Fireangel Safety Technol... Share Discussion Threads

[the big fella] 22/7/2021 11:54

Yes they would have done as we didn't receive notification of a change in their percentage holding. I did take a look at the 2019 H1 numbers and we are up c 10% on those. Certainly nothing to get the bunting out for but it does demonstrate that the ship is turning, albeit a lot slower than we would like. Every company reporting will be making comparisons with last year so that is just how it is. When the German retail market opens up (yes most still closed) then we will naturally see another boost to sales.

[tiswas] 21/7/2021 18:51

BB Newell are the obvious candidates and can only assume they participated in the last fundraising yet again. They must have a good reason for doing that, one hopes!

[billybunter1970] 21/7/2021 18:07

Hi Tiswas, My sentiments entirely.....Thinking, hoping, praying for either of those outcomes. The worst outcome for me would be a management buy out - but I guess that would require Newell (and other institutional holders) to sell at this low price, which would mean them taking a large hit - hopefully that protects us from that scenario. Right, back to crossing my fingers and toes!

[tiswas] 21/7/2021 17:44

Hi Timetosell I see that you have posted just twice on advfn since joining in July 2018 and both are negative comments on this company. I am curious as to why that would be? Anyway, getting away from conspiracy mode I had one of my best days today with no fewer than 5 stocks rising circa 10% or more. Yet dear old fa., that recently issued an encouraging trading statement was down. Now, I know that liquidity plays an important part here, look at the way that it doubled on the German news. But I am beginning to think that it is setting itself up, or someone else is, for a cheap takeover just as it MAY have turned the corner. Anyone else thinking the same?

[timetosell] 21/7/2021 08:07

The Board is patting itself on the back for delivering sales materially ahead of the Covid-19 affected prior half year. Check out H1 2019 sales which shows sales are hardly growing at all. The cash and debt comparatives are AWOL to mask the cash burn. Provision releases are likely to be the helping hand behind the small increase in reported gross margin. Cash is still going backwards even post Covid-19. There is a mountain to climb to get this business to generate significant cash once again which can only mean one thing….

[yasx] 20/7/2021 23:54

On balance, the update can be described as a step in the right direction - nothing more than that at this stage, since execution remains uncertain given the track record. I continue to hold.

[masurenguy] 20/7/2021 07:41

Trading Update The Board of FireAngel is pleased with the progress made in H1 2021, with the Company reporting improved performance and sales growth in-line with the Board's expectations. Sales are expected to be materially ahead of the prior year period at approximately £22.3m (H1 2020: £16.5m) with a materially reduced operating loss* of approximately £1.3m (H1 2020: loss of £2.7m). The Board sees this as a strong recovery from last year with a return to a positive EBITDA* of £0.3m in the period (H1 2020: LBITDA £0.8m). While COVID-19 restrictions combined with ongoing challenges in global supply chains reduced the ability to exploit fully the growing demand for FireAngel's connected products, the Board is pleased to have remained on track. The Group has continued to deliver against its strategy to expand gross margins, which increased to approximately 24% in H1 2021 (H1 2020: 22.2%, H1 2019: 19%). This was driven by a higher sales mix of the Company's connected products and planned operational improvements which attract wider margins. At 30 June 2021, following the Company's successful equity fundraising announced on 30 April 2021, the Group had £5.8m of cash and £3.6m of debt (excluding IFRS16 lease liabilities).

[s works] 19/7/2021 17:27

I think the battery on this company is now well and truly flat. I agree with the Dinner lady comment

[billybunter1970] 09/7/2021 10:03

I'm a long term believer, but starting to feel like a flat earther! I guess they have to keep the people that matter motivated. Strange that its a technology company, but no incentives for the tech team personnel to deliver...very strange.

[yasx] 09/7/2021 08:56

Ridiculous that these chaps getting any sort of award. Shareholders could appoint a dinner lady to deliver a better performance.

[tiswas] 09/7/2021 08:15

Speaking as a believer in the company's long term prospects that is a pretty generous/obscene options package for JC. The key shareholders must have thought that he was/is something special when they approved that! Perhaps they thought he was the other JC!

[masurenguy] 29/6/2021 07:27

On 28 June 2021, Zoe Fox, Chief Financial Officer, purchased 21,000 shares at 18.5p per share.

[timetosell] 26/6/2021 14:04

Companies that consume cash endlessly ultimately go bust. After four fund raisings in 7 years and squandering £30m of shareholder cash to stay afloat, this company is a zombie stock.

[microscope] 23/6/2021 16:27

Presumably the reconvening of the meeting will enable another vote?If so. all remarkably convenient!

[gnnmartin] 23/6/2021 13:45

It is the usual request for permission to issue shares for cash without offering then to shareholders. It appears to be more complicated than usual, but I can't quite figure out why or how, so I am not sorry it was voted down.

[billybunter1970] 18/6/2021 17:16

Any idea what resolutions 9 - 11 mean in plain English?

[gnnmartin] 18/6/2021 16:49

Humph. The AGM was inquorate and will be held again on 30 June. That was a pretty poor do!

[masurenguy] 17/6/2021 14:06

Ok thanks - here is a direct link. https://www.fireangeltech.com/wp-content/uploads/2021/05/FireAngel-2021-Notice-of-AGM.pdf

[harrogate] 17/6/2021 13:50

It tells you on that pdf

[masurenguy] 17/6/2021 13:29

We know that BrileyLoucan - what we don't know is what were items 9 to 11 !

[brileyloucan] 17/6/2021 10:22

hxxps://www.fireangeltech.com/wp-content/uploads/2021/05/FireAngel-2021-Notice-of-AGM.pdf Items 9 to 11 were not passed

[billybunter1970] 17/6/2021 09:59

I cannot find the AGM resolutions anywhere - maybe only 2 directors were privy to them.

[tiswas] 16/6/2021 13:56

I am travelling today so struggling to find what the special resolutions were that weren't passed?