Kromek Share Discussion Threads

[aqc888] 21/9/2022 17:58

It’s going to lead to both sides pushing to the limit as with the Cuban missile crisis and with a strong possibility of a small nuke being detonated as a warning by Russia. Interestingly the Cuban missile crisis result in just a 7% fall in the US stock market. Anyhow I’ve sold half my portfolio and all of Kromek partly because I might buy a holiday home soon and partly because I think there’s an awful lot of risk out there

[earwacks] 21/9/2022 15:42

aQC. Sadly you could well be right. This referendum idea as almost Pythonesquely comical if weren’t so disgusting. Putin’s life expectancy is very ltd. He has no way out. I would have thought they must have some kind of contingent plan. Especially all the oligarchs in exile. To be fair to Thompson there are few that can have ridden this ‘ unexpectedly bad year unscathed. I have about four out of fifteen in profit. I watched a webinar for BG Japanese trusts yesterday. They are clearly mystified by their overly poor performance. I have 2 poorly performing stocks which are so pleased with their business performance they are considering returning cash to shareholders or special dividend. A case of head down and we will come out of this annus horribulous eventually

[aqc888] 21/9/2022 13:35

Personally I believe the situation with Russia is about to get a whole lot worse. Following on from my last predictions here, which accurately predicted the start of a full scale war in Ukraine back in February.

To accurately assess what will happen next I believe it’s important not to listen to military experts, economists or politicians but to psychologists… and where this is heading is not pretty. Almost certainly there will be a small nuclear bomb - unless Putin is ousted before it gets to this stage, which doesn’t seem likely.

[estienne] 21/9/2022 13:21

I tracked a few of his tips and they've all shown massive losses
Pelatro PTRO
Kromek KMK
SigmaRoc SRC.L
Cenkos Securities CNKS.L
Metal Tiger MTR.L
PCF Group PCF.L
Pennant PEN
WH Ireland
All of these are at about half the price he tipped them at about a year or so ago.
I can't think of any that have made money unless you sold in the immediate hype after he tipped them

[share holder] 18/9/2022 20:50

In my experience yes I have done well by following his tips altough I am currently sitting on losses on three of his tips Tandem SRT and Kromek. He does admit when he is is wrong and changes his recommendation. But he is not right all the time.

[ark87] 17/9/2022 19:40

Does Simon Thompson get more right then wrong? Has anyone tracked his picks? The way he gone about promoting KMK seems dodgy to me . Tipping whole way down for years costing his followers dearly even with some serious red flags. What happened to his April date for Covid detector? nearly 6 months since and nothing?!?!

[earwacks] 17/9/2022 12:19

Really? Would have thought that was the least concern here! Maybe they could have some credibility being more open about their cash position occasionally

[susiebe] 17/9/2022 09:43

Simon Thompson I presume you mean.Best to get the name correct to give any sense of credence to your post.

[earwacks] 17/9/2022 08:49

I was trying to remember what interested me in this stock in the first place. Have to admit it was the highly rated
Steve Thompson. This was another company going to benefit from covid detection.basically it seems to be a gadget inventor of gadgets that are out dated by the time they get to market. 10 years of loss making might be justifiable if it was an Amazon or Google. Sadly more of a a Black and decker I think.It takes non profit organisations to another level. However it is tradable. Somehow how I have come away with three lots of profits. Getting ever more volatile but in the wrong direction and of course the never ending requirement for more money should have exhausted most investors patience long ago.There have been some high profile investors. None of them very good reasons to invest. Bit of an embarrassment for Thompson

[skid35] 16/9/2022 16:58

Acq, no "according" about it. All black and white in the annual report.

[aqc888] 10/9/2022 17:44

According to skid35 on lse chat room the ceo has been “given a 17% pay increase. In addition awarded 1m shares at 1p with performance criteria (making the coffee?) and a further 400k at 1p with no performance criteria.”

[ark87] 09/9/2022 23:40

It's incredible how many professionals Basu has fooled and how much investor money has been lost over 9 long years. This looks like it's heading for another very large dilution at very low prices. £10-15 million raise at 2-4p incoming? Probably billed as "our last ever dilution before we become wildly profitable". How on earth has Basu not been forced out here after such a disastrous tenure?

[quepassa] 07/9/2022 21:21

Keen??

Surely, a grudging hold at best.

The extensive commentary/quotations from highly regarded small-cap expert, Gervais Williams are the crux of the Questor article which can readily be found online.

all imo. dyor.
qp

[secundum] 07/9/2022 18:51

Just to clarify, the nominal value of KMK shares is 1p, and the buybacks are to be made above the nominal value.

So nothing special there. (The directors could buy below, but they'd have to justify it with a special meeting or court pleading. A company law accounting oddity.

Not a holder, but Telegraph's Questor was keen this week.

[aqc888] 07/9/2022 18:37

Kromek appears completely rudderless and in free fall. When will they have spent their way through the current round of fundraisings? What a mess. I had said when I sold my last batch at 13.5p that I might buy in again at 9-10p. However it’s clearly not a bargain. It wasn’t a bargain when it halved in value from 80-40p. It wasn’t a bargain when it halved in value from 40-20p and it still isn’t a bargain when it’s currently below 10p. If it was a miss-understood bargain you’d be seeing director buying now. Personally I’m confident no director will be buying this when it’s 5p. Nothing gets my goat more than directors owning tiny amounts of equity. Believe and invest your own cash or move aside for a company/individual who does.

[andrew97] 07/9/2022 18:32

Not a particularly auspicious day to post a comment! I remain a holder though underwater but no change to my original reasons for investing. Looking through the report I have some concerns particularly in capitalisation of development costs which rather flatters the balance sheet, I also note that about half of the recent fund raise went to replace borrowing which had to be repaid this month, so there is only about an extra £1m going to working capital which last year required £3.5m to cover operating activities and with operational throughtput increasing will probably require more this year; so irrespective of development cost capitalisation they may just have enough cash till April. I am more confident therefore of another raise before the year end which unless they announce some groundbreaking order will be difficult to get away at current share price-I do hope they dont go for a Lanstead sharing agreement. Anyway I am sticking with them as I remain convinced by the technology.

[mjneish] 06/9/2022 22:35

2) Even better, please clarify.

Resolution 9 of the 2020 AGM authorised Kromek to buy back up to 34,489,709 shares from the market down to a price of 1p and at no more than 5% above the market price.



- Did Kromek subsequently buy back any shares?

- Did the share price go down to 1p as a result of this resolution?

[quepassa] 06/9/2022 21:49

Hey neish,

well at least you are certainly right about one thing, namely that you are "... not knowledgeable about these matters".

Suggest you beef up on:-

1) Kromek's long and prolific history of RAISING CAPITAL
2) the typical cash, capital and profitability profile of companies which have the financial resources to buy back their own shares
3) your social skills

[mjneish] 06/9/2022 21:28

ArK876 Sep '22 - 19:13 - 6381 of 6382

I'm not putting forward any arguments either in favour or against this company. I have no idea whether it will do well in future, or go to the wall. Both could happen, or something in between the two. The technology looks promising, but any number of things could happen that upturn it. So it's one to keep an eye on.

Your post was misleading. You seemed to be suggesting that the fact that management can buy back shares all the way down to 1p is somehow a forecast that it will reach that price. Did I read that wrongly? If so, I will apologise to you. Who knows it may reach 1p one day, or rise to 100p or more, but special resolution number 8 will have nothing to do with it.

[aqc888] 06/9/2022 21:12

Investors left in the complete and utter dark. Same as the ventilator fiasco.

Just to recap from Kromeks own website regarding the ventilators…

“Kromek expects to commence production of ventilators before the end of April 2020 and to produce up to 2,000 units within twelve weeks, with 1,000 units available within eight weeks.”

“By combining our existing manufacturing skills with Metran’s proven technology, we expect to commence the manufacture of these robust ventilators from next week and deliver in a rapid manner.” - Kromek ceo.

How many were sold again??

[ark87] 06/9/2022 19:13

mjneish - Everything going to plan here then mate? That Covid detector gonna make £10's of millions aint it? Actually what happened to that? Didn't Simon Thompson confidently say April for news on that front? Will be October before we know it and STILL NOTHING. IF it doesn't work well enough to be commercial viable they should update the market. IF it works but no one wants to buy it they should friggin update the market. I'ts scandalous how management behave here, have only previously seen behavior like this in companies that go bust.

11 May 2021

"Furthermore, the Group remains excited about the potential for its new market segment of Biological Threat Detection. During the second half of the year, the Group commenced piloting its airborne COVID-19 detection solution at an airport and at another public place, which are progressing according to plan and the Board looks forward to providing an update on the next steps in due course."

[mjneish] 06/9/2022 19:01

You mean the comment that they can buy down to a minimum of 1p?

I'm not knowledgeable about these matters (and neither, I suspect, are you), but it looks like a totally standard statement, and it is utterly meaningless to infer what the future share price will be. Maybe someone can clarify. It also mentions that they can buy up to 10% above the market price, but you neglected to mention that.

[quepassa] 06/9/2022 09:32

The terms of the Special Resolution number 8 for the market purchase of shares to be voted on at Kromek's forthcoming AGM at 9.30am in Sedgfield on 28th. September are worth reading in detail.

The stipulated MINIMUM price which Kromek will pay per share is noteworthy.

ALL IMO. DYOR.
QP

[charlie_bucket] 05/9/2022 10:43

Annual Report & Accounts I saw have been published, slipped out in after hours RNS late Friday. It's not in "Financial Reports" on the Investors section of their website but in "AGM 2022"

[aqc888] 27/8/2022 11:11

The big lesson I’ve learned from Kromek is never underestimate the power strong management has on a company. You hear fund managers always bang on about it, but it’s never featured that highly when I look at investments. No matter the fund manager or hedge fund manager being interviewed, they always focus on the management team and it’s importance. With Kromek I was looking at the products and previous poor performance as a sign of an undervalued interesting company. However, the poor past, present and future performance of Kromek can be explained very clearly by looking at the incredibly inexperienced and poor management. Exemplified by the managements lack of self belief and refusal to invest any meaningful amount in their own company. Kromek will only be driven forward by outside forces taking control of Kromeks products and future direction. (Which is still a strong possibility in my view). This is the only basis upon which shareholders can expect to see any gains. The current management, as outlined by Simon Thompson, have been looking at separating different parts of the business. This could be a rare possibility for the Kromeks management to add value. However the constant fundraisings are making them appear distressed. It would appear Kromek management have lost control in my view.