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.

They have 2.8mil loss to recover etc.....each sale appears to be around to the 3 60,000 mark from what I can make out...so....math?

They have how much to recover?

They're placing shares to raise 8mil.

The product is only just finding it's market.......was launched in US only last month.........do you seriously expect them to making a profit at this stage on the back of a handful of sales.

tstringy,

Of course not!

What we need to see now is a steady climb in the number of units sold, and then we should see some confidenne return to the stock.

It wouldn't surprise me to see the price fall back to the placing price, that often happens.

For those in for the longer term, that's not a problem.

Has PDX got any equipment down London to help with the big oil fire?

water wouldn't help much...... maybe there's an application for foam use though...

"Tell me why, I don't like Mondays, tell me why, I don't like Mondays.... I trust Mr Saperia that you now accept that as well as being a stockmarket legend I am also an authority on rock and roll music. As it happens I am rather enjoying my Monday morning but those who ignored my sage words on Pursuit Dynamics (PDX) will be having a rather less pleasant start to the week. (Diarist's note, you will spot how Evil conveniently forgets how he was long of this stock until Young Lucian and me explained what was going on and he went short). As I was saying before I was so rudely interrupted ...

Pursuit has served up what must be the funniest profits warning in history. One wonders whether it was written by our beloved leader Mr Blair himself it is such a hoot. In terms of using one's superb analytical mind to dissect this paper one does not know where to start. Perhaps it is worth mentioning that trial delays in the US have been delayed because of hurricanes. Well there is a shock, if there is bad news blame it on God. But wait for it, Avian flu in there, and guess what? Pursuit reckons that this could generate good new business. Well what a stroke of luck. I wonder how much that business will eventually be worth? Chicken shit? But the piece de resistance is the statement on actual sales. I really can do no better than quote the actual statement:

Revenue and contractual orders to date, including two PDX FireMist trials, total approximately 350,000. Of the total of ten licences and FireMist contracts achieved to date, revenue for only five Sonic licenses was recognised by 30 September. The success of our sales and marketing effort has meant that only the very first units have been priced at a discount to the normal 60,000 unit price.

Turnover in the year to 30 September 2005 is expected to be approximately 90,000 and losses after taxation, reflecting the increased level of activity surrounding the commercial launch of the first products, are expected to have increased to approximately 2.7 million, after charging depreciation and amortisation of approximately 632,000.

Read those lines carefully once more. I think even your average West Ham supporter might be able to see what I am getting at. Pursuit describes its sales and marketing as successful but in real terms that means that the last financial year its first five licences were knocked out at an average of 18,000 each - that is to say at a 70% discount to the "normal" price. Do you remember all those RNS statements over the summer boasting of new orders but which failed to value the orders and which excited the demented BB loonies so much? Well now you know why there was no value placed on those orders. But of course one must view the sales and marketing campaign as a "success." It is unreal. I might point out that if the first five licenses netted 90,000 then the next five must have netted 240,000 (or 48,000 a pop) which according to my basic maths shows that Pursuit has continued to discount. I would also point out that contractual orders are not the same as revenue in that they do not actually involve cash being handed over.

Aha, the subject of cash. As at March 31st the company had 2 million in the kitty but judging by the woeful second half of the year that cash position must now be down to well under 1 million. Well I might have failed the Cambridge entrance exam (I should have applied to Oxford as they will let anyone in, viz: the Diarist, young Lucian, Tony Blair) so I may not be the greatest mathematician on earth but at the current rate it cannot be long before Pursuit passes its hat around again. Now let us turn to the valuation: I should point out that at the half year stage net assets were 5.8 million but if one strips out intangibles and the second half cash drain I reckon you have net assets of 1.2-1.5 million. Now, at 196.5p (and falling) Pursuit is valued at around 90 million. You do not have to be the smartest bear in the woods to work out that a loss-making company with no asset backing and frankly with pretty irrelevant sales which will soon have to raise fresh cash and which feels the need to mention Avian flue in its statement is not worth 90 million. I am staying short and my first target for these shares is sub 100p. I do not expect to wait long."

CHECK OUT WHAT HE SAID ABOUT SANCTUARY HE'S NOT OFTEN WRONG BEWARE

Gordon
Nip down to the doctor's they should be able to give you something to help.
Or are you paid to deramp.
Or just a worried shorter.

Gordon

Two questions as you appear pretty well informed on this one

1. Hasn't the hat been passed around already at 150p in Novemeber ?

2. On the discounts don't these things sell for about 120,000 with half going to PDX. Is it reasonable to assume the other hallf goes to the distributor? But for initial sales all the hit was taken by PDX so machines sold for not as large a discount as you make out ?

I have no idea so would be pleased if someone could outline situation

thx in advance

Gordon you still there mate ??

Nice Firemist deal today with THE global leader. Plus look just now a director follows up with a purchase of 30,000 shares even after the price has jumped 200p....

Gordon (the stockmarket legend)
Got a bad head today with the rest of the shorters
We who are long just paid for christmas.
I am out now.
MERRY CHRISTMAS TO ALL.

... a second director posting a share buy as soon after news as possible, either these two guys have money to throw away or we're going to see some pump to this share price soon

...okay so Brian Sweeney is probably loaded -- interests include sailing and rowing, plus he's the non-exec with 3 or 4 other smaller co's. So he probably won't miss his 40,000.. Note his former RRoyce work .... could there be a route into a deal for PDX there -- not jet engines though

Andy Quinn, former director of corporate finance at HSBC, a position that suggests that money, also, will not be too tight in his household over Xmas, despite spending 60,000 on shares

So perhaps not such a ringing endorsement as if perhaps the poorer FD had bought some. But perhaps he really does need his money for Xmas. He was only on 63/- in 2004 poor love

More buying from Mr Quinn -- has he money to burn or does like what he sees from within ?

price looking fragile my money is fall toward 160p any negative news flow will
wipe that level out without massive sales improvement it will fail as many good ideas do

i have big short at 185p if you need to know

nice to see your making money gg. But more director buying suggests these uys know the real value of the Tyco deal, know that food achine orders are coming through.

Nothing says to me that this company is going down for any sustained period of time on CURRENT fundamentals or even the likely change of future newsflow

said the price was fragile

....and more director buying on 3rd

This BB has been very quiet but to-days news may be the start of something big.
My first and only 10 bagger could well be back up to 260p by Christmas

Oakapples,

Looking at the chart, it looks on the verge of a potential breakout from the long term downtrend, IMO.

Come on Oak, spread the good news, don't keep it to yourself!



Pursuit Dynamics PLC
28 July 2006


For immediate release, 28 July 2006



PURSUIT DYNAMICS plc

('Pursuit Dynamics' or 'the Company')

TYCO FIRE SUPPRESSION LICENCE UPDATE


Pursuit Dynamics, the developer and licenser of the innovative and patented PDX
(R) technology, which has applications across a broad range of industries, is
pleased to announce that its global exclusive licensee for its PDX FireMist(R)
fire suppression technology, Tyco Fire & Building Products ('Tyco') has provided
an update on progress.


Tyco has informed Pursuit Dynamics that it has met all of the initial milestones
specified in its licensing agreement with the Company. These include:


o Mechanical Property Testing. The primary objective of this task was to
review the configuration of the discharge nozzle to determine the ability to
apply standard spray nozzle mechanical tests to the device and this was
successfully accomplished.

o Component Acquisition. A complete, dedicated data acquisition system
capable of monitoring all nozzle input parameters (pressures, flowrates, and
temperatures) as well as a very large number of output parameters was procured,
assembled, and calibrated and successfully and accurately captured all of the
parameters desired.

o Target Hazards/Applications. A preliminary review of water mist
application categories and approval standards was undertaken and initial target
markets identified. The selected markets are characterized by strong growth
conditions, favorable environments for the deployment of new technology and
clearly identified unmet fire protection needs

o Target Customers. Two to three potential beta sites/applications have
been identified, and discussions intended to clarify functional and performance
requirements are ongoing. There has been significant interest in the technology
but initial commercialisation activities will be limited to those that represent
the fastest route to market combined with the greatest likelihood for similar
applications.


In addition, and outside the scope of the initial milestones, intermediate scale
testing by Tyco has been ongoing to develop empirical models relating nozzle
input parameters to fire suppression/extinguishing potential. This critical
activity will greatly facilitate the application of the technology to the
broadest number of applications.


Commenting on the update, John Heathcote, Pursuit Dynamics' Chief Executive,
said, 'Tyco's delivery of its initial milestone development obligations gives us
confidence that it is on track to meet subsequent milestones. We are delighted
that they are approaching the goal of commercialisation with as much enthusiasm
as we have and that our objective to get our technology to market as rapidly as
possible is shared. All of us at Pursuit Dynamics are looking forward to
continuing to work closely with Tyco.'


For further information on Pursuit Dynamics, please visit

www.pursuitdynamics.com
or contact:

John Heathcote, CEO Simon Hudson, Rachel Drysdale,
Gary Pyle, CFO Paul Dulieu
Pursuit Dynamics plc Tavistock Communications
Tel: +44 (0)1480 422050 +44 20 7920 3150 or 07966 477256



ABOUT PURSUIT DYNAMICS

Pursuit Dynamics plc owns, and is developing, a patented platform technology
with the potential to revolutionise manufacturing techniques across numerous
industries. The core technology is based on a gas driven, supersonic shockwave
that produces a controllable mixing, heating and flow rate. Pursuit Dynamics
operates as a research and development and licensing company and has already
proved the application of its system in the food industry.


Its PDX(R) Sonic fluid processing product, which is a highly efficient system
for use in the manufacture of prepared foods and soft drinks, was launched in
January 2005 and has been licensed to a number of leading industry players in
the EU, USA and Central America.


Other potential industry applications under development include applications for
waste treatment, brewing, pharmaceuticals, personal healthcare, on-line turbine
washing and oil and gas.


In addition to its almost universal applicability to process flow manufacturing
industries, the technology has been adapted to address the very large markets
for fire and explosion suppression. FireMist(R), Pursuit Dynamics' patented
product, the most effective of all commercially available water mist production
and distribution systems, can successfully extinguish Class A and B fires in
building and aircraft simulation fire tests. In December 2005, Pursuit granted
an exclusive global licence for FireMist to Tyco Fire & Building Products, a
division of Tyco International Ltd (NYSE: TYC; BSX: TYC), which is the world
leader in fire suppression.


In July 2005, Pursuit announced the signing of a one year contract with DARPA, a
US governmental defence research agency to use its PDX(R) Basilisk
decontamination system. The system has a number of applications for
disinfection, human and animal healthcare and in the defence industry,
principally in chemical and biological defence applications.


Pursuit Dynamics is headquartered in Huntingdon, UK and has a US office in
Darien, Connecticut. It is quoted on the AIM market of the London Stock Exchange
(ticker: PDX).


This information is provided by RNS
The company news service from the London Stock Exchange