Kromek Share Discussion Threads

[edmonda] 28/1/2019 08:21

after today's news of a huge , 7 years order, updated Equity Dev research note just published - with material increase to analyst's fair value for Kromek shares.

Note freely available here :

[quepassa] 28/1/2019 08:06

NO name given for the customer again.



Wonder whether it's from the same customer who gave them the 4/4/14 $159million contract?

Now almost 5 years into that contract, anyone care to say how much Kromek have received under that contract?


ALL IMO. DYOR.
QP

[2niffy] 28/1/2019 08:02

Remember the Chinese order announced back in 2014?The overall value of the contract over the next seven years is said to be in the region of US$159m or nearly £96m. ???

[susiebe] 28/1/2019 07:15

€58m contract!I suppose some will still find something negative to say!

[mirabeau] 28/1/2019 07:08

That's the first significant order since KMK became a listed company

[ayl30] 28/1/2019 07:03

Good rns this morning, big contract spanning several years

[daz] 27/1/2019 22:53

Great posts TSOW and Serratia. I've followed this company for a while and had noticed they had burnt through most of the cash raised 2 years ago but had not checked the receivable position, so thanks very much for highlighting.

I think all holders should check this out for themselves, here's a link to the interim's

Section: Consolidated condensed statement of financial position - Current Assets
It's about half way down.

It makes the company uninvestable IMHO but please make up your own minds.

[serratia] 27/1/2019 20:48

susiebe,

I've been following this company as I have a technical background and the story looks interesting. I haven't invested or looked deeper as I was waiting for them to make more progress.
SOG's post encouraged me to look into the accounts which I had intended to do down the line a bit. At the last year end they had sales of £11.8m and receivables of £12.5m ie they were owed more than 1 years sales. That is very unusual I've never seen anything like that before. The next step was to look at the overdues and the payment terms. They state average terms are 54 days. Next step what are the overdues ? They say that if payments are over 120 days late they would write them off as bad debts but retain an over ride at managements discretion. At year end £876k of sales were overdue by more than 120 days which came under their over ride and they wrote off around £300k as unlikely to be paid.
Moving on to the latest half year figures. They had sales of £3.7m and receivables had risen to £13.1m so it looks like they're still not getting paid on time.
There is another issue which is out of their control re fund holders. You're right to be suspicious of first time negative posters but looking at the figures he/she is correct to be concerned.

[owenski] 27/1/2019 19:47

A one day old sage, not much experience behind that moniker then. lol

Agree with what he says though.

[susiebe] 27/1/2019 17:09

The Sage of Wiltshire,no previous posting history...mmm..suspicious!

[quepassa] 27/1/2019 05:39

i couldn't agree more.

[the sage of wiltshire] 26/1/2019 18:36

Forensic analysis of Kromek's recent half year results should concern investors. Cash receipts from customers was a meagre £1.9m, significantly less than the posted revenue of £3.7m. Receivables at 31/10/2018 stand at £13.1m. Kromek is bankrolling its customers. Presumably, Kromek is adopting an aggressive revenue recognition policy, front end loading profit with cash coming down the line. Price and terms are interchangeable which suggests Kromek's high gross margins may not be realistic. In any event Kromek is burning cash at an alarming rate. This cannot continue indefinitely.

[susiebe] 21/1/2019 10:28

Good demand for shares hereA break into 30s on the cards imo

[hickersp] 17/1/2019 20:58

Positive write up by Simon Thompson (investors chronicle) in the edition arriving in the post tomorrow ......recommending buy

[owenski] 17/1/2019 16:05

The definition of delusion is; The easy ability to air brush the embarrassing past from the present and cling to fantasy views of how it will be. lol

[quepassa] 17/1/2019 15:56

Hi Culford,

You seem like a decent enough sort of chap but aren't you completely deluding yourself about Kromek?

For example this is what you wrote two years ago in post number 685 on 21/12/16 :-

"Isa

This one has huge potential but may be 12 months from take off. The big contracts are scheduled for back end of 2017."

So where are these "big contracts"????


and your post 690 of 22/12/16:-

"QP
KMK has disappointed the markets and its share price is languishing accordingly. In year to April 13 its revenues were £2.7m and in year to April 16 its revenues were £8.3m - a growth of threefold over three years. In the last year, when it attracted Sir Peter Williams to become its Chairman, its orders received were $30m, or c£24m, but these will be received over multiple years. In the current year, sales will be marginally higher at c£9m.

In the past year it has become sole supplier to Darpa, the US agency to which it has supplied >$6m of sales. Darpa has said that it will increase the size of its nuclear detection tests (which need KMK's devices) in 2017 before rolling this out to c15 US cities in 2018. See last news:
KMK will receive orders of c$10m for each city so that is orders of c$150m to be received from end of 2017 for 2018 and beyond. In October it received orders for a military solution for the US and UK military, which will be of similar scale and slightly later timing.

Thus whilst i share your disappointment on the share performance, you cannot say that there is a diminutive growth in sales and the potential growth can be checked from third party sources."



...and there are numerous other similar examples from you.

All these posts of yours have been proved time and time again to be nothing other than pie-in-the-sky.


$150million of orders?????????????? Come on, that is just plain nonsense and has been proved as such.


No offense intended but isn't now the time for you to face up to reality, remove the rose coloured glasses and stop the hype ??


ALL IMO. DYOR.
QP

[culford] 17/1/2019 12:10

This company has market leading IP in two huge markets (medical screening and nuclear detection). Its IP has been validated by the US and UK governments and a lot of commercial customers now. It is a matter of time before it makes the break through with large orders and a commensurate increase in share price/valuation. In meantime revenues from smaller customers is growing at >20% p.a. and it became EBITDA positive last year. Not sure why it upsets Chimers so?

[chimers] 16/1/2019 18:05

Only deal your gonna see here is a discounted placing thats currently being worked..................imo ;)

[mfhmfh] 16/1/2019 16:44

if it can get past this current mini-resistance could rise nicely to 32p.

any big deal that's announced and could rise even further. IMHO.

[susiebe] 16/1/2019 16:15

This company has made Chimers non stop ranting and raving on Monday look silly.Glad i had a chance of a cheap top up though!

[quepassa] 15/1/2019 10:38

Basu interviewed on Proactive yesterday. Watch it.

7 minutes video following yesterday's Interims.

What was missing???

NOT A SINGLE WORD ABOUT YESTERDAY'S FINANCIAL FIGURES.

Lots of fine-sounding words and cheap catch-phrases but when it comes to hard financial details....

...ZIPPO and I mean absolutely nothing.


funny old world innit.


ALL IMO. DYOR.
QP

[daz] 14/1/2019 12:24

Yes, the cash outflow has been bad recently. When they raised 21m, almost 2 years ago, they said that 17m was '.. to strengthen the Company's balance sheet, driven by OEM requirements.' That now looks like complete tosh, with cash and cash equivalents down to 6.3m.

The Equity Development note though does say they 'expect' cash flow to be positive in H2 and so this does look like the low point and the cash position should improve from here.

Although I like the business, with profits not forecast for this year or next, I still think they're too expensive and am not tempted to buy back in yet.
Some further big contract could change that though, so I have them on my watch list.

[chimers] 14/1/2019 12:23

The Simon Thompson pump and dump usually takes only a day to wear off.
Then it TANKS!!