Software Radio Technology Sold Shares
Software Radio Technology (SRT)
(Month sold: June 2011)
Red Hot Penny Shares made a 700% gain…
SRT has reported a 157% increase in revenue for the year to March, and a pre-tax profit of £2.17m. This is an impressive performance and evidence that SRT is grasping the opportunity offered by the mandating of marine Automatic Identification Systems around the world.
However there are aspects of the financial results, and of the Chairman’s statement, that are less impressive. First of all the Chairman reports a pre-tax profit of £2.17m, even though this includes a tax credit of £0.23m. Next he boasts of a cash position of £3m while omitting to mention that cash would have decreased from last year’s £0.8m but for the £2.4m raised through a share issue.
Although SRT has seen a big boost in sales it has had to increase its working capital in order to build inventory. There has also been a big increase in administration costs, from an average of £948,000 per the last three half-year period to £1.429m in the latest.
Much of this is associated with development of new products which will be launched over the next eighteen months. The AIS market is still in its infancy, SRT has a very strong position here and it hints at sales opportunities ranging ‘from tens of thousands to tens of millions of dollars.’
However we are asked to take quite a lot on trust. SRT will not be able to avoid paying tax here forever and if I apply a standard 26% rate to the reported pre-tax profit of £1.937m the earnings per share figure comes to 1.35p. On this arguably conservative but not unreasonable basis the shares trade on nearly thirty times reported earnings. That is demanding.
SRT should have a bright future. It has a dynamic management team and market leadership. But the story has changed since my initial tip and the share price is now much higher than it was back then. I am going to bank this Red Hot profit. SELL
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12 month performance for the 5 years to May 2012
May 2011 – April 2012
| Company Name | FT Sector | Date Sold | Buy Price (p) | Sale price (p) | Gain or Loss |
|---|---|---|---|---|---|
| Synairgen (SNG) | Biotechnology | Apr-12 | 25.75 | 52.00 | 102% |
| Summit Corporation (SUMM) | Biotechnology | Apr-12 | 6.75 | 3.25 | -52% |
| Mediterranean Oil & Gas (MOG) | Oil & Gas | Apr-12 | 10.63 | 5.50 | -48% |
| Pivot Entertainment (PVT) | Media | Apr-12 | 23.00 | 12.50 | -46% |
| Firestone Diamonds (FDI) | Mining | Mar-12 | 33.75 | 8.63 | -74% |
| Quinddell Portfolio (QPP) | Support Services | Jan-12 | 2.88 | 6.75 | 134% |
| Mountfield Group (MOGP) | Software & Computer | Jan-12 | 2.13 | 1.38 | -35% |
| Aurelian Oil & Gas (AUL) | Oil & Gas Producers | Jan-12 | 78.00 | 17.50 | -78% |
| Mobile Streams (MOS) | Software & Computer | Jan-12 | 22.50 | 14.00 | -38% |
| Global Brands (GBR) | Retail | Dec-11 | 1.88 | 0.40 | -79% |
| Brightside Group (BRT) | Financial Services | Dec-11 | 37.00 | 21.75 | -30% |
| ClearStream Technologies (CTN) | Healthcare & Equipment | Oct-11 | 27.50 | 85.00 | 209% |
| Zincox (ZOX) | Support Services | Sep-11 | 57.25 | 60.75 | 6% |
| Symphony Environment (SYM) | Support Services | Sep-11 | 10.00 | 10.75 | 8% |
| Manx Financial (MFX) | General Financial | Sep-11 | 11.25 | 9.13 | -19% |
| Gemfields (GEM) | Mining | Jul-11 | 9.25 | 27.75 | 200% |
| Software Radio Technology (SRT) | Software & Computer | Jun-11 | 4.63 | 37.00 | 700% |
| Accsys Technologies (AXS) | Industrial Suppliers | Jun-11 | 0.27 | 0.15 | -44% |
| Noventa (NVTA) | Mining | Jun-11 | 235.00 | 66.00 | -72% |
| SocialGo (SGO) | Software & Computer | Jun-11 | 1.13 | 2.28 | 102% |
May 2010 - April 2011
| Company Name | FT Sector | Date Sold | Original Price (p) | Sale price (p) | Gain or Loss |
|---|---|---|---|---|---|
| PresidentPetroleum (PPC) | Oil & Gas Producers | Apr-11 | 59.50 | 24.75 | -58% |
| PureCircle (PURE) | Food Producers | Mar-11 | 161.00 | 99.50 | -38% |
| Vatukoula Gold Mines (VGM) | Mining | Mar-11 | 139.00 | 139.75 | 1% |
| Altona Energy (ANR) | Mining | Feb-11 | 7.33 | 11.88 | 62% |
| CSF Group (CSFG) | Support Services | Feb-11 | 59.00 | 71.00 | 20% |
| Medgenics (MEDU) | Biotechnology | Feb-11 | 332.50 | 255.00 | -23% |
| Berkeley Mineral Resources (BMR) | Mining | Jan-11 | 1.58 | 6.18 | 291% |
| Arian Silver (AGQ) | Mining | Jan-11 | 30.50 | 46.00 | 51% |
| Alliance Pharma (APH) | Pharmaceuticals | Jan-11 | 29.50 | 33.50 | 14% |
| Range Resources (RRL) | Oil & Gas | Jan-11 | 4.25 | 8.95 | 111% |
| Plethora Solutions (PLE) | Parmaceuticals | Jan-11 | 13.00 | 10.00 | -23% |
| Iomart (IOM) | Software & Computer | Jan-11 | 45.50 | 90.00 | 98% |
| Zoo Digital (ZOO) | Software & Computer | Nov-10 | 25.50 | 64.0 | 151% |
| Bango (BGO) | Software & Computer | Nov-10 | 39.00 | 149.50 | 283% |
| AFC Energy (AFC) | Technology | Nov-10 | 14.00 | 66.00 | 371% |
| Forum Energy (FEP) | Medical Supplies | Oct-10 | 68.50 | 73.0 | 7% |
| ViaLogy (VIY) | Software & Computer | Sep-10 | 4.88 | 3.88 | -20% |
| Kea Petroleum (KEA) | Oil & Gas | Jul-10 | 13.63 | 16.5 | 21% |
| Avacta (AVCT) | Biotechnology | Jul-10 | 1.50 | 0.99 | -34% |
| African Medical Investments (AMEI) | Healthcare & Equipment | Jul-10 | 21.00 | 16.5 | -21% |
| Energybuild (EBG) | Coal Mining | Jun-10 | 30.50 | 24.25 | -20% |
| Puricore (PURI) | Healthcare & Equipment | May-10 | 13.25 | 9.25 | -30% |
| Supercart (SC.) | Industrial Suppliers | Jun-10 | 14.25 | 8.75 | -39% |
| Matra Petroleum (MTA) | Oil & Gas Producers | May-10 | 3.36 | 2.15 | -41% |
| WIN (WNN) | Mobile Telecommunications | May-10 | 72.50 | 130 | 79% |
| Agriterra (AGTA) | Food Producers | May-10 | 4.50 | 4.3 | -4% |
May 2009 - April 2010
| Company Name | FT Sector | Date Sold | Original Price (p) | Sale price (p) | Gain or Loss |
|---|---|---|---|---|---|
| Corac (CRA) | Industrial Machinery | Apr-10 | 41.50 | 23.5 | -43% |
| Watermark (WET) | Water | Apr-10 | 0.80 | 0.58 | -28% |
| Polo Resources (PRL) | Coal Mining | Apr-10 | 2.70 | 5.33 | 97% |
| Lo-Q (LOQ) | Recreation Services | Apr-10 | 67.50 | 131.5 | 95% |
| Lipoxen (LPX) | Pharmaceuticals | Apr-10 | 12.25 | 7.5 | -39% |
| Verona Pharma (VRP) | Biotechnology | Mar-10 | 2.25 | 14.25 | 533% |
| Powerflute (POWR) | Forestry and Paper | Mar-10 | 71.25 | 27 | -62% |
| Cinpart (CINP) | Electrical & Electronic Equip | Mar-10 | 7.75 | 14.5 | 87% |
| Byotrol (BYOT) | Speciality Chemicals | Mar-10 | 27.50 | 27.5 | 0% |
| Imaginatik (IMTK) | Software & Computer | Jan-10 | 5.00 | 6.25 | 25% |
| IQE (IQE) | Semiconductors | Jan-10 | 8.38 | 18.5 | 121% |
| Petroceltic (PCI) | Oil & Gas Producers | Jan-10 | 13.88 | 14.25 | 3% |
| Velosi | Oil Equipment and Services | Dec-09 | 144.50 | 84 | -42% |
| TEG Group (TEG) | Industrial Machinery | Dec-09 | 34.50 | 39.5 | 14% |
| IS Pharma (ISPH) | Pharmaceuticals | Dec-09 | 85.00 | 83.25 | -2% |
| Galleon Holdings (GON) | Media | Dec-09 | 16.25 | 12.75 | -22% |
| Advanced Computer Software (ASW) | Software & Computer | Dec-09 | 21.00 | 36 | 71% |
| OPG Power Ventures (OPG) | Electricity | Nov-09 | 23.25 | 87 | 274% |
| Akers Biosciences (AKR) | Medical Supplies | Nov-09 | 16.75 | 12.75 | -24% |
| Concurrent Technologies (CNC) | Computer Hardware | Oct-09 | 44.00 | 42 | -5% |
| Customvis (CUS) | Healthcare & Equipment | Oct-09 | 3.50 | 1.45 | -59% |
| Genetix (GTX) | Healthcare & Equipment | Oct-09 | 41.50 | 68.5 | 65% |
| Penna Consulting (PNA) | Support Services | Oct-09 | 167.50 | 252.5 | 51% |
| Vindon Healthcare (VDN) | Healthcare & Equipment | Oct-09 | 16.50 | 15 | -9% |
| Just Car Clinics (JCR) | Specialty Retailer | Sep-09 | 78.00 | 55.5 | -29% |
| Cryo-Save (CRYO) | Healthcare & Equipment | Sep-09 | 67.50 | 85.5 | 27% |
| Epicure Qatar Equity (EQEO) | Investment Fund | Sep-09 | 57.25 | 41 | -28% |
| CareCapital (CARE) | Real Estate | Sep-09 | 34.50 | 5.13 | -85% |
| Gulf Keystone Petroleum (GKP) | Oil & Gas | Aug-09 | 31.75 | 82 | 158% |
| Earthport (EPO) | Software | Jul-09 | 55.63 | 65.5 | 18% |
| Phorm (PHRM) | Media | Jul-09 | 490.00 | 207.5 | -58% |
| KBC Advanced Techonology (KBC) | Oil Equipment & Services | Jul-09 | 41.00 | 35 | -15% |
| Braemore Resources (BRE) | General Mining | Jun-09 | 8.75 | 4.8 | -45% |
| Norseman Gold (NGL) | Gold Mining | Jun-09 | 17.50 | 34.5 | 97% |
| Driver Group (DRV) | Construction & Materials | Jun-09 | 86.00 | 74.5 | -13% |
| Education Development International (EDD) | Support Services | Jun-09 | 50.75 | 111 | 119% |
| eServ Global (ESG) | Software | May-09 | 40.00 | 19 | -53% |
May 2008 - April 2009
| Company Name | FT Sector | Date Sold | Original Price (p) | Sale price (p) | Gain or Loss |
|---|---|---|---|---|---|
| Independent Media Distribution (IMD) | B'casting/Ent | Apr-09 | 42.00 | 28 | -33% |
| Invocas (INVO) | Speciality Finance | Apr-09 | 63.00 | 39 | -38% |
| Boomerang Plus (BOOM) | Media | Apr-09 | 167.50 | 91 | -45% |
| Strategic Natural Resources (SNRP) | Mining | Apr-09 | 30.25 | 11.5 | -61% |
| Sarantel (SLG) | Telecoms Equipment | Apr-09 | 4.00 | 1.1 | -72% |
| IPSA (IPSA) | Electricity | Apr-09 | 74.00 | 16 | -78% |
| Optare (formerly Darwen) (OPE) | Transport | Apr-09 | 35.00 | 6 | -82% |
| Parkwood Holdings (PKW) | Support Services | Mar-09 | 105.00 | 34.5 | -67% |
| Hydrodec (HYR) | Oil & Gas | Feb-09 | 34.25 | 9.85 | -71% |
| Timestrip (TIME) | Containers * Packaging | Feb-09 | 7.50 | 0.63 | -91% |
| Essentially Group (ESN) | Advertising | Dec-08 | 8.88 | 5.25 | -40% |
| Finsbury Foods (FIF) | Food Producers | Dec-08 | 40.00 | 20.5 | -48% |
| Jetion (JHL) | Elec & Elec Equip | Dec-08 | 92.75 | 34.5 | -62% |
| Qonnectis (QTI) | Computer Services | Dec-08 | 1.73 | 0.4 | -76% |
| Cosentino Wines (MCOZ) | Beverages | Dec-08 | 17.50 | 3.75 | -78% |
| Discover Leisure (DISL) | Leisure | Nov-08 | 22.50 | 0.88 | -96% |
| Eruma (ERU) | Business Support | Oct-08 | 7.75 | 2.88 | -62% |
| Zirax (ZRX) | Speciality Chemicals | Oct-08 | 14.00 | 4.88 | -65% |
| Petmin (PTMN) | Mining | Aug-08 | 21.00 | 24.75 | 17% |
| First Artist (FAN) | Leisure | Jul-08 | 67.50 | 40 | -40% |
| Geong Int'l (GNG) | Software | Jun-08 | 65.50 | 56 | -14% |
| Lupus Capital (LUP) | Specialty Finance | Jun-08 | 170.00 | 45 | -73% |
| TMN (TMN) | Media | May-08 | 40.75 | 41.5 | 1% |
| Netcall (NET) | Software | May-08 | 17.00 | 15.75 | -7% |
May 2007 - April 2008
| Company Name | FT Sector | Date Sold | Original Price (p) | Sale price (p) | Gain or Loss |
|---|---|---|---|---|---|
| PROACTIS (PHD) | Software & Computer Services | Apr-08 | 46.50 | 26 | -44.09% |
| Caledon Resources (CDN) | Mining | Apr-08 | 43.5 | 61.75 | 41% |
| Energy Asset Management (EAM) | Business Support | Mar-08 | 1.15 | 1.1 | -4% |
| Alkane Energy (ALK) | Oil & Gas | Mar-08 | 16.75 | 15.25 | -8% |
| Serabi Mining (SRB) | Mining | Mar-08 | 18.75 | 15.75 | -16% |
| Myhome International (MYH) | Support Services |
Feb-08 | 13.75 | 25 | 81% |
| Ukrproduct (UKR) | Food Producers | Jan-08 | 57.25 | 89.5 | 56% |
| BBI Holdings (BBI) | General Mining | Dec-07 | 106.00 | 187 | 76% |
| CBG (CB.) | Insurance Brokers | Dec-07 | 131.5 | 183 | 39% |
| Elektron (EKT) | Electricals | Nov-07 | 14.25 | 18.25 | 28% |
| Curidium Medica (CUR) | Biotechnology | Nov-07 | 3.25 | 4 | 23% |
| GoIndustry (GOI) | Industrial Suppliers | Nov-07 | 15 | 13.5 | -10% |
| Pilat Media (PGB) | Software | Nov-07 | 56.50 | 43.5 | -23% |
| Intercytex (ICX) | Biotech | Nov-07 | 61.00 | 45.5 | -25% |
| Netplay TV (NPT) | Media | Oct-07 | 28.25 | 22.75 | -19% |
| Business Direct Group (BDG) | Support Services | Oct-07 | 3.5 | 2.13 | -39% |
| Mediasurface (MSR) | Software | Oct-07 | 17.25 | 8.5 | -50% |
| Powerleague (PWR) | Leisure |
Sep-07 | 66.00 | 104.00 | 57.58% |
| DCD Media (DCD) | Broadcasting&Entertainment | Sep-07 | 114.00 | 75.00 | -34.21% |
| TEG Environmental (TEG) | Engineering&Machinery |
Sep-07 | 55.00 | 102.5 | 86% |
| Worthington Nicholls (WNG) | Building | Jul-07 | 51.50 | 112.5 | 118% |
| International Nuclear Sol'uns (INS) | Waste & Disposal Services | Jul-07 | 42.50 | 63.5 | 49% |
| SectorGuard (SGD) | Business Support | Jul-07 | 4.12 | 3.5 | -15% |
| Tanfield Group (TAN) | Engineering |
Jun-07 | 18.00 | 152.5 | 747% |
| Vialogy (VIY) (Formerly Original Investments OIP) | Specialty Finance | May-07 | 4.75 | 14.125 | 197% |
| Europa Oil & Gas (EOG) | Exploration&Production | May-07 | 25.50 | 25 | -1% |
| Invu (NVUK) (*NVUK.L on yahoo) | Software |
Apr-07 | 14.25 | 27.5 | 92% |
Correct at at 04/05/12. The past is not a reliable indicator of future performance.
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