Syqic Share Discussion Threads

[daz] 21/11/2014 17:01

Adam,

The Allenby note, estimates a 99k revenue contribution from Maaduu but 160k in total costs for 2014. I think though they have not factored in launch costs for Indonesia and there maybe other one-off costs.

FWIW, I think your revenue & EPS estimate looks about right but the latter is harder to gauge because of the one-off costs.

[adamb1978] 16/11/2014 17:58

In total I therefore have about £11m revneues and 8p EPS for this year. Views?

[adamb1978] 16/11/2014 17:57

Just revisiting the numbers for SYQ to decide whether to top up. What are people expecting the P&L impact of Maaduu to be this year? They're obviously in the process of re-launching the service so I was going to assume 0 revenues and gross profit in my figures and then the £28k per month fixed costs which they referred to in the announcement of the deal. I therefore should be erring on the conservative side - anyone have a view?
Thanks

[daz] 11/11/2014 11:43

I bought in yesterday and was able to get them inside the spread, at around 56p. It looks like there is a line of stock available but they did mark up the offer after my buying, so perhaps there is not much left.

If you're looking to buy more, then watch for a few sells to appear and then you have a good chance of getting them inside the spread.

[eric76] 17/10/2014 16:22

had a small top up this afternoon too, hoping that the markets have finished with the tanking for a while if so agree with mikeja this is a stupidly underpriced share.

[geraldus] 17/10/2014 16:19

Hoping for a good bounce here now,especially after a top up this week.

[masurenguy] 16/10/2014 08:20

Interesting rambutan - could augur target interest for SyQic in due course too from this comment extracted from your linked article.

"SoftBank has recently been linked with an audacious bid to buy DreamWorks for $3.8 billion. There’s no doubt that Nikesh Arora, the former Google exec who recently joined the Japanese telecom giant, has big plans for the newly formed SoftBank Internet and Media business unit that he is heading up. DramaFever is an interesting addition, but it seems that we can expect SoftBank to go after more established, household names, too."

[rambutan2] 16/10/2014 01:53

Noticed that Softbank bought DramaFever on tues. Its success flogging Korean tv content ott made me think of SYQ, albeit very loosely...

[mikeja] 15/10/2014 07:45

This is the most stupidly underpriced share on the market,probably selling on a p/e of 2 for 2016 when revenues should be approaching £2m per month and almost 50% of that dropping into the bottom line.there are plenty of high tech stocks unlikely to make a profit for years selling at many multiples of SYQ's market cap.The bottom line is eventually it is eps that determine the share price.

[mikeja] 13/10/2014 07:39

SYQ mentioned that its Korean content was not very up to date.This should kick revenues forward substantially.

[pj 1] 10/10/2014 19:04

on my w/l but like many stocks i'm seeing lower highs and lower lows...just

[mikeja] 10/10/2014 18:55

Outstanding buying opportunity,shame about the spread

[adamb1978] 10/10/2014 15:21

Yump,
I think the main thing which would send the market up is simply some good news out of CHina. We've been used to the Eurozone looking awful and it hasnt stopped markets being strong over the last few years. Similarly there's always wars going on so nothing new there. If the US and China are both performing at least 'OK' then the rest becomes more of a distraction

I do agree with your last comment though

[yump] 10/10/2014 09:02

Been eyeing these up as well while watching the 250 index to see if it looks likely to go to 14,000 and the FTSE to 6000, although the small caps. seem to have been hit in advance, 'just in case', which seems to be throwing up some potential bargains. Assuming the whole market doesn't go long-term bear.

Difficult to see what can send the overall market up at the moment though.

Perhaps its a case of just buying what seems to be good value and then shutting your eyes...

[masurenguy] 10/10/2014 08:56

Possibly but the small cap market in the UK has been very weak this year and currently all major markets are seeing a bit of a correction, which tends to hit smaller caps harder than blue chips.

[eric76] 10/10/2014 08:53

More likely to be the shaky aim market imo..

free stock charts from uk.advfn.com

[androyd] 10/10/2014 08:46

Is it the shaky Asian markets impacting on this?

[androyd] 10/10/2014 08:29

There may be an opportunity to buy these under the recent placing price soon!

[masurenguy] 02/10/2014 10:54

Cheers mikeja - I'm actually averaged in at ETO at around 80p so it's a four bagger for me at the moment. I originally invested in SYQ during August and am currently averaged in @54p although that will increase as I expect to add further in due course. I too would be very happy with a 7x uplift in the current shareprice over the next 5 years but I would not be too disappointed at a 4x figure either. :-)

[mikeja] 02/10/2014 10:41

Masurenguy,congrats on your ETO investment,I have been in these via Marwyn Investment though came out a couple of months ago.As I remember ETO have multiplied 7x over the past five years,I think SYQ are in the same position as ETO were then.Taking a five year view I would not be too disappointed in 7x.

[red_shed2000] 02/10/2014 10:29

Found this share whilst researching last night. Spent a few hours delving deeper and really like what I see...so much so I have picked up just over 7K's worth this morning in 2 trades which is a lot for me!!

The RNS was fantastic but it was the revenue for July and Aug that really caught my eye, this suggests fantastic growth as has already been stated in previous (very good) posts.

Good luck to all.

[masurenguy] 02/10/2014 08:49

Mikeja, I'm very familiar with the ongoing profit potential and recurring income stream from content since Entertainment One (ETO) is one of my largest investments. They migrated from AIM to a full listing 4 years ago and currently, as a dividend paying component of the FTSE 250, they trade on a PER of circa 13. They are also listed in Toronto.

The value of the ETO content library - circa £400m - also constitutes around 43% of its market cap. Obviously the structure and finances of ETO and SYQ are very different with the former being a much more diversified business than the latter, so they are not directly comparable in many other ways apart from size and market listing/position.

I have a position in SYQ and therefore both anticipate and hope that they will do well. However I also try to be a realist in terms of valuation and there are a number of factors, including sector, market position, financial strength, management credibility, momentum and sentiment that also have an impact upon this. AIM is lightly regulated and a much higher risk marketplace and those two factors alone tend to depress potential valuation metrics. Don't get me wrong, a number of small AIM acorns grow into FTSE tall trees but it is a dynamic process that can be rocky at times.

As a result of the above, I have a much more temperate view of potential forward valuations than eric76, you and perhaps some others might have but that does not detract in anyway from my positive outlook on the future potential here.

[mikeja] 02/10/2014 07:34

Masurenguy,I take your point about the SYQ rating however I think it fails to take into account the enormous growth potential available.The key to this is content,it is like an online retailer with the most fashionable clothes which are provided by the acquisition of Maaduu.It will also bring a large number of new subscribers.Some 50% of revenues drop straight into the bottom line which is a huge margin.Even ignoring the potential advertising market The growth trajectory could be very steep for the next three or four years.
Allenby are forecasting cash at year end 2015 of £5m so the enterprise value would be around £11m-even on a p/e of 12 a price of 200p enterprise value would be good value.

[masurenguy] 30/9/2014 14:24

I think that a PER of 15 is far to racy for a small, albeit growing, AIM company with most of its business concentrated in Asia. However, even a more modest ratio of 8 to 10 would still indicate a potential shareprice in the range of 116p - 145p if the Allenby eps forecast for 2015 is viewed as credible and is also subsequently achieved. That still provides a very attractive upside of 90% - 135% from here.