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SMN - Structural Monitoring Systems

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The CR sort of confirms my thoughts from a couple of months ago, SH's being diluted again.
 
Looks like not a happy family

The received notice requests the convening of a general meeting of the Company to consider, and if thought fit, pass the following resolutions as ordinary resolutions:

RESOLUTION 1 - Pursuant to section 168 of the Companies Act 2006 and for all other purposes, Directors

MICHAEL REVELEY AND STEPHEN FORMAN be REMOVED as Directors of Structural Monitoring Systems (effective immediately on passing this Resolution).

RESOLUTION 2 - Pursuant to section 168 of the Companies Act 2006 and for all other purposes, BRYANT MCLARTY be APPOINTED as a Director of Structural Monitoring Systems (effective immediately on passing this Resolution).
 
Approval getting very close.

The above issue mentioned by Country Lad has now been sorted, I believe to shareholder satisfaction.

I am in for the long term.
 
Once again delayed by FAA requesting minor adjustments in paperwork of the procedure manual. Has been an excellent opportunity for other shareholders and myself to top up our holdings while waiting. Well passed the stage where the process is acceptable to FAA. Just awaiting the announcement.
 
Still on my watch list, if they can execute and become a viable business I may take a small position.
 
Still awaiting the FAA approval. Has given me a great opportunity to buy more these past couple of months. Did not think I would have been able to top up at these prices.
 
Looks like the deferred CR is underway again. No doubt the recovery in the share price has made it an attractive time to have another crack at it, especially as its prior to the release of the latest 4C.
 
yes the CR is announced today

looks a little complicated , will fly it by a more experienced buddy ( if to buy in before the CR )

DYOR
 
Have picked in the monthly again. Quarterly says this is the month. Patience needed, but my SMSF has handled the wait by buying more.
 
Decided to have a quick look at this one as it is within my circle of competence.

I have concerns.....

Let me just leave it at that as I don't want to defame anyone. My personal opinion only. No position in this one. My concerns may be completely wrong.
 
Touch & go whether they can survive, only a couple of hundred thousand in the bank, over 5m in borrowings, its in a precarious state. Need to get that capital raising away ASAP.
 
better acknowledge the news that is driving it higher (today)


And odds of a Cap Raise?
 
Not something i would bet against!

Its great news for a business on the edge of survival, now the test is whether the company can become investible on the back of this. Needs a lot to go right, but i will continue to watch with interest.
 
and a director buying on market - paying full dollar
Date of change ........... 07 March 2022
Number acquired ........ 100,000
Number disposed ....... Nil
Value/Consideration .. $105,000
 
galumay said:
but i will continue to watch with interest.
Click to expand...
I have been watching with interest for years! I thought the product was a real goer technically and bought in July 2014. Started to see some of the headwinds and the very long haul to achieve the various approvals and sold exactly 2 years later.
I still feel that the concept and product has real potential but the question will be whether the approvals will result in significant sales and profit. Probably, but I will continue to sit on the sidelines to see what eventuates. Mind you I give them 10 points for perseverance.
 
The share price has improved in March following receipt of the long awaited FAA approval. The price has been held back for now with the rights offer that closed yesterday and possibly with some shareholders selling held shares to purchase new rights shares that have additional options attached (1 option for each 2 shares purchased).
With the rights issue out of the way I am expecting a presentation outlining what plans they have for the future now that funds are held and possibly an announcement of the first contract with Delta. That is when the share price will start to move again.
 
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