Time Finance Share Discussion Threads

[sharethelovearound] 14/4/2009 11:04

gekko - well that explains your postings.....a fall in the price would allow you to get in at the level you are comfortable at. Thanks for being so honest about your motivations. PS raising the money does not automatically signal a worsening of their conditions - the placing price was well above the prevailing price at the time and they may have just been playing safe in case the price fell further.

[gogoneko] 14/4/2009 10:29

No, for reasons already explained; principally that the company is loss-making and has yet to show quantifiable orders to indicate improvement.

If they really did need to raise the £437k last month then that would represent worsening operating conditions because based on interims numbers (i.e. £600k half-yearly losses) they would have had available over £550k cash at end-March.

If the prelims aren't covered in red, or if the trials go very well, or some quantifiable orders arrive, then I'll be interested. Until such time I won't pay more than 1.25p-1.5p for valuation reasons because based on current performance they're not worth that much.

[monkeywrench] 14/4/2009 09:38

gogoneko, are you long on TIME ?
I am.

[59david] 14/4/2009 08:30

gorgonzola

c91nfy is absolutely right in that the joint CEOs have had large stakes from the outset and therefore have suffered along with aeveryone else when they have had to raise additional money. Reality is that for a small company like with this with huge potential but very little now it is incredibly difficult to raise money in the current market. My guess is that the timing of the exercise of the put option was driven by the compnay's need for cash. My recollection is that they couldn't exercise it in part and therefore they will have had to decide what the optimium time for the compnay was to exercise it - putting the welfare of the compnay before that of themselves as shareholders is what we pay them for and those people that were shareholders when they originally did the deal I think thought it was a good deal at the time. Having a significant shareholder that has put in substantial amounts of cash must be good news as it should make it easier to raise more money in the future if they need to (as he is unlikley to be keen to walk away from his investment).

Finally, I have known one of the CEOs for some years now and believe that he is completely straight - I do not know the other but would be very surprised if he was also not completely striaght. Compared to the management at some AIM companies I think we are well off here.

[c91nfy] 14/4/2009 00:16

gorgonzola -

The placing was at a premium of (I think) about 20% to the prevailing share price on the date it was done. WHich only looks bad with your special hindsight goggles on.

I also think that if you stop and think for a moment you will see that the subsequent 200% increase in the share price from the recent bid price of about 0.55p dwarfes the extra bit of dilution that we suffered as a result of the placing at the lower price. Is your holding worth more now than it was before the placing? Mine is - about 200% more........ and that's all I care about. I trade for profit not for percentage stakes in a business.

And for what its worth I hope they now raise some more working capital to make this exciting business worth even more in the long term.

[gogoneko] 13/4/2009 22:54

How on earth can you say those announcements are fairly innocuous? "New Product Launch and NHS order"! "New partnership to sell into NHS"! Take a look at a definition of innocuous, look at recent trades, and explain how you don't expect the prospect of selling Timestrip into the NHS to have any effect on the share price.

Once you've done that, look at the share price graph. The exercise price was 0.825p resulting in practically the maximum possible dilution for existing investors, and maximum shareholding for GP - there's no assumption or hindsight whatsoever in that. As such, how on earth could that have represented the "best price", except for one person? The only justification for exercising when they did would be if they needed the cash - maybe that's good (e.g. production to meet increased demand) or bad (e.g. operations losing too much money).

Finally, there is no way you could successfully argue that directors don't know what they're going to do two weeks ahead. Are you really suggesting the directors don't make business plans further than two weeks ahead?

From the arguments you're providing it looks like you have no intention of suspecting the people behind the company. Maybe I have read the situation wrong, but this is AIM and this is how "business" is frequently done.

[sharethelovearound] 13/4/2009 21:40

gonko - you are making quite a few assumptions. (1) Platts had no say in when the option was exercised. (2) he has not sold any of the shares so any profit is on paper only, and the other half of his investment from last summer is in the red still. (3) the 200% rise in the share price was hardly forseeable on the back of a couple of fairly innocuous announcements, especially in these times (it is not exactly a bull market) which means that at worst you can say that the decision to call in the option was badly timed (with hindsight). (4) the JOint CEO's were diluted just like you and me so they had no motivation to do anything other than raise the money at what they saw as the best price. Calling the right price in this market is almost impossible as any investor on this board will doubtless agree with, except if you use hindsight like you are doing.

I have followed this for a long time and I have seen nothing in the past or present to suggest that the people behind this company are remotely suspect in the way they do things.

Hindsight doesn't make you smart.

[gogoneko] 11/4/2009 21:18

Having read your comment I accept my earlier post should have been worded differently, however my observations relates to the conduct of directors.

What I'm trying to stress is that it's disappointing that at this point they appear to have chosen to act in a manner which has resulted in maximum damage to existing shareholders. The options were from Jan 1st 2009 for two years, and they chose a few days before issuing three RNSs. Hmm!

[paul augustus] 11/4/2009 19:28

It was Time's call as to when the PUT options were exercised, not Mr Platts.

[gogoneko] 11/4/2009 13:24

westcoastrich,

I haven't followed the company for long, but the company's recently shown some questionable practices when raising money. It seems that recently appointed NED Graham Platts has shown a canny foresight in exercising all of his available 2-yr put option within days of three quite significant company announcements in a fortnight which results in a noticeable share price movement.

[westcoastrich] 11/4/2009 12:18

running out of cash fast


rights issue to some plebby institutional investors soon

[gavios] 11/4/2009 12:11

My better half is an Intensive Care Nurse, after reading the 2 latest RNS she says this could be an incredible device to aid in infection prevention and says she can see no reason why the NHS wont make this a must for every hospital if trials go aswell as expected...

[boxedbra] 11/4/2009 10:58

Sijack

Good post.

Must agree its the transparency of this product that works in the patients favour.

It's an in your face indicator, involves the medical staff, patient and importantly visitors (family members) who will feel more confident with the ongoing care plan.

SP should go north when other hospitals take it up post trial.

Brgds

[sijack] 09/4/2009 09:45

Opportunistic buy and sales are going to affect this short term. Give it 3 weeks and another couple of news releases and stability on the price may return with investors looking at a longer game. For what its worth, the NHS works on a snowball effect more than most markets, and this is a me-too product. To hit targets hospitals need to show progressive actions to support patient care, this hits the mark in so many areas especially "engaging patients in their own care" that it has more that a good chance of succeeding.

[gogoneko] 08/4/2009 18:34

monkeywrench,

I encourage different opinions, but forthright unqualified dismissals don't help much! ;)

You're right, I may be overcautious, but we've all seen AIM companies go under despite seemingly having the right product for a big marketplace. It's only those who convert the fanfared trials into revenues which prosper long-term.

[59david] 08/4/2009 15:03

Agree on gravity. Would be surprised if more hospitals (at least in the UK) come on board before the end of the trial (although I hope I'm wrong on this)

[sharethelovearound] 08/4/2009 14:53

i think we must expect laws of gravity to come into play at some stage? Although more hospitals coming on board could perpetuate the upward correction to the share price?

[59david] 08/4/2009 14:45

Around lunchtime (can't access details at the moment) there were sales of a couple of 100,000 shares in total which seemed to put the brakes on the upward surge in share price. Nothing particularly material but then I wouldn't expect to see that much

[monkeywrench] 08/4/2009 14:43

gogoneko,
Don't wish to get into a slanging match, BUT ......
I see a very positive position for TIME,
in relation to the latest information and their set up.
'TIME' will tell, who is right/wrong.
Good luck whatever you choose to do.

[sharethelovearound] 08/4/2009 12:30

david - what profit taking? Shares are up 20% and mostly buys?

[gogoneko] 08/4/2009 11:54

monkeywrench,

Wrong in what respect?

[monkeywrench] 08/4/2009 11:51

gogoneko, you have a right to your negative opinions,
even though they are wrong.

[59david] 08/4/2009 11:39

First bit of profit taking - hardly surprising in circumstances given volume of buys over last few days at prices from around 0.8p. Interesting to see whether once this is out of the way the price then continues to rise (or at least stabilises at current level)

[gogoneko] 08/4/2009 11:22

It's also worth keeping in mind the possibility that the trials don't go well and what the obvious consequences will be. This represents an opportunity of expansion into a potentially very lucrative new market so management have really got to get it 100% right first time, and an simple indication of success rate thus far is a glance at the historical share price.

Having said that it seems that investors have already decided that these trials will be a success so well done those who bought recently.

[59david] 08/4/2009 11:08

Beginning to think we might get back to 3p by the end of the week. Makes me feel good about my recent top up at 0.55p