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yes I think we can all agree which way the cash is flowing but to invest we would need to have a better idea of what we think is going to deliver the revenue growth we need now the software has been developed , would it be the mobile game advertising side of the business
Stifel are forecasting an underlying cash burn of £7.2m for 2021 (The £7.9m EBITDA less non-cash costs).
However, they are also forecasting £2.7m of positive working capital movements so the net cash outflow for 2021 is forecast as £4.5m.
The working capital movements are mainly an unwind of the large receivables at the end of 2020, plus will include the two cash payments received of £0.5m+.
These movements will happen in the first half of the year so cash at the end of June could be £1.4m (opening cash of £2.3m, plus £2.7m working capital movements, less £3.6m underlying cash burn.)
RoleyB - we know one of those senior people moved to a new position - Linkedin hasn't been updated for the other. There's no implication that either was pushed out. Operational costs need to be considered as a loss offset by future value accrued...OTOH, good budgetary control must be recognised and welcomed?
clark777
Stifel/Bids have re-forecast a loss of £7.9m for 2021 and a further loss of £8.1m for 2022.
So losses per month for 2021 are £658,333...
Those are their numbers.
end Jan - £2.7m
end Feb - £2.04m
end Marc - £1.38m
end Apr - £723k
end May - £64,668
Add in receivable of £500k from HMRC R&D Credit in June leaves you
end June - (£94,165)
Using the companies own statements they must be close to the wire.
Seeing other posters stating that two senior people have left the company end May and into early June it would seem the company may (and I state may) be cutting costs to get through June.
Cash burn last year 600k a month. This year expected to be higher according to the broker.2.7 million at end of Jan should have been exhausted comfortably by now. Something has happened. We are running on fumes or some significant is brewing