Does anyone have any views on this share. I t was a play of the week in Shares mag on Thursday. They are into software, like Panda anti virus etc and according to shares are adding 12000 new customers a month. They are making profits and plan a dividend in 2006. The current price is around 7.5p and looks an interesting play.

Any thoughts?

bit by bit this is climbing. watch it guys it may be a worthwhile gamble

Thought I'd post this which was from another board :


Formjet Plc is a UK-based company with a highly distinctive business model. It acquires territorial rights to 'alternative' software products, and markets, sells, distributes and supports these products in place of the vendor in the UK.
The companies which currently make up Formjet Plc are described more extensively on dedicated pages within their own websites, but their activities can be summarised below.

Panda Software (UK) has an exclusive licence to distribute Panda Software products in the UK through software distributors and resellers.

http://www.pandasoftware.co.uk/

FileStream (UK) Ltd handles the FileStream family of products; award-winning solutions for the efficient, effective and economical management of digital assets and files.

Ability Software International has been set up to manage the marketing and distribution worldwide of the solutions developed by Ability Plus Software for the home, business and education user.

Personal Computer World - June 2004 Issue review of Ability Office said "It looks promising enough to worry Microsoft."

http://www.ability.com/

Software Dialog UK coordinates the sales and marketing activities of independent business partners trading under the Software Dialog banner operating within exclusive territories providing IT management, consultancy and solutions for the SME market.

http://www.softwaredialog.co.uk/

Results for y/e Dec 31st 2004 were much better than expected including maiden profit:
* group turnover up 95% to #2,599,239*
* gross profit up 109% to #1,718,574*
* EBITDA #305,472
* pre-tax profits up to #212,614 from break-even in 2003*
* shareholders' funds #1,305,827 (2003: #149,502)
* net cash balance #676,388 (2003: #54,661)
* #1,576,000 new funds raised in 2004

Very low p/e ratio suggests this stock is still very undervalued. See DAN buy note released 02/03/05 for their very conservative forecasts for 2005.

This along with prospect of dividend payments in near future (Quote from results "The Board is not recommending the payment of a dividend in respect of this year,
although the Directors intend Formjet Plc to begin paying dividends on achieving
satisfactory results for the current financial year.")
if growth continues makes this a steal at current SP of around 7.5p both for medium and long term investors.

Daniel Stewart buy note released 02/03/05:
http://www.saturn.uk.com/dsc_admin/FMJ_morning_flash_020305.pdf
Daniel Stewart reiterated buy note released 21/03/05:
http://www.saturn.uk.com/dsc_admin/FMJ_morning_flash_210305.pdf
Update 12/05/05 - UK-Analyst tipped Formjet a buy and gave a "conservative" 12.5p price target.
Link to old thread which also contains useful research: http://www.advfn.com/cmn/fbb/thread.php3?id=7504001
History thread: http://www.advfn.com/cmn/fbb/thread.php3?id=7127802

Risk Grade @ 17-05-05 = 460

This looks a very promising investment. Add to this information the fact that according to Shares mag, they are adding 12000 new customers a month and it begins to sound very very interesting

is no one interested in this share?
It seems worthy of a holding.
Any comments?

holding and have topped up this week. lots of good posts and info on the rival site.

Afraid no one is interested in FMJ.

Although about 2 months ago there was a full write up in Shares Magazine which was an excellent read. And the price now is incredibly firm. The forward pe rating on brokers estimates of 1.6 eps is only 5. With Ability Office and Panda Software doing well and considering the small capitalisation there is a lot of room for the share price to grow. In fact there was talk that perhaps someone bigger should take it out - who knows what will happen. Probably not to much of a threat to the bigger boys at present. Believe results are due at the end of August and we could see a share price of 10p and even 12p by Christmas.

Another one to follow is EVS, now again very solid. Was 6.85p but has come down to 4.85p now but business said to be doing well. Trading statement expected early July so watch for the fireworks and the top movers board. Could well be back up to 5.5p. Very good management very well experienced, a go, go Company like Tescos dont want to stand still.

FMJ an interesting play - despite the recommendations the price has not moved too much. Wish I had more money to buy more.

One should be interested in FMJ
They are having a strong day today. Bid price now 8.1p
Looks like they could go further.

I've taken a small position today, if all can be believed these are trading on a ludicrously low multiple.

Good luck everyone

capa

Anyone using Panda Internet Security? I tried it over here in Bolivia - its what we call "light" as opposed to Norton.
My point is that their back-up service is appalling - many dissatisfied customers!
I bought FMJ last month, crossing my fingers that Panda Software UK is more efficient.

Excellent firm trading day today, but finished with a 500k sell at 7.75p.
Looks like someone is stake building though.
The share price firmness should continue,
so tomorrow and the rest of the week should be an interesting time.

I bought these from city equities and they have moved up a little bit, although i have been told to expect the price to head up to around 12p in the near term too. I'm not all that familiar with what they do, although I do understand that they are a vendor of other companys products, and from all accounts are very effective at it.

i also bought a few other shares from city equities over the past year, one has done really well and others are doing nothing and one has dropped about 20% or so.

i do like what I am hearing from fmj. Like guru says it has a very low pe which is a good sign.

Formjet main two products are Ability Office which competes with MS Office, although as I understand it if you have a company with 20 PC's the combined licence to use Ability Office makes it much cheaper to use than MS Office,
and secondly Panda Antivirus software, both are in the top 100 of the software charts. The brokers expect eps of 1.6p this year and 1.8p next year, although the market is waiting before re-rating the stock to see if this will actually be achieved.
Today was not quite as firm with the 350k sell going through.
Hopefully tomorrow will be a bit better.

guru11 and kkedw095,

Do you use Panda Antivirus software?

If not. Why?

I have tried it on a free trial basis, and was relieved to see that although I signed up for it from the panda website, fmj are the vendors.

The only thing I found annoying about it is, the pop up panda. Apart from that seems to be fine.

How do you find it pet?

Afraid I dont use Panda software. On my new computer I have Norton Internet Security which appears to be ok, and on my wife's computer I have Zone Alarm, although it does tend to come up with a lot of messages saying that it has blocked another entry to her computer. Some kind of security / antivirus / fire wall is a must nowadays.
FMJ was a bit weak on Friday, going from a bid price of 8.1p to 7.25p.
I hope that next week is better. It appears that FMJ will exceed an offer price of 8.5p then it falls back again. It is a struggle on the way up. The fundamentals are still there though, although software is a moving ball game, but then FMJ is lowly capitalised, but has to keep up the momentus. If Ability Office succeeds then the capitalisation will look too small at current levels.

kked,

I agree with you about the pop up panda.

I found that I had to reinstall the program every week as the automatic update would not function and downloading manually from pandasoftware.es was very slow.

Apart from those two problems, and the fact that their representatives here could not resolve the problem and a bug got in, it seems very good but I feel safer with Norton.

It is very red again at present?
The nms are surprisingly 25k buy 100k sell.

Subsequently now changed to 10k sell.

Placing 6,000,000 shares at 6.75p

http://www.uk-wire.com/cgi-bin/articles/200506281243231518O.html?

Thats still only another 420k so nothing to really worry about.

Compared to the other Anti-Virus / Firewall software out there... unless Panda beef's up marketing they are only going to snap up the oldies who don't know too much and think the Panda is 'cute' . Performance and security wise their software is inferior to other leaders in this field.