Can anyone confirm that the MCI upfront payment was not booked to the latest set of interim accounts?

Madafish - you mentioned that at some point you would divulge how close you were re. Tad interims and where you went wrong. Have you had a chance to marshall your thoughts? Cheers.

pachandl

My estimates for the Intrims were way off the mark. Reasons being I did expect some form of payment for the Autodesk contracts that were booked around Xmas. Obviously not knowing the details I cannot even guess as to why ETI's earnings remained stagnant. Then there was the Initial down payment from MCI, deal ann in Jan, so i did expect to see it somewhere in the results.
These are the two factors that made my guess nearly 1.5M out. I still have no doubt that TAD will make it for us but we have to learn to walk before running.

Anyhow on the rumour front, its up early tomorrow and definately be up early Friday. You have been told!!!

M

good job the market`s closed on saturday and sunday

It's absolutely crucial to know what TAD's revenue recognition policy is - doesn't anyone have their annual report? If they recognise on invoice then the MCI advance payment is in the interims* (and a long way short of 2m); if they recognise on cash receipt then the money is yet to come.

* unless they didn't invoice MCI until MCI came out of C11??

zzaxx

march 03 debtors about 900k and short term creditors about 1.1m

seems to me no advance payment in there then as they look more like the day to day figures

I would therefore imagine that money was paid post year-end

it could be that they received the cash and are going to recognise it over the life time of the deal so it is sat in debotrs but unless the payment is tiny then the above figures do not bear it out

the annual report is on http://www.tadpoletechnology.com/downloads/investors/2003ar.pdf

zz - excellent point - I completely forgot that they could not have invoiced MCI until it had come out of its protected bankruptcy status. Having said that, I had a debate with Madafish about when payments were booked - if the upfront payment represents access to the technology then it should be booked almost immediately, but if it is an upfront "royalty access" payment (which also allows for additional royalties based on actual use/turnover) then, as DD has said, it could be spread across the full term of the agreement - unless you know different. Cheers.

-- DD10000

thanks for that link. Agreed that the payment isn't in the interims unless it's tiny - that's the issue that I'm trying to establish. TAD have a history of leaks / rumours of large deals that turn out in the cold light of day to be much less significant, though planting 2M and then booking 20K would be a serious piss-take.

-- pachandl

Do we know for certain that MCI can't be invoiced in C11? I doubt they could pay, but can't see why they shouldn't be invoiced.

Any experts on C11 around?

Here's what the annual report has to say about it:

Revenue recognition continuing operations
Turnover is recognised for any element of a sale when all of the basic criteria are met for that element. The four basic criteria for recognising software licence revenue are: that persuasive evidence for the arrangement exists, delivery has occurred, our fee is fixed or determinable and the collection of the revenue is probable. Maintenance revenue is recognised rateably over the period of the contract, and consulting revenue is recognised on the basis of work performed and contract milestones.

So, clear as mud there then! appears to be satisfiedopen to question - depends if "technology access" counts as delivery at signing, or when they implement; or whether any software has been handed overprobably satisfied,open to question - contract signed, but customer in C11.

ZZ - sorry but I am not certain about c11 conditions. I agree with your analysis although Pt 2 (delivery has occurred) is probably even more questionable than you suggest - surely it must assume minimum operability of the delivered software to the satisfaction of the customer (not just beta testing that would have occurred preJanuary announcement). Moreover, if the upfront payment includes an obligation to maintain operability and functionality of the software then it could easily constitute "maintenance revenue". I am in the dark, as is often the case with Tad.

zaxx - i would imagine they would have to recognise it over the period of the contract

Afternoon Dick
I see grussome one is boasting about how successful he is, all of a sudden he seems to have developed an inferiority complex since pjjw has been telling people he is about to buy.
Seems to be a lot of large chunks being picked up between 15.5 & 15.75.

yuff - i thought the sell off would be greater but seems to be holding firm

Cartesia was disappointing but as we are 3 months into H2 they must be confident of better trading there. If we assume even half a million profit - personally i would hope for 1m from that division - then the loss is down to 1.3m for H2 without any further ETI contribution - that would give us enough cash for 18 months so not worried on the funds front at all - not to mention we may possibly get more funds from the H/W sale next year

looks like it is up to ETI to bring it to the table at last!!!!!

Grossone has been filtered from his first appearance as a clear Ollie clone - from the copied posts I would imagine the bloke is a Jack Russell on speed - all bark and no bite.

I think i am trying to say that he is a tool

regards

the appropriately named dick!!

We may have them worried!!


July 01, 2004 08:30 AM US Eastern Timezone

Citrix Reorganizes Corporate Services and Product Development Organizations

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 1, 2004--Citrix Systems, Inc. (Nasdaq:CTXS), the global leader in access infrastructure solutions, today announced that it has reorganized its corporate services and product development organizations. The internal changes are designed to streamline back-office processes, increase cross-company collaboration across all functions, improve overall customer service and simplify the company's organization. The company also announced that Jeanne M. Moreno, senior vice president, corporate services and chief information officer, and Bob Kruger, senior vice president, product development and chief technology officer, have decided to leave the company. They will continue to support the company during a transition period.

Lots of big buys today, following more big buys on Friday, something starting to brew?

Do you think its an early rise tomorrow then?

M

ML
Not sure about tomorrow ML, but with all these large buys flying about it looks like something is getting ready to burst.

Todays Express


"Whispers of a tie-up with Microsoft and industry accreditation for its software lifted Tadpole Technologies 1/4p to 16p"

Not many more early mornings guys.
Thankfully!

M

New contract for Teldig - let's hope TAD get some royalties

07-05-2004 - CITY OF MADISON IMPLEMENTS TELDIG UTILITY & TELDIG MOBILE

Wisconsin's capital to use TelDig's technology to manage One Call tickets

TelDig Systems, leader of damage prevention solutions for buried infrastructure today announced that Wisconsin's capital, the city of Madison, decided to implement TelDig Utility and TelDig Mobile to manage their locate requests from the One Call.

TelDig's technology will help the city's officers to provide a better service by automating the dispatch of tickets and other processes such as screening and reporting. The city will also implement TelDig Mobile in the field to provide a paperless and more efficient handling of the locate tickets. TelDig's product currently integrates MapInfo's MapX, Microsoft's MapPoint, for usage of street and utility maps. TelDig is also integrating ESRI's MapObjects and will link to Microstation's Fieldview in the upcoming weeks. This will provide more flexibility to users that use different GIS environments.

The city of Madison follows other municipal and government agencies throughout the country that use TelDig's products. TelDig's customer base covers damage prevention one call centers, contract locators and utilities of all sizes. TelDig has been serving the damage prevention industry for 10 years.

Good stuff Dick.
ML
I see buys heavily outweighing sells for the third day running and the mm's still refuse to let the price run free.

"I see buys heavily outweighing sells for the third day running and the mm's still refuse to let the price run free."

;-)

you guys STILL really believe all that conspiracy sh*t then ;-)

you need to get out and about a bit more.