News from the boiler room: long term AIM dog Sabien (#SBT) raises £475k gross at 1p to keep lights on

ShareProphets Share Tips of the year 2017 Number 8 Steve Moore says Sell Sabien Technology

With prodigious cash burn the focus of my other sell tip of the year, the focus on this one is the balance sheet in conjunction with current trading…

Sabien Technology – yet more delays. Cash crunch ahoy (again)?

Previously writing on boiler technology company Sabien (SNT) last month, I noted a considerable improvement in sales performance needed otherwise its funds will continue being used just to keep the lights on. The following updates with the shares currently more than 6% lower, at 3.75p, on the back of an “AGM Statement”.

Sabien Technology – dire full-year results, expects “considerable improvement”. Er?

I previously wrote on boiler technology company Sabien (SNT) last month – ‘£750,000 placing “to continue growth strategy”, AKA to keep the lights on…’. The company has now announced results for its year ended 30th June 2016...

Sabien Technology – “£750,000 placing to continue growth strategy”, AKA to keep the lights on…

Previously writing on Sabien Technology (SNT) in July, I noted its seeking to reduce the nominal value of its shares “in order to allow the company to issue new ordinary shares should it decide to do so”, concluding that somehow, I’d guess it would decide to do so! - see HERE. Today we have an announcement of “£750,000 Placing To Continue Growth Strategy”...

Sabien Tech (#SNT) – £0.75m placing at 4p to keep the lights on (sorry, “to continue growth strategy”)

Sabien Technology – GM to reduce nominal value of shares + “three month's cash to cover working capital”. Hmmm…

Sabien Technology (SNT) has released the update provided at a General Meeting held today. Why the General Meeting? … “to effect a reorganisation of the company's share capital… the nominal value of the company's ordinary share capital needs to be reduced in order to allow the company to issue new ordinary shares should it decide to do so”. Hmmm...

Sabien Technology – more problems (& some pure comedy) in the boiler room

“The board of Sabien Technology Group plc (AIM: SNT), the manufacturer and supplier of M2G, an energy efficiency technology, announces that the company now expects to report revenues of c. £0.9m and a loss of up to c. £1.7 m in the financial period to 30 June 2016”. Hmmm, let’s read on... ‘UK pilot programme’, ‘Sales pipeline’, ‘Overseas pilot programme’ and finally ‘UK trading’… “results for the current financial year stem from the withdrawal of a number of large prospects from the opening pipeline at 1 July 2015 and a reduction in contract value of a number of sales”. Uh oh…