Surface Transforms Share Discussion Threads

[tomtrudgian] 18/4/2024 15:44

misterd1. I quite agree to your reply to my (unpublished) comment. It was partially about the value of the £2.65m agreed by HMRC in the FY22 audited results. How much more will this deferred tax asset increase in the FY23 audited results?

Corporation tax is up from 19% (22/3) to 25%(23/4). Deferred tax assets are now much more important. Unless, as you rightly say, there are no future taxable profits!

.

[misterd1] 18/4/2024 12:29

Tom - that is a key proviso

No profits, no benefit

And in any event the tax asset will simply reduce or avoid a tax payment rather then proffer any funding per se

[yasx] 18/4/2024 11:36

Kemche

Chuckle chuckle. Such is the lack of credibility attached to the existing management.

[kemche] 18/4/2024 11:08

"Surface Transforms.... resulting in a projected FY 2024 range of £17.5m to £22m sales"

So £16m it is then.

[amanitaangelicus] 18/4/2024 08:22

It.ll be a convertible raise if the local Marxists(+ counterparts) wont support a loan. That.ll see the share price halve. Then it.ll be bought out for peanuts. 50:50 for me now. If only wor leaders could do what they say they.re gonna do. Bit like the Tory and Labour Parties. Lying bar stewards 95% of the time

[yasx] 18/4/2024 08:17

Amt,

I agree it is palpably absurd. The Board needs to change and soon.

Bones - I doubt any bidder will pay, say, 8-10p if they anticipate it is heading for administration. In that case they would simply wait for the latter and pick it up for a paltry sum. The only scenario which enables a bid of up to 10p in the short term is if there was competitive tension between more than one bidder. When a distressed Co. engages in a fsp it is usually because they are out of options not calling the shots. Be that as it may, given I am long I hope you are right.

[amt] 18/4/2024 07:38

Don't forget they have schedules with customers so they should have very precise forecasts. Acceptable that these might need revision from time to time but this is ridiculous.
Sales is not the same as production so they should have buffer stock to iron out some of the fluctuations.

[bagpuss67] 18/4/2024 07:35

I wonder what IM is doing/thinking. She has come from a well run plc into this shower.

[bagpuss67] 18/4/2024 07:34

Joe. You may be right. But how does that sound. We are in a crisis and we issue numbers we haven't reviewed.

[joe say] 18/4/2024 07:32

Personally I think that they hadn't really reviewed their previous forecasts when quoting £23m and now that they have, have realised that it was probably a stretch too far.

But to me that just adds to my belief that this is one very, very weak management team - that I would like to see go

[bagpuss67] 18/4/2024 07:29

The only way any normal management team would have revised their forecast so quickly after the last announcement was if there was new information ie it's not going well in April. But these are a special case team and who knows..

I've seem some incredible examples of poor stewardship recently. D9 Digital springs to mind. But I genuinely think this team have now claimed the number one spot for 2024 so far.

[amt] 18/4/2024 06:32

Kevin Johnson, CEO said:.... We remain committed to achieving the higher end of this range."

Utterly bizarre that they changed upper number to 22m from 23m

It's almost as if they forgot they quoted 23m a few days earlier.
I cannot understand this at all and it was bound to cause huge damage to the share price when they are so careless about numbers they quote.
It also implies that 23m is now completely impossible even though it was their firm belief they would make that number a week earlier.
It gives the impression that there is no substance behind the numbers they are quoting.
It implies they are quoting numbers that they know are most likely unreachable.
Why is 23m now impossible when capacity in H2 is supposed to be 50m per annum, isn't it?

[amt] 18/4/2024 06:28

17 April 2024
Surface Transforms.... resulting in a projected FY 2024 range of £17.5m to £22m sales

[amt] 18/4/2024 06:27

9 April 2024
Surface Transforms.... and reconfirms unchanged sales guidance of £23m for the 2024 financial year.

[bones698] 18/4/2024 05:52

The thing is 5m won't last them very long going off how quickly they wasted almost 10m in 5 months. When they spent 5m in two months I raised the question but the experts said it wasnt a problem. Funny how they disappear when it goes wrong.

Definitely in a hole here now and getting out of it is going to be costly to shareholders whatever way they try to do it.

Personally they should be looking for a buyer before it's too late you might get 8-10p now if brembo are feeling generous whereas if you leave it to this lot 0p is a very distinct possibility.

[quazie12] 18/4/2024 05:32

Wouldnt they just get the same misinformation and deceptive guff that's been trotted out to us in RNSs. Now the future of the company basically hangs in the balance yet several months ago it was all thumbs up and on track according to this failed management as they are probably plotting to raise at 2.5p.

[bones698] 17/4/2024 20:55

He was on a few days ago but nothing to report. Tbh would u listen to what he has to say anyway now after this disaster and being wide of the mark before?

[elsa7878] 17/4/2024 20:42

amt17 Apr '24 - 18:23 - 9678 of 9679
0 0 0
Havent heard from Pinkfoot for a while.

I should imagine like many he has been diagnosed with footrot and is seeking emergency care.

[amt] 17/4/2024 18:24

Placings seem to come 10 days after updates

[amt] 17/4/2024 18:23

Havent heard from Pinkfoot for a while

[premium beeks] 17/4/2024 17:59

Some previous big holders with inside track also seem to have stopped posting, like have gone back inside.

[bagpuss67] 17/4/2024 17:54

Clearly they are engaged with some shareholders as they seem to have forced them to issue this update today which further crashed the shareprice. Maybe that's OK if you are new money or have sold a big chunk of your existing holding knowing whats coming and having got an inside track on the current situation on site

[bagpuss67] 17/4/2024 17:48

Talk on LSE from Truthfactory that there has been an investor visit. That would be outrageous if some existing shareholders have had that opportunity and not others. Bundred told me there would be no shareholder visits anytime soon. Also that he couldn't comment on manufacturing as it was inside information. Don't tell me that if there was a shareholder visit there was no discussion about the current state of the manufacturing process.

[junglist] 17/4/2024 17:33

Sure you’re correct PB, despite Superthingy suggesting otherwise .
Big problem is getting it away, which is what the share price has been telling all and sundry for days.