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
  0.00 0.0% 13.00 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 2.4 -1.6 -2.9 - 7

Simigon Share Discussion Threads

Showing 2026 to 2046 of 2250 messages
Chat Pages: 90  89  88  87  86  85  84  83  82  81  80  79  Older
I'm a little confused as to whether the $5m prediction from the Final Results is a forcast or expected revenue based on existing, signed contracts? from the Results:

"This confidence is underlined by the fact that we have a backlog of over $20 million over the next ten years, approximately $5 million of which is expected to be delivered and recognised in 2018 (including the contract signed with a particular customer in the civilian training market).""

So the previous 300k contract will make this $5.3million but the recent contract won't contribute, if I understand correctly. But them hitting that $5million figure should not depend on them getting any new contracts?


OK, I stand corrected. Still good to know they are making progress against their target, so I think it's worth doing.
Daz,That's not correct. They are only duty bound to make contract announcements only when they make material differences (greater than 10%) to forecasts.As they state, It's not the case here.
The company are duty bound to make contract announcements, even if they are expected, especially as this contract alone represents nearly 10% of last year's revenue.

I would guess this add-on was discussed at the time of the original contract and was agreed in principle, so the company knew it was coming, if not the exact timing.

It does help underpin this year's forecast. Adding up all the contracts signed this year and adding to that a proportion of the contract from November 2017, which was for 14 months, comes to around $2.3m, to which recurring revenue also needs to be added.
In the finals the company said '... SaaS based contracts now represent more than half of the business in terms of total revenue.'. Given that 2017 revenues were £4.335, that implies recurring revenues of around $2.2m, giving $4.5m in total, so half way into the year it looks like they are well on course to meet the $5m forecast and have a good chance of exceeding it, with a few more contract wins.

Yes it does seem pointless unless they want to remind you they still have a pulse.
But why not pay a dividend if they want to be noticed??

Another contract award for 360k... which they had already accounted for in their 2018 predictions... so no change to the 5m revenue predicted this year. Also, what's the big woop if they already knew they were going to get the contract? and if they didn't, why are they did they assume so for their 2018 predictions? Am I right to be annoyed?
Chaps, that $8m forecast is simply the old Finncap forecast from some time ago. Since mid-2017 Finncap's forecast for 2018 has been "Under Review", so I wouldn't place much value on that figure.

In Feb'18 Finncap said "we hope to reinitiate cover shortly". Given the prelims were over 2 weeks ago I'd hope that Finncap are now in the throes of being guided to new figures for 2018 and 2019 by the company.....

Jinvest1 - Unfortunately Stockopedia doesn't provide the source of the forecasts, I'd also be interested to find out how that figure has been arrived at, which as you imply seems a massive jump compared to previous years and would suggest a significant larger contract is expected to be signed, given the size of those signed in the year to date.
That's good to know they have around 400k+ in new contracts so far in 2018. I'm interested where the 8m forcast came from? As far as I can see in the final year report they have 5m contracts to complete and recognise in 2018, presumably including the carry-over from last year. Add in the new contracts and they are looking at 5.5m in revenue for 2018, hopefully rising to 6m with a couple more through the year. Considering they were making profit on 6m revenues in 2016, and should get a windfall as last year they had to recognise all costs but only half revenue for that large 2m contract, profit margins should be bigger in 2018. If they return to profitability in 2018 I'll be very happy to see the share price rise to 18-20p.
There's no contract value for this RNS but the contract announcements for the year to date have been $125,000 and an apprximate annualised $250,0000, so if you assume this contract is in the range of $50 - 100k, then that makes the cumlative revenue between $425,000 and $475,000, which does help underpin the $8m revenue forecast for this year.
If they achieve this, the shares would look very cheap.

Good to see a new contract win - for the US Air Force, and in a new area too, with a potentially large market:


"SimiGon awarded USAF technician training contract

SimiGon to provide Virtual Reality simulation based training for USAF De-icing technicians

SimiGon (LSE: SIM), a global leader in modelling, simulation and training solutions, is pleased to announce that the United States Air Force (USAF) has contracted the Company to deliver a Virtual Reality (VR) Aircraft De-icing Simulator (the "Contract"). Securing this contract highlights the Company's ability to identify new markets and applications for its traditional customer base....

....The Company estimates the De-Icing market to include more than 100,000 trainees per year in the civilian market. SimiGon's technology and business model is well suited for rapid product rollout to meet expected market demand and the Company is looking forward to successfully leveraging its aircraft de-icing training product for substantial business growth.

SimiGon President and CEO, Ami Vizer, said: "This Contract award is significant for SimiGon as it further demonstrates the Company's ability to identify new markets and their requirements for a cost effective personal training systems and tailor its training products to meet new demands within a short timeframe. This SIMbox-based training product is the ongoing realization of the Company's strategic plan to utilize the technology in multiple domains. We are excited to receive the VR Aircraft De-icing Simulator award to support USAF technician training and expect to further penetrate the De-Icing market and deliver high quality training products to both the military and civilian aviation in the future"."

RNS - good to see SIM win another contract with the US Air Force:


At $560,000 over 28 months it's reasonably if not particularly material, but the importance lies with:

- the USAF evidently retain confidence in SIM in awarding further contracts
- this win is for support services, which provide annual recurring income to lessen SIM's former reliance on lumpy contract wins
- in particular there's a strong hint of more to come:

"We expect this Contract to generate further CLS opportunities with the USAF and other Government customers in the future."


To precisely what end? It's clear that's there's a systemic transfer of ownership going on here whilst Ami has also taken approaching $5m in salary and benefits from the company. The background of the NED's give me no confidence in the upholding of corporate governance.

The company states it has circa $8M cash yet when it's profitability drops it slashes the dividend after announcing a modest share buyback program that still hasn't been implemented nearly 12 months after being announced.

On an operational level they appear unable meet customers demands, their products don't seem to have evolved from those listed in the admission document 11 years ago. They appear fortunate that their SIMIBOX product was designed into Lockheed Martin military training CBT which lead to early sales on the back of their partners efforts but any of their own stand alone simulation efforts has resulted in dismal failure and a argument with the auditors over revenue recognition at the year end.

The cash balance makes the company appear an absolute steal on all value based metrics but it's my view the companies behavior over a number of years means that shareholders will not ever get their hands on the cash.

I hope I'm wrong and you guys get out of it with a decent profit but I personally believe at best it's a value trap.

Disclosure: Whilst I've never been invested here, my former career prior to investing full time was in flight simulation. Hence the interest in SIM.

I really don't know where to start here (this is a note I compiled in November 17 regarding Ami Vizer's renumeration)

The company floated in 2006 at 88p with approx 37m shares so a market cap of about £32.5m and revenue of $7.5m (2006). At that time Ami Vizer the CEO owned 1.6m shares (4.3%).

In the 11 full years since the float the company has averaged turn over of $6.4m and it has shown no real growth trajectory and has a current Mk Cap of £9.5m

Ami Vizer during that period has been paid approx $500k per annum or over 8% of turnover! He clearly works very hard, every year the company pays him additional salary to work through his holidays!

During this period of no growth the company shares in issue have gone from 37m to 51.5m of which nearly 10m have been given to Ami Vizer in options so at the last count he owned 11.4m shares or 22.1% of the company.

I find that absolutely scandalous pay and awarding of options for monumental under performance over an extended period of time.

I made an unlucky addition to my holding yesterday at 18.7p but have still not reached the target I had in mind. It looks as if I will have little difficulty in doing so.
As with the ill-fated Carillion we see here (on a much smaller scale) the importance of satisfying customers and getting them to pay up on time. Luckily SIM has an ample cash reserve.

Agreed Rivaldo - Technology looks really good, along with the customer base and order backlog. Hopefully short-term issues will resolve themselves, albeit I guess 2018 will be a pivotal year.

As management say, they need to win more new business, especially outside of defence - such as simulation/VR training applications for non-military corporates (civil aerospace, automotive, transportation, medical, etc).

Additionally, there must be a point in time when the founder/CEO decides enough-is-enough - recognising that perhaps the company doesn't have sufficient scale or sales resource to maximise the opportunity during this land grab phase.

Ho hum. Today's update shows the anticipated loss together with the usual contract issues which SIM appear to make a regular occurrence.

There may still be a big upside to the 2017 results if client and auditors agree to revenue/profit allocations, but I'm not holding my breath.

However....the m/cap at 16p is now £8.2m, whilst SIM have over $7.6m of cash, plus other assets.

And SIM are a reputable business, given their long-term contracts, large order backlog and blue chip clients. Plus they're expanding into areas which have could potentially be extremely lucrative.

So I will give SIM the benefit of the doubt and continue with my relatively small holding ready to top up at hopefully the right time.

Cheers BG. I feel the same as Daz - there's a good core business here, but the upside potential given SIM's notable influence in one of the leading geographies of technology in the world brings hope that SIM can indeed grab a slice of what's available.

Encouraging to see today's RNS re the beginning of the buyback programme. Even only just over $100,000 of buybacks would probably have a big effect on the share price since liquidity is usually pretty tight.

Thanks for posting BG.

The growth in VR training is the main reason I'm invested here. If SIM can take even a small part of the projected growth in the article above, the shares will do really well over the next few years.

For anyone interested

Enterprise Virtual Reality Training Services to Generate US$6.3 billion in 2022
Nov. 21, 2017, 09:00 AM
OYSTER BAY, N.Y., Nov. 21, 2017 /PRNewswire/ -- Virtual Reality Systems are increasingly being tapped by enterprises due to their ability to provide immersive training environments, accurately simulate dangerous situations, and avoid costly travel and equipment-related expenses. In many cases, consumer-centric Virtual Reality (VR) headsets, controllers, and tracking systems can be used with few modifications. ABI Research, a leader in emerging technology intelligence, forecasts that the enterprise VR training market will generate US$216 million in 2018 and grow to US$6.3 billion in 2022.
Industries with high-risk working environments such as energy, industrial and manufacturing or construction are the early adopters of enterprise VR training applications. Technician trainings in industries such as the energy sector can be perilous, mainly due to the nature of the job where technicians work on offshore rigs, or in the utility sector where technicians work with power distribution systems. "In heavy industries, VR training prevents risks associated with training hazards such as safety of trainees in the dangerous work place or accidental damage of equipment. It can save time and money for the companies by providing realistic hands on experience to trainees without any work downtime," says Khin Sandi Lynn, industry analyst at ABI Research.
Aviation and Maritime are other, more well-known, areas that also use virtual reality training programs for simulated training. Virtual reality can also provide immersive experiences which has an important role in keeping trainees, across all industries, engaged in their training. Companies which deploy VR based training programs have experienced a time savings up to 80%. The effectiveness of VR based training is recognized by retail and marketing businesses, too. "In fact, one of the world's largest retailers, Walmart, has deployed VR technology to train its staff. Walmart is planning to deploy the technology in its 200 training centers by the end of 2017," adds Lynn.
Although VR training applications are still at the early stage of deployments, they have strong potential in the entire enterprise training space; tourism, sales and marketing, and athlete training are just some of the segments where VR training applications will expand. ABI Research expects that the enterprise VR training market will grow concurrently with the continued advancements in VR headsets, controllers, motion trackers and associated software applications. ABI Research forecast that enterprise VR training market will grow at CAGR 140% in the next five years to generate $6.3 billion.
These findings are from ABI Research's VR in Enterprise Trainingreport. This report is part of the company's Video, VR & OTT research service, which includes research, data, and analyst insights.

Riv, it was on the 26th Sep at Beaufort, following the release of the interim's.

There wasn't so much said that was new and most of the information was covered in the interim report.
There was a summary of the verticals that SIM are targeting, an explanation of the transition to recurring revenues and as mentioned above the investment in R & D
As expected, there were several questions about the reasons for the delays in the Israeli contract and a number on how the buy back would work - which was as a buyer of last resort.

Chat Pages: 90  89  88  87  86  85  84  83  82  81  80  79  Older
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20230205 17:39:48