Utilitywise Share Discussion Threads

[bennywin] 28/11/2017 14:08

Possible reasons for consistent rise over last few days.


Government unveils new #IndustrialStrategy with smart energy systems one of its priority areas …


or...the audit has shown all is ok and no more surprises.

[eipgam] 16/11/2017 15:54

Also, the staff will not be best pleased... rumours are that the management encouraged staff to buy in after share price fall in March or thereabouts.

I'm not a holder except through Woodfords fund

No verification available, it's just a bar and beer story

[larva] 16/11/2017 11:08

Placing to fix the black hole of calcutta in the accounts

[masurenguy] 16/11/2017 10:56

The ATL close was 47p last month - is this heading back there again ?
No position

[karadas09] 15/11/2017 19:28

This is by far the worst stock I have ever owned in terms of paper losses. Luckily it was also a very small position, now only worth around £250, so it's worth staying on board for the odd entertaining RNS. In all seriousness though I hate losing money and some harsh lessons learned in terms of talking a punt on a company with aggressive accounting policies. It's clear to me now that the record keeping and compliance at UTW has been shocking

Despite all that I can't help feeling that ultimately the future order book and the repeat business is worth something and there is value to be had for the brave.

[topvest] 15/11/2017 17:59

Another Woodford success story!

[wolfhound1] 15/11/2017 16:49

IMHO as auditors work their way through some convoluted "policies that don't match reality" they have told management it wont wash and there is now a stand off on "revenue recognition" - I can't see any new auditors coming in willing to go out on a limb for management - I suspect more delays and write downs of "recognised revenues".

Is there a rule that if you over run reporting date by a set amount your shares get suspended ?

[freddie ferret] 15/11/2017 15:50

Maybe it is just how you read the regulations?

[jsforum] 15/11/2017 15:18

I think it sounds sensible after the debacle that caused the sharp drop in the first place. Before giving the company a clean bill of health let's take a second, independent opinion. My only gripe is why this wasn't preempted by senior management They really need to show better leadership or jog on

[freddie ferret] 15/11/2017 14:18

Quite a few going through today, buys and sells balenced.

[freddie ferret] 15/11/2017 14:16

This is getting very funny.
The RNS is worthwhile reading and considering.
The question is why does the external auditor feel it needs to call in another firm of accountants?

This strikes me as sounding like the auditors feel they are not up to the job or that there is a genuine question mark in their minds as to how to interpret things.

From the RNS.

"As part of its audit procedures, the Group's external auditor, BDO LLP, has now requested that the Group obtains additional advice from an independent accounting firm in respect of the Group's estimation methodology for expected consumption levels on live contracts. As a result of this request, the Board has now appointed a third-party accounting firm to carry out that additional review. It is anticipated that the additional review will conclude in early December 2017."

[opodio] 15/11/2017 12:14

breach of bank covenants
]
debt for equyity swap

with a placing at 10p

[nick rubens] 15/11/2017 12:09

I reckon a placing will follow suit, always happens with new management, with an optimistic statement to accompany it. The past is the past, we look forward to.. etc.

[wolfhound1] 15/11/2017 10:41

Ouch , Audits must have real concerns - reading between the lines they are saying we dont believe you and we will qualify audit of accounts if you persist !!

I fear a massive restatement coming.

[salpara111] 15/11/2017 09:59

They are working out how to apply as much lipstick on the pig as possible.

[larva] 15/11/2017 09:02

Will go bump in the night

Fund raising at 20p i suspect may be on the cards

[mmc71] 15/11/2017 08:57

Hardly a surprise given this company's history of misleading the market... How anyone can maintain an investment in this company is beyond me. It's rotten to the core.

[tsmith2] 15/11/2017 08:45

Uninvestable pro tem

[cockerhoop] 15/11/2017 08:01

Doesn't take a genius to guess which way that'll go with UTW's appalling history of aggressive revenue recognition.

[owenga] 15/11/2017 07:55

Clearly an income recognition dispute between auditors and company, so requiring another firm of auditors to come in and opine.

[bigbigdave] 15/11/2017 07:32

oh dear....

[opodio] 10/11/2017 20:16

30p

Comiserrations folks