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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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