Calculus Vct Share Discussion Threads

[moreforus] 15/8/2003 14:57

Insitutional sale yesterday...time to depart for me i'm afraid..don't want another red splodge on the portfolio!!!

best of luck chaps!!

[orange1] 13/8/2003 08:48

Well it seems the interesting times have arrived!

CLC have announced their interim results:

* Turnover up 3% to #1.15m (2002: #1.11m)
* Operating loss of #397,000 (2002: loss #598,000).
* Loss per share of 1.6p (2002: loss 2.4p)

* CV4 now in use with five US customers (it was 4 back in April).
* First UK customer due to go live later this month.
* Two more are to be fully operational this year

and most importantly they announced a Placing and Open Offer, underwritten by Investec to raise approximately #2.6m.

The company states:

We continue to actively market CV4 to both legacy customers and new prospects
and we have approximately 90 legacy customers that we believe provide a pool of
potential customers for CV4. We are now pursuing 15 open bids, which include
both new and legacy customers, one of which would be a significant transaction.

As far as legacy customers are concerned 3 of the top 10 North American renal dialysis chains are customers of CCL including National Medical Care, the largest dialysis provider on the USA.

The significant transaction talked about, I believe, relates to National Medical Care and is one which could represent several million pounds in licence fees alone.

The money is needed to boost the company's coffers generally but more particularly because "the Directors believe that several of these deals are predicated on the Group providing these potential customers with confidence in the financial position of the Group, which they believe that the Placing and the Open Offer will achieve."

Reading between the lines CCL have several potential customers lined up (including the biggie NMC) who have not yet commited to CCL pending guarantees as to their financial security. The placing (most encouragingly at practically no discount to the share price prevailing at the time it was announced) does just that.

Yet more interesting times lie ahead.

[moreforus] 12/8/2003 09:20

BP..bought a small chunk today...added to my holding from 1999 of 200 shares!!

Are you in CGR?? ... moving up everyday now and momentum is building...

[barnetpeter] 11/8/2003 18:20

Yes I agree chessman. The cash raised will support them for the contract wins. But I am getting a little nervous about every and any small cap going through the roof.

[chessman2] 11/8/2003 17:32

This stock is worth £1+ per share if they can sign some new contracts.
As soon as they announce a contract win or two the price will shoot up.
What is interesting is that like Merant many of the buys are in the afternoon which seems to imply that they are from the good old USA. I suspect that some buyers know about new contracts before us.
It would appear that they believe some contract wins are in the bag .At last this appears to be coming good!!

[moreforus] 11/8/2003 14:35

BP you should get out more mate!! (-:..i'm fully 100% vested and just gone into ITL...i traded this in 99 and 2000 and the spreads are pretty off putting ie it can go up 10% in a day but the spread is 11%!!

its good though - too many suddenly good stocks!!

[barnetpeter] 11/8/2003 13:49

Wake up people! This is a big winner. Up 8% today. Still time to pile in but be quick! When the contracts get announced ....

[barnetpeter] 08/8/2003 17:37

No, BP, talk to yourself.

Half million buys today and just 1000 sell. Big deals potential, shares underwritten at about the market price, undervalued company that will get picked up soon, BP.

I agree BP. Buy more next week?

Yes, BP, before the tipsheets pick up on this one. ,

Good idea BP.

[barnetpeter] 06/8/2003 20:08

No interest in this company? Looks ok to me.

[barnetpeter] 06/8/2003 08:55

LONDON (AFX) - Clinical Computing PLC said it is raising some 2.6 mln stg
before expenses in a placing and open offer at 40 pence per share to enable the
company to demonstrate to prospective customers that it is financially secure
and has the financial resources to maintain and support the products that it is
now offering.
The company also released results for the first half to June 30 2003 today
and these showed losses decreasing to 397,000 stg before tax from 598,000 a year
earlier.
Turnover was up 3 pct to 1.15 mln stg from 1.11 mln with some 80 pct coming
from the US. Clinical Computing said turnover was negatively impacted by the
weaker dollar in the period and the increase can be attributed to new customers
going live.
The board said today's fund raising strengthens the balance sheet and
provides working capital for expansion.
The placing consists of 6,430,051 new ordinary shares at 40 pence per share
and the open offer is being made to qualifying shareholders of 4,180,051 new
ordinary shares on the basis of one new ordinary share for every six existing
ordinary shares.
The placing and the open offer will be underwritten by Investec.
Chairman Howard Kitchner said the group is pursuing 15 open bids in respect
of Clinical Vision 4.0 (CV4), with both new and legacy customers, one of which
would be a very significant transaction.
"We believe that several of these deals are predicated on the group
providing these potential customers with confidence in the financial position of
the group, which we believe that the placing and the open offer will provide.
Kitchner said the company's goal in the short term is to capitalise on
existing relationships in the renal market and to work in partnership with
leading healthcare institutions in the US and UK to expand the specialties
supported by CV4.
He said the directors view the group's future prospects with confidence.
CV4 is now being used by five customers in the USA and the first UK customer
is due to go live later this month. CV4 was developed as a generic clinical
information system by the group. Its dynamic framework architecture permits
staff to generate new applications from the system's core package.
The group had no outstanding borrowings during the period under review.
Kitchner concluded that the group continues to actively market CV4 to both
legacy customers and new prospects, and it has approximately 90 legacy customers
that it believes provide a pool of potential customers for CV4.
Discussions are also taking place with several potential customers to add
new applications to the CV4 technology on top of the company's renal and
transplantation applications.

[barnetpeter] 06/8/2003 08:51

On a better day for the market, these shares would have shot up. Look at the comments made in the results below. Fully undwritten offer at about the current price. Plenty of potential deals, one of which is "significant" - presumably one of the big drugs / healthcare companies. No debt but short of cash, a problem which is about to disappear. Only 11 milion cap so plenty of room to move up. If they get some of the deals this should move up strongly. If they bag that big deal, this price will be history ....

Outlook

We continue to actively market CV4 to both legacy customers and new prospects,
and we have approximately 90 legacy customers that we believe provide a pool of
potential customers for CV4. We are now pursuing 15 open bids, which include
both new and legacy customers, one of which would be a significant transaction.
As always, the success and timing of converting pipeline to sales are subject to
normal business risk. Discussions are also taking place with several potential
customers to add new applications to the CV4 technology on top of our renal and
transplantation applications.

The Directors believe that several of these deals are predicated on the Group
providing these potential customers with confidence in the financial position of
the Group, which they believe that the Placing and the Open Offer will achieve.

Our goal in the short term is to capitalise on our existing relationships in the
renal market and to work in partnership with leading healthcare institutions in
the US and UK to expand the specialities supported by CV4.

The Directors view the Group's future prospects with confidence.

[orange1] 20/5/2003 15:53

You can read more about Advance Value Realisation at: www.pro-asset.com.

It is a successful investment trust which takes over stakes in small companies held by institutions in exchange for shares in itself. The institution is rid of its unloved holdings in small companies and AVR busies itself with trying to cash in its stake for the highest possible value. This involves AVR being "extremely pro-active" encouraging boards of the companies whose shares it holds to maximise value for its shareholders and providing external options involving third parties to achieve these objectives. In 8 companies they have been involved in requisitioning an EGM or AGM.

In short AVR take on unwanted holdings from institutions and then tries to maximise the sale price for these holdings by pro-actively "encouraging" the companies concerned to improve their performance and hence the return to shareholders.

Could be interesting times ahead.

[chessman2] 20/5/2003 12:51

Just back from a weekend in Barcelona.

At last this is looking good. The fact that the directors are happy and that a new shareholder is on the scene make this look even better.I suspect that the sales pipeline for this year is also looking good!!

[jeffian] 20/5/2003 10:58

I'm not sure how comforting it is to have ADVARC on board - they're pretty agressive on shaking 'value' out of underperforming companies. I hold LUP where they used their stake to vote out the old board and install their own people who are now liquidating assets and returning cash to shareholders. May be a good sign for CLC - or may be the cause of a few sleepless nights for current Directors!

Regards, Ian

[orange1] 18/5/2003 20:52

Well it's not too difficult to build a bullish case for CLC even if the past has been consistently disappointing.

The new product

CLC has a new product, Clinical Vision 4.0 (CV4).

CV4 is a clinical information system.It uses a dynamic framework
architecture, which allows CLC to generate new applications from a basic core
package. The first application built on the CV4 framework is targeted at CLC's
existing core market of renal medicine. CLC have also developed transplant
applications for the liver, kidney, pancreas and heart.

CV4 which is now operating "live" at four customer sites in the USA, while three more customers with whom contracts have been agreed are in the process of commissioning the product. Four of our first seven CV4 customers are existing customers who were using one of CLC's legacy products, while the three new customers are either new users of clinical systems or customers replacing other competitive products.

Turnover for 2002 - good percentage of recurring income

CLC's turnover (stg 2.4 mio in 2002) is derived from the provision of software and services in the area of clinical information solutions for healthcare organisations, primarily those that specialise in renal medicine. The Group's main source of revenue at the present time continues to be from support and maintenance contracts for its legacy products: PROTON, di-PROTON, RENLStar as well as Clinical Vision. Total maintenance and support revenues accounted for 54.1 per cent of total turnover in 2002.

Market opportunity

In each of CLC's selected geographic markets, United Kingdom, United States, and Australia/ Asia interest in clinical information systems is growing among
clinicians struggling to balance increasing patient expectations, care provider
demands for cost effective treatment, and continually evolving medical best
practices. Medical technology is becoming more focused on enterprise-wide
standards, and clinicians are increasingly required to adopt information systems
to meet both the reporting needs of the institution and the needs of their
clinical work. CLC believes that the resulting trend towards inter-operable systems will require many existing clinical systems to be replaced.

CLC's existing renal dialysis client base, should they choose to upgrade to CV4, would be good, in my view, for at least 5 mio of new licence fee income for CLC. This ignores maintenance fees. It also ignores revenue from new customers.

Director commitment

CLC had cash and short-term deposits in hand at 31 December 2002 of
approx. stg 0.5 mio. This cash balance along with our expected cash flow from new CV4 customers, on-going maintenance contracts and cash available from two committed debt facilities totaling stg 800,000, gives the CLC directors confidence to continue to pursue their current strategy of developing the business around CV4. So confident are they that certain directors have provided personal guarantees in respect to one of these debt facilities in the amount of stg 400,000. These directors have received no compensation or other benefits for doing so.

A brave move on their part but one which clearly exudes confidence. You either have to be mad or very confident to give a personal guarantee.

New director and new substantial shareholder

Late last year a new director with an impressive CV appeared on the scene: Alfred Elbrick, who for many years was a General Partner of Alex Brown & Sons, the securities house, which later merged with Bankers Trust, executing a number of technology, healthcare and Bio Tech IPOs. These included the likes of Computer Associates, Microsoft, Silicon Graphics, Sun Microsystems, Oracle, Infosys,Valley Labs, Stryker and Haemonetics. He opened Alex Brown & Sons' first overseas office in London, in 1985.

In April of this year Second Advance Value Realisation picked up 13.31% of the issued shares of CLC.

So potentially it could all finally come right in a big way for CLC.

Orange1

[jeffian] 16/5/2003 15:57

Well something seems to be up now:-

It's just been tipped to me and I know nothing about it other than what I see on this thread and the recent published accounts which look none too exciting. Anyone know anything about this or what might be causing current share price movement?

Regards, Ian

[colsmith] 26/7/2002 09:48

spread - MA, look at ADFN chart and plug in 25, 100, 200. 25 up thru others around 32 and A today 39 having eased. However to be precise no chart as you must know "states" a BUY explicitely so the wording should be "indicates" a BUY and as you rightly say price could go either way - but then this is the old problem with charts they are never a 100% guarantee of the next move its all interpretation. Pity really becasue we could all be winners if they were explicit but then there wouild be no losers to fund the winners. The rapid rise is perhaps too much though, which in part, together with the DIR sell raises a warning flag. Personally I don't feel comfortable with this stock (only my view and no reason I can state) and have missed a 50% plus rise over time I have watched as not bought as it seems to be a stock that is "manipulated by market" bit like CYC I suppose.

[spreadit] 26/7/2002 09:26

what chart are you using -the one I look at says it could go either way

[colsmith] 24/7/2002 09:58

This difficult to call - chart says buy, but recently director sold 20K at 30p. No news but rises strongly when market going down? Wonder if takeover possibilty as healthcare software one means to drive down costs but who could that be MISYS? Any info views?

[a.fewbob] 23/7/2002 23:12

probably set to benefit from government spending on the nhs.

[chessman2] 23/7/2002 20:51

This stock is starting to look a lot better!
I suspect that they have signed 1 or 2 good contracts. It also helps that the MMs have no spare stock.
Regards

Mike W

[spreadit] 23/7/2002 19:02

orange I am looking to buy and have bought ,had a nice gain already but I will not be suprised if the share also falls back-I just see it as another buying oppurtunity-you ask why?I have been a holder and buyer for a good few years and in market conditions like these I would not like to tell you why -good luck and DYOR
regards Steve

[orange1] 15/7/2002 09:47

Price still gapping up every morning as the Market Makers try and weedle stock out of sellers. Trouble is not enough is forthcoming, so the bid is steadily pushed up - and to make matters worse for them buyers are appearing too. The price has now risen 60% since the beginning of June which begs the questions: who is looking to buy and why?

[orange1] 11/7/2002 09:34

The recent results as such were not overly exciting and the company revealed that it was behind schedule with the development of its new product: "We are several months behind the initial development targets we established at the end of 2000. This has impacted the results for 2001 and may have an impact on 2002 results."

But the company remains bullish: "we remain focused on completing this development effort in 2002 and our recent experience indicates that Clinical Vision will be successful...... We enter 2002 with a stable customer base for our legacy products and an order book of Clinical Vision contracts worth in excess of £750,000 at the end of 2001. We believe our contract gains in the US are creating market awareness for our new technology. We expect that European orders should start to filter in during the second half of 2002."

The stable customer base for the legacy products are of course ideal potential customers for the new product.

Following the results the share price drifted down to 24p where it stood at the beginning of June. Steady buying, particularly in the last few days where purchases have been made at a premium over the market price, has pushed the price back up to 35p. In the light of the current market weakness .... intriguing.

[spreadit] 18/3/2002 23:10

orange1,
I wish you well with your holding in clc,I havent held as long as you and understand your point,I think you will see past your 125 we just need more sales and new contracts to filter through which is happening (although slow)market sentiment is also picking up,the reason I was attracted to clc was due to the small amount of shares in issue and a very interesting product(s)with good growth prospects and any sign of interest will see this share being pushed up quikly only if we see more sales and profits .I beleive Broker Invetec Henderson Crosthwaite are forcasting eps share of 4-5p for year 2003(dyor) .If clc doesnt reach eps of at least 3-5p by 2003-04 then I shall consider selling because we really do need to see sales = eps which I beleive will happen this why I am still holding as I guess you are, anyway results are out soon and we shall see which way this is going,lets hope our patience will be rewarded till then lets comment on or after results
(as always dyor and good luck)

regards steve