Fd Technologies Public Share Discussion Threads

[badger36] 27/11/2018 20:02

It's oversold because nobody is buying. Sector not great but FD has beaten the sector downwards

[nsss] 27/11/2018 18:46

53% down from ATH, and showed no sign to recover in the last 3 weeks. Touched twice 2240, now 52w low. Way oversold. Is anyone expecting a lower dip?

[ds8095] 26/11/2018 10:07

What have I not thought through properly?

[glavey] 23/11/2018 01:35

Given it suits your argument, you may have chosen not to think that through properly. But are you right to assume that no-one else has?


(It's not for the first time either, as in this hyperbolic example:

"I don't mean to be pointed, but here's the thing... and by the way, I'm being careful with my language here... It's primarily a services company with a forward multiple of 36x earnings based solely on AIM market IB research!")

[ds8095] 22/11/2018 08:28

A company's customers care only about whether it can deliver the product/service, not whether its management team are being fully honest and open in their representations to investors. Furthermore, procurement managers and IT professionals, as skilled as they may well be in their own fields, are generally not qualified to assess the legitimacy of a company's accounts, or the quality of its governance.

[glavey] 20/11/2018 05:53

For around 20 years FDP have been working with some fairly well known clients. One might think that such clients would take into consideration 'questions about the trustworthiness of the management team'.

But then, as you mentioned earier, you are short FDP.

[ds8095] 19/11/2018 09:20

They are not a distraction - they are directly relevant to the investment case because they raise questions about the trustworthiness of the management team.

[flybyknight] 16/11/2018 18:32

It absurd to say this company has major cash flow issues

Big problem for I is the revenue and profit per head

It just don't fit a software place

The other comments are just distraction on share profits etc

FCA will take no notice of accounting letter sent imho

mog I hope it go to 13gbp. It would be too low and then a complete buy
I agree with moorsie at that point even

[mog] 15/11/2018 07:31

Glavey, perhaps I worded it a little strongly, but if they didn't have that cash from share issues they would have to borrow more

[glavey] 15/11/2018 01:26

Mog,
And that's correct per 'cashflow', but it fits less well with "...they're being kept afloat by share issues...". One can't blame the company if employees etc. choose to exercise options given as incentives.

Badger,
Then perhaps chill a little. :-)

[swiss paul] 14/11/2018 20:17

Ex divi tomorrow

[mog] 14/11/2018 11:13

Glavey, Well in the cashflow statement they say "Proceeds from issue of share capital" but whether it's from employees exercising options or the company selling shares to institutions it's still cash that they're using.
flybynight, :) , and hopefully 15 is a bit pessimistic, although still a pe of about 20. Overall I do believe Conlon has a clever strategy of buying Kx combined with the Market Resource Partners people to market the Kx technology to all the big data markets, so a pe of 20 would be low for me. It's a huge opportunity.

[badger36] 14/11/2018 08:53

Have a large position bought at 29 and 38

[glavey] 14/11/2018 05:43

Mog,
That's shown as "Exercise or issue of shares". Not quite what you contend.

Badger,
If you have a position here, you appear to be panicking. If you don't, you appear to be baiting those who might have. Which is it?

[flybyknight] 13/11/2018 21:59

Mog please some were else go to have open discussion

This discussion board like uk brexit
Most vocal people don't like facts and real observations

Sp looking like it will go to 15 gbp imho and then make string comeback
Director share buy and announcement on horizon think

[badger36] 13/11/2018 16:44

Moorsie. Your evaluation is worth what? Since you suggest it's bull about fraud Mr Market has called it out and the silence from Conlon et al suggests something stinks and itv surely does looking at the share price collapse

[mog] 13/11/2018 15:45

Glavey, it was from Cash flows from financing activities:
Proceeds from issue of share capital 2,567
Drawdown of new facility 8,900
Repayment of borrowings (1,766)
These give net receipts of 9.7m. Operating cash was 9.8m for a total of 19.5m, and they spent pretty much all of it (except £734k). A lot went on investing activities (subsidiaries (deferred payments, loans, intangibles) and equipment) which hopefully will deliver results in the future, but 4.3m went on last year's final dividend. Now presumably they are managing their debt drawdown just about to cover their cash requirements, but spending 4.3m of this on dividends makes me a bit uncomfortable.
On the other hand I don't get any sense of wrongdoing in these accounts, but any accounts can be fraudulent, so who knows?
Just to be clear I'm a shareholder from 2005/2006, and like to have an open discussion. The drop in price is painful to see but at these elevated pe ratios the correct price is just a subjective view "in the short term the market is a voting machine, in the long term it's a weighing machine"

[moorsie2] 13/11/2018 14:07

welcome Badger another new member in the last 8 weeks who posts on no other company and posts nothing of rigour on this one - troll

[badger36] 13/11/2018 12:06

So for all the hoopla about the ability to execute and be leaders in the field the only remaining support is the hope of a takeover. My word it sure is a sorry state that results are tainted with the implications of being as a result of cooking rather than creating or is that creative accounting. Too much damage done to the reputation and the silence is deafening. It's finished and the pie in the sky ambitions are just stuff of Alice in Wonderland

[painter] 13/11/2018 11:12

Down into takeover land price wise as now they own 100% of Kdb+ could be interest over the rest of 2018.

[glavey] 13/11/2018 05:42

...they're being kept afloat by share issues and debt...

To what share issues do you refer?

[rhambo] 12/11/2018 23:14

But the price IS collapsing, it's down 40% and falling...

[mog] 12/11/2018 20:04

I think if the market did really think that or there was some foundation to those sort of thoughts the price would have collapsed much much further. I wouldn't be surprised if it's the cashflow that some people don't like, they're being kept afloat by share issues and debt, some of which effectively pays the dividend. I think they should chop the dividend, but Brian Conlon wouldn't be happy as that gives him a few million a year. I'm not completely comfortable with the cash but I'm giving them the benefit of the doubt and hoping that Kx does prove itself.

[mog] 12/11/2018 10:16

The share price drop is obviously because of more sellers (incl shorts) than buyers, but the actual share price doesn't to my mind indicate a company with major issues, at £28 it's still on pe about 35 and price to sales 3.5, that's not a company with problems. I think the valuation had simply become too rich at say £45 for a company growing revenue at about 20%.