Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Spending £127k a months got enough for 10 months xx
They've reduced headcount overall, 65% of a very meagre order book, cash burn is greater than revenues. The only reason they have cash in bank is due to a recent placing... You paint a rosy picture, youve just bought a lot of FAB havent you...
DrMicho,
Your cherry picking what was said.
Yes they reduced the headcount by 38% in calendar year 2023, but have been recruiting so far in calendar year 2024.
The current order book for the company's new financial year is already at 65% of total sales for last year.
The cash balance £1.2M is below the figure you quote from the placing £1.37M (but that is a gross figure you've got broker fees etc to take of that).
Yes they are still burning cash, but remember there was only £0.2M in the bank on 31 March 2023, 7 all that's come in since then was the sales, the placing & a R&D tax credit I suspect, so cash burn is not that high in reality.
LOTM
Morning Gordon, MAST, bye Gordon....
The trading statement speaks for itself, reduction in headcount, delayed projects, clients not ordering and cash burning very quickly... its not great, plus a pot of jam...
Sad indeed! He’s clearly been stung here
Micho you’re a doomslayer, this is in line with market expectations and already priced in 🙈 for long term view loooking at the pipeline of opportunities
You really are a poisonous sad man working hard this morning to extract anything negative out of the results
You are either shorting or looking for a lower price. People like yourself should be jailed trying to strike fear into people.
Sad little weasel
Carnage this morning with a heavy drop into the 2s........
They raised 1.37M in Feb and have 1.2M in March..... wont last long with hardly any revenues...
Revenues in line with market expectations.
Great the order book showing clear recovery with revenues banked already significantly up on the h1 figure
During H2 FY2024, the adverse investment conditions, although improving, continued to impede certain clients placing orders, with some pipeline projects yet to convert and some being received later than anticipated. In several cases this was due to availability of client provided materials. This resulted in revenue for H2 FY2024 being lower than was anticipated at the time of announcement of the H1 FY2024 interim results.
Who said they were recruiting more than they reducing....
The Company took steps to meet the challenges presented by the increasing headwinds in H1 through a significant restructuring exercise, reducing various costs including a 38% reduction in headcount.
And they have a little cash in hand but need those orders to keep coming. Finely balanced imo, will be interesting to see how the market reacts?
Company's order book as at 31 March 2024 was approximately £0.75m, representing approximately 65% of the total FY2024 unaudited revenues.
When you miss the move up I will laugh dr. You are here watching and going to miss the chance, even if you don’t like the company it is daft to miss the opp
Oh dear, the resident crew are pumping for their lives. The SP is where its at because the company have next to no revenue, delayed contracts, directors being paid in shares, extreme cost cutting and continued fundraising. The SP IMO will drop further and further, been saying it since 10P....
February brokers note predicting 1.115m revenue for this year will be interesting to see if they’ve managed to close other stuff off in past weeks of the year. They’ve certainly done a good job banking contracts to materialise in 24/25 so should see a boost there!
Me too! Crazy price too good not to
At 3.54 (50k)
Nuts price haha
Nothing slipped, should an update this week.
All this big transaction going through as sales only worth £0 .97p
Hi chrishutch,
Company could do with a big week, that's for sure.
"A update early next week, possible contract news, too." was your comment late last week, I'm guessing things have slipped a little & your looking more towards the end of the week now instead ?
GLA
LOTM
Hopefully, we will see some news this week, 🤓
Definitely something brewing..lol