Fireangel Safety Technol... Share Discussion Threads

[microscope] 28/5/2020 07:37

I'd probably have bought too if it meant I could get options at 2p.

Lol.

[onehanded] 28/5/2020 07:25

Think contract confirmation news must be coming in the next few months. Going to really move this share.

[wanttowin] 27/5/2020 17:52

Directors buying instills a nice bit of confidence

[masurenguy] 27/5/2020 08:27

Update: 27 May

Clear attempts to restart the construction sector, reinforce the expectation of a reasonably quick rebound in demand for FireAngel's unique cost-effective connected solutions. It is pleasing that demand, whilst reduced, has continued to recover in our international markets and the emphasis in many UK-customer conversations has moved to preparing to return to normal behaviour after lockdown restrictions have been lifted further........As announced on 8 April 2020, the Company raised a total of £6.1m (before expenses) through an open offer and placing and consequently issued 50,623,480 new ordinary shares at 12p per share.

[onehanded] 07/5/2020 09:16

I see the next big leg up mid May as the lockdown measures are relaxed and the news of the start of the roll out. Not fully factored in yet. Fully funded now and could test the 40p mark by the end of the year. Already a few started to load up and expect more in the coming weeks / month. It's been a long time coming but can really see the light at the end of the dark tunnel.

[tiswas] 30/4/2020 09:45

Yep, as good as can be expected under the circumstances.

[the big fella] 30/4/2020 09:27

There is some good news hidden in there: “On 23 March 2020, the Company announced that it was close to signing a contract with a local authority for a large connected rollout using FireAngel Pro Connect and FireAngel Predict(TM) . While commercial discussions have now been concluded and training for installers is planned in May 2020, subject to lockdown restrictions, with product rollout planned at the start of June 2020“

In normal circumstances an announcement of a significant new contract for their pioneering product would see a positive re-rate but I guess these are not normal circumstances.

[masurenguy] 30/4/2020 07:43

Business update: Q1 trading and the impact of COVID-19
30 April

The Company's performance in the first quarter of 2020 was close to the Board's expectations, with revenue and gross profit slightly below budget. Gross profit margin remains ahead of Q1 2019 and in line with budget. However, an opportunity to outperform was lost in part due to the impact of COVID-19 as March progressed.

Impact of COVID-19

COVID-19 will clearly have an impact on the Company outlook in the very short term, although the medium and long-term prospects are underpinned by the market need matching our compelling and unique products. This offers the possibility of a quick rebound, and the Board has taken certain mitigating actions, further details of which are set out below, which aim to balance the clear uncertainty with maintaining capability while conserving the Group's cash and protecting its profit.

The Board expects the most significant effects of COVID-19 on revenue and profitability to be in Q2 2020. A reasonable, albeit much reduced, level of revenue is expected to be maintained due to regulatory requirement drivers, the ongoing market need to maintain overall safety, and the different stages which each of our markets will enter as restrictions are lifted. The first half of the year typically accounts for just over 40% of the Company's annual revenue. This year, for reasons previously announced, the Company's second half revenue is expected to be at a higher margin than the first half and, therefore, the timing of the COVID-19 pandemic is expected to have a more limited impact on the Company's performance than might have been the case later in the year.

The Company continues to receive orders, develop products, work with Fire & Rescue Services across the UK and other customers, and improve its gross margin potential. FireAngel alarms are safety-critical items and remain on sale where traditional retailers which sell them remain open for business. Online sales have proved to be particularly resilient with sales impacted much less than through bricks and mortar retailers. International sales have continued to perform close to budgeted levels.

Update on connected trials

As previously announced, trials of FireAngel's connected home products, including FireAngel Predict(TM) , have been ongoing and have been well received. On 23 March 2020, the Company announced that it was close to signing a contract with a local authority for a large connected rollout using FireAngel Pro Connect and FireAngel Predict(TM) . While commercial discussions have now been concluded and training for installers is planned in May 2020, subject to lockdown restrictions, with product rollout planned at the start of June 2020, the inevitable disruption caused by the COVID-19 lockdown measures has delayed contractual sign off. Further trials have been completed with two other significant connected opportunities which have now entered commercial discussions, albeit, for obvious reasons, at a slower pace. Some further opportunities have in the past few weeks in fact become firmer despite the impact of COVID-19. Further updates will be announced as appropriate.

John Conoley, Executive Chairman of FireAngel, said : "I believe that FireAngel is much better positioned to weather the COVID-19 storm than so many other companies. We recently completed a fundraising of a net £5.5m at an ideal time, for reasons that remain unchanged. Our market fundamentals are intact, and indeed future opportunities have crept forward even during the lockdown. Management reaction is a proportionate one therefore, in terms of cost cutting and cash conservation, whilst retaining capability for a fast rebound in revenue. The Company is capable of executing such a rebound, once conditions begin to improve. FireAngel remains very much open for business."

[owenski] 23/3/2020 07:13

Jeez, this really is a basket case.

[onehanded] 06/2/2020 08:07

yes has massive potential, can get to 25p very quickly so great return. Depends on some big contracts to take on the 50p mark. Will be watching and adding on any weakness. Delayed buys from yesterday expected happens a lot lol.

[the big fella] 05/2/2020 16:06

I have a similar view.

[tiswas] 05/2/2020 15:28

I would assume the same TBF but what would they be prepared to pay and what would we be prepared to accept?

Personally I would not accept less than 50p because I think that the long term share price can go an awful lot higher but against that there is still significant execution risk.

What I am saying is a 50 or 100% premium would not interest me and on balance I would rather take the risk and see it through.

[the big fella] 05/2/2020 14:59

BRK. I thought when they maintained their stake in the rights issue it could only mean they are still interested in a TKO. I would say if it were to happen then now would be the perfect time (for them anyway).

[tiswas] 05/2/2020 13:34

I am probably a glutton for punishment but I am cautiously optimistic here. JC spending more time on the business has to be not only a sign of commitment but also confidence?

Some chunky directors buys would confirm it but we also have the wild card of the US shareholding, I forget what they are calling themselves this week!

[deanowls] 05/2/2020 11:54

Probably warning mate. But I’m a bit cynical after being here so long.

[sbb1x] 05/2/2020 11:52

Mkt cap 11mWhat is profit expected to be in coming years...

[the big fella] 05/2/2020 11:14

And at some point English legislation in this respect, post Grenfell, will surely follow.

[lomcovaks] 05/2/2020 10:31

Don't forget the Scottish legislation coming by February 2021 mandating linked smoke/heat/CO alarms in all houses.
The standard requires:

One smoke alarm installed in the room most frequently used for general daytime living purposes
One smoke alarm in every circulation space on each storey, such as hallways and landings
One heat alarm installed in every kitchen
All alarms should be ceiling mounted and interlinked. There is also a requirement for carbon monoxide detectors to be fitted where there is a carbon-fuelled appliance (such as boilers, fires (including open fires), heaters and stoves) or a flue.
hxxps://www.gov.scot/publications/fire-and-smoke-alarms-in-scottish-homes/

[onehanded] 05/2/2020 08:09

yes, good news and expect some big contracts round the corner. Could really build from here. Wait and see, share price looks cheap, 25p the medium term target. In USA and Australia could well be very large and profitable.

[masurenguy] 05/2/2020 08:05

5 February 2020
Some interesting developments !

FireAngel announces that FireAngel Predict(TM) , the Group's predictive algorithm management information platform, has been granted a patent by the European Patent Office. This follows the successful grant of a patent awarded in both the USA and Australia. This patent award gives FireAngel the exclusive right to exploit this technology in Europe. The patent protects the key operating system required to deliver the functionality behind FireAngel Predict(TM) , the Company's AI data analytics technology, which has the potential to avert domestic fires before they start by automatically analysing large amounts of historical data in the Cloud. FireAngel Predict(TM) pinpoints properties where there is a higher risk of a fire which provides stakeholders within the housing sector a unique insight into the safety of the occupants and their property portfolio. This is delivered seamlessly through online notifications, thereby protecting lives and homes and providing a compelling proposition to help fulfil the stakeholders' duty of care.

Furthermore John Conoley is now taking a more hands-on role by assuming direct line management responsibility for sales and customer service. This will hopefully create some greater momentum going forward. Year end results are now due to be released by the end of next month.

[onehanded] 03/2/2020 15:27

yes results ok and full turn around this year. All we need is a few contracts and this will fly. Can't see any cash call needed as 'charge is non-cash in nature' as from above. Would be a buyer or definite hold and wait to see.

[tiswas] 03/2/2020 09:54

At least there is some light at the end of the tunnel, and the Yanks still have their 23%. (Why take up the rights?)

The question is can they complete the turnaround without the need to raise more cash?

[masurenguy] 03/2/2020 07:12

Looks like some 'kitchen sinking' here. Whether new technology connected products become a catalyst for future redemption remains to be seen !

Sales for the Year are expected to be up 20 per cent. at approximately £45.5m (2018: £37.6m) and the underlying operating loss(1) , before the impact of the change to straight line amortisation, previously described in the Company's interim results announcement released on 24 September 2019 (the 'Interim Results Announcement'), is expected to be approximately £2.9m (2018: underlying operating loss of £2.0m), in line with market expectations.

Expected underlying operating loss for the Year, before the impact of the change to straight line amortisation of approximately £2.9m, is before exceptional charges of approximately £5.3m (further details of which are set out below) and a share-based payments charge of £37,000 (2018: underlying operating loss of £2.0m is stated before exceptional charges of £3.7m and a share-based payments charge of £0.1m). As described in the Interim Results Announcement, exceptional charges have been incurred during the Year in increasing the legacy battery warranty provision for increased product replacement costs, and for restructuring and fundraising costs. As expected, these amounted to £1.4m and 0.7m respectively for the Year. The Board now expects to make a further exceptional charge of approximately £3.2m in the Year. This charge is non-cash in nature and relates to stock provisions and the impairment of intangible development costs as a result of a thorough review of product lines and future development plans in line with the Group's evolved strategy to become a more technology-led connected home solutions provider.

John Conoley, Executive Chairman of FireAngel, commented: "FireAngel's results continue to be negatively impacted by legacy issues as a result of certain historically poor internal processes. However, the strategic decision to invest heavily in future technology is proving to be correct. The fruits of the investment made in connected technology are now beginning to come through in successful real-world trials, the financial benefits of which are expected to be realised in the short, medium and long term. We look forward to providing further updates at the time of our full year results."