Rock Solid Share Discussion Threads

[chrisis33] 09/3/2012 12:06

Lack of newsflow over the past few weeks is the reason IMO. RSI need to see higher revenues to cover their costs, and the hope is that contract news is such that profitability is achieved.
Just my tuppence worth.

That said, the strategic review should conclude this month, and there may be an update regarding possible sale etc.

[christianf12] 09/3/2012 10:29

The strategic review has gone on for 4 months today now and we are down from 2.25p on the day it started to 1.375p today, that's minus 40%.

The strategic review was started because the company thought:

Disappointingly, despite the significant progress made since November 2010, our share price appears to be completely disconnected from the current and future potential of the business.

unbelievable!

[christianf12] 09/3/2012 08:50

Rbonnier, 4p would make sense. The last placing was at 4p and the most recent director buys were at 3p.

Can't be long now till we find out surely.

If the directors believe the company to be so undervalued then yes, I expect they will be desperate to buy the company themselves.

[rbonnier] 08/3/2012 22:35

From the 2011 Preliminary Results

Disappointingly, despite the significant progress made since November 2010, our share price appears to be completely disconnected from the current and future potential of the business. The difficult capital markets, has meant that raising equity funds to build on that progress and take the Company forward at speed did not appear to management to be palatable option. For these reasons, the Board decided to explore the strategic options available to RSI and accordingly on 9 November 2011 announced the appointment of Simmons & Co International Limited to assist us in that review. When completed, the strategic review may result in proposals to stay as we are, restructure, sell part or sell all of the Company. This process will continue into the first quarter of calendar year 2012 and I look forward to reporting on the results in due course. In the meantime, as can be seen from recent contract awards, the RSI team is very much engaged and pursuing commercial opportunities.


It is acknowledged that, depending on the timing of the anticipated increased sales and revenue inflow and the JIP inflow, additional funding may be required during the second half of the financial year and this is currently being addressed by the Board. In particular it may be necessary to finance the repayment of any remaining balance on the WISE services prepayment on 30 June 2012. At 31 August 2011 this balance stood at GBP1,542,000 and is included in other creditors in note 20.

The Directors believe that there are reasonable prospects that any necessary additional funding from shareholders will be successfully concluded in the second half of the financial year. They believe that the Group has generated a strong sales backlog position and has put in place the capacity to handle this growth in revenues. The Group should also be moving towards profitability in the third quarter of the financial year. However, any failure to successfully conclude a further funding arrangement, which for the reasons set out above is not currently anticipated, would result in some uncertainty over the Group's ability to continue as a going concern.

Taking all the above into account, the Directors believe that it continues to be appropriate to prepare the Annual Report and financial statements on a going concern basis.

So we know raising funds at 3p was not a palatable option so imo forget any fund raisings down here .We are now into the second half of the financial year and the 3rd quarter so the company must be moving towards profitability as we have not been told otherwise and crucially a fund raising must be necessary to continue to trade so if that isnt going to happen imo the company is going to be sold,the question is at what price ......my contact says 4p .possible mbo ?

[christianf12] 08/3/2012 20:48

RBonnier

Depends which way you look at it.

It's a sell from a private investor but the Market maker fox Davies bought the shares off them at 1.25p so fox Davies are now long that 150k shares so will look to offload them at 1.5-1.75p no doubt. Some would say that is strange as fox Davies are the ones with a 13p target here.

This strategic review is starting to annoy me now to be honest. The share price is now below, nearly by half what it was when they started it, for the reason that they thought the Market wasn't valuing the company properly.

Well I await the result of the strategic review but what on earth are they doing?

If the Market is not going to value the company at what the company thinks it should be I imagine the directors will be buying millions of shares each when we conclude the review. I expect them to be issuing options at multiples of the current share price I expect them to get on the presentation trail and start getting the word out. I expect them to be meeting with institutions and increasing the shareholder base.

Anything would be better than this!!!

[rbonnier] 08/3/2012 18:07

It appears that the 150k trade at 1.25p is a buy how theyve managed that Ive no idea but look at the disclosure on the 5th March from Fox Davis and then look at the one today at 17:17 and that trade is clearly a buy .

This is getting tedious with the strategic review dragging its feet and an share price that is clearly struggling with the uncertainty and a seller thats now prepared to take sub 1.25p .

[christianf12] 08/3/2012 15:49

Few sheeple selling again. It fascinates me, people see a few buys and panic buy and some see a few sells and panic sell. No news so why sell at 1.25p when they could have got 1.5p a few hours ago?

What has changed?

One positive is at least that particular seller should be gone for good as can't see them getting a chance to buy back under 1.25p.

[christianf12] 07/3/2012 08:46

Any chartists have a view on the RSI chart, inverted head and shoulders at the bottom, cup and handle, looks promising to me : )

[christianf12] 07/3/2012 07:36

Promising, don't think they would be hiring if things werent going as planned
: )

[rbonnier] 06/3/2012 22:05

plenty of job opportunities at Rock Solid Images more than can be said for many companies here .

Open Positions
Business Development Regional Manager (Europe)
Research Geophysicist
Petrophysicist/ Rock Physicist
Scientific Programmer
Seismic Interpreter
Senior Seismic Q.I. Geophysicist

[christianf12] 06/3/2012 16:35

Up on a day like this, very encouraging.

[multibagger] 06/3/2012 12:16

On a minor hatrick today...SLN, SUMM are on the leader board and RSI showing some life !

Edit: SLN and RSI on leader board, SUMM showing some life now ! Come on VIY !!

[hatetrader2] 06/3/2012 10:27

UKMassy

I know that, it's their form of defence, pump and dumpers have to have arrogance
otherwise they could not post the lies each day to assist them, is greed good
well i'm not too sure.

He thinks i lie about Dcd, well i was at the gym at the time, when i left for the gym it was up less than 5% somewhere around 4.5p and pretty dead, i then got a text 20 mins later saying it was 6p, must be a mistake, rang my broker by then it was 7p bid, ran home as just up the road and by then it was 9p bid going mental, being at the gym made me a lot more as i would have sold at 7p, offloaded most of
my stock and friends stock above 9p, i had 3 people in this company so it was very satisfying to ring them and tell them they had made thousands that day :-))

[christianf12] 06/3/2012 10:23

Are you two the same person or do you just follow each other around advfn as you both appeared here at the same time this morning.

Anyway, makes little difference to me as you are both filtered.

[ukmassy] 06/3/2012 10:19

He won't ever admit it Hatetrader. He only cares about his bank balance. Ethics are out the window.

[hatetrader2] 06/3/2012 10:15

You've done that for years now :-))

You post lol when you know i'm right :-))

[hatetrader2] 06/3/2012 10:05

And you are calling me bitter :-))

Strange because i have friends who laugh and ask how on earth you lot get away with what you do on the topinfo thread :-))