Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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Brandshield
Brandshield Systems PLC leapt a penny (12% sounds a bit more “leapy” – Ed.) to 9.25p after Sir Terence Leahy revealed he had built a 6.96%s stake in the company.
Leahy is the former chief executive of Tesco PLC (LSE:TSCO) who currently has a gig at now privately-owned Morrisons.
Also revealed today was an increase in the stake of William Currie Investments to 10.8% from 7.0%. Both increased shareholdings came about as a result of the company’s share subscription, announced earlier this week, which raised £1.0mln for the cybersecurity firm.
yes very positive - although if 10% of shares have been purchased who has sold? Clearly can't be acquired in the market as the price has barely moved and the reported trading volumes have been minimal
https://www.infosecurity-magazine.com/news/general-motors-hit-by-cyber-attack/
US automobile manufacturer General Motors (GM) announced that it was hit by a credential stuffing attack last month that exposed customer information and allowed hackers to redeem rewards points for gift cards.
GM said that they detected the malicious login activity between April 11-29 2022.
"We are writing to follow-up on our [DATE] email to you, advising you of a data incident involving the identification of recent redemption of your reward points that appears to be without your authorization," GM said in a data breach notification sent to affected customers.
A credential stuffing attack is a cyber-attack in which credentials obtained from a previous data breach on one service are used to attempt to log in to another unrelated service.
Coffee.
This has been on my watch list for sometime, was hoping to top slice from gains elsewhere but unfortunately b##### all gains elsewhere. Was hoping it would be CNS (my only traditional cyber holding apart from Herald it) after storming results but flat.
As you say cyber attacks orchestrated by state actors. About ten years ago I worked for a company with a cyber arm, the sophistication of a state actor to use their software to gain access to the defence industry to get IP was frightening.
My son works in licencing trademarks - so much assets/ money that needs protecting. Hopefully will add soon.
Good luck to all holders - I think a buy at current prices is a great long term entry point.
reckon next week we could see some news regarding Tesco using BRAND SHEILD.
IT WILL BE MEGA CONTRACT!!
JOIN THE DOTS.... EX TESCO CEO BUYS £1m worth of shares with his personal money and added 10% using his investment company total 17%
what a clever move.
don't ignore this news, it's huge!!!!
someone like him doesn't invest unless he knows of future prospects right!
#BRSD Mr mkt has totally ignored this cyber security co. Now Sir Terrance Leahy taken 6.95% stake & William Currie over 10%. Last Dec reported over $5m annual RECURRING rev. Probably more secured since then & yet Mkt Cap is only £10m!..Provides a crucial service for big brands.
If you go to their website it shows you they also protect against executive impersonation, protect emails, servers etc etc ..
All of the things that Tesco got fined for and publicly said they are still worried about ..
This Is Going postal !
Skid,
1. It was initially developed as an IP protection system, it has been improved and expanded upon.
2. There are going to be problems in the food chain, Russia will be doing everything it can to take down on line retailers to cause disruption and get their embargoes and blacklists overturned.
Perfect storm for BRSD - I'd load up here.
BRSD (the size of threat is enormous, £2.4Billion)!!!!
How much Tesco would spend on Brandshield to Stop These online attacks?
I would say £100M+ per year
*The growing threat hackers pose to businesses has led Tesco to conduct a cyberattack stress test for the first time, which found that a breach could cost it up to £2.4 billion in fines.
Under a risk analysis detailed in its latest annual report, Tesco modelled various scenarios for a cyberattack where customer data was compromised"
Tesco holds a wealth of customer data due to its 20 million Clubcard members, so risks large fines if compromised
Tesco holds a wealth of customer data due to its 20 million Clubcard members, so risks large fines if compromised
that's huge RNS'S today!!!
Customer numbers have grown from around 70 to over 140 and ARR has increased from $2.87m to around $6m at the time of this announcement." The starting point is their admission to trading on AIM in Dec20.
-YE21 customers: 130, up 77 from YE20, +69% customer growth, c6.4 net new customer per month.
-YE21 ARR: $5.22m, up $1.94m from YE20, +59% ARR growth, c$164k net ARR increase per month.
Those YE21 figures from the "Proposed Placing to raise £1.5m; Trading Update" RNS on 28 January 2022.
Iteration.
Brandshield does not protect from cyber attacks in anyway shape or form, zero to do with the Tesco issue.
It is an IP / reputation protection platform.
Is it good news Leahy is taking a position, absolutely.
Sir Terry Leahy buys 7% ..
William Currie Investments increases to 10%
Sir Terry is a main board member of William Currie Investments. ..
https://williamcurriegroup.com/about/
They have taken 17% .....
VERY interesting.
Tesco highlights a weakenss in their cyber security after conducting a stress test
Ex Tesco CEO buys a shedload of stock in a cyber protection company
...................
Tesco fears £2.4bn hit from future cyberattack | Business - The ...https://www.thetimes.co.uk › article › tesco-fears-2-4bn-hi...
14 May 2022 — The growing threat hackers pose to businesses has led Tesco to conduct a cyberattack stress test for the first time, which found that a ...
new TR1 holder?!
Sir Terry takes a massive stake!!!!!!!!
Feels like it's all centred around the value proposition of brandshield 3.0. If they keep improving the platform and new and existing customers see value, then a takeover might be on the cards. A 50% premium on the current SP would be peanuts for a buyer of proven technology. You could envisage a large cybersecurity company seeing this as a potential cheap bolt on to their current service offering.
In today's RNS my attention was also drawn to the following under vesting conditions: "2 years vesting in monthly instalments plus acceleration in the event of the change of control of the Company". Now why would mention be made of this particular instance, I haven't seen this before in previous option/incentive RNS's : "plus acceleration in the event of the change of control of the Company" ? Is this foreshadowing ? I don't see this as a positive for shareholders who got in post AIM listing if this were to come about in the short to mid term at the current levels of share price.
So there is some information in today's grant of options RNS where you can make some estimates of 2022 YTD progress - see statement "Customer numbers have grown from around 70 to over 140 and ARR has increased from $2.87m to around $6m at the time of this announcement." The starting point is their admission to trading on AIM in Dec20.
-YE21 customers: 130, up 77 from YE20, +69% customer growth, c6.4 net new customer per month.
-YE21 ARR: $5.22m, up $1.94m from YE20, +59% ARR growth, c$164k net ARR increase per month.
Those YE21 figures from the "Proposed Placing to raise £1.5m; Trading Update" RNS on 28 January 2022.
Using numbers from todays announcement and supposing an end May position (we are close to month end) to estimate:
-May22 customers: >140 customers, lets assume 145 customers the midpoint of 140-150 as if it was more than 150 then presumably they would have quoted the 150 and not 140. 2022 YTD net new customer growth vs YE21 = 145 - 130, 15 net new customers or 3 per month. That's compared to the c6.4 net new customers per month signed up over 2021.
-May22 ARR: around $6m. 2022 YTD net ARR growth vs YE21 = $6m-$5.22m, $780k net new ARR or $156k per month. That's compared to the c$164k net ARR growth per month over 2021.
So what conclusions can be drawn ? All in my opinion - significant slowdown in net new customer growth with the pace of signup reducing by 50% compared to 2021. There seems to be a struggle in bringing new clients through the door. The underlying assumption in this is retention of existing clients has remained high and subscription terminations are not distorting the estimates. Net new ARR growth in 2022 has also slowed vs 2021, but the difference is not has marked as the slowdown in net new customers. This could indicates that net new ARR growth is coming mainly from cross/upselling to existing customers.
At the Investor Meets sessions they mentioned that Q4 has traditionally been a good/busier quarter for sales, but I could not see any evidence of any significant sales bump over Q4 2021 so I would not be convinced we would expect to see some significant increased activity over Q4 2022. The fund raise is intended to help capitalise on what they believe is a significant market opportunity. So based on the 2022 YTD numbers, would you not question this statement on whether they are successfully capitalising on this opportunity, or whether there is indeed a significant market opportunity ?
Shame that the share price has more than halved. Options at 10p would have indicated expected growth and been a more positive outlook rather than offering them at market price. Hopefully they see this as the bottom.
From today's RNS: "Customer numbers have grown from around 70 to over 140 and ARR has increased from $2.87m to around $6m at the time of this announcement. "