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Aim listed companies may not divulge information to institutional investors that is not made available to the public at the same time. So unless the numbers were published to all at the time, institutional investors invested blind based on the same hype that we invested on.
Maxim, ShareHunter, you are suggesting that highly trained (hmm) institutional investors did not ask for a current revenue projection before taking up the raise offer? I find that difficult to believe, as there were a number involved, but I can accept them throwing their money in on the basis of future potential - for that they would certainly have had to have done due diligence to convince their management team...
Going to keep my toes in with what I have left )
Ironhide , I thought exactly the same thing. Well done
And another new poster , that's 3 in one morning . Looks like things are on the up then . Why now , just arrived to be negative
I think you are spot on. I would go even further and suggest it could be blatant market manipulation. I think they should be investigated by AIM. In my opinion, it looks like they delayed reporting their poor numbers by 3 months, so they could over hype a few small, vague deals and then sucker a few institutional investors to cough up funds without having to give them the true picture. All the while, they knew they were about to release poor results - falling revenue (even in the streaming part of their business) and only £ 1.2 million in trade receivables whilst owing £ 8.1 million In trade payables. Even with the fundraise, this is not a financially secure company. This makes me angry and I would like to see them investigated.
I can picture Paul (@%#@#@#) sitting in his chair saying that to his family (cause he got no pals)
In my opinion this was your standard pump up the share price to do a capital raise. Lots of news, punters push the price up, raise capital @ 23.7% discount to the punters price. Then release poor results & watch the stock drop with no more news.
Why do I think that? First check out the charts. Second, none of the news announcements had any financial data or real info anyone could put a value on. Third, the financials (when finally released) were really bad. (Revenue in H1 the worst it's been for years. You can't grow a business by cutting the guts out of it. You also can't change the tech platform without investment.) Hopefully they can survive on 5m ... because the insto investors won't fall for this again with 7Dig. IMHO - MYOB!