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Morning all.

Feel very unsurprised my the results. Loss ok, and more future talk-which is getting boring. I'm getting frustrated with these 'foggy' descriptions, and as Oily said, why cant we be updated properly on exactly whats going on with each product. We f-ing own them!!! I stand by what I posted yesterday-we're not going anywhere till cash comes in. I agree that the future is rosy and exciting, but Feb 2006 was also rosy and exciting back in Jan 2005, and so far its bloody grey and COLD!

Barnery-spot on. Promise promise promise....blah blah blah......I too however have the stocks stashed and sitting long. I have great faith in SEO, but just wished it wasn't so bloody annoying being shown sweets and not being able to eat them!! Enough metaphors.....coffee required.........

worse than expected results, lots of jam tomorrow and only 2 (TWO) greenseal conversions and even those are still "in the process of being commercialized ". that's pathetic!!

So Bos, I presume you're not back in then?!!! ;-)

Bugz

Before long you will probably be able to eat the wrappers as well as the sweets!

kim

I have to say, I had TOTALLY missed that in scanning the results. Whats going on with ASDA? Didnt the T&G report at the end of last year quote Greenseal conversion under the ASDA contract had hit 7? If only 2 out of 200 have been installed we have some real issues!!!! How on EARTH is that contract going to be met? Answer-its not. Typical. (I'm in a right mood-feel quite similar to you Alan-pissed off!)

Kim
I avoid going to ASDA as often as possible it is hell on earth, but went to the new Frome one back in late Jan, all the uncooked meats and fishes, sunday roast joint etc are in nice yellow and green trays with the welded seal. Truly truly do not understand only 2 machines. BOS spot on 2 is pathetic and heads should roll.

Still Sp recovred a bit so who knows and off topic CHP recovering as well cannot be all bad.

Kim

Yeah-I hope so!!! Gonna try and leave the thread for today-otherwise its going to be full of my moans and groans........

Best thing for SEO is for them to be taken over by Rexam.

bugz, 7 months into the asda deal......... and only 2 conversions!!!!!! i know they said the numbers are going to be weighted towards the back end of the contract, but, come on!! sitting here shaking my head in disbelief ..... how can we have any confidence in this company when they so spectacularly fail to deliver?? that is the current problem. last week they annouced the big one, active discussions with walmart. last year the rumour about walmart sent these to 31p. this year they ticked up ....... and then promptly dropped back!!! credibilty is gone, imo, and the promise of more jam and huge numbers just doesn't do it any more.

barney 'n Bos

I agree, pathetic, don't know about heads rolling though, as I say, they won't want to roll out less than perfect machines; I admire them for that, how often have we seen an inferior product come to market then crash and burn (not talking about SEO). I would rather wait for another 1/2 years for them to get it spot on, though it does look like it will be a lot sooner than that, problems ironed out now I feel.

kim

kim....yes they "intend" to sell licenses...I "Intend" to grow a 12 inch willie.......does not mean it will happen...and i think i have more chance with the willie than SEO have with the licenses

Well, there are clinics for the willies, so anything is possible!!!

kim

12 Inches????
I'm not having mine cut in half for anyone!!!!!!

How often do you put two feet in it Alan?!

kim

I have to say Bos, you aint wrong. I too am really shocked-I didnt expect the ASDA figure. 2 isnt just pathetic, its a complete and utter failure. Remember back in the spring of last year when Paul M hadnt been banned, we were all discussing how long it would take to retro fit machines-NO ONE (even seq) ever suggested it would be 4 and a half months for each one!!! Engineers being trained in the States ready for a Greenseal rollout? =spin.

I feel like I'm bashing!!!! haha. Seriously however, I cannot see how these are good results. If they can only deliver 2% of a signed contract on time, how the hell are they going to supply Walmart?!!! It would be ok if the results had an explanation, but they've just thrown it in as it were bloody normal!! Outrageous.

Bugz

It's not an excuse, but it is a reason for the delays, obviously they are not going to get down to the bare bones of the delay in public but I read a confident note in the satement - sure there could be further setbacks, then I would be really disappointed, but this time they WILL be right! (all IMHO WTFDIK etc etc)

Research and Development is by its very nature frustrating, often seeming like two steps
forward and one step back. The development of GREENSEAL technology has been no
exception and mirrors similar experiences in the process engineering industry on
production machinery. However, we have now reached the point where we are
testing the equipment in a commercial environment on an extended shift work
basis.

kim

Don't wish to be pedantic, but..............
Reference the 2 Asda machines. The RNS says 2 are currently being Commercialised. Is this a different thing to being installed for testing?
If it is then it throws a new complexion on the news. If its the same thing, then yes its crap, but a broker note earlier said that 7 had been installed, which makes me think that it is more likely that commercialisation is different to installation, becaus ethe alternative is that either the broker lied or 5 machines have been withdrawn.
Puzzling (as always)
Alan

Kim

I appreciate that and understand, however I dont feel this is a two steps forward, one stap back situation. More like 200 forward, and 198 back!!

If I didnt think they'd deliver, and there was no future, I would have sold but havent. I am just very concerned about the lack of information. They would have been in a MUCH stonger position telling the market last year they were running SERIOUSLY behind, taken stick at the time, then announce these results.

This way round, they get the spin label (which they do kinda deserve) and people have even less confidence in them...... They should be just as willing to update us every 2 days on problems, as they did on positives. This 'sweep it under the carpet' mentality to preserve the market cap undermines it in the longterm.

Alan

I think the missing 5 are in here!!

We announced on 29 July 2005 that we had signed a contract with ASDA Stores for
an exclusive arrangement for a minimum of one year for the UK and Ireland to
introduce GREENSEAL technology to a minimum of 200 machines into ASDA's supplier
base. The first two of these machines are in the process of being
commercialized at two of ASDA's suppliers.

We are currently working with ASDA and five of its key suppliers including those
referred to above to fulfil the initial stage of the ASDA contract.

Yes, I think commercialisation and installation are different, from what I can gather, there is a fair amount of testing to be done after installation before the machines can be used for full production. Could, of course be wrong!

kim

Alan & Kim

Mmmmm..........(in a ponderous tone)

If so, that means that 7. However that implies that sod all has happened since the T&G report then! Doesnt lighten the mood..........