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Ye not great. I sold out at a substantial loss here. Maybe they’ll release good news in the coming weeks but too risky for me now. Fundraise is inevitable. Annoying they couldn’t get one of these deals done sooner as that was what I was hoping for.
Unfortunately today's RNS essentially says they will run out of cash in the next few months, despite the CEOs positivity.
See excerpt below..
Consequentially, the Company expects to report revenues for the year ending 30 April 2024 in the range of approximately £2.8m-£3.0m, with a corresponding adj. EBITDA loss of between approximately £2.6m-£2.8m. Cash and cash equivalents as at 29 February 2024 were approximately £800k. The Board continues to closely monitor cash to ensure that the Company has sufficient resources to execute its growth strategy. Cash burn and customer acquisition cost are expected to reduce as the Company converts its pipeline in the coming weeks and the Company is seeking to improve contract payment terms to include upfront payments.
Been buying here. Interims weren’t that impressive tbh and cash burn gone up. However ceo said this,
“we have now established the foundations for us to accelerate growth. We are currently in discussions with substantial partners regarding some significant opportunities, which reflect the recognised strength of our offer and are testament to our renewed go-to-market approach. We are also very excited by the innovative work that we are doing with generative AI - which is being undertaken alongside our customers to ensure our product is designed to meet their exact requirements. As a result, we continue to look to the future with confidence and look forward to updating the market on our progress“
Im banking on there being some near term newsflow being the catalyst for a good rise and it’s worth the risk at this price imo.
Just checked the Bid here they are gagging
Unfortunately cant buy!!
Wonder why?
Any chance of recovery?
whats the cash balance??
Just announced
fallen too far this
Down 23% to 14.5p today .
The recent placing at 0.5p must be equal to 25p.
Only about one month ago.
Down 23% to 14.5p today.
looks like a falling knife lucky miss here.
Had an order on for 20p on 28th one week ago , reduced from 21p days before.
Enough is enough - time for the CEO to go.
Hope Kubrick hasn't bought too many Bentleys
My experience with badly managed companies that pull this trick is that now the SP has a whole lot further to fall!
Consequently, the 2000 (was 100k) sale this morning was me throwing the towel in with this crap.
Good luck to all.
New Consolidated Ordinary Shares at a conversion ratio of 50:1 , Today up 5,547.06% adjustment.
Its not 50000% up mate lol
I genuinely hope you held onto them. This is phenomenal.
I just bought some of these at 0.47 mark. The company was mentioned to me recently off topic while we were discuss MS BI applications. Taking a quick look at what they do and understanding the value in the platform they have produced, it seems like a company that just lost direction a little bit. Should not take too much to get it back on track and build recurring revenue. High risk but the upside potential seems worth it.
https://twitter.com/MKKhan95122509/status/1633981159536316416?t=-_-fYEYzmQmU6XLHj4tSSg&s=19
Things seem to be stirring up at RDT with a chunk of activity today. Large trades of 3,000,000 plus others showing as sells but more likely buys. Interesting.
If the senior management had a grain of confidence in their actions they would be hoovering this stock up. We were all lulled into believing the emperor had clothes on when indeed he was completely naked.
The lunatics have taken over the asylum – comes to mind. What an extraordinary disappointment. They are back to where they were in 2015, focusing on the space the company was founded on. Yet there are 3 times more shares, less cash and is losing more money. How this Board of Directors can survive beggars belief.
I find the continued delay of the results worrying. It is not how a board should behave and the advisors need to get a grip. I checked the AIM rules and they clearly state that results are to be posted within 6 months of the end of the year. They have an April year-end and it's Friday 28th October. So they are leaving it to the last day - Monday 31st Oct. I shall reframe from writing more as I am beginning to fume....
No problem, but I do wonder how good or of value it was?.
Remember, they only paid 47K for it and although a revenue contributor and would have appeared to be in the right space, they did flag that it had to go!
I'm no apologist for the management, but I don't mind playing devils advocate!
Sorry - I stupidly didn't see that! Incredibly low price for an established SaaS business in a growing market. So frustrating. Thanks so much for highlighting that.
Regarding the sale of Langdon, it was clear who bought it, "The Company has sold the IP, software, assets, client list and contracts associated with Langdon to Langdon Customs and Excise Solutions Ltd, a provider of duty management systems"
It will be interesting to see how much cash is left, as the Broker note from summer forecast £2.4m!
I'd bet it is less than that though, when the results are released.
Agree, the issue is there is no good news.
Sale of Langdon for 100k after is contributed over 800k to the company's revenue numbers.
Slow sale of the second business, obviously DD issues.
Revenues falling like a stone, ARR dropping along with it and nearly out of cash.
No wonder they will delay any numbers as long as they can, anyone masterminding this managerial s**t show would.