Srt Marine Systems Share Discussion Threads

[yumyum] 20/2/2018 23:11

hey homey you seem a bit dum dum

[extrader] 20/2/2018 18:00

Hi goodapple,

Well, your explanation certainly makes more sense....and is consistent with a 'boosterish' CEO. Suggesting he doesn't care if a project comes in or not is hardly likely or plausible.

If you're a hammer , I suppose everything looks like a nail.

ATB

[goodapple] 20/2/2018 17:47

homeboy, I think you misinterpret the CEO's words. I think he's saying it's not a question of "if" the projects come in.

[homeboy] 20/2/2018 17:12

dum dum, the CEO states in the webcast that he's not worried IF the projects dont come in, what part of that don't you understand.

Would have thought an investor would be very bothered if a project doesn't 'come in'. Just thought it worth mentioning.

[jimpubes] 20/2/2018 16:37

Obiterdicta thank you and some good points.

YumYum you imagine that the future will be rosy.
The facts are not looking rosy at the moment.
Great things may indeed happen, or not. But facts on the ground are pretty much what Obiterdicta is saying.

My shares are now worth a fraction of the initial investment. That is a fact. But Tucker is happy so that's all right then.

If I was a newcomer looking at this company as it is now it does not look like a great investment.

Piedro. Instead of attacking persons and name calling; why not try explaining why you think SRT is such a great investment at the moment? Just a thought.

[yumyum] 20/2/2018 16:15

homey....maybe listen AND try and understand ? Both at once is difficult for you ? What implication do you need help with ?

[piedro] 20/2/2018 15:48

WOW!!
The slammers are out in force
As if we didn't already know

[obiterdicta] 20/2/2018 15:35

Correct Philburt - this could spike at any time but I am happy to sit and wait. If I miss the bus, as the saying goes, there will be another one along soon.

OD

[philburt] 20/2/2018 15:13

OD - the danger is, the difference between demonstrated 'momentum' and 'missing the bus' is a thin line....

[homeboy] 20/2/2018 15:05

Worth having a listen to the latest webcast. 20mins in to 20:20mins, the CEO says not very worried about projects "when they'll come in OR 'IF' THEY'LL COME IN".

I'd pay attention to the implication of those words.

[obiterdicta] 20/2/2018 14:50

If I get the opportunity to buy at or below 20p I will do so.

At the moment the Company (and the sp) lacks momentum.

OD

[yumyum] 20/2/2018 14:42

oberdicta, yes, that was indeed a hammer blow. I still think the future looks good though.

AIS is a very interesting space. Can SRT make money out of it? I think so.

[obiterdicta] 20/2/2018 14:33

Hi yumyum - you were predicting a £1.00 by Christmas last June. The hammer blow for the business was the RNS on 31 July 2018.

You may be right that contracts may be announced but it is all a bit "the cheque's in the post."

OD

[yumyum] 20/2/2018 14:21

Fair points, oberdicta, but the growth is in the future not in the past.

homeboy, see above.

Yes, the past may guide you to the future....or it may not. SRT is pretty clear about what they do. If you find that difficult then clearly such an investment is not for you.

Ambitious company. I expect its shareholders will be well rewarded.

It is all much slower than I expected, but I am still expecting SRT to be in a very good position within 6 months (share price-wise).

These big contracts take longer than long. I still think they will roll in, at which point the whole company analysis moves from history to future.

[crystball] 20/2/2018 14:07

Anything could happen.I remain invested with a small stake. The winner of the Phillipines contract should be known sòon and whoever it goes to will get a 15% up front payment. It would keep the lights on a little longer at SRT.

[homeboy] 20/2/2018 13:51

Indeed, this has ceased to be an investment.
Apart from internal R&D milestones being reached and thus SRT being able to say they've 'delivered' some form of expectation, I'm not aware of any investor milestone being achieved. SRT have continually failed to meet any investor prediction, including mandates, core sales, being debt free, project predictions, 200m pipeline over 3 year period, reoccurring revenues.

The company remains high risk with an established track record of disappointment, a typical AIM jam tomorrow stock, their market may not be quite as SRT would have investors believe, or it could be a very slow growth market that keeps the lights on for some AIS manufacturers but is not suitable for PLC investment. SRT would probably be more suited as an addition to a relevant company than a stand alone entity.

Being that they have access to a 10m (2m already drawn down) facility, the risk for a government is moderated, unfortunately for an investor not so. Customers and investors do not share the same agendas. The debt is creeping up as indeed is the cost base, revenues are not matching - hence the debt.
Any project announced will not improve the situation as the payment terms for these governments can typically be a year or longer, if indeed they pay up - queue Indonesia, I expect SRT to dip into the debt pot again, free cash flow could be years away IMO.

Not including the initial founders of SRT, the rest of the working board don't have that much skin in the game and if memory serves me correctly, the CTO sold his wedge some years back - smart fellow.

[obiterdicta] 20/2/2018 13:50

Yumyum - time will tell. The share price does not suggest growth. The chart does not suggest growth. The lack of contract announcements does not suggest growth. The taking on of debt does not suggest FCF. The failure to announce the postponed contract had been restored does not suggest growth etc etc

OD

[yumyum] 20/2/2018 13:39

It is still a growth story.

[obiterdicta] 20/2/2018 13:20

This has ceased to be a growth story. It's a recovery play. I said a while ago that 20p was my buy in price. Between 15p to 20p the share looks to have the upside/downside risk ratio tilted towards the upside. The level of debt is a significant downside risk though.

Needs a big contract fast but any government customer doing DD won't like SRT's balance sheet.

OD

[hjb1] 20/2/2018 10:32

If Tucker is so happy with his company then why has he not bought any shares since 2014, even then they were at mates rates placing price of 18p.
Not daft our Tucker is he?, then again he will be under water with those soon..lol!

[trident5] 19/2/2018 21:30

Cheer up, mate.

[homeboy] 19/2/2018 20:59

These old class A units that they stock piled for the US market, have they shifted them yet or are they still gathering dust on the warehouse shelves??
Having a look at pictures of them and then comparing them to the new class A Apollo, I find it hard to believe they'll manage to sell what is starting to look like dated stock.

"They don't go off, they're not Bananas".
Not entirely accurate. Electronic goods do have sales life spans and especially so when the crowded and still small AIS market keeps bringing out new products, who on earth wants to buy electronic goods from 2 or 3 years ago when the latest equipment is available????

SRT aren't the only game in town, their competitors are continually offering upgraded and renewed equipment.
These will either be bulk discounted to shift them or they'll just continue to gather dust in my opinion. I reckon they'll still be around on the shelf a year from now and the following year, lol

[homeboy] 19/2/2018 20:40

EU Waterways
EU Fisheries
Russia
USA
India
China - cancelled for renegotiation????
Mexico
Indonesia - ?????

It's not gone away, just rolled over. lol
The bacon should've been here by now if it exists.