Auction Technology Share Discussion Threads

[philmar089] 24/5/2012 11:32

65% up has to be some good news coming or am i wrong

[philmar089] 24/5/2012 11:25

1.97 sell 2.00 buy

[27howard] 24/5/2012 11:22

Just a shortage of stock, some profit taking allows new buyers to get in.

[philmar089] 24/5/2012 11:19

must be news coming good or bad do you think

[27howard] 24/5/2012 11:18

Going mental, saying that look at the chart, went from sub 1p to over 7p in a couple of days in middle Jan.

[philmar089] 24/5/2012 11:13

why do you think it is rising silk thanks phil

[silkstag] 24/5/2012 11:01

BP, Digitalis just persuaded 27Howard to buy 64,000 shares at 1.4p, he wants more and hasn't twigged he is paving the way for Digitalis to bail and cut his own losses.

1) 7 June 2012 Prelimns out else ATG delisted from AiM.
2) Draft net cash liabilites (exc tech) £5.7m at 31-12-2011 [£6m at 30-04-2012].
3) Advertising agencies to tech sector are up for distress sale. ATG Management hope for more than bank's £1.5m.
4) Tech agencies earnings crashed from £0.8m in 2010 to £0.4m in 2011.
5) Low sale price could cause £2.5m write off of earnout liabilities.
6) So net liabilties (exc 'tech goodwill') at 31-12-2011 could be £3.2-3.5m instead of £5.7m.
7) Accounts qualified as NOT a going concern.
8) Unsecured creditors on track for >£3m shortfall including losses since 31-12-2011, liquidator fees, management and advisor fees.
9) Liquidator cant sue shareholders for creditor deficit. Shareholders get 0p, not -6p.
10) Share price was Bid 0.5p before the deceitful January 2012 trading statement. Attempted equity round at 0.5-1p failed as true value was -6p.

27Howard, Digitlais is rogering you, sorry. ATG management are desperate to pay off the bank by issuing deceitful RNSs and may pump the tech division to help negotiate its sale. But ATG shares are dead. Submerged under excessive debt. Suggest you sell before accounts come out. Your decision.

ps 27 Howard, Philmar089, you have been misled by Winks/Pearson RNSs. You think only £1.5m of liabilities. No. Management ony cited the £1.5m of bank debt but also £2-4m of other net creditors. If sell tech for £4m (no chance of disressed P/E of 10) shareholders still left with nothing.

[philmar089] 24/5/2012 10:53

thanks 27howard

[27howard] 24/5/2012 10:50

I did a little research last night Phil, they are going to dispose of their Tech business and they reckon they will get a good price for it, all they need is 2 million to cover their liabilities and the rest will be cash for them, market cap before the rise was just 0.55 million, if they were to get say 4 million for the disposal that would leave 2 mil or 5p a share cash, guesswork could be less could be a lot more.

[philmar089] 24/5/2012 10:45

whats the story on this why the rise thanks phil

[27howard] 24/5/2012 10:40

Big premiums for tiny amounts, I hope nobody tries to buy 100-250k they will get hammered with the price.

[27howard] 24/5/2012 10:28

Cannot even buy 10k at 1.5p online

[27howard] 24/5/2012 10:16

Got some but they made me pay 1.4p for them slight premium, there is simply no stock out there.

[digitalis] 23/5/2012 22:01

yep howard,the company is "finished" but the most stock available is under £200 quid online?......yesterday a.m 500k to sell,now in this environment/market to ask 500k in a company where the prognosis is reputed to be dire is imho not entirely accurate/reflective of the situation?.......

howard please make your own decision,look at the poor volume of sells that brought atg to this level...its very very thin!...i suspect very overdone....



come results imho there will be a re valuation of ATG tech assets based on increased turnover due to the new "big" US client win for 2012,if the big holders want a sale of tech assets then we need a good valuation,i feel early june will bring more clarity...interesting times...

[27howard] 23/5/2012 21:52

digitails

I have noticed the most you can buy online is just 10k or £130's worth.

[digitalis] 23/5/2012 21:41

.....the company is "doomed i tell ya" according to some, but not a single seller in a very bad market....lol


do your own research,someone wants our excellent 2x tech companies on the cheap imho........

[silkstag] 23/5/2012 20:55

Adevntis faces poor timing of their pre-liquidation distressed sale of tech advertising agencies. Trade buyers will not be slap happy with their cash on the table. The fowl market conditions mean that trade creditors will get even lower % recovery. Cant be far away from HMRC issuing winding up petitions for unpaid payroll taxes or VAT.

[digitalis] 21/5/2012 22:10

nice new second2 site revamp



still no sellers,online this morning 600k to sell less than 5ok to buy,noose is tightening for the bounce imho...lol

[silkstag] 21/5/2012 17:52

BP, prelims by 7 June wil show shares are worth -6p, rounded up to 0p because a liquidator cant sue shareholders for the creditor deficit.

[bubble pricker] 18/5/2012 10:38

I now have to weigh taking my profits from a 4p short or holding until it goes into administration. The latter usually entails months of waiting for the trade to settle.

[silkstag] 18/5/2012 10:05

Gents, the Bid-Offer is 1-1.3p, 30% spread, which is market-maker code for 'we dont want to buy any more shares in this doomed people business dog'. But I believe that a short sell at 1p will still make 1p profit within a month or two. 7 June is Disaster Day as the Prelimns must be out by then or ATG will not be able to get accounts approved at AGM before June so be delisted from AiM.

My previous estimate of net cash liabilites (exc the tech business value) was £5.7m at 31-12-2011 and £6m at 30-04-2012. Now management have admitted that the tech businesses are up for distress sale, as I said they would be, there is one small offset. ATG Management hope to realise more than the £1.5m so they can pay off the secured creditor. It appears that the tech division earnings crashed from £0.8m in 2010 to £0.4m in 2011. Taking those two facts together, and that ATG will be placed into liquidation after the sale, tech management will likely want to transfer to the aspired buyer newco any unpaid earnouts. That could reduce the £5.7m liabilities by the £2.5m that was in the 30-06-2011 interim balance sheet. Some of that £2.5m may be written off due to the poor 2011 results reducing the entitlement.

Obviously, newco being lumbererd wth some/all of that tech management £2.5m makes it much harder to even get the £1.5m to pay off the bank. The businesses are not worth £4m. So tech management will have to waive some of it, maybe the bank wont get more than £1m out of its £1.5n and soem debst are left in the deal to helkp the bank get over the line.

None of this helps ATG shareholders, but all I am saying is that the value of the tech businesses is so low, and their results in 2011 are so poor, that some of their previoiusly expected earnout can be written off in the 31-12-2011 balance sheet. That could make the net liabilties say £3.7m instead of £5.7m. With the tech businesses aspired sale on track only to generate £1m to £1.5m, the unsecured creditors are still heading for a > £3m shortfall inclduing losses since the year end, liquidator fees, management and advisor fees. The hyenas will feast on the carcass of ATG - as they always do. Clearly the shareholders, who rank after the unsecured creditors, are £3m of miracle away from even getting to 0p. Happily company law means the future liquidator cannot make a cash call on the shareholders to pay the creditor deficit. So the shaerholders will get 0p, not -6p.

ps the share price was Bid 0.5p before the deceitful January 2012 trading statement. The attempted equity round at guess 1p obviously failed as new investors rightly did not want to buy shares at 1p when their true value was -6p. There was no price at which a deal could be done without an insolvency process or CVA. Trouble is, with people businesses, management are better just to walk and start from fresh, if they cannot find any mugs to inject cash to pay their overdue earnouts, which they couldn't. This is further proof the shares are worth 0p, rounding up from -6p on the 'limited liability company get out of jail card'.

[silkstag] 15/5/2012 09:47

BP, ATG has no cash but £6m liabilities and its only asset is a people business whose earnings dived from 2010 (£0.8m) to 2011 (£0.4m)and management are mainly out of lock-in. There is just no value growth possible so it must face insolvent liquidation. The Prelims must be out by 7 June and that will show to the market that i have got my numbers right. In Janaury ATG management issued a deceitful RNS in brerach of AiM Rule 10 so noone will invest in them at any price - but that is a lesser problem as there is no business value to invest in.

At 1-1-2012 EPO had £10m in cash, no debt, and a global banking and software network which is valuable (cost £80m to build - deduct some for wasted cost I agree). It also has tax losses which are valuable in the hands of a trade buyer. It has deals with Western Union and Fiserv, as well as Bank of America. EPO has a world-class CEO and can raise new equity for growth as required. EPO will achieve a trade sale, it is just a question of exit price and timing.

[bubble pricker] 14/5/2012 09:01

SS, I hope waiting for ATG's inevitable demise will not take as long as that that of EPO, lol.

[silkstag] 11/5/2012 17:19

Arf, yes, Winks/Pearson do seem rather 'oily'. But even an oil-slick cannot hide the 31 Deember 2011 balance sheet beyond 7 June. That will prove Adventis shares are buried under secured and unsecured creditors, which is why they could not raise any equity at any price, not even the 0.5p January price before their deceitful January RNS.