"Transense Technologies plc notes the Financial Conduct Authority's ("FCA") announcement today regarding Beaufort Securities Limited ("BSL") and Beaufort Asset Clearing Services Limited being placed into insolvency. The FCA's announcement disclosed that the FCA has imposed requirements requiring the Firms to cease all regulatory activity. BSL were a joint broker to Transense. As a result of the requirements imposed by the FCA, BSL will no longer be able to provide broking services to Transense."
"finnCap Ltd continue to act as nominated adviser and broker to Transense Technologies plc."
Less than a month ago, BSL issued a broker's note on TRT reducing its target price from 150p to 100p. Optimists!
I agree that newsflow is lacking and the big delays in orders are worrying.
However, cash stood at 2.5 mln at June end and appx 1 mln NET cash had been used during the previous 12 months. Obviously, the net cash burn for this year should be higher (maybe even up to 2 miln) but this is being offset by the Glencore/BHP rentals of iTrackII - so, we should still have cash for at least another year and a half (ignoring the positive cash impact of "increased" sales of Probes and the PCAS, as we know nothing about its significance or not).
So, still far off from another dilution but yes, 2018 is the year that the Co MUST show a turnaround, otherwise...
My own opinion is that if they can't make a success out of it with the remaining cash they have they should sell up and return the proceeds to shareholders but then i'm biased because I only bought in at 1.3p in old money and expect to make a profit on this basis.
Other than that it is another dilutive fundraising with no guarantee that they will be any better off in a few years time.
The Board has explained in the past that TRT had been a victim of the slowdown in the mining industry and hence the potential for Translogik to increase its order intake at the projected rate had been undermined. Forgive me if I have missed something, but the mining industry have been going through something of a renaissance over the last 3 years and as the original field trials were undertaken 5-6 years ago and were proven successful why are we still struggling to become cash flow positive?
BHP appear fairly sold on the technology and Glencore have dipped their toe in but as for other mining companies and other locations than Chile there does appear to be a lack of penetration into what we are told is a growing market.
Clearly there is more to Transense than just the iTrack and probes but how we go from year to year with very little growth in revenues, continued losses and declining cash balances defeats me. The dawning of the age of SAW is such a slow burner the expiration of its patents will surely be upon us before this company ever gets off the ground. One can only hope that the March results will prove to be the turning point so many of us have been waiting for.
26/9/17 Its MOVING at last!!
Excellent news at the investor event all about marketing now! At last a chance to recoup some of my losses here!!
"The forward looking cash flow based on the anticipated level of activity indicates that the Group should have sufficient funds available for the short to medium term"
Signed significant, non-exclusive, license with General Electric ("GE") for single specialist application using SAW technology
it has become clear that our product is the tread depth tool of choice for Bridgestone, Goodyear and Continental, amongst others and as a result our probe revenue in the final quarter of the year experienced a marked upturn
can someone ask when they would anticipate "Siemens?" to allow them to release details of the collaboration and the results of the pilot tests? I think that is quite significant!
Also, how the move towards electric cars will impact the flexplate projects with legacy car companies? By the time GM etc launch the flexplates, their cars might be outdated and obsolete by Tesla et al. Unless they can "go to bed" with Tesla etc?
Is anybody going to the investor event on the 26th? I would haver gone but I think I'm away on training that day so won't be in the City.
I didn't go to the last one as the results were so poor that I didn't see the point but there has been more positive news out of the company recently and if they can sign up some more mines to I Track 2 soon they may actually start to show a profit.
Definitely worth holding on to these at this level as I don't think you can lose.
I see these are still falling and are now below my buy price. If they get much lower I may buy some more because I don't think you can lose money at these prices.
They either make a success of the business with the cash they have remaining or they sell the IP and I should get my money back at these levels.
That's my opinion anyway.
I also bought a few TRK at 1p as I think it is a similar scenario. Totally bombed out and pure negativity but after spending around £100m developing their tech there has to be a fair chance that it is worth a few bob to someone.
Both small investments so if neither of them pay off then I won't lose much money.
Bullish statements can only be issued when bullish developments occur or can be expected. I cannot comment on the Directors NON-buying however.
The Co has to spend money on expansion and sales dev., big boys will buy if they like the product (if it saves them money, why not?)...as for minnows, if I was a big miner I'd prefer to buy from a small co that needs my cash, than from a big boy that could compromise confidential data (because they don't need the big miner).
Sorry, not a c'lever guy just someone having a punt. TRT is becoming a shambles (if it wasn'.t already) It's hugely important for a Co such as this has to issue bullish statements, they haven't. No Directors have have bought shares for quite some time. I f we wish II's to come on board then the incumbent BOD need to purchase, they haven't & that speaks volumes. For years PI's have hung on in the hope the BOD will deliver.
So we have a situation whereby we are (as a company) spending money on the basis that the big miners will accept our ;product . So they're big boy's & we're minnows. If they choose to extend the trial period where that does leave us ? Exposed, I hope TRT enjoyed their Hawaian trip, we paid for it & they got nice tan's
I'll probably get abused for this post but...yes, revenue is still short so market got disappointed. But I think there was some overeaction?
SP is at 1.60 (pre-cons.) i.e. still 60% higher than last June...cash is at 3 mln, with little outflows over the 6 months.
GE, although some time away for revenue generation, is a mega-validation of the technology and Siemens (?) is still on track, with a whole year's testiing already achieved - so sooner or later, we will get something from here (including a licencing fee).
Co is spending money on expansion and expects a clearer picture in 3 months (end of financial year, as per RNS). There are a dozen trials with expectation of a sale in most, if not all, trials.
There are many things on, which are still taking longer than the market expected BUT the Co is at a much better situation than 1 year ago - more cash, more projects nearing fruition, little cash being burned, expansion of sales teams and more trials. So I disagree that we will not make money...now is actually a buying opportunity, the SP dropped yesterday because many people rushed to sell.
So TRT are increasing running costs whilst losing money ? No mention of the European interest (Siemens) ? This is becoming more of a joke by the day.
Share consolidation wa purported to give the Co. the ability to pay divi's ? laughable ! Directors not prepared to purchase share & haven't been for quite some time.
It's time for the BOD to take substantial pay cuts to share pi's pain (not that they will)
All in all a dreadful rns.
We only have to wait until June at the latest to find out whether GE will pay the next $250k towards their licence. Hopefully they will as this will be key in assessing whether there really is a great deal of value in TRT's IP.
If they don't I may sell as long as I can get more than the 67p or so that I paid for my shares.
There clearly is at least some value in the IP and now that the cashflow situation has stabilised the company is now in a strong position to commercialise the IP.
More to the point where is the support from the Nomad who had, presumably, agreed the share consolidation ? What's going on here ? Are the BOD guilty of being naive ? as shareholders we need some answers.
50 to 1 right, our support should have been at 1-00 minimum, this stinks.
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