Kjøp 99 mill for 6,77 mill.
AGS har falt dramatisk fordi leverandørgjeld ble en utfordring når prosjekter ble utsatt.
Denne gjelden er nå gjort om til lån, noe som er meget gunstig for selskapet og for aksjonærer.
Dagens prising er ellevill og som vises om man leser 1Q rapporten. 1 Q ga 1, 08 kr i overskudd pr aksje og den handles nå for 1,05.
2 og 3 Q blir like bra som 1Q ut fra estimater.
Selskapet har i dag en verdi på 62 million.
Med andre ord mindre enn 1Q sitt samlede overskudd.
Pris for aksjen før utsettelsene av kontrakter høst 2019 var 15 kroner, de kontraktene er de de jobber på nå.
Utregningen på overskriften er basert på dagens kurs mot balanseregnskapet 31 mars.
Verdier i selskaper er 99,7 mill dollar og børsverdi i dag er 6,77 mill dollar.
FINANCIAL POSITION AND CASH FLOW
As of 31 March 2020, AGS had total assets of USD 99.7 million, compared to total assets of USD 80.9
million as of 31 March 2019.
Total non-current assets increased from USD 53.2 million in Q1 2019 to USD 63.4 million in Q1 2020.
This is attributed to the net increase in multi-client library of USD 17.0 million offset by a net decrease
in goodwill of USD 2.0 million and decrease in deferrd tax asset of USD 4.6 million to zero value for
both items as of March 2020.
Total current assets increased from USD 27.7 million in Q1 2019 to USD 36.4 million in Q1 2020. The
increase is driven by a USD 13.3 million increase in other current assets mainly due to accrued revenue,
offset by decrease in inventories of USD 0.6 million and trade receivables of USD 12.3 million; and a
increase in cash of USD 8.3 million. Cash balance ending at USD 9.2 million as of 31 March 2020. During
Q1 2020 the CEO has been given a temporary loan of USD 90 000. The loan will be repaid or deducted
in salary.
The Group’s equity was positive with USD 2.2 million at the end of Q1 2020 and with value of USD 13.2
million as of 31 March 2019. The equity ratio is 2.2% as of 31 March 2020 compared to 16.3% same
period in 2019.
Total non-current liabilities decrease from USD 0.2 million as of 31 March 2019 to USD 0.01 million as
of 31 March 2020, consisting of long-term portion for lease of properties. The original secured debt
towards Eksportkreditt Norge AS has been reclassified to short-term debt as the covenants was not
fulfilled per March 2020. The Company is in dialogue with Ekportkreditt as the company is in need of
waivers from Eksportkreditt due to the restructuring of accounts payables to long-term debt and
financial covenants.
The current portion of long-term debt amounted to USD 1.7 million for the debt towards Eksportkreditt
Norge AS and USD 0.2 million for the leases as of March 2020.
Total current liabilities as of 31 March 2020 amounted to USD 97.5 million, compared to USD 67.5
million as of 31 March 2019. The large increase is related to trade payables, which increased by USD
26.7 million. Contract liabilities (IFRS adjustment for multi-client pre-funding revenue) increased by
USD 7.2 million to USD 25.2 million in 2020. Other current liabilities decreased by USD 2.3 million in
2020, the account includes project related accruals, taxes and VAT and the issuance of a promissory
loan note in favour of TGS which was reduced to USD 6.6 million per March 2020. The current portion
of long-term debt amounted to USD 1.9 million as per 31 March 2020.
Cash outflow from operating activities in the first quarter of 2020 was positive with USD 8.5 million,
compared to negative of USD 12.0 million at the end of the same period in 2019.
Cash outflow from investing activities in the first quarter of 2020 amounted to negative USD 0.03
million, compared to negative of USD 3.8 million in the same period in 2019. In the first quarter of
2020 the Company only invested USD 0.03 million in node handling equipment compared
to investments in the same period of 2019, which was investment in the multi-client library
with USD 3.1 million and in node handling equipment with USD 0.7 million.
Cash inflow from financing activities in first quarter of 2020 was negative USD 0.8 million, compared
to positive with USD 9.0 million in the same period in 2019. In the first quarter of 2019 the Company
had net proceeds from new equity of USD 9.8 million.
https://www.axxisgeo.com/investor/quarterly-results
Denne gjelden er nå gjort om til lån, noe som er meget gunstig for selskapet og for aksjonærer.
Dagens prising er ellevill og som vises om man leser 1Q rapporten. 1 Q ga 1, 08 kr i overskudd pr aksje og den handles nå for 1,05.
2 og 3 Q blir like bra som 1Q ut fra estimater.
Selskapet har i dag en verdi på 62 million.
Med andre ord mindre enn 1Q sitt samlede overskudd.
Pris for aksjen før utsettelsene av kontrakter høst 2019 var 15 kroner, de kontraktene er de de jobber på nå.
Utregningen på overskriften er basert på dagens kurs mot balanseregnskapet 31 mars.
Verdier i selskaper er 99,7 mill dollar og børsverdi i dag er 6,77 mill dollar.
FINANCIAL POSITION AND CASH FLOW
As of 31 March 2020, AGS had total assets of USD 99.7 million, compared to total assets of USD 80.9
million as of 31 March 2019.
Total non-current assets increased from USD 53.2 million in Q1 2019 to USD 63.4 million in Q1 2020.
This is attributed to the net increase in multi-client library of USD 17.0 million offset by a net decrease
in goodwill of USD 2.0 million and decrease in deferrd tax asset of USD 4.6 million to zero value for
both items as of March 2020.
Total current assets increased from USD 27.7 million in Q1 2019 to USD 36.4 million in Q1 2020. The
increase is driven by a USD 13.3 million increase in other current assets mainly due to accrued revenue,
offset by decrease in inventories of USD 0.6 million and trade receivables of USD 12.3 million; and a
increase in cash of USD 8.3 million. Cash balance ending at USD 9.2 million as of 31 March 2020. During
Q1 2020 the CEO has been given a temporary loan of USD 90 000. The loan will be repaid or deducted
in salary.
The Group’s equity was positive with USD 2.2 million at the end of Q1 2020 and with value of USD 13.2
million as of 31 March 2019. The equity ratio is 2.2% as of 31 March 2020 compared to 16.3% same
period in 2019.
Total non-current liabilities decrease from USD 0.2 million as of 31 March 2019 to USD 0.01 million as
of 31 March 2020, consisting of long-term portion for lease of properties. The original secured debt
towards Eksportkreditt Norge AS has been reclassified to short-term debt as the covenants was not
fulfilled per March 2020. The Company is in dialogue with Ekportkreditt as the company is in need of
waivers from Eksportkreditt due to the restructuring of accounts payables to long-term debt and
financial covenants.
The current portion of long-term debt amounted to USD 1.7 million for the debt towards Eksportkreditt
Norge AS and USD 0.2 million for the leases as of March 2020.
Total current liabilities as of 31 March 2020 amounted to USD 97.5 million, compared to USD 67.5
million as of 31 March 2019. The large increase is related to trade payables, which increased by USD
26.7 million. Contract liabilities (IFRS adjustment for multi-client pre-funding revenue) increased by
USD 7.2 million to USD 25.2 million in 2020. Other current liabilities decreased by USD 2.3 million in
2020, the account includes project related accruals, taxes and VAT and the issuance of a promissory
loan note in favour of TGS which was reduced to USD 6.6 million per March 2020. The current portion
of long-term debt amounted to USD 1.9 million as per 31 March 2020.
Cash outflow from operating activities in the first quarter of 2020 was positive with USD 8.5 million,
compared to negative of USD 12.0 million at the end of the same period in 2019.
Cash outflow from investing activities in the first quarter of 2020 amounted to negative USD 0.03
million, compared to negative of USD 3.8 million in the same period in 2019. In the first quarter of
2020 the Company only invested USD 0.03 million in node handling equipment compared
to investments in the same period of 2019, which was investment in the multi-client library
with USD 3.1 million and in node handling equipment with USD 0.7 million.
Cash inflow from financing activities in first quarter of 2020 was negative USD 0.8 million, compared
to positive with USD 9.0 million in the same period in 2019. In the first quarter of 2019 the Company
had net proceeds from new equity of USD 9.8 million.
https://www.axxisgeo.com/investor/quarterly-results
Redigert 23.07.2020 kl 20:16
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kjofor
23.07.2020 kl 20:32
1114
Ja kursen er latterlig i forhold til verdiene i selskapet. Veldig laber interesse for denne de siste dagene. Vi trenger en positiv melding for at derskal skje noe her, men den vil uansett starte oppturen jo nærmere vi kommer q2😄
AxxisKongen
23.07.2020 kl 20:44
1085
Ja, Q2 rapporten nærmer seg med stormskritt, og jeg vil tro at flere og flere innser hvor billig denne aksjen faktisk er. De har i motsetning til de store seismikkselskapene tjent svært gode penger så langt i år og stiller seg sterkere økonomisk med refinansieringsplanen. Når denne først begynner å gå, går den fort.
Davinci_me
23.07.2020 kl 21:59
981
Det ulmer noe jævlig for børsene om dagen. Får vi en ny nedtur vil jo denne også falle ned mot 0.60.
AxxisKongen
23.07.2020 kl 23:00
880
Det tror jeg ikke. Er mer hold i aksjen nå enn under oppgangen i mai. Selv om mange småaksjonærer har sikret gevinst nå som kursen igjen er over 1kr, er det mindre fallhøyde mtp. at refinansieringsplanen er på plass (og konkursspøkelset ikke lenger henger over dem) og et høyest sannsynlig godt Q2 nærmer seg. Refinansieringsplanen og Q1 rapporten/presentasjonen burde alene være nok til å drive kursen langt høyere enn dagens konkurspris på 60 millioner. Tenk at kursen er den samme som på starten av året da selskapet stod uten jobb og inntekt, hadde masse kortsiktig gjeld som nå enten er nedbetalt eller omgjort til mer trygge låneavtaler (jf. refinansieringsplanen), og kunne gått konkurs når som helst.
Redigert 23.07.2020 kl 23:14
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