Micap Share Discussion Threads

[sven2006] 05/7/2006 08:40

Jessica - you might want to take a look at GAH and NAD.

[don muang] 05/7/2006 08:26

I'd guestimate that operating profit isn't far away .... if they do realse their potential then eating in to debt payments next .... and after that the overal £££'s. I know it's a bit of a simplistic appraisel ..... but I concentrate on macroeconomic events / trends driving up share price on 'good' companies ...

[jessica5] 05/7/2006 08:18

Dom,the egg and chicken spring to mind fella...;-))

[don muang] 05/7/2006 08:16

with revenue streams increasing then they actually night start accumulating £££ soon .....

[jessica5] 05/7/2006 07:27

Great deal....IF ONLY THEY HAD SOME CASH...LOL....;-))

LONDON (AFX) - Micap PLC said crop protection company Nufarm Ltd has signed
an exclusive option to evaluate and license Micap's patented yeast encapsulation
technology for a range of applications in the agrochemical field.
Financial details were not given.
Over the period of the relationship, Nufarm will pay Micap access and
milestone payments. Micap will be entitled to a royalty on all sales of products
containing the Technology if it is subsequently commercialised by Nufarm.
The worldwide crop protection market was in excess of 30 bln usd in 2004,
with fungicides and insecticides accounting for approximately half of this.
Micap is also in advanced stages of discussions with another agrochemical
company for other applications of its patented yeast encapsulation technology
and will update shareholders on the conclusion of any option agreement.
[e-mail]
joy/joy

[kidney] 12/6/2006 14:01

once they can clinch a decent contract I will be very happy.The result's statement implies that there are going to be some deals announced in the near term.Let's hope this is'nt just blah.
The hush hush nature of the ongoing tests and talks does'nt help the share price
I think the technology involved and its potential applications are fascinating.
Why don't they receive financial support for the Phd students working for them?
The best bit of news is the mustard seed stuff.Let's hope they don't have a glitch in producing 4 tonnes of it.What is this worth?
Yea,relations with their shareholders need to be spruced upIMO.

[dell314] 12/6/2006 09:24

memoeryman - I was hoping that you'd responded to my concerns about the cash position here, rather than just making some particularly ridiculous observations.

Hopefully, the following will assist your understanding of the situation:

From the RNS:

"Year end cash balances totalled £0.03m, with short term debtors (including R&D tax credits of £0.15m) of £0.40m. Our Bankers, NatWest, have supported our business through the provision of an overdraft facility to help us manage our short term cash requirements".

Did you note that they specifically mention "short term" requirements being assisted by the Natwest facility. Where are the longer term requirements coming from?


Did you notice the following and understand it?

"In addition we are in advanced negotiations to assign our lease at the former Head Office in Haydock. In what are quite difficult
conditions in the property market, we have made a provision in this year's accounts for dilapidation works as dictated by the terms of the lease".

It is clear that MIC are having to make a provision to cover lease assignment and dilapidation works. If you have a look at the numbers, you will see that exiting Haydock is likely to cost MIC around £195k. Where will that cash come from?

Finally, the following tells you that MIC are still net burners of cash:

"..We are now in a position to reduce our cash burn significantly..."

They had around £30k at FY end, so are presumably well into OD territory by now.

Do you have any sensible observations regarding the above points, or are you just going to continue cut'n'pasting all day??

Rgds
dell

All IMHO, DYOR etc.

[memoeryman] 12/6/2006 08:51

dell314 - 10 May'06 - 11:53 - 48 of 67

FROM THE EEG THREAD......for posting inacrurate and deliberetley reramping the share price with false info ...IMHO DYOR
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dell314 - 10 May'06 - 12:40 - 53 of 67


Post removed by ADVFN


dell314 - 10 May'06 - 12:59 - 56 of 67


Post removed by ADVFN

[dell314] 12/6/2006 08:44

memoeryman - The results specifically refer to the new OD facility dealing with short term cash requirements.

Where do you think the longer term cash requirements will come from, eh??

Rgds
dell

P.S. I think you'll find that most financial discussion sites allow the posting of both positive and negative points and don't remove posts for "deramping"!

[memoeryman] 12/6/2006 08:36

oh yes and he will now try to discredit me as a PnD .....and try to use his twisted ways to get me to answer all sorts of stupid questions, I will ignore him as he is a complete idiot imo !!

[dell314] 12/6/2006 08:01

Here they are at last!



It would appear that the delays are due to the cash having run out, coupled with them losing the expected additional business from "a major flavour company" to a US competitor.

From the previous trading update:

".......The production contract with the major flavour company, which was mentioned in the interim results has not yet been concluded. We are currently finalising the specification for the second phase of the upgrade to the plant, which we will need to carry out to service this contract, and we anticipate this will be concluded in the near future. If it is not trading will be impacted...."


H2 revenue news is positive but even with H2 turnover being ahead of that mentioned in the trading update, the results are about £300k worse than I was expecting after running the numbers from the trading update through a spreadsheet. This appears to be mainly due to admin cost percentages not coming down as much as I had factored in.

I suppose the big question now is can they survive on this new overdraft, or is a further fund raising inevitable, with the OD simply as a stop gap?

All IMHO, DYOR etc.

Rgds
dell

P.S. I'll try and have a look in a little more detail, later....

[learntlesson] 09/6/2006 15:09

Nice one Hallucigenia, good work. Can't say I feel it bodes well, however - that they make a statement that results are due this week, and then they delay till next without even making a public announcement.

Are they not expecting anybody to be waiting for them?

Anyway, I've always had a soft spot for Micap's technology - and their business can't really get any worse, so I'm very interested in whatever new developments there may be.

[hallucigenia] 09/6/2006 13:56

I've just phoned Micap - they're due on Monday.

Now it could just be problems with the accountants, but one would assume that the delay is either in getting a deal signed, or sorting out a fundraising if there's no deal.

[learntlesson] 09/6/2006 13:36

So where is the news!!!!????!?!?!?

[learntlesson] 08/6/2006 15:44

1 day left.............

[goldengoose] 05/6/2006 23:29

Good luck Blue... could be interesting, despite recent selling & dwindling funds.

[stewartf] 20/5/2006 08:01

Was this what you were expecting?


Release - Preliminary Results

RNS Number:2738D
MICAP PLC
19 May 2006


19 May 2006

Release of Preliminary Results

Micap Plc

Micap plc ("Micap" or the "Company") will release its preliminary results during
the week commencing 5th June 2006.

Contact:

Micap plc 01942 625590
Michael Norris, CEO 07966 341802

About the Company

Micap is a provider of microencapsulation solutions to a range of customers in
fields such as flavour delivery, agrochemicals, healthcare and industrial
applications, using both its proprietary yeast cell technology and bespoke
methods developed by its scientific team.

[bluedolphine] 18/5/2006 18:13

well they didnt announce today... they said within two days, so tomorrow is rns day ;-), lets hope they release it at 7am and its bloody good news

[bluedolphine] 17/5/2006 19:03

yer fraid so mate... i thought this would be a safe bet ;-)

[bagroundnoise] 17/5/2006 18:32

blue, you not in this are you?

[ct98] 17/5/2006 18:19

Would that be tomorrow?

[bluedolphine] 17/5/2006 18:16

actually i got an email saying we would get news ;-)

[daveperry] 17/5/2006 17:01

Tomorrow never comes.

[bluedolphine] 17/5/2006 16:58

oh could it be tomorrow ;-)