Pursuit Dynamics plc is a UK based research and development company, which was founded in 2000 to develop and commercialise a revolutionary pumping and propulsion technology. Pursuit Dynamics (symbol: PDX) was listed on the Alternative Investment Market of the London Stock Exchange in May 2001.



PDX 25 Sonic.

The PDX Technology is a steam-based system that has applications in both pumping and marine propulsion. It is cheap to manufacture, extremely robust, contains no moving parts and is virtually impossible to block. Pursuit Dynamics owns 100% of the Intellectual Property Rights that surround the PDX Technology.



Pursuit Dynamics is now working towards the commercialisation of the technology it has developed.





Corporate website : http://www.pursuitdynamics.com/


Pursuit are rumoured to be close to closing their first deals, which may be in the food processing industry.

bradley007,


Hard luck!

Having met J Heathcote, I concur, he is a dynamic individual, and I have always had confidence in him making PDX a success.

Price now down a tad, I'm waiting for an entry point, as I feel they may follow up this news with another RNS soon.

yes yes yes...i like this share better than sex.... you would know why if you saw my bird!!

Hold on to your hats - May be your bird should appoint a new Commercial Director - that seems to do the trick. The higher this little gem climbs the more sex I can look forward to - If I play my Cards (credit!) Right

I have heard that the day after the deal with coca-cola was signed, pepsi were on the phone to pursuit...

Legend - you are encourageable - seems the sudden surge was short lived rather like the other these days !!

V funny legend, well with all this profit coming our way you might be able to rectify this.

I think it would be cheaper to import a nice piece rather than pay the 100s of thousands of pounds trying to rectify the bird i have got!!!

Or the other alternative is Winston's strip club in Leeds, you should go there... like pdx you get good value for money!!

As for the missus finding out... if the ref doesn't see it, it isn't a foul ;-)

Lol, cannot say anymore legend. Good Luck...

Prompted by the favourable press comment regarding sale (undisclosed sum) of a PDX unit to Coca Cola UK I decided to have a more detailed look into the technology.
Scanned through the 4 patents relating to pumping or propulsion devices in name of Pursuit Dynamics with International Publication numbers:
WO 2004/057196, WO 2004/033920, WO 03/072952 & WO 01/94197

This activity rang a bell in the memory bank and took me back to 1972 when I worked as a research chemist for Courtaulds in Droylsden, Manchester (facility closed down shortly after I moved on in 1976). Part of my assignment was to keep up to date with trade press and patent applications in the textiles field of which a large number at that time related to devices known as jet dyeing machines.

The original patent, USP 2978291, was filed on behalf of Burlington industries in 1958. This refers to liquid being passed through a venturi tube. The material to be treated is introduced into the centre of the moving stream of liquid so that the material is drawn along by the stream and "circulated through it solely by the momentum of the liquid stream".

The Gaston County Dyeing Machine Company took up the patent rights in 1963 and a commercial machine was launched at the International Textile Machinery Exhibition (ITMA) in 1967. This attracted a lot of attention as the device could easily be pressurised to process those fibres, eg polyester, that only took up significant quantities of dyestuff at temperatures in excess of 100 C. The concept was eagerly adopted by the processing industry for woven polyester cotton blends and knitted polyester fabrics.

From 1967 a host of other machinery manufacturers avoided royalty payments by filing their own patents based on variations of the theme of venturi/ steam/ water/ pressure/ propulsion and speed. At the following ITMA in 1971 there were no fewer than 25 jet dyeing machines on show. The number of new entrants to this area continued at a pace. By 1995 at the Milan ITMA there were 43 manufacturers exhibiting in excess of 100 variations on the original concept.

A couple of hours in the library studying publications over that period from The Society of Dyers & Colourists shows great similarity between the propulsion units in these machines and the drawings in the PDX patents.

I am not qualified in patent law, but find it strange that the PDX patents do not appear to mention the jet dyeing concept when referring to prior art. However similarity between the concepts would indicate that if PDX pumps were proven to be commercially viable a host of competitors would spring up with their own variation on the theme and ways around the patents.

This brings me to the current PDX share price at Mon close of 174.5p. The company has been loss making since floating in 2001. According to REFS the NTAV = 3.19p. Even house broker Durlacher forcasts a loss of 1.2 p / share for 2005.

Weir Group are probably the largest quoted UK based pump manufacturer with a PE = 12.1 and market cap of 606 million. In the event that PDX survive and become an established profitable engineering company to justify the current market cap of 74.6 million we would be looking at a turnover of 85 million and a pre-tax of 7.4 million.
Now how many years is it going to take a loss making company with zero reported turnover to reach this level?

Has there every before been a precedent for a mechanical engineering company making vast earnings from licence revenue in the way that electronics and software companies have succeeded?

Whilst these questions remain unanswered PDX heads up my list of shorting candidates.

Why do you post on here, I personally do not agree with shorting, your post was good up to the last sentence...

AdieH ....he posts on here to help his short. He also posted on the traders thread that he had posted a reason to short on here!!

Well the price is creeping up maybe if he has taken a short position he won't be smiling at the end of the day... I'm in for the long term as this is fantastic technology, i've seen a presentation to the company I work for, if the firemist takes off then 1.70 will look v v cheap.

Most of us are in for the long term but some people are only out to line their own pockets.

Instead of Marathon Mike (MM) he should be called Mini Me (MM) with the amount of 'shorting' he does.

Marathon Mike:

Yes at first I couldn't comprehend a 75m value of the company based on net assets and results, but Pursuit are rumoured to believe their PDX technology is worth 100m plus. I don't like to see a lot of good will either on a balance sheet as how much would the company be worth if you split it up?? nothing.

If you can improve industrial processes the way in which PDX can, how can you put an exact quantifiable value of a company. The market does this through the demand and supply of shares thus finding an equilibrium price (as I learned in my economics degree). There seems to be a lot of people that like the story hence recent price rises. I think shorting a stock like this is very dangerous in a situation like this, but good luck whatever you do.

Yes the coca-cola deal is relatively small and yes they would have to be big contracts to add great value to the firm. I think there is a money making opportunity in the short term and I wouldn't put off people that wish to stay in it for the long term.

Only time will tell

Well said legend could not have put it better myself, as you say shorting is a way of investing but I think this stock is not the one for that, time will tell as you say.

When you have a minute guys have a look at this company:

Belgravium Technology (BVM) pays a half penny dividend, currently 12p is. Mkt cap 7m. Company has 2m cash... very undervalued. A good little business.

Ok anyone know why PDX is going up this time??? Is a deal about to be announced again or is it results time??? I seem to remember they are normally announced in December. Does anyone know? It's looking good Yay!

Dynamite,

The price is rising on the back of the Coca Cola deal, and the anticipation of further deals to be announced in the near future, in my opinion.

The adoption of PDX technology by a global brand leader such as Coca Cola is simply superb, it will add credibility and make other companies sit up and take an interest IMHO.

My shareclub added today, and I am considering a portfolio rearrangement too!

Thanks Andy...I agree about PDX and Coca Cola etc but I had a feeling that there was some more news coming...Now this morning PDX announce a new advisor. This share is going to really fly in 2005.

The Guardian today has a rumour that there is about to be a deal with Diary Crest...Has anyone heard anything???? Things are looking even better.