Image Scan Share Discussion Threads

[jmf69] 16/7/2013 09:14

Just picked up 100k this morning...hope we can keep this momentum going

[philjeans] 15/7/2013 19:17

Good spot Assagai - RNS to come?

I hope so - it costs every time but we need all the positive PR we can get!

[assagai] 15/7/2013 18:16

This is interesting see news date 15/7

[assagai] 13/7/2013 11:21

I remember a poster called "bidwell" from years ago always the same sort of agenda , would suddenly appear on a thread full of negativity and scare mongering. Buywell, Bidwell - go figure.

Just for the record IGE has not had 2-3 million in cash for years, difference is now the company is actually making regular sales.

[puffintickler] 13/7/2013 08:57

indeed daniel, stick it on filter like the rest of us.

[daniel] 12/7/2013 23:20

buywell, your posts on every bb are always negative. I think you may have an Anxiety Disorder and need to seek medical advice imho.~ Encarter

[waggle] 11/7/2013 14:24

will have a look in the petty cash tin....

[buywell2] 11/7/2013 14:08

Dead man walking without £2m min

Existing shareholders will get zilch

Put the company up for sale or delist

[monty68] 11/7/2013 12:35

Assagai

Hear Hear

[assagai] 11/7/2013 12:21

To see the shareprice back at 1.25 bid is fundmantally disappointing to say the least. This despite engaging new PR consultants etc and while there was a bit of a flash in the pan of positive PR the momentum seems once again to have declined.

To Buywell, the concept of raising £3m in cash is a pipe dream but I suspect you know that already. In my view the company could not raise cash through the markets and any attempt so to do would be met with fierce resistance by larger shareholders especially at these levels.

They might need a little interim cash and I mean a little just to see them through and I strongly suspect that would come from other sources (not equity) IF required. The Board seem very conservative in their forecasts and any statement is always overridden with prudence and caution but reading ( not even between the lines) it is clear they expect to be viable going forward but a) the significant reduction in overhead and b) concentrating on smaller ticket regular sales of non bespoke kit. The last big bespoke project was not entirely successful and latterly incurred losses to complete. This is NOT where the company is pointing going forward. Their current business model requires a very modest t/o to break even and even reaching a regular 3 to 4 million would see a reasonable net profit with plenty of tax losses to cushion outflows.

Personally I have been investing in this company for over 8 years and while it is nice to be able to continue ticking over and paying the wages I would now like to see clear evidence of shareprice and shareholder support.

[buywell2] 11/7/2013 11:39

Gross margin at 38% is not very good re stocks I invest in, other margins low also

They turned things around circa £350k
'Year on year Image Scan Holdings PLC grew revenues 97.91% from 2.17m to 4.30m while net income improved from a loss of 237.18k to a gain of 107.99k.'


but spent £870k doing it

'In 2012, cash reserves at Image Scan Holdings PLC fell by 871.42k. Cash Flow from Financing was even, which indicates that this company's capital needs are balanced. In addition the company used 843.18k for operations while cash used for investing totalled 28.24k'

www.markets.ft.com/research/Markets/Tearsheets/Financials?s=IGE:LSE

IGE need at least £2m to £3m to improve products and maintain traction and to give themselves a buffer £3m would be my bet


They only had 70k cash left when FT data above was issued



20th june they had just over £100k but overheads have risen £62k and exceptionals come in at £137k meaning a LOSS of £390k V a PROFIT of £6k

A thumping big turnaround of £396k in 6 months


Financial summary:

-- Revenue of GBP1,072,000 (2012: GBP1,760,000)
-- Gross profit margin of 42% (2012: 37%)
-- Normal overheads of GBP715,000 (2012: GBP653,000)
-- Exceptional costs of GBP137,000 (2012: GBPnil)
-- Loss after taxation of GBP390,000 (2012: Profit GBP6,000)
-- Period end bank balance of GBP138,000 (2012: GBP122,000)



Directors have not been buyers of their own shares for 3 years


www.markets.ft.com/research/Markets/Tearsheets/Directors-and-dealings?s=IGE:LSE


Perhaps they will now stump up some cash at 1p a share

[gnnmartin] 11/7/2013 11:31

As Brian Emslie said in the interim statement "the loss reported in the interim results is particularly disappointing". If the company can make it through to a regular profit, then the shares are an absolute bargain. If they can't, then they are probably worthless. The share price is unconnected with the value of the company because the value of the company is so much a matter of guesswork. It takes very few trades to move the shares either way. I'm just sticking these in the proverbial drawer and hoping. If the shares sink and I feel rich I might pick up a few more at sub 1p. I hope they make it through, and not just because I own 750k shares!
Nigel Martin

[buywell2] 11/7/2013 11:23

IGE must be running on empty

www.markets.ft.com/research//Markets/Tearsheets/Financials?s=IGE:LSE&subview=BalanceSheet&period=a


Cash call at 1p a share £3m needed .... maths

300m shares ..... a bit of dilution then cometh

dyor

[buywell2] 11/7/2013 11:14

buywell2
20 Jun'13 - 11:10 - 4245 of 4250 0 0 edit

Cash call cometh

''Given the underlying level of standard equipment sales in recent years, the Board anticipates that going forward the Company can achieve profitability on a sustainable basis, and that this will provide a platform for future growth. However, the Board is mindful of the challenges faced in managing the cash flow and is therefore considering ways of introducing further funding to meet the working capital requirements to operate and develop the business.''

[daniel] 11/7/2013 08:48

The company is making good progress,
sales and margin are at all time high.
Now share price is at all time low. What is happening?
Management should please find a favourable solution
and avoid fund raising at this point in time.

[philjeans] 07/7/2013 08:42

They have a mysterious Chinese investor - I hope they have discussed funding with him.

It's a classic tale of under-capitalised UK tech stocks - great innovation and products but no cash.

Keep buying - price assumes it's bust already!

[boonkoh] 06/7/2013 22:41

Market leader in this sector? Hah!

[daniel] 06/7/2013 10:27

The company has been stocked at this share price range in the last 5 years. The best outcome is to find a way to survive. It cannot raise money at this level of 2p again, without wiping out existing investors so a bid will be preferred. But I believe it can survive to become a thriving company & market leader in this sector. This is the best outcome for all of us. Come on management! You can make it!

[philjeans] 20/6/2013 15:33

A rights issue unlikely at this price!

An outright bid from a cash rich tecchie would do the trick.

I'd take 10p.

[buywell2] 20/6/2013 11:10

Cash call cometh

''Given the underlying level of standard equipment sales in recent years, the Board anticipates that going forward the Company can achieve profitability on a sustainable basis, and that this will provide a platform for future growth. However, the Board is mindful of the challenges faced in managing the cash flow and is therefore considering ways of introducing further funding to meet the working capital requirements to operate and develop the business.''

[mjcrockett] 20/6/2013 08:57

The reduction in overheads of 20% going forward is encouraging. This should save getting on for £300K in a full year.

[gnnmartin] 20/6/2013 08:31

Disappointing. Still life there though.
Nigel Martin