SMN 2.41% 40.5¢ structural monitoring systems plc

I'm wary of the pump and dump and surprise capital raising.......

  1. 1,270 Posts.
    I'm wary of the pump and dump and surprise capital raising.... like it to settle for a few weeks at these levels..
    From the Mac Equity report:

    Despite 20 years of CVM development, the prospects of the technology – while generally positive – are subject to a high degree of uncertainty:
    Undiversified in terms of a product, but diversified across markets.
    Horizontal approach may protect the company from market risk, but subjects the stock to more influence from outside forces than a vertically integrated approach where production, distribution and sales are all under one house.
    The conditions of agreements with major partners such as Boeing, AEM etc. are fairly unclear.
    Competition is a large issue for SMS who must attempt to lead the market and gain first mover advantage.
    FAA approval does not necessarily mean widespread adoption of the product will ensue.

    Continued R&D and product development such as FAA testing means continued dependence on additional capital. The company’s retained earnings are a staggering –$45 million with a negative equity balance.
    Despite balance sheet issues, we consider financial risk to be lowered given the recent $3.7m placement, institutional support from Drake Private Investments and the company’s commitment to a low cash burn with low net operating cash flows.
    SMS does have a very concentrated shareholding, which may cause concerns if one shareholder decides to exit their position.
 
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Last
40.5¢
Change
-0.010(2.41%)
Mkt cap ! $55.40M
Open High Low Value Volume
41.0¢ 41.0¢ 40.5¢ $1.729K 4.229K

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No. Vol. Price($)
1 1999 40.5¢
 

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Price($) Vol. No.
42.0¢ 3491 2
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