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  1. #121
    percy
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    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 .

  2. #122
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    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?

  3. #123
    percy
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    Quote Originally Posted by Southern Lad View Post
    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.
    Last edited by percy; 27-10-2020 at 08:10 PM.

  4. #124
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    Quote Originally Posted by Southern Lad View Post
    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.

  5. #125
    percy
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    Result announcement.
    https://usx.co.nz/uploads/paperclip/...pdf?1606176011

    Interim Report;
    https://usx.co.nz/uploads/paperclip/...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.
    Last edited by percy; 24-11-2020 at 02:16 PM.

  6. #126
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    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.

  7. #127
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    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

  8. #128
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    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.

  9. #129
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    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.
    Last edited by kiora; 26-11-2020 at 09:20 PM.

  10. #130
    percy
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    https://www.usx.co.nz/uploads/paperc...pdf?1607287602
    Looks to be an excellent appointment.

  11. #131
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    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?

  12. #132
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  13. #133
    Guru
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    MU has blow out result last night in the U S, will it flow on to SYFT ?

  14. #134
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    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.

  15. #135
    percy
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    https://usx.co.nz/uploads/paperclip/...pdf?1610413914
    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.

  16. #136
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    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!

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