Elektron Technology Share Discussion Threads

[2dominate] 02/6/2016 19:09

Good point well made :)

[blackss] 02/6/2016 14:27

Yes i appreciate that it will not affect this year's accounts but might be used to sweeten the blow i was thinking. Its quite likely that missing the dates AGAIN is because of cash shortage but its also more than likely just poor/amatuer management going on past form. I wouldn't read too much into it. Remember all the major shareholders are more than happy, Daley continues to sip champagne and jet round the world and there is plenty more to sell off to keep it all afloat.

[2dominate] 02/6/2016 14:12

BSS - The sales won't appear in the accounts unless it was sold before 31/1 it could be added to the presentation for the city if they are doing one or in the statement to offset bad results but the most likely reason is they needed the cash to show the auditors they have enough for the next year, only real reason to delay the accounts unless there is something to hide. Either way might be time to sell this and give up on getting any of my investment back. I had hoped Pat knew something we didn't but not so sure now.

[chumps180] 02/6/2016 14:07

Looks like financial calendar has now been updated. Prelim results 'June'and
AGM 28th July

[blackss] 02/6/2016 08:34

The initial drop from 6p about 8 weeks ago was on no volume and the rise back has been the same. Just the MM's trying to make a market in a totally illiquid stock i think.
They will need to get the results out by the end of next week then Yoyoy or delay the AGM ?

[yoyoy] 02/6/2016 08:02

odd then that there has been a good rise in the share price, albeit from a low price

"Announcement of preliminary results April/May 2016
AGM 30 June 2016"


above is from EKT website



21 days notice required for AGM I think

[blackss] 01/6/2016 18:51

Well it wouldn't be the first time they have had to raise money just to get the accounts signed off. I doubt its that though. More likely an appalling set of figures and they need to factor in the £2.3m to make them look acceptable. a sort of good news on the end of a list of disasters.

[jugger123] 01/6/2016 18:38

2d there are very few unprofitable operations until you factor in head office costs, and the research in the nirvana project

[2dominate] 01/6/2016 18:21

Hmmm accounts are late and they sell a profitable company, sounds to me like they had to to get through the going concern question from their auditor, must be only real reason is they were desperate. I am a holder, only small but I don't like what I am seeing here, starting to look like a fire sale. Is there anything else to sell?

[jugger123] 31/5/2016 17:55

Has company changed year end without us noticing?

[my retirement fund] 27/5/2016 21:39

I expect Mr Bridge has been offered a gagging agreement in return for some sort of reduction in costs that he now owes the company.

[blackss] 26/5/2016 12:21

what does this mean

Elektron has agreed to provide support to Agar Scientific Limited via a back to back sublease of its existing facility. Rent payable is GBP56,000 per annum and the head lease expires in 2024.

Have they sold the business but not the lease ?

[yoyoy] 26/5/2016 11:41

thanks Sticky. I assume that is "hold" and not "held"

[blackss] 25/5/2016 13:53

Thanks SF2
I suppose the question will be why are they selling the family silver for working capital of £2.3m when they were making £6m/year profit a few years back? but then it should be the major shareholders asking this not me .

[sticky fingers2] 25/5/2016 13:36

Agar held the lease on the property they are currently in, not Perloff. Also, a few years ago, revenues were around £5m.

[jugger123] 24/5/2016 18:10

Checkit sales confused

[blackss] 24/5/2016 17:32

I have now thanks, very interesting. Let's see how they translate into sales.

[yoyoy] 24/5/2016 17:14

No apologies needed.

BTW have you seen the companies "featuring" on the Checkit site.

[blackss] 24/5/2016 16:44

Yes apologies yoyo, I got Kinder and perloff muddled up.

[yoyoy] 24/5/2016 15:35

Perloff/Panther own the lease I suspect.

[graham1ty] 24/5/2016 11:41

BlackSS "pretty poor". What do you mean ? They will have a full year of Checkit sales to report. They are adding up the invoices as we speak.

[blackss] 24/5/2016 09:27

I would imagine the results are pretty poor again and they wanted to get this Agar thing done and dusted, it's been dragging on for ages behind the scenes.
However bad the results they will look a little better if you add £2.3m to them after the event. That's nearly enough to keep KD and JW in wages for another 4 years.

[graham1ty] 24/5/2016 09:14

Why are EKT results now four weeks late ? Last year on 30 April ? It is coming up to four months after the year end.......

[castleford tiger] 24/5/2016 08:42

Cannot disagree with anything said...........

A total shambles.
tiger

[blackss] 23/5/2016 09:03

Graham
Presumably Kinder owns the lease on Agars property so he will be happy but what the others get out of it is anyone's guess ? presumably another year i supose. The problem is that all this money is disapearing to pay off debt that they clocked up in the first place and into working capital which we know to be Checkit. Checkit in its current incarnation must be 3-4 years old now and we have yet to be informed of a single customer ? we all know checkit is in a market occupied by professionals who by now, if they had seen Checkit had anything new to offer, would have added that to their established brands.
Bottom line is with no experience in a well contested sector they will be relying on reputation to sell checkit and what sort of reputation does EKT have in the market ?