for more information about stanelco click on the links.

driver's research page link
http://www.moneyam.com/InvestorsRoom/posts.php?tid=7681#lastread
website link
http://www.stanelco.co.uk/index.htm

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is different to installation, becaus ethe alternative is that either the broker lied or 5 machines have been withdrawn.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..........

Bugz

Yes, point taken and I must admit I am a little worried that they are not saying that they will not meet their target with the 198, or have I missed something? If they are intimating that they CAN meet their target then that would suggest that all problems are now sorted and that installation to full production could be days intstead of months.

kim

Sorry Kim, just seeing something.....

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.

The 5 suppliers includes the two 'commercialized' machines

ive held this share for over a year now.bitterly dissapointed with the results,2 greenseal machines which arent even complete is a disaster.
will there be financial penalties for late completion on these contracts?
once again the board spouts about tommorow without giving any actual figures,actual dates or actual contracts.
everything is reffered to in a vague "sometime this year" way.
unfortunately i think we will have to face the fact that if there was good news they would have given it to us.
i will probably still hold these shares for a while longer ,but stanelco needs to do something "solid" and quickly.
they arent fooling anyone with these results and vague forecasts.
remember it costs nothing to make a good forecast.
hope things pick up for all seo shareholders but i am a bit disillussioned today particularly at the grrenseal disaster.
im wondering if they are promoting starpol now to deflect attention away from the greenseal problems which lets face it is a major problem.
2 out of 200 in any other business would be described as "INCOMPETENCE".

regards

mark

Oh yes Bugz! I should have gone to Specsavers!

kim

Reading it a dozen times only makes it less clear!!!!
Minimum one year? Does that mean that if 200 installations take 10 years the contract is fulfilled on time?!!!??
Initial stage? Is there more to come???
Commercialized? Does that mean that trials with these two suppliers are over and the machines are being fitted on a permanent basis, and supply/maintainence contracts sorted?
What the hell does it all mean?
Alan

Mark

I was thinking the same with regards to penalties. I'm pretty sure there isnt anything in this ASDA contract (not 100% though!), but I bet if anything is drawn up with Walmart there will be.

I'm sure though they'll be in a better position for future conversions after this ASDA business as it sounds like lessons have been learnt, but it does make you think, and it doesnt fill you with confidence.

95% of what's been written on here this morning is pure bilge.

95% of what's been written on here this morning is pure bilge.

Alan

LOL! Thats exactly it!! Its smokescreen-like AGAIN!

We really need clear, well written, 1+1=2 kind of description of what is going on, rather than all these references to aspects of the business the board seems to expect us to know about!

I dont think honestly that there is a looming black hole thats being hidden, they just dont do themselves any favours with writing it up like they do.

great analysis and fortright insight into the results biscuit

Mmm yes Alan, makes the minimum of sense in a way! I just hope that SEO can pull their fingers out over announcing a whole raft of machines being commercialized before July otherwise I will feel that they may be prepared to ditch Greenseal altogether, in favour of flat out commercialization of Starpol 2000/3000. But hey! that wouldn't be so bad!?
kim

Biscuit -28 Feb 2006 08:12 - 15207 of 15262
Disappointed? What exactly where you expecting? Good steady progress, that's what I read.


Good steady progress? I dont read that at all Biscuit.

There is one way to find out what is really going on and that is to ask them! They are out of the closed period now so should be responsive to questions?!?. SO I tried to phone them, but can't get through! I will keep trying.
kim