Crimson Tide Share Discussion Threads

[21richyrich] 20/2/2012 18:32

tick upwards today, maybe the tide has turned lol

[21richyrich] 07/2/2012 18:54

Have been holding these 12 months, bought after the Helium special situations fund invested back in January 2011.

As previously commented very little interest here, but that is not necessarily a bad thing imho.

Partnership with Mobile Tornado announced back in July was interesting as it is owned by Peter Wilkinson of Planet Online, Sports Internet, and Freeserve fame and hopeful of good trading update from TIDE in 3 months time

Looking at other overlooked AIM stocks that have announced better than expected results recently and seen their share price rocket am hoping TIDE will be one of the next....

All imho of course

[21richyrich] 12/5/2011 12:51

12 May 2011
Crimson Tide plc
Preliminary Announcement of Results to 31 December 2010
Crimson Tide plc ("Crimson Tide" or "the Company"), a leading service provider of mobile data and software solutions for business, is pleased to announce its unaudited preliminary results for the year ended 31 December 2010.
Financial Highlights
-- Maiden full year profit before tax of GBP7k (2009: loss of GBP67k)
-- Revenues from core mobile data solutions and software increased by 13% to GBP1.3 million (2009: GBP1.1 million) as the Company continues to move away from lower margin work
-- Total revenues increased to GBP1.51 million (2009: GBP1.46 million)
-- GBP516k raised (net of expenses) with a further GBP500k before expenses raised in January 2011 to fund expansion
Operational Highlights
-- Significant contract wins including Associated Newspapers, Manchester City Council Hydrex and major US healthcare provider shows diversity of client base and relevance to different sectors
-- Further development of own brand software product, mPro
-- Landmark contract win in South Africa underlines potential outside UK and Irish markets
Barrie Whipp, Executive Chairman of Crimson Tide, commented:
"2010 has proved to be a milestone year for the Company. We achieved a maiden profit in the timeline that we set out at flotation, despite the incredible economic turbulence that has been experienced since then. Also, and more importantly, towards the end of the year and in the beginning of the new financial year we succeeded in raising the necessary equity to drive growth and take advantage of the enormous opportunities available.
"This strong performance has continued into 2011, where in the first quarter we added more subscribers than ever before and also expanded our pipeline significantly. Our income from contract wins is only recognised on a monthly basis, and our contracted revenue book has increased substantially. With a strong, profitable platform and the funding needed to cater to our new business leads, the Board views the future with confidence."


Chairman's Statement
The results for the year ended 31 December 2010 reflect the Company's first annual profit before tax since listing on AIM. The figures are entirely satisfactory and in line with our expectations. They do not, however, reflect some significant events which occurred in the second half and beyond which give the Directors a great deal of confidence for the future.
The Company's growth had been restricted by the lack of working capital available to fund its subscriber business. Debt was virtually impossible to secure and capital for smaller companies scarce. At the end of the year, however, we were able to secure equity with the help of WH Ireland which, along with a further tranche issued to the Helium fund early in 2011 enabled the Company to plan with more certainty and finance the subscribers we need to fulfil our business plan.
This growth is being seen in the first quarter of 2011, where we have added more subscribers than ever before and have also expanded our pipeline significantly. Average subscribers per transaction has increased and we continue to experience very high rates of renewal.
Significant contract wins included Associated Newspapers where, each night of the working week, the delivery of over one million Metro newspapers are recorded using our mpro system. At Manchester City Council, field instructors record membership details of people taking part in an Active Lifestyles scheme. At Hydrex, a major supplier of plant & machinery for hire, engineers use mpro's asset management capabilities to service heavy duty equipment. We also won our first contract in South Africa, proving our solutions are not limited to the UK and Irish markets.
During the year we also launched our own brand software product mpro3. A significant amount of development took place, learning from the requirements of our customers and the product has now evolved into mpro gemini, a system which adds asset and part management to its capabilities. Shareholders should note that only a small amount is capitalised in the Balance Sheet in respect of this development.
As we have moved into 2011, the emphasis of the company is focused on further growth in the subscriber book. We have, for the first time, been able to finance a comprehensive marketing campaign, which has rebranded our solutions under the mpro name. The challenge now is to deliver the solutions to the opportunities we have identified, using the capital that has put us in a position to deliver with confidence.
Crimson Tide has a team of skilled, committed people who are dedicated to the Company's success. As ever, I thank them sincerely for their efforts. I also thank the shareholders who have supported us, both in recent times and those who have remained steadfastly with us since we listed on AIM.
Barrie Whipp
Executive Chairman
12 May 2011

Operating and Financial Review
I am pleased to report our first full year profit before tax since coming to AIM and the positive progress Crimson Tide continues to make in growing our core mobile data solutions business.
OPERATING REVIEW
Over the year, Crimson Tide remained focused on growing the subscriber base of customers, supplying them with our mobility software applications, on handheld pda or smartphones, synchronised to a secure database, in return for typically a three year subscription agreement. The customer is able to rely on our technical I.T. skills to quickly implement a mobility solution that allows their mobile workforce to achieve often significant efficiency and productivity gains, avoiding the associated capital cost and achieving a visible return on investment in a short timescale. There has been no slackening in interest despite the economic conditions, as the solutions we provide become increasingly essential to maintain competiveness.
As previously reported, the greatest risk Crimson Tide faced was insufficient financial resources to fund the growth of our subscription book and satisfy customer demand. In the future, we expect that our range of maturing subscribers will generate more than sufficient cashflows to fund the devices required by new subscribers but until that point is reached, our subscription model requires working capital resources. Various avenues of finance were explored over the year without success until in October 2010, we were able to announce a placing through W.H. Ireland that raised GBP516,000 net of expenses, closely followed by another in January 2011, when we announced a placing with the Helium Special Situation Fund which raised a further GBP500,000 before expenses.
The Board of Directors and management team regularly monitor key performance indicators and trends to help manage the business and ensure we are on course to achieve our strategic and financial objectives. These include statistics concerning our subscribers and future contracted revenues, cashflows and the lag between selling our services and delivering the solutions. Our performance for most of 2010 has been frustratingly held back as a result of our funding issues as we juggled resources between day rate software development work to generate immediate cash, and our strategic push for more subscribers. With the funding requirement resolved, we have been able to immediately accelerate subscriber additions, signing agreements for a significant number of new subscribers since November 2010, and renewing agreements for a further three year term for over 150 existing subscribers. Our contracted book of future subscription revenues now totals over GBP1m.
With the financial risk dealt with, Crimson Tide is in a strong position to grow the subscriber book much faster whilst remaining cognisant to balance the rate of growth with shareholder demands to now see increasing profitability. The business is taking the opportunity to greatly expand its sales reach through new channel partners, experts in mobile telecoms but not software, each with customer bases potentially requiring our solutions. In addition, we have commenced new marketing initiatives (marketing spend in 2010 was negligible) to generate leads both via the channel and directly. We are recruiting additional staff to improve our productivity, and we continue to invest in our core applications to further improve functionality and reporting and add additional operating platforms. The nature of the subscription model means that as we progress through the year, a greater proportion of the value achieved from securing new subscribers as a result of this investment will actually benefit future periods, so current year overheads will continue to be closely monitored and controlled to maintain the balance required. Going forward the business will benefit from significant economies of scale as subscriber growth can be achieved with a proportionately much lower increase in headcount and other operating costs.
FINANCIAL REVIEW
Crimson Tide is now mostly focused on providing mobile data solutions as the move away from lower margin reselling activities continued during 2010. Despite the financial constraints, turnover from providing mobile data solutions and software development services increased in 2010 to GBP1.3 million, up 13% from 2009 whereas turnover from reselling and supporting software solutions fell to GBP210k down from GBP315k in 2009. We were able to achieve a further 5% reduction in administrative overheads in 2010 giving a total profit from operations of GBP29k versus a loss in 2009 of GBP21k. After interest costs, we achieved a profit before tax in 2010 of GBP7k against a loss in 2009 of GBP67k.
Shareholders should note that the carrying value of capitalised software development at the end of 2010 was only GBP140k reflecting only a small proportion of the intellectual property value of our mPro software applications. Consequently, in future periods Crimson Tide's profitability, unlike many other software businesses, will not be significantly adversely affected by material amounts of amortisation.
Shareholders should also be aware that following receipt of the placing proceeds in January 2011, the Board of Directors has decided to repay the outstanding loan from the Goodwin Accumulation and Maintenance Trust to eliminate unnecessary interest costs. Cash balances following the repayment and after taking into account expenditure of GBP135k on handheld devices for subscribers in 2011 to date, will still be above that shown at 31 December 2010.
There have been no changes to Crimson Tide's accounting policies which can either be found in the notes to the published 2009 Consolidated Financial Statements or the 2010 Financial Statements when released in the next few weeks.
FUTURE PROSPECTS
Crimson Tide's employees have performed superbly in 2010 in sometimes difficult circumstances. With appropriate working capital funding in place, the business is able to at last focus on growing the number of subscribers at a much faster pace. We are all excited about the future and very much looking forward to delivering the returns both our shareholders and employees have patiently waited for.
Stephen Goodwin
Chief Executive
12 May 2011

[21richyrich] 12/5/2011 12:36

Crimson Tide
SPECULATIVE BUY
31/01/2011 Miles Nolan
Crimson Tide (TIDE) has won a major £290,000 contract with Associated Newspapers to provide circulation tracking for the Metro newspaper. Using its in-house software product mpro the media giant can accurately monitor deliveries of the Metro to distribution centres and paper racks throughout London.
The contract was secured after a lengthy test period and includes 6,000 newsrack barcode tags and 115 Motorala smartphone devices. Launched in 1999 with 85,000 copies the Metro now prints 1m copies and is the world's largest free newspaper as well as the third most popular paper in the UK.
Crimson joined AIM in 2006 and provides investors with an attractive investment proposition. The sales model has already attracted 115 users with contracts that typically span three years bringing in useful recurring revenues. Crimson pays out for the kit needed to deliver its service but thereafter is locked into a strong and profitable income stream.
Canny investor David Newton of Helium Special Situations recently invested £500,000 at 1p a share to take a 11.4% stake. The funds will allow marketing spend to be stepped up as Crimson works to widen its customer base. Its end markets span areas such as warehousing, surveying, nursing and facilities management. One example of the product in use is by haemophilia patients recording time and medicine useage.
Named after a football team in Alabama the business is now starting to gain real traction and with a near break-even position expected for 2010 brokers expect a good swing to profits in the current year. Crimson has developed a technology with wide appeal so there is plenty of scope for new contract wins and further out it could be a useful target for a major. Speculative buy.

[trackerjack] 31/1/2011 13:24

An article on Crimson Tide has just gone up on GCI - see below

[21richyrich] 18/1/2011 12:42

Crimson Tide (AIM: TIDE.L), a leading service provider of mobile data solutions for business, is pleased to announce that it has raised GBP500 000 (before expenses) through a placing ("the Placing") of 50,000,000 new ordinary shares of 1 pence each (the "Ordinary Shares") at a price of 1 pence each (the "Placing Shares").

The shares have all been placed with The Helium Special Situations Fund which, following the placing, will have an interest in 11.42% of the Company's enlarged share capital. The fund has a dedicated focus on long-bias small and micro-cap companies in the UK and is and is co-advised by IS Partners Investment Solutions AG, based in Zurich, Switzerland and by David Newton. The proceeds of the Placing will be used for expansion and working capital purposes, particularly to finance anticipated subscription contracts.



-very positive IMHO esp the directors comments later in the RNS , surprised this has not yet been picked upon, David Newton is a major investment guru so if he is impressed then that is all I need to know!

[lunartik] 06/11/2010 10:38

23 years late, mate.

[scrapheap] 14/10/2010 08:02

Today's equity fund raising is no mean achievement these days and should help ramp up the business and it's bottom line if the results are anything to be believed.

It's a shame the price is just 1p as that's somewhat dilutive to we existing s/sders and with over 330m shares in issue that's going to take some earnings growth to justify much of a price movement going forward - ideally they should do perhaps a 100-1 share consolidation before too long.

Good news however and now it's time to 'show me the money' in their trading.

[scrapheap] 28/9/2010 18:47

I won't take that critique personally!!

Thanks for posting this link, ok Arbuthnot are the house broker but even so we like seeing a strong buy recommendation. I wonder if I can get hold of their research report on Tide..

Nice rise today, could do with rather more of those however.

[thebigbadone] 28/9/2010 14:09

just seen a strong buy recommendation for this stock:



but agreed - looks like the most boring BB i have ever read!

[scrapheap] 08/6/2010 07:45

seem to be announcing news at least once a month at the moment... if this continues, the business may finally ramp up!

[scrapheap] 07/6/2010 09:03

another piece of good news today....

[scrapheap] 04/6/2010 19:31

you should have seen it when it was Chen!

it's blue chip now in comparison.

[future financier] 03/6/2010 14:21

Can somebody explain to me why a company with no profits in living memory, net (tangible) liabilities and no real "killer" products has any value?

Looks to me like a "dot-bomb" of yore!

[aratrum] 28/5/2010 17:05

Respect Damac

[damac] 28/5/2010 15:47

My trade is yet to show but I have just bought 250k shares at 1.5p

[scrapheap] 28/5/2010 09:45

it was fun whilst it lasted

[scrapheap] 28/5/2010 09:42

if you are going to ramp, this is the deadest bb in the world so you've wasted your time!!

Just me to impress and I'm potless.

[scrapheap] 28/5/2010 09:41

we've struck oil on the island??????????????????

[cliley454] 28/5/2010 09:40

Top of the leader board,but looks like we missed the boat with this one.
Off topic take a look at MPS, market cap just £400k. I've posted some research on the bb.

[scrapheap] 09/4/2010 08:18

good contract news today...

she's alive !!!!!!!!!!!!!!!!