The half yearly report will be very interesting and should disclose a lot of unanswered Q's... Has Dykes been holding out now and decided not to tell the market when money is coming in? Unlikely given their previous stance of telling the world when a cheque arrives. Will he get another 'save my ar%$' cheque before the end of year...
No further guidence I can see has been given on the missing money (uncollectd) from last fin year. So has the market priced this in as a total loss, not entirely I feel. Also why would they be bothering to still supply goods and services to the Chinese project if they have not been paying...
I am suspicious of the accummulation from Blackrock, as they are worldclass brokers... Do they know something we do not? Are the Chinese paying them and all is good- unlikely yet why are these funds accummulating. Surely not on the simplist of valuations being the supposed EPS... They cannot be this stupid or maybe Dykes is a better communicator to the brokerage firms. I would NOT be wishing to guarantee these firms any money is coming in if it will not be...
If they declare they received over 30 mil from the 42 mil owed in the half yearly. The SP will go up... How high will depend on continued revenue earnt from current projects. If under 30 Mil and they have no solid revenue going forward then down.
They are certainly a mystery to work out communications wise. If we were a potetential customer would they never respond to queries, questions, etc...maybe- lol. Yet I doubt it.
If they are trading closer to 10c just before the release of the half yearly they may be worth a small punt- IMO. Other than that i do not see the value in a company who operates in a manner that is close to contempt against its shareholders.
Have they been the same old same old in December, or has anyone been able to communicated to their IR in a cooperative manner???
The company counts on us investors having ST memories which is generally the case. As holders will not be complaining if the stock is raising hard and fast. In the event that more pumping was to begin. At the end of the day 'SHOW ME THE MONEY' is the only thing that counts. I will not wish to hear that they COULD, MAY, POSSIBLE to get 1.5 Billion dollars in future projects. Simply show us last years money and any further contracts you have... very simple yet they cannot.
If you look at the chart over the last year, you can see the confidence drain away from investors as they cannot collect their bills. Or did not make their payments terms and pricing clear enough. I would bet on the latter...having done business in SE Asia the last thing a company wishes to be nailed down to is their final pricing. They are fine to go ahead with providiing services\products with no formal contracts in place in many small biz's. Yet they hit you with a huge bill later that was never agreed too or discussed. I suspect these events have transpired with this company- IMO.
As I had this IT company in Thailand give me a bill for 550K on services that i thought they were to charge my company approx 50K. Then I simply told them that I had asked several times for the charge rate and product charges and only vague answers were given. We had nothing signed in regards to 600K worth of work\products and no verbal contract. They threatened to take me to court and this and that until I said, well you get 60K or nothing. They threatened to take the computers and software and I said take them. I have them backed up and will purchase the PC's software from a better priced company.
Which option do you think they took? They took my 60K and I made sure that this amount was paid in full by getting the Director to sign off that it was. Then dismissed their services...
The Directors had blamed the salesmen to regain my trust and the previous salesmen had already moved onto other companies. So all get to save some face. The next year they were back working in my company at the time with no agreement in place and nearly the exact thing happened. Yet the worth was approx. half the value of the previous year...
The actions of NBS- IMO, reminds me of how the Directors from the other company blamed everything except themselves to save 'face'. No taking responsibility, they would blame anyone whom is not currently in the business, the currency or ANY other negative economic thing they could think of... Nexbis does the same- IMO.
Forex losses this-that, Malay government that... grow up and take responsibility for poor financial management or blame the salesmen...whatever or show us the money.
It amazes me that Blackrock are now in this stock. It amazes me that Orbis are still in this stock.
This stock has never made sense to me and is not worth losing sleep over- IMO. Yet a small punt before the next half yearly maybe in order. To my knowledge they have 2 months to announce the half yearly to market. I noted that it took them over 3 months to send out the annual report this year. Must be a busy time for Dykes trying to work out all these IMO exaggerated rates for their 'KEY' projects.
Very curious company- IMO...Buyer beware.
NBS Price at posting:
18.4¢ Sentiment: None Disclosure: Not Held
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