Fireangel Safety Technol... Share Discussion Threads

[tiswas] 21/3/2019 13:15

Hmmm, £12k worth of share sells shown and down another 12%.

[masurenguy] 16/3/2019 10:45

What dividend? They dropped the dividend at the half year.
"In view of the ongoing transition of the business, the Company will not be paying an interim dividend. The Board will keep the dividend policy under review with a desire to recommence dividend payments when it considers that it is prudent to do so."

[epo001] 15/3/2019 18:59

Is this just a gamble at this point? Presumably the 11% dividend will get cut, which won't help the share price Also is it a potential takeover target? £10M market cap will be small change to some people.

[wanttowin] 15/3/2019 16:28

Never thought these would sink so low, those in at the launch must be mortified.

[tiswas] 28/2/2019 16:19

I can get an online quote of 25.4p to buy 30,000 without any haggling with the price showing as 24-28 so assume plenty of stock still around.

[wanbissaka] 28/2/2019 16:09

I can confirm I do play right back for Crystal Palace but not at the moment as I have a hamstring injury. As for how full my glass is, it is clearly empty as alcohol is a strict no no for me as a professional athlete.
The only Wan :)

[tiswas] 28/2/2019 14:52

Yeah right GHF. You will be telling us you also don't play for Crystal Palace next!

[glasshalfull] 28/2/2019 14:33

WanBissaka - Thanks for posting.

Very similar to the investment case I’ve presented & reiterated during the last 12 months, both here & via Twitter. Pleased that I’m not alone in this thinking, although the value of my investment is currently well under water.

For the avoidance of doubt, I’ve received a couple of messages following the post above and can categorically confirm that I am not WanBissaka.

Kind regards,
GHF

[wanbissaka] 28/2/2019 12:50

I have been watching this for a while and have recently bought a modest stake. On the face of it the company is a basket case which has managed to create and subsequently destroy over 90% of share holder value in a decade. However as shareholders throw in the towel following yet another profit warning I think there are reasons to be optomistic:
1) the company completely underestimated the work involved and associated risks when they moved production to FLEX. However, the company have stated that the supply element is fixed, so no issues with the amount that can be produced, just the cost of producing it. FA.margins have been hammered. The company are well aware of this and should now be making traction - given that they have had 6 months or so to get to grips with the issues and work with FLEX on driving through automation and stripping out unnessary headcount. The benefits of this should be seen as this year progresses.
2) The 2 new Board appointments will be keen to turn things around. They have set a very low bar for 2019. When we move to the years ahead 2019 / 2020 figures will have very weak prior year comparables, so the headline growth that investors crave will be there.
3) product suite. They have spent millions on a market leading product suite. They now need to sell it. With Graham Whitworth now moving to concentrate on the bread and butter of sales, I am confident they have the right person to deliver the sales growth to exceed very modest targets. Todays announcement is the shape of things to come.
4) The home connected market does offer the opportunity to move away from the traditional box seller to a business model incorporating a recurring revenue stream. This will take time, and hopefully the cashflow from a reinvogarated "box selling" business will provide the cashflow to do this. It may need some additional working capital to achieve this, it may not. The instituational investors seem supportive of the business as do the bankers.
5)And if they don't the backstop is always a takeover. Their IP has to be worth more than 11 million.

This is a business that needs to focus on the core values of selling, execution, and close governance of the supply chain. Increase margins, increase sales (which legislation will drive to a large extent anyway) and you could have a business that could make a mockery of its current market cap. On the other hand it could be a business that makes a mockery of me. Time will tell.

[dangersimpson2] 28/2/2019 09:28

700k is 1.5% of the company, no way someone put a market order in and got filled by the MM! It is either a negotiated trade off market or the reporting of an overhang clearing.

Anyway today's announcement isn't significant in itself. It is probably in the region of 3500 homes x £200 revenue per home x 40% GM = £280k Gross Profit, less than 1p per share in one-off additional EPS, plus maybe a bit of recurring revenue. But what it does show is that it is business as usual there doesn't seem to be anything else untoward going on behind the scenes, given the recent market weakness then it was definitely a worry.

[pugugly] 28/2/2019 08:50

700,000 bought (apparently) at 27.5p Well over previous spread -

[glasshalfull] 26/2/2019 16:21

...and I’ve also my toes crossed too!

🤞🏻

Kind regards,
GHF

[tiswas] 26/2/2019 16:19

Thanks GHF, it did seem to be that someone took well below the bid to get rid of circa 43k shares and the mms moved the price down in sympathy.

Still have all fingers crossed!

[tiswas] 26/2/2019 15:38

Here we go again!

More bad news or a fundraising?

[wanttowin] 31/1/2019 11:50

Another fkn dog I wish I had never heard of. Just how could previous management be so inept.Obviously new management will need time but it is a seriously long haul from here, bitten the bullet and sold out here at a heavy loss..GLA all holders

[microscope] 31/1/2019 11:44

Really ugly statement. I said some time ago I could imagine a placing as low as 20p or so, and this only makes it seem more likely. Sorry for holders but there appears little light at the end of this particular tunnel for a fair while yet. They'll need more than a few contract wins, and a fixed supply chain, to get things back on track imho.

[masurenguy] 31/1/2019 09:35

Difficult scenario here. The prior management proved to be disaster prone on a number of occasions which took the whole business into the current dire condition. The new management have only recently taken up the reins and have done what many would do in the same scenario and taken write-downs and provisions to clear the decks. They probably will get options at the current base price but I don't have a problem with that if that provides a greater incentive for them to perform.

I will stick with this, but not average down any further, since probably most of the paper loss has already been incurred and the only real motivation is to see if the current potential capital losses can be recovered by new management exploiting their home connectivity systems.

[tiswas] 31/1/2019 09:05

Some brave souls buying but not me, I have enough.

I suppose management options will be based on these new lows, I have not seen any declared yet, and fingers crossed they buy a few on top out of their own pocket.

[shanklin] 31/1/2019 08:03

I would like to be invested here but management keep making this impossible. I really have no clue how this business can be so difficult to manage.

[pugugly] 31/1/2019 07:58

Now opened down 30% - Could not agree with you more - $64K question - any value left or a very dilutive fund raising needed to keep in the realm of the living dead -

[masurenguy] 31/1/2019 07:55

This is proving to be the worst investment that I have made in quite some time. Following this unexpected further profit warning, the shares have been marked down by 25% in the pre-market. Difficult to know whether to just sell, write the losses of and move on or hang-in and hope for a recovery since rather than book the losses now as I've probably incurred most of the downside already.

[shanklin] 31/1/2019 07:45

How can building a fire alarm be this difficult?

[tiswas] 31/1/2019 07:42

Even allowing for a bit of kitchen sinking that is a pretty bad update.