Surface Transforms Share Discussion Threads

[toffeeman] 01/5/2024 17:52

Ha 1p it is!

[eezymunny] 01/5/2024 17:40

www.voxmarkets.co.uk/rns/announcement/3ddf38a8-fcd0-4718-82a1-1b790496c5b2/

Another firm rogering.

Never forget the old expression - "show me the money". Profits and cash generation. A few mugs and rampers on here getting what they deserve again IMO....

[fevertreeman] 01/5/2024 14:06

Bones, you are correct. Johnson's time as CEO is up - he has to step down and move to a new role w/i the company. All s/holders incl NEDs have been skinned alive by the fundamental incompetence of Bundred and Johnson. Ironically, the person who hasn't is Kevin J himself as he has refused to commit any real cash behind the company - his pathetic dip in pocket at the raise should have been a warning.

And its not only s/holders who are fed up, but clearly the OEMs will be not happy with the circus act that they have seen unfold in last 24 months. having supported the company with a bulging order book, they will also be demanding changes behind the scene.

[bones] 01/5/2024 13:30

I agree with fillspectre that, if they are going cap in hand back to investors so soon after the “unscheduled” 10p raise in November, a price needs exacting from the board responsible for this shambles. It seems inconceivable that the CEO in particular will just “carry on regardless” without concessions to investors. Perhaps the inside investors can insist the directors commit to seek external partners from industry to help run the business as a price for a further fund raise. Johnson in particular has to pay a price somewhere and the most obvious is to move him downstairs and get a strategically-minded CEO in place pronto.

[fillspectre] 01/5/2024 13:00

I guess at the moment no-one - not even the general employees know what is going on. Possibly only the board knows what is going on. I can't believe any of the shareholders pre-March 2024 are happy so if (most definitely an if from me as I know nothing at all) any have
been taken inside they must be insisting changes have to be made to start reversing the disastrous fall in share price of the last eighteen months. I would like to know the quantum of working capital requirements and the amount of sales presently needed to break even. Meanwhile I may as well sit on my hands as 3p a share is almost equivalent to zero for me. Fils.

[amanitaangelicus] 30/4/2024 14:34

No ...oops

[amanitaangelicus] 30/4/2024 14:34

Know love from ii.s here now. Nobody even willing to take a punt. Will either be bought out or suspended, whilst a deal is reached. Still sounds too good to be true - that order book! That low mkt cap! Way to disconnected. I smell a big rat.

[yasx] 30/4/2024 11:53

Plenty of shares still available at below 2.9p. I really thought the announcement was not as bad as the m/c suggests, but perhaps the funding issue is more of a concern than I assume it to be.

Have bought a few more this week.

Time will tell.

[bones] 29/4/2024 15:07

That said, if, as Amaniwhatsit says, some investors are inside, then I hope they are giving the management hell and extracting changes in attitude and maybe personnel.

That’s all….

[bones] 29/4/2024 14:36

This is like listening to someone describe in detail the darkening of the skies as evening progresses…230;……every night and every week. At first there’s some points of note but eventually it becomes repetitive and unoriginal.

It’s bad enough having to wait for the next episode unfold but I certainly don’t need to write and publish my thoughts every day. Just saying, like.

[amanitaangelicus] 29/4/2024 13:25

Pinkfoot has been been taken in, chewed up and now is trying to make up losses. Most on here are heavily underwater. Why/ how? Bias confirmation got em. Ken Fischer knows the questions to ask. Read.

[premium beeks] 29/4/2024 07:28

Yes, and let's not forget the last announcement was to outline "worst case scenarios". The expectation is that it will be better than this so we have a baseline to work to.Whilst not good enough yet, that baseline isn't a company that is bust. The teeth gnashing on here essentially from those who hold higher up and who need to understand that cash and elevated share price is gone for good.A reminder that even a doubling of the share base here to provide cash tomorrow stuff out would likely have us up at a 10p share price.

[bagpuss67] 28/4/2024 09:45

Still think that trying to agree an ID line and announcing that and then doing a book build is the way to go. But the ID line needs Liverpool to carve out some senior security. There is also the British Business bank working capital loans.

But again all this is dependent on April manufacturing having improved or worst case stabilised and not falling too far behind on the revised delivery schedules

[premium beeks] 28/4/2024 08:26

So much speculation. You takes your money and takes your punt.There's an outside chance the corporate side goes under but just as likely a Brembo or another OEM takes a % stake and also introduces expertise to get the issues sorted.Either way it's an interesting ride. As I say a 3p downside and multiple upside. Even a 75% dilution down here is goinf to give a decent upside for holders at this price.

[bagpuss67] 28/4/2024 07:59

Yep. What a shambles. Some on here (including me) were invested in Trackwise which suffered from incompetent management and a failure to scale up. That business was eventually acquired out of administration be Amphenol a huge US group in the same market. I invested in the rescue placing there which was a mistake as I lost it all and now it's going to be very difficult here to decide what to do. The facts are different (this has a much better quality order book) but still going to be a difficult decision. Of course a different matter if you sold at higher levels through nouse or better information being available to you

[bagpuss67] 27/4/2024 10:05

Morning all. Getting to the sharp end of things now. Not sure they will have had a more important months manufacturing than this April. No doubt many discussions/negotiations need to be underpinned by manufacturing improvents and hitting the revised delivery schedules.

[geko5trade] 26/4/2024 19:07

amt, Yep it really is extraordinary!

[amt] 26/4/2024 19:03

The problem is though Premium that if they want to raise cash now existing shareholders will be wiped out and it will be like starting again.

[premium beeks] 26/4/2024 18:10

amt - plenty of examples of the market pricing things incorrectly. Herd mentality, overreactions to events, oversold and no buyers can all translate in to a share price over or under the true value. It's certainly what makes a market and can be used to make (or lose!) a lot of cash.

[supernumerary] 26/4/2024 18:08

That and a total absence of any sort of IR or PR activity. Even in the car world I doubt that many people are aware of the existence of ST let alone its merits as an investment.

[amt] 26/4/2024 17:44

Amazing that a company with net assets of about 25m, no debt, a 400m order book at 60% margin, access to 11m of cash to double capacity, investment of 70m into a first class product over ten years which the biggest automotive companies in the World want, predicted turnover of over 100m in 4 years with 40m of profits is now valued at 7m !!
It could only be that the market now believes that its impossible to scale up production to be commercially viable.