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Garyble, Hi

The last full year accounts to October 2004 contained statements that the Board had made provision against "this litigation and possible outcomes based on legal advice". The notes described a Provision of 1,081,000 made in that year as "best estimates of the costs incurred and committed in respect of recent change of strategy, restructuring and actions in defence of patents". The Accounts contained a figure of 1,669,000. Presumably made up of the 1,081,000 plus 588,000 actual spend in the year on these matters, adjusted by brought forwards from the preceding year.

Ian B said at the EGM last August 1million had been provided in the accounts - presumably part, if not all, of the 1,081,000 above. This being so the settlement would not affect the 2005 or 6 P&L Accounts. Legal costs might though.

The issuing of the shares last week should not have involved any material cash drain, it being effectively a Balance Sheet accounting adjustment of increasing the Issued Capital and writing out the Provision.

Ian also said they had enough cash for 18 months at the (then) level of activities. A year left now? But with Greenseal and possibly other revenues already coming in this would have changed by now.

We should know more when the 2005 Accounts and Reports are released at the end of this month.

From the preliminary results to 31st October 2004 - Note 4.


"Other provisions relate primarily to best estimates of the costs incurred and
committed in respect of the recent change of strategy, restructuring and actions
in defence of patents." The amount reserved was 1,081,000, but no telling how much was for non cc issues and how much of the cc reserve was for either costs or for damages.

So yes, garyble, you remember corerctly, but it does not tell us much. This issue has now been resolved and hopefully this item can have been washed through the accounts as of 31st October 2005, with full provision being contained therein, other than the recent share issue to BRPG, and no future implications to worry about.

It is interesting that, from a position where the court ruled 1 patent was owned by BRPG (whith some joint rights attaching to SEO) and 2 were owned by SEO, the settlement is a sharing of all 3 between them AND 1m compensation flowing adversely to SEO.

Using a share issue, so all investors paid equitably (dilution of about 5%) without reducing SEO's working capital seems to have been a smart idea. Also, in future, I hope we won't have to wait 5 months for prelims each year (so they could include the cc resolution this year, presumably) but nearer 3.

I share broadly Eric's view of mid to long term optimism tempered by the intervening short terms risks of adverse news on progress. My stop loss is 14p midprice (13.75p bid). If it drops through this point, there is almost certainly an opportunity of buying back in at say 12p, thereby pumping up the value of ones holding through a little short term trading. Long-term this could easily be 1.40 within 5 years.

sd

So we just interpolate the 1.40 in 5 years to mean " it could easily be 40p in a year", or then extrapolate to see 11.40 in 10 years, my, some company???
Yep it sounds really good +200+% a year- without a crystal ball too- er rubbish!!!

Thanks TonyR & SD,

Results certainly timed to allow for cc comment, so at least will be a positive.

Can't see any further reason not to have the rsults out asap.

CBB,

I make it 2.56 in 10 years. Not sure what you've extrapolated?

However, you'd probably guess I'm a bit more optimistic about the sp.

sd I think the dilution is less than 1%, thus my reference to peanuts. With the patent balance in SEO's favour, it would appear that SEO were willing to give ground to get rid of a troublesome irritant. The perceived difference between the companies is that SEO get on with it whilst B**G spend much of tehir time defending their intellectual property. However, it would be helpful to have JohnGTudor's comments as a holder (perhaps former) of both.

I hope the market is not expecting much from the results. Evolution say 600K sales and a loss of 2.4m. We know there are going to be very few Greenseal sales included so the interest should really be directed to what is said about 2006. Evolution are looking for 18.2m sales with very small PBT. As I see it, that assumes that the 200 target is achieved with ASDA and as much again from Greenseal or other products. The downside would come if that is heavily marked down and there is no significant news of other earning streams, e.g. Greenseal in the US.

Given adverse market reaction, there could be a sudden drop to the resistance level of 12p. Wouldn't the problem with a Stop Loss be that the sp goes straight through and there is no trading at your SL level. Or do you do a Guaranteed Stop Loss which I believes comes at a cost.

This all sounds a mite pessimistic. In fact, I am reasonably positive: as stated earlier I feel that good news could move the sp quite quickly to the levels tested last year. This could also be rapid as demand could be heavy and the MMs would just respond by a heavy hoist up of the sp. The potential N to S price movement is thus 5:1 which, given that one move is as likely as the other from where I stand or sit, gives good reason for buying in. Mind I see 50% upside in both AZM and ASC with negligible downside so I have a heavier weighting in each - also DGT and PXS but I can't trade those as CFDs.

Eric

Selling momentum building now in SEO as BPRG show an RNS-might be time to move back in there again-long- not while the spread is anti though.
The lack of nous on investment is revealed on another bb, where market makers are slated for the poor share price of SEO,which is of course a SetsMM equity, `TOCH lamp and dim` come to mind

Bling,

we currently (for today) have Buys at 3,174,977 and Sells at 1,153,887

Could you enlighten one with a 'lack of nous on investment' as to how this indicates 'selling momentum building'?

a further 500,000 sells gone through.

Ignore him Ob. He's Testiculating* again.
Alan

*Testiculating. Derivative of the word gesticulating, meaning to use ones hands to talk bollocks. From Oxford English dictionary.

Sells 1.5m buys 50k

Is he still posting on here - just ignore him - he will eventually go away as he will have no one to talk to.

MAM would you please advise how you treat posters who post incorrect volumes, I have used your SEO figures which seem to be at odds with the Oblomov
person, iii, and ADVFN etc. agree with your vol.

STANELCO (LSE:SEO.L) -from Yahoo
Last Trade: 15.00 p
Trade Time: 9:34AM
Change: 0.00 (0.00%)
Prev Close: 15.00
Open: 15.00
Bid: 15.00 x 100000
Ask: 15.25 x 260893
1y Target Est: 24.00
Day's Range: 15.00 - 15.25
52wk Range: 12.50 - 31.75
Volume: 1,568,362
-------------

An example of lack of nous!!!!????
--------------------

oblomov - 13 Feb 2006 09:31 - 14760 of 14766
Bling,

we currently (for today) have Buys at 3,174,977 and Sells at 1,153,887

Could you enlighten one with a 'lack of nous on investment' as to how this indicates 'selling momentum building'?
-------------------
the usual BS from a master of it, and the paroniser falls

ROTFFLMFAO!!!!

Anyone else having problems with Stock watch ?? - the only share that is showing no info against it is SEO - already reported to MAM

Mines fine, Baza.

re 14740 . Anyone shorting crude with current instability in the Middle East is off his rocker. Any news from there will only drive prices further up. Chance of making $2.00 p/bbl versus losing $10.00 p/bbl are odds nobody in their right mind likes- but hey we're talking bling bling here so that explains a lot

http://futures.tradingcharts.com/charts/BC36.GIF

lack of nous , I guess some people rob from the poor and give to the rich, sad.

anyone got the SEO volumes right yet
ROTFFLMFACB&HO

ps there are a few trades on `Virtx`, thats a Swiss market-aaaahhh forget it