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.

lol :-)

Eric, I wouldn't at all feel comfortable if evil was in any of my stocks... it was bnh that i was talking about mostly and a couple of other things.

PDX was kept to a minimum really. He did say however that there is value in the company but 100m is a lot given the fundies.

I will give him this though, the guy knows what is good value...

As for my broker network eric, I think I will be just fine, market makers were phoning brokers for stock yesterday according to a guy on another bb. Some big buyers in yesterday....

Back to your question of trust, I would hope that I wouldn't need to trust anyone on any of my stocks and that I or my broker will pick winners. Take a look of the shares I have bought over the past year, only 1 I was slightly down on - and that was a commission loss:

SLNG
DTG
BNH (still holding)
TES (ok a bit dicey!!)
DA. (still holding)
BVM (sold through a mate at merrills at 15p after buying at 11.5 and 12.5)
PDX
TOA (still holding)
DGM (sold last week)
INO
TND (still holding - just started)
CLM (a quick in and out over christmas)
NML - was very very lucky to make a gain on that (one of my worse calls!!)

Loss
MPH - Bloody marchpole, bought at 36p and sold at 36.25!!! Down on the commission

Pick up some TND Eric, DYOR and if you lose money on this (obviously give it a chance) I will do ANY daring task you should throw at me.. thats how confident I am in my tipster!!!!!!!

legend

Thanks and well done! Am already watching TND. Have got off to a good start on NLR and BGT of the ASOS Challenge stocks. The time of NML is coming - could be stock of the year! Yes, you've proved your ability to pick stocks, with a little help from your friend, and get out at an appropraite time. Hope I'm improving that ability. By the way, couldn't find the epic ANY that you were offering! lol :-)

Eric

Hi Guys,

to be honest I dont have any position or any indications of where this one might go, I dont even understand the technology and I suspect that Evil K doesnt either, but please be warned Evil just looks at the accounts and it could be A or Z, if they look overvalued he will go for it. Please remember he was long of it up until about 10 days ago.

Thats what hes done and I must say he puts forward a very good LONG TERM CASE on t1ps.com today.

The one thing you have to remember is never ever underestimate him even though he pretends to not know a thing, and also please remember its not Evil that does the damage but the lemmings following him and t1ps, at last count had 8. 000 plus subscribers.

I hope you all do well.

cheers GF.

I have done some sums, for NML to go further, it will need more refinancing.. this means diluting existing shareholders out. If you look at the stock, you will never get the better of the mms... I think i made 45 quid after commission!!!!

Good luck mate. The last thing I want ANYONE to do is lose money...

GF,

he certainly doesn't understand the PDX technology by his own admission, so I reduced today as the results can't be very good as they are just gearing up for sales, so they must have made a loss last year.

I suspect EK will be all over the results and trash it, so just wait until it's over and I reckon we'll be able to buy back in cheaper than now, and he will move on to his next shorting target.

PDX have updated their web. See News Prediction that sales of sonic 25 will top 200 year, ok so not yet announcing actual sales.But quite a number of demonstrations. Any more good news for Monday ??

mikeran,

Thanks for that, and in itself that looks positive, although no figures to estimate the value of such sales I presume?

I reduced yesterday, and put the proceeds into FDI, which has been an extremely good move so far!

Once this shorting is over, I'll be replacing the funds taken off the table yesterday, though I won't be selling any FDI to do it!

Andy

That's brilliant if you got in to FDI yesterday ahjead of the drilling report and consequent 20% rise. Mind, they are ten times the cap. of NML who are starting production with first $20m predicted profit proven and a cap. of only 6m. Will watch yours as well though.

Eric

Nice one Andy - good compensation as well as picking.

Nice to see PDX holding strong despite the best efforts of the shorters. A very good indication of its true value.

dclinton,

I suspect they may be giving it a reprieve until results are known.

Ek is a accountant, and no doubt will be all over the accounts like a rash, so I expect another blitz once they are released.

Off topic.

Eric,

NML have nothing "proven" yet.

You cannot compare NML and FDI in my view, they are like chalk and cheese.

One company has one of the best geologists in Africa, (Hugh Jenner Clarke)and a management of experienced diamond men, already in several JV's with De Beers, and the other doesn't.

I'll leave you to decide which is which.

There is a long message fro EK on the other side. If you have access please read . I could copy but not sure what the positon is from one board to the other

mikeran,

I think it's frowned upon, but not totally banned provided it's on topic.

Dont post, nothing interesting I bet...

Mikeran,

Ok here it is, I'll post it as it's very relevant, although I think he's taken a few liberties personally, and I would dispute some of the conclusions he has drawn about the product, and he's clearly letting his desire for his short to cloud his judgement IMHO.

=================================================================

From ADVFN PDX BB.

Simon Cawkwell - 3 Feb'05 - 15:43 - 24743 of 24758

Gentlemen,

I draw your attention to this carefully developed scrutiny of PDX's claim to commercial possibility:

Simon,

Thank you so much for kindly forwarding me the Pursuit trade article with a supportive broker's note. This further encourages me to stick to my opinion that the company is overvalued.
I see that we have more stories from PDX. The first story was The outboard Motor story: when on 10th September 2001 The Company was pleased with the rate of development of the Pursuit Marine Drive and anticipated that it would remain on track to meet all of its stated key milestones.

They went on to state ‘The marine propulsion industry is mature and has seen few major innovations in the past fifty years. Pursuit believes it has identified a technology that could have a profound impact in this industry. Pursuit believes that an annual, global market of approximately $US6.5 billion would exist for its product on successful attainment of commercialisation.’ They obviously overlooked the advent internal water jets, four stroke outboards, Diesel outboards and fuel injected two stroke engines just to mention a few.

However on 04 September 2002

• Major development milestone reached by Pursuit Dynamics.

• Tests show the 'Pursuit Marine Drive' steam propulsion system is capable of matching 2-stroke outboard engine efficiency levels.

• An advanced steam generator attachment represents the final stage of development for the system. • Presenting advancements to 'The Royal Institution of Naval Architects' this week.

14 May 2002

• Current system efficiencies have now been demonstrated to a level approaching 50% of those available from two stroke outboard motors

• The efficiency of the key propulsive component of the Pursuit Marine Drive system is now twice the level that it was when Pursuit acquired the technology in 2001.

• Pursuit believes that it is on track to meet or exceed existing four stroke outboard operating efficiencies, and to demonstrate these further advances in an integrated system, during 2003.

• Pursuit intends to commence trials of the Pursuit Marine Drive aboard a test vessel by November 2002.

• Pursuit now believes that there may be no upper limit, in terms of vessel size, to the applications of this system used either as a primary propulsion source or in conjunction with any other marine drives.

The advantages we originally cited for the Pursuit Marine Drive have been confirmed as realistically achievable and we believe, in the case of the manufacturing cost advantage, will comfortably exceed our expectations

Now Pursuit has effectively shelved the Marine Drive citing the need for a partner to produce a suitable steam source. (This incidentally was the very question I asked them prior to flotation, and was given, an unequivocal but verbal assurance that there were a number of suppliers able to produce suitable boilers)





Then we had the Pump story:

On 30 October 2002 Pursuit Dynamics plc announces that it has completed initial testing of a novel, steam powered pumping system. Then on 03 February 2003 Pursuit Dynamics plc, signed an agreement with Sonico Ltd, whereby Sonico is to undertake a programme to prove Pursuit's PDX Technology for a number of applications within the water industry.

This also has gone quiet, hardly surprising as steam pumps have been around a long time and competition is fierce. Existing suppliers are unlikely to roll over and ask Pursuit to tickle their tummy!





Which then became the food pump story:

On 01 September 2003 Pursuit announced that it had entered a 90-day exclusive agreement with a leading confectionery manufacturer to trial innovative process technology. But on the 30th April 2004 the exclusive agreement expired today and no licence was agreed between the Company and the manufacturer.

Pursuit are now talking to Coke this is the great hope for revenue in the short term, but how much revenue can be generated here?



Which became the homogeniser story:

11 December 2003 Pursuit Dynamics developed a homogeniser for use in the process industries. They estimate the annual global food processing machinery market alone is currently worth US$18 billion. (Even better than the $6.5bn marine market) 11 March 2004 Pursuit announced the first sale into the prepared food market to Welcome Food Ingredients Ltd

The welcome foods story has now gone quiet there has been no mention on RNS since March and recent trade magazines do not refer to them. However Chester Scrope has put out a sales forecast of 200 units a year.





How about the figures

Two sales have been announced to date. One to a confectionery manufacturer that now does not want the product as it is not suitable for products such as chocolate and another to Welcome foods who have been remarkably quiet.

Sales set to top 200 units a year (Food manufacturing Dec 2004) DC Norris who manufactures the vessel, hoppers and controls currently have a turnover of 4m. Is this old established company going to manage to increase their turnover 2100% in a year? Perhaps there are other distributors that we have not heard of yet. There would have to be at least ten new ones. Can something that is supposedly exclusive be sold ten times?

It will take 84m of pump sales to generate 10m profit for Pursuit Dynamics on a highly optimistic cost base.

Bob Catto from Williams de Broe Plc says ‘In my opinion the company could be making profits of 10 million per annum on an annualised basis within the next 18 months’. This is an interesting calculation since the company releases no figures. Try working it out backwards - say the net profit for manufacturing, distributing and selling a pump is 8%. A pump manufacturer would buy a licence if he were promised a 16% profit as that allows a little leeway for error. Say the pump is so fantastic it makes 32% profit (four times the norm). The profit could then be split 50/50.

Lets be generous and say Pursuits costs only double, to go from sales at zero to sales at 13.5m next year. Pursuit would then only have to sell 13.5m of licences to generate 10m profit. The 13.5m revenue to Pursuit would be matched by 13.5m profit made by the pump companies. This would be made from sales of 84m

This means DC Norris sales would go 4m, 4m, 4m, and then 84m. All this is based on highly optimistic yields. This appears unlikely.

On the subject of figures the company are slow releasing the little financial information that they have to but on

01 December 2003 preliminary results for the year ended 30 September 2003. Overview: • Post-tax loss of 1,512,628 (2002: 1,593,189) • Cash at bank and in hand and short term investments of 1,117,277



Six months

ended

31 March 2004

Unaudited

Turnover 108,746

01 September 2003 Pursuit is pleased to announce that it has entered a 90-day exclusive agreement with a leading confectionery manufacturer

11 November 2003 ‘…In addition to funding the trials, the manufacturer will pay Pursuit 15,000 per month to maintain exclusivity for the trialling of the PDX Technology in confectionery and soft drinks applications’

11 March 2004 Pursuit Dynamics plc ('Pursuit') First sale into the prepared food market Pursuit is pleased to announce it has sold its first unit to Welcome Food Ingredients Ltd

Going on the above information one might assume the ‘confectionery manufacturer’ paid 15,000 for seven months i.e. 105,000. Then the sale announced to Welcome would amount to 3,746. This company might well struggle to reach the sales targets they have set themselves.



FINALLY, I should stress that I am not the author of the above thoughts. But they seem fairly reasonably presented to me.

Andy
the message on second thoughts is very long and is only an analysis of PDX financial /production history. Stuff we all know. But it is clearly designed to Panic people out, probably before results, because like us all he doesnt know if there will be any good news in them. The analysis he has posted is by a friend of his , when I asked for a name to authenticate it. He said the person wished to remain anonymous. So could have been written by anyone, hiself or a colleague at tip.com.
Any way suffice to say it was another one of his get panicking messages.

Mikeran,

After reading the above I think you can see how determined they are to trash PDX, as once again, the derampers are concentrating on the marine propulsion engine, that has been on the back burner (but not forgotten) at PDX for the last TWO YEARS!

Why dedicate quite a large part of your analysis to a product that PDx themselves are not promoting?

Then he refers to "the water pump" which I admit has become a quieter story of late, but I belive they are trialling one, in Sweden I think, not sure about that though.

They then refer to "the food pump" (processing unit to you and I) which the company ARE promoting, and have already gained a (trial) customer, COCA COLA!

Then he refers to the "homogeniser", and goes on to infer that all is not well with the customer, welcome Foods, but cannot support that with any substance, so I am discounting that one totally until he can back up his claim.
Welcome are said (by PDX) to be very satisifed with the results and resultant savings in processing, cleaning time and energy costs.

One would assume they would not allow PDX to put statements like that out into the public domain unless they were true IMHO!

And then to mention " a confectionary producer that does not want the product" is pure conjecture, and again not backed up with any substance. A trial lapsed, and a deal was not done, does NOT mean they didn't want it IMHO.

And he REALLY let's himself down when he uses the "unsuitable for uses with chocolate" as this was the Ashley James style of attack a couple of years ago, and PDX always KNEW it wouldn't work with chocolate as steam and choc don't work together, and this was stated PRIOR to the "confectionary" trial.

The confectioner concerned as runmoured to also process DRINKS, where the PDX came in, not in chocolate. But we already kenw that, and so SHOULD they, if they had done any research.

Still, whenever did they allow facts to spoil a good deramp?

Mikeran,

well it's so obviously biased against PDX, factually wrong in several places, written by someone that does not understand the technology, nor the product, with no attempt at balance, it could well have been written by Ashley James himself!

Wouldn't suprise me!