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Having been invested in 7dig for a long time, they have never been profitable, so they cannot be aiming to return there. However they are about to become profitable for the 1st time in H2 this year. This should then be transformational for them, especially given the potential growth from Triller and other new contract partners.
DYOR
Ian
Yep. I keep thinking back to thst day and thinking this is exciting but bit by bit has Shrunk to where we are now. But I’m sticking with it. Not slicing until 10p
Didn’t we hit around 4p not so long ago?
I also feel for those that bought in late August around 3.3
We collapsed 49% in a month
I've sold majority after that drop but will hold a few to see where we go
They've decided to file the financials for 2019 right on the deadline
So I will need to see whether there was an improvement on the insolvent position
I feel for those guys who bought in at 2.25p . I think there are more twists and turns to come
No one knows where the SP will be , otherwise we would all be millionaires.
The results were good today, but we need to win some more big contracts. All in all I think they will do well. It’s a definite hold for me
Not sure whether to buy more on any dips. Been in her since July 2019 @ 0.26
Over the next couple of months we will probably see low 1's
Hopefully, growth will be attempted after summer 2021 due to destructive impact of Covid and the world finding some kind of vaccine or treatment
If it ever got to that price (1p)then I will be adding significantly. Fiandp88 too many people make decisions repeating the same set of conditions. The outcomes are always the same, the behavioural patterns always the same, the end game is blamed on others. "1p I think" is in YOUR head cashers, and "I can't see solvency till summer 20212 is AGAIN in YOUR head cashers. Its safer there while some of us are not swayed by irrational fear.
I think the BOD's have accepted this will head towards the lower 1p range.
The overhead reductions signals they have accepted a halt to growth near term. Their main aim is restore the Company to a solvent position once again. With the current financial climate, I can't see that happening before summer 2021
Fiandp88
It could not have been put any better. Its been a long wait to find a potential decent investment and there are a few out there if one looks. I actually want this not to go up and I wanted to add! and yet sadly I will not get cash across quick enough to do that, but will add no matter on the way up to a certain cut off point. Results today cleared a lot of legacy issues out and I am certainly with you that once this selling is done the price will shift pretty quick into a new range. People have to understand that when you have gone through the pain 7dig have then to win new business you will need to be a bit compromising on new contracts to gain the confidence and build a book. Margins initially may not be excellent but its about building the name and interest. I observed another company last year doing exactly this and was written off by many but spiked 12 times higher cleaned out a disastrous debt position and is now on the road to profit. I missed it because a lot of cash is locked in three RTOs but not going to make the same mistake with 7dig. People can sell if they want and wish you all the best but sticking around for a while yet.
Totally agree 88, The company is run how the BOD want it run, not how "get rich quick" shareholders want it run!! It"s a long term project, so you"ll all (most) will have to be patient!!
Like I said, I will need to look at the latest financial statements to determine the new financial position as well as the liabilities, short term and long.
But to me, we need far more than a £1m credit facility for growth as the current cashflow (esp. from placing) will only cover the insolvency from 2018 year end
One contract, whether it's what most would consider a global tech company or the literal meaning of global tech company, does not matter. Single contracts are not worth much on their own.
We need a constant growing stream of contracts because this business model does not make much from just the one. Not saying it's a bad business model but it requires concentration on growth to revenues far in excess of £6mil.
People seem to think business costs are not somehow related to bringing in turnover, they are commonly directly proportional.
The market reaction to today's 3 RNS' says it all
We were dropping prior to them (post placing as well) and on release we drop again
There has been no name to the global partner speculation
Would not be surprised if it's just an insignificant contract
I fear the £6m (over subscribed) placing was just to cover the £6m of insolvency on the financial position (2018)
For a tech company the timing seems wrong to change from focussing on growth to aim for break-even or small profits when contracts such as Triller can only bring in circa £180k over its term. Of course this is a ball park figure but even if it's 200% out it's not much difference when we're talking about one of the top customers for a £47m market cap company.
Businesses producing £1million profit a year with competitors, view to some expansion and little downside are available for £12mil to buy and own 100%.
We need to focus on growth and bringing in an abundance of contracts, not trying to be some standard off-the-shelf small profit making business.
Apex rides is just another contract win. Nobody is expecting it to become Peloton, but it's another interesting contract win with potential and a taster of the home fitness opportunities the company might have.
The accounts show decreased revenue and margins. So it's only natural that overheads should be cut due to the reduced turnover.
Can anyone see Apex Rides muscling in on Peloton territory? I personally can't
It will interesting to see how the next set of figures improve on the insolvent financial position at 31 Dec 2018. The Company also struggled with liquidity on the short term.
Are we heading back to the lower side of 1p?
Lol what planet are you on?! 7DIG will be profitable in H2 2020...this means it will need to generate an additional £1m gross profit in the 6 month period meaning additional revenue of c£1.5m at GP of 66% & that’s just to break even!
Based on TikTok Music fees, Triller with 50 million active monthly users would roughly generate £10k a month for 7dig if we're lucky. Over 18 months that's £180k leaving £120k gross profit.
If we're now looking to become a profitable company that moves us away from the growth stock category, which is quite worrying in terms of a market cap of £47mil with only £6mil a year revenue
Well if they can turn it from a 5.6m 2019 loss to breakeven or a small profit for 2020 then it is heading in the right direction I believe. I do not think we will know what we earn from the individual contracts, but as Darkhorseusurer says Triller is growing so hopefully so does our revenue, Apex is a start up so hopefully that will grow as well. I must admit I had not seen any reference to Shopify before but may have missed it.
If my maths are correct I would like to know what we have spent 1.7m on in September, gearing up for the Global Tech Co deal maybe !!
With the Tiktok situation, Triller growing and potential stricter lock downs music and app usage wont fall
I am in this big time for me and down big time at the moment, but Paul gives me confidence and when the Global Tech Co is eventually announced hopefully it will put a dent in my losses - fingers crossed