Westminster Share Discussion Threads

[dbnout76] 21/12/2018 12:20

Oh dear ??

[graham1ty] 21/12/2018 08:17

“Plans are in place to raise further funds to support the Iranian contract and the other expected new Managed Services airport contract and we expect to complete this exercise in Q4.”

This was in the interims.
No Iranian contract signed
No new Managed Services Airport contract
No new fundraising, as the share price is below nominal value.

Unlike WSG not to deliver !!!

[threeputt] 20/12/2018 07:50

Graham, I raised that as a huge red flag some time ago, I figured that they were bound by regulations to rns significant news and an award of an mou is 'significant news' whether real or not, to state they weren't going to announce them any more spoke volumes that there were none forthcoming.
I honestly haven't got a clue where this is going in the short term (long term is almost certainly down the pan), they'll have to get a cash raise in above 10p but it remains to be seen how they intend to do that, it's a flip of a coin from here atm as I also suspect there will be some strong selling come the new year

[barpy] 20/12/2018 07:20

Well that’s it for another year of no airport contracts. Will be seven years in February since the last one.

[graham1ty] 18/12/2018 10:23

$4.5m Tech contract, say £3.5m. Might be 25% margin, in fact on gross margin might be even higher. So, cash benefit to WSG should be £0.5m +

However, their ability to make money disappear knows no bounds, so it may yield a whole lot less than that

[youkme] 18/12/2018 10:02

if the tech contract had a margin like that then why not sing about it. Their silence and lack of clarity adds fuel to the fire of suspicion imo

[graham1ty] 18/12/2018 09:54

There has been small selling for a while now. Will be 8 bid pretty soon

[graham1ty] 18/12/2018 09:53

Youkme, if you believe the Tech contract is happening, that should bail them out for a bit. Impossible to know margins, but they might get cash of between £500k and £1m from that. The cash position at end Sept was not as dire as thought at £0.8m. Even at their historic run rate of c£0.5m-0.75m cash drain per quarter, they should be fine until the New Year at least. The Tech contract might give them cash to get past Easter even.

But by then, chickens will be coming home to roost. No Iran contract by then, no other signed contract, and they will be in deep poo.

If that sounded a little bit positive, I apologise !!!! I did not mean to be !!!

[threeputt] 18/12/2018 07:49

Blind faith ?
Even the derampers have given up cos they dont want in any more

[graham1ty] 18/12/2018 07:26

Youkme, you say “the market knows”. I am not sure it does, or why is the price still up at these levels ? Especially in this market, where lots of stocks have got hammered, why is the share price not down at 5-6p again ? There must be some disillusioned holders who would get out at any price ? And I cannot believe the blind bulls would be able to soak up that much more. Who on Earth is supporting it at these levels ?

There is no Iran contract yet; none of the promised MOUs; cash draining away all the time ( though possibly saved by payments for the Tech contract); the share price is below nominal value, making a quick Placing impossible. What is not to like ?

It would just take one big seller to say Get me out of here, and a market maker bidding 7.5p in size, to see this down 25% in the blink of an eye

[dbnout76] 17/12/2018 19:39

You really have to question what this company actually delivers...I am starting to believe that this is a genuine scam and should be investigated!

[threeputt] 11/12/2018 21:44

Just waiting for the trading update where they tell us that the $4m tech contract has been delayed, honestly wouldn't surprise me

[youkme] 11/12/2018 21:35

All in place for the Iran Contract WSG? Whats stopping you?
Market knows, just a few numptys left

[graham1ty] 10/12/2018 19:56

East Africa MOU, Nov 2012, delay 73 months
Asia MOU, Feb 2015, delay 46 months
"New country" MOU, Oct 2015, delay 38 months
East Africa 2 MOU, Dec 2015, delay 36 months
MIddle east 1 MOU, JAn 2016, delay 35 months
Border project MOU, Feb 2016, delay 34 months
Iran, MOU and LOI, March 2016, delay 33 months. “Signed” but not operational

That "adds up" to 295 months of aggregate delays, or nearly 25 years wait !! Nothing new has been signed for coming up to three years, so that flurry of supposed activity either side of Christmas 2015 has produced absolutely nothing.

Just shows that the MOUs are meaningless, unenforceable, and give no guidance at all as to likelihood or timing of receiving any contract at all. The MOUs cannot be anything more than “yes, let us have a chat about what you might be able to do for our airport security” and no more. Whatever they say, WSG conversion rate is.......er, zero.

The most recent five MOUs are all about three years old. Are they really still talking to these people ?

[graham1ty] 10/12/2018 19:53

“working towards signing at least one other long term Managed Services contract during 2018, although with projects of this scale and complexity there can never be certainty as to outcome or timing.”

AGM statement from 26 June. So, about another 10 trading days to go.

Mind you, waiting for new contracts can take a while

[youkme] 07/12/2018 23:19

omg the muppets still think this is going to happen! ffs wake up its not happening
the only "tick tock" is a placing! Keep topping up though!

[youkme] 03/12/2018 18:37

Another year draws to close

Einstein's Theory of Insanity springs to mind

[graham1ty] 29/11/2018 18:16

No, there is no 30 day window. Inside information is inside information. If they knew ( big if) that the contract would eventually be signed in April next year, that is still price sensitive inside information

And there is no minimum to be announced. If you buy 1 share as a director it has to be announced

Greatest ever unsigned contract

[barpy] 29/11/2018 12:52

So the recent director buys on the 9th November, is there a 30 calendar day window before the release of any market sensitive news? The CFOs amount was below 5000 eur so didn’t need to be reported, is that correct? Woeful amount ahead of the imminent greatest contract ever.

[youkme] 23/11/2018 08:33

If you look back at the figures Barby, even the SL one is woefully short on delivery of £££;££, and they were given that one!

[graham1ty] 21/11/2018 09:16

Don’t be so cynical. Two years ago, almost exactly now, they announced the start of ferry operations. So there has been some good news in the last seven years