Can't see this getting cash flow positive any time soon and an attempt to raise cash in about a year or so looks inevitable to me, and it's questionable whether they will be able to do that now, given the history. Major shift in the business model too, effectively admitting that the original focus on SME's was flawed. They now say they are solely focussed on 'enterprise' customers but can only name a few that are on their books. The new CFO will have to bring out the cost cutting knife with some gusto, if this is to have a hope imo. DYOR
This is eating cash-$10m in 2014 and $5m in last six months Revenue as stated is a poor $4m but you have impairments against revenue of $600k-in layman terms,that's a hefty provision against sales from unhappy customers Not pretty
Gross profit v Net loss
Cutting to the chase GP shows a profit but after spending money on running the business,something unavoidable,a net loss of well north of £10m Basically a car crash
RE: Pie and pea supper
I can't put a link up but I 'think' you will find them on the news section of the site. Still digesting what it REALLY means behind all the smoke.
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