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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 2126 to 2150 of 2250 messages
Chat Pages: 90  89  88  87  86  85  84  83  82  81  80  79  Older
DateSubjectAuthorDiscuss
14/11/2019
17:48
Some people might say that if you take a nice fat salary from your businesses, you're insured against creditors, unless you've actually broken the laws for directors eg. trading while insolvent etc. These small business floats are all a bit different from mortgaging your house and potentially losing most of your wealth. But I'm sure they all started from a bedroom originally. Like that's likely.
yump
14/11/2019
17:34
hxxps://www.bizjournals.com/atlanta/news/2019/10/15/florida-airline-files-for-chapter-11-bankruptcy.html

Ami's airline business goes bust with >$6m of debt.

brummy_git
11/11/2019
14:07
Any sign yet with regards to the date of the AGM?

Would be nice if Ami puts himself up to shareholders for election, along with his remuneration package. Would also give a chance for Katie Potts to vote

brummy_git
11/11/2019
13:49
This may seem perverse but I have just bought 50,000 more at 7.25p (being the most recent trade shown).
I take some comfort in Herald Invt Trust being the third biggest shareholder here after Amos Vizir and Jeffrey Braun with about 10%. Its holding, worth about £350,000 is, of course, tiny as a proportion of the fund (say £1,500 million) but Katie Potts, whom I respect, must have seen some merit in the company.
The price graph for this share is deeply depressing but I do not see that SIM's situation is any worse now than it was when the shares stood at 15p. The seemingly inexorable decline in the price may have induced shareholders to sell who could no longer bear the sight of this lose in their portfolios. This is a very natural response and I have sometimes sold shares for this reason myself.
I do not see it as a good one.
On paper the share is extraordinarily cheap with net liquid assets in excess of $6 million against a market cap (at 7.25p)of £3.7m, say $4.7m. On the P&L side there is a reasonable prospect of a return to profits in 2020 and perhaps even a dividend.
That there are good reasons for not holding this share I readily accept.

varies
29/10/2019
10:12
BTW, when is the AGM? Plus, I presume Ami & his $500k+ remuneration package, both need to be voted on this time by the shareholders?
chalkyboard
28/10/2019
19:19
It would be most interesting if Mr Vizer actually decided to hold its AGM in the UK for once, though that is very unlikely.
dgwinterbottom
07/10/2019
13:14
Nice 100,000 share buy at 7.75p.
rivaldo
07/10/2019
06:46
I think it comes down to trust. In fact after 12 similar announcements wrt contact wins over the past year - it says it all that their NOMAD finncap, still hasn't published any financial forecasts for the company.

Amazing too that the larger shareholders haven't yet tried forcing Ami out.

unclesamgw
07/10/2019
06:30
Any ideas wrt the value? Ami has conveniently not mentioned this important bit on all the recent contract wins?
calijoe
07/10/2019
06:09
Another contract win - on a new aircraft, and the "major European customer"s fourth aircraft platform which uses SIM:

Https://www.investegate.co.uk/simigon-limited--sim-/rns/contract-win/201910070700119026O/

rivaldo
03/10/2019
09:22
I agree with you all that AV is grossly overpaid.
varies
02/10/2019
13:09
Good spot Brummy_Git the lease runs for 5 years from November 2016 and was $77k in 2018.
cockerhoop
02/10/2019
13:00
Ami & his family (TWOchi LLP) also apparently lease office space to the company, which chips in with another $75k pa.

Furthermore, I understand he, along with this wife, ran/owned an airline (Via Airlines) for several years too - and (according to the local press) even managed to fit in time to pilot the planes. That is before the company recently went pear-shaped & was sold in Jul'19 - which probably explains why some of his employees (Glassdoor) complained that they hardly ever saw him.

brummy_git
02/10/2019
12:25
Partially correct Varies

On top of his base salary he also received in 2018 $39,165 in lieu of holiday worked (this happen every year despite Glassdoor reports the staff never see him)

He also received $28,721 in respect of severance allocation transfer and $39,165 in health insurance.

A total of $521,463

That's not forgetting the approaching 20% of the company he has gifted himself since the company was floated.

Perhaps he'll take a pay cut now he's employed a COO to actually do his job - but I wouldn't hold your breath.

cockerhoop
02/10/2019
12:01
PS To put the high salaries into perspective :

AV's salary in 2018 was $414,000 and the other directors received $249,000 making total salaries of $663,000.
Revenues came to $5,029,000, cost of revenues to $973,000 and gross profits to $4,056,000.
Deductions of $2,335,000 for R&D, $1,019,000 for selling etc and $1,462,000 for general expenses and admin add up to $4,816,000 leaving an operating loss of $760,000.
The salaries are presumably included in the $1,462,000.

Whilst they strike me as being twice as high as they should be, they do not seem to have gone up much in recent years. I think we could see SIM move into an operating profit this year in spite of them.
I do, however, share the resentment generally expressed here that our directors are doing so much better out of SIM than we are.

varies
02/10/2019
11:50
Thanks Varies - How many end up as being good investments though? Probably not a high percentage?
brummy_git
02/10/2019
11:38
Unfortunately there is nothing exceptional about a controlling shareholder of a small company taking a salary that absorbs most of the profits.
varies
01/10/2019
12:37
Totally agree yump. Given Ami is now both exec Chairman and CEO, surrounded by a very compliant board, then external shareholders are likely to be toast.

Worse still there is no corporate governance either, which is probably why (I suspect) finncap are refusing to write any research. Real shame really, because Simigon could actually be a decent business – and probably a nice investment to boot.

unclesamgw
01/10/2019
11:48
You're being taken for idiots by Simigon guys.
yump
01/10/2019
07:10
No update note or FY19 forecasts from NOMAD finncap again. Something doesn't quite gel here.
brummy_git
01/10/2019
06:21
Nice summary from the respected Techmarketview:

Https://www.techmarketview.com/ukhotviews/archive/2019/09/30/simigon-learning-to-grow

"SimiGon learning to grow

LSE-listed but US / Israeli headquartered, 3D simulation training SaaS provider SimiGon, saw revenue for the first six months of the year increase by 12% to $2.7m (H1 18: $2.4 m). Operating losses declined by 32% to $0.44m (H1 18: $0.65m).

SimiGon was founded by former Israeli Air Force flight instructors and is best known as a provider of its simulation development platform - SIMbox - used by companies to create 3D simulation training applications principally for the defence and aviation markets. SimiGon's client base includes training and simulation systems providers, as well as over 20 air forces, and commercial airlines worldwide.

The defence training market remains core to SimiGon where is supports clients including the United States Air Force (USAF) Air Education and Training Command and Lockheed Martin's UK Military Flight Training System. During the first six months of the year it added an additional $850k of contracts with key European customers, signed an agreement with the U.S. Department of Defense Enterprise Software Initiative and added a $1.4m 12-month contract with the USAF to support Flight Training.

As we are seeing from our latest TechMarketView Innovation Partner Programme, learning technologies is a very vibrant place to be at the moment. Expanding beyond defence into civilian and commercial markets where Millennials and Generation Z users demand a more immersive learning experience could offer SimiGon huge potential.

SimiGon has a great client list that should lay a foundation for future growth and a return to profitability. The challenge now is making this happen. Post Period activity with half a dozen or so contracts with the USAF already announced look like a very positive start."

rivaldo
30/9/2019
16:55
Rivaldo,
Thanks.
I find the shares very attractive but am inhibited from buying more by the risk that the directors will take them off AIM.
This happens with increasing frequency.
I was very lucky with Silanis where I kept my shares after the company left AIM and was eventually bought out at an excellent price but I have had unhappy experiences too.
With all these AIM stocks, especially those whose business is mainly conducted outside the UK, we small shareholders are always at the mercy of the directors.

varies
30/9/2019
11:36
Cheers varies. It's certainly nicely prudent to write off all that R&D - if it does pay off then future profits will benefit rather nicely.

Whilst you could make an allowance for the current, relatively small losses being largely due to those prudent R&D write-offs, it's also fair to say that the this H1 benefited from the reduction in the doubtful debt provision.

I do believe that as part of a wider portfolio SIM is worthwhile for its potential over time - especially given that at present levels it's m/cap is below its cash. The reservations about CEO pay etc would stop me making it a larger part of my portfolio, unless and until it was obvious that the R&D, entry into VR/AR and civilian markets etc were about to really pay off.

rivaldo
30/9/2019
09:38
Rivaldo
Thank you for your analysis of the half-year figures.
All I would add is that SIM continues to spend c40% of its revenues on R&D charged to the P&L account. This is an exceptionally high proportion and dwarves the high administration expenses much of which consist of salaries paid to the directors.
The distinction between R&D and other expenses in a software development company like SIM must be rather arbitrary but I take comfort in seeing all this R&D set against profits. In many cases much of it is added to capital and then amortised later.

varies
30/9/2019
08:35
Probably worth putting a big bet on somewhere against that happening. It would be a profitable hedge.

fwiw it took me quite a few years and some painful losses of capital to realise that AIM UK businesses are risky, but anything from overseas is a recipe for losing your shirt.

In fact, I had a look through the market a while back for anything in $ or any other non-sterling currency to try to find successes. Chinese (not one single success), Australian (1 crook, several fails), US (don't look), Israel (no comment)... the whole lot are a major risk, not the golden opportunity for growth that was and is often presented. No doubt the reason they floated here is always given as AIM is a better opportunity than their own markets to support small growing businesses.

You just have to ask yourself who the better opportunity is actually for.

yump
Chat Pages: 90  89  88  87  86  85  84  83  82  81  80  79  Older
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