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CYT - Cynotech
A bit of a jump in the share price today - up 14% - on reasonable volume too.
My guess is that the recoveries on the National Finance debt ledger are going better than expected. This could more than offset the expected slowdown in Merlin Foods.
Any other thoughts out there?
Disc: Holder of CYT
Death will be reality, Life is just an illusion.
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Member
I'd go along with that.
I'm also a holder, from the Rocom days. Must confess at times it was a reluctant one, as the liquidity was so poor it wasn't possible to bail out and buy back in when it hit support.
Recent actions give me confidence its on the right track. Hawkins seems to be taking a most conservative approach. I did wonder today what percentage jump in price and volume is needed before the exchange asks if there is anything we should know.
It would be reassuring to see an announcement that things were indeed going "better than expected".
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Member
for some time now it has been ranging from 8 to 16 cents and then since new year from 15c worked its way up to now 20c which is in fact a lift of 33 %. Your explanation that the collecables must be better than anticipated is likely true. For some continuety go back 16 pages under the previous name of ROC
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I thought those ROC threads were a bit dated and it effectively a different company now especially given the size of the ledger purchased.
Anyway, I thought it was more appropriate to make it a CYT thread!
Death will be reality, Life is just an illusion.
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Member
SSH Notice
Can someone enlighten me as to what todays SSH notice actually means. As a TA rather than a Fundamentals person I've never taken much notice of significant shareholders, directors interests etc.
I figure if it was important it will show in the price and volume.
However Cynotech has turned into a buy and hold stock for me, and my ignorance here is hurting.
Has Guardian Trust just sold shares it held on its own account, or that they were just holding some for someone else.
Given the price has been going up buyers must be keener than sellers, but if it was an insider selling I'd like to know that.
Any ideas?
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Member
Some of my questions answered with release of latest SSH notice.
Briggs increased holdings from 5.86 to 16.3% via on and off market purchases.
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That should be a good sign, although I believe that he was in the newspaper last year commenting on his loss on his substantial FTX holding
Death will be reality, Life is just an illusion.
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Does todays announcement mean that the rights issue is off?
Cynotech Holdings Limited has previously announced that it was promoting the listing of Findata Limited on the NZAX.
Time delays in obtaining the necessary approvals and the dollar cost of
obtaining those approvals have become too onerous for the Directors of
Cynotech to rationalise the investment of further resources in this project.
Findata can continue down its chosen path of growth with the resources it
already has in hand and it has been decided that the additional benefits
which could be obtained from the NZAX listing do not equate with the time and dollar costs still necessary to achieve that end and the associated rights
entitlement to the Cynotech shareholders.
The forward structure and development of Findata will be resolved with input
from the Directors of Broker Technology Trust Ltd. Cynotech will continue
with a 20% shareholding at this stage.
Death will be reality, Life is just an illusion.
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Member
Perhaps Findata can use the money saved from the cancelled listing to fix the bugs in their product. 1) Graphs of NZ companies auto-refresh back to 'Today' after a short period of time, if even I have selected a different timeframe. 2) The portfolio tool doesn't cope with UK listed stocks priced in USD, a) because it doesn't seem have up to date prices and b) it doesn't realise that the stocks are quoted in US dollars rather than GB pence.
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CYT has again been purchasing the debt ledgers of failed finance companies. If they recover as well as the first ledger, then it must make the shareprice look cheap?
Death will be reality, Life is just an illusion.
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