PIPWHAWK UPDATE

Where are the results?

So one of the "buy" reasons back in sept/oct was the fact that the results were going to be earlier than usual, in October, rather than November. This was seen by myself as a very good sign, you dont rush out bad results. Its now 24th November and no results so does that mean bad news coming? I think not.

Communications with The Chairman

Ive had quite a few emails with Gordon Watt the Pipehawk chairman. Pipehawk themselves were good to go with the results in October but the rate determining step is their joint venture in which they have a 28% stake, SUMO. 
SUMO have/had a different reporting cycle to PIP but with a new accounting rule, they need to have data no longer than 3 months in the past so they are having to compile data up to June that they were not prepared to do. Added to this, the man in charge of it went off sick and the replacement left so they have been struggling to get their results to PIP for PIP to include in their results. 

Gordon Watt is as annoyed about this as I/shareholders are, perhaps more so! He hasnt told me anything price sensitive but you really get the impression they want these results out for people to see what progress they have made. 

The second half of the year was better than the first half which was better than last year. They really are accelerating now with the promise of more Hadley deals as this first 600k one finishes in Dec and there are x2 more to come.

What do i expect the results to show?

Clearly a difficult one but headline figures should be a profit after tax of at least £200k. Possibly a lot lot more. I expect to see a nice trend from last year and even half on half. I expect a bullish trading update with higher profits preddicted for the next year.
I expect the SP to react accordingly with an SP of 15p and an mcap of £5mill for starters.

Current Charts

The RSI has cooled off to under 30 now, having been 90+. As seen before, PIP moves very fast on any volume. I think the perfect storm of massively oversold and superb results could spike this quite high indeed. With all of AIM crying out for a bagger could everyone jump on this and have one of those AIM meg risers? I still hold and look forward to the results that PIP wanted out weeks ago.