Westminster Share Discussion Threads

[hippo] 23/9/2017 04:56

It is well worth reading the trading updates and announcements going back several years, a real eye opener, and demonstrates just how much an Aim company can get way with, simply no regulation.If you are invested here, or thinking about it, do your research and read previous updates.SL airport contract was meant to generate huge revenues, has failed to deliver a fraction of what was promised.A second contract in Africa was pumped for several years, even last year, the Nigeria franchise put out an ad, for a large wave of security personnel. WSG went on record to say, this was advanced work that needed to be done, so Personnel could be quickly deployed. Haha.....it was a pump !The lucrative ferry contract, over 2 years to get a ferry in place, then folds in a matter of months, again huge predicted revenues.The worldwide training centre of excellence.....shut down within 12 months.....without any update.The lucrative US contract in 2015 US 4.5m, where phase 2 was a 15 year contract to protect key structures and boarders, where was the revenue from phase 1! Figures don't add up. What happened to phase 2 ?What about the wave of free shares given to strategic investors over the last 6 years.......What about the 6 or so MOU's they claim to have signed in recent years, where's the updates.In Feb 2017, Peter Fowler claimed Middle East contract negotiations largely complete.......really.

[hippo] 23/9/2017 04:04

Wasn't there an article about how WSG was paying school fees for the children of certain decision makers.....on the other pending Africa contract that never materalised.....I'll try and dig it out.The SL contract has achieved a small fraction of the revenues claimed it would, even before the Ebola crisis.The training division massive premises lease agreed, then shut down, with a 1 line entry hidden deep in the accounts, within 12 months.Years of the massive sales pipeline figures, never to be converted.What happened to the oil pipelines, large US structures security etc.But the ferry service has to be the biggest shambles ever.......have to ask, who benefited from that.........I'm sure some inter party connection.Always been old boys network, jobs for the boys.........how long can it continue......

[youkme] 22/9/2017 18:14

Yet still people believe

[hippo] 22/9/2017 17:39

Same old......promises, promises, promises.....just continues to eat cash, whilst you have someuwin, who works for their public relations continuing to pump it.The multi million pound ferry contract, has proved worthless, and the next airport contract has been pending for years now, magically moves around the globe......

[youkme] 22/9/2017 15:46

Graham - and still ramped!
Trading share only
That threeputt got the books pretty close well done sir
Placing at 10p is the thought

[qs99] 22/9/2017 15:44

and only £0.4m now in the bank....DYOR....

[isstaaz] 22/9/2017 15:37

Yes of course. If they pull this one off then huge rewards for anyone investing at this level. IMHO

[graham1ty] 22/9/2017 13:52

The ferry debacle will have cost up to £5m. We know they had spent £2.2m on the SQ as that was RNSd. Then the two smaller ships, plus wages for three years that it took to set sail. Plus £400k of operating losses. And Sovereign will only have taken on the ship with some form of payment. If the share price is empty now, why even run her at all ?

£50,000 revenue in six months is £280 per day. Or about ten paying passengers a day !!! Is that really right ? There were about ten sailings per day, so almost every run was empty.

Someone should walk the plank for that.

[someuwin] 22/9/2017 13:48

£15m mkt cap. Close to securing £35m per year contract.

It is a punt. But one with a very good risk reward ratio.

[owenski] 22/9/2017 13:43

This is just another AIM mugs share

[isstaaz] 22/9/2017 11:42

Anyone investing here will just be taking a punt tbh. Been watching this company for last 2 years and nothing has changed except that failed African ferry adventure- what a shambles!!!

[threeputt] 22/9/2017 08:22

no doubt about it, great trading share, 10% and out

[sandy12345] 22/9/2017 08:06

50000 for me at 11.25. Thank you very much mm's (and Graham)!

[nick2412] 22/9/2017 08:05

Completely different business model. They didn't get the passengers for the ferry business after the delay following the accident to SQ which they will now sell.

The passengers for the ME contract are guaranteed. The £35m plus per annum revenues for an airport anticipating growth and in a strategic position in the ME is based on existing pax numbers. The profit margin should be good as well.

[graham1ty] 22/9/2017 07:54

Will the Middle East contract actually be a good thing.

Compare with the ferry: an announced 21 year opportunity, worth $300m. Go check the original RNS. And they have actually managed to lose stacks of money on it: approx £2m on the SQ, probably another £2m on set up costs, and probably another £1m or so on operating losses.

Massive RNS announcement turns into a considerable net loss. Yet, no one seems to be criticising them for this ??? If I was a potential client in the Middle East, looking at their track record......

They hyped the ferry contract. Now, what about that never-happening ME contract ?

[someuwin] 22/9/2017 07:46

Planning is in place for the funding.

So it all comes down to the Middle East project.

Contract sign off and the share price will rocket.

Nothing else matters here.

[sandeep67] 22/9/2017 07:28

I'm out...first thing. 5p I will jump back in

[threeputt] 22/9/2017 07:24

so,
ME contract first or cash raise,
take your positions

[sandy12345] 22/9/2017 07:21

mmm looks good to me and for the first time it seems they are taking the right approach moving forward. Agreement reached on Middle East - confirmed by chairman as well,they CANNOT be lying on this one. Exiting ferry disaster is great news. I think the market will react very positively today. Hold on or buy more...

[graham1ty] 22/9/2017 07:14

Continuing losses, £0.6m in first half
Ferry to be shut down, lost £0.4m in 1H
Cash down to £0.4m at 1 Sept
Admit working on fundraising
Highlight the £2.2m convertible that needs repaying next year and that the upcoming fundraising will "take that into account"
Sounds like their biggest ever fundraising, probably £3m plus
The MOU they hope to sign shortly ( whatever that means)
Sierra Queen to be sold

The underlying business drains cash and is awful. The ferry contract was announced as 21 years and a $300m contract !!!!! How wrong was that ! WSG have turned an opportunity into a disaster.

So, do you believe "shortly"

[someuwin] 21/9/2017 16:28

Should be an interesting day - one way or another.