UK 10:45 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
AIM casino listed Servision (SEV) went public on New Year's Eve 2004 ad has been a serial disappointer ever since. More than eleven years on its shares have collapsed, more than $14.672 million has been sent to money heaven and the only commendation one can make is its consistency. It is always losses, more losses, more jam tomorrow and when's the placing? And it is that matter that needs addressing for the answer must be soon. Beware the ramp.
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Comments
Martin
Great piece on SEV, I only posted on the LSE this morning about how tight their cash position is and got the normal responses
Just one slight correction to your figures, the second half placing actually amounted to about £1.2m gross as they raised more and announced it in the 2nd of November GM rns, not that it makes a lot of difference.
Martin
Another thing that got my ears twitching was when the CEO goes on sharepickers and states that an independent valuation was done and it apparently came up with a mouth watering figure (ie bullshit) of $90 odd million
The company has never generated cash, even in the couple of years it apparently made a profit
Question for you Tom, why would they not book on the balance sheet companies that have postponed orders in writing? note 6 of the half year report
Steve
Good piece – there is something extremely bizarre about the bad debt here. Each year up to one third of revenue is written off for bad debt. As a one off this is possible, but on an ongoing basis is just not right.
Martin
It’s also worth looking at past orders (distribution deals) and how they don’t seem to get filled, there seems to be some excitement this morning because the latest $500k deal (if the numbers are ever met) is in the USA.
But, if we go back to May 2014 there is a USA distribution deal that was supposed to add $3m throughout 2015, but I can’t find any record of orders arriving in 2015 from that source or indeed size.
D_Stone
Excellent article. I also found it amusing the CEO bragging about how much the company should be valued on sharepickers. Isn’t Convoy Technologies (the new hyped USA deal) inactive?