PPR worth placing on watch list and monitors.News today of contract gains and overseas Licensee Appointments:see below
17/12/04 07:00 Pentagon Protection (PPR) Final Results
14/12/04 07:00 UKREG Notice of Results

04/11/04 17:58 AFXF Pentagon Protection wins contracts with 610,000 stg sales value LSE:PPR Pentagon Protection
04/11/04 17:38 UKREG UK Banking Contract Gains
25/08/04 09:11 AFXF Pentagon Protection wins new deals, appoints further overseas licensees
25/08/04 07:02 RNSNON Contract Gains
25/08/04 07:02 RNSNON Overseas Licensee Appointment

Company swung into profit H1 and directors buying 14/7/04

14/07/04 13:32 AFXF Pentagon Protection chairman, chief executive up stakes in co LSE:PPR
14/07/04 12:57 UKREG Director Shareholding LSE:PPR Pentagon Protection
25/06/04 08:10 AFXF Pentagon Protection swings into H1 pretax profit as turnover rises sharply
04/05/04 12:16 AFXF Pentagon Protection upbeat on prospects at AGM LSE:PPR
04/05/04 11:48 UKREG AGM Statement LSE:PPR Pentagon Protection


Link to another thread:http://www.advfn.com/cmn/fbb/thread.php3?id=5288945

img src="http://www.moneyam.com/cache/graph.php?epic=PPR">

Started by Topic EPIC Creation Date Last Updated Articles
lex1000 PENTAGON PROTECTION - SAFETY & SECURITY GLASS
PPR 25/08/2004 20/11/2004 48
bigbobjoylove Has to be the most exciting product i've ever seen in current cicumstances >>
PPR 13/09/2004 08/11/2004 24
Invisage Pentagon is here to Serve and Protect! [PPR]
PPR 19/04/2004 01/09/2004 5
pram PPR is going places
PPR 10/11/2003 19/04/2004 6
bigbobjoylove one stock i think may well offer explosive growth
PPR 13/10/2003 10/11/2003 18
dannycarswell SLOW AND STEADY
PPR 28/08/2003 18/09/2003 5

Daily Express'Pentagon Protection firmed 3/4p to 7.87p on heavy trading after a private-client broker meeting at Seymour Pierce. Dealers were excited by the company's Middle East prospects. It has big contracts in Iraq and is opening an office in Bahrain.

Last week PPR were upbeat & telling private-client broker meeting of large contract and excited by the company's Middle East prospects.Press picked up on both rumours and excitement.Tomorrow friday,additional listing day, would be a very good time to share with the world and his wife by official RNS announcements!No guarantees,nothing in todays thin trades to indicate but usually news comes thursday evenings and fridays.imho.
R=8p
Br=8.5p

Tut Tut. They've broken that Thurs and Fri newsrule tonight Lex. Did you clock the way they tried to sneak out the RNS after the close
Pentagon Protection PLC
02 February 2005



PENTAGON PROTECTION PLC
REPLACEMENT ANNOUNCEMENT

THIS ANNOUNCEMENT REPLACES THE ANNOUNCEMENT OF FINAL RESULTS MADE BY THE COMPANY
ON 17 DECEMBER 2004 (RNS NO. 5347G). CHANGES TO THAT ANNOUNCEMENT ARE AS
FOLLOWS:

Changes to announcement are as follows:

Consolidated Profit and Loss Account
Goodwill amortisation - (Amount not changed) Disclosure changed to include the
cost under Administration expenses heading.

Consolidated Balance Sheet
Current Year - No adjustments
Prior Year - Typing error made on conversion as creditors should be 413,105 not
13,105. All other figures not adjusted.

Consolidated Cash flow Statement
Note 1 Reconciliation of operating profit/(Loss) to net cash outflow from
operating activities
Operating profit decreased from 278,489 to 195,495
Depreciation charges decreased from 79,651 to 45,350
Amortisation has been introduced at 117,302
Increase in stock reduced from (117,002) to (100,247)
Increase in debtors changed from (831,231) to 97,428
Decrease in creditors changed from 400,288 to (110,741)
Net Cash inflow changed from (189,805) to 244,587

Note 2 Analysis of cash flow for headings netted in cash flow statement
Returns on investments and servicing of finance - no adjustments
Capital expenditure and financial investments
Purchase of tangible fixed assets - Reduced from 121,354 to 75,538
Purchase of intangible fixed assets - Reduced from 1,213,162 to 943,365
Financing - Share Issue decrease from 2,347,500 to 1,597,50.
well LMFAO! I expect a major buying opportunity on tomorrow's dip! The management is accident prone, maybe that's why they patented toughened glass.

Sack the finance director and change accountant!! don't think I'll be tempted to buy.

The corrected version of the announcement follows:



FINAL RESULTS YEAR ENDED 30 SEPTEMBER 2004
Turnover up 184%, Profits Turn Around; Record Order Book

Pentagon Protection PLC ('Pentagon' or 'the Company'), the provider of
protective glazing products to the commercial and automotive sectors, announces
its final results for the year ended 30 September 2004. The Company went public
on AIM in April 2003.

David Thomas, Chairman, in his statement reports: 'I am delighted to report a
year of reasonable progress. These results are in line with management's
expectations, with the contribution from our first acquisition, Filmtek Limited,
exceeding expectations. We have strengthened the foundations for the continued
growth of our established business and expansion into new product sectors and
geographies. Filmtek underpins our aspirations of becoming a leading global
player in overall glass protection.'

Financial Highlights

Turnover: 3.32m, up 184%
- Continuing operations 1.46m (2003: 1.16m) up 25%
- Acquisitions 1.85m (2003: nil)

Operating profit: 195,495 (2003: loss 239,231)
- Continuing operations 17,980 (2003: nil)
- Acquisitions 177,515
Interest cover 12 x
Pre-tax profit: 178,857 (2003: loss 270,422)
Basic, diluted earnings per share: 0.15p (2003: loss 0.47p)
Net assets: 3.59m (2003: 375,865)
- Acquisition of Filmtek
- Two successful share placings
Cash 601,782 (2003: 252,109)
No dividend, in line with stated policy................................


Spoke to Peter Mukerjee ( pioneered Supaglass with Geoff Russel in 1990's)when he rang this afternoon Wednesday 2 February 2005 and discussed most aspects of the business opening office in Bahrain.He was frank,enthusiatic and optimistic as ever.The real excitement is in the flat glass side i.e Filmtek with emphasis on International expansion.The meeting did take place and news as reported in the press on 14 January 2005.Unaware of todays RNS until very late this evening.IMO nothing sinister or reason for panic.I am happy to have invested in PPR.Holding from 4.4p and content to do so for the long term.Company have a stronger year end.This means taking a twelve month to five year view.My share 2005/2006.Bullish long term.imho,dyor.

Would add that company looking grow organically,year on year.It is correct PPR has 3m quoted projects.This was confirmed as correct(in addition to record order book) and orders won.Lost some but had been replaced by new ones.Promarker has been exhibited,I think that it was somewhere like Dussledorf and company in distribution discussions.One order which could be mentioned as told already made public,presumed this was a reference to client broker meeting reported on 14 January 2004,and that is Saudi Arabia.Company had decided not to issue announcements on every single contract won.Comments taken singly and both together lead me to believe that these were referred to in The Times,Daily Express and that company could issue good news if they chose to do so.In the light of this evenings RNS no time like the present to do so and have e-mailed the company accordingly suggesting that PPR do exactly that.Company have previously issued news over Thursday/Friday which whilst not hinted at in my opinion remains a strong possibility.

These are my understandings.Feel free to contact the company yourselves:-
Pentagon Protection PLC
020 8749 9749 - info@PentagonGlassTech.com

imho,dyor.
regards
lex

John,your tut tut did bring a ;o)to my face. Spoke with the company again today.My opinion remains that PPR excellent long term investment.Hope that everyone took advantage buying the dips on treeshake.moneyplus could have bought @ 5.75p.mms took advantage with temporary 20%+ intraday dip mugging a few on the way down before before marking back up when the buying started.Looking for return to uptrend breaking back above 7.75p moving on R=8p ; Br=8.5p.Share price back to 1st. Feb close 6.75p/7.25p.Investors share.Patience required.imho,dyor.

copied from advfn:-
Youngers - 3 Feb'05 - 11:45 - 2601 of 2642


I think I can provide some insight into the accounting changes they made today as I was the person who phoned the company to inform them of the errors that they made.

There were two main things.

Cashflow statement.
They forgot to account for the acquistion of the subsidiary in the cashflow. The effect of the acquisition was that stock/debtors/creditors for the group all increased (as they would for any acquisition). However when you prepare a consolidated cashflow you remove this effect from the movements in working capital. The company did not do this. Consequently the working capital showed a large outflow and the group showed a cashoutflow from operating activities despite making a profit (this is what highlighted the error to me).

On correcting this you now see a cash inflow. This I feel is very positive and the original release was an own goal by the company in this respect.

Profit and loss account.
Goodwill amortisation was put in the wrong place in the P&L. It should be above operating profit but was in fact put below. This makes very little difference as the intelligent investor adds back goodwill amortisation anyway.


The final point to make is that a company of this size has to rely on its auditors to get these disclosures correct. As I used to be an auditor seeing these types of errors in accounts is not abnormal. What is abnormal is them being released to the market post audit. THIS WAS A MAJOR AUDIT FAILURE and they should be sacked for this.

I have a small shareholding in this but did not sell on finding the errors. They are purely accounting and do not affect the underlying business. Congrats to all those who topped up in this mornings dip.

Youngers - 3 Feb'05 - 16:45 - 2607 of 2642


Ironic thing is the correct figures are better than the first numbers. The goodwill error in the P&L makes no difference as it is only presentational and you strip it out anyway. (This is why every company shows goodwill separate on the face of the P&L to allow investors to remove it, not because they have to show it there)

The cashflow was a big own goal. When I first looked at the accounts and saw a profit and a cash outflow from operating activities I was seriously concerned. That is a very bad sign, shows they have completely lost control of working capital which raises issues of debtor recoverability and stock obsolescence.

I quickly realised however that it was completely wrong. The new numbers are much better and in my opinion should have a postive effect on share price. However post Enron, worldcom etc the market takes a dim view of accounting errors.


As for reading accounts CAECILUS its not easy and just takes practice which I've had plenty of as I prepare financial accounts for a FTSE 250 company.

Thank you for the encouraging info Lex-I will watch and maybe pick up a few long term.

moneyplus,you are more than welcome.All here to help each other and be there for moral support when needed! In no doubt that mms have "played sp and investors".They make the market someone always looses for others to make gains.Back on I course now I think.Patience and long term the right attitude here.Here's something off advfn.if you're interested.imho,dyor.
regards
lex

lex1000 - 5 Feb'05 - 13:40 - 2646 of 2646 edit


Mach10,.Posts were aimed directly at me and have said my peace.Whether it falls on deaf ears is another matter.I mean no harm but enough was enough.Forgotten have moved on and hope others do to.I understand what you mean on credibility problem but in my opinion is not as serious as you may think it is.Society is full of dodgy people inevitably here on bulletin boards,police,legal and financial systems ,local and central goverments, world organations and of course companies are no exception.I consider PPR as a company to be of high integrity and good repute.This has not stopped me from pointing out certain matters in black & white by e-mail and or having full discussions when the company has telephoned me back. The credibility problem the main one in my opinion is this.In newspaper,the Daily Mail article included this "Early-stage Companies offer some more shares to replenish their coffers. But Thomas says: 'I would be disappointed if we had to go for additional funding....." This was on 28 August 2004.What happened next? 27/09/04 07:00 UKREG Additional Listing Pentagon Protection is pleased to announce that on Friday 24 September 2004 it
placed 9,600,000 new ordinary shares of 0.1p each ("Ordinary Shares") in the
Company at 6.25p per share to raise #600,000 of working capital for the Company.The shares have been placed with institutions and clients of the Company's broker, Seymour Pierce Ellis Limited.My personal viewpoint is this. Yes a credibilty issue particularly as placed at a discount to market price and private investors did not get a look in.Philosophical that company needed quick and cheap way of raising working capital for global expansion of the company.The most recent announcements
14/01/05 13:39 UKREG Additional Listing
02/02/05 16:51 UKREG Final Results Replacement
are negative purely on sentiment alone.The first on additional listing was already in the market place and public domain since November 2003.Payment for the flagship business "Filmtek".The second Final Results needed Replacement to be correctly reported in accordance with LSE rules.Brokers advise on these things.Typing error,human error was unfortutunate,however,replacemnet was no cause for panic and would draw attention to earlier posts by Youngers - 3 Feb'05 - 11:45 - 2601 and Youngers - 3 Feb'05 - 16:45 - 2607.Additional listing was immediately proceeded by broker meeting rumoured reports and reports in the press.Final Results Replacement was exactly that,perceived as negative but imo & in reality not.Personally I feel that in an ideal world a generalised statement with explanation as to what it meant in practice for the benefits of uninitiated inexperienced investor and issued RNS including confirmation of contract win(s)in other words good news.Thought share price has been very strange and all things being equal should not have dropped below 8p let alone 7p.It is as if the market,the market markers knew that the most recent announcements were coming.Funny temporary halt to rising trend wrong footing chartists. sp dropped to critical 7p support announcement after hours Wednesday was bound to panic some holders who did not understand.Throw in the derampers and what a performance by mms down from 6.75p/7.25p to 5.5p/5.75p on sentiment for fundamentals have not really changed.Bar Stewards another name for mms when they sit and wait for holders to give away their shares so freely.It is all legal.Do not have to sell no one forcing you too.

Mach10 unable to quote margins to you as i don't have or know them.Automobile supaglass ticks along,Promarker will not be as big this year as legislation does not kick in as soon as thought.Reason for distribution discussions.The potentially big money earner is Filmtek.company make no bones about that and the real reason why I invested in the first place.Peter Mukerjee did confirm that Pentagon have favoured manufacturers of film,can move between one and others.This knocks risk factors back into touch originally raised by saucepan .PPR are therefore installers and not manufacturers for anyone who does not know.The intellectual property which PPR owns is twofold,adhesive and techniques used.Work is guaranteed depending on in accordance with manufacturer,whether inside,outside and so on.Did not bother to pursue actual time period of guarantees.The company has a stronger year end finish and constantly looking at intervening period.It is better to look upon investment as a long term.Company is actively pursuing global expansion with International sales the strategy as included in news announcements.The company has taken on board comments about private investor relations and will be looking to be making improvements.Get the impression that the company are working very hard on behalf of themselves enjoyable rewarding work,the company and shareholders .To throw doubt on the integrity of the company,PPR board any specific job title or individual within it is imho mischievous.I'm expecting another good year in 2005 building on 2004 gains and have higher expectations from 2006 onwards.mms have had their fun and taken some pounds of flesh.Charts and sp returning back to normal.Do not pretend to be anything less than enthusiastic about PPR.If derampers have panicked anyone out of PPR from 6.75p down apolgise on their behalves as they are unlikely to do so.I am not clever.Please do not trust anyone.imho,must dyor.

regards
lex

Thanks again. Agree with your comments. MP

John,a very good morning to and ppr @ 7p/7.25p.Watch support building @ 7p.

Sellers were dumping when sp recently failed chart breakout above 7.75p and more when mms pressing panic buttons last week.There was no reason for any panic restated results read better.No time like the present to consider hopping back on board resumption of rising trend.healthy buy volumes end of last week.Illiquid share and mms now on full ask.imho.

John,7p/7.5p.

edit:disappointing dog of a share

Wouldn't mind trying to catch the bottom of these. I think I called it right when I said sell into the bounce but it's easy when you don't hold. Wish I had done so with other holdings. The spread is quite wide tho 6.0/5.25 isn't it?

all buys this morning, surely this will gather some pace on the good news released today

Any body shed some light on this share it seems to be in freefall.wouldn't pilkington owners like to bolt it on

Dum de dum

LONDON (AFX) - Pentagon Protection PLC said it won glazing protection
contracts worth over 175,000 stg from oil companies in Kazakhstan and Saudi
Arabia, and a bank in Kuwait.
Pentagon's chairman Alan Nicholl said the company has contracts of more than
1 mln stg placed in its new financial year.

Really starting to move higher now and the 3 month chart indicates a breakout.

Can't believe this has dropped to where it is. Online price have strengthened and buy limit has been cut to 250K.Could be time to buy prior to the next contract news.

Spread now 1.04/1.23 and they had about 50K on offer.Level 2 closed 4 v 1 so hopefully this is the turning point.