Surface Transforms Share Discussion Threads

[pinkfoot2] 09/4/2024 08:47

Well I’ve spoken to Zeus-retail selling and obviously worry about a raise, not very well explained IMO.I think a customer debtor facility would sort-it’s commonplace in automotive.

I’m not concerned looking forward-it’s the short term over next few weeks that need clarity and decisive attention

As for Bundred, just get out of the way

[bagpuss67] 09/4/2024 08:43

Sales are ramping up. Ideal for an ABL or ID line. I think they will do this. There is a question of debt service but hopefully OK.

[damayhill] 09/4/2024 08:41

pinkfoot, that would certainly be a preferential short-term solution. It's frustrating that these are such small amounts of money in the grand scheme of things but they are absolutely pivotal.

[bones698] 09/4/2024 08:39

Delayed reuslts and cash raise looking like the reason for that are the issues near term. Management and bod need to be sorted and then there is still another revenue miss likely later this year. Can't blame anyone for selling out today as it looks like the bad news isn't over. They have burnt through nearly 8-10m in 5 months . That's alarming to say the least. Why would anyone buy now knowing what's likely to come soon and be Vale to buy in cheaper then. That's if you cna find. A reason to buy at all here. I'm finding that very difficult atm

[amt] 09/4/2024 08:35

Perhaps much better than first appeared then.
Seems to be good demand for the shares which is both surprising and encouraging. The Broker notes must have been good.

[bones] 09/4/2024 08:34

I’m an optimist by nature but pretty disappointed with that update. It’s riddled with uncertainties and capped off with a statement that cash is a problem and, like Damay, I don’t like that the audit is taking two months longer than usual.

There are lights shining through the murk without a doubt but the competency of management in being able to manage the messaging and contain the disappointments every quarter is stretching their credibility. Based on what’s been said in the statement, I cannot see how they will do £20M in nine months. Even so, how diluted will shareholders be by the time that is achieved?

Reluctantly, I have decided to sell out and will wait until the audit and the finances are sorted before considering a return.

[bagpuss67] 09/4/2024 08:34

Didn't help they used the loose/colloquial language "sizable"

[evilblues] 09/4/2024 08:24

Fundraise will have to be soon to avoid going concern note in May update. Unless management are cut out like a festering wound this becomes ye another aim snakepit.

[bagpuss67] 09/4/2024 08:22

Zeus note out

[gripfit] 09/4/2024 08:19

It’s a classic case of what not to do with somebody else’s money

[bones698] 09/4/2024 08:18

OK what price the raise and how much for?
10m at 5p looks about as good as they might get in this market. That will keep the share price pinned down here for awhile then there is will they hit 23m or not. You would be a brave person to say they will atm. So where will the share price go then. Plenty of time to watch here as can't see the trend changing anytime soon
Needs a complete shake up of the Bod. Someone with a good track record of sorting out issues and far better cash control

[evilblues] 09/4/2024 08:17

Writing was on wall when CFO left. Terrible management here.

[quazie12] 09/4/2024 08:15

At least you're not defending management this time round

[privileged] 09/4/2024 08:13

£20k loss today :(Sold out just over 1/2 my position getting out of that was hard enough getting quotes. Expect to buy back sub 6p at some point when more confidence in the management

[gripfit] 09/4/2024 08:11

I’m out …what a mess

[bones698] 09/4/2024 08:00

Amt they raised nearly 10m only 5 months ago and now having to raise again. That's some burn rate for a small. Increase in revenue. They will need at least another 10m and I doubt that will be enough to see break even. I maintain they won't hit 23m as I have said for some time. They should have lowered that target in with the rest of the bad news, then at least maybe drawn a line in the sand. Now many expect them to miss that and another profit warning still to come
The really annoying thing is I want to invest but the management here are making a hash of it and I'm not investing in a company so badly run. Until they sort that out I'll stay out of this mess

[bagpuss67] 09/4/2024 07:58

Yep. Results delay potentially GC issue as need to clearly show enough cash for at least 12 months. I don't doubt they can can raise just at what price.

[74tom] 09/4/2024 07:57

Closer and closer to game over here

[sharesure] 09/4/2024 07:56

If the production problems look to be lessening, and with some Board positions vulnerable to change, now looks like the time someone else might take an opportunistic view of owning this outfit.