"the Board embarked on a strategic review of the Group and has taken robust actions to reduce on-going costs in recent months. As a result, the Group is now trading close to EBITDA breakeven on a monthly basis."
The new CEO, has probably improved on this. The sales force, with gyuidance, should have pulled in new business too. If not get rid of them, and Pinn go positive EBITDA .
The revenue was £1.62m for the year ending Jan 2013. Now read the Trading updates RNS's on 24/2/14 and 14/4/14 and you will see that Revenues for the year ending Jan 2014 are set to be £14m. In addition Revenues for Q1 Feb - Apr 2014 are set to be around £14m.
I am so glad the PINN turned down the 21p per share offer from COM 8 months ago.
"It should be noted however, that following the announcement of the Interim Results to 30 March 2013, the Board embarked on a strategic review of the Group and has taken robust actions to reduce on-going costs in recent months. As a result, the Group is now trading close to EBITDA breakeven on a monthly basis."
Grateful if you could paste a copy of this update with the date of the rns from which it is extracted...I cannot see any reference to achieving breakeven ...scanning through recent rns...but I may have missed it
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