Angle plc is a company I've held in my portfolio since the back-end of 2012 where I was picking up shares at around 27p a pop. This was a speculative investment which I mentioned in the blog below:-
http://michae1mouse.blogspot.co.uk/2012/12/a-new-angle.html
I have written several times about my investment since the original blog, and I have so far been mightily impressed with their progress.
The big money for Angle will come from demonstrating the utility of it's liquid biopsy system Parsortix for clinical use in ovarian, breast and prostate cancer.
However, as mentioned back in December 2012, funding is always required for these types of companies as they progress towards meaningful cash generation and profitability.
Today the company announced a placing to raise just over £10m to further fund progress. This doesn't come as a surprise given the excellent results that they are achieving with Parsortix, and it was pleasing that the placing price of 64.5p per share wasn't discounted.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AGL/12828416.html
Further news released this morning came in the announcement of a contract with Cancer Research UK.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/AGL/12828426.html
"ANGLE plc (AIM:AGL OTCQX:ANPCY), the specialist medtech company, is delighted to announce that it has signed a contract with The University of Manchester, acting in this instance, through the Cancer Research UK Manchester Institute which will allow incorporation of ANGLE's Parsortix system in the Clinical and Experimental Pharmacology group for routine use in clinical trials and for research purposes."
It appears that Angle's patient and sensible approach working alongside their key opinion leaders is now paying dividends, and all the evidence suggests that the Parsortix device will prove invaluable in the fight against cancer. For shareholders, I believe that patience will soon be realised as the focus of the company begins to slowly but surely shift towards revenue generation.
From today's announcement's:-
"Since 1 November 2015, the Company has continued to trade in line with Directors' expectations with revenues expected to be within the range of analysts' forecasts for the 12 months to 30 April 2016. Together with the net proceeds of the Placing, the Company's cash resources on Admission will be approximately £13.1 million."
The speculative nature of my investment here continues to diminish with each RNS issued, and I am becoming quietly confident that the company will ultimately deliver on it's early promise. I remain a strong holder of my shares.
Wednesday, 25 May 2016
Thursday, 19 May 2016
A football chant comes to mind
A trading statement from Ten Alps (TAL) brought a football chant to my mind yesterday. I'm not a holder of shares in TAL, never have been and never will be, but all I could think of was "Are you DCD Media in disguise, are you DCD Media in disguise etc."
Doesn't really roll off the tongue very easily perhaps, but regular readers will understand why I'd avoid Ten Alps like the plague following my experiences with DCD Media.
Both companies operate in virtually the same highly precarious sector. Neither company appears capable of making a profit. Both have undergone a name change, DCD Media was formerly Digital Classics and Ten Alps is soon to be Zinc Media. Their respective balance sheets are stuffed full of worthless goodwill and intangibles and they're both full of hot air and bluster when it comes to future predictions. You can rely on both companies to disappoint investors on a regular basis.
Let me illustrate. From the March interims, TAL's outlook statement was short, sharp and straight to the point:-
"The Company remains on track to generate a full year profit for the first time in a number of years and to continue momentum into the medium term."
Wow!! Fill your boots boys and girls. A micro-cap company about to become profitable with momentum behind it. Sounds exciting and also suggests good visibility.
Two months later we have:-
"Whilst the Company does not yet have total visibility on its full year results, the Directors believe that the Company will fall materially behind market expectations for the year ending June 2016."
and
"These continued losses are likely to result in the Group not being profitable for the year as a whole, albeit the Directors do expect some improvement on the losses recorded in FY15."
I do like the phrase "not being profitable" though, so much more palatable than "making losses".
Anyway, enough said. "Are you DCD Media in disguise......."
Doesn't really roll off the tongue very easily perhaps, but regular readers will understand why I'd avoid Ten Alps like the plague following my experiences with DCD Media.
Both companies operate in virtually the same highly precarious sector. Neither company appears capable of making a profit. Both have undergone a name change, DCD Media was formerly Digital Classics and Ten Alps is soon to be Zinc Media. Their respective balance sheets are stuffed full of worthless goodwill and intangibles and they're both full of hot air and bluster when it comes to future predictions. You can rely on both companies to disappoint investors on a regular basis.
Let me illustrate. From the March interims, TAL's outlook statement was short, sharp and straight to the point:-
"The Company remains on track to generate a full year profit for the first time in a number of years and to continue momentum into the medium term."
Wow!! Fill your boots boys and girls. A micro-cap company about to become profitable with momentum behind it. Sounds exciting and also suggests good visibility.
Two months later we have:-
"Whilst the Company does not yet have total visibility on its full year results, the Directors believe that the Company will fall materially behind market expectations for the year ending June 2016."
and
"These continued losses are likely to result in the Group not being profitable for the year as a whole, albeit the Directors do expect some improvement on the losses recorded in FY15."
I do like the phrase "not being profitable" though, so much more palatable than "making losses".
Anyway, enough said. "Are you DCD Media in disguise......."
Surveillance indicates ex-growth
Regular readers of my blog will remember that I have commented on the IP-CCTV company Indigovision several times. Most recently in 2013. After today's lack lustre trading statement
(http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/IND/12821676.html)
from the company it appears that nothing has changed. Here's a reminder of the blog written back in July 2013:-
http://michae1mouse.blogspot.co.uk/2013/07/indigovision-disappoints-again.html
I don't have much to add really, however over the years I have realised that when you invest in a company in a 'hot' market sector then you must remain vigilant. When warning signs appear that the company you have invested in has lost it's competitive advantage and it's momentum then cash in profits.
At the current share price, and given that Indigovision's current TNAV is above it's market capitalisation then I wouldn't rule out a bid for the company. Will it ever be a multi bagger again though? Very unlikely in my opinion.
(http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/IND/12821676.html)
from the company it appears that nothing has changed. Here's a reminder of the blog written back in July 2013:-
http://michae1mouse.blogspot.co.uk/2013/07/indigovision-disappoints-again.html
I don't have much to add really, however over the years I have realised that when you invest in a company in a 'hot' market sector then you must remain vigilant. When warning signs appear that the company you have invested in has lost it's competitive advantage and it's momentum then cash in profits.
At the current share price, and given that Indigovision's current TNAV is above it's market capitalisation then I wouldn't rule out a bid for the company. Will it ever be a multi bagger again though? Very unlikely in my opinion.
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