Fireangel Safety Technol... Share Discussion Threads

[microscope] 29/5/2023 09:25

Don't think they have to announce until the end of June, as that would be six months after year end, but having stated 'by early May' it's entirely reasonable for shareholders to expect further comment imminently regarding the delay.

[billybunter1970] 26/5/2023 14:01

Did they mean results early May or early June?

[emperors tailor] 25/5/2023 15:41

Mmmm...I have been watching FA for over 20 years. You can rely 100% on 1. Issue more shares to raise cash 2. Pay the Directors handsomely. I guess some shareholders are so far in that pulling out will be more painful than staying in.And so it goes on.

These are low value consumer products with competition from all sides.

[epo001] 18/5/2023 11:01

You NEVER recover losses on that scale. Avoid the sunk cost fallacy. Even if the price comes back you are just back to where you started whereas others stocks have grown, so you're still behind.

Either leave the money where it is if you strongly believe there will be a recovery or cash in and put the money into a stock which has better growth or dividend prospects.

Not a holder but watching from the sidelines because there might have been a buying opportunity, that opportunity seems to be galloping into the distance leaving a cloud of dust behind it.

[microscope] 17/5/2023 17:03

Ouch, painful Billy. Suspect with that being the case, you pretty much know the chances of big news are a bit thin.But I'd love it to happen for you!Anyway they need to get their act together and produce the results, however kitchen sink they might prove to be. Cashflow likely to be their biggest challenge I suspect.

[billybunter1970] 17/5/2023 16:10

I'm an old timer, been in since >£2.85, pre dilution. Bought more at much lower share price hoping to recover loses....a crazy fool.

[microscope] 17/5/2023 12:33

Had to laugh at Billy's post. New to the stock?

The results are delayed because they're in the brown stuff imho.

As to just how deeply in it, we'll only know if/when results are finally released.

And they owe the market some comment for the results which were expected in April, then 'by early May'.

17th is not early any month. The suggestion that JC has gone as a condition to a fundraising has a credible ring to it.

[tiswas] 17/5/2023 11:08

LOL!

I agree with the JC comments. He came highly rated, I have a lot of time for him but he has taken us backwards. I would not be surprised if a change at the top was a condition of any fund raising, if needed. Either way we will know very soon.

[epo001] 17/5/2023 10:45

Wonderfully appropriate. Wasn't Billy Bunter always scanning the post pigeon holes ever hopeful for the arrival of a postal order?

[billybunter1970] 17/5/2023 09:29

JC has been at FA a few years now and not had any positive impact on shareholder value....so far. Hopefully they are delaying published results, pending some big positive news.

[tiswas] 16/5/2023 16:15

Yes, that was the first thing that I noticed.

Eerily quiet at the moment. I still maintain there is a good company trying to get out but it would not surprise me if yet another fund raise is being discussed, hence the delay in the accounts being published.

[harrogate] 12/5/2023 18:28

Don't you think the interesting thing about the RNS is that it doesn't have John Connelly on the bottom like every other RNS but only Zoe the CFO who also comments about the contract.

[yasx] 12/5/2023 18:13

Good contract win - but every bit of good news like that is followed by an excuse explaining why any revenue generated disappeared due to some external factor or whatever.

[yasx] 11/5/2023 17:25

FA seem to find every reason to explain unrelenting poor performance. Every update offers an excuse in mitigation with the promise of a remedy. The following update then offers a separate reason for failure.

Fa announcements are like a medicine. Every time you are given one, another side effect appears. Nothing is cured...eventually the patient dies.

[microscope] 10/5/2023 21:48

Delayed results expected in 'early May'.

So that really has to mean tomorrow or Friday. New (all time?) lows hit this week.

Not a good look, even if they do finally get them out this week.

[microscope] 25/4/2023 18:26

Posted this (below) after the September profit warning but still relevant as we'll see the impact of that warning in next week's results.

I'll be particularly interested with regards to my cashflow paragraph as, after today's RNS, the likelihood of cashflow and debt questions become likely ever more urgent.

'microscope27 Sep '22 - 13:25 - 758 of 799 Edit
0 2 0
When I read the last update I added this to my watchlist as there seemed to be real green shoots. But yet again external factors are biting them on the bum.

There's actually lots of underlying decent stuff going on which as others of you have said makes it all the more frustrating.

Debt lower than expected, revenues higher, expecting to be cash generative going forward, and strong product demand. Techem possibilities, revenues best since 2017.

But firstly PPV has hit hard, and now it's inflation and the currency mix going from bad to worse.

I couldn't possibly invest in the current climate, particularly with ebitda forecast to be well below expectations.

They've cash of 0.7 million, cash generative going forward, and 4.1 million of debt drawdown available. But whether that or a fundraising would be the better choice is debatable, particularly should cashflow become tight, as it well might.

Fingers crossed for them, and for holders, especially long term ones.'

You deserve a break!

[tiswas] 25/4/2023 14:09

I have to disagree Billy. Most of the insti investors came in at relatively low prices by way of rescue rights issues but have still seen steep declines.

With small cap funds having generally performed badly I would suggest most would have got bored waiting for the turnaround and snap up anything that gave them an exit and a quick boost to their funds nav.

Resideo also took up rights in the BRK and Newall days. Surely someone there must be asking why have we had this passive shareholding for so long and what are we going to do with it, sell or use it as the basis for a full bid. A far larger company than FA must have better access to supply lines and manufacturing processes?

Might be too soon after the First Alert acquisition but I would be evaluating it if I was them.

[billybunter1970] 25/4/2023 12:34

I think the problem with a takeover is back when the share price was £3.25 there were ~45m share in issue, giving a market cap of £135.5m. With the dilution of the past few years, shares in issue is now 181m, this would give a peak share price of £0.75.

I suspect most of the major shareholders would be reluctant to sell much lower than a 50% discount on what they could have had 5 or so years ago. I think they will hold out for an offer > £0.50 / share.

As soon as the measures introduced by the CEO kick in and the figures start to look positive, FA will sky rocket again. At the moment its all just words.

[tiswas] 25/4/2023 11:32

Surely Resideo must be looking at this if they have any sense.

They already own 42m out of 181m shares in issue, ignoring dilution from options.

So even with a decent bid premium and an offer of say 20p a share it would cost them just £28m plus any debt to buy a well known established market leading brand and benefit from stripping out costs, sorting the supply chain issues and benefitting from the Techem deal which must be worth close to £28m itself! Then there is the supposed patented technology and maximising that in the IOT markets.

I don’t know whether BRK and First Alert even have a European network but if not this is the solution.

I am not advocating the sale of the company, just suggesting it must be vulnerable at these levels. I would still prefer to see it turnaround but it is testing the patience of a saint!

[gnnmartin] 25/4/2023 11:22

redwing, :-) or should that be :-(

[jojaken] 25/4/2023 10:09

Shore Capital are confirming that they are delaying any updated forecasts until the final results are published, which is now "expected by early May".

[redwing1] 25/4/2023 09:51

Looks like the mnemonic for this share is trying to tell us something!

[jojaken] 25/4/2023 07:46

Equally, why do we only get a trading update instead of the full set of results?

If management are trying to manage expectations, this is not the way to do it!

Shore Capital should have been issuing an updated research note today. I guess that will also now be delayed until after the results.

I would guess that the delay in the contract has truly taken management by surprise, otherwise we wouldn't be where we are and information would have been better managed.

[bigbigdave] 25/4/2023 07:13

Oh dear.
The Board now expects the Group's EBITDA for FY2023 to be materially below market expectations.

[tiswas] 18/4/2023 09:03

Shore Capital

We expect to publish a note showing a scenario analysis of what the contribution of the now c.US$7.50 (previously c.€5) per NGSA from Techem could be worth to FireAngel in FY25F at the time of the final results, which are expected to be announced next week. We continue to see substantial potential upside in the share price longer term.