Avanti Communications Share Discussion Threads

[loverat] 28/11/2012 23:07

Problem seems to be with a certain stable of tipsters who operate on this site. Once one decides to short a stock all of them do. I hope they do not rely on any subscriptions from their readers. Subscribe to read their articles while they are borrowing your shares and hand them back only once they have destroyed their value.

Something not quite right there and I suspect the penny will drop one of these days.

[geheimnis2] 28/11/2012 21:55

Good post piadda

Care to respond cawky?

No, of course not.

[mjames20] 28/11/2012 21:54

Hmmm... either I am not following or the accounting in the link is not that good.

Firstly, the article tries to suggest that trade receivables are too high. Trade debtors are in fact £1.1m. Perfectly reasonable in the context of a company with an historic turnover of £8m. What the author does is add other elements of current assets like prepayments, accrued income and other debtors to the trade debtors figure and then compare the resulting figure to turnover. Not surprisingly the resultant figures are out of sync. This is because they are not comparable. It is not valid conclude from this that debtors are not being converted into cash.

The second accusation is that the Company has incorrectly stated its accounts and included items in current assets that are not current assets. Yes, if you regard all current assets as trade debtors then you might question this but there is no relationship between prepayments and turnover so again no basis that I can see for drawing the conclusion.

[piadda] 28/11/2012 21:53

I am not an accountant but cannot see any problem with the debtors in the annual accounts? 

We had £8m non ESA revenue of which £6m has been provided but not yet invoiced (accrued income). We have £1.4m which is invoiced but not yet paid. 700k of this is not yet due and 340k is less than 60 days overdue. I would say that this is consistent with a growing income, long payment terms and a high rate of payments due. All these factors could be down to dealing with large organisations such as telecom companies and government agencies who can dictate terms. Smaller organisations will be hanging on to cash as long as possible due to the recession.

The £3m of other receivables is due to a one off court action settlement which is still outstanding.

The 250k of bad debt provisions is higher than we would like but could just be a couple of smaller start-up companies who may go bust in the recession. In relation to the £8m income it is not too bad.

It seems like there is nothing that some better contract negotiation and credit control couldn't fix. If I am missing anything or have got anything wrong I am happy to be corrected.

[geheimnis2] 28/11/2012 21:44

Yawn

Quit the buffoonery

[count chris] 28/11/2012 21:42

With the anticipated move to the main market you'd like to believe they have their accounts whiter than white knowing they will be scrutinised but I don't have the knowledge to access what is being suggested and I know that Simon does. But he may also be knowingly making something out of nothing. At some point the share price fall must warrant an RNS to put across AVNs side of the story.

[simon cawkell] 28/11/2012 21:30

Gentlemen,

As you have probably gathered, the above poster is an imposter.

I am Simon Cawkell

[yorgi] 28/11/2012 21:28

Sg........look again :-)

[sg31] 28/11/2012 21:27

I do not need to substantiate any queries over accounting.

Of course not Simon. I would never expect you to substantiate what you say. You have played this game before and you do it well. When you have finished I will still be here ready to make money.
I've not seen the institutions panic selling so far. I wonder if 2 satellites in prime orbital positions have any value?

[yorgi] 28/11/2012 21:23

Blimey their multiplying :-)

[geheimnis2] 28/11/2012 21:18

Lol give it up cawkwAll

[johncsimpson] 28/11/2012 19:44

Gorvachof - not down to 168 yet (I presume that's what you meant re T.W.) but clearly heading towards a sub 200 possibility in which case 151 is on the cards.

I've resisted posting as AVN has fallen back this last month or so and I'm really sorry for those who didn't get out before the prelim results early October and even more so for those still in.

It's at times like now that that some words from VOLVO might be illuminating . . . . If he had as many AVN shares as he claimed to have had back in Sept (plus his top ups) then he's down about £150k on paper this last two months.

The wise investor is currently out of the markets all together or only in a few stocks. Europe's still a nightmare waiting to happen and most P.Is. have lost interest.

[philo124] 28/11/2012 19:42

Well, somrthing is going to happen for sure, 'cos this is dire.

[jeffian] 28/11/2012 19:11

"My main concern at these prices is an opportunistic bid....."

If only......!

8-/

[dunluce] 28/11/2012 18:44

May have already been noted but AVN at the Global MilsatCom conf. being held in London from 27th -29th November ie yesterday,today,tomorrow.
Sponsor and presenting - see below. This presentation was delivered yesterday.

Flexible Partnerships: Re-examining the Commercial – Military relationship to meet the challenges of Ka-band milsatcoms in the 21st Century

Paul Feenan, Corporate Development Director, Avanti Communications Group
View Bio•Delivering operational capability in an unpredictable and fiscally challenged world
•Utilising available assets to deliver a cost effective balance between military and commercial satellite capacity
•The reality for commercial satellite operators – balancing urgent operational demand with the need for balanced investment and long term financial security
•The need for early engagement with the commercial sector by military planners to provide military ready capability for unforeseen deployments now and in the future
•The need to examine common standards across the milsatcom community to support existing and emerging satellite requirements
•The critical role of equipment vendors and satellite operators in achieving an effective and flexible value chain to deliver milsatcom services

Paul Feenan Biog. below.

Paul Feenan, Corporate Development Director, Avanti Communications
Paul is the Corporate Development Director for Avanti Communications Group plc. His primary role
involves business development across the Government, Military and Enterprise sectors. He has a
secondary focus on broader Information Assurance and Security requirements across the Avanti
Group in order to optimise levels of service to meet demanding end-user requirements. Avanti owns
and operates highly adaptable Ka-band satellites - perfect for providing broadband telecoms services
to consumers, enterprise and government clients. Avanti's first three satellites provide coverage over
Europe, the Middle East and Africa, with further satellites in the pipeline expected to increase global
coverage. Avanti is listed on the London Stock Exchange with over £500 million invested in its current
fleet and ground infrastructure. Prior to joining Avanti in December 2011, Paul served for 16 years in
the UK Military in a wide variety of operational command and staff roles across multiple theatres. He
left on promotion to Lt Col keen to pursue new challenges and opportunities.

[garymott] 28/11/2012 18:38

AA29, me too, but that is not my analysis. Most PI's know the revenue was lower than forecast by AVN and much lower than the brokers.

What about the other statement/post?

[sg31] 28/11/2012 18:38

My main concern at these prices is an opportunistic bid,hopefully the II's are firmly behind the company.

[aa29] 28/11/2012 18:25

GaryMott

In the interest of balance, SC's £10m forecast does seem a bit closer to the out turn of £12.5m (excluding other income) than Cenkos' forecast which I believe was £29m.

That point is made as a frustrated shareholder.

[loverat] 28/11/2012 18:00

Hopefully you folks here will get some respite from Cawkwell soon. He is now targetting CPP with this announcement:

'Gentlemen, I see the company has just announced it is de facto insolvent'.

To you and I (and the official RNS) that means that the company has announced it is exploring financing options which they were doing anyway. You got to laugh at the wallies on here.