Surface Transforms Share Discussion Threads

[bagpuss67] 09/4/2024 07:12

It is painful but they are getting there. When they do there remains huge upside here. I see this as neutral to the share price at this very lowly level (depending on how bad the cash position is)

[bones698] 09/4/2024 07:08

Bgapuss I predicted that when they burned through 5m in 2 months after the last raise. Shocking set of results relaly and the entire board should be replaced imo

I would don't believe they will hit 23m tbh I don't think it's even close anymore tbh

They have had to go back to customers asking for extensions. How many times do you think that will go down OK and at what point will Customers look elsewhere. Its not a good way to do business imo. Sooner or later the customer will get fed up with delays and go elsewhete because they can't trust this lot to deliver

Anyway rant over, what price these today 6p? Cash raise coming will it be forward sold into?

[fft] 09/4/2024 07:08

Bundred is leaving in 2024. It's at the end of the RNS.. pushed or jumped ?

[bagpuss67] 09/4/2024 07:05

They can keep coming back for more money.. :(.

At least the customer situation is stable, they are making progress and still think the £23m is achievable

[gripfit] 08/4/2024 17:34

They can’t keep coming back asking for money …

[damayhill] 08/4/2024 15:38

Agree bones and it's what I do within my business too, start with a reasonable risk range (which generally doesn't exceed 10% of total revenue) and then narrow it at each quarterly reforecast. I guess the problem at the moment is that would likely offer a range which at the lower end may see the need for a further raise and at the upper end would not.

[bagpuss67] 08/4/2024 15:25

When I say I was told there would be a sales update in early April I forgot to mention that I was told by David Bundred

[bones] 08/4/2024 14:04

They nailed their colours to the mast with a maintained £23M revenue number for 2024, just in early January so they should by now have a better idea of the likely range based on the three months now gone. I also hope they will not be vague.

Really, they should do what the boys at NEXT do. State an estimated range at the year’s outset and narrow it down each quarter as the performance progresses. Simply stating £23M on day 1 is asking for trouble unless they are especially confident they can achieve an excess. They also said the schedules are agreed with the main customers so they have a lot riding on it!

[harrogate] 08/4/2024 14:01

I am sure they specifically stated sometime ago that they would provide quarterly operational updates. That could mean this time combined with results I guess but pretty sure something will be out soon. I still expect (hope for) £4m + revenue.

[damayhill] 08/4/2024 13:57

Really appreciate that perspective, thanks bones. I'd be happy with a set of prelims too, assuming its outlook comments give us a good sense (preferably numerical!) of Q1. I think what wouldn't be particularly acceptable - though they are within their rights to do so - would be to expect shareholders to wait a full 6 months from Jan to July to get any sense of how production/revenue are progressing. But these are their decisions, not mine!

[bones] 08/4/2024 13:43

Preliminary (final) results for calendar year 2023 were issued 17/4/23; for 2022 it was 4/4/23.

Last year a Q1 update was quickly issued on 3/4/23 which was a profit warning so maybe forced to by the nomad? No Q1 update appeared the year before.

Touch wood, the lack of a Q1 update before the prelims (so far) is a decent sign. That could all change tomorrow of course!

I’d sooner just see a set of prelims with its outlook comments in detail. At least we would know a lot more information.

[amanitaangelicus] 08/4/2024 10:25

Psss .Q1 ,need to know. Insits and other insiders first. No major share price jump or interest. Fear the worse. I.ll write the beginning for you of the update:' We are making good progress, but as yet, this hasn t had to impact on ...'blah,blah, blah. There, saved you a wait.

[bagpuss67] 08/4/2024 09:54

I was told that they will be announcing the Q1 sales results in early April and the full Annual statement in mid-April.

[damayhill] 08/4/2024 09:17

It's a really fair challenge mjcrockett. I have been working on the assumption (perhaps false) that they would do so again this year, given the delicacy of the cash position as 2024 evolves and the absolutely essential nature of the ramp up.

Plus, if Q1 is positive, they will presumably wish to let shareholders know. If they don't update on trading, conversely many shareholders may assume it's not news to shout about, which could do damage to the share price. In my view, they are far better off being transparent and allowing shareholders to make decisions based on actual data rather than filling in the gaps themselves for a further three months.

If they are being advised to forego a trading update, I'd say they are being very poorly advised, but that wouldn't be the first time!

[mjcrockett] 08/4/2024 08:55

Has the Company said it will announce a Q1 trading update? I know it did last year but has not always. In the last RNS they said that would issue final results in Mid April.

[damayhill] 08/4/2024 08:34

A bit surprised by no RNS this morning as they must know their Q1 revenues by now. Possibly looking to pair it with a contract announcement. All we can do is wait.

[bones] 05/4/2024 13:43

It’s 5th April. Last day for tax loss sales.

[amanitaangelicus] 05/4/2024 12:18

Clearly, the 13 trade has caused the avalanche. Thank gdness the 666 hasnt bn played yet..or the 7th no in the fib oh nachos series - the cheesy derivative.

[amanitaangelicus] 05/4/2024 11:29

Beware the 13 trade, on a Friday. Wah ha haaaa ... weekend , phew.

[amanitaangelicus] 04/4/2024 08:24

1 trades ...nope. Just kids playing with your mind.

[bomber13] 03/4/2024 19:17

I'm not one for the 1 trade significance , but it was the first trade of the day today , and it was followed by a short 800/- of buys according to ADVFN .

[bagpuss67] 03/4/2024 16:30

Strange that volume didn't move the price more?

[amanitaangelicus] 03/4/2024 14:22

Insiders tipped the wink ? High volume of nowhere? Aim Cowboys alive n kicking in Communist Liverpool.

[gripfit] 03/4/2024 14:00

I double my money !