TSK - TASK Group Holdings

[mikeybycrikey]

There is an obvious, but surprisingly not mentioned here, discrepancy between the CEO's update 28 Sept $7.1m ACMR and the HY Report $6m ACMR (30 Sept basis).

I hadn't picked up on that. Not good. There is no explanation I can come up with where this discrepancy is anything other than a very bad thing.

And if doubts are coming from you, Baa, then it must be bad. You've been a long-time believer in this company.

[Cobber]

There is an obvious, but surprisingly not mentioned here, discrepancy between the CEO's update 28 Sept $7.1m ACMR and the HY Report $6m ACMR (30 Sept basis).

I hope the company clarifies this quickly as both are a very long way from guidance of $10m ACMR. No wonder the SP is buggered on the buy side with bids at half of the current SP! PLX had plenty of good warning, make guidance or get hammered.

PLX really do need to start considering how their market messaging is being interpreted by shareholders. To introduce consideration of a 'buy out' option in the HY Report is imho a white flag capitulation to the more than obvious puppet master Microsoft, who are making plenty large $ on their Plexure Azure hosting, probably way more that Plexure make themselves.

The minnow in the shark pool. It really looks like that it's almost all over for PLX as a listed company, but way too soon. Hopefully Scott, VIX and the Directors aren't open to selling at such a modest return on their current vested capital and forego the prospects and future of the company by selling out.

That would also f*** all current shareholders at the current SP. Why on earth would they even mention, let alone consider a buy out! What a cop out!

Maybe Microsoft do a white knight buy out at 5x or 10x SP ... seems unlikely, why would they at historical low SP and bids at half SP??. More likely they corporate raid PLX with a modest few % above current SP. Despicable!

Scott and Phil need to get on top of this quickly, their company and their future prosperity, and shareholders, seem destined to being highjacked for a pittance, unless they deal to it now.

No one cares about shareholders.

[Balance]

Absolutely agree, it will fall like a brick if they fail the guidance. Can't see it happening though, with $10m ACMR forecast reiterated at least three times, T20's loading up, Vix taking 10.1% position (incidentally at .37 well above the current nervous nelly's share price - and presumably on information us plebs aren't privy to), only 1 quarter to go before the re-rate. Been a long time between drinks with this one, still enough time to build a position. Patience will be rewarded.

Promises, promises - not only have they failed to meet guidance, but by a long shot and with no explanation.

Backdoor listed entities (especially tech ones) have one purpose in their formation - and it ain't looking after minority shareholders who they perceive to be suckers in the first place.

[Cobber]

There is an obvious, but surprisingly not mentioned here, discrepancy between the CEO's update 28 Sept $7.1m ACMR and the HY Report $6m ACMR (30 Sept basis).

I hope the company clarifies this quickly as both are a very long way from guidance of $10m ACMR. No wonder the SP is buggered on the buy side with bids at half of the current SP! PLX had plenty of good warning, make guidance or get hammered.

PLX really do need to start considering how their market messaging is being interpreted by shareholders. To introduce consideration of a 'buy out' option in the HY Report is imho a white flag capitulation to the more than obvious puppet master Microsoft, who are making plenty large $ on their Plexure Azure hosting, probably way more that Plexure make themselves.

The minnow in the shark pool. It really looks like that it's almost all over for PLX as a listed company, but way too soon. Hopefully Scott, VIX and the Directors aren't open to selling at such a modest return on their current vested capital and forego the prospects and future of the company by selling out.

That would also f*** all current shareholders at the current SP. Why on earth would they even mention, let alone consider a buy out! What a cop out!

Maybe Microsoft do a white knight buy out at 5x or 10x SP ... seems unlikely, why would they at historical low SP and bids at half SP??. More likely they corporate raid PLX with a modest few % above current SP. Despicable!

Scott and Phil need to get on top of this quickly, their company and their future prosperity, and shareholders, seem destined to being highjacked for a pittance, unless they deal to it now.

Microsoft aren't going to buy them. They aren't in the business of running a small little marketing platform.

I know factually that AZURE have been spreading money over lots of SaaS companies worldwide giving them access to $$ to make promotional video's, attend tradeshows etc. AZURE is also making ****eloads from companies trying to build electric cars.

They are simply not going to pivot and buy out guys like PLX and then try and work out what to do with it.

I would think GE is the company PLX are lifting their skirts too.

[Dilbert]

Promises, promises - not only have they failed to meet guidance, but by a long shot and with no explanation. .

It amazes me that companies like this go out to the market with such lofty guidance. You miss and get spanked. Surely you are better to under-promise and over-deliver.

[Balance]

It amazes me that companies like this go out to the market with such lofty guidance. You miss and get spanked. Surely you are better to under-promise and over-deliver.

This is a backdoor job so it can only be listed and raise funds through overhyping - there is no other way with this type of company.

The promoters will always get rich by selling out first after hyping the listing up to buggery and leave the punters who believe in tooth fairies and easy monies to carry the expectations and keep funding the company.

Happens every bull cycle and they never learn.

[Cobber]

It amazes me that companies like this go out to the market with such lofty guidance. You miss and get spanked. Surely you are better to under-promise and over-deliver.

29 Sept the Chairman stated "As of today, our ACMR is sitting at approximately $NZ7.1M, up from$NZ5.4M at 31 March 2016."

YET the interim report announcement states :

"For the six months ended 30 September 2016, total revenue grew 9% over the same period last year, to $3,602k. During the same period operating revenue grew 32% to $3,348k reflecting the growth in the underlying business. Annualised Committed Monthly Revenue (ACMR – recurring revenue) grew to $6,004k, an increase of 25% over the same period in 2015."

1 million dollars in ACMR was overstated to the market 60 days ago. Surely the NZX should be investigating.

[Baa_Baa]

.. 1 million dollars in ACMR was overstated to the market 60 days ago. Surely the NZX should be investigating.

Or ~$1m was under reported in the HY results, it could be a simple mistake, have you thought of that possibility? No doubt all will be clarified soon enough.

[Cobber]

Or ~$1m was under reported in the HY results, it could be a simple mistake, have you thought of that possibility? No doubt all will be clarified soon enough.

Annual reports (including HY) go through teams of accountants internally and externally (Deloitte's in this case). I've done many in the past.

Chairman's speeches on the other hand, do not have to have any vetting process.

The report will be right.

So the Chairman's comment could almost be deemed 'negligent'. People have invested money into PLX based on his inaccurate statement.

The NZX must surely be following up on this PLX too. They have made a mockery of the main board by being allowed to list there. Their capitalisation was meant to be $40 million. They are now at $17 million and heading south of that very quickly.

[Baa_Baa]

Annual reports (including HY) go through teams of accountants internally and externally (Deloitte's in this case). I've done many in the past.

Chairman's speeches on the other hand, do not have to have any vetting process.

The report will be right.

I think you'll find that the HY report is interim unaudited and the ACMR $6m was wrong, probably a simple mistake soon to be corrected and the $7.1 ACMR stated in the CEO's update on 28 Oct was correct.

Of course the December ACMR is much more important relative to guidance of $10m.

We'll see who is correct soon enough.