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OIL, OPTISCAN IMAGING LIMITED
mulgoaman
post Posted: Aug 21 2012, 10:14 AM
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Hello to anybody who is still following the Optiscan saga,

From this morning's CBD column in the Sydney Morning Herald our Mr. Holt gets a bit of a rap over the knuckles:

"Optiscan Imaging's executive chairman, Gus Holt, must have been so focused on his company's laser scanning microscopic technology that he missed noticing things more visible to the naked eye, such as his failure to update the market on his share-buying activities over the past two years.
Holt lodged a change of directors notice and change of substantial shareholder notice yesterday that disclosed a tally of share purchases in the company from May 2010 to last week that pushed his interest up from 5.16 per cent to 9.54 per cent.
Holt provided no explanation for the late filing of the notice which also showed the purchase of shares in the lead-up to price-sensitive announcements by Optiscan.
For instance, the notice also showed a private company Holt is a director of snapped up 370,000 Optiscan shares in the two days leading up to an announcement in June that the company had secured an $800,000 order. Optiscan shares surged 55 per cent on the day of the announcement"


MM


Said 'Thanks' for this post: Camo63  
 
mulgoaman
post Posted: Mar 3 2012, 05:54 AM
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Hello to all,

An article in yesterday's Australian covers the last minute reporting by companies that have bad news to release regarding their half year results. The Australian said in part:


"Threre's a hard and fast rule in public relations: get the good news out early and save the bad stuff for later. So it appeared, with a noticeable lack of cheerful reading in the 11th-hour earnings announcements as the February 29 deadline approached to end another reporting season. With two months to prepare financial accounts for the period ending December 31, more than 100 companies waited until close of business on Wednesday to lob their results."


Optiscan managed to report on 23rd. February last year when it had a more favourable set of figures to release, but waited until 3 o'clock on the last day of reporting; this year to announce their result.

With sales of $244,620 and expenditures of $1.4m. there can't have been too many transactions to collate in order to calculate the bottom line result. One can only think the poor figures were anticipated well in advance and the preparation of the final figures held back until the last possible moment.

Which raises the point concerning the releasing of information to the market in a timely manner, as and when such information is known. Directors must have been aware of the bad result for some time before the end of the month and known the likelihood of that upon the share price.

So what about buyers taking up shares at 15c., 16c. or 17c. leading up to the release of the figures to then find the shares plummet to 13c. & 11.5c. Do those buyers have a case against directors for not having announced the result earlier?
The result was a 'bummer' to say the least. To have seen the improvement in the share price over the few weeks one could only think that there was a good possibility of encouraging news to come in the half yearly figures.

Does anybody have an idea of the unit price of the goods that Optiscan produces? I was of the opinion that medical equipment was not inexpensive so that the stated sales of $244,620 could only mean a handful of of items sold. Does Optiscan have a sales person engaged or a sales division within the organisation? If so I would think that it needs to be given the flick. If there is no sales division then there is a desperate need for one to be got going.

I also have a problem trying to follow the flow of sales and the figure for debtors shown in the financials.

Debtors (Trade and other receivables are shown in the Balance Sheet or if you like the Consolidated Statement of Financial Position) at $532,102. The receivables can only come from the sales of goods ($244,620 for the six months) and government grants of $456,350. So the question to ask is how slow are the collection of funds from the sale of goods (Does the figure even include debtors older than 6 months?) and should 'other income' - that from government grants be brought to account on an accruals basis as oposed to accounting for it as and when it's received?

I'm away for a few days from tomorrow but I think I might drop a line to management when I get back to ask that question.

If any poster here has a thought on this aspect it would be a help if you let's know your take on things.

MM

 
mulgoaman
post Posted: Feb 26 2012, 08:27 PM
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In Reply To: dory's post @ Feb 25 2012, 07:28 PM

Hello dory,

Can't say I'm a chart person.

I remember going to an 'open' day put on by the ASX in Sydney when I first got organised with my Super Fund about 12 years ago.
One of the speakers on the day said he subscribed to share prices being "events" driven. A good announcement from the company,
a good half yearly or annual results or a guidance report. Or the opposite (read not good for good).

The same for an analyst's forecast and recommendation etc. etc.

Maybe after the "event" there will be a flurry of activity, buying or selling, which the chart people will pick up on. And if enough subscribers to charting take over this will further effect the price. But the "event" will come first.

So the "event" we are now interested in is the half yearly result and if any analysts bother to take up on it and give it some sort of recommendation.

Can't be long to wait now.

MM

 
dory
post Posted: Feb 25 2012, 07:28 PM
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In Reply To: mulgoaman's post @ Feb 22 2012, 10:27 AM

HI mm

no not me i may add on a re-test maybe .14

Hey i run a daily scan for trading -set ups using the same one for over 10 years and for the first time oil has come up on my san ??

the weekly chart is showing a break of a 4 year stage 1 basing pattern ? first target .28 any news could blow that out of the water ?

happy days



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alonso
post Posted: Feb 22 2012, 11:31 AM
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In Reply To: mulgoaman's post @ Feb 22 2012, 10:27 AM

As a long ago holder, I must say it does the heart good to see some of the same holders still in the game.

Your loyalty deserves reward and I hope it all comes good for you in the end.



--------------------
"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
mulgoaman
post Posted: Feb 22 2012, 10:27 AM
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Hello dory,

15cents!. Was that you dory? It's a bit of encouragement whoever it was.

I notice that the Half Yearly Report came out on 23rd. February last year, so the Report for the December, 2011 half can't be far away now. Maybe the recent improvement in price might be to do with what's expected from the Report.

MM

 

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dory
post Posted: Feb 5 2012, 10:31 AM
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In Reply To: moosey's post @ Feb 5 2012, 09:56 AM

Hi Moosey

yes and yes was in a hurry not to miss the train for a night out

cheers

 
moosey
post Posted: Feb 5 2012, 09:56 AM
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In Reply To: dory's post @ Feb 4 2012, 05:55 PM

Dory, you did really well getting them for one half of one cent? are you sure you didn't mean 0.05?

and 0.14 in the reference to the chart?



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All posters Please note, the decision to either buy or sell this share is entirely the individuals choice, I am not authorised to give investment advice, I post here to discuss the merits of technology as I see it, which may or may not be correct? and any information here is worth what you paid for it! the moose is loose
 
dory
post Posted: Feb 4 2012, 05:55 PM
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In Reply To: dory's post @ Jan 24 2012, 01:20 PM

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Hi -since oil smashed through .014 on large volume we are now seeing a small pullback on small volume - when a stock pulls back just under a major resistance level this is seen as Bullish setup up and maybe a good time to top up ?

happy to have brought at .005

 
dory
post Posted: Jan 24 2012, 01:20 PM
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In Reply To: dory's post @ Jan 23 2012, 11:57 AM

just like that on big volume graduated.gif

 
 


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