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Oi Corero: sales are vanity, cash is reality, your trading statement is meaningless and your valuation is a total rum ‘n’coke

2021-07-20 08:08:58

I say that sales are vanity but today’s “record” half year trading update does not seem to have much to boast about in that department and as to profits? Er… dream on. For Corero (CNS) that is the stuff of shagging Cheryl Cole land. It is pure fantasy.


Corero Network Security – full-year results, how “encouraging” are the levels of business activity?...

2021-04-13 11:44:30

Previously writing on cyber network security company Corero (CNS) I noted having warned on the balance sheet position, now “New borrowings facility”..., concluding the £68 million market capitalisation looked to demand clear evidence that the business can deliver materially profitable bottom-line performance from here. Today full-year 2020 results...


Corero Network Security – I having warned on the balance sheet position, now “New borrowings facility”...

2021-04-08 11:14:30

Previously writing on self-styled “a leading provider of real-time, high-performance, automatic Distributed Denial of Service cyber defense solutions” Corero Network Security (CNS), in January I questioned the overall balance sheet position. Today “New borrowings facility”...


Corero Network Security – “revenue ahead of market expectations” but what about non-vanity metrics?...

2021-01-19 14:30:27

Self-styled “a global leader in real-time, high-performance, automatic DDoS cyber defense solutions” Corero Network Security (CNS) has made a trading update emphasising “Revenue ahead of market expectations driven by record order intake”. As I though previously questioned, is there really “solid foundations” here?...


Corero Network Security – argues order intake “positive progression”, but is there really “solid foundations”?

2020-12-10 10:00:39

Corero Network Security (CNS) has made an “Order Intake” update, emphasising “positive progression… reflected in the associated order intake of more than $3 million in the first two months of the final quarter of 2020” – and the shares have currently responded to 9.5p, more than 15% higher. Does this look justified?...


Corero Network Security – AGM “Proposed Share Option Regrant” disgrace

2020-05-18 13:53:28

Last month DDoS defense network security company Corero (CNS) announced 2019 results, with “Financial Highlights” including even “EBITDA loss of $2.8 million (2018: loss $2.1 million)” and “Outlook” that “whilst we have not to date seen any significant short-term impact on the provision of our products and services, and the sector within which we operate, we are of course aware of the negative impact the pandemic is likely to have on our end-customers. The board therefore continues to monitor the situation very closely”. Now “Notice of AGM and Proposed Share Option Regrant”...


Corero – argues recent fund raise “providing the funding required to execute on the company's growth plans”. Does it?...

2020-01-21 14:59:23

Corero Network Security (CNS) has updated with CEO Ashley Stephenson emphasising “our strong order momentum in the second half of 2019, combined with our higher levels of recurring revenue and strong new business pipeline, provide Corero with solid foundations for 2020”. The shares have currently responded higher, towards 6p but that still compares to more than 12p at the start of 2019…


Corero – forget further SmartWall development and sales & marketing, it’s a bailout fundraising…

2019-11-25 11:50:56

“Corero Network Security plc (AIM: CNS), the network security company, is pleased to announce a conditional placing and subscription to raise up to £3.25 million”. Hmmm…


Corero – “pleased to announce new customer orders”… but what about still a required, material fund raise?!

2019-10-30 15:28:50

An “Over $1.0 million of customer orders secured” announcement from Corero Network Security (CNS) – and the shares have responded currently approaching 10% higher. So what’s the detail?...


Corero Network Security – interims argue “well-placed for growth”. Er… what about the required, material fund raise?!

2019-09-25 14:25:44

Corero Network Security (CNS) has announced results for the first half of 2019, including emphasising “the board continues to believe the business is well-placed for growth”. Having commenced the year heading towards 13p, the shares are currently a further more than 5% lower today heading towards 2.5p. Hmmm…


Corero – a big stock overhang, no earnings visibility and the threat of a placing – what’s not to like?

2019-08-19 15:55:50

Steve Moore and I have been perma bears of software dog Corero (CNS) for many moons. Of course some folks knew better, notably City investors Miton which built up a stake of 15.89% across two of its funds. Then last week Corero issued a shocking warning which Steve covered HERE and I covered HERE.


Corero Network Security – 2018 disappointment follows 2017 disappointment, and 2019…

2019-01-03 04:15:58

“Trading Update” from Corero Network Security (CNS) emphasising “order intake for 2018 is expected to be approximately 20% higher than 2017, driven by record order intake in H2 and the final quarter”“SmartWall revenue growth of approximately 20% over the prior year” and “significantly reduced EBITDA loss to approximately $2.5 million”. The shares have currently responded, er, approaching 6% lower to 12p…


Corero Network Security – “Customer wins”: argues “particularly pleasing”, what’s the detail?

2018-10-23 14:30:41

“Customer wins” announcement from Corero Network Security (CNS), including President and EVP Sales & Marketing, Andrew Lloyd, emphasising “to have secured another new customer for our 100Gbps SmartWall technology following a rigorous selection process is particularly pleasing and highlights the key competitive advantages and uniqueness of our solution”. Ok, so what’s the order detail?...


Corero Network Security – “a transformational deal”? Hmmm…

2018-10-20 07:12:55

Shares in Corero Network Security (CNS) have risen back above 10p, with the company announcing “Completion of Subscription” of $2 million from Juniper Networks (NYSE: JNPR)…


Corero Network Security – “excellent operational gains” & ‘confidence in prospects’. Really?

2018-09-06 15:29:57

Corero Network Security (CNS) has updated including it “has delivered excellent operational gains in the first half of the year, which, coupled with its new business pipeline and developing go-to-market partnerships, gives the board confidence in the company's prospects”. Currently at sub 8.5p though, the shares remain comfortably below 11p they approached in May and 20p of a couple of years ago…


Corero Network Security – following the pump…

2018-04-05 08:10:21

Following thus far in 2018, 3rd January; “Significant Contract Wins”, 14th March; “Customer Wins” and as recently as 3rd April; “Customer Wins” - as warned, Corero Network Security (CNS) is now “pleased to announce a conditional placing and subscription to raise approximately £4.0 million ($5.6 million) before expenses”


Corero Network Security – ‘Customer Wins’, though still what about the cash crunch ahoy?

2018-03-14 08:39:29

Customer Wins announcement from Corero Network Security (CNS). When I last updated in January it was “Significant Contract Wins”. Hmmm, what about the cash crunch ahoy?, so what now?...


Corero Network Security – “Significant Contract Wins”. Hmmm, what about the cash crunch ahoy?

2018-01-03 03:58:18

Corero Network Security (CNS) “is pleased to announce” combined customer orders “worth in excess of $400,000 for SmartWall products and related one-year support services”. What’s the detail and import of this?...


Corero - not just a contract win, but a “Significant Contract Win”. Ramptastic again?

2017-12-14 06:14:58

Not just a contract win, but a “Significant Contract Win” announcement from Corero Network Security (CNS). Ooooh. With results for the first half of 2017 having shown an increased loss of $4.8 million on revenue only slightly higher to $4.8 million – and this following a more than $8 million loss, even on an adjusted basis, for the 2016 calendar year, what’s the “significant contract” detail?...


Corero - 4th bit of "good news" since interims - look at the balance sheet it is placing ahoy!

2017-11-01 03:39:00

Corero's (CNS) disastrous interims were just six weeks ago and since then we have had four pieces of good news announced with great, ramptastic, fanfare: two contract wins, a new partnership agreement and, today, a contract renewal. It can only mean one thing, this is the pump before the dump, it is placing ahoy. Just look at the historic numbers and do the maths...


Corero – why shares down despite recent “Significant Contract Win” & “Partnership Agreement” announcements?

2017-10-14 00:10:00

Despite accompanying half-year results last month with a “Significant Contract Win” announcement, shares in Corero Network Security (CNS) still declined. This week has seen a “Partnership Agreement” announcement – with the same result…


Corero – attempted General Election results day options re-pricing sneak-out

2017-06-09 07:30:16

Corero Network Security (CNS) “announces that certain existing options over ordinary shares… granted to certain directors of the company have been cancelled at the directors' election and new options over the same number of ordinary shares have been granted to those directors at a revised exercise price”. Hmmm, “cancelled at the directors' election” and re-granted at a “revised exercise price” announced on General Election results day. I’m guessing the exercise price hasn’t been “revised” upwards!...


Corero Network Security – service launch of a contract announced a month ago. Ramptastic!

2017-05-22 03:35:39

An announcement from Corero Network Security (CNS) with a headline “Corero Tier 1 Internet service provider customer GTT Communications, Inc. launches DDoS Mitigation service”. Then “further to the announcement on 19 April 2017 regarding a Global Tier 1 Internet service provider customer win… announces that the customer, GTT Communications, Inc. (NYSE: GTT), has launched its DDoS Mitigation service”“Global Tier 1” now hey! And you what? The contract win has already been announced? Ramptastic…


Corero – announces “secures second $1m+ SmartWall customer”. How much is the order for?

2017-05-17 08:44:50

An announcement entitled “Corero (CNS) secures second $1m+ SmartWall customer”. Sounds good but, having previously written bearishly on this company, let’s take a look at the detail here…


Corero – 2016 results & “pleased to announce” placing. I bet it is…

2017-04-06 04:00:19

Corero Network Security (CNS) “is pleased to announce… it has conditionally raised approximately £5.6 million… at a placing price of 5p… to support SmartWall sales and marketing activities in the US and Europe, for further development of the SmartWall product and for the general working capital requirements of the group”. Hmmm, what do the also- (but not ‘pleased’ to be) announced results for the 2016 calendar year show?...


Corero – new contract & partnership + utter bullshit, cash crunch AHOY!

2017-02-09 04:10:40

Corero Network Security (CNS) has announced it “ended the year strongly… a material order for its ‘SmartWall’ Threat Defense System from a leading Cloud computing company and Juniper Networks technology alliance partnership”. Why are the shares thus currently unchanged at the 6.375p they have slumped to?...


Corero - “pleased to announce” minor contract wins, what about the cash burn?

2017-01-04 04:39:58

“Corero Network Security plc (CNS), the AIM listed network security company, is pleased to announce that it has won five ‘as-a-service’ subscription-based contracts for its DDoS protection products and technology in the final quarter of 2016”. Sounds promising. Oh, but wait… “with an aggregate annualised contract value of $0.3 million”. Hmmm…


Corero - just when is the next rescue placing?

2016-11-23 04:24:23

It was only seven months ago that AIM uber-dog Corero (CNS) appointed Cenkos as its joint broker and promply raised just under £9 million at 22p. Gosh i am glad that i am not an institutional client of Cenkos with the raft of dogs and frauds it has acted for in recent years. The shares are now just 9.5p to sell. But another bailout placing looks inevitable. Just do the math!


Corero appoints new nomad & broker - that means placing imminent: sell

2016-04-20 01:22:25

Corero (CNS) had, in Finncap, an existing Nomad and broker who the City thinks are acceptable although I regard them as complete & utter bastards. But I am even more scathing about Quindell's pals at Cenkos and today Corero (CNS) has appointed those mothers as its new Nomad and broker, 24 hours ahead of its results.


Corero Network Security - placing ahoy?

2016-01-10 01:51:04

I am bearish by nature, very cynical and get extremely grumpy about various activities on AIM, many of which appear to me simply to rip off the unsophisticated PI. And in my debut article here, that brings me to Corero (CNS).


Zak Mir's Bull Call Of The Day No.2: Corero Network Security: Above 20p Targets 30p

2016-01-07 03:15:09

Corero Network Security sounds like a company which should be at the zeitgeist in terms of an era where we are hearing of cyber attacks on an almost daily basis.


Zak Mir's Great Request Show: Ashley House, Corero Network Security, GB Group

2015-11-15 05:34:31

If you want me to analyse a stock for you just drop me a line at - Today I look at shares in Ashley House (ASH), Corero Network Security (CNS) and GB Group (GBG) setting share price targets for all three.


Zak Mir's Bull Call Of The Day No.2: Corero Network Security: November Gap Top Target

2015-09-05 00:58:33

It is evident on the daily chart of Corero Network Security that the big event in charting terms here came as long ago as the massive gap to the downside in November.


Stockpinger says research Coreo Network Security

2014-06-26 12:49:20

From wireless medical and radio chips this month’s Stockping focuses on an IT infrastructure security company, Corero Network Security PLC (CNS). Headquartered in Houston, USA with European and Far East offices, the company is AIM listed and trades in Dollars. We selected Corero Network Security for the June Stockping because out of the blue it has popped up on the Stockpinger Radar four times during May: on the 15th, 19th, 20th & 27th.


Corero Network Solutions – Speculative buy at 15.5p

2013-10-09 06:31:27

Corero Network Solutions (CNS) shares trade at 15.5p – they were 35p not so long ago - with the company having patently failed to deliver historically but I sense things are changing and the shares are a buy with an initial 25p target. 

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