Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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You could also simply listen to the videos Rita has put out. She clearly states they have reduced costs significantly. Also if you look at LinkedIn you will see the the employee count has dropped by about 20 staff from its peak last October. Mode are ahead of the industry in terms of cut backs because of the RNS confusion last year relating to the affiliates.
JH you need to stop trying to deramp. It’s monthly cash burn will have lessened obviously now the business is built, the App is done and earning revenues increasing month on month. You’re referring to what has been - the money was well spent and they retain reasonable cash in bank as they go on adding revenue. Perhaps you need to read some books on how to start a business and how to run one as you seem to not have a clue. This was a complicated start which they’ve successfully achieved in a very small amount of time - using figures and looking back over is not key now - we have now funnily enough started up, we are up and running with first mover advantage and earning cash.
IMHO DYOR GLA BUYTHEDIP
Mode have reduced there massive cash burn
Mode needs to reduce its massive monthly cash burn.
Chart looking good for a strong bounce here. No reason for the drop. Irony is if Mr market ratchets up the Ask they’ll find huge volume. Been a great opportunity to buy so low but people cottoning on to just what we have built and quite frankly it’s insane to be trading this low. Small free float remaining remember so collect whilst you can as this is ready to flip.
IMHO DYOR GLA BUYTHEDIP
Sorry THG, I did not mean it that way. All good!!
Wow. Some people are getting tetchy! Apologies if I gave an alternative view that reflects the state of the SP and doesn't support your narrative. I mean the SP is this low for a reason and it's not because of 'silly sellers' and the MMs conspiracy theory.... Have a good weekend all.
That’s ok then, let’s not worry about the current share price ?????
I really don’t understand why people are posting Modes expenses are going to be inline with the last financial year at £9m. Don’t get me wrong Mode did over spend on a few things which I’m sure they have learnt from. Modes current app is separately built for iOS and android. This has meant they have been basically working on 3 apps through last year. The new app is a dual platform, so going forward you will not require the same amount of engineers working on the app. Mode also payed for the THG integration which is now complete. We also had all the compliance to deal with in order to get the licenses from the fca (now complete.). We had the listing in the US which is now complete. The marketing team has been halved and hopefully no more silly US influencers. Mode made significant cutbacks before any other crypto company due to the RNS in October so they are ahead of the game in that sense. If you are expecting block buster revenues from the get go then you really are a bit delusional. Mode need to get the app out and ready for the next crypto run then we will be in a great position to build.
THG - it’s beginning of July - the start up costs on an App were spent on getting the integral tech platform and App developed and sorted we now have leapt forward to collect multi revenue from different streams increasing with increased users and brands month on month - what is the point in posting something negatively presented spin - our revenues will OBVIOUSLY have increased together with spend down. Have you ever run a business or started a company. Geez
IMHO DYOR GLA BUYTHEDIP
For what its worth I hope you are right as this needs a boost but anything near the losses of 2021 will be trouble. Fingers crossed the results in October are good.
It is nothing to shout about, the revenue forecasted for the year was over there £5m mark. So £2m by month 6 is good, but its not forecast breaking. However, considering costs have dramatically decreased and users are still increasing month on month whilst having their best ever BTC trading month (the biggest source of revenue) last month. I would say that is a very good indication. Do not forget that for 2 whole months in 2021, they did not take in BTC trading fees which is the main source of revenue.
We will find out in unaudited results in October. I am very confident.
Interims are out in October I believe.
Rita also mentioned in March that February was there best month to date. I also regularly see Mode in the top 200 download charts but I have not seen Ziglu once in the top two hundred. To me this shows the increase in user numbers in recent months.
Ah okay so there is no factual evidence of this £2m for H1? I guess we will find out soon enough because if they have done anywhere near this figure MODE should be shouting from the rooftops that they have done 150% of 2021 revenue in H1.
My support for that would be the app during 2021 had very low user volume until it ramped up advertising and marketing with the campaign in December for 0 fees. This mean sacrificed revenue but boosted user numbers to record level of downloads each day! Since then, each month has beaten the previous month with downloads and user retention which is all thanks to the growing list of affiliates and the regular advertisements on social media as a safe place to buy and sell BTC.
We can safely assume then that revenues are around the £2m by half time (which is lower than forecasted to be cautious).
Thanks but I am not seeing anything to support a claim of £2m for H1? I think this is important due to what PatG put in here the other day. We know the cash burn is high here but IF the revenue will triple from last year then that would be encouraging and would limit the burn and fear of another raise for the shorter term future.
Jonathan Rowland, the chair of Mode, was pleased by the results.
“The focus in 2021 was on product development and growth. The delivery of these ambitious growth plans did see operating costs increase in 2021. A combination of hiring more talent and costs associated with advertising and the listing saw these go up as we anticipated they would,” Rowland said.
“However, the revenue increases we are reporting are a clear indicator that our proposition is a compelling one. In addition, our successful oversubscribed convertible loan also shows that despite recent market volatility in crypto and tech, Mode continues to attract strong interest from the investor community. Mode is uniquely positioned to lead the next wave of crypto adoption and evolution and as a business, we are primed for fast future growth in 2022 and beyond," he added.
An increase in revenue in 2021 to £1.31mln from £450,000 in 2020 was accompanied by an increase in administrative costs to £5.86mln due to higher people costs of £4.16mln and share option expenses of £743,000. Advertising spend rose to £1.39mln from £188,000 in 2020.
“2021 was a big year for Mode. Our aim was to grow our user base and give them the products they want. Put simply, we achieved what we set out to do,” said Rita Liu, the chief executive officer of Mode.
Can anyone point me in the direction where i could find something to support the claim of £2m revenue for H1. This will definitely be worth a punt should this figure be true
There is practically nothing wrong with the app. The odd minor issue but in terms of how it functions that is absolutely fine. Most of the negative comments on Google play are people complaining about withdrawing the free £10 or not understanding that you need to hand over some personal info in order to have the app, that's what you get with an FCA regulated company.
Of course I’ve used it - superb I’ve found it and those I know who have also downloaded - see previous post. It may be that you yourself lol have the issues…
Can still sell my entire holding here for more than I can buy it - 5.057 v 4.997 - Mr Market wants your stock
IMHO DYOR GLA BUYTHEDIP
According to PatG the revenue he estimated for H1 was £2m which would mean they would have done more 150% the revenue of the whole 2021 in H1 2022. I haven't looked into this enough but if that is true then that's a decent turnaround but also wouldn't make sense why the SP is 5p
JB - the MODE app feedback is excellent - on various platforms running between 4-5 stars in ratings. Again posting random derogatory statements with zero to back it up. A spreadbetter wannabe wise boy - you’d make more money if you simply stopped posting fud and bought some here.
broker note issued for £1.20 - eve if we do half of that then this from today’s SP is more than a 10 bagger.
IMHO DYOR GLA BUYTHEDIP
Guys if you don’t like the company then fair enough. No point hanging around this board waiting for the next post to come in.