Visual Defence Share Discussion Threads

[dasein] 14/4/2008 16:48

Cheers Rivaldo,:-)) nothing much to add to the debate alas.
It is an excellent board though,some great posters on it, good for you.


But always nice to see a tinge of blue here :))

[rivaldo] 14/4/2008 15:58

Crikey...is that...it can't be ...it is! Blueeeeee.....

OT : nice post today on GNG Dasein :o))

[dasein] 11/4/2008 10:16

"price is what you pay value is what you get" as JT and Ben Graham would say,been in GNG for ages since you pointed it out back in the mid 20's and have been adding steadily on the dips ever since,and to be honest you are doing such a superb job mentoring the board I haven't had anything much more of substance to add :-)

Meanwhile back at the ranch, I think hugepant post 665 sums this one up nicely

[rivaldo] 10/4/2008 22:46

I didn't realise you were in GNG Dasein - why not post your views over there?! The more quality posters the better, as there seem to be a few who want to talk the price down for their own agenda despite all the evidence. As you say, on a £20m m/cap I can't see anything better around.

[rivaldo] 10/4/2008 11:12

Hi Dasein, a name I respect from the past. Good to see you here.

Nice article - I've seen other reports about the situation in Ivory Coast settling down steadily (though there's also the occasional food riot!). Hopefully some of that $220m of aid will make its way to the airport as well as into senior officials' back pockets.

If the 2007 results are anything like as stated there's no way imho the current share price - trading at net cash - will stay where it is.

[par12] 08/4/2008 10:57

I see SAAB wins a 60 mil contract for Prison surveillance system, so where were VDI so call world leader

[dasein] 07/4/2008 15:49

one was mine, couldn't resist adding a few while it's still nice and quiet.
Normally price drops when I buy... so no change makes a pleasant change :))

WASHINGTON, April 2, 2008 – The World Bank Board of Executive Directors approved a grant for US$308 million to the Republic of Côte d'Ivoire to clear its arrears dating from 2004 to the World Bank Group and provide US$35 million in budget support. This operation paves the way for a strong re-engagement by the World Bank with a further US$226.5 million to support Côte d'Ivoire's post-conflict reconstruction efforts, especially in the areas of economic reform, governance, community rehabilitation, and the provision of basic social services.

"The clearance of IBRD and IDA arrears constitutes a landmark in our collaboration with the Government of Côte d'Ivoire, opening the way not only for the Bank to resume funding support for medium- and long-term economic development and reconstruction efforts, but also for other donors to contribute towards the government's goal of stabilizing and re-building this very important country that was a regional leader in Africa before the conflict," said Obiageli Ezekwesili, the World Bank Vice-President for Africa.

The key objectives of the Bank's re-engagement will be threefold: (i) support the stabilization of the country by assisting in the implementation of the Ouagadougou peace agreement; (ii) assist war affected populations through community rehabilitation and support to the provision of basic social services; and (iii) assist economic recovery by focusing on economic governance reforms, institutional building and supporting economic production.

A US$120 million pre-arrears clearance grant for Post Conflict Assistance was approved in August 2007. In addition to the grant approved on April 1, Côte d'Ivoire now has access to US$122.5 million of new grants to fund an Emergency Urban Infrastructure Project (US$90 million), a US$20 million project to combat the HIV/AIDS pandemic, a Governance and Institutions Program (US$10 million) and US$2.5 million to help protect a national park. Four existing projects in education, rural development and the transport sector, on which US$104 million remains to be disbursed, will also be reactivated.

"The full re-engagement of the Bank, as well as the increased support anticipated from other development partners, should help set Côte d'Ivoire solidly on the road back to economic recovery, reconstruction and stabilization," said Bernard Harborne, the World Bank Country Manager for Côte d'Ivoire.

[ponty] 07/4/2008 10:45

Two buys this morning and still no movement in price

[rivaldo] 07/4/2008 09:47

Tiswas, you only have to read the last interims and it's all there.

The financial expenses are the net of interest received and one-off unrealized losses in foreign exchange valuations, which you can see didn't occur in prior periods and will hopefully not reoccur to the same extent, though the C$ may still strengthen a little. It's only an accounting entry anyway, not a cash item, and it's all explained in the Results section.

The "Results" section also explains that the investments are conservative "Canadian Bank issued investments".

In summary, as they state, the "Balance sheet remains strong, with cash and equivalent balances of $14.5 million (as at 31 December 2006: $14.6 million)", i.e £7.2m of cash at 30/6/07, which had increased to £7.5m at 31/12/07 against an £8m m/cap.

[tiswas] 07/4/2008 09:14

Can someone help me understand this "cash pile"

The interim statement shows financial expenses of 749k in the Income statement and I can not see any interest earned on the cash. Also, does anyone know what the marketable securities are as cash itself is only showing as 3.374m?

Thanks

[rivaldo] 07/4/2008 08:26

Nice one philjeans, could be good timing if the market spots the H2 operating profit and the huge cash pile. Together with the fast-grwoing markets and potential.

Red rats, what did the CEO have to say - anything more specific you can tell us?

[philjeans] 06/4/2008 20:34

Could be; looks an outstanding buy to me though.

Went long last week. Looking for a quick return to sanity but prepared to wait for a massive re-pricing.

[red rats] 06/4/2008 18:47

Guys,

new to this board, however looking at the fundamentals and having spoken with Barry Tal last week, I find it very difficult to understand why VDI is suffering so badly. Is this another case of the MMs shorting a fledgling company to within inches of its life?

Regards

Ratty

[rivaldo] 01/4/2008 21:55

Ponty, I take it you mean IND :o)) Hope you're right...

I suspect VDI is in a way far better value at this stage than IND was, given that VDI's cash pile almost covers its £7.7m m/cap, it's about to show it's operating profitably and it has secure long-term sources of income.

A snippet of news - demand for video surveillance is only going to increase:


Extract:
"Zarlink Demonstrates the Most Compact Optical Aggregation System for IP Cameras at ISC West

- Optical solutions simplify expansion of video surveillance systems, pave way for advanced security and monitoring applications and Gigapixel camera deployments
March 31, 2008: 09:30 AM EST


Zarlink Semiconductor Inc. (TSX: ZL)(NYSE: ZL) today announced that it will be showcasing its growing portfolio of optical aggregation technologies for video surveillance systems, including video IP surveillance (VIPS) camera and control room optical modules as well as its plug-and-play multi-gigabit optical cable for network interconnect, at the International Security Conference and Exposition (ISC West) at the Sands Expo Convention Center, Las Vegas, April 2-4, Booth#4126.

Increasingly advanced security, safety and monitoring video applications, for example thermal monitoring and image analysis, are creating demand for a new class of optical products that can handle bandwidth-intensive applications with the flexibility to support future upgrades. In the field, operators require new technologies that support an easy evolution to Ethernet-based networks while operating seamlessly with installed equipment. Operators require control room solutions that can handle increasing fiber connectivity from new camera deployments, and new interconnect technologies that can easily link equipment such as digital video recorders with data centers and storage systems....

.....At ISC West, Zarlink will be demonstrating the unrivalled performance of its VIPS products and easy integration with complementary technologies from Axis Communications and Visual Defence. Zarlink's ZL60239 and ZL60240 camera-side VIPS products will optically network AXIS 211M network cameras to Zarlink's fully populated ZL60214 control room rack mount solutions via multi-mode fiber. The ZL60214 control room rack will optically aggregate camera traffic to an Ethernet switch, with the entire network monitored by AXIS Camera Station software. In addition, AXIS 211M Network Cameras will be optically networked directly to Visual Defence's IP Mobile Digital Video Storage Solution (IP mDVSS) digital video recorder using Zarlink VIPS technology. Zarlink will also be showcasing its ZL60615 ZLynx active optical cable."

[ponty] 01/4/2008 18:26

rivaldo i rode I N D from 25p to present price and see this will go the same

[rivaldo] 01/4/2008 14:54

I'd assume since the price has moved up it was a buy - unless there's a buy trade which hasn't yet been reported.

Interesting that online I can both sell 25k and buy 25k at maximum, and the buying can only be done at 12.5p, i.e reasonably close to the full offer. Encouraging?

Ponty, I really hope you're right! If so we could be looking at a 400p share price. Which would be nice :o))

100p would do me fine though.

[jim_black] 01/4/2008 14:32

Was the 25,000 trade at 11.2p today a buy or a sell. Thanks

[ponty] 01/4/2008 11:49

Visual Defence is where I N D was 3 to 4 years ogo so much cash in hand worth the same as share price

[par12] 01/4/2008 11:40

Nice to szz a tick up on low volumes,

[rivaldo] 01/4/2008 10:46

:o)) Good point HP, perhaps too much to take in for some.

Does anyone here have a broker note or two on VDI they're happy to share by any chance?

Nice to see another tick up - the m/cap is finally above the cash pile!

[hugepants] 31/3/2008 19:21

Balance sheet is still extremely strong.

Cash = 10.5p
Net liquid assets = 14.7p
NAV = 23.5p

Just amazed the price has dropped this low. As rivaldo says profitable in H2 and the directors were buying in large quantities at 16p-17p last year.

Its almost as though no-one believes the mega airport contract (£70M - £125M over 25 years) is for real. Its just too big! There would prob have been a more +ve effect on the share price if they had announced some contract worth £5M over 3 years or whatever.

[par12] 31/3/2008 17:26

PAR has 100k at 18p, and has paid the price required to slag this one off !!