LaV, as you recognise, some folk only appear when they sense a weakness from which they can profit and try to scare others to unload stock to help lower the share price I've long since had that one filtered as just such a troll. I very much hope he/she gets badly SHORT circuited. I also hope all genuine SRT investors enjoy the weekend and what the future holds. |
Good lord, we have a trader in our midst.
I sincerely hope that 'homeboy' who I suspect of shorting SRT when the share price is already weak and then posting very negatively on here has shat his shorts. If he were remotely clever or confident he would short when the price was high. |
I am dopey but happy :-) |
AE
They have done but on what exactly I don't know. There was the case when they bought the time slot patent to try and screw up Vesper's business, but that is not what I am on about. So if it is GeoVS or the transceivers it makes a difference (or even both).
The scheme itself is fiendish (was it G Brown?). But the gist is that profits above a normal rate of return, defined as 10%, can be effectively taxed at 10% as opposed to 25% now if they have a patent in that income stream. In SRT's case, the majority of the systems business profits should be protected if it applies to GeoVS. But either Hurd or even their tax advisor might be able to demarcate what profits might be eligible.
Edit: I should have mentioned that SRT themselves have talked about the patent box. |
Interesting idea LaV but do SRT actually take out patents? AFAIK, ST thinks they are a waste of money because they are too expensive to enforce amongst other objections. |
It sounds pretty dopey to me if people bought on what they heard on the webcast. There may have been few traders who got in with charts or whatever, but otherwise there is some pretty scale-changing news in the short-term. What has happened so far to the share price is merely regaining some of the ground lost because of the delays. I expect all of that to be regained once these three start and much higher prices when the Kuwait deal is signed. If, as I have previously maintained, some will cash in their chips at the 60p area due to SRT fatigue, it will be short-lived (and they will live to regret it).
If I do get to the AGM, I will try to collar Hurd to try to fathom how much benefit they can get from the patent box scheme, as it looks likely that they will be making significant profits and of course the mainstream CT rate is now at 25%. |
Eventually the market will wake up. I can understand some PI's selling out now, as the saying goes 'it is never wrong to take a profit' . |
I would say that Thompson will be a bit behind the curve on this unless he listens to the webcasts, as will many others. But what will really grab attention is that after a long wait for $220 million worth of business, along comes almost the same again relatively unexpectedly. When that lands, I expect the broker to adjust upwards from their previous (now suspended) target of £1 to £1.50 or so. Not much point in us guessing what the P&L will be given the lumpiness, but at 30% GM that little lot gives a contribution of £100 million. |
There wasn't an article about SRT in this week's Investors Chronicle, but not surprised as we don't have any RNS's issued yet. |
supernumerary, great stuff, I've learned something today. |
LaVal - interesting article, thanks.
[Just for interest you don't need the at all, it's a now-outdated convention. So I just put the cursor on the line, triple-left-click, which selects the whole line, right-click to get the options menu, then go down to left-click on 'go to thediplomat.com...' and it opens the link in another tab. Sounds complicated but is actually simpler than manually selecting.] |
@LaValmy:
The article concludes
"A well-funded and well-equipped Bakamla is needed to confront Chinese incursions and any other maritime security challenges that might emerge in the future"
I think we can agree with this - and in the view of the article this is the only way to avoid the Indonesian Navy being involved, the consequences of which, are of advantage to the Chinese at the moment. |
thediplomat.com/2024/10/gray-hulls-in-the-gray-zone-indonesias-conundrum-in-the-south-china-sea/
You have to add the
Makes a strong argument. It suggests to me that there is some debate in Indonesia about Bakamla's future. |
Ceremony and a nice lunch all round, hopefully not like the dinner in Indiana Jones ;-) |
I expect there to be some sort of signing ceremony for the Bakamla financing contract, a bit of PR by UKEF at least given the low level of Indo-Pacific business last year. I would be surprised if the Head of Bakamla would miss it, given the scale of the project relative to their budget, and of course ST. It might be worth monitoring Bakamla's twitter account as that was where the initial 'confidential' contract was broadcast. |
AE - no one here to say you neigh........ |
Stop horsing around alter ego. |
We've had allusions to a horse race, Horse meat lasagna and bookies odds so perhaps we need to wait to hear it from the horses mouth to understand what is happening. I just hope we are not flogging a dead horse after all. |
I wonder why Simon Tucker was/is in the Middle East? He's been there a few days now. What are the odds for a RNS tomorrow to take us into the weekend? Or maybe ST has returned home? |
I suspect some of C5's horses would have featured in a Tesco Lasagna long before they reached the finish line, such is the duration of the race. |
C5: have you been at the Sherry? :-) |
 There are six horses running today in the SRT stakes at Midsomer Norton (MSN). It is a sunny day here in Somerset and although there are only a few spectators there is great excitement about the race. Three of the runners come from stables owned by foreign Royal families. It is disappointing that King Charles 111 appears disinterested. The oldest horse comes from Bahrain (BHR), which lacks the oil money of the other two Royals. The house of Saud (Saud)has a very fine stallion which has previously won at this race course. I am tipping the very expensive gelding from Kuwait (KUW). Although it is an eight year old it is showing good form. Our horse from the Indonesian stables (IND) has shown good promise but is regarded in the industry as JT. (jam tomorrow). The other two runners are OEM and DAS, both of which come from stables here in MSN, which looks like a tin hut. These two are financed by PLM's (People like me) from around the world. An interesting feature is that OEM has a female rider called Louise, who is highly regarded within the industry. She has a reputation as a cake baker, but I think this credit is due to others.
As we approach the finishing (starting) line it is neck and neck between the BHR,SAUD, IND, OEM and DAS. However, KUW with the longest odds, had a slow start but is now showing incredible speed as it gallops up on the outside, and contrary to expectations, could be the the eventual winner of this extremely exciting race. It is going to be a photo finish....... |
It would appear that the company has reached an inflection point. It is moving from the growth stage, requiring losses, to the delivery stage of substantial profits. I am hoping that profits from NODE (Nexus, OEM, DAS and Emtrak) can service most of the company overheads. However, these are fast growing due to the increasing payroll required to service the systems contracts. It would be interesting to learn how the company prices contracts with provision for profit / overheads. I liken the company situation today as being similar to the closing furlong of a horse race. The horses are Saudi, Indonesia, Bahrain, Kuwait?, and DAS. They are neck and neck. Which will be the first over the finishing line with a RNS? It could be an outsider making a strong finish! |
C5
I think the debt will be rolled over. As you know the majority of the outstanding is due on 30 November and 14 December. There should be no problem with this, but it will be interesting to see what maturity they do. Twelve months would be very positive, three years much less so. A couple of webcasts ago I got the feeling that they would like to pay it all off. I imagine that they will soon be able to get more conventional financing.
I have no hard data on this but I think that frequently the in-country partner is involved in the procurement of the sensors - the LinkedIn job advert for head of sensors was quite clear about that - and what cash SRT receives on milestones is generally shared 50:50 with them, which strongly suggests that they are bankrolling much of that. When the next broker's note comes out, it should be clear that half of the first payment for Bakamla (£45 million or so) flows to the ICP. But that first payment is for shipping the goods to Bakamla. So the ICP must have provided some of the working capital. They are much more likely than SRT to have some in any case. |
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