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.

check first thing in the morning, and if not bouncing - wall street is strong - then indication is for continuing fall .... but it's your money and your risk

Note and comment from Cenkos:
"We had a conference call with PDX yesterday in light of the recent collapse in their shareprice. I came away from this more convinced than ever that the recent bear raid has created a great opportunity to buy the shares, and our analyst Peter Read will have a note out later today. We spoke to amongst others the head of the brewing business line, the head of ethanol and one of the non-execs. A so called 'dossier' supposedly dismissing PDX's technology has been a feature of internet �chat forums�, PDX went line by line through this 16 page powerpoint and pointed out inaccuracies, false assumptions, claims which appeared to be based on PDX data but are not, as well as omissions of various positives.
Suffice to say the rebuttal of the bear story was extremely robust, particularly convincing when the head of brewing is the ex head of GEA's brewing systems division and therefore extremely credible on the strengths of PDX's offering, the cooperation with GEA that is underway and the factual errors in the 'dossier'. Brewery installations expected to be completed this Q include Oettinger, the 2 �global players� referred to at the last update which the market rumours have suggested are SAB and Heineken and 1 more customer each in US and Germany. In Ethanol, 2 plants are fully installed and management sound extremely happy with their performance, 6 more installations should be complete by September. The Proctor and Gamble deal is �on schedule�, National Nuclear Laboratories revenues �will not be long� and the management pointed out that the Fire Suppression, decontamination and water business lines are not referred to in the �dossier�.
Finally the rumour started on the web that the CEO may stand down or be sacked was firmly dismissed by the NED � �the Board are very happy with the direction and the progress of the company and its management�. This management team has strength in depth and is delivering, they believe revenues will be delivered this financial year which will prove the success of the model. We agree and reiterate our BUY with �11 price target for Dec 2011. Recent price action has seen substantial volume with no signs of selling from the 65% core shareholders. Ignore the noise created by the shorters and BUY at this level.

Mirabaud and Cenkos are both laughing stocks to say that it is worth 2000p and 1100p respectively.

beautiful rise up over the past couple of days.

just about the only share doing so.

Pursuit Dynamics (PDX), the developer of the PDX Atomiser and PDX Reactor products and technology, has announced results for the six months to 31 March 2011 showing revenue over the period was up to 105k (2010: 79k).

Cash operating loss for the period was 5.0m (2010: 2.7m), reflecting the costs incurred in strengthening of each of the Lines of Business through increased investment in essential product development work, sales and marketing.

i starting to smell bears burnt fingers who have been shorting the last 4 days

One of the biggest casualties today... truly over-rated... 20p will be good value for it.

Dropping 15% this am but stillpricey.

Gausie - remember these? :-)

Final Results.

Shares on loan.

Quick sell now the ceo is .

Another profit warning... loss before tax of 15.3m (2009/10: 8.7m)

20p would be right .

BusinessWeekly.co.uk
Thursday, 15 December 2011 09:18 Tony Quested

Pursuit Dynamics in freefall: losses double, CEO quits

Pursuit Dynamics, the Cambridge UK technology business, was plunged into crisis when CEO Roel Pieper quit, losses almost doubled and revenues nosedived for the year to September 30.

News of a proposed rights issue to raise 9.38 million couldnt prevent the share price losing 123p 60.52 per cent to 80.25p.

Non-executive chairman Andy Quinn said that Pieper had resigned with immediate effect for personal reasons and he will return to his venture capital activities.

Non-executive director Jeremy Pelczer, who joined the board in June 2011, has assumed the role of interim CEO. He has held senior positions in engineering and industrial businesses including serving as CEO of RWE Thames Water and American Water.

The company claims it has the support from institutional investors to subscribe for all of the proposed new PDX shares and the issue is due to raise 8.8m net of expenses.

PDX said the proceeds would provide further funding for the commercialisation of its technology portfolio.

Quinn said: Although the generation of revenue and cash from the commercialisation of PDX's reactor and atomisation technology has progressed at a lower rate than we had anticipated, giving rise to a need for additional funding, PDX's prospects remain strong.

We are pleased that our institutional investors have demonstrated their commitment to the company and its technology by supporting this fundraising.

Revenues for the year plummeted to 490k from 128k. The loss before tax was 15.3m _ up from 8.7m last time. The company had cash of 7.3m at period-end.

The board said it expected the business to be cashflow and EBITDA positive before the end of the fiscal year. The Board and new management team have already initiated a rigorous review of operating cost which is expected to reduce expenditure by some 3m this year.

Quinn said: We enter 2012 with improving contract visibility and confidence that the revenue profile of the business will develop as expected.

The planned fundraising we have announced today should assure shareholders, customers, and suppliers that our business is well-equipped financially to take full advantage of the opportunities we are generating.

Ouch!

They were fun for a while - but it was a long long time ago.

8.8 million fundraising is nothing compared to the losses it incurred.

hlyeo98: yes but the surprise is big investors didn't mind "pumping" (geddit?) more money in, when they did and presumably the losses were building - although there may have been a "big order" anticipated that melted away even after some robust (and dedicated?) investment.
Very few Companies can resist spending their shareholder's money to reap rewards for the Board. They treat Co money as "free" - to be gambled with. Whereas if a potential customer is interested, it is they who should pay for development, since it locks them into the project and costs Small-Co nowt, when/if Big-Co walks away after 6-months.

News 15Dec2011:- losses cause big fall in sp
Oh deary, 15m loss on a turnover not much larger than two corner-shops. No wonder the CEO wanted OUT.
Not one of mine as I disliked the IP...

It will fall to 50p.

So funny if you read the broker note from Cenkos (post 936) - so much hype you can't imagined.

a disaster of a company.