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Share Name Share Symbol Market Type Share ISIN Share Description
Cyanconnode Holdings Plc LSE:CYAN London Ordinary Share GB00BF93WP34 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.40 -5.13% 7.40 7.20 7.60 7.80 7.40 7.80 439,259 12:58:03
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 2.5 -6.2 -3.3 - 14

Cyanconnode Share Discussion Threads

Showing 25201 to 25224 of 25400 messages
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DateSubjectAuthorDiscuss
14/9/2020
14:38
I'm not formally an accountant, though have chaired an audit committee. I'd observe that the timing of actual cash payments is more important than the recognition of revenue.I'd emphasise that point again in relation to an emerging market that is severely impacted by the pandemic.In other news, which UK meter suppliers carry Cyan kit on board? I ask because I am now switching suppliers for fuels and the outgoing supplier (npower) claim they can't install due to distances in the building. Clearly no Cyan kit there!
emptyend
13/9/2020
21:12
Many thanks tightfist - though I am not sure I fully understand ! From conversations in the past (about 2 years ago), I got the impression that we make about $14-15 per smart meter NIC card. However, most recently in the BRR media presentation JC talks about 922k meters being worth $24m - or approx $26 per meter, which came a very welcome surprise. Of this about 80% of the revenue is recognised in the first two years and the balance 20% (the AMC bit) over the remaining 3 years. But one would expect significant volume discounts to come, so even if we use my much more conservative figure of $14 per smart meter, will still translate at only £0.71 pa ? You may be aware that there is Q&A session with John and Heather scheduled for Tuesday, 15th Sep morning as per the RNS - so I suppose the accountants can grill them :) Kind regards and many thanks,
multibagger
13/9/2020
20:20
Hi MB, .I am from a Business Management background executing multiple projects, each with accompanying DCF models which were our lifeblood..I suppose the first valuation idea you can get is the £6.8m paid by Cyan for the Connnode acquisition on 14th June 2016. IIRC this was mainly in respect of (1) the Connode advanced IP and (2) the prospective income stream from UK SMIP Not-Spots RF mesh Support Fee..I havnt gone off and checked my facts OR PROBABILITIES AND IMPACT OF DELAY, but the prospective size of the prize in India must surely be orders of magnitude greater than UK SMIP Not-Spots which seem to have been estimated at 1.8m units. In gross terms these seem to have been valued undiscounted at £0.71 pa over 15 years which is similar to the figures we are seeing from India where it is only over 5-6 years, but subject to renewal..Hope that helps, tightfist
tightfist
13/9/2020
08:27
Good morning and many thanks tightfist ! Yes though I have recognised the value of future, recurrent revenues to the business, I wouldn't know how to calculate it in the manner of an Accountant. Is this the same as DCF (Discounted Cash Flow)which I know is one of the valuation methods that is used in businesses before they are sold on ? You may be from an accounting background (or maybe some others are ? Emptyend), and hence would look forward to your take(s) on it, if you have the inclination and find the time. TIA :)
multibagger
11/9/2020
08:36
Hi MB,.Yes, it's no accident that this loan/convertible possibility found it's way into the results/RNS. For me the cash pinch-point was passed some time ago - I was assured sometime ago that working capital could be funded "another way". But I am an optimist!.Something we havn't mentioned is the value of the IP and (discounted) future utility recurring revenue. I have always judged this to ultimately be far in excess of the current EV and is a source of comfort to me..Cheers, tightfist
tightfist
11/9/2020
07:29
Good morning and thank you tightfist for your observations. To me, alignment of the fortunes of the BoD with the small investor is an important part of my investment framework. And though that we are not yet profitable, the BoD share my optimism that things will work out very well. From the corporate world, we all know that even what eventually turn out to be very successful companies, have long gestation and loss making periods. Patience is key and courage of conviction is even more hugely important ! With regards to the "offers of convertible notes" mentioned - on reflection, I think that this was intentionally weaved into the RNS, as various posters on this and other threads have always queried whether the CYAN has the wherewithal to avoid bankruptcy/liquidation ? Also with the rapid expansion of orders, one would expect a proportionate need for increase in working capital - hence the mention,I think, to avoid this speculation possibly ? Good to know we have access to funds, outside of the historical dilution route. Good luck all :)
multibagger
11/9/2020
07:23
MC - I’ve signed up for the £25 per month option, so gradually working my way through the research available. Is it worth it I’d say depends on the size and profile of your portfolio. I’ve loaded in c.30 holdings I currently have and there’s plenty to read. However lots of the brokers provide coverage free anyway - Cenkos, Finncap, Allenby for example. I like the dashboard however which provides latest prices, rns’s and latest research all on one screen which saves me a load of time switching between sites - so for me worth the money.
techno20
11/9/2020
07:10
Hi again MB,.Following up on #1236, I note towards the end of the 4th September results ".....Should the Group experience such downside sensitivities the directors would first continue to look at measures such as cost reduction and working capital facilities as ways to conserve cash within the business. The Company has offers of convertible and secured loans which it could accept should such a requirement arise....".It's useful to be aware of the last sentence, hopefully the requirement will not arise.......Cheers, tightfist
tightfist
11/9/2020
06:37
Hi MB,Thanks for your list. One other compelling reason for me is Skin-in-the-Game by the BoD. I have other shares with comparable levels of ownership - however, recurring incremental buying with their own cash on this scale, and over this duration, seems exceptional. And the background pressuring of the NED is notable..One can be sniffy about their associated options rights - but it still seems exceptional..Personally, I am more orientated towards cash as opposed to profits. Cheers, tightfist
tightfist
10/9/2020
20:38
I was unaware of research tree, I just signed up and it looks like a very interesting resource. It looks like you have to pay in order to gain access to the full report (the latest Arden note, for eg) Does anyone here think it’s worth the money to become a fully paid up member? Thanks in advance. MC.
major courtenay
10/9/2020
16:51
Thanks for the thought, multibagger. I'm in Scancell for a specific reason but may keep an eye on MXCT for the future.
emptyend
10/9/2020
13:32
O/T Hi Emptyend, just saw that you appear to be in Scancell. I used to hold SCLP several years ago but I can't immediately recall why I sold out, albeit at a decent profit. You may wish to check out Max Cyte MXCT - very high potential in my view - multiple irons in the fire. DoI: I hold MXCT
multibagger
10/9/2020
08:55
We are not yet profitable as you know. However, a few things stand out for me which gives me confidence of potential profitability in the next year or two. 1. We are actually getting the revenues for contracts "that had been announced", which has been a real problem and was an Achilles Heel. However, we seem to have learned from this and started getting some cash upfront and also securing the same with Letters of Credit. 2. We appear to have become more selective which tenders in the developing world that we actually bid for - for eg. smart metering projects funded (and possibly ring fenced) by Organisations like Asian Development Bank, US AID etc, 2. The operating cost base has been pared down very significantly- we were burning through almost £900k a month, now we are spending ballpark £345k/245k per month (may be the accountants on this Board can help with which of the 2 figures is accurate). 3. We appear to have narrowed our countries of focus to the ones which are generating revenues (not spreading ourselves too thin) - to me now it is Nordics, India, Thailand and UK. 4. India is a possibly as big a market you can get ! And we have the biggest deployment to date in our flagship Indore project - which is being used as a Reference Site / Centre of excellence. I could go on...but you get the background to my optimism :)
multibagger
10/9/2020
07:37
Morning MB, You encouraged me to do something I should have done an age ago and sign up to Research Tree. A significant amount of the content is free from the relevant brokers, but there’s still a reasonable amount on there that’s not. Unfortunately the Arden note doesn’t give anything I didn’t already know, providing no forecasts or forward guidance / commentary. The key issue for me are how far off is profitability! Even with £20’odd million of Indian orders, given the cost base, it still feels some way off??
techno20
10/9/2020
06:36
Good morning Techno20 (and all) Arden (the CYAN corporate broker) had put out a Research Note on 04 Sep - but no mention of any target price. Not sure if we'll get any other Broker coverage. Good luck !
multibagger
09/9/2020
21:34
Thanks MB for your response. I’m going to hold back for now and see if the share price drops back a tad over the next couple of weeks. Hopefully we might get some broker coverage in the meantime.
techno20
09/9/2020
13:05
Https://www.tenderdetail.com/Indian-tender/smart-meter-tenders Gujarat 700k smart meter tender : Closing 14 Sep 2020 Assam 125k smart meter tender: Closing 22 Sep 2020 Punjab 117.5k smart meter tender: Closing 22 Sep 2020 I am hoping/ guessing we may/would be in the running ?
multibagger
09/9/2020
10:41
Liquidity tightening up but not yet showing on L2 ? I could "dummy buy" 150k @ 5.5p a few minutes back, but down to 10k now being available. Looks like some stake building or a large order being worked. I guess that may mean that we finish the day blue !
multibagger
09/9/2020
10:12
Hi techno20, Commiserations and I am sure virtually all long term holders are underwater. If it is any comfort to you, one of the posters on the other thread, estimates that Chairman John Cronin average price is around 27p NED David Powell is around 21p (but may be lower as a lot of EIS holdings apparently) However, some may have a better average price, as they may have averaged down. From todays BRR media presentation is appears 922k meters = about $24m in revenue over 5 years. But this is a rough indicator and I am sure there would a lot of detail in the revenue streams that may affect this. Given that we are yet to scratch the surface of the 250m Indian smart meter market (apparently about 1.5m deployed so far in India), indicates that the potential upside far outweighs the downside. I have averaged down over the lean years, so in a much better place now share price average wise. I am optimistic about the company and its prospects/rose tinted at this juncture, but I am generally a glass half full kind of person ! Good luck, whatever you choose to do :)
multibagger
09/9/2020
09:30
Been invested in Cyan for what seems like forever. Topped up numerous times - currently around 85% down. But, tempted to throw caution to the wind and average down, again! Are there any forecasts in the market - can’t see any at all. Can’t see any commentary on the Finncap website. Any help appreciated!
techno20
09/9/2020
09:19
So we are currently involved in 3 major smart meter roll outs in India at this time - in total 922k have been awarded to us ( in consortia with the meter manufacturers). Then of course, there is Thailand, Nordics and maybe / potentially some left field projects we have no inkling off! Indian tenders are being announced despite the Covid situation...so we will be bidding on more Tenders as and when they are announced, I would imagine. My eye is on the outcome of the 700k Adani Tender for Mumbai which is scheduled to close on 14 Sep 2020. Not sure when the contract award will be announced, but I guess 1-2 months after closing date would be a reasonable expectation ? India plans to eventually roll out 250 million smart meters - though they say over 3 years, this is unrealistic. I think around 10 yrs or so is more realistic. So plenty to play for :) Good luck all !
multibagger
09/9/2020
07:32
Highlights from today's presentation by John Cronin: 922k modules due to be deployed in India over 2yrs (55k delivered already) Contract value of above is circa $24m and 70-80% of the revenues will be recognised over 2 years and the balance over the remaining 3 Letters of credit with cash upfront in a short time helping cashflow Http://cyanconnode.com/presentations-and-videos/ Good luck all :)
multibagger
09/9/2020
07:08
Hi MB,.Thanks for the reply re loans, etc If I Recall Correctly (IIRC) I don't remember a historically relevant RNS, either so I'll take a look at the Annual Report..I am not a close watcher of trading protocols so cannot meaningfully comment on Second Price Monitoring Extensions, except to say that they often seem to occur during times of high demand - but other occasions they seem out of the blue. Re-reading the LSE text was quite helpful. Why they are RNS'able is a mystery, but these days I keep things simple and only trade intraday and take (or leave) an instantaneous quote..I wondered if it flags a good Sell opportunity, maybe I'll talk with my broker, maybe another poster can advise. I have never noted them causing my companies any harm!.Cheers, tightfist
tightfist
09/9/2020
07:00
Multi, Iirc - if I recall correctly. Best regards sbp
stupidboypike
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