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Let's consider the explosive nature of the 2017 growth here, which is better than I had been expecting, but which people seem to have been missing - 28/06/2017 07:01 UKREG Big Sofa Technologies Group PLC Final Results "... Revenues grew to GBP757,000 in 2016, with average monthly revenue approximately double that in 2015 ... Strong start to 2017, with revenues in June more than three times greater than January ... We have made significant operational and financial progress in the first half of the year, growing a substantial new business pipeline from just c.GBP100,000 at the outset of the year to over GBP1.35 million today ... of the proposals decided upon so far this year, Big Sofa has converted 54% by value ..." https://uk.advfn.com/stock-market/london/big-sofa-tech-BST/share-news/Big-Sofa-Technologies-Group-PLC-Final-Results/75126028 I.e. Revenues up over 200% in five months, an annualised increase of over 1,000%! And order book up about thirteen-fold in five months, an annualised increase of over 20,000%!! In 2016, turnover was about seven times the year end order book. If a similar ratio applies this year, we should therefore expect multi-million pound turnover in 2017. The order book clearly has a quite rapid turnover, as you would expect with this type of business, but which some people may not appreciate and which is therefore fooling them. Moreover, the conversion rate of over 50% is stunning: not only is it a very strong validation of BST's offering, but also bodes very well for further strong revenue growth. Now let's consider the operating loss and cash position: 28/06/2017 07:01 UKREG Big Sofa Technologies Group PLC Final Results " ...Operating expenses include GBP785,000 of AIM listing costs and GBP705,000 of deemed reverse acquisition costs, both of which are non-recurring. ... The balance sheet at the end of 2016 remained strong with cash of GBP2.5 million ... Operating loss (4,297) ..." https://uk.advfn.com/stock-market/london/big-sofa-tech-BST/share-news/Big-Sofa-Technologies-Group-PLC-Final-Results/75126028 I.e. the 2016 operating loss excluding non-recurring costs was £2.8M., only slightly higher than the year end cash position. The speed with which revenues are growing means that there may well not be an urgent need to raise more equity funds before the company is at or near profitability, especially as it could prefer debt if necessary. But of course it may choose to do undertake a placing, e.g. if it dual-lists in America as is the claimed intention. And if it does, the sort of explosive growth being achieved should mean that funds should be available at a very healthy share price.
Hedgehog In plain English They haven't paid new world back then