The chart for this stock says it all.

The company is quickly becoming a real gem in the telematics field, over the last month the co. has announced re-seller contracts which will bring in min. 2m or >30% of last years T/O alone.

The company is already experiencing massive organic growth so the co. should be profitable now following last years 500k loss.

The co. has approx. 6m cash and is in one of the hottest growth areas at the moment.

With a market cap. of 25m this will be re-rated x2/3 minimum within the next 6-12 months IMHO.

MM buys went through on Friday with T/O continuing to build, one to put on your monitor...

Well that went down like a lead balloon!

What results and a 1 for 50 consolidation, I have never had a stock gain after consolidation! Why they have to try to look big when they are still a penny share I do not know ,it just does not work.

What did i miss yesterday afternoon

gf - likewise - am I in the twilight zone?? am I reading the same news report? - pleased to announce, leading, ... well let hope for a bigger bounce than jordan

"........and you know, I bought some shares at an average price of 1.8 pence and you know what they're worth today?.......... 50 yes 50 pence......."

looks like my dream is coming true (without the obvious financial benefit!)

Big swing to loss for CybIT

MonAM

CybIT Holdings fell in early trade after the company reported a swing to pretax losses in the six months to September. The company blamed a new accounting policy.

It posted pretax losses of 1.13m compared with a profit of 38,397 a year earlier, as revenues fell to 2.61m from 4m.

The company added that it believes the new accounting policy is both 'prudent and conservative', and should ensure 'enhanced profits' in future years.

CybIT said it anticipates further opportunities with major contracts during the second half of the year, and that it can look forward to the future with increasing confidence

Sorry to say this but this is SHIT

Prudent and conservative!! take away the conservative and it sounds a lot like Gordon and I don't believe all he says either.

1.45 to and 1.56 to buy... alot of those sells are actually buys!

well good news if you knew it was going to drop?? - see how many the directors have bought? - lets hope thats the end of the bad news - sack the Sales Director then I say...

I still want to know more about this 1 for 50. Seems to have come out of nowhere. Did anyone know about this before today?

Nope, I think maybe they are trying to run before they can walk!

skids
Me too, I dont like the sound of that at all. What would be the benefit of such a move? Assuming there is a benefit

Douggie's gonna do his nut! hehe

Ignorance is bliss ;0)

what you dont know - cant hurt you! :-) but it would be nice to know what I dont know - just so I can worry (or not) with the rest of you..

Indeed, indeed, indeed. What a load of bs that was. OUCH! that hurt - Seems the MM's have been privy to some info that wasn't shared with us 'The Shareholders' - thats what has got up my nose this morning, ever wonder it never moved forward.

I'm trying to look for positives while I lick my wounds once more. Funny really but I get something from this that I have proclaimed before 'There's tooooo many shares' for such a small company' I have always felt this company had too many shares and hoped they would buy back once the profits increased. This isnt quite what I had in mind but all the same, I think it will prove to be a good thing longer term.

There are a few carrot statements in there, which do give a little encouragement and so I have decided to stick with it. It may bounce after the knee jerkers (meant in the nicest possible way) have bailed. My dilemma is, do I now buy some more, as I have a 'few bob' I was going to place elsewhere. These prices look very tempting.

I don't think it's all doom & gloom tbh, weve seen this many times before and whereas I agree with those that are saying consolidation in this manner, rarely helps the price, there have been some exceptions that have gone from strength to strength, here's hoping this is going to be one of them.

It's still a good company, with a good product/s, that has lots of opportunity to move forward. Sacking anyone at this stage would be both futile and damaging to Cybit. A takeover might be on the cards though?

If it drops further, then I definitely will be buying more.

NF

I agree NF-- I'm also tempted to add. They warned of the change in accounting several months ago as the revenues from contracts in one lump sum didn't give a clear picture. Now we should see steady income increases hopefully--don't forget the new contracts in the pipeline. Not struck on the 50-1 consolidation but maybe more fund managers will come on board when the SP is looking healthy. I sold HCEG because I don't like share consolidation but they are still going up. OUCH! As Chrissie says Artemis and Herald Trust are already holding and this is the leading telematics company also the board is not a greedy one they pay themselves a reasonable salary which is unusual these days of pigs in troughs!

NF - knee? surely something higher?? 18M sell v 4m buy so far - think the real shareholders have been sold down the river a bit... If I had known I would have bought a few more early this morning... once the panic has subsided, no doubt sp will stabilise - cyh did warn change in accounts - agree with the rest its in the right sector, product, etc

Just put things into perspective (working on Money Am's reported figures), 19.11m sells represents 1.92% of the shares in issue, hardly a tsunami and that hasn't taken into account the buys. A shift of apprximately 1.5% is neither here nor there tbh. I know a lot of us have more than we ought to on this, so I don't want to go down here at the moment, as it'll only get misconstrued as me 'on a ramp' (which I am not). Each has to weigh their position based on what they feel and read (research), not what the likes of me have to say. I'm only expressing an opinion.

NF