I bought shares in this company at 4.5p in September 2003. I see they are rising. Can anyone tell me please the growth potential for this company as they have just been awarded several new contracts ?

CMS WebView PLC
30 June 2004



Trading Update

The directors of CMS WebView plc ('CMS' or 'the Company') had expected to
achieve at least one order of the Company's proprietary modular software system
Transactional Data Interface ('TDI') in the first six months of this year, but
this has not materialised. Therefore, although the Company remains hopeful that
current discussions with new business prospects for TDI, both in the US and the
UK, could lead to a number of orders being concluded before the end of the year,
CMS is now unlikely to break even for the year to 31 December 2004.

Due to the nature of the TDI product, each sale should generate relatively high
levels of revenue and contribution for CMS. At this stage of the Company's
development, the timing of winning new TDI contracts will therefore significantly
affect its financial results in each six monthly reporting period. In April
2004, the Company reported a 35 per cent rise in turnover to 1.6 million (2002:
1.2 million) and losses before tax reduced by 20 per cent to 543,000 (2002:
683,000) for its year ended 31 December 2003.

The Company raised 2.5 million before expenses in December 2003, primarily to
fund an expanded sales drive to market TDI, particularly in North America. In
March, CMS opened a sales and support office in Chicago which was initially
staffed by London-based employees. In May, the Company appointed Kurt Klein, a
highly experienced market data professional, to the position of Director, North
America Operations to lead the sales drive. CMS also reported that the Chicago
Board Of Trade (CBOT), as exclusive distributor of Dow Jones Indexes' market
data, chose TDI software to enable Dow Jones Indexes to enhance its data
throughput. Moreover, the Company has succeeded in controlling costs to lower
than predicted levels.

There have been a number of other important developments in the first six months
of the year which include confirmation by the CBOT that its new TDI market data
feed, which went live earlier this year, has successfully dealt with record
volumes of data. CMS has also won the exclusive licence to sell and support
ProphetX, the market display and trading system for energy and commodity
traders, in Europe as well as in the UK.

While the Company is disappointed not to have achieved a TDI sale in the first
half, it believes that it has made significant progress in creating a
considerably larger pipeline for potential new TDI contracts. Currently, it has
more high quality new business prospects than at any stage in its history.
Additionally, the directors believe that the ongoing recovery in world financial
markets provides CMS with an excellent opportunity and the Company continues to
view the future with confidence.

The above half year trading update is actually more encouraging than the market reaction to it.

For any investors taking a medium to longer term view, it is most definitely still 'all to play for' with this company.

Company currently valued at 4.8million with over 3million in cash. This company has been oversold and is currently being valued as a cash shell with no viable business. Given the sheer revenue generating capability of TDI contracts, the story could change very quickly on announcements between now and year end.

TSQ.

Hi,

Patience is needed here, I work for a real time data provider and believe me it is hard to sell but we sell, slowly but surely, it takes time and a lot of work, systems have to be tested and finally approved by accounts. TDI has the gear luck of being sold to CBTO, LME, CBT. They are important and very impressive sales. any big company would defo take a look and consider it. But it takes time. CMV has a great tool ans will deliver with time.

I wonder if another downgrade is due. Very happy to be out.Target price is 4p based on cash value, however may go lower as the market gives up on them.Will not however reinvest until a major contract is announced.As xmortal said a lot of patience is required and the economic may not favour them in 12 months time. There was an interesting article in the Sunday Business this w/e concerning software companies, in a nut shell large institutions are not purchasing large ticket items, they are either renting or doing without. Only purchasing unless they are absolutely necessary.

cms is now looking like an excellant long term investment.ie -5yrs.the share price is now silly 5p!!!!!.cash in the bank is 4p.so is the business only worth 1p a share? i think not!

Agree with that warrenc.

Doom and gloom is very easy at the moment. One contract announcement could turn the tide.

I think it should also be noted, that TDI and ProphetX are both very cost effective software solutions.

As I stated previously, the company is currently being valued as a cash shell. The position has been oversold on widespread small investor gloom. If it is your view that the potential exists to make new sales, then it is indeed a very good price to buy at.

Has CMS got anything going for it or are we still being played silly games by the company and the MM's.

Bloodhound u only have to look at the volumes to see there is absolutly no interest what so ever.Price will not move up until there is a TDI contract announced( i think everyone is aware of that by now)If they were such a great long term investment then i beleive the market would be discounting some contract wins. As it is the business is being priced at next to nothing. In 12 months time if contracts are still not being one then the price will be lower as the cash balance decreases. The push in to sales will be dramatically increasing there capital outflow.I agree with TSQ that 1 or 2 contracts will dramatically change the markets perception of the company and will begin to discount further contract wins.Company and house broker are telling the market that thet expect contracts to be announced during the 2nd half. The market doesnt beleive them.

Given the potential universe of sales opportunities, you would have to be confident that this company has not been totally naive in its business plan.

They have been around for over 20 years and would appear to have good products in place.

The market is currently showing zero confidence in any sales being achieved. I see the present valuation very simply;

1)if you expect no new sales then the current share price reflects the cash in the bank and the company is probably fairly valued for now

or

2)if you expect ANY new sales of TDI and other products, then the current share price is undervaluing the company significantly

All IMHO.

TSQ.

The Business plan is not a problem, its there ability to sell a high end software product under intense competition into a market that is very cash conscious. My question is why are they targeting the Banks when the exchanges are the obvious targets. i believe they have had very little success here since the last contract and are attempting to push into banking sector. Also the contract that they clearly felt so confident they would sign in the 1st half didnt materialise. (Alarm bells). This was probably an exchange.. Imho all is not rosy at CMS. TSQ are you really prepared to hold until a contact is signed,( dead money ) Imho you should be making your money work for you and revisit cms when they announce.

Appreciate your views momentum.

The current lack of news is very disappointing to all, though given the cash balance in the bank I'm comfortable to hold for now.

I am prepared to give the management time to build sales, and I am hopeful of an announcement in the second half.

TSQ.

the slide continues

any views on cms? is it time to buy big or leave well alone?

I reckon buy big...could go down a bit more until good news comes out. If I had the spare dosh I would keep topping up at these levels. This has the ability to shoot up again on any positive releases. (all imho,dyor,pyo)

It all comes down to new business, skyhigh.

The company is currently being valued as if it has no business, yet it has products which have value, recurring revenues from ProphetX and TDI, cash in the bank and intellectual capital.

The downside is limited by the cash in the bank in my view. Lack of news is obviously disappointing, but the Directors haven't been rushing for the exits, and have expressed confidence about future sales.

Again IMHO, the worst case scenario is that the company doesn't sell anything else ever, and goes private or returns cash to shareholders.

Given the revenue generated by new contract wins ie 750k+, I think the stock is worth a punt at these levels.

Exactly TSQ a punt. With the big boys such as Reuters struggling CMS have got a huge mountain to climb. Would i invest at these levels no way osay.Products and IP are worth nothing unless you can sell them.If directors had been selling we would be down to 1p. Im afraid being large holders in a micro cap your stuck with the shares, because these no way you can sell them without causing a collapse in the SP.Imho sales are not happening,company very unlikely to go private what would be the point if you cant make it as a public company. Best result would be a trade sale around cash value. Sorry to be so bearish but cms are very unlikely to survive in its present form.Dont read to much in to what the Directors say, i beleive they will come creeping back to the market with an announcement that they are still following good leads but have yet to sign any new contracts. How long will Chicago stay with them if there the only exchange running cms software.TSQ how low are you prepared to let the SP go before selling?

Finaly charts,looks like support may be offered at 4.25p, 3.0p and 1.75p.
And its over and out from me.Good luck to all those still invested.

momentum

Finaly charts,looks like support may be offered at 4.25p, 3.0p and 1.75p.
And its over and out from me.Good luck to all those still invested. Why did you
not throw in 1p , .25p, .001p

Goodbye.

why so bearish,just because a contract has not been signed it doesen't mean that cms are dead and buried.the trouble with small caps is that everyone expects to much to quick.i am a holder in 2 small caps cms is one and zoo digital is the other.i am confident that in 2-3 years time these companies will be far bigger than they are today.if cms fails to sign any contracts they will become a take over target by reuters or bloomberg as i'm sure they would like to get there hands on there products.zoo is the same,the technology they have is worth a fortune.i'm sure sony will see it as a threat if it takes off.

momentum,

I am happy to hold this stock and I haven't lost a penny on it. It's not a question of how low can it go, as you say. I bought the stock confident in the medium-long term picture and remain convinced.

Contracts will be announced in due course. The company has huge cash resources and is not going to be under any financial pressure.

Sales will come. Patience.

TSQ.