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Sure, cheers. That’s not new news but maybe they can crystallise this value. BRSD is silly cheap even without factoring this stake in
BrandShield holds 508,508 shares in WeShop Limited. This represents around 10.5% of the currently issued share capital in WeShop Limited. Should a £9m convertible loan note in WeShop Limited convert then the Company’s holding would reduce to around 5.3%. WeShop Holdings Limited is currently trading on the JP Jenkins matched bargain trading platform with most recent trades being at £3.50 per share. Taking this share price then the Net Asset Value of WeShop Limited would be £116m and the potential NAV per share would be £24.05 for currently issued shares or £12.09 for shares issued following conversion of the CLNs. The value of BrandShield’s holding could be derived at £12.2m or £6.2m respectively in those scenarios, however the Board does not believe that it is prudent to attach such a valuation at this stage given the relatively small trading volume of WeShop Holdings on JP Jenkins, the fact that the WeShop main marketing effort has not been fully launched yet and the fact that there are likely to be some taxation liabilities and administrative costs associated with WeShop Limited which will be deducted from any shares issued to underlying shareholders in specie. The lock in period to May 2023 would also require a discount to be applied to any derived valuation. As such the Board has continued to hold the value of the investment in WeShop Limited at cost, that being $4,112,107.
What’s happening at WeShop?
Some big trades, could be connected to WeShop?
This has been an expensive disappointing share!
Are we expecting another placing in May? Seems to happen on a fairly regular basis. Thoughts welcome.
I know what you mean but the only thing to do is averaging down and took them away and forget rhem
Yeah…..if you are in the 90% loss club you know how painfully cheap it is….car crash!
This is one cheap share
Only 170m shares in issue. This could easily move quickly
It appears 90% of these sells are actually buys.
Yes, I just bought another 10k worth x
Yes , I anticipate that, problem I find unsettling is buys actually being registered as sales.
I don't mind it staying at this level next week for I will be able to increase my hold :)
The thing with these types of companies they will suddenly bounce off nothing. The key is to hold for some time.
I would to state, I think lse not recording the data correctly.
There was a earlier sell at 11k approximately 5.49
I just bought in at 15.12 at the same price, at same amount.
So all sells could be all buys
Karl
I’m with you on this journey. This will fly at some point
Hi all, I bought in today and my buy is showing a sell .........I believe the majority are actually buys
I am a shareholder and I only just saw this.
No one knows we are here!
Great growth
https://mobile.twitter.com/ZaksTradersCafe/status/1630539723792953344?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet
I think Brandshield will come good. This is definitely worth more than current price
You would expect this share to gain more attention after today
if the rate of client wins continues it wouldn't be improbable for a larger cyber operator to acquire BRSD and integrate their offering within a bigger suite of products. industry M&A tends to be 4-5 SAAS so we're talking 15-30p (assuming progress and contract wins continues)
good to see revenues significantly increase, albeit from a low base.
For me the cashburn is key.
In H1 2022 there was c$2.2m cash after burning c$2.4m in the 6 months.
Now, 6 month later, we have $2.6m but raised c$2m in the period.
So cashburn in last 6 months is reduced to c$1.5m. A big improvement but still too high.
With more staff being taken on the cost base is only going one way.
It will be interesting to see the cash figure on 30/6/23. Anything above $2m would be fantastic, c$1.5m would be ok, less than $1m would spell trouble IMHO.
Financial Highlights
· Annual Recurring Revenue2 ("ARR") up over 60% to $8.42 million1 (FY21: $5.22 million)
· 53% increase in new business and upsells to $3.87 million1 (FY21: $2.53 million)
· Stable upward revenue trajectory; 55% increase in revenue to c.$ 6.39 million (FY21: $4.13 million)
· Increase in net dollar retention of 104.6% (FY21: 96.4%)
· Cash of $2.6 million1 at period end
Operational Highlights
· Increased client numbers to 183, up 41% from FY21
· Hired 17 new employees reaching 70 employees (FTE total: 65.74) at the end of 2022
· Named business consultancy group Frost & Sullivan's third best Digital Risk Protection ('DRP') service provider in 2022 review
· Launched NFT ShieldTM in October 2022, a bespoke AI solution aimed at the NFT economy
· BrandShield in robust position to deliver long-term growth
ita a total mess, just cuz leahy put money here means nothing like i said before, its just loose change for guys like that. and as ive said before ive worked in the City and ive seen guys like get $23mill in bonusses just for 1 year so like i say its just looose change for them. not going to argue with people about this, ive seen it all for myself. if you dont believe me your very naiive.
i have to say i've lost faith in BRSD and have sold the majority of my holding at a large loss. For me the big red flag in the last accounts was a marketing spend increase larger than the increase in revenue. This is madness.
I had high hopes for WeShop, especially as the book value of c$4m looks quite conservative. However, it seems quite a complicated process if they want to materialise its value. The updates regarding this are few and far between so that's the only info i have to go on. Hopefully we will suddenly find out it's been sold for maybe £5m, however, i'm not holding my breath.
Regarding costs i have many concerns. Considering this is essentially a family business the BOD is massively overpaid and they are loads of warrants and options too. Another red flag. No cost saving measures seem to have ever been implemented.
The 2 most recent RNSs are essentially PR with no info re current trading etc. Another concern IMHO.
Hopefully this will come good one day, the tech is good and i think when signed up customers are quite loyal, however, the cost of acquiring them is the big issue here.
@shandypants2 - what do you make of the level of director remuneration with respect to level of cash burn and share price performance?
From 2021 report (assuming I have read this correctly):
Total Director Fees $859,303 (20.8%)
Yoav + Yuval (CEO, CTO) Total Fees $627,124
Surely large shareholders like Leahy/Currie would have an opinion on this ?
And what do you think the prospects are of Brandshield being able to offload their stake in WeShop in the forseeable future at something resembling its carrying value in the accounts ? I think the Weshop deal/acquisition at the back-end of 2021 had an 18-month lock-in for existing shareholders which theoretically means Brandshield could look to offload in 2023.