Kromek Share Discussion Threads

[yf23_1] 25/8/2022 17:58

SImon Thompson - they call me Mr. Jackanory !

[ark87] 23/8/2022 16:03

"Funding at huge premium to current share price….." It's not that simple though is it? They will get all their money back regardless.

[quepassa] 23/8/2022 14:34

In my opinion, again paying a massive 8% for short term money is shouting a message. Not to mention the equity kicker on top of that.

All imo. Dyor.
Qp

[aqc888] 23/8/2022 14:27

Last £13m fundraising was to…

“help drive forward its growth plans.”

“to de-risk and commercialise its bio-security and pathogen detector, as well as allowing it to ramp up its commercialisation rate.”

“next phase of growth and to become cash flow positive and achieve operational profitability.”;

- Feb 2021

[strategicinvestor2] 23/8/2022 14:01

Funding at huge premium to current share price…..

[aqc888] 23/8/2022 13:38

Another new fundraising today !


Fundraising of £1.14 million

[ali47fish] 23/8/2022 13:14

more fundamental to know if its good or bad?

[zipstuck] 23/8/2022 13:07

wonder if this is the last fund raise in this sequence

[aqc888] 23/8/2022 07:40

His article before last titled “pivotal year for Kromek” explains it. We all know Kromek can’t keep the loses and fundraisings for much longer. They need to pull off some of the things they’ve said they would. Otherwise I can’t see where they’ll raise any more money from. Given they were saying last year to expect sales of the covid detector by January and full spectrum detector by April… then come August we seem to have no sales and talk of the “feasibility” of further trials?! What happened to all the sales we were promised?! Kromek will “pivot” up or down this year, they are approaching the end of the runway fast and it’s not looking great. Who’s going to believe a word they say after all the previous RNS announcements that haven’t been followed through on. (Hence my exit last week on the Simon Thompson bounce).

[ark87] 23/8/2022 03:19

They jack the price up because they know the Investor Chronicle mugs will buy in at any price. Simon Thompson has lost his followers a fortune by continuously tipping Kromek. If /when they go bust i don't know how he will be able to explain it.

[b00mb0y] 22/8/2022 19:01

Or the spikes are false.

[b00mb0y] 22/8/2022 17:59

I don’t think this is very odd anymore. I’ve thought for along time now that it’s MM’s playing a very nasty game with PI’s money. These drops have no reasoning.

[aqc888] 22/8/2022 17:35

Fortunately I sold my last remaining Kromek last week. Over 12% loss in one day without even any bad news? Very odd.

[b00mb0y] 22/8/2022 16:56

If only I was a trader!!!

[b00mb0y] 22/8/2022 16:56

Same old, same old!

[aqc888] 22/8/2022 16:54

What happened here today?!

[quepassa] 19/8/2022 21:29

The thing that is totally unacceptable from a corporate governance standpoint is that there appears to be ZERO ACCOUNTABILITY for many of the past price sensitive RNS announcements such as the:- $159 million contract, the $58 million contract, the ventilator project, the pathogen detector during the covid pandemic.

Just what is the Kromek Board doing about so many major RNS announcements where the follow-through and performance of those announcements has been highly questionable?

The clear pattern is that major announcements are made and thereafter shareholders are left in the total dark.

How can the Board expect shareholders to have any faith in any announcement made by Kromek when there appears to be no accountability to and by The Board as to follow-through and performance on those announcements?


ALL IMO. DYOR.
QP

[aqc888] 19/8/2022 20:33

“We are currently in discussion with the UK Government about the feasibility of a region-wide pilot of the technology across County Durham and Tyneside in the coming months.” - Kromek


Strategic, do you remember last year Kromek saying the results of the laboratory accreditation would be released very soon - then they seemingly forgot all about it and never released any detailed results from the lab. Or the time they said the trials of the detector had gone brilliantly- but never released any statements from any of the organisations that took part (school, hospital, airport). Or the liquid bomb detectors that weren’t sold. Or the ventilators that weren’t sold. All of these announcements / reversals are never explained to shareholders. They just keep feeding more nonsense. According to what we’ve been told by Kromek they have the worlds only biological pathogen detector that is fully autonomous, no need for labs or skilled technicians. That detects any known or unknown pathogen with humongous accuracy and only costs £20k each. Sounds miraculous to me! Only they haven’t sold any - they promised Simon Thompson they would have sales of the covid detector by 2022 and the fully spectrum detector by 4/22. It’s now 8/22 and they are still doing trials?! They were saying sales would be happening 8months ago? Why now are they saying it’s still in trials and talking about the “FEASIBILITY” of further trials??? It’s all works we’ve been told, it was ready for sale 8months ago we were told…

Why has so so so much of what Kromek says not materialised? Don’t answer it’s cutting edge tech blah blah blah… they need to explain why all the previous announcements haven’t happened before making new announcements. The detector has accuracy better than a pcr. The detector has false alarm rate of 1/800,000 I think Simon Thompson quoted…? And it passed the accreditation. Why isn’t it selling? Why are they discussing the FEASIBILITY of a trial for a machine that successfully completed trials in schools, hospitals and airports?

Or perhaps it is about to sell to all the “multiple governments they are in serious discussions with”…. Perhaps the market is getting it all wrong with Kromek?!! Would be a great buying opportunity for the board no? How many shares have the board purchased lately? Hmmmm - why would that be?

[b00mb0y] 19/8/2022 18:53

Wake up and smell the coffee. Or just forget you ever invested/gambled in Kmk.

[quepassa] 19/8/2022 16:26

YAWN YAWN YAWN

[strategicinvestor2] 19/8/2022 15:50

In talks with UK government on roll out of pathogen detection across Durham and Teeside. No doubt there will be detractors saying been waiting for this since 1066. An exciting development with £nil in the price so a bonus if anything takes off. IMHO DYOR

[ark87] 13/8/2022 04:11

AQC: I got roped in by the Covid detector. Seeing how that played out and how shareholders where treated(disgustingly) i've come to the conclusion that something is rotten in the state of Denmark. I'm expecting full wipe-out here with a small chance of positive game changing news.

[aqc888] 12/8/2022 14:55

“This was a milestone year for Kromek as the Group delivered on all of its objectives, including the key target of growing adjusted EBITDA. For the full year, revenue increased by 23% to £14.5m and adjusted EBITDA grew fourfold to £2.0m. In particular, the Group successfully delivered its largest second half of revenue in its history, which was in excess of £10m. This progress was based on Kromek continuing to execute on previously-signed agreements as well as winning new customers, new contracts and repeat orders across its target markets, with growth driven by increasing adoption of the Group’s next-generation molecular imaging single photon emission computed tomography (“SPECT”) products in medical imaging and the D3S family of products in nuclear detection. It also reflects the increasing commercialisation of Kromek’s technology, with product sales accounting for 83% of total revenue, representing growth in value of 25%. Kromek was also awarded one of its most significant contracts to date, expected to be worth a minimum of $58.1m over a seven-year period, to provide cadmium zinc telluride (“CZT”) detectors and associated advanced electronics to be used in state-of-the-art medical imaging systems.
During the year, Kromek significantly strengthened the foundations of the business and ability to deliver on future growth with the successful relocation of its US operations to a new facility that has been purpose-built for high-volume manufacturing of world-class medical imaging products. This was furthered in the second half of the year via a placing and open offer raising £21m to support the growth of the medical imaging business and sales and marketing of the D3S platform. In addition, the fundraise strengthens the balance sheet to provide flexibility to address and capitalise on identified and future opportunities as they emerge.”

- kromek 2019

Following this “fantastic year” they made loss after loss after loss. With fundraising after fundraising. Did the upto £58m over 5 years materialise? Did all the promise above ever translate into anything at the 2022 results? I used to think that awful past performance of Kromek with the promise of new technology meant I was entering a promising business with past failures weighing on investors minds resulting in an undervalued business. 3years on and looking at past technology such as liquid bomb detectors, ventilators and covid detectors which never resulted in any sales I understand that Kromek was cheap, because it has never shown any commercial ability to turn a profit and still fails to. Many top fund managers talk of investing in companies with ‘strong management’ as a top priority. I fully understand this approach now through the hard way. My holding was at one point tripled. I managed to get out after 3yrs with a very small or zero gain. I suggest listening to top fund managers when they talk of strong management teams being essential. Whilst the ceo seems scientifically great, he had zero experience of being a ceo from what I understand and investors have clearly suffered because of this. I still look on with probably more interest than any company I am invested in at present. My views have changed so dramatically on Kromek I’m waiting to see with great interest how the story ends.

[1luckylee] 10/8/2022 18:15

You are obsessed.

[quepassa] 10/8/2022 17:26

It is interesting to compare and contrast interest rates on debt/facilities/loans/loan notes as paid by Kromek.



Under their £5 million medium-term HSBC Revolving Credit Facility , Kromek currently pay Base + 2.5%.

1. One notes that Kromek now agreed to pay 8% plus equity kicker for short-term 18 month money in an amount of £1.7million as per latest RNS. Albeit extendible by 3 months.

2. One notes that the "The proceeds of the Fundraising will be used to provide additional working capital to minimise any potential supply chain disruption to the delivery of contracts during the year."

3.One notes as per Note 14 of the recent results that Kromek state " In the prior year, the Group successfully secured a 2-year, GBP1.4m Term Loan with HSBC which attracts interest at 3.49% per annum over Bank of England Base Rate. This loan is repayable in August 2022."



A lot going on in the month of August. Although with £1.7m coming in and £1.4m going out in August -their net cash position would appear to be somewhat unchanged.


ALL IMO. DYOR.
QP