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NEWSFLOW ARTICLE

Xeros gets funding away, the Covid bandwagon…...Should Bulls celebrate or Bears prepare the table?

2020-04-26 09:49:05

I take my hat off to Woodford dog, revolutionary washing machine maker (geddit?) Xeros (XSG). It closed Friday with a market capitalisation of about £6 million, according to ADVFN, and has just raised another £6 million without totally crashing the share price. In the current environment, that is quite an achievement – especially since the company has been a cash-burning dog all through its life. What might we learn?

ARTICLE

Want exposure to a Neil Woodford AIM dog? Today’s Primary Bid Offer closes at 3.30 PM but Cheryl Cole shows the way

2020-04-24 10:00:03

With other folks cash, Neil Woodford was a big fan. The company has missed all its targets to date. Even now, having belatedly slashed costs, Xeros (XSG), the company founded to disrupt the world of washing machines, does not expect break even until Q2 2022. What could possibly go wrong? I reckon there is more chance of me shagging Cheryl Cole by Q2 2022 than of this company reaching breakeven by 2022 but we shall see. Anyhow if you are tempted, not by Cheryl – that is a given - but by Xeros here is your chance.

NEWSFLOW ARTICLE

Xeros Technology – this Neil Woodford dog completes fundraising… for less than it wanted & with pitiful director participation…

2019-11-20 14:08:25

Xeros Technology (XSG) has updated commencing; “Following completion today of the placing and open offer announced on 31 October 2019 in which certain members of the board participated at a price of 1p per ordinary share, the company provides the following update regarding the holdings of the directors:” – and the shares have currently responded higher, back above 1p…

ARTICLE

Xeros Technology – open offer a near bust; another Neil Woodford pick heading for ‘washout’?

2019-11-19 08:22:21

Having listed on AIM in March 2014 at 123p per share, Xeros Technology (XSG) recently announced it “proposes to raise approximately £5.0 million before fees and expenses by a placing... an open offer to raise up to £2 million before expenses… at an issue price of 1 pence per share”! As Nigel Somerville noted, it another rescue bailout fundraising for what had been styled as a ‘revolutionary’ (this time in the world of washing machines) – and thus, natch, Neil Woodford was a major investor. Now “Results of Open Offer”

ARTICLE

Xeros - revolutionary washing machine rinses Woodford away: placing at just 1p but shares down to 0.93p. Grim Reaper time.

2019-11-01 10:30:29

Neil Woodford Uber-dog Xeros Technology (XSG), the great man’s revolutionary washing machine outfit, announced a rescue bailout placing at just 1p at almost lights-out yesterday – 3.46pm, just two minutes after announcing the appointment of FinnCrap as its Nomad and Sole Broker. Times must be really tough for FinnCrap, I guess any retainer will do when you have bills to pay. But forget's Finncap's abandonment of claims that it only acts for quality companies, the real story here is that the losses for Neil Woodford’s former investors at WEIF and WPCT are staggering – and now look set to hit 100% as the stock is trading below the placing price.

ARTICLE

Neil Woodford dog Xeros Interims – a "disruptive" wash-out

2019-09-19 09:16:08

Neil Woodford dog, AIM-listed revolutionary washing machine purveyor Xeros Technology (XSG) has released its interim results this morning and the news is grim: revenues of £1.6 million led to a pre-tax loss of £9 million. Ouch.

NEWSFLOW ARTICLE

Neil Woodford Dog Xeros – washing machine malfunction as the spin cycle starts ahead of the rinse

2019-09-07 08:17:23

Neil Woodford’s favourite revolutionary (geddit?) washing machine outfit, AIM-listed Xeros announced some apparently good news this morning. I say apparently – it is a licensing deal for its washing machine technology but came with absolutely no financials whatsoever. What is the point of that? I thought RNSs were supposed to inform. But in this case I suggest it is not so much to inform as to ramp the shares up as the company tries to get a bailout funding away. I suspect the more important announcement was the one that came later in the morning, at 11.06 am, announcing that interims to June will be released on 19 September – a week next Thursday. I’ll mark that one in the diary…….

NEWSFLOW ARTICLE

Woodford revolutionary washing machine cash-hungry dog Xeros announces an attempted related party fundraise as predicted. So much for the Going Concern – it’s Ouzo for breakfast

2019-08-14 09:27:35

Only last Friday I predicted a fundraise by AIM-listed Neil Woodford backed cash-hungry dog Xeros (XSG), pointing out that Neil hadn’t any cash, in the wake of news that Xeros had sold its US washing machine business. Amazingly, the shares went up even though it was clear the company needed cash and was still haemorrhaging money faster than your average washing machine drains water. The passing of this crock as a going concern by the auditor as a Going Concern only at the end of April will have shareholders all in a spin (that’s enough washing machine gags – Ed). Well blow me down with a feather – its Ouzo time.

NEWSFLOW ARTICLE

Xeros sells washing machines business - but when's the placing, Neil?

2019-08-09 08:14:07

AIM-listed Xeros (XSG), Neil Woodford’s cash-hungry revolutionary and disruptive washing machine play, has sold the majority of its portfolio of its Hydrofinity US commercial laundry customer portfolio of leased machines to Eastern Laundry Systems and Wash IQ for $109,000 is cash up-front and on-going license fees. The contracts had offered up an adjusted loss (gross loss before exceptional cost of sales items) of $376,000 in 2018 so this is hardly a win – more a case of off-loading a loser.

NEWSFLOW ARTICLE

Xeros Technology – 2018 results… to be calling Neil Woodford with a ‘bring the cheque book’ AGAIN!

2019-04-30 14:31:32

Self-styled developer of “disruptive water saving technologies”, Xeros (XSG) has announced 2018 results headlined “good progress towards licensing model”. Natch, with “disruptive” being bandied about here, Woodford’s also about (39.71% shareholding). “Good progress” then?...

ARTICLE

Xeros Technology – Cynical Bear was right about this Neil Woodford Dog!

2018-11-27 03:35:28

Another day, another Woodford disaster story hits the headlines – this time in the form of AIM-listed Xeros Technology (XSG), which Cynical Bear had postulated would be this year’s RM2 disaster. Well, it’s run out of money again and guess who’s footing the bill (with other people’s money)?

NEWSFLOW ARTICLE

Xeros Technology Group: More cash please, Mr Woodford

2018-09-13 08:47:18

Nice of Tom to set me up for this one today with his preview yesterday (HERE) and, to no-one’s surprise whatsoever, Xeros Technology Group (XSG) published its interims this morning showing continued significant cash-burn and a need for another chunk of dosh from Mr Neil Woodford and his pals.

NEWSFLOW ARTICLE

Xeros Results tomorrow – share price tells you that this Woodford dog is almost out of cash ( again)

2018-09-12 09:14:58

No doubt Cynical Bear who has called Xeros Technology (XSG) superbly, as a sell, will be a smug fellow tomorrow as this Neil Woodford Dog announces its interim results. The share price action is telling you that folks already know the worst – shareholders have to bail it out again or it will be going down well before the Christmas decorations go up.

NEWSFLOW ARTICLE ARTICLE

Woodford-backed Xeros Technology: Is this 2018’s version of RM2 International? A resounding “Yes” so far!

2018-04-19 01:11:52

Just before Christmas, I asked the question whether Woodford-backed Xeros Technology Group (XSG) would be this year’s RM2 International (RM2) in dropping from a £200m+ valuation to something close to 10% of that. Today’s results confirm that it is well on track.

ARTICLE

Neil Woodford backed Xeros Technology: Is this 2018’s version of RM2 International?

2017-12-19 01:45:24

As a natural bear, I’m always interested in finding the next £200 million plus business that could lose 90% in a year a la RM2 International (RM2) this year (see question 4 of my Alternative Woodford Christmas quiz) and I didn’t have to look far for the next possibility; just a bit further down the alphabetical list of Woodford’s holdings in fact, namely Xeros Technology Group (XSG).

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