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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Deltex Medical Group Plc | LSE:DEMG | London | Ordinary Share | GB0059337583 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.005 | 4.88% | 0.1075 | 0.10 | 0.115 | 0.1075 | 0.1025 | 0.10 | 15,396,070 | 13:12:53 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electromedical Apparatus | 2.48M | -1.15M | -0.0006 | -1.83 | 2.03M |
Date | Subject | Author | Discuss |
---|---|---|---|
23/9/2019 18:12 | >>BigT Interesting and valid points, I'm sure, but also, arguably, completely wrong Well worth noting that Cheetah also issued shares year after year after year and never got close to cash break-even. Less than 3 years ago it was definitely no bigger than DEMG and still probably has only a similar installed base and a similar level of repeat consumable sales, with nothing like the global presence or evidence base Yet despite being capital dependent, Cheetah just got bought for $230 million - 33x current DEMG market cap. Why? Because it kept on getting backed to keep on pushing hard even when the markets were tough Looks like the real problem here is DEMG got caught between two stools and raised too much money to keep UK markets happy but nothing like enough to compete in the US Of course this may just be a transatlantic cultural difference, but it also explains why there are many, many times more big US medtech companies than British ones | schloo | |
23/9/2019 16:15 | gbenson1 23 Sep '19 - 16:10 - 10407 of 10409 I’ve been here since they were circa 25p, my investor No is 00001, yes they are undervalued but the market fell out of love with them a long time ago --> Not helped by the issuing of shares, year after year after year....despite being told by THE COUNT that it was going to damage the share price The company has finally positioned itself in terms of cost base and being able to generate cash (although not much at the moment). This is where it should have been years ago. It has to win back shareholder confidence by producing cash generating results, half after half....over time the share price will move up. | bigt20 | |
23/9/2019 15:43 | Likewise been around for ages. Bought massively in the rights issue at 1.25 and also between 0.7 and 0.8p. TC and I caused a reversal in the price at that level. | nobbygnome | |
23/9/2019 15:40 | There was another £13,500 in July so £51,000 this half from options plus the grants announced this morning plus the $0.25m from the very nice Edwards Lifesciences | schloo | |
23/9/2019 15:10 | I've been here since they were circa 25p, my investor No is 00001, yes they are undervalued but the market fell out of love with them a long time ago, picked some up @ 1p so it's not all bad. | gbenson1 | |
23/9/2019 15:05 | Sorry I hadn’t even seen the announcement today! So £37,500 in total.... And from all we know the company is ridiculously undervalued! | nobbygnome | |
23/9/2019 14:27 | Hi Nobby you do try hard!! I realise this is the last of 3 tranches, from today, early Sept & late Aug, but then again you knew what I meant! | gbenson1 | |
23/9/2019 14:20 | >> gbenson Two lots of £12500 so £25k in total. | nobbygnome | |
23/9/2019 14:19 | So schloo you are expecting the company to be taken over before February next year? If that is true, it’s looking ridiculously undervalued going by the Cheetah acquisition price. It’s got to be a strong buy at this level IMHO.... | nobbygnome | |
23/9/2019 14:08 | They will move in time - small companies rarely move much on results day unless with a big surprise, especially if mostly held by PIs | mrc2u | |
23/9/2019 13:32 | Interims as expected, options just bought for £12,000 so a little more money in the coffers, I'm really disappointed at the appetite for shares so far today, are we going to have to wait for the finals in Mar 2020 for any real uptick in the Sp? | gbenson1 | |
23/9/2019 13:18 | My hope & expectation is for an exit long before Feb 2021 - indeed, I think before Feb 2020 is on the cards | schloo | |
23/9/2019 11:17 | schloo Re operating cash £73k in 1H accounts and ignoring other working cap movements as will balance out over time BUT you do need to include interest of £69k and capitalised dev expenditure of £138k which won't go away I assume. Not expecting a fundraising for operational reasons in next 12 months as underlying burn reduced to £0.5m/annum (my calc) or less and they have some one off income in addition to £0.6m in bank. However, if they want to grow they need to invest CLNs £1.1m not due until Feb 2021 | dj trading | |
23/9/2019 10:54 | >>DJ Trading Two different questions re cash 1. Do they need to raise any more? Clearly not 2. Are they operating cash positive? I think they are, albeit marginally, and are well on track to do so for the year with additional sales to distributors at end of year. If you look at the operating cash before working capital movements, it was £73,000 positive (£12,000 a month): crucially this is £942,000 (£157,000 a month) better than in the first six months last year Re the competitor "being very nice", suggest you dyor to understand the point, but happy to explain if you need me to | schloo | |
23/9/2019 10:18 | Schloo - re underlying cash burn Everything you have mentioned above is a one off not underlying! Contract termination 0.2m, grants and option exercise (aka fundraising/dilution at 1p!) You need to look at other working capital movements to see the real story Re your earlier comment "DJ Trading - You are forgetting that the reduction in debtors is mostly offset by a reduction in short term borrowings (an invoice discounting facility) of an average of £47k/month" No I haven't the cash gain of 20k/month includes this as I always quote "Monthly cash burn -(Movement in cash balance + financing)" and the "Outflow from decrease in invoice discounting facility of £281k is included in financing in cash flow in the statement" So I stick with my earlier calc that cash gen of 20k/month less other movements in working cap of 61k/month in H1 gives an underlying H1 outflow of £41k/month circa £0.5m/year And "Schloo one of the most likely buyers is being very nice to them indeed with a $0.25m payment in H2" Since when has terminating a profitable contract been "being very nice" presumably somebody else will get the benefit and perhaps sell more? DJT | dj trading | |
23/9/2019 09:47 | >>schloo Doh! I typed the wrong address twice! Sent now... | nobbygnome | |
23/9/2019 09:39 | >>Nobbygnome Not got anything >>DJ Trading Buyers are far more likely after the Cheetah deal, especially as DEMG has a fully approved direct competitor technology to Cheetah's on its platform already; one of the most likely buyers is being very nice to them indeed with a $0.25m payment in H2; your underlying cash burn number is wildly over done: looks like they are averaging £10,000 to £20,000 a month positive going into stronger second half with grants, $0.25m termination bonus as well as option exercise cash to come; the third party product will have been set up at a 40% margin for DEMG as distributor but this will have fallen to closer to 20% post Brexit referendum sterling devaluation - call it 30% or £120,000 gross margin a year and they are about to get compensated for nearly two years loss of margin while saving all the direct and indirect overhead; they are also getting grants towards new products and a new monitor will given them a whole new revenue stream as they haven't been selling the 20 year old model for some time now dyor | schloo | |
23/9/2019 08:49 | Nobby - Yes they have done the right thing taking out costs - they had no choice! But annual Revenue has fallen to circa £4m and underlying cash burn is still nearly £0.5m/annum so they still have more to do. I can't see how they are going to increase Revenue having not managed to do it with a bloated sales force and lots of supporting evidence about the product. I hope they can turn things around but I just can't see how and if a buyer was interested I think they would have made a move before now imo | dj trading | |
23/9/2019 08:43 | >>schloo Just sent you an email.... | nobbygnome | |
23/9/2019 08:42 | Increasing gross margins from 68% to 76% partly by increasing US prices is a positive. | janatha | |
23/9/2019 08:41 | >> DJ You are talking semantics. Do you agree the business is now stable and has the chance to grow albeit slowly? | nobbygnome | |
23/9/2019 08:36 | "Nobbygnome23 >> DJ Getting rid of non profitable turnover and freeing up reps to be more productive is a good thing IMHO. You comments are disingenuous..." The contract was profitable even with the "fully-loaded expenses associated with selling and supporting this equipment" they say "not significantly profitable" Re "Your comments are disingenuous" perhaps, but yours are incorrect "non profitable turnover"! So a small reduction in profit but a much larger loss of GM and those costs will either have to generate more Revenue or be taken out to maintain profitability/cash flow and not much sign of an imminent increase in revenue to replace the loss of this contract imo | dj trading | |
23/9/2019 08:36 | DJ Trading You are forgetting that the reduction in debtors is mostly offset by a reduction in short term borrowings (an invoice discounting facility) of an average of £47k/month Key point is that DEMG does not need to raise more capital so price should correct. Note that Cheetah was still burning cash when bought at a value equivalent to at least 10 times current DEMG within the last fortnight | schloo | |
23/9/2019 08:27 | "Nobbygnome23 Sep '19 - 09:06 - 10382 of 10385 Cash flow positive not profitable! Cash is the most important aspect as that means we won’t have further fund raisings. What we want is a stable organically growing (albeit slowly) business....and now have IMHO." Agree cash most important as I have been saying for years! But cash gen of £20k/month in 1H mainly attributable to other movements in working capital as I said in my table above "beneficial move of other working cap items - stock/debtors and creditors of £61k/month" so an adjusted monthly burn of around £40k/month dyor | dj trading | |
23/9/2019 08:27 | DJ Trading, Nobbygnome Despite your different tones, I suspect you are both broadly right The $250,000 payment expected before year end seems like a very generous settlement designed to keep DEMG sweet. Any thoughts as to who is making this payment? | schloo |
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