ShareJunction - Member Posts

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Excellent point on the thin margin issue cleverboy! At least someone bother to look deeper. Hope more people share their discoveries. It definitely helps in adding more facts for one' s consideration.

J& J did put in $$$$ but if you see page A-69,

On 10 January 2014, the Company issued a convertible promissory note to Johnson &
Johnson Development Corporation for a total gross proceed of $2,500,000. The note bears
an interest rate of 8% per annum. Upon an IPO, the principal amount of the note and accrued
interest, if any, will be convertible into ordinary shares of the Company at a 20% discount
from the IPO price. If the IPO is completed within 12 months from the date of agreement, no
interest is payable in respect of the principal amount. No interest will be due if the note is
converted into ordinary shares within one year from the date of agreement.

8% interest or a 20% discount to IPO price should say something about how J& J is squeezing QT even for the small investment it is doing or another view how risky QT is that J& J wants such a premium. Either way J& J wouldn' t lose out.

Beside those pre-IPO investors, Dr Eitan has 13millions share at 2cts. Another one to watch out.

Anyway, I hope this is QT year and they turn around strongly to contribute to SG economy and more importantly retail investors' pocket who had placed their trust in them.

Disclaimer: not trying to shoot down QT.

Anyway, it is a preminarily a timing issues: To take the plunge now or wait till the wave subside to have a clearer view. DYDD.

Happy huating!

cleverboy ( Date: 05-May-2014 17:19) Posted:

sheerluck is right to point out that it is not EDB mandate to ensure that the company is profitable. However, I think EDB hopes to make money out of its investment and at the same time attract more bio-tech company to set up office here. Profitability is always one of the objectives of the company.

On the point about whether the company is doing an IPO when they are faring their worse, I can' t fully comprehend as I look at the milestone the company has achieved so far. Two years before the IPO, there was no regulatory approval, no distribution partners and no acceptance of the products. At IPO time, its has regulatory approval, some market acceptance, good distribution partner and ongoing product pipeline. So rightuflly to speak that it is at its worst, I presume sheerluck is talking about finacial results.

Looking through the prospectus, I wasn' t able to agree with the point on " already thin margin" . The co' s sales revenue that have been reported so far have been small especially in the context of the world' s largest market for stents ie USA. I guess the company' s current sales volume has not reached the breakeven point, which is quite typical of any company ramping up its sales. How far or how close is the sales from its breakeven point is important as the nearer it is, the quicker the company would turn profitable.

In addition to distributing the products, J& J actually invested about US$5 mil into the company, through pre-IPO (US$2.5mil) and IPO (S$3 mil). Yes, I agree with sheerluck that I don' t think J& J is just distributing their products. It have to be that J& J believes the commercial potential of the products. To bring a product into J& J' s catalogue, it requries huge investment in terms of training of sales people, conduct of seminars to educate and promote the products to hospitals and doctors, print of marketing and advertising materials, stock up of inventories and product liability insurance. And we are not talking about just one USA markets but world markets that cover many countries.

As for pre-IPO investors, lets hope that they continue to ride their profit long and cut their other losses short, which is a better way to investment.

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Wow! Someone just manged to grab 5millon share at 29cts under the table while others are trading way above it. Something brewing?????

sheerluck ( Date: 05-May-2014 16:15) Posted:

Great! At least someone bothered to read the prospectus.

Firstly, I am surprised that EDB actually has an investment arm. I really " suagu" . But even so, I still discount that. SG want to attract more bio-science coy to set up their high-end work in SG so QT may just fit into their criteria to fulfil someone portfolio maybe. But I doubt it is EDB mandate to ensure that they are profitable. Of course hopefully they are.

They have new fund injected every year. However, at the point where they are really faring their worse, they decided to sell to the public. My take is that they may have (and I emphaise may have) potential to go big but they are pretty risky now that no new fund or existing fund wants to increase their stake anymore.

The distribution with J& J Cordis may be a right step towards selling their products to the wider medical industry but J& J Cordis wouldn' t do it for free. What is their cut? Hopefully it means Cordis can fetch a higher selling price to cover their take and not a further squeeze on the already thin margin. Also I don' t think J& J Cordis is just distributing their products. To them, is what sell that matters. If QT products sell, good. If it does not, they might just focus their power on others that do.

We should also watch carefully the actions of those pre-IPO investors. They are sitting on a huge profit now. If QT does take off, they might hold on and everybody eats their cake. If they don' t, there is nothing to prevent the pre-IPO from dumping and the fund may not want to further increase their stake.

Still this coy might explode tomorrow for all I know. If they showed creditable ans sustainable sale reveune, I might just be convinced. until then, I stay at the sideline.

DYDD.

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Right. 1cts div on the way. I wonder if there will be a greater correction at xD. But Q1 reporting coming after that and since NC has so far not disappointed the market (in fact it surpassed market expectation), people might just hold on for the next re-rate.

Not a call to buy or sell. DYDD.

RoundRound ( Date: 05-May-2014 15:51) Posted:

sheerluck,I follow this counter and hope my guess is right for you.
Two possible reasons.
1. Usually around or on day of result announcement, NCL will also announce some big contract wins and its any time soon.
2. It's biggest reward yet for all their loyal and valued investors, a total of 1 Singapore cent being final and special dividend, ex-Div on 14 May

sheerluck ( Date: 02-May-2014 16:32) Posted:

Yup. Any good news please share.

Nam Cheong by implication of its name really " heng nan chiong" . Its pattern is a series of mini-re-rate rather than one big jump. Good also becos it doesn' t do scary free fall as well. Good to hold long if you are patience enough.

Hope Q1 report bring another mini re-rate.

DYDD.

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Great! At least someone bothered to read the prospectus.

Firstly, I am surprised that EDB actually has an investment arm. I really " suagu" . But even so, I still discount that. SG want to attract more bio-science coy to set up their high-end work in SG so QT may just fit into their criteria to fulfil someone portfolio maybe. But I doubt it is EDB mandate to ensure that they are profitable. Of course hopefully they are.

They have new fund injected every year. However, at the point where they are really faring their worse, they decided to sell to the public. My take is that they may have (and I emphaise may have) potential to go big but they are pretty risky now that no new fund or existing fund wants to increase their stake anymore.

The distribution with J& J Cordis may be a right step towards selling their products to the wider medical industry but J& J Cordis wouldn' t do it for free. What is their cut? Hopefully it means Cordis can fetch a higher selling price to cover their take and not a further squeeze on the already thin margin. Also I don' t think J& J Cordis is just distributing their products. To them, is what sell that matters. If QT products sell, good. If it does not, they might just focus their power on others that do.

We should also watch carefully the actions of those pre-IPO investors. They are sitting on a huge profit now. If QT does take off, they might hold on and everybody eats their cake. If they don' t, there is nothing to prevent the pre-IPO from dumping and the fund may not want to further increase their stake.

Still this coy might explode tomorrow for all I know. If they showed creditable ans sustainable sale reveune, I might just be convinced. until then, I stay at the sideline.

DYDD.

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NC testing 36.5cts?

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How comes the volume but not in the expected direction!

Peterngchinheng ( Date: 03-May-2014 23:01) Posted:

No volumn ..... How to up???

sheerluck ( Date: 01-May-2014 16:33) Posted:

For those who have been tracking IEV, they all know it is pretty illquid. Just a few retail investors like us can push the price up easily. Equally, it can then go down as fast when people start taking profit unless there are enough volume to support the price increase.

This stock will still belong to the realm of trading category until volume says otherwise.

Just my view. DYDD.

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it is really an unknown whether this coy can survive in the small market against other big players. It has been bleeding for the last 3.75 years and how likely is it to continue bleeding for the next 1-2 years? My personal view: very likely since it it not like they have something no one else has and see my point in " Use of Proceeds"

Proepsctus, page 57, Use of proceeds,

$5mil for Commercial expansion includes marketing activities, expenses incurred in entering into further supplier and distributorship agreements, market expansion activities and costs of our sales force

They spent $6mil on this in 9mth FY13 (against a revenue of $3mil!!!! = spent $2 dollar to earn $1 dollar). $5mil enough to last how long. Not stepping up their marketing effort? Why. Their existing product have not edge over others? Difficult to sell? I don' t know.

$15mil for Development of new products and product enhancements.

This one simple means until they got something and something that can sell, there should be no reveune from this $15mil. Their R& D expenses are about on average $6mil for FY 2011 and FY 2012 but 9 mths into FY13, only $2mil. Spent too much on marketing and has to scarifice R& D? Anyway, that $15mil can last for another 2 years.

$30mil for General working capital purposes

Bottomline: I think their existing products are not doing so well (why US sale dropped so much just after one year??? The existing customers didn' t contiune or want to continee the orders?) and they are in search of new products.

Obviously the highest. Why? Still need to pay salaries (maybe also bonus?), pay rents, pay utilities while waiting for their existing products to fly (if they do) and new products to emerge (if they do) and fly (if they do).

Also look at propsectus page 75. Almost all shareholders' s average price are below 28cts and some very much below. They are locked-up for six-month to prevent a major sell-down on day 1 as usual but this thing works both ways. It may be to so-call protect new invetors but extend your horizon to six months later many people will have forgotten that the lock-up has expired it then present the opportunties for these shareholders to start offloading their holdings. Maybe not so for funds but great incentives for those pre-IPO investors. If you are them, will you hold or sell? Well they maybe in for the long haul. Who knows?

When it open high at 34cts on first day I am really puzzle. But they can support the price at a resaonable level on the basis that it is cheap has " potential" and should worth, the real show may only begins six months later.

Not shooting this one down but just rasing some of my observation and thoughts. Maybe this coy has some super-duper products that is about to change the World. Who knows? it may fly tomorrow but until it shows some creditable results, any bet now is obviously risky.

DYDD.

sheerluck ( Date: 29-Apr-2014 16:46) Posted:

They seems to be into a very specialised medical product. This implied a small market so will need a respectable margin. However, from its prospectus, it mentioned that it is competing with some big name resulting in low margin (supposedlyto win sale). It also need to spend a lot on its marketing effort ($$$). Has been loss making in the last few years I believe.

Sale in Europe is up but growth is low. Sale in US have dropped after a one poeak in 2012 may implied uptake of their product is weak. Started on Aisan market but sale is still low.

It is a big unknown if they can made it let alone make it big. ofc high risk high return. Who knows. Perhaps best to see how they perform in the next few quarters first.

DYDD.

Pauperman ( Date: 29-Apr-2014 16:23) Posted:

Cornered counter frm the beginning. Will it move like Talkmed?

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Yup. Any good news please share.

Nam Cheong by implication of its name really " heng nan chiong" . Its pattern is a series of mini-re-rate rather than one big jump. Good also becos it doesn' t do scary free fall as well. Good to hold long if you are patience enough.

Hope Q1 report bring another mini re-rate.

DYDD.

pnuklis ( Date: 28-Apr-2014 20:31) Posted:

There was AGM held today. Wonder any new news said!!!!!!!!!!!!!!!!

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Funny. This one posted a pretty bad quarter and is S-chip. Still got such high buy-up volume?

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For those who have been tracking IEV, they all know it is pretty illquid. Just a few retail investors like us can push the price up easily. Equally, it can then go down as fast when people start taking profit unless there are enough volume to support the price increase.

This stock will still belong to the realm of trading category until volume says otherwise.

Just my view. DYDD.

Peterngchinheng ( Date: 01-May-2014 11:39) Posted:

Who bought this counter (IEV) surely is good news for them..... Is that tomorrow will start price at above 35cent?

sheerluck ( Date: 30-Apr-2014 22:16) Posted:

Okay, the positive part of this annoucement is that the FPSO didn' t cock up. Since it is 49/51 with EMAS, I assume their have RM24.5mil out of the RM50mil contract. They initially intended to complete it within two months from that annoucement but since they only announced it now, I further assumed that it went into April and say they recognised about RM20mil in Q1. The unknown to me is the GM. I am looking at a minimum of 10% from both this FPSO and the Malikai TLP. 15% will be a big bonus.

I hope they report an excellent Q1 resutls and hope that if they did, I have not missed the boat. Gd luck to all IEV shareholders and huat big not only on Friday but the many days to come.

As usual DYDD.

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To all are vetsted in REX,

First, I would like to clarify that I am not vested in this coy but I am certainly not running down REX but simply raising questions and that comes to my rather simplistic mind. So please do take my post with a pinch of salt.

Secondly, I am not against the CEO getting more than $2mil pay package. But from the IPO prospectus, before listing he is getting band C ranging from $500k-$750k. After listing he gives himself a 3-4 fold pay raise! At least do so after you have generated enough revenue and profit to cover the increase. For your information, loti (=bread) don' t cost $1mil per loaf, ok!

Thirdly, I am not saying REX-tech suck but because they don' t open up (I did' t read their AR word by word so I must declare that I didn' t see where they mentioned their didn' t patent their Rex-tech except for REXONICS so it based on some posts here), even if they hit oil spots, who can tell for sure it is not due to heng-suay?

Fourth, even if their tech are unproven, with the billion of profit each oil coy generates their don' t sting on their R& D budget. Not one interested in this proclaimed oil game-changer? I think these oil coy needs to re-evaluate their risk-reward models.

Anyway, I personally believe that REX will find more oil spots just like another other E& P coy eventually. Hope they do prove to all the oil coys who are not interested in their tech my point three wrong.

Fine loti don' t cost $1mil but I don' t eat anything less than $2k. Bad for my stomach.

DYDD.

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Have been looking through their latest AR and on page 56 directors/CEO renumeration, the CEO pay package is more than $2mil. So out of that $8.5mil loss in FY13, $2mil alone comes from his pay package? So he take $2mil every year first while you wait for him to find oil! This is really a good business as I mentioned (but for them). They have better find more oil spots asap but I have more imortant things to do now which is where should I go for my $2k dinner tonight??? Damn! More difficult than finding oil.

Okay enough ranting. Really they are wasting their time and your money on exploration activities. Their REXONIC.trumps all (AR page 35):

Rexonic owns the world&rsquo s first environmentally-friendly, high-power ultrasound technology for commercial oil well stimulation that has shown to increase oil production by 30 per cent to up to 380 per cent both onshore and offshore. The proprietary, patented technology, developed by Ogsonic AG&rsquo s founders, is highly efficient in cleaning production well bores from typical oil production inhibitors such as wax, paraffin and salt deposits, thereby significantly increasing the flow of oil into the well bores at lower cost.

Just this alone you sell to oil production company, you super rich liao. Note that it is patented so they are proteted. Even if it is an increase in 30% is huge profit for oil coy. What waste time on all the other REX-tech to find something so difficult to find.

Also from AR page 35

OPERATIONS REVIEW 2013

In October 2013, Rex International Holding entered into a shareholders&rsquo agreement to regulate the affairs of the newly formed jointly controlled entity Rexonic. Rex International Holding paid US$10 million in cash and S$12.4 million (equivalent to approximately US$9.95
million) in new Rex International Holding shares for a 66.7 per cent stake in Rexonic, effectively valuing the company at US$30 million.

Wah, this coy with this super-duper tech only worth $30mil? Crazy!

DYDD.

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Okay, the positive part of this annoucement is that the FPSO didn' t cock up. Since it is 49/51 with EMAS, I assume their have RM24.5mil out of the RM50mil contract. They initially intended to complete it within two months from that annoucement but since they only announced it now, I further assumed that it went into April and say they recognised about RM20mil in Q1. The unknown to me is the GM. I am looking at a minimum of 10% from both this FPSO and the Malikai TLP. 15% will be a big bonus.

I hope they report an excellent Q1 resutls and hope that if they did, I have not missed the boat. Gd luck to all IEV shareholders and huat big not only on Friday but the many days to come.

As usual DYDD.

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Hi guys, chill.

I don' t think interfact is running down on REX. But really this " the founders were so careful with its intellectual property that no patents were filed" is equivalent to me saying " Hi, I got a magic stone. It can do wonders but I am not going to tell you how it does it. Just trust me and put some $$$ in me." But then who knows. The magic stone may be real?

Anyway, I thought the whole idea of patents is meant to protect their tech. So why not? REX is not a one-man show. Surely their team knows about the techology and people come and go. When they leave the coy, they bring the tech with them. With no patents, they have no protection at all. This is really questionable.

As ususal DYDD.

soojinhou ( Date: 30-Apr-2014 20:13) Posted:

Can I point you to article " Rex International: Game Changer for Oil and Gas Exploration" published on 1/9/2013 that says: " Convinced that no other seismic solution for oil exploration comes close, the founders were so careful with its intellectual property that no patents were filed." I don' t mind you running down Rex, honestly I don' t, but please don' t spew untruths and lies lah. I agree with you, they may have hyped up their technology, and time will tell. But as of now, no big player will buy their technology because it is unproven.

interfact ( Date: 30-Apr-2014 20:00) Posted:

That is what i meant.There is no report abt their drilling efficacy based on their technology.But their technology was patented as reported.How good is their technology is up to them to say unless verified by a third party expert.On hind sight think about its peers,how they do drilling?Have their peers not been successful in finding oil?What are their peers using? Dont you think they might have hype up their technology too much.

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REX hasn' t demonstrated any creditable earning yet. Everything is " potential" . I thought their unique selling point is their wonderful exploration technology so I am expecting a high hit rate. Are they looking at the wrong place or their tech isn' t that great after all?

With a NAV of US16cts and dropping current price still presented too much risk that is to me. DYDD

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VARD will eventually ride out of the Brazilian yard problem. Maybe this year, maybe next year or may be 2016. These funds can buy and hold for many years until VARD returns to its glory days. If the market crashes, they simply hold it longer. But they are never short of cash to carry out other investments.

Retail investors rather have the same level of resources. One wrong call and you may have a sizable of your fund stuck.

morningstar13 ( Date: 29-Apr-2014 21:15) Posted:

Sorry, I meant I see many funds like Blackrock, Schroder, DFA buying Vard....

morningstar13 ( Date: 29-Apr-2014 21:13) Posted:

That' s strange. Y i sell many funds like Blackrock, Schroder, DFA buying, ... buy volume also seems higher than sell...perhaps all accumularing on dips cause mid/long term outlook is still good?

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This is a great business. Getting paid to find something that may or may not exist. This is a great business for them any time but I hope it will be a great business for investors at some time.

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They seems to be into a very specialised medical product. This implied a small market so will need a respectable margin. However, from its prospectus, it mentioned that it is competing with some big name resulting in low margin (supposedlyto win sale). It also need to spend a lot on its marketing effort ($$$). Has been loss making in the last few years I believe.

Sale in Europe is up but growth is low. Sale in US have dropped after a one poeak in 2012 may implied uptake of their product is weak. Started on Aisan market but sale is still low.

It is a big unknown if they can made it let alone make it big. ofc high risk high return. Who knows. Perhaps best to see how they perform in the next few quarters first.

DYDD.

Pauperman ( Date: 29-Apr-2014 16:23) Posted:

Cornered counter frm the beginning. Will it move like Talkmed?

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doesn' t look good......

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They released in much earlier this round. Not superb but not to shabby as well. Don' t know how market will react when open.

NoRiskNoGain ( Date: 28-Apr-2014 22:03) Posted:

The previous few announcements were btw 3-7am Singapore timing.

darkknight ( Date: 28-Apr-2014 21:33) Posted:

i think they typically post result at around 10pm.