Share Name Share Symbol Market Type Share ISIN Share Description
Atlantic Global LSE:ATL London Ordinary Share GB0030419542 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 21.00p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 1.2 -0.2 -0.9 - 4.70

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Date Time Title Posts
22/5/201208:12Atlantic Global 2007152
08/10/200817:57ATLANTIC GLOBAL1,191

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explorer88: M "if this company could get its act together and rapidly expand future sales, with only an incremental increase in expenses, then profits could rise and there could be the potential for the share price to return to its previous levels (which would be 2.7 times the current sp) and maybe go even higher" ...yes, that's what i believe will happen over the next 12 months or so.
masurenguy: explorer88 - you are obviously 'championing' this share and you have already disclosed the fact that you believe that you are the largest private shareholder in the company. Since the share price has come down from the low 40's two years ago to the mid teens today, are you not therefore sitting on a substantial paper loss and don't you have plenty of incentive to hype the potential in order to try and recover these losses ? This is not an allegation, just an inevitable and obvious question when one first looks at the facts, so please don't take offence. I've just taken a quick look at their history. 2004 was a good year and they then went to town with their forward expenditure to ramp up sales in 2005, which never happened, and they went from a £200k profit to circa a £500k loss in 12 months. Last Septembers interims suggest that they will get back to break even in full year 2006, largely from cost cutting since sales would appear to be only marginally ahead of 2005. I can see that they have an impressive portfolio of clients but they already had that in 2004 and that did not provide them with their expected springboard in 2005. So what will be the catalyst for a quadrupling of sales over the next 3 years, which you have forecasted in a prior post ? At 16p the company has a market cap of £3.7m. With net cash of £1.9m at the end of June (has this decreased in the subsequent 7 months ?) that gives an EV of £1.8m for a company that is around break even with flat sales for the past 3 years. Frankly that does not make it particularly cheap on current performance ! However if this company could get its act together and rapidly expand future sales, with only an incremental increase in expenses, then profits could rise and there could be the potential for the share price to return to its previous levels (which would be 2.7 times the current sp) and maybe go even higher. What should provide a prospective investor with the confidence that there is a strong chance that they will deliver in the future and finally make this happen ?
explorer88: ATLANTIC GLOBAL COMPETITION To start 2007 with a little fun ... ... i'm so confident that ATL's share price will rise at least five fold over the next three years that if it doesn't i'll buy a bottle of champagne for each of the first 12 new investors in ATL who post that they'd like to take part in the competition. Madasafishman, a new investor in ATL, is the first person to enter the competition, and has offered to buy me TWO bottles of champagne if ATL's share price DOES rise fivefold in the next three years. So, if ATL's share price doesn't increase to at least 67.5p by end 2009 i'll buy each competition entrant a bottle of champagne; and if it does increase at least five fold, each competition entrant buys me two bottles of champagne ... ...either way, we could all meet up and drink lots of champagne ... Who would like to be part of the competition ...? (...KatyLied, JohnRoger, Shiny...?)
explorer88: mad - welcome aboard Atlantic Global (ATL) with your first purchase today! If ATL's share price doesn't rise at least fivefold in the next three years, i'll buy you a bottle of champagne! :-)
katylied: Many companies are declaring total voting rights just now x88. It must be a formal obligation that they do so, though I don't recall it happening in past years. I have been looking at ATL. It is interesting, but I must dig deeper on the quality of the product. I am reminded how SPE (same ball park, if probably a more sophisticated & expensive product-range) has still yet to recover much from the post dot-com-boom reality check. Making sales is still heavy going. On the whole, the average british company does probably need a fair bit of convincing, to change its administrative ways. Nevertheless, the current ATL share-price looks inviting...
shiny1000: Ed - what other stocks do you hold? Edgein - 25 Apr'05 - 20:25 - 8534 of 8548 Brancho, I hold CSH, EOG, GRV, BLR, MDL and some FPM. Watching OIL, VOG and LRS top of my watch list at present. relation to TMC. sicilian_kan - 10 Apr'07 - 20:26 - 17830 of 17843 I'm still in TMC, with 10,000 shares, which is a lot for me, and I will hold out for the big rises that are yet to come. But take a look at the following too: I'm convinced by Tippingpoint's 10 bagger thread tip of GGP - Greatland Gold, which is already JORC compliant. It is screaming a 'buy' and is a certain 2 bagger, a probable 3 bagger and a possible 10 bagger. To explain why, look at the company's own presentation at: I extract from Page 19 the following: "July 2006 Resources of 90,000 oz Extract only 50,000 oz and process at nearby mine Toll Mine and Treat Ore – no cost to Greatland Current Gold Price – approx US$600 per ounce Cost to Toll Mine and Treat Ore – US$400 per ounce Greatland Receives – US$200 per ounce 50,000 oz x US$200 per ounce = US$10,000,000 (£5,000,000) Cash at hand - £1,000,000 £6,000,000 assets with 106,550,000 Shares on Issue Net Asset Value equal to share price of 5.5p Current share price of 1.75p is undervalued!" And this is BEFORE they conduct exploration, during which they hope to up the resource to 1,000,000 oz, i.e. an 11-fold increase. Plus they have two other sites. Shareprice now 2.00p-2.35p. Aerotus - 10 Apr'07 - 20:38 - 17831 of 17843 So why is it so undervalued then?? There must be a big reason!
ianmacg: TIP From The Share Weekly Contract wins boost software developer Atlantic Global Business Summary Development and sale of computer software. Market: AIM Website: Shares in tiny software developer, Atlantic Global, exploded when the company announced that it had sold a license for its latest and most important software module to Norwich Union for £300,000. That may not seem much in normal corporate terms but it is equivalent to 20 per cent of last year's turnover. More important is the implications it has for the company's future growth. The software module sold to Norwich Union was for 1,500 licenses for its new Adeo Corporate Vision software. Not only does this sale raise the prospect of many more such sales in the future, but the company hopes to use this high-level package to boost sales of the five other software modules it has so far developed. An idea of the significance of the deal is that the news triggered a near trebling of the share price. Market Data EPIC Company Share Price Market Cap £m PER Dividend Yield% 12-Month hi-lo Company Report ATL Atlantic Global 83.50 19 138.8 0.60 25.00-89.50 I have spoken to the company about what is happening, but they have to be guarded in what they say because they are reporting results for the six months to 30 June on 18 September. The Stock Exchange would take a very dim view of it if they told me, or I passed on to you, any insight into what the figures were going to be. However it is encouraging to note that Atlantic described the contract as 'consolidating its position as one of the fastest growing software suppliers in the financial services sector'. This is not the kind of public statement you make when you are about to issue a profit warning. Since 1999 sales have grown every year from £480,000 to last year's £1.55m with profits up from £14,000 to £470,000 and further growth forecast. Financial Data Fiscal Year Proj Turnover £m Pretax Profit Change % EPS Change % DPS Change % 2002 1.55 0.47 NA 1.54 NA 0.50 NA 2003 * n/a 0.70 48.9% 2.00 29.9% 0.60 20% 2004 * n/a 1.00 42.9% 2.90 45% 0.75 25% EPS - Earnings per Share DPS - Dividend per Share Atlantic works with large corporate customers The key to all Atlantic's software is its simplicity and flexibility. The business began in 1993 and won its first contracts in 1994 and 1995 with Glaxo and Pfizer, pharmaceutical concerns that are among the world's biggest companies. Finance director, Rupert Hutton, tells me that paradoxically the bigger the company the simpler the software has to be. This is because there are so many users. If the software is too complex one of the thousands of users is bound to find some way of beating the system. This happened with the group's time-recording software when a WorldCom employee entered two years of attendance records in advance. When the ruse was discovered, the software was altered to make it impossible to enter data over such a long period in one go. Growth continued despite WorldCom collapse WorldCom's collapse was a minor disaster for the group, which had sold the telecoms giant 5000 licenses to its time-recording software. Atlantic makes much of its revenue from maintenance and consulting work. This revenue from WorldCom dried up overnight. However the company is well over the shock and is signing up new customers like Barclays, NEC, LogicaCMG and Norwich Union. A key element for Atlantic Global in making sales, apart from being vastly cheaper than giant rivals like Oracle and Peoplesoft, is the flexibility of its software. Companies can customise the software in any way they want, meaning that effectively they are buying the capabilities of bespoke software at the price of a package. Users typically pay something upfront for the license plus say £100 per user; in addition they sign up for a three-year maintenance contract at a cost equal to around a third of the original cost of the software. For this they receive regular six-monthly updates of the package. As with other companies like Trafficmaster, costs are kept low by the 'thin client' business model. In recent years, all Atlantic's software has been moved from the desktop to the Internet. This means that users simply log on to use the software; there are no disks that need to be inserted into the machine; updating is easier and cheaper. The company began with Time Recording software and has developed variants for companies like computer consultancy LogicaCMG, enabling it to use time recording for its contract employees as well as the regular staff. A division of LogicaCMG is already using four of Atlantic's modules. 'Very, very excited' about new software The company is particularly excited about the Adeo Corporate Vision software that is aimed at the efficient delivery of business objectives in service-based organisations. The company describes the module as its new Business Portfolio, Project, Resource and Milestone Management software. Developed initially with Pfizer, it enables top management to keep in touch with all the projects going on within a large and far-flung business. Not only can top management keep in touch with the progress being made, such as whether promised milestones are being achieved, but it also makes it possible to use company resources more efficiently. Hutton says there are many examples of companies calling in expensive outside experts when there were people within the company that could have done the job. I expect to learn more on 18 September when I will be meeting the company again, but it is clear that Atlantic's board and tiny staff of just 17 employees feel they are just at the beginning of an exciting period of growth. Given that the group is working with some of the world's biggest and most powerful business across a range of industries, it is easy to imagine that they really do have a large opportunity. It is always a little nerve-wracking to buy shares that have jumped so strongly ahead of an announcement. But my guess is that the potential rewards far outweigh the risks. The Share Weekly Quality Ratings Relative Strength 10-year Trend Latest Trading Profit Forecast Ratios External factors TSW Rating 6
morose: Another month slips by and still no direction for ATL share price. 5 months now since it had any direction. How much longer can I hold out with this one? Surely there must be some newsworthy activity soon!! It's turning into a major disappointment for me, especially after i recommended it to my share club we have just sold out in accordance with our stop loss policy.
blopblup: COLLINS STEWART SUMMARY We believe Atlantic Global's new enterprise planning software product 'Corporate Vision' offers the opportunity for a step change in profitability in 2004. Interim results were in line with expectations with an operating profit pre goodwill amortisation of £288k reported on turnover of £907k. The balance sheet remains strong with net cash up to £1.9m. Contracts announced in 2003 include amongst others Norwich Union, Telewest and NEC Technologies and demonstrate that Atlantic continues to win new clients, as well as expand its offering to existing customers. We now estimate that maintenance and service revenues in 2004 are likely to cover costs, leaving the bottom line strongly geared to new licence wins. This creates the possibility of a step change in profitability, particularly given the introduction of the new enterprise product 'Corporate Vision'. 'Corporate Vision', an enterprise wide budgeting, planning and resource management system, is currently being launched. In comparison to Atlantic's five existing software modules, which carry an activation fee of between £1k and £7.5k, we believe 'Corporate Vision' activation fees alone will be a minimum of £100k, probably higher. Consequently, 'Corporate Vision' offers the opportunity for large increases in turnover and more importantly profit. The initial reception to 'Corporate Vision' from the existing customer base has been enthusiastic and thus our forecast of three £200k deals in 2004 could prove very conservative. 18th September 2003 Smaller Companies Research Collins Stewart Ltd is stockbroker to Atlantic Global and makes a market in the company's shares. As broker to the company, we make no recommendation and leave investors to draw their own conclusions over the potential for the shares. Price: 79.5p Mkt Cap: £18.1m FTAAll Share: 2124 Year to December 2001A 2002A 2003E 2004E Turnover (£m) 1.2 1.6 2.0 2.6 CS pre-tax (£m) 0.5 0.4 0.7 1.0 CS EPS (p) 2.6 1.4 2.1 3.0 EPS growth (%) – -45 45 46 Dividend (p) 0.5 0.5 0.6 0.75 Dividend cover (x) 1.9 1.1 2.1 2.7 CS PER 30 55 38 26 Dividend yield (%) 0.6 0.6 0.8 0.9 Year to December 2001A 2002A 2003E 2004E Net (debt)/cash (£m) 2.1 1.9 2.2 2.7 Gearing (%) -42 -37 -42 -49 Operating margin (%) 32 14 21 28 PEG – – 0.9 0.6 NAV (p) 25 23 23 25 Relative to 1mth 3mths 12mths FTAAll Share +16 +38 +106 FTSE Small Cap +13 +27 +79 Share Price Performance Forecasts Financial Ratios 2 18th September 2003 COLLINS STEWART Interim results showed a 5% increase in sales to £907k and flat interim profit of £288k, in line with expectations. This was a credible result with Atlantic absorbing an increased operational cost base of £58k, which should provide a foundation for continued growth. Net cash at June 2003 was £1.9m, up from £1.8m, maintaining Atlantic's balance sheet strength. The outlook statement highlighted that the level of interest in the company's software was the highest in Atlantic's history and that profit should be higher in the second half and beyond. Further Atlantic expects '... to sign contracts with a number of new and existing customers in the near future'. Eugene Blaine, the current Managing Director, founded Atlantic in 1993. In June 2001 the company reversed into a shell on AIM and raised £1.45m (net of expenses) at 25p per share. The final deferred payment associated with this transaction was made in 2002. Atlantic Global develops and sells software, branded 'Adeo', which improves operational efficiency, particularly in relation to resource management, in virtually any organisation. The software is sold in modules that can be combined to create a complete business solution or used in their own right. All 'Adeo' modules were designed in partnership with Atlantic's blue chip client base. Typically a client will partially fund development in return for participating in the design phase and receiving a discount on the initial licence fee. Atlantic always retains all the associated Intellectual Property. Atlantic's software is designed to be user friendly and intuitive to use: it is also easily deployed (typically between four and twelve weeks, depending on complexity). Given that pricing tends to be economical, return on investment for clients is high with payback usually within three to six months. At present there are six modules that we outline below; all of which can be integrated with any existing software such as Microsoft, SAP or Oracle. The original module, launched in 1996, and still by far the most widely used. Adeo Time & Expense automates the entry, tracking and reporting of time and expense information. This generates management information about how resources are being used, which enables operational efficiencies to be made. INTERIM RESULTS CORPORATE HISTORY ACTIVITIES & PRODUCTS Time & Expense Tracking 18th September 2003 3 COLLINS STEWART This module provides the capability to enhance the internal tracking mechanisms within a company. Information on all business contacts can be stored centrally, be they customers, suppliers or advisors. Any interaction can be defined and subsequently tracked to giving a comprehensive record of the total knowledge base of the organisation. This software provides a solution for managing relationships with contractors. It tracks individual contract details and automates the collation and reconciliation of incoming invoices. It provides for rate analysis and accrual handling as well as skills profiling to ensure best value across a range of suppliers. This was originally developed in conjunction with GlaxoSmithKline and Pfizer and the new web version of the software has already been sold to Norwich Union. The Risk Management module helps to make the risk assurance function of a company more pro-active. It ensures that all categories of risk are identified and that mitigating actions can be defined and tracked to completion. This was originally developed with LogicaCMG and Barclays Bank Plc. A task based planning tool that gives visibility of the forecast workload for a company, ensuring consistent and visible planning. It contains an intelligent resourcing capability, which helps ensure that the right resources are allocated based on skills and availability. As well as planning directly in Adeo, the tool is also capable of linking to Microsoft Project, if required. This is the newest and most exciting of Atlantic's products. Branded 'Adeo Corporate Vision' it builds on the other modules to provide a means of planning and monitoring projects, scheduling resources and forecasting costs and revenue at an enterprise level. We focus in more detail on Corporate Vision later. Organisations initially pay a one off activation fee for each module, then buy licences for individual users. In addition, maintenance fees of between 30% and 40% of the licence fee are charged on an annual basis. Service revenues for consultancy and installation are also common. The activation keys for the first five modules are typically between £1k and £7.5k with licences fees of the order of £100 per seat. We believe the new 'Adeo Corporate Vision' product will carry an activation fee of at least £100k, usually much more, and a licence fee in the region of £175 per resource. Maintenance fees will be c.20% pa. Hence the opportunity for a step change in profitability we discuss later. Business Information Tracking Contractor Management Risk Management Planning and Resourcing Corporate Vision BUSINESS MODEL 4 18th September 2003 COLLINS STEWART Organisations tend to buy licences in blocks. By allowing existing customers of, say, Time & Expense, to trial some of the other products, using spare licences, Atlantic has expanded the portfolio of products sold to existing clients. Consequently, repeat sales are high, which together with the relatively high level of the maintenance contracts provides decent ongoing visibility to the top line. Atlantic Global's customer base is striking for a company of its size, with the first five modules having sold about 21,000 licences to companies including AstraZeneca, GlaxoSmithKline, Pfizer, Ericsson, Virgin Mobile, Allied Irish Bank, Barclays, LogicaCMG, Norwich Union and the Metropolitan Police. This shows that Atlantic's products are applicable across numerous industries, providing a wide potential customer base. It also highlights that Atlantic is not dependent on any single sector of the economy. Adeo Corporate Vision represents the real excitement at Atlantic and hence it is worth providing a little background on how it was developed. Back in 2001 Pfizer were looking for a software development house with experience in the field of project planning on a large scale, and as a result of previous experiences chose Atlantic. Atlantic then developed an early version of Adeo Corporate Vision for desktop use and deployed it in November 2001. This was implemented in a division of about 1,000 people and resulted in significant savings, giving Pfizer a very quick return on their investment. The original desktop product was then further enhanced and developed into a web-based form in conjunction with Norwich Union. This development phase has taken nine months and the costs of development were broadly borne equally. Upon successful completion of phase one of the development project, NU purchased an activation key, licences and support for 1,500 resources in a contract worth £300k. All intellectual property developed has been retained by Atlantic Global and the resultant shrink-wrapped product is now being marketed to Atlantic's customer base. In essence Corporate Vision will integrate strategic planning, execution and performance measurement across an organisation into one single system. This will eliminate the current trend for use of multiple solutions and provide management at every level of the organisation with a means to track performance and model and implement strategies with accurate data in real time. This is turn should allow optimisation of budgeting, planning and resource allocation, thereby increasing efficiency and delivering cost savings. CUSTOMER BASE ADEO CORPORATE VISION Adeo Corporate Vision was launched at an Atlantic user group in July with Atlantic's web site talking of an 'overwhelming positive response from users to Corporate Vision's unique approach to simplifying the management of budgets, portfolios, resources and milestones'. This has necessitated a need for a series of breakfast seminars so that customers can see Corporate Vision in more detail. Given that each licence sale will be well over £100k, this forms the basis for our opinion that Atlantic could be on the verge of a step change of profitability and underpins our continued positive stance on the stock. Aside from the £300k Corporate Vision licence from Norwich Union, the financials to date are based on the sales of the basic five modules. In fact Time & Expense Tracking has accounted for the majority of turnover to date, the other products have been making more of an impact in 2003 but are not yet significant contributors. Consequently the Time & Expense Tracking module is in its own right profitable and cash generative and more than covering the entire cost base of the company, including the development of the new products. We would expect the basic five software modules to continue to show strong organic growth, particularly as the upside from resale of the products launched in 2003 (Contractor Management and Risk Management) is yet to be reflected in the reported figures. On top of the growth we anticipate from what we have termed the five basic modules, has to be added the sales of Adeo Corporate Vision. It is at this point that forecasting becomes difficult. Given that group costs in 2004 will more or less be covered by maintenance and services revenue, new licence sales of Corporate Vision which carry a very high gross margin, should drop into net profit. In 2003 we assume no further sales of Corporate Vision due to the likely length of the sales cycle and integration process. In 2004 we have assumed three £200k sales. In reality we believe these forecasts will probably prove far too pessimistic but at this early stage we would prefer to upgrade on newsflow when there is better visibility to 2004. Investors may have their own view on what Corporate Vision licence sales are possible and may wish to take account of this when valuing Atlantic. Atlantic is cash generative and historically has converted its operating profit into operating cashflow, we expect this to continue in the future. Net cash was £2.1m at September 2003 leaving Atlantic with no finance risk and well capitalised. COLLINS STEWART 18th September 2003 5 FINANCIALS COLLINS STEWART
alroyrob: bbbb: I find your 'other side of the coin' posts, interesting, but, for the benefit of someone less informed, I would be grateful if you would elaborate on a couple of the following statements you have made; a) Why is it that you feel that most of the selling of the last few days is by people who 'bought at the top and are now heading for the exit'? b) Also, are you saying that you think 30p (mkt cap £6m), is where the ATL share price should be today? You have asked, 'why would institutions buy ATL at 70p when they could have bought them at half that price a few months ago'? Well, possibly, EVEN institutions wait to see how things develop before buying at the very early stages. As you yourself say,'if the facts change, then they may have changed their minds', and they may now want to buy ATL even at twice the price they could have paid a few months ago? For eg, there is still large institutional buying of GHT, and that share price is a long way from its price 'a few months ago'. Regards
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