosive write off coming up....just my opinion....but if future cash flows are not enough to support the goodwill etc, then what does that say about the underlying business? Just saying......DYOR and GLA

[qs99] 23/1/2020 10:37

Thanks Smithie. Just an obvious red flag and as you say, they could really change their policy to ensure better clarity, or indeed get their auditors to provide market with a report or something to ease concerns, but nope......so am avoiding this until it is around a quid, then maybe there is some value that someone will come in and buy the experience, contracts and revenue.....DYOR and have a good day all

[rolo7] 23/1/2020 10:29

How long has this cfo ja been in charge? 10+ years very unusual nowdays?.....

[washbear] 23/1/2020 10:19

Sold my remaining lot...The Last Hope against all Hope Last ditch assignment.I tell you what I m sure John Lee was a proponant Or these ...Lesson..So if a PE price is crazy then crazyBehaviour ensures...

[supernumerary] 23/1/2020 10:13

Don't worry, hangers, we did :) Pity you couldn't join us...

[mr hangman] 23/1/2020 09:58

I just hope you guys cashed a few out alot more higher up

[orange1] 23/1/2020 09:55

If there are any Lo-Q old timers who miss the halcyon days of optimism and the latest park announcements (Dollywood, Six Flags etc.)help is at hand. Immotion (Immo) supplies VR headsets and experiences and has contracts with Merlin (Blackpool Tower, Legoland) and the London Eye. It has now decided to specialise in Edutainment targeting aquariums (Sea Life contract already in the bag). As I say, lots of parralels with Lo-q (apart from the valuation) and lots of news to come.

[bonio10000] 23/1/2020 09:13

Managing to join the 90% club in a little over 15 months.

[elsa7878] 23/1/2020 09:11

Net debt position has gone from $15 million at the interims (25 debt - 10 cash) to a positive figure of 0.2. Fear they are confusing cash at bank to debt in this announcement.....

[smithie6] 23/1/2020 08:41

discussion of merits or not of Tom B.

very valid imo

----

QS99
good post about capitalisation of costs
being used to manipulate the number for EBITDA (ie. bump it up)


(its an old subject for this co.
I'm surprised they don't throw in the towel & say

" ok mkt; you don't trust our accounting
& as a result you trash our share price


ok. we change our reporting & we stop capitalising such big amounts
& we try to regain your trust"

but so far they still don't do this !!. they are nuts, or idiots)

[horndean eagle] 23/1/2020 08:36

Sorry to all you guys who were in long term and got stiffed. I did really well (or at least I thought I did at one point) when selling at 700p or so. Valuation was a bit rich when I did but it just carried on. Looks as though Tom was bent as hell. He talked a very good game and was a very impressive individual. In reality it looks like he was a very good promoter and scumbag. Very difficult to gauge what the real state of play is with the company until a clean set of accounts comes out. Probably dead money until then.

[orange1] 23/1/2020 08:36

So why did Steve Brown leave this "truly unique company" two years ago to spend more time with his cakes? I think the true story has still to be told because at the moment it makes no sense for him to have left two years ago and then to return now so loudly singing the praises of the company.

[qs99] 23/1/2020 08:32

Not in this share, but IMO, "adjusted" EBITDA so not clean (again) and capitalised dev costs at $21m is so near to the "adjusted" EBITDA and the fun and games as an accountant you could have with what you take out of the P&L and shove on the balance sheet is wide and deep. Any company taking that level of cost out of the P&L and putting it on the balance sheet should IM humble opinion, be avoided as an investment at all costs!! DYOR and GLA

[smithie6] 23/1/2020 08:27

uh

you dont need an update

this RNS already says that

(ok, cloaked phps in mkt jargon but it says it)

----

text about move to integrated product platform
....means imo that various bits of old IT/physical development will be financially ditched as part of the 'move'
....& for anything ditched then its tangible asset value becomes zero I assume, since 'ditched'/binned...

it is fairly clear what they will do....the info is there. although it is a cloudy explanation from them...the instis will have grasped it.

..but noting that Im not an expert on accounting for intangibles

(btw it should allow them to pay less tax (which is good), since it reduces reported profit)

[muffster] 23/1/2020 08:17

Can see the next update.... After a thorough review we have concluded that the intangibles and goodwill carried needed to be altered... Downwards.

[smithie6] 23/1/2020 08:16

interesting

the sale process allowed some ppl to get out at 3 times the price now

3 times !!

hopefully the process wasnt created to facilitate that !...Im such a cynic

[crescenter] 23/1/2020 08:03

Crescenter - 25 Jul 2019 - 08:13:57 - 4189 of 4535 accesso Technology Group - Queuing growth for the future - ACSO
A management that is aware of the issues facing ACSO now play pass the parcel.

A rudderless ship drifting in a sea of falsification.

The problem is that when prospective purchasers spend time in the data room they too will see the problems, the lack of profitability and cash flow.

At best expect a low ball offer.

Wish that that comes before the next profit warning.
Crescenter - 11 May 2019 - 11:25:02 - 4076 of 4535 accesso Technology Group - Queuing growth for the future - ACSO
On the plunge again down to £4.

[spud] 23/1/2020 07:53

Net cash of circa 165k quid? Guess what's coming next....spud

[rivaldo] 23/1/2020 07:34

The only good news is that Steve Brown is returning as CEO. Bye bye Paul Noland, who seems to have been a disaster.

2019's results will be a kitchen sink job. Let's hope the sale process termination is mostly already baked in to the current share price, which has hardly been anticipating a successful outcome!

[bonio10000] 23/1/2020 07:29

As a company valuer, why this needed 6 months is beyond me.

Other than interested parties dug and dug and didn't like what they saw. As a result, the company has effectively been told via the process that carrying values of assets are meaningless.

[igbertsponk] 23/1/2020 07:27

Ouch! No cash would be the worry.

[bonio10000] 23/1/2020 07:21

Horrific

I did say management were a complete shower.

I assume they have been handsomely rewarded on the way up though.

[crescenter] 23/1/2020 07:10

Sub £2.

The best brains in finance cannot see value in this.

Major write offs to come.

No tangible assets.

Stumbling trade as predicted.

SELL.