A technology nugget the market really HAS missed.

Heard that sort of ramp before........
But this needs serious checking out!

Cash in bank 3.5 million, profitable, (expects about 600k for full year) no gearing and recent 2.6 million contract announced............ Dilution amounts to a miniscule .01p per share. Shares 70.5p.

What would be a fair market cap? 12 million 15, 20??

Total Systems, TTS has a market cap of 7.4 million.

This borrowed from a poster elsewhere. As he holds sure he won't mind me using it here:

The balance sheet is very strong with 3.5 mill spare cash floating about. So with the current market cap only 7.3mill (10,513,376 shares x 70p) we`re only really paying 3.8 mill for a business

a) with 4 mill turnover
b) made 596k pretax profit last year
c) paid 2.7p dividends last year (a yield of 3.9%)

d) said this in the interim statement "In my Chairman's Statement for the year ended 31 March 2003 it was anticipated that the performance of this financial year would not show any improvement on the previous year. This remains the case regarding turnover, but
profitability should improve as a result of reductions in our cost base. Continuing delays in the signing of significant new business make it extremely difficult to forecast future performance.

That was before the 2.6 million contract was signed........

A little cracker.

If anyone would like to insert a chart, please feel free, technocrat!!

I am told this has been tipped in the Sunday Business today.

At 51p this gets a "free lunch" rating from me.

Freehold Property in Central London on books at cost of 0.76M. In 19 years this will have trebled at least. So worth around 2.5M with taper relief all but eliminating capital gains tax if property sold.

So current market cap of 5.4M more than covered by net cash(3.4M) + property (2.25M).

And there is a major software release next month of the Total Fund Manager which has been under development for a few years now.