Share Name Share Symbol Market Type Share ISIN Share Description
Simigon Ltd. LSE:SIM London Ordinary Share IL0010991185 ORD ILS0.01 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 9.75p 9.50p 10.00p 9.75p 9.75p 9.75p 0 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 3.9 -0.6 -1.6 - 5

Simigon Share Discussion Threads

Showing 1926 to 1947 of 2075 messages
Chat Pages: 83  82  81  80  79  78  77  76  75  74  73  72  Older
DateSubjectAuthorDiscuss
15/4/2017
14:13
Daz - I'm with you wrt investment case. Sure there are risks, as with all micro-stocks, but at 20p these are more than reflected in the ultra-low valuation.
brummy_git
15/4/2017
07:21
I agree with your observations Yump - I bailed out a few months ago as the lack of transparency/clarity around their business model and "jam tomorrow" statements which I found unsettling. I had invested earlier on the basis of the financials and the prospects. There is a definite markdown on companies based abroad and for good reason it may appear. Very pleased with my decision as my SIM money went into IDEA and LTG and both have more than made up for the loss I took in SIM. Good luck to all holders.
multibagger
14/4/2017
23:43
I've sold out a while ago, but the points I'm talking about are: The big lump of cash doing nothing The vague statements - not just one. (But particularly the one about that big contract that was modified, apparently with increased deliverables, presumably free of charge - in which case why and if not why wasn't the increase told to investors ?) The (usual) positively spun stuff about moving to SAAS, improving revenue visibility, but with short term hit, as if the lumpy contracts were actually producing increasing revenue already, which they weren't. You can find them all if you look and if you think its important. I gave them the benefit of the doubt for quite a long time and then thought enough is enough so sold all, on the basis that I can find homes for the investment where I'm pretty sure the BOD are telling me most of what I want to know. fwiw, xenophobic or not, that now excludes all Israeli, US, Australian, Indonesian, Chinese and a few others who float on AIM instead of their own markets for some reason and its a reason that's pretty easy to guess. AIM is risky enough with UK companies where I can use extensive resources to find out what might really be going on and there's enough of them with enough potential reward, not to risk investing in those where I have zero chance of digging out useful information. I think I would have more confidence here if they had a continuously and significant increasing revenue in their original core business, rather than now branching into other virtual training areas. Hope you do well anyway. They certainly could be transformed by decent sized contracts.
yump
14/4/2017
22:36
BB2, My view is they announced the buyback program to soften the blow of profit warning, which was successful as the share price rose on the day of the warning (from memory). They then reduced the dividend to compensate for the money used in the buyback.
cockerhoop
14/4/2017
22:26
Over the last few years aircraft manufacturers have become increasingly savvy about the value of data and are charging enormous sums to the manufacturers of full flight simulators - sometimes even taking a cut of of the hourly training rate. This has also lead to exclusivity deals which excludes minnow operators like SIM from being involved in the civil side of aviation. This I imagine is why they're considering going down the lower tech route of maintenance training and cranes etc, etc where there are no of minimal data costs. Another question i'd ask was regarding the UKMOD program which they provide some support via Lockheed but Lockheed recently placed an order with PEN for CBT type services which I imagine SIM could have bid for. Did they bid? If so why did they fail as already incumbent with Lockheed? Regards the dividend, if you're temporarily suffering a profitability blip and future prospects are good and you've $8m in the bank I think you'd maintain the dividend as a sign of confidence. They could finance 24 years of dividend payments with the cash pile! My personal view is UK shareholders will never see this cash in any meaningful way so should exclude it from any valuation calculation.
cockerhoop
14/4/2017
22:19
Why not keep the dividend and not buy back shares? Doesn't make sense to me.
battlebus2
14/4/2017
20:35
Prompted by Brummy I looked at my SIPP records, and it looks as if the 25% Israel tax has been withheld. My SIPP is with Charles Stanley, and I rather expect them to get things right. If they send me anything telling me what tax was withheld in Israel, it didn't catch my attention. Does anyone get the gross amount? Or the gross amount less 15%?
gnnmartin
14/4/2017
19:05
Did anyone ask why they'd reduced their dividend by 75% when they had $8m of cash on the balance sheet?
cockerhoop
14/4/2017
19:02
Daz, Do you have an understanding of their product? Simibox appears to be a tool that allows customers to create their own training courses? I'm aware of their tie in with Lockheed Martin who presumably allow SIM to use their data to model courseware but i've not seen any other aircraft type specific CBT that they've produced.
cockerhoop
14/4/2017
18:42
Worth giving your broker a call on that BG I tend to think many execution only brokers will take the easy option, which is to do nothing!
daz
14/4/2017
17:13
Yes Daz - I suspected that may be the case. Presumably though some UK brokers may be are to tell whether the end-beneficiary is British or not, and then at least apply the reduced 15% rate (Re UK tax treaty), rather than the higher generic 25% applicable to all other overseas shareholders?
brummy_git
14/4/2017
16:49
Unlikely I think BG as most people have their holdings in nominee accounts
daz
14/4/2017
16:44
Separately does anyone know whether its possible to reduce the with-holding tax rate on Simigon's dividends - say from general 25%, to either 15% (ie reflecting UK tax treaty) or even better 0%?
brummy_git
14/4/2017
16:42
Thx daz , that's very helpful
rhomboid
14/4/2017
16:37
Yump, as BG says, it would help if you were more specific. I've searched through some of your posts and found the following:- You quoted disbelievingly on "... the Company's great revenue and profit visibility for 2017 and beyond". This is referring to the Saas revenues and order book. You commented on the company statement on the Israeli contract. "Once the expected contract has been signed it is due to be delivered within 18 months and its expected revenue contribution has already been factored into management's expectations for the year ended 31 December 2016." I think it's quite clear that they added it to expected, rather than actual revenues and this explains the revenue shortfall compared with expectations. The company did say that they had now received the US signoff, which is a pre-condition for the contract, so I would hope it finally gets signed in the next 2 or 3 months. I would add that they are a hostage as to how fast governments move, which is a weakness but once they are signed, not only do they receive the value of the initial but are in an excellent position to be awarded follow on orders. You've made several comments on the "June 2013 contract" The company said this in the finals '... The Company now expects to complete all system delivery milestones and receive the requisite client confirmations within the first half of year 2017.' Yes it has taken a long time and yes they have probably had to provide extra features at their own cost but the end is in sight and they finally have a new reference site.
daz
14/4/2017
16:12
Rhomboid, Ami Vizer, the CEO, spent the first half an hour going through the bigger picture, the vision if you like: - the likely move to more and more simulated training and the new sectors the company has or could enter into. I think that what's different this time is that virtual reality is finally gaining traction and could snowball in the years to come and Simigon will have their niche. They are a very small company, with limited resources, who are still building their customer base. As a supplier, their progress is driven by the rate of adoption of simulated training by their customers including government organisations and they are not in a position to influence how fast this goes. I think part of their progress has been overlooked; their recurring Saas revenues have grown to 57% of total revenues and as they add new resellers and existing ones extend their use of their platform, this will undoubtedly increase and they are not such a hostage to winning big contracts as they were before. As mentioned earlier they have also increased the size of their order book, so that they have much higher visibility of revenues than before but this is not being recognised. I think part of the problem is that the company being foreign based (US and Israel) are rarely in London and the lack of promotion and the bland nature of their announcements means the company is not well understood. I did say to them that more could be done to promote the company. They ought to be going to some of the investor shows or doing the occasional appearance at one of the investor evenings that different groups organise. Hope that helps
daz
14/4/2017
15:31
Which Qs are you specifically talking about Yump? Masses of stuff has been asked over the past few months.
brummy_git
14/4/2017
15:24
Did anyone ask them any of the 'awkward' questions that were raised on here previously ?
yump
14/4/2017
15:23
Many thanks Daz - yes, my gut feel too is that they wouldn't delist either.
brummy_git
14/4/2017
15:04
BG. I only met the directors for an hour, so only really first impressions. The CEO came across as earnest and conservative, rather than the flashy type often seen with AIM companies. The FD didn’t say so much but is quite young and appears to be relatively inexperienced, which might be a weakness. Re delisting. Probably the most pertinent point is that the directors hold a minority position. Ami Vizer holds 22% of the shares and even though Jeffrey Braun, who looks like a long time associate, holds 13%, that still only adds up to 35%, so they would have to persuade some of the institutions it was worth their while. As a small company, there are other advantages to being listed The scutiny that comes with a listing and having a track record I think means that customers can feel more secure with dealing with the company Acquisitions are much more easily done with a listing and a takeover were it to happen would also probably be at a higher price compared to a private company. I'd also doubt they would be doing the rounds meeting investors, if they were planning to take the company private There are no guarantees though.
daz
14/4/2017
14:35
Hi Daz Very helpful summary, what stops me putting money here is a general sense that I'm investing with no real clue as to how the controlling directors want to see the business develop as a public company. Are you aware of anything that might assuage my concerns? Thx
rhomboid
14/4/2017
14:13
Many thanks Daz – excellent write-up. By the way, what do you think of the CEO and FD? What is the likelihood of the shares ever being delisted from AIM, as a few Israeli businesses have historically done?
brummy_git
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