Auction Technology Share Discussion Threads

[rachit7] 11/6/2012 17:53

UKMassey i remember that post too,the guy is a serious danger to your finances,prob struck off as an analyst so has to daytrade/peddle this old accounts to scare buyers,encourage sellers,on small cap like this is very effective.

[rachit7] 11/6/2012 17:51

akaaur i think you are wasting your time discussing any other outcome with silkstag,he is a multiple named poster that has attacked the company/management for his trading agenda,see the timing of his postings today coincide with midday markdown. only a new set of figures/guidance coming very soon will shut these repetative bashers up. a good day today,good volume of stock churned all finding a new home.

[ukmassy] 11/6/2012 17:48

Silkstag, Hmm. Didnt you say they have to publish accounts by June 7 or they will be delisted? They're still trading!

[akaaur] 11/6/2012 16:33

silk stag, but we only need to pay the bank, secondly profit for the tech division alone was 1million, but overall profit was 500k, now that health is out of picture, things look good, but we will need news

[silkstag] 11/6/2012 16:11

when tech is sold there will be nothing left but about -£2.5m liabilities so mandatory to appoint liquidator (or administrator to get rid of small breakeven or loss-making property ad agency). the bank is the secured creditor so of course it is forcing the issue. HMRC may serve a winding up petition along the way, if the tech sale drags on.

[akaaur] 11/6/2012 15:37

silk stag but other liabillties are not the cause for them selling the tech business, the bank only requires the money, the others have not yet asked for the money, the bank is only asking for 1.5million, it does not mention anywhere about paying other creditors yet or them raising a issue,

[silkstag] 11/6/2012 13:43

27howard, I estimate that 'total liabilities' exceeded 'current assets' by about £5.5m at 30-4-2012. [The two tech subs may have been reallocated from 'goodwill' to 'stocks' within current assets, but we should ignore whatever over-valuation Winks/Pearson put on them. Those deceitful directors valued ACL goodwill at £3.25m and sold it for £0 ten weeks later]. All that is left is disposal of the two tech subs. Six obvious problems: 1) These are people businesses, ad agencies, so only ever sell on low p/e ratios. 2) Management are mainly out of lock-in so about 50% of proceeds will go to them. 3) This is a distressed sale, so ATG wont get nornal valuation. 4) Tech management will have equity in newco so are motivated to help buyer pay as little as possible 5) Bank just wants its £1.5m, frced tech to be sold and will push any deal through. 6) Operating profit tanked from £1.1m in 2010 to £0.5m in 2011. That is a disaster when you are trying to negotiate a decent exit price. Overall, my estiamte of proceeds to ATG has been £1.6-4.0m (top of range only if 2012 is going well). Don't forget Winks/Peasron already admitted my range was right, if you read their devious misleading 10-5-2012 RNS carefully. I have only INSERTED NUMBERS TO MAKE WINKS/PEARSON DECEIT OBVIOUS: "Having tried, unsuccessfully, to persuade investors to back our efforts to raise new equity [at 0.5p or otherwise] to pay down both bank [£1.5m] and vendor debt [£2.5m]...technology businesses which will now have to be sold to pay this historic debt [£1.5m + £2.5m = £4m]. We believe that these businesses should be sold for an amount that is greater than that owed to the bank [£1.5m]." Then there will be £0.5m corporate finnace fees, legal fees, nomad, management fees; then £0.5-1m fees in liquidation of parent company and all the subsidiiaries. So, yes, the tech disposal will reduce the net liabilities down from £5.5m. But no chance of covering them. Liquidation deficit of about -£2.5m looks like best case, hence -5p per share. It could easily be -10p if the sale goes poorly e.g. drags out and the business implodes or one or more of tech management resign, to buy their business for peanuts from an Administrator (which is what will happen if Winks/Pearson or Savills/Isis mess about being too greedy).

[silkstag] 11/6/2012 13:43

sorry, dont know why duplicated

[silkstag] 11/6/2012 13:43

sorry, dont know why duplicated

[27howard] 11/6/2012 11:59

Best to wait until the company provides another update, do the disposals improve the liability situation SilkStag ?

[silkstag] 11/6/2012 11:36

Gents, tech businesses operating profit was £1.1m in 2010 but crashed to £0.5m in 2011. You are quoting false numbers. Your talk of £10m valuation is a fabrication.

[27howard] 11/6/2012 11:19

1.05p offer now, 1.3p paid earlier

[27howard] 11/6/2012 10:49

Here we go again :-))

[bubble pricker] 11/6/2012 10:10

Rachit, ATG is bust, you will lose your money. Late results speaks volumes.

[27howard] 11/6/2012 08:13

Ok gambled on a 100k, been a overhang but I think it is clearing, 100k left online at 0.88p, can I have 2.9p please again :-))

[rachit7] 10/6/2012 18:19

Nice summary digitales

[ukmassy] 10/6/2012 17:23

The week starts on Sunday on most. Calendars 27 H!

[27howard] 10/6/2012 17:00

UKMassy Depends if this week ends today or starts tomorrow, now I'm confused :-)) SilkStag, do the two disposals improve the liabilities then ?

[rachit7] 10/6/2012 14:47

the management are well respected,they are in demand through Waypoint Change working with major banks/accountancies on some very big projects,the attack on our CEO/CFO is totally out of order imho the fy results will be what was projected in the jan 20th rns,what really will put the cat amongst the pigeons is the trading update promised with these FY figures,now to value the tech businesses 5 months trading in 2012 will give a very good indication of the asking price,yes the market is not good at the moment but second2/bchannels is a top 10 marketing company that will have a lot of suitors jockeying for those blue chip clients,and a bidder will not want second2/bchannels to go into admin as that would damage client relations imho. What has also failed to be mentioned is bchannels/second2 now have a foothold in US through San Francisco and the Utah branches,we await a report on that development

[loverat] 10/6/2012 14:21

I am out of these for now. But I will be fascinated to see how this pans out and who is correct here. Silkstag has backed up his view with figures although I have seen impressive calculations before which have omitted something very important or been based on inaccurate information . If he and the others are correct then I think that might raise a few questions about RNSs and whether they might be considered as misleading. Let's wait and see.