Financial Objects Share Discussion Threads

[hugepants] 15/12/2003 14:21

mollymolly, Try and get your figures right before talking nonsense. The market cap is under 7M (the ADVFN figure is wrong). And 5p would be ludicrously cheap.

[mollymolly] 15/12/2003 13:23

Not disgruntled, but know Roger Foster.


£9m is ludicrous for a company that is very unlikely to make a profit.

[fairdinkum] 15/12/2003 13:09

mollymolly, thanks for the warning and you really seem to have it in for FIO and I am not sure why. If you think they are so useless and worth 5p why don't you short them and put your money where your mouth is?

FIO have made no secret of their problems with Activebank, but '....the IBIS Division, which represents over 50% of Group revenues, continues to
improve and is trading profitably. The Group's cash position remains strong, with balances of #7.1m at 31 October 2003....' so it is not all bad news.

This company now has a cap of around £9m at current share values and your 5p share value simply makes no sense. Are you a disgruntled ex employee or something?

[mollymolly] 15/12/2003 12:46

Fardinkum -- don't buy shares because the company has cash. It's the future that drives share prices not cash holding.

Losing customers is the worst thing for a software business and unless there are some very exceptional circumstances this is the end for FIO.

Quite simply if FIO can't deliver the goods & keep the customers happy they are lost. They operate in a very small world where everyone knows each other so the word will be around.

The (possible) upturn in spending next is most unlikely to help FIO.

Brokers say SELL.

Look at track record of Roger Foster.

I have not/do not intend to trade FIO shares – just a warning.

[fairdinkum] 15/12/2003 11:20

Molly molly continues to deramp the shares but unlike many companies this one actually has a lot of cash in the bank.

[mollymolly] 15/12/2003 10:47

It is VERY VERY serious for a software company to have its system rejected.

THIS IS MATERIAL.

For success it is vital that future customers can be confident that their needs will be met.

The cash is not worth that much in a emergency sell out. FIO not likely to win new business. Maybe an aquisition is possible, but only to someone equally desparate.

5p is a high price in my opinion.

[fairdinkum] 15/12/2003 10:15

Bad luck, Nilip. Know how you feel. But I would rather they told us bad news than tried to cover it up. These shares have been marked down heavily, maybe to heavily, and personally I shall wait until we know a little more.

[dell314] 15/12/2003 08:11

I'm intrigued by this:

“The Directors do not at this stage anticipate that their withdrawal from this contract will have a material financial impact on the Company's results.”

Why issue the RNS, if they don't foresee any material impact??

Anyone know why??

Rgds
dell(confused by RNS but no position in FIO)

[mollymolly] 12/12/2003 17:35

"The Directors do not at this stage anticipate that their withdrawal from this contract will have a material financial impact on the Company's results."

I expect that this will have a VERY material impact on any future business.

Most likely no Future at all.

We will have to see the quality of Roger Foster's antics to find a buyer.

The only possible saviour is the cash. My bet is that is squandered in the same inept way that the business had been managed.

IMHO STRONG SELL

[hdenandy] 12/12/2003 17:14

Oh dear, bad news out after the bell. Back down we go Monday I'm afraid

[nilip] 12/12/2003 17:13

This was released as an RNS after trading on Friday 12th.

Financial Objects PLC
12 December 2003


Financial Objects plc

The Board of Financial Objects announces that it has today received a
notification from one of its Activebank customers that it no longer wishes to
continue with its contractual arrangements with the Company. The Directors do
not at this stage anticipate that their withdrawal from this contract will have
a material financial impact on the Company's results.

___________________________

Apologies to all holders but I have to say that this company has let us down in a big way - I realised a loss of £11k when I decided to cut my losses and sell last week.

I had high expectations for FIO only to find that the company is falling apart due to completely incompetent management.

Good luck to all holders.

Nilip
(disgraced)

[nilip] 02/12/2003 13:46

Oh well, sod it - just sold the last lot of my holding.

I had been waiting for FIO to show signs of a recovery but the last statement I think was the last straw for me ... decided to release my funds from this one and invested elsewhere, namely GBG, which looks like an excellent growth stock.

[mollymolly] 01/12/2003 16:50

nope no dealing for me.

35p??? I doubt it. Failed products will surely never be trusted again. Only reason that this co is still in business is the cash.

The cash is being squandered at a fast rate.

Even in an upturn no one will buy from Fin Obj.

If it gets to 35p I would sell if I were you.

[fairdinkum] 01/12/2003 12:26

mollymolly, I can smell your fingers burning. Hope you are not shorting these. My guess is they will hit 35p before long.

[mollymolly] 25/11/2003 10:11

Cash is easy wasted

[welsheagle] 24/11/2003 20:30

Cash per share is 29p, so trading at less than cash now.

[mollymolly] 24/11/2003 16:05

hvs Roger Foster certainly is. Not a builder of companies by organic growth just a wheeler dealer.

Look what happened to ACT

Strong SELL

[hvs] 21/11/2003 19:15

hvs - 9 Jul'03 - 21:22 - 296 of 328 edit


The Board seems to be a bunch of plonkers

Can it get any worse , I think so.

[fairdinkum] 21/11/2003 15:35

Gottem cheap in the case of Carruthers - 10p options? But I doubt Hayman is so well pleased - he paid 42.63p. But would they have known of the cost overruns if the review has only just been completed?
I think the press release is to take the pressure off the shares when the annual report and accounts is released which is why I have picked up a few.

[nilip] 21/11/2003 15:35

Reckon this is a good averaging/buying opportunity ?

was 24-25, the offer price has pipped up to 27p now ie. now 24-27

There's just one on the offer at 27p and 4 others at 29p - gives the impression this may pip up.

Level 2 showing just wins offering 27p the rest are 29p

[diamondal] 21/11/2003 15:22

Why did two directors purchase shares recently? They must have been aware of the financial position.

[fairdinkum] 21/11/2003 15:13

I agree infinity, but they still have a lot of cash in the bank, and I have picked up a few more.

[infinity] 21/11/2003 14:57

Cancellation of the dividend is bad news too, one to keep an eye on now though

[fairdinkum] 21/11/2003 14:55

Cripes! And now they've released a disatrous trading statement! Looks like loafofbread got it more right than he realised.....
Not looking good at all.