Syft Technologies Limitd

[garfy]

A very interesting Tech. company that shows great promise. Under the guidance of Doug Hastie over the past 6 years, every report has shown progress in every department. Staff almost doubled, output set to increase, financials healthy, and a great range of clients..... What's not to like?

[Arthur]

Dear Shareholders,

After several months of onsite trials Syft has just signed a letter of intent for multiple units with a large Semiconductor manufacturer for its instrument to be used as the global standard for airborne molecular contaminant monitoring in the cleanroom. While this letter of intent is non-binding, our expectation is that it will be formalised and we will deliver multiple units over the next 18 months.

This success is on top of our growing supply relationship with Samsung and there is an expectation within Syft, that we can extrapolate this success to other major players in the Semiconductor industry.

Our business in general in Asia is very strong. We opened our office in Korea earlier this month, and had over 70 customers and partners attending. They view this new office as a strong commitment to this market, and will generate even more growth to what is already a strong market.

Finally I would like to say thank you to all Syft staff. This success is due to many hours of hard work, and initiatives taken over a number of years. When we started this journey, we did not know it will lead to the customers we have today, or the Semiconductor industry in particular. The success we have today though is due to our confidence in our future, our focus on long-term profitability, and sheer persistence and hard work to persevere no matter what the obstacle. We at Syft don’t see this as success, we see this as the start.

Regards,

Doug Hastie
Managing Director
Syft Technologies

[kiora]

I can't find a current financial report,can someone post it?

[percy]

I can't find a current financial report,can someone post it?

Go to www.usx.co.nz
Click onto market.
Then quote sheet
Then SYF
Then announcements, and 2nd announcement is the annual report.

[garfy]

A good interim report from SYFT - over a million shares traded today...... Proceed with caution, but I like the way this company is moving!

[garfy]

A very good presentation at Forsyth Barr Emerging Companies presentations. Increased demand and productivity, and a growing top line. Not afraid to point out the areas where progress has gone more slowly than hoped. But over-all forecast for 2019 most promising!

[pedro.nz]

Do you have a link please Garfy

[percy]

Go to www.usx.co.nz
Click onto market.
Then quote sheet
Then SYF
Then announcements, and 2nd announcement is the annual report.

Follow the above and you will find the presentation.

[garfy]

This presentation was on 14/03/2019. Easiest to find by going to <www.usx.co.nz>, and on the right-hand side of the page is the link. Cheers.

[pedro.nz]

Thanks for that

[garfy]

An interesting couple of weeks for SYFT.... 1,500,000 +shares traded, a very positive presentation..... increasing interest in a company that is presenting itself to the world in a very positive way, the science is good, and the staff growing both in numbers and abilities. I like it!

[Waiuta]

Is there any indication when this company will be paying dividends. I still wonder if this is another Hi Tech NZ company shredding cash chasing scale. I recall when it first started from tech out on Canterbury University. If I remember rightly Stephen Collins (x Harcourts) was involved earlier on the board. I think the technology is world class but what's the cost of getting it to market? Things seem a bit vague and I'd be interested in other's thoughts.

[garfy]

I have re read most of the announcements from SYFT and feel fairly confident that the forward projections look very promising. I am no accountant, and struggle with balance sheets, so DYOR. The end of Syft financial year is 31 Mar 2019 so not long to wait to see whether their anticipated results come to fruition. I am very optimistic. Time will tell.

[garfy]

30,000 shares traded today, and at a 2cent rise to 0.95c/share. There is no suggestion of dividends at this stage which I think is understandable in a development phase. As for markets, the CEO has stressed that having the best technology in the world is no guarantee of success if the world doesn't know you or your product. Accordingly, the sales and promotion aspect has been increased markedly over the last ~5 years - and SYFT now has sales in Sth Korea, USA, UK, AUS, Canada, Germany, and NZ, and probably other places. A lot of thought has gone into improving production - you can have orders, but if you can't supply the goods...... I feel the concept of becoming the largest company in NZ a hope, but striving towards that goal ..... A very interesting company!!

[garfy]

That month of May..... Started off very well for SYFT - a 5c rise in sp to $1.00, and 96,00 shares traded at that price in the first 7 days.
SYFT is involved in an international symposium in Germany, involving 6 other countries on July 4th - getting the message out there!

[Arthur]

Syft Market Release of Unaudited Results for FY2019

Syft delivers operational revenue of $21.0m up 70%.
Operating profit of $4.8m up 343%.
Letter of Intent with Semiconductor manufacturer, Micron, turns in to purchase orders worth NZD$13.3m to date.

Performance Highlights (NZD)

Strong sales growth and recurring revenue
• Syft continues to achieve consecutive years of high growth with sales up a record 70% YOY.
• Growth rates continue to increase as more sales creates more customer advocates.
• Staff increase 35% from 78 people to 105 people.
• Many new large-scale customers and reorders from existing customers.

Corporate milestones
• We have successfully opened an office in Korea, which is helping to strengthen our position in the Semiconductor market.
• We have employed Jihoon Lee, based in our Korean office, as our sales leader.
• We expect to make more senior appointments in production, development, and sales, as the scale and footprint of our business increases. Many of these positions will be overseas based.
• We have introduced a next generation “Infinity” instrument, that delivers much higher performance specifications, and this is driving our growth in the Semiconductor market.

Changes to the Board of Directors
As part of a planned Board re-fresh Syft announces today the appointment of Desh Edirisuriya as a Director.

Desh has a high level of expertise in R&D, manufacturing operations, quality management systems and business improvement methodologies, a skill set very relevant to Syft’s specialist manufacturing demands. He knows the company well having acted as a consultant in recent times. Desh will bring a wealth of knowledge and experience to the table and as the pace of instrument production continues to grow his skill set will be highly valuable to Syft. Desh currently serves as the General Manager Business Excellence for Fisher and Paykel Healthcare. Desh replaces Martin Goldfinch, an ACC appointed director, who has resigned today.

About Syft Technologies
Syft Technologies designs and manufactures revolutionary scientific instrumentation that enables instant detection of most gaseous chemicals.

Customers include:
• Global companies such as Samsung, LG, SC Johnson, Ford, and Kraft Heinz Company.
• Universities such as Harvard, Stanford, Imperial College and Cleveland Clinic.
• Government agencies such as Australian and Canadian Customs.

In a diverse range of industries including semiconductor manufacturing, pharma, vehicle testing, environmental monitoring, and food and flavour research. Syft instruments deliver a combination of unique attributes: high selectivity, very low limits of detection, high throughput, ease of use, and very low total cost of ownership. Syft provides class-leading after-sales support.

[whatsup]

Syft Market Release of Unaudited Results for FY2019

Syft delivers operational revenue of $21.0m up 70%.
Operating profit of $4.8m up 343%.
Letter of Intent with Semiconductor manufacturer, Micron, turns in to purchase orders worth NZD$13.3m to date.

Performance Highlights (NZD)

Strong sales growth and recurring revenue
• Syft continues to achieve consecutive years of high growth with sales up a record 70% YOY.
• Growth rates continue to increase as more sales creates more customer advocates.
• Staff increase 35% from 78 people to 105 people.
• Many new large-scale customers and reorders from existing customers.

Corporate milestones
• We have successfully opened an office in Korea, which is helping to strengthen our position in the Semiconductor market.
• We have employed Jihoon Lee, based in our Korean office, as our sales leader.
• We expect to make more senior appointments in production, development, and sales, as the scale and footprint of our business increases. Many of these positions will be overseas based.
• We have introduced a next generation “Infinity” instrument, that delivers much higher performance specifications, and this is driving our growth in the Semiconductor market.

Changes to the Board of Directors
As part of a planned Board re-fresh Syft announces today the appointment of Desh Edirisuriya as a Director.

Desh has a high level of expertise in R&D, manufacturing operations, quality management systems and business improvement methodologies, a skill set very relevant to Syft’s specialist manufacturing demands. He knows the company well having acted as a consultant in recent times. Desh will bring a wealth of knowledge and experience to the table and as the pace of instrument production continues to grow his skill set will be highly valuable to Syft. Desh currently serves as the General Manager Business Excellence for Fisher and Paykel Healthcare. Desh replaces Martin Goldfinch, an ACC appointed director, who has resigned today.

About Syft Technologies
Syft Technologies designs and manufactures revolutionary scientific instrumentation that enables instant detection of most gaseous chemicals.

Customers include:
• Global companies such as Samsung, LG, SC Johnson, Ford, and Kraft Heinz Company.
• Universities such as Harvard, Stanford, Imperial College and Cleveland Clinic.
• Government agencies such as Australian and Canadian Customs.

In a diverse range of industries including semiconductor manufacturing, pharma, vehicle testing, environmental monitoring, and food and flavour research. Syft instruments deliver a combination of unique attributes: high selectivity, very low limits of detection, high throughput, ease of use, and very low total cost of ownership. Syft provides class-leading after-sales support.


I wondered why there was recent interest, now I know/

[garfy]

It seems that interest in this company increases. The unaudited results for FY2019 are very positive. The sp rises.
So far, so good. At this stage I am very enthusiastic!

[Arthur]

It seems that interest in this company increases. The unaudited results for FY2019 are very positive. The sp rises.
So far, so good. At this stage I am very enthusiastic!

https://www.syft.com/wp-content/uploads/2019/06/Syft-Annual-Report-2019.pdf
disclosure I have some

[percy]

Syft agm.
Agm started at 1pm.Outgoing Chair R Richardson spoke well.Then handed over to MD Don Hastie,whose enthusism radiated.He then handed over to the CFO,who spoke well.We then heard from another four or five staff who included, sales,R & D,production etc .All spoke well.Then we saw an excellent video of what and where they do things.All incredibly postive.
Concentrating on Semicom and Enviroment,however still working on other areas,such as ;pharmaceutical industry,breath research and food processing.
Air monitoring.Only manufacturer of "real time" equipment.So no need to send samples to laboratories.This is very important.
Used in container safety,outdoor air quality,odour emissions,indoor air quality,vehicle emissions,and laboratories.
Staff numbers have increased from 46 in 2017 to 101 in 2019 and today 113.
Revenue growth 2015 ..6%.......2016..15%..........2017..36% ..........2018..49%..............2019 ..69%
ROE ...24%............Margin 61% which they are looking to improve.
MD was asked about listing on NZX.Sorry I should have done some work on that this year,however I have been to busy...lol.
Most probably the best presentations I have ever seen at an agm.
A big meeting,with many original shareholders.Had to leave early,however I can only say if you hold Syft shares you are "well postioned".
After all that I see the presentation is now USX site.Better check my facts?.!

[Oliver Mander]

Thank you for the update Percy. Interesting response on NZX query - was one of the questions on my email list (never sent) for the company!
At the moment, I'm happy with my little foray.

[percy]

Thank you for the update Percy. Interesting response on NZX query - was one of the questions on my email list (never sent) for the company!
At the moment, I'm happy with my little foray.

Before the meeting I knew a bit of their history.I learnt so much from attending the meeting.Learnt more in an hour and a half than I would have reading up on them for a year.!!The people are passionate,they have "the edge", and now the reputation to deliver on their promises.I never expected to come away and placing a buy order . The importance of attending these agms really came home to me.
Thanks to others here for motivating into going to the meeting.

[garfy]

Thank you Percy for your input. Much appreciated! This is a most interesting company, with very good leadership, driving a team who are intent on proving their science world wide. The results so far are stunning. I do like their balance between science and commerce - one without the other doesn't work. A very happy holder.

[percy]

I have been buying a few at $1.03 and $1.10.
Interim result is sometime away.It will be released late November or early December.
At agm time they would have had 4.5 months under their belt,and being so upbeat at the agm,I expect the interim will be good.
I thanked CFO Nicole Robinson for allowing me to attend the agm,and asked her about the big sale at the end of the financial year.It was to Micron.She expected more steady[even] sales in future.

[percy]

The seller at $1.10 has finished selling.
Only 10,000 for sale at $1.32.
72,750 on the buy side from $1.05 to $1.10.

ps.I have finished my buying until the interim result.

[whatsup]

Percy, Well done.

[pedro.nz]

Have held since the beginning so have observed the hard struggle it has been to get to this point which is not unusual here in NZ for startups coming out of our universities. (Eg Bliss - still going, Nuon - no longer around)
Great ideas and technology but it is always difficult for these companies to get traction in the markets that matter and to get the funding needed to do same. Looking forward to the day this one realises Doug Hastie’s dream of being a billion dollar company :t_up:
Went to the AGM and yes, they certainly sounded enthusiastic didn’t they. I got the impression that they are now a much more structured company than they have been in the past and with well selected people at the wheel they will continue to improve markedly year on year.

[percy]

30,000 shares traded today at $1.15.Seller still has 1347 for sale at $1.15.Next seller has 5,000 for sale at $1.19 and the $1.32 seller has 10,000 for sale.
On the buy side 18,000 wanted at $1.12.

[percy]

Another 43,600 traded today at $1.15.

[garfy]

Syft is a most interesting company, and if it achieves what its aims are.... :-)) I have found the Unlisted companies most interesting. Frankly, I feel that there are more opportunities in this 'area' Yes, shares in both SYF and PAZ, and very comfortable wth them. Onwards and Upwards........

[RupertBear]

Another 43,600 traded today at $1.15.

Got on board yesterday at $1.15 :D but i didnt buy 43,000

[percy]

Syft is a most interesting company, and if it achieves what its aims are.... :-)) I have found the Unlisted companies most interesting. Frankly, I feel that there are more opportunities in this 'area' Yes, shares in both SYF and PAZ, and very comfortable wth them. Onwards and Upwards........

We are "good to go" now RupertBear is onboard,as he is with PAZ.
He got rid of the $1.15 seller.
Next seller has 14,000 for sale at $1.19 and then there is a seller of 10,000 at $1.32.
A little while to wait until the interim result late November/early December.

[RupertBear]

We are "good to go" now RupertBear is onboard,as he is with PAZ.
He got rid of the $1.15 seller.
Next seller has 14,000 for sale at $1.19 and then there is a seller of 10,000 at $1.32.
A little while to wait until the interim result late November/early December.

I am feeling “well positioned” Percy, thanks for your insights into these interesting companys :)

[Vaygor1]

Last year on 8-November-2018, Syft issued their H1 interim financial statements (for the 6 months ending 30-Sept-2018).
I can't find any H1 financials issued this year and Christmas is 3 weeks away. Must be due soon.
Anyone have any info regarding this delay who could shed a bit of light on the matter?

[Joshuatree]

Must be imminent. I note the interim in 2017 was 8th dec. Disclose ,holding.

[Vaygor1]

Must be imminent. I note the interim in 2017 was 8th dec. Disclose ,holding.

Thanks JT.

[percy]

Not a good look seeing the share price drop ,when the interim result is due.
7,500 sold at $1.12,
25,000 sold at $1.10.
Seller has 2334 for sale at $1.10.
Highest bidder for 30,000 is at just .86 cents.

[percy]

SYFT interim is now available.
Go to www.usx.co.nz
Syft
announcements.
While the first six months have been positive for Syft, we are forecasting a full year loss for FY20 as sales previously expected in this financial year have been moved to early FY21. While this is not ideal, it’s not a concern as it is a timing issue only.

Outlook The first six months have provided an excellent start to the 2020 financial year. While our sales pipeline remains strong, we expect our full year financial results to be affected by the timing of sales contracts. Sales we had previously expected to be finalised in the current financial year are now likely to move to FY21. The impact of the delay is that Syft is expected to report a loss for the FY20 year.

Our focus remains on delivering long-term profitability. We continue to remain very positive on the short, medium, and long-term prospects of our business subject to the inherent volatility associated with the timing of unit sales in the short-term.

[mfd]

Revenue is still going gangbusters, up 80% on last year. Let's hope the profit catches up eventually - I get the impression they are all hands to the pump getting through current demand.

[percy]

The period has been dominated by the production and installation of the new Infinity instruments for Nasdaq-listed Micron Technologies. While this relationship is very positive for Syft in the long-term, it has caused significant short-term disruption as we have refocused our resources to fulfil Micron’s requirements. Primarily this has driven a need to redeploy people from sales and development to production and installation. The offset to the short-term disruption is our expectation of further future sales to Micron and other semiconductor providers.

[Joshuatree]

Yes costs have risen heaps because of it and also accounting treatment changes. This is the second time they've cited timing issues though, a bit disappointing atpit. Holding for another 6 months atp. Good to see improvements coming re communicating with us. The website has mainly old stuff on it atm. Looks like the staff recruitment has slowed down too from my browsing.Did see 4 jobs on Seek.

September_2019_Interim_Results_Announcement.pdf (https://www.usx.co.nz/uploads/paperclip/documents/1924/original/September_2019_Interim_Results_Announcement.pdf?15 75499888)


Syft_Technologies_Interim_Financial_Statements_30. 09.19.pdf (https://www.usx.co.nz/uploads/paperclip/documents/1924/original/Syft_Technologies_Interim_Financial_Statements_30. 09.19.pdf?1575499888)

[percy]

Yes costs have risen heaps because of it and also accounting treatment changes. This is the second time they've cited timing issues though, a bit disappointing atpit. Holding for another 6 months atp. Good to see improvements coming re communicating with us. The website has mainly old stuff on it atm. Looks like the staff recruitment has slowed down too from my browsing.Did see 4 jobs on Seek.

September_2019_Interim_Results_Announcement.pdf (https://www.usx.co.nz/uploads/paperclip/documents/1924/original/September_2019_Interim_Results_Announcement.pdf?15 75499888)


Syft_Technologies_Interim_Financial_Statements_30. 09.19.pdf (https://www.usx.co.nz/uploads/paperclip/documents/1924/original/Syft_Technologies_Interim_Financial_Statements_30. 09.19.pdf?1575499888)

The market did not like the result.
Went from trading at $1.15 down to $1.05 and today 15,000 were traded at 88 cents.
I was looking to add to my holding, had the result been good.As it was not what I expected, I have decided to sit on what I have.
As per any new addition to my portfolio,I buy a modest holding, then depending on results, I either hold,sell,or buy more.

[RGR367]

The market did not like the result.
Went from trading at $1.15 down to $1.05 and today 15,000 were traded at 88 cents.
I was looking to add to my holding, had the result been good.As it was not what I expected, I have decided to sit on what I have.
As per any new addition to my portfolio,I buy a modest holding, then depending on results, I either hold,sell,or buy more.

A bit lower more and I could be persuaded to take a punt on it :p

[garfy]

A share price fall from $1.05, (earlier $1.15) to $0.88.... a 16.2% fall!

Accepted that the Interim Result was not as good as hoped, although accountancy changes made it difficult to understand the actual position of the company.

But, I do not understand why anyone would sell their shares for $0.88p/s. For a quick sale, an offer of $1.00, or even $0.95, would have realised their goal....... but $0.88p/s???

I think a 'please explain' is justified. Management have been a bit tardy in their 'newsletters'.

Perhaps SYFT has over-reached itself and hit the rocks, and there is a panic seller - who would have to have some inside information to make THAT offer, surely.

Thoughts?

[percy]

I have been buying a few at $1.03 and $1.10.
Interim result is sometime away.It will be released late November or early December.
At agm time they would have had 4.5 months under their belt,and being so upbeat at the agm,I expect the interim will be good.
I thanked CFO Nicole Robinson for allowing me to attend the agm,and asked her about the big sale at the end of the financial year.It was to Micron.She expected more steady[even] sales in future.

The result was very different than expected.
I would guess some said "I am gone.".Meet the market.and move on".Trouble meeting the market was/is the buyers were well below what SYFT had been trading at.
My own view is I will give them more time.Most probably until this time next year.

[garfy]

Thanks for your response percy. My naivety shows - we are here dealing with the Unlisted SE..... and 0.88c/s was the best offering at this time, hence "I am gone" at 0.88c/s.

I have been interested in SYFT - I like the science, I like the way they have thought through the 'best' way to progress the company: ie. Science+Salesmanship. Perhaps a bit extravagantly.... but positive and believable.

The UnlistedSE has been very interesting, and I have invested a modest amount in the some of the available companies. SYF and PAZ were my two major investments - well until yesterday......

Still in the 'blue', so lets see what happens. I will not relinguish any of these shares in a hurry.

[whatsup]

Yes but now the future of SYFT is tied to the likes of U S companies like MU which just released a good result so we should expect a better result next quarter or half.

[Red Bus]

Issuing Hastie 997,000 shares under the staff employment scheme seems a tad rich.

[percy]

SIFT-MS technology drives simplification of bowel cancer screening
15 January 2020 Press Release
Firm: Syft Technologies Limited
Security: Syft Tech Ords
Documents:
Syft_bowel_cancer_trials.pdf


This should be very interesting.Warning it will take years,but I don't think anyone will miss having a colonoscopy.?

[Joshuatree]

Thanks this doc should work.

Syft_bowel_cancer_trials.pdf (https://www.usx.co.nz/uploads/paperclip/documents/1936/original/Syft_bowel_cancer_trials.pdf?1579047886)

[pedro.nz]

Excellent news - might take a while to get all the testing etc done but once completed, it will prove very popular methinks :t_up:
Have had a stake in this company from almost the beginning - has been a long haul but they are getting there...

[percy]

Thanks this doc should work.

Syft_bowel_cancer_trials.pdf (https://www.usx.co.nz/uploads/paperclip/documents/1936/original/Syft_bowel_cancer_trials.pdf?1579047886)

Thanks for the link JT.
Hopefully the library will run another computer course this year...
Can copy announcements for emails,but can't get them on here.

[mfd]

Pay off could be pretty incredible if widely adopted across GPs, although that's obviously many years and several clinical trials away. People say that medicine moves fast but high technology can take a very long time to filter through unfortunately, even after the trials. Just another possible string in their bow - currently keeping more than busy enough with existing customers and applications.

[Joshuatree]

Thanks for the link JT.
Hopefully the library will run another computer course this year...
Can copy announcements for emails,but can't get them on here.

So youve right clicked on the link, a window opens up with choices, and one left clicks on "copy link"

Then goes to sharetrader reply space, right clicks and window comes up, left click on "Paste "and presto.

PharmaZen_half_year_result_2019_USX.pdf (https://www.usx.co.nz/uploads/paperclip/documents/1859/original/PharmaZen_half_year_result_2019_USX.pdf?1564615796 )

[percy]

Testing?
https://www.usx.co.nz/uploads/paperclip/documents/1936/original/Syft_bowel_cancer_trials.pdf?1579047886
JT That's incredible..Thank you.

[garfy]

Good to see Prof. Kate McGrath appointed Independent Director. She is currently Deputy Vice-Chancellor of University of Technology Sydney. Previously had senior appointments at Victoria University, MacDiamard Institute, and Callaghan Innovation.

And interesting to see Syft Technlogies units are being used in cancer detection research by Imperial College London, Otago University, and Callaghan Institution. Early days, but good to see the advancement of this technology into the medical sphere.

It is all progress.

[kiora]

[QUOTE=percy;785843]SIFT-MS technology drives simplification of bowel cancer screening
15 January 2020 Press Release
Firm: Syft Technologies Limited
Security: Syft Tech Ords
Documents:
Syft_bowel_cancer_trials.pdf


This should be very interesting.Warning it will take years,but I don't think anyone will miss having a colonoscopy.?[/QU
Interesting timing after issuing those shares for something that has being trialed for 2 years

[kiora]

Interesting timing after issuing those shares for something that has being trialed for 2 years

[garfy]

SYFT Quarterly Newsletter shows further progress. The FY result soon - hopefully will be very good news.

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/1978/original/Syft_Quarterly_Newsletter_March_2020.PDF?158518710 5

[garfy]

Thanks for putting the link up, Percy. My computer skills leave something to be desired.

[percy]

Thanks for putting the link up, Percy. My computer skills leave something to be desired.

I am one minute ahead of you thanks to Joshuatree;
Right click on link.
Window opens up,left click link

Sharetrader;
reply space,right click and window comes up,left click paste.

ps I practice by trying it out first on an email to myself.If it works I then come on here and post...lol.
pps No one minds you trying it out on this thread.

[mfd]

Good to see Syft picking up a few bids and the price moving back from the recent lows. Nice update today, all going reasonably well and looks like a good response to the situation.

Interesting that some groups are trying to use Syft tech for covid testing, would be an very fast response compared to other methods if it works. Company doesn't sound too excited about it, they already have more leads than they have capacity.

"When life gives you lemons, you make lemonade! We’re making good lemonade as hard and fast
as we can."

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2007/original/Syft_Covid19_Update_8_May_2020.pdf?1588887005

[revilo]

Looking at Syft share price over the last 3 years you would think the underlying business has not been performing, FY17: $1.45, FY18: $1.13, FY19: $1.10 and the current price at $0.80. However, the EBITDA over these periods has been growing strongly at $0.9m(FY17), $1.4m (FY18) and $5.5m (FY19).

Assuming the FY20 EBITDA is on track we would expect it to be anywhere between $8m to $10m - meaning the current EV/EBITDA ratio is between 6 and 7 times, which is extremely low.

Am I missing something?

[Southern Lad]

Not sure where you get your expectations of a FY20 EBITDA of $8m to $10 from revilo given that at half year they were predicting a full year loss - see https://www.usx.co.nz/uploads/paperclip/documents/1924/original/September_2019_Interim_Results_Announcement.pdf?15 75499888

The company has a large R&D spend and has plenty of potential if they can execute on their plans. It is difficult to value the shares on fundamentals rather it is a question of whether they can successfully commercialise their IP or find a large tech firm that is prepared to pay handsomely to take over Syft to gain control of the IP.

While they have achieved good revenue growth over the last couple of years, I suspect the share price suffers because they have often disappointed to fully deliver to expectations. When they do finally deliver, there should be potential for a good share price lift. Someone has been picking up all sell offers at 80 cents over the last week so there is someone at least who thinks they are a good buy at current prices.

[percy]

Result will be interesting.
Just how big the loss turns out to be,and have they finished the Micron [disruptive] contract.
The road to "non lumpy" earnings is still not insight,or is it.?

[Southern Lad]

Agree Percy but not holding my breath that the FY result will surprise on the upside.

While the quarterly newsletters are a step in the right direction, they haven’t to date provided any substantive insights into how the company is progressing commercially.

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2020/original/Syft_FY2020_Annual_Report.pdf?1591044336
Result is out.
eps well down from 4.91cps to 1.13 cps.
Revenue up 47% to $30.9mil..
Timing of sales has affected revenue and profit.
Of concern is their policy of capitalising development costs.
A great deal of costs have been added to the business in expectation of increased revenue.
Will perhaps get a better picture of how the company is tracking, and a forecast at their agm in August.

[mfd]

Report reads well, the company certainly seems confident about the future. Shame about the lower profits, company will have to show soon that the high revenue growth can turn into higher profits. Couple of highlights:

This is what bad looks like for Syft - 47% revenue growth and generating a profit.

The five-year compound annual growth rate in operational revenue is 52%. In the medium term, we expect our annual revenue growth rate will continue to be around this sort of level with the momentum we have built up gaining strength through greater customer awareness of our products, and an increasing level of interest in the expanding Syft product line.

[Southern Lad]

Will perhaps get a better picture of how the company is tracking, and a forecast at their agm in August.

CEO’s webcast tomorrow (Thursday 4 June) at 3:00 pm may be useful also in getting an insight as to how company is tracking along with near term priorities.

[percy]

CEO’s webcast tomorrow (Thursday 4 June) at 3:00 pm may be useful also in getting an insight as to how company is tracking along with near term priorities.

Thanks for posting,as I had forgotten about it.
Have now registered so "am good to go."

[percy]

Another excellent presentation.
Expect [revenue] 52% growth rate.
Gross margin to increase.
Net profit margin and net profit to increase.
Although they are spending more on research and development,as revenue increases the % spent is not increasing greatly.
Appear to be watching their cash carefully, and allocating capital wisely.

[Southern Lad]

Our man Doug certainly presents a confident view on the future of Syft. There are a number of exciting opportunities ahead and if Syft can capitalise on them today’s 84 cents per share will be a steal. Not without risk but having done your own research you might conclude its worthy a of a place in a balanced portfolio with a weighting appropriate to your risk profile.

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2035/original/Reid_Poole_appointment.pdf?1591923670

[percy]

I note buying interest again in Syft shares.

[Joshuatree]

https://www.usx.co.nz/uploads/paperclip/documents/2020/original/Syft_FY2020_Annual_Report.pdf?1591044336
Result is out.
eps well down from 4.91cps to 1.13 cps.
Revenue up 47% to $30.9mil..
Timing of sales has affected revenue and profit.
Of concern is their policy of capitalising development costs.
A great deal of costs have been added to the business in expectation of increased revenue.
Will perhaps get a better picture of how the company is tracking, and a forecast at their agm in August.

That is the third time ive heard the Timing excuse thats too many for me.Goodluck.
I have never bought back this (and many other) stocks since my Feb 4th selldown.

[percy]

That is the third time ive heard the Timing excuse thats too many for me.Goodluck.
I have never bought back this (and many other) stocks since my Feb 4th selldown.

Well we now know the buying has come from recent appointed director, Jeffery McDowell .
Brought a total of 92,034 at prices from 75 cents to 85 cents.

[percy]

https://usx.co.nz/uploads/paperclip/documents/2038/original/Damien_Fischer_appointment.pdf?1592440369

[mfd]

https://usx.co.nz/uploads/paperclip/documents/2038/original/Damien_Fischer_appointment.pdf?1592440369

A couple of encouraging hires lately - the company is clearly still going hard for growth. Reminds me a little of A2 5 or so years ago when they reinvested all their income back into growth, until they started spewing more cash than they could spend. Obviously very different companies, but let's hope the same happens here.

[percy]

A couple of encouraging hires lately - the company is clearly still going hard for growth. Reminds me a little of A2 5 or so years ago when they reinvested all their income back into growth, until they started spewing more cash than they could spend. Obviously very different companies, but let's hope the same happens here.

Yes going hard for growth,and to achieve that you need great sales people.
These two appear to "have the goods."

[mfd]

More environmental monitoring sales, now to the US. I believe there are quite a few in use in South Korea already, let's hope a few more countries pick up on this. Not Syft's main target audience at the moment but good to see more progress, and another potentially large market starting to develop.

https://www.usx.co.nz/uploads/paperclip/documents/2040/original/Sale_of_unit_to_US_EPA_June_2020.pdf?1592964059

[percy]

More environmental monitoring sales, now to the US. I believe there are quite a few in use in South Korea already, let's hope a few more countries pick up on this. Not Syft's main target audience at the moment but good to see more progress, and another potentially large market starting to develop.

https://www.usx.co.nz/uploads/paperclip/documents/2040/original/Sale_of_unit_to_US_EPA_June_2020.pdf?1592964059

Positive and good seeing the share price back up to $1.00.

[garfy]

Growing_Christchurch_company_Syft_Technologies_mov es_into_City_Centre.pdf (https://www.usx.co.nz/uploads/paperclip/documents/2055/original/Growing_Christchurch_company_Syft_Technologies_mov es_into_City_Centre.pdf?1595550846)

SYFT Technologies moving into new premises in Christchurch CBD. Interesting. Would I be right in presuming that this would be a "front of house" move, rather than the whole enterprise?

[percy]

Growing_Christchurch_company_Syft_Technologies_mov es_into_City_Centre.pdf (https://www.usx.co.nz/uploads/paperclip/documents/2055/original/Growing_Christchurch_company_Syft_Technologies_mov es_into_City_Centre.pdf?1595550846)

SYFT Technologies moving into new premises in Christchurch CBD. Interesting. Would I be right in presuming that this would be a "front of house" move, rather than the whole enterprise?
I took it to be the whole shooting box.Everything under the one roof.

[Southern Lad]

Significant volume in Syft traded on Unlisted so far today (as at 12:55 pm) - 345,000 at $1.15.

Just someone accumulating a position or something bigger at play?

[percy]

I am pleased to see the good volumes going through at $1.15.
Although some one is buying,some one else is selling.
Current price means the buyer is the keener party.?...lol.

[percy]

385,000 traded at $1.15 on 16th August.
10,750 traded so far today at $1.20.

[macduffy]

Been doing a bit of DYOR on Syft and think I have a basic understanding of what they are about, but - Is there any element of recurring sales, such as FPH have with their consumables - or are sales 100% new instruments? There doesn't appear to be any mention of the former, nor any sales breakdown, as far as I can see. Comments welcome and appreciated!

[percy]

https://usx.co.nz/uploads/paperclip/documents/1867/original/FY2019_AGM_Presentation.pdf?1566272001

Last year's agm presentation may help.
New instruments ,but look at the big number of vital sectors they cover.

[macduffy]

Thanks, percy. I'd missed that. First time I've seen Sales and R&D spend added together in one number, though.

[percy]

https://usx.co.nz/uploads/paperclip/documents/2023/original/FY2020_Investor_Update.pdf?1591238996

More reading.
"real time" Syft instruments analysis in 'real time'.The old way was to collect air samples,send to be analysed by a lab, and get an answer in a day or two.
Syft instruments do it in real time.ie then and there all the time,.
We then can figure out just how important "real time" is to Syft's customers.
R&D spend with sales.Yes an odd thing.
Not sure I can explain what I want to.They see so many opportunities in so many sectors.At present the semiconductor sector is giving them a lot of sales.They expect "environment" in the medium term,long term "breath".So although a sector may not be working for them they are keeping up their R&D expenditure.
Any profits will be reinvested in the business.We will never see a divie.

One other thing that gives me confidence is the calibre of the board and the CEO.
As an aside ACC is a major [active] shareholder.

This is an interesting recent appointment.[makes sense]
shareholder.https://usx.co.nz/uploads/paperclip/documents/2035/original/Reid_Poole_appointment.pdf?1591923670

[mfd]

I'm not sure I fully agree - I think we will see a dividend once the company reaches the target of a billion dollars revenue. Could be a few years yet but I'm feeling patient.

[percy]

I'm not sure I fully agree - I think we will see a dividend once the company reaches the target of a billion dollars revenue. Could be a few years yet but I'm feeling patient.

Hope you are right.
Bring on the billion dollar revenue...!!!.

[percy]

Sales today at $1.20.
Currently buyer is at $1.20, and there is a seller at $1.30.

[garfy]

It is very pleasing to see that SYF shares are holding at $1.20. I have really enjoyed seeing the development of this company - the approach 'management' has taken to the companies development has been very measured, and along sound business lines. I hope I live to see the magic Million dollar sales!! Thank you for your updates, both here and PAZ, and SFF - companies which actually proved more interest to me than a lot of companies on the main NZX.

[Southern Lad]

Should we read anything into the absence of the 2020 Annual General Meeting so far. Is something up that means there is an incentive to delay it? The two most recent AGM’s were held on 20 August 2019 and 21 August 2018.

The 2020 annual report was released three months ago on 2 June but I haven’t even seen a notice of meeting for the 2020 AGM yet. What is holding this up? I understand that under the Companies Act 1993 that an AGM must be held within six months of balance date, although there may be some COVID-19 extensions allowed this year.

Either way, we are due for a further shareholder update.

[percy]

Should we read anything into the absence of the 2020 Annual General Meeting so far. Is something up that means there is an incentive to delay it? The two most recent AGM’s were held on 20 August 2019 and 21 August 2018.

The 2020 annual report was released three months ago on 2 June but I haven’t even seen a notice of meeting for the 2020 AGM yet. What is holding this up? I understand that under the Companies Act 1993 that an AGM must be held within six months of balance date, although there may be some COVID-19 extensions allowed this year.

Either way, we are due for a further shareholder update.
I phoned the company.
Notice of meeting will be sent out shortly.
The date of the agm is 25th September.

[Southern Lad]

I phoned the company.
Notice of meeting will be sent out shortly.
The date of the agm is 25th September.

Cheers Percy. Will be interested to see if there is anything ‘out of the ordinary’ in the notice of meeting.

[Southern Lad]

Cheers Percy. Will be interested to see if there is anything ‘out of the ordinary’ in the notice of meeting.

AGM notice is finally out, no business of any particular note. Guess the company has just been busy getting on with creating value for shareholders.

I see another 200,000 shares traded at $1.20 this morning, so someone is building a sizeable stake.

[macduffy]

AGM notice is finally out, no business of any particular note. Guess the company has just been busy getting on with creating value for shareholders.

I see another 200,000 shares traded at $1.20 this morning, so someone is building a sizeable stake.

And last trade at $1.30. I guess I've got to treat this as one that got away.

:mellow:

[percy]

And last trade at $1.30. I guess I've got to treat this as one that got away.

:mellow:

Not so..............Still 70,000 available at $1.30............................................. ...lol.

[percy]

Well there was a window of opportunity today at $1.25.
Trust it was a cunning Sharetrader member who took it.

[Southern Lad]

I note that Rangatira Ltd disclosed a shareholding if Syft worth $0.1m (rounded) in their March 2020 annual report. Maybe they have continued to build on their shareholding stake since then?

[percy]

I note that Rangatira Ltd disclosed a shareholding if Syft worth $0.1m (rounded) in their March 2020 annual report. Maybe they have continued to build on their shareholding stake since then?

Very interesting.
I would think they will have added to that.

[percy]

I will be watching the agm on line tomorrow afternoon.

[garfy]

You and me both, Percy!! I like the progress of this company.... long may it continue. Tomorrow will tell a bit more of the story.

[percy]

Perhaps I may have learnt something had I attended the agm in person.
The live stream was extremely disappointing because of it's poor quality .
https://usx.co.nz/uploads/paperclip/documents/2102/original/Syft_FY2020_AGM_Presentation.pdf?1601006402

[garfy]

I agree it wasn't the most professional 'stream' I have seen.....

But SYFT still seems on track to make an extremely valuable inclusion to a portfolio. Their approach to balancing R&D and commerce impresses me, and the personnel they have with the enthusiasm....... They don't have many "runs on the board" at this stage... I hope I have enough years ahead of me to see this one out! If 'one other' University-started company had approached their commercialisation with the attention to all aspects of 'business' ...
Overall, I was pretty impressed by the presentation, and their forward projections.

[Southern Lad]

Doug Hastie's reappointment as a director failed to pass at AGM and he has resigned as CEO:

https://usx.co.nz/uploads/paperclip/documents/2104/original/Syft_Announcement_28.09.2020.pdf?1601264109

29.4 million votes against suggest there was an orchestrated campaign to remove him.

Presumably frustration with a lack of substantive progress.

[percy]

He made a funny comment during the meeting along the lines "if you don't like what I am doing vote against me",which a lot of people did.!!
I do not know what must have gone on behind the scenes, but he was responsible for turning "a dead duck into a going concern.".
However, as you pointed out there must have been "an orchestrated campaign to remove him".Considering he held a large shareholding it must have been very well organised,and included major shareholders..
I think we shareholders are lucky having Al Monro as chairman to step into the CEO's role, with his back ground to guide the business.
I expect the share price will be under a lot of pressure with Doug Hastie wanting out.
We live interesting times.
I will hang onto my shares as I feel the business has excellent prospects.

[garfy]

Bugger!!!! I am very sorry to hear of this internal strife. When this type of power play occurs there are two 'camps' wanting to go in different directions. I have been impressed by the way SYFT has produced their products to international standards, and have been very involved in R & D, but also ensuring that the product has a marketing stream - science and sales moving in a complimentary manner. (What if PEB had the same approach...?)

SYFT is growing - and now I think the battle is Science v. Sales. I still think this company can, and will, become a market leader in its field.

I hope they sort the difficulties out quickly. My sympathy also goes to Doug Hastie, who has grown the company to its present stage. Sometimes leaders can overstep the mark.... Best wishes to all.

[Czechmate]

Hmm the last two presentations I went to gave me the feeling Doug thought it was his show and not that worried about shareholders wanting to see value reflected in the near term. So fell on his sword so to speak. Interesting times.

[Southern Lad]

29.4 million votes against suggest there was an orchestrated campaign to remove him.

Looking at the ten largest shareholders detailed in the 2020 Annual Report we have:

ACC 11,670,738
Doug Hastie 11,253,981
Whale Watch Kaikoura (Ngai Tahu) 8,725,000
Douglas Ziffel & Snoot (New York) Ltd 4,400,000
Collins, Dwyer & Bill Parsons Trustee Ltd 3,000,000
Wing Kai Leung 2,168,783
Iconic Investments Ltd 2,108,706
Opihi Investments Ltd 2,062,447
Forsyth Barr Custodians Ltd 1,277,044
Maarteen Janssen 1,223,505

29.4 million votes against is a very substantial voting block.

Does the dissatisfaction explain the delay in the AGM notice being issued as the protagonists and Doug Hastie sought to work out their differences?

[percy]

Would have taken a lot of organising getting that voting block.
Would really have needed No.1 and No.3 shareholders onboard.
The fact the vote was not a show of hands tells me it was not unexpected.ie The chairman did say the results would be announced on Monday.
No.1 shareholder has had a lot of impute in the business.ie have a director.
It would appear it was Doug's way or the highway.Shareholders voted the highway.

[pedro.nz]

The Herald reports that ACC, the largest shareholder, was behind the power play.
The head of ACC private markets lost his board seat last year so who knows what has been going on...

Disc:- Long time shareholder

[percy]

Well Doug's departure has spooked the market.
One buyer for 661 shares at 60 cents.
Lowest seller with 50,000 is at $1.25.
It is a times like this, we are reminded of that great definition of a long term hold......A short term one that did not work out......lol.

[pedro.nz]

Well Doug's departure has spooked the market.
One buyer for 661 shares at 60 cents.
Lowest seller with 50,000 is at $1.25.
It is a times like this, we are reminded of that great definition of a long term hold......A short term one that did not work out......lol.

not wrong there ;)

[percy]

https://usx.co.nz/uploads/paperclip/documents/2112/original/Market_update_5_October_2020.pdf?1601868067

[Southern Lad]

A good announcement from SYF, seeking to provide reassurance that there is nothing to see here following the dumping of Doug Hastie.

The Board have strong credentials and experience. Damien Fischer also looks like a good appointment. Interesting that the announcement today also has Nicole Robinson’s name on it, suggesting she is onside with the change (or maybe I’m reading too much into that?).

Im hopeful that a new CEO will accelerate the commercial progress of the company. Fingers crossed they can recruit a candidate with the appropriate talent, connections and drive. Through an equity sweetener as part of the remuneration package, there should be plenty of upside if the new CEO can drive shareholder value.

Will be interesting to see where the share price goes over the next few months, however Doug Hastie’s stake is a large overhang until it finds a buyer.

[percy]

306,000 shares traded today at 80 cents.From last previous sale of $1.25 we have seen Syft's market cap fall in one day $33.267 mil.
ie down 45 cents with 73,925,992 shares on issue.
I would doubt it is Doug Hastie selling on market,however I think it will put pressure on the price he will receive for his 11,253,981 shares .

[Southern Lad]

I’m assuming it would be in Doug Hastie’s best interests to find a trade buyer for his 15% stake - dumping the shares into a relatively illiquid secondary market will take some time to move and only put further pressure on the share price.

If I were Doug, I’d be looking for an industry player or a venture capital fund who believes there is some upside. Maybe the large shareholders who rolled Doug believe in the future without him and are prepared to double down?

[percy]

I’m assuming it would be in Doug Hastie’s best interests to find a trade buyer for his 15% stake - dumping the shares into a relatively illiquid secondary market will take some time to move and only put further pressure on the share price.

If I were Doug, I’d be looking for an industry player or a venture capital fund who believes there is some upside. Maybe the large shareholders who rolled Doug believe in the future without him and are prepared to double down?

The large shareholders who rolled Doug have seen the value of their shares fall 36% today.
I trust they have a buyer/buyers for Doug's shares.
Be interesting seeing at what price.
I had thought of adding to my holding, in the expectation the rollers had a plan to see Syft progress more positively.
However I will sit on the sidelines until the dust settles,as I do not add to a losing position,yet I think Syft have all the ingredients to be very successful.

[Valiant]

I’m assuming it would be in Doug Hastie’s best interests to find a trade buyer for his 15% stake - dumping the shares into a relatively illiquid secondary market will take some time to move and only put further pressure on the share price.

If I were Doug, I’d be looking for an industry player or a venture capital fund who believes there is some upside. Maybe the large shareholders who rolled Doug believe in the future without him and are prepared to double down?


Does anyone have any insights whether Doug Hastie has been moving his stake or not? From what I can see the number of trades and volume through USX has been small over the past month. I agree with Southern Lad that he's better off approaching a VC, fund or potentially existing substantial shareholder.

I also note from my review of their 5th October market announcement that the half year results should be out this coming week. Any insights whether the impacts from Covid they had previously noted have continued? If they haven't been able to get to customers and make installments then I'd say this will impact them significantly.

[percy]

Result announcement.
https://usx.co.nz/uploads/paperclip/documents/2163/original/Syft_Interim_Results_Announcement_-_September_2020.pdf?1606176011

Interim Report;
https://usx.co.nz/uploads/paperclip/documents/2163/original/Syft_Interim_Report_2021.pdf?1606176011

Still profitable,with a strong balance sheet,however cash flow is negative,and the move to a greater service model will add to overheads.

[mfd]

I thought the results were fairly respectable in the circumstances but certainly a big drop in growth. Share price has been absolutely hammered since Hastie was shown the door, I am wondering whether to top up at these prices. Huge potential if they can stay on track.

[kiora]

What put me off last time I looked at this company was their low stock turnover.
Is it/will it improve?
Even the best technology will drop out of sight if not enough stock can be sold

[mfd]

I believe their current problem is more opportunities than they can explore and they have been going hard to increase production. Hopefully moving to the new building will help with that.

Until covid, growth was pretty exceptional and expected to continue with ambitious long term targets (1 billion in revenue). They are currently working hard in environmental monitoring and semiconductor manufacturers, but there are plenty of other areas they can explore when they have the capacity and freedom to travel for sales and installations.

[kiora]

Sounds great but
Sales $14m,inventories $7 m? So they have 6 months worth of inventories?
Trade & other receivables $9m nearly 60 % of annual sales?
If they sell $1.1m/month they are waiting 8 months to collect their money ?

Is this too simple a summary ?

Sadly, it just does not conjure up a company going anywhere fast. No wonder the board? was not happy.

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2169/original/Rose_Smith_appointment_as_VP_of_Product_Developmen t_%281%29.pdf?1607287602
Looks to be an excellent appointment.

[Valiant]

Agreed, looks to be a sounds appointment Percy.

I also see Syft trading at / near all time lows? I've been searching for reasons to take a position in Syft but was left feeling fairly underwhelmed following the interim announcement. Looking forward to see who they pick to take the reins and to see what their vision is for the company.

If the share price continues to drop at some point I might just have to dive in.


Anyone have insights into what Doug Hastie is up to with his large shareholding?

[Jos Naylor]

European appointment

https://media.graphcms.com/qld3i68LTumVwviV6Z7M

[whatsup]

MU has blow out result last night in the U S, will it flow on to SYFT ?

[garfy]

I have been interested in SYFT for quite a while. And was impressed with the technology and organisation , from 'afar' it seemed to be a very innovative and progressive company.
Well all that stopped abruptly when the CEO, and major shareholder '"vanished". And the SP dropped accordingly.... bugger.
But the last few months have indicated that the company is alive and well, with new appointments, and a bulletin now coming out. The SP has picked up.

Any observations from ChCh would be be very welcome.

[percy]

https://usx.co.nz/uploads/paperclip/documents/2198/original/Syft_Investor_Newsletter_January_2021.pdf?16104139 14
The latest newsletter seemed very positive.
Changing their business model from just machine sales, to machine sales and service, will add to costs in the short term.
Longer term we will have to wait and see.
I think having Al Monroe as Chairman is positive.Also the board appears to be made up with capable people.

[garfy]

Thank you Percy for your reply. A pity about Doug Hastie but....... I still think that this will be a business that will progress markedly with time, and I am certainly pleased to have a modest holding. Happy to have SYF and PAZ in my stable!

[Southern Lad]

Director Michael Bushell purchased an additional 44,000 shares at an average of 67.14 cps in mid December - https://www.usx.co.nz/uploads/paperclip/documents/2204/original/Director_Disclosure_notice_-_Michael_Bushell.pdf?1612146848

A positive sign to the market, albeit at a pretty low price given recent trading ranges. Presumably the market is looking for a new CEO appointment and confirmation on future strategy before the share price will show any further recovery.

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2209/original/Alex_Fala_CEO_Appointment.pdf?1613076554
An outstanding appointment.

[Southern Lad]

Pleased to see a CEO appointment has been made, although immediately met with a minor share price fall!

After a bedding in time and an understanding of Syft’s product and business opportunities has been gained, I look forward to some clear articulation of future strategy.

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2262/original/Syft_Technologies_Annual_Report_FY2021.PDF?1621886 800
Well came through Covid challenges profitable,however plenty of challenges going forward.
Plenty of "well positioned" so lets hope so.?

[garfy]

Yes, not a bad result. I thought Percy would like the "well positioned" wordage in the report. I had hoped that this would go on a similar financial path as PAZ, but after the CEO "vanished", and Covid came along, it has been a struggle. Still, a good basis for the future, a good product, good personnel - the struggle is all ahead of them.

[Southern Lad]

Chairman Al Munro purchased 60,000 shares at 80 cps earlier in the week. This is a good sign of confidence, especially given this is his first shareholding in Syft.

I watched the Shareholder Briefing earlier in the week. Alex Fala came across well and appears to be on top of his stock take on where things are at. Looking forward to the strategy update scheduled for July.

[Arthur]

I took it as a good sign that despite the teething issues Micron has ordered more.

[macduffy]

Alex Faia comments on the NZ economy.

https://www.stuff.co.nz/business/the-monitor/125486214/the-monitor-economy-qa-syft-technologies-ceo-alex-fala

[percy]

Another positive announcement.
https://www.usx.co.nz/uploads/paperclip/documents/2310/original/Syft_Investor_Update_July_2021.pdf?1627588951

[percy]

https://syft.us13.list-manage.com/track/click?u=50b335e238a94ab7c21891b4f&id=ba32c188cb&e=7afb1ca694
Looks as though the AGM on 2nd September is going to be a battle between Doug Hastie and the board.

[garfy]

“The Cracken Wakes” - a great read by John Wyndham. I am pleased to see that some explanation for Doug Hastie’s sudden departure, especially when SFYT was progressing well/remarkably. And the slow slip into today’s lethargy….. for the companies sake idohope the air is cleared.
I look forward to the AGM.
And I wish the company well.

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2329/original/Mr_Hastie's_Business_Commentary.pdf?1629259601
I expect there will be fireworks at the agm.

[kiora]

Sad
It is very unlikely to end well for the company

[RupertBear]

https://www.usx.co.nz/uploads/paperclip/documents/2329/original/Mr_Hastie's_Business_Commentary.pdf?1629259601
I expect there will be fireworks at the agm.

WOW! Yes fireworks indeed! BOOM :eek2:

[garfy]

Shareholders would have received the email from two very knowledgeable people. Since Mr Hasties ‘departure’, Syft has drifted…..downward. And at last some explanation for the unexplained events over the last year or more is on the horizon.
I am not at home at present, trapped by COVID, so am not in my ‘comfort zone’ where I would be better organised to reply very positively to Doug Hastie’s response. This company could be a game breaker - under the previous management!

[percy]

Shareholders would have received the email from two very knowledgeable people. Since Mr Hasties ‘departure’, Syft has drifted…..downward. And at last some explanation for the unexplained events over the last year or more is on the horizon.
I am not at home at present, trapped by COVID, so am not in my ‘comfort zone’ where I would be better organised to reply very positively to Doug Hastie’s response. This company could be a game breaker - under the previous management!

The Chairman and the board together with major shareholders do not want Doug Hastie on board.
Doug Hastie does not want The Chairman onboard.
Small shareholder Percy has jumped ship.

[macduffy]

The Chairman and the board together with major shareholders do not want Doug Hastie on board.
Doug Hastie does not want The Chairman onboard.
Small shareholder Percy has jumped ship.

This small shareholder "went ashore" last week. Too old to get involved in any fights!

:mellow:

[RupertBear]

The Chairman and the board together with major shareholders do not want Doug Hastie on board.
Doug Hastie does not want The Chairman onboard.
Small shareholder Percy has jumped ship.

The Bear jumped ship yesterday as well, dont like **** fights

[kiora]

**** fights rarely increase profits
I would have jumped too if I owned.
Way back when I looked at this Co. stock turn was abysmal

[percy]

**** fights rarely increase profits
I would have jumped too if I owned.
Way back when I looked at this Co. stock turn was abysmal

https://usx.co.nz/symbol/syf

War of words just warmed up.

[kiora]

"Syft Technologies has had a strong start to the first half of its financial year commencing 1 April 2021, with total orders of $20.0m received already and more than a month to go in the half. This compares very favourably with the $28.8m revenue received in all of FY2021.

But what revenue?
Orders for when?
https://usx.co.nz/uploads/paperclip/documents/2310/original/Syft_Investor_Update_July_2021.pdf?1627588951

[Sideshow Bob]

9.2m just went through at 75c!!

[percy]

9.2m just went through at 75c!!
Doug looks to have sold.

9268581 shares (12.82%)

Douglas HASTIE

[mfd]

Much as he did good work stabilising the company, this is probably for the best to allow them to move forward.

[whatsup]

So where to from here ?

[Sideshow Bob]

So where to from here ?

Less fireworks at the (virtual) AGM on Thursday.....:sleep:

[Southern Lad]

Any picks on who purchaser(s) of the 12% stake at 75 CPS is?

[percy]

Any picks on who purchaser(s) of the 12% stake at 75 CPS is?

ACC ,, Colin Neale,or Al Monroe..

[Southern Lad]

The 75 CPS transaction price indicates that the seller was driving the deal rather than a purchaser approaching Doug with an offer he couldn't refuse. If it is Doug who has sold, suggests the numbers were against him for Thursday's votes.

Whoever has purchased, I hope they are a supportive and stable shareholder. Given the Freightways accrual of additional amounts due for the Big Chill earn out, Colin Neale probably is looking for a home for some spare cash.

[kiora]

ACC ,, Colin Neale,or Al Monroe..

Mike Daniel?

[Sideshow Bob]

Syft_Market_Announcement_to_Shareholders.pdf (usx.co.nz) (https://www.usx.co.nz/uploads/paperclip/documents/2344/original/Syft_Market_Announcement_to_Shareholders.pdf?16303 83128)

Major share transaction and changes to resolutions put to the AGMSyft Technologies (USX:SYF) has been advised by Mr Doug Hastie, that today he has entered into atransaction to sell all of his shares in Syft Technologies and that the sale is required to settle beforethe AGM.

This means that Mr Hastie will not be a shareholder of Syft at the time of the AGM.Mr Hastie has also advised that (if the transaction settles), Resolution 8 of the extraordinary businessof the meeting (being the resolution that Mr Hastie be appointed a Director) is to be withdrawn.

Accordingly this resolution will no longer be put to the meeting if the transaction settles.

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2349/original/Syft_Technologies_AGM_2021.pdf?1630543611

[Southern Lad]

Based on proxy votes, all of Doug Hastie's resolutions failed to pass. Doug didn't make any substantive comment other than to note he had voted with his feet. Formal result on resolutions to be announced tomorrow.

Alex Fala sounded like he is making a difference, and presented a clear strategy to move the opportunity forward. As the presentation notes, SYF still in a 'consolidate' phase for the next six to twelve months.

[Southern Lad]

ACC ,, Colin Neale,or Al Monroe..

The Companies Office shareholding details have been updated, which indicate Doug Hastie's 9.26m shares were sold to:

ACC - 2.5m shares (to take them to 19.84%)
Forsyth Barr Custodians Ltd - 2.0m shares
Leveraged Equities Finance Ltd - 1.5m shares
Olaf Eady - 0.6m shares
Mike Bushell (director) - 0.7m shares
Louise Paterson - 0.6m shares
William Johnstone - 0.7m shares

[percy]

The Companies Office shareholding details have been updated, which indicate Doug Hastie's 9.26m shares were sold to:

ACC - 2.5m shares (to take them to 19.84%)
Forsyth Barr Custodians Ltd - 2.0m shares
Leveraged Equities Finance Ltd - 1.5m shares
Olaf Eady - 0.6m shares
Mike Bushell (director) - 0.7m shares
Louise Paterson - 0.6m shares
William Johnstone - 0.7m shares

Interesting,thanks for posting.
Looks as though Forbar had a good bit to do with it along with ACC.
What is therefore surprising is the support Doug's motions received at the agm.

[Sideshow Bob]

Syft_Interim_Report_2022.pdf (usx.co.nz) (https://www.usx.co.nz/uploads/paperclip/documents/2423/original/Syft_Interim_Report_2022.pdf?1637092574)
Syft_Interim_Results_Announcement_2022.pdf (usx.co.nz) (https://www.usx.co.nz/uploads/paperclip/documents/2423/original/Syft_Interim_Results_Announcement_2022.pdf?1637092 574)

The first half of FY2022 has seen a strong return to growth at Syft with operating revenue up 34% over the first half of FY2021.

Financial performance

The highlight of the first half result was a 56% increase in gross profit compared to the same period last year (from $7.1m to $11.1m). This is driven by 34% growth in operating revenue and an 8-point increase in our gross margin (from 46% to 54%). Combined with a pragmatic approach to costs, the business delivered $3.2m in operating profit.Revenue growth was primarily driven by momentum in our existing semiconductor relationships, and increased contribution from US/Europe as the period progressed.The improvement in gross margin was largely due to the more stable relationship at Micron, which allowed support costs to settle to a more ‘steady state’ level.

Operating expenses increased by $1.8m (vs H1 FY2021) primarily due to the costs associated with the lease of the new facility and foreign exchange losses on financial instruments held in line with the Company FX hedging policy. This was offset by increased capitalisation of development costs.More broadly, Management took a conservative approach to operational investment in H1, as a prudent measure as we built more certainty around revenue results. Investment will increase in the second half of the year as we execute on our growth strategy.

Operations
Product development has continued at a good cadence. Much of the near-term benefit of this has been seen in stabilisation of the Micron relationship, and improvements in gross margin. We have now moved beyond stabilisation to delivering on changes to the architecture of our core platform that will enable future innovation, in line with our strategy.Aaron Latimer joined the business on 1 November as Vice President of Operations. He is responsible for all manufacturing, supply chain and global support (collaborating with our in-market teams).

OutlookSyft has had a strong H1 and the signs are positive for the remainder of the year. There are sufficient deals in the pipeline to generate continued revenue growth. However, this includes a number of large deals which create significant uncertainty about the level and timing of revenue delivery. As above, we intend to increase investment in H2, particularly in product development and support

[Arthur]

Unusual to see a company with such high potential growth trade on such low multiples. They now have capacity to produce five times as many as they did in the old premises. Will it run like Rakon when the market eventually wakes up?

[macduffy]

Unusual to see a company with such high potential growth trade on such low multiples. They now have capacity to produce five times as many as they did in the old premises. Will it run like Rakon when the market eventually wakes up?

The key, of course, is that word "potential".

I hold a few.

[percy]

An excellent result.
495,247 shares traded so far today with 350,000 traded at $1.00 while the rest traded at $1.08.
Financials looked to be in good shape.

[whatsup]

An excellent result.
495,247 shares traded so far today with 350,000 traded at $1.00 while the rest traded at $1.08.
Financials looked to be in good shape.

795,000 now who is the setter ?

[mfd]

An excellent result.
495,247 shares traded so far today with 350,000 traded at $1.00 while the rest traded at $1.08.
Financials looked to be in good shape.

Some of the buying was the chairman and CEO buying 100k shares each. Promising.

[percy]

https://syft.us13.list-manage.com/track/click?u=50b335e238a94ab7c21891b4f&id=ad1f93fb42&e=7afb1ca694

This put a rocket under the share price.
Maybe I should never have sold..lol

[mfd]

https://syft.us13.list-manage.com/track/click?u=50b335e238a94ab7c21891b4f&id=ad1f93fb42&e=7afb1ca694

This put a rocket under the share price.
Maybe I should never have sold..lol

Looks like a great match, new board member with experience on scaling mass spectrometry and other analytical device businesses. New investor with experience in life sciences and healthcare which Syft have dabbled with and have a lot of potential in - they've just been fully focused on the semi conductor opportunity until now. This funding boost should help them spread the focus.

[pedro.nz]

Anybody going to the factory tours on the 10th - should be very interesting- looking forward to it (very long time holder)

[percy]

https://usx.co.nz/uploads/paperclip/documents/2600/original/Syft_Trading_Update_July_2022.pdf?1657505963

[kiora]

Seems a bit out of sync this "major Semiconductor customers " & H1 revenue is projected to be similar or slightly lower than the $13.4m revenue achieved in the last half year (H2 of FY2022) ?

Achieving & anticipation are two different beasts. Do they really need to talk up future sales? Where oh where have we heard that before?

[Sideshow Bob]

https://www.usx.co.nz/uploads/paperclip/documents/2723/original/Syft_Technologies_FY2023_Interim_Results_Announcem ent..pdf?1669147241

https://www.usx.co.nz/uploads/paperclip/documents/2723/original/Syft_Technologies_FY2023_Interim_Report.pdf?166914 7241

[percy]

https://www.usx.co.nz/uploads/paperclip/documents/2723/original/Syft_Technologies_FY2023_Interim_Results_Announcem ent..pdf?1669147241

https://www.usx.co.nz/uploads/paperclip/documents/2723/original/Syft_Technologies_FY2023_Interim_Report.pdf?166914 7241

A shocker..............

[iceman]

Don't follow this company but seeing Percy & SB show it interest, I read through recent reports. Percy, I think "shocker" is a kind word for their recent performance

[kiora]

**** fights rarely increase profits
I would have jumped too if I owned.
Way back when I looked at this Co. stock turn was abysmal

From 24-08-2021

The warning signs where there way back here.

[winner69]

Things still not good at Syft

https://www.usx.co.nz/uploads/paperclip/documents/2768/original/Syft_Business_Update_-_February_2023.pdf?1675887377

[whatsup]

According to todays Stuff paper 20 workers laid off due to softer order line but rest of biz is O K.

[winner69]

According to todays Stuff paper 20 workers laid off due to softer order line but rest of biz is O K.

20% of the workforce they said and a ‘material loss’ this year

Yep, all ok

[Southern Lad]

Syft has been very quiet with its USX announcements since the market update issued on 9 February. Annual results announcements was made in May the last two years and the first few days of June the year before that. We’re now into the last week of June and there hasn’t been any further update. Assume this is not good and maybe a sign that a capital raise is being lined up as part of the results announcement. Share price continues to drift - last sale 28 cents giving a market cap of $25 million.

Hard to believe it’s only 15 months since Ampersand turned up and subscribed for 17 million convertible preference shares at $1.30 each. Assume given Ampersand shares are preference shares, the tough trading conditions means that the ordinary shareholders are being hung out to dry because of Ampersand’s preferred position.

[percy]

https://usx.co.nz/uploads/paperclip/documents/2854/original/Syft_Technologies_Business_Update_-_June_2023.pdf?1687726683

[Sideshow Bob]

Shareholder Q&A....

https://www.usx.co.nz/uploads/paperclip/documents/2870/original/Shareholder_Q_A_presentation_-_July_2023.pdf?1689552455

[whatsup]

Is this out fit O K, is there a list of the Convert Note Holders ?

[kiora]

Sadly....... doesn't look like it is OK

[whatsup]

Sadly....... doesn't look like it is OK

Im surprised that the S P is holding up as well as it is unless the note holders dont fall into line imo this outfit has big questions to ask, like --- -- --- ?

[Sideshow Bob]

https://www.usx.co.nz/uploads/paperclip/documents/2873/original/Polling_results_%28July_2023%29_and_Independent_ad visor_appointment.pdf?1689904425

[whatsup]

https://www.usx.co.nz/uploads/paperclip/documents/2873/original/Polling_results_%28July_2023%29_and_Independent_ad visor_appointment.pdf?1689904425

Massive dilution, chip chip chipping away at the current S P !!

[Sideshow Bob]

CEO leaving......

https://www.usx.co.nz/uploads/paperclip/documents/2897/original/Syft_Technologies_%E2%80%93_Resignation_of_Chief_F inancial_Officer.pdf?1692065130

[Southern Lad]

Sorry to see the CFO Nicole leave. Interesting only looking for an interim replacement while review of the future is concluded. Alex, the CEO, still in the role.

[percy]

Interim result.

https://prod-trade.usx.co.nz/api/file/65557fcd34a367b314f83fec.pdf

[percy]

https://prod-trade.usx.co.nz/api/file/65ce6bb07b7189fb73e9dc28.pdf

[whatsup]

https://prod-trade.usx.co.nz/api/file/65ce6bb07b7189fb73e9dc28.pdf

Not good IMHO, they continue to miss their numbers !