Infonic Share Discussion Threads

[ric_ola] 23/1/2009 13:35

Well there you go.

Great!

[broomsticks] 23/1/2009 13:34

OPINION.

I have only just received the news. I truly believe that someone wants this company on the cheap and that this situation has been engineered regardless of the position with Pacific Continental Securities or the credit crunch.

egoi thanks for your comments and to all other posters I offer my sincere apology if anyone has bought any shares based on anything that I have posted here. I can only say that the technology is world class whilst the management definitely is not in the area of ethics. Ethical areas seem to have evaded its members but in other areas, such as greed, well in my opinion, its expertise is all too obvious.

What a disgrace this management is. I feel sick when I think about its incompetence. I still have my doubts about what really happened with KnowledgeLake Inc and the vaguely accounted for $10m. Perhaps we need an official investigation.

That situation has niggled at me for a long time to the extent that I have kept much of the information. Right back to 2003 we are looking over the pond and perhaps still are imho. I will not let this rest I will go back over 8 years of information because something doesn't add up. Genuine people should not pay the price for this mess.

Infonic will expect a shareholder outcry and will also expect that then it will all go quiet and we will sheepishly accept the situation and move on, not so Mark Thompson. Not this sheep anyway!!

aimo,dyor

[borsya] 23/1/2009 13:29

Statement re suspension and trading update (Infonic)





TIDMIFNC

RNS Number : 1701M
Infonic PLC
23 January 2009

23 January 2009


INFONIC PLC ('Infonic' or the 'Company')




Trading update and Share Suspension




Infonic plc, (IFNC) the AIM-listed provider of innovative information management
software, makes the following statement regarding results for the year ended 31
December 2008.


As in previous periods and as disclosed in the interim results, the Company's
financial results remain reliant on certain material contracts. Unfortunately
some contracts, some of which are material, were not concluded before the year
end and there is uncertainty as to the exact timing of their conclusion.


Consequently results for the year ended 31 December 2008 will be significantly
below market expectations.


Additionally, the Company has some credit facilities which are expiring or
payable during the first quarter of 2009. Infonic is seeking discussions with
debt providers and shareholders to provide short term finance.


In light of this, the Company has today requested suspension of its shares from
trading on AIM, while it seeks to clarify its financial position. A further
update will be made in due course.












Enquiries to:


Infonic PLC
Mark Thompson, Chief Executive
Tel: [phone]

[broomsticks] 23/1/2009 13:26

OPINION.

I have only just received the news. I truly believe that someone wants this company on the cheap and that this situation has been engineered regardless of the position with Pacific Continental Securities or the credit crunch.

egoi thanks for your comments and to all other posters I offer my sincere apology if anyone has bought any shares based on anything that I have posted here. I can only say that the technology is world class whilst in the area of ethics the management definitely is not. Ethical areas seem to have evaded its members but in other areas, such as greed, well in my opinion, its expertise is all too obvious.

What a disgrace this management is. I feel sick when I think about its incompetence. I still have my doubts about what really happened with KnowledgeLake Inc and the vaguely accounted for $10m. Perhaps we need an official investigation.

That situation has niggled at me for a long time to the extent that I have kept much of the information. Right back to 2003 we are looking over the pond and perhaps still are imho. I will not let this rest I will go back over 8 years of information because something doesn't add up. Genuine people should not pay the price for this mess.

Infonic will expect this shareholder outcry and will also expect that then it will all go quiet and we will sheepishly accept the situation and move on, not so Mark Thompson. Not this sheep anyway!!

aimo,dyor

[egoi] 23/1/2009 12:56

I can't remember feeling this gutted about a share I'm not even holding.

joe you are right, they must have been spending heavily, but just on Lexalytics???

Over the years at different times we have I think all expressed amazement at how much cash they have got through.

It begs the question - Just exactly, where the h*ll did it all go?

[joestraughan] 23/1/2009 12:53

The bank must have withdrawn the facility? Hopefully, an insti investor can stop MT from buying it cheaply. Although, who would give him finance?

[volvo] 23/1/2009 12:43

LOL another boiler room AIM scam. If Thompson and his cronies don't buy this from the administrators then I am a china man.Thompson has been taking 192k per year for a loss making company.

[joestraughan] 23/1/2009 12:34

If they had used only £4m of a £9.75m facility at June 2008, they must have been spending heavily -lexalytics?!!

[joestraughan] 23/1/2009 11:50

ric_ola - yes, I had been thinking of buying a few hundred thousand more, but thought it might be wise to see an updated balance sheet! Has anyone phoned the company? I'll have a chance on Monday - but perhaps we'll hear more today? Perhaps Autonomy will make a mercy offer for them?!!!

[ric_ola] 23/1/2009 11:41

Actually - funny thing is I'm waiting for transfer of pension money from old pension into my new SIPP - was planning an averaging down operation (must be averaging about 6p a share).

Thank the lord the old pension company are... less than efficient with money transfers.

We live we learn - obviously I need to study more.

[joestraughan] 23/1/2009 11:33

Well, I just find it hard to believe that with contracts with MOD and US military, it would have to show it could carry on in business for the foreseeable future. If they are going to announce again shortly, then something must have been arranged? Still, de-listing was always on the cards and perhaps they will now be taken private?

[pabloscaramanga] 23/1/2009 11:25

was it one of those tiopping websites which said 16p was a resoable target

shame as ifnc was actually generating a good client base albeit with small orders

[egoi] 23/1/2009 11:04

It's a good point about the FD going when he did and dumping - one that was made at the time as you say. Often a sign of something in the ether.

H101 I can't tell you how sorry I feel for you, as for all holders of course; Thompson I'm afraid has a lot to answer for to people like yourself, and Broom too, who has put in so much research and effort into raising the quality of this board and our understanding of what are, lest we forget, world beating products.

I'm reminded particularly of the (reported) comments from management, something along the lines of 'filling your boots at this price', wasn't it?

All so bloody sad and such a waste.

[wolf_top] 23/1/2009 11:04

We just know this RNS means the company has no cash, no credit line left & nowhere to go! Right now I consider my shares to be worth 0p and have to believe this will not change.
Any sales will be for less than they owe.
I have been watching for directors buys at the lower levels for some time and worried they did not happen but kept holding on the strength of the good new business RNS's.
This is a good lesson in holding in a small company where the directors own very few shares and pay themselves a fortune in salary.
Like you H101 - blame myself!

[ric_ola] 23/1/2009 10:50

Well - I'm in for a big loss also - granted - 65% of that loss is in my pension - so a few years to recover.

Re. suspension - my last experience of this was Langbar - and you really don't want to know the outcome of that... so all in all - I have a very negative feeling about this.

Anyway - it's something I can get depressed about over the weekend - great!

[joestraughan] 23/1/2009 10:46

We're not quite in administration yet! I think the business is likely to be sold or some investor will take it for a very low price? I'm just surprised that with the recent merger and contracts, you would have thought that there would have been some due diligence on their finances! Let's see if MT can bluff his way out of this!

[retford1] 23/1/2009 10:45

I feel for you H101, I'm in for a big loss if Mr Thompson doesn't have an ace card up his sleeve. Hindsight is wonderful, however the signs that all is not well have been there for us all to see and indeed we have all commented on the complete lack of Director buying and then there was the FD leaving under a cloud and selling his entire holding at 4p! On a positive note, I have known companies come out of suspension in much better shape than they were before. Fingers crossed for all holders.

[rathkum] 23/1/2009 10:36

I guess this is one way to buy the company on the cheap from the administrators (which seems likely).

[h101] 23/1/2009 10:33

Second time around for me :-)

Some years ago I cashed in some insurance policies and moved pensions. I bought Bioprogress. The company put out a profit warning twice and I came into work to see my investment had dropped to 30p (my average probably was well over £1). It turns out there is speculation that this may have been an engineered situation where organised shorting took place. I lost about 70% of my investments.

I sold at the bottom and moved on. I then started putting the money, my pension and savings into a company called Corpora, now Infonic. I also, latterly put a proportion into a company called Meldex (Bioprogress as was) because I believed the RNSs that it had turned round and was doing well. Funnily enough Meldex was suspended recently, and is under investigation. Some of the board were eased out and replaced by two major shareholders following a shareholder revolt on these boards.

Becoming disillusioned with shares I now find ETFs my investment medium of choice.

If this and Meldex go down the tubes, I've lost pretty well everything. I blame no-one but myself and the incompetence of the directors in the companies I gambled in (I won't say invested). Thankfully my wife won't divorce me over this, my house is paid for, I have a steady job and a few years left until I retire.

[pabloscaramanga] 23/1/2009 10:32

gr8 - sounds like they have run out of cash and are toast. anything sold will go to creditirs and PI's lose their dosh.

all a guess

[joestraughan] 23/1/2009 10:28

Well my guess is that they're scrambling for financing or will appeal for a partner to bail them out or buy their business - I guess that we will know shortly as indicated in the RNS? The outcome may have already been decided?

[ric_ola] 23/1/2009 10:15

Well - this has made my morning.

Any ideas of the timescales that this could go on for?