Video of CEO Marne Martin detailing the "progress" during 2015, and the targets for 2016. Gains re high margin sales not achieved due to lack of new software sale, and continued dependence on licensing. Upside is new markets opening up in Europe and Far East, expanding the focus form simply US and UK. Official update on the year due next month, but it looks as though revenue is down (to 13m from 14m last year), though I didn't catch the word on cost of sales etc.
Price is mega-low, but I don't know if I'm confident enough to plunge again. Could be market makers milking the general state of affairs (i.e. lousy global market), or could be true reflection on the lack of forward progress.
Everyone given up here then? Wasn't that potentially monumental news the other day? JVCKenwood, no domestic minnow, signing up with SVR. I don't know how the licensing works, it may well be they negotiated a big discount, but a company of that stature screams big bedrock stuff to me. Next results are sooo far away!
No, I daren't say the obvious; SVR's marketmakers might be lurking here and rip the price back down out spite. SVR must have the most cynical MMs in the country the way they jerk the price around. Still, I'm looking forward to this company fulfilling the promise they've had for so long, and laboured to achieve. Future's looking interesting, whatever happens over the next couple of weeks.
If you would like to see Marne Martin, CEO, present on behalf of ServicePower, with the opportunity to ask her questions please follow the link below. The forum will be held on 25th of March from 5pm, registration is free.
Just to let you know potential investors and shareholders in Service Power may be interested in attending Mello 2014. It is a premier event for investors in Derby on November 6-8th where they will have a stand and be presenting. More information at http://mello2014.com/
This looks like it could be a strong strategic alliance with Service Max giving exposure to their Force.com.
The last year or so has been a lean time for holders of Servicepower but I am going to hold a bit longer for more upside in the medium term..
The Company announces that, following the service of notice, unless an earlier date is agreed with the current CEO, Mark Duffin, his employment will come to an end on the expiry of his notice entitlement of 12 months. Mark is on gardening leave and continues to be a director and employee of the Company. Discussions are taking place as to Mark's departure from the Company.
Why don't you write to the Chairman and tell him to do better?
I expect he is asleep on the job and the implied threat that the bulletin boards might get an action group together might wake him up.
I agree with you that their communication is terrible. A CEO (Mark Duffin or Dark Muffin) has come and gone with no explanation and it is impossible to tell whether what they are doing is dead end boring (pays the salaries) or has growth and proper profit potential.
In 2009 they had revenues of 18m and a 4m loss. Looking at their statements, something like every second year they have a FX conversion loss - are they due another FX Conversion Loss this year? Why did SVR management give a Revenue update, but not a Profit update ? Thats just not on ! Are they incompetent and don't know their cost base or deliberately misleading shareholders ?
They grow revenues and somehow their costs also grow (this might have something to do with the very large salaries SVR management pay themselves - large salaries paid to management of small companies is a symptom of so many small companies and shareholders do NOT address this - management should be paid a small salary and share options bonus - those share options getting diluted if a shareholders holdings get diluted - senior management should live by the sword - if mgt don't deliver they would then leave more often on their own accord.
With the scalability SVR have had for many many years, I don't understand why their revenues have not been growing much more rapidly. Why are they only focused on a few markets ? They constantly seem to go through "strategy" changes - moving from many small margin clients to a few large clients with larger margin - so what could happen next ? Someone like IBM could come along and go after their larger clients and they lose their large clients ... the impact of one or two large clients leaving would have a much bigger impact than one or two small clients (from a large group of small clients). Thats the risk SVR run, in my opinion. I've been watching SVR for many years and can't understand why they can't do both ... i.e. go after large and small clients ... why can't they have partner programs that target every conceiveable market. Companies like IBM are integrated into so many large businesses, that its easy to imagine they could take business away from SVR.
This management seem to love making up excuses. This management have not delivered in my opinion and should be replaced.
I think given the events and news flow in recent days, that this share is really on an upward trajectory from here on in. A 5% dilution for the acquisition is cheap at half the price in my view given the value adds, and this mornings rise is testimony to that.
This also means that the company continues to hold its cash position presumably which hitherto has represented 50% of the value of the company.
Sounds like an interesting ride we are embarking upon!
Not sure if we are at Bargain Basement but did buy in today. I know I should not buy a stock where I am down by 60% but have looked again at recent newsflow.
The trading updates are not very encouraging as they do not use the work New in relation to contracts. It could be they are fighting to hold existing contracts. The RNS today maybe an example of that.
On the positive side they do have some interesting software and having customers renew can help in new sales.
Cash down £ 1 million in the year is clearly a problem but no indication of any immediate funding concerns.
So as a medium term speculative investment worth a top up
Couldn't resist buying in at what I think are bargain basement prices. I suspect that the market has over-reacted to the profits warnings and should rally once the results are out and some better news starts to trickle in.
Well at least we know why they have/had such a lot of cash now. No idea what size of deal this was or whether it is earnings enhancing, but I am sure we will know the full SP over the next couple of days
It would appear they know more than us everyday and mark it down accordingly. Perhaps a little naivety on your behalf, especially if you are unfamiliar with the role of MM's andhow they run their books.
Anyway, lets hope one day your Bentley is on the drive.
A little miffed. I myself have been posting on this site for years and I am exasperated, not miffed that we continue to let the MM's get away with what can rightly be called fraud. If you take today's trades up to 2.30pm, buys outweigh sells and they have the bare faced cheek to drop the price by over 11%
I hold these shares, along with many others on AIM and am constantly posting a barrage of attack against these money robbing cheats, supposedly called MM's and this share is a prime example of how they can manipulate the price with minimal trading, but big price swings.
The company as you rightly point out are in one of relative strength and this fall of over 50% is totally unwarranted, or unmerited.
Well this one leaves me a mite miffed. They expect to have over £4.5m in cash at the year end, and still the share price is dismal. Ok I know they made a loss, and the revenue line has deteriorated quite a bit, but the really interesting question is whether they have been shaving their ongoing costs to match the reduced revenue line in a full year. They are also predicting new business concluded in Jan of £1m, so I hope that this means they can service that business with the same overhead if they have not been cost cutting.
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