Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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20% voted against management would like to see who
They should offer to buy back shares via a tender offer
Buybacks were approved at the agm
They use £2 million to buy back shares
Tender offer?
Agm today hopefully buybacks soon and the tender offer announced at a premium
Maybe, but still don't get the investment case here.
They operate in very competitive markets with branded players with deep pockets to invest heavily in marketing spend. What do they have to offer to win there? Their prices are quite low, gross margins are too low aan their marketing spend (way too) small. Meanwhile rest of OPEX is quite high still.
I can't see this go well without a massive shift in strategy
Great news mate
Looking forward to an agm trading update
Still a wash with cash
Great to see that this has been settled in full, removes an element of uncertainty for the SP
Bought more today
The voting is open for the agm it includes the option to buy back shares
The brand architek brands are profitable but innovderma isn't
The cash burn is down significantly
I wrote to the board asking for a buy back of £1 million shares
£7 million market cap is ridiculous
If it can get to a profit you may be right, however, unfortunately it has made a loss for a number of years now and the recent results don't show this changing anytime soon.
The revenue increase is almost exclusively due to the Innovaderma acquisition - another loss making company.
Limited cash burn? In H1 2022 cash was over £17m, a year later it was £8m - the cash element of the innovaderma was only about £2m, so that's over £7m burned in a year.
Just bought in today 10k
Net cash position with limited cash burn, massive chance with rapid revenue improvement
Unsure why its valued at £8 Million
Should be more like £50 Million with a proper multiple used
Wow - good spot.
Just googled the article - link below.
Have to say i've been quite impressed with Skinny Tan. BAR has increased it's coverage in a number of supermarkets and some of the smaller Boots are now stocking more lines.
https://www.smartcompany.com.au/finance/mergers-and-acquisitions/aussie-suncare-bondi-sands-acquired-japanese-beauty-giant-kao-group/
As an example of how valuable some of these brands can get/become once they reach scale. Bondi Sands has been announced as having an all cash $450m takeover (~250m pounds).
Yep a welcome update. Not out of the woods yet, but to stop burning cash is a massive positive. A £9m valuation with £8m in cash suggests there is much upside if BOD can make this profitable
Really positive to see that the legal case has been resolved and there is still c£8m in cash, so cash neutral over H2.
Good movement in the SP today but there is a lot of ground to recover.
however, they did have £17m cash this time last year and are still loss making. If they can turn a profit this looks great value. If they just keep spending their cash to prop up a loss making business then maybe not.
Looks like they have turned the corner, backed up by 8.1m net cash against market cap of 9m
starting to look positive
Yes, it is odd. Can't see a reason: no new director buys or broker upgrades and no RNS for the past 3 days. The last one was about the CFO being poached, which is (a) now old news and (b) probably not good for the SP. Maybe there'll be an RNS after the close?
Price currently showing as near +30%
Still a long way off my break-even point.
I wonder what's behind the rise...
I was interested in this one post lockdown with the beauty business, once they bought IDP I lost interest and put on my bargepole list as I thought it was a terrible move, how right I was in hindsight. I guess there is a chance of a turnaround from here but now of course we have a recession looming and beauty treatment might be the first thing to be culled, might be priced in now but I doubt it. 10p may interest me
Yep, notice roots double effect is closing down (according to website), just clearing old stock via Amazon. For Nuthing - no longer doing online orders... - very much a slash and burn approach. I thought the whole idea was IDP had brands needing investment and BAR had cash -appreciate it's economically very tough, but the contrarian in me says now is the time to invest
this company seems very poorly run. The have "brands" with low gross margins and therefore no ability to invest in marketing, whilst operating in competitive markets. As a result these brands decline continuously. The business then does not have critical mass and things go from bad to worse. It is just all very ill conceived IMO.
i notice that Boots don't appear to be stocking this in stores anymore (although it is still available on the website). Superdrug dropped this about a year ago.
Such a shame as when the brand first appeared it did almost £1m revenues in year 1 from a standing start. Since then revenues have slowly declined despite it being picked up by Boots.
The old IDP brands are now Skinny Tan only really as the other brands (Charles +Lee, Roots and Prolong) all seem to be dying
Rewatched the recording. Telling comment was right at the end …”we expect profitability in 23/24” weird turn of phrase if you think it would be this fy -would just say 23 or fy23, so my base case is given they’re already 5 months in (& past the peak sales period for ST) then it appears they are already well behind/forecasting a loss for this FY. (Prob why they haven’t said anything, hoping it’ll turn around).
I note Peter Gyllenhammer keeps buying, looks like a good strategic shareholder to have on board, but wonder who is selling out
they can actually as it's outside market hours (so can then be RNSed at 7am tomorrow), however, surely this would have been included in today's RNS if there was anything to say.