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Stephen Kelly is on record last year as stating Cirata will attain world leader status within 4 years. He stuck his head above the parapet by doing so and he will be judged as having failed should he miss - wise not to promise to deliver such a mammoth undertaking unless you are very sure of success. The market is very unforgiving and it doesn’t reward ‘ steady as she goes’ or ‘growth/ revenue is on target’ , let alone failing to deliver. He also admitted in the last update that new business was much slower to secure than anticipated and their new ‘go to market’ strategy has not delivered the uptick in sales and revenue that was expected.
Trust needs to be rebuilt but in the meantime, other companies are coming along, without the baggage or stigma and are attracting customers that Cirata relies on to grow.
It’s very much a hold and re- appraise on a quarterly basis share in my portfolio. I hope he can do it -
Yes i agree, but those of us who bought after the suspension, knew exactly what we were getting into ,so i wouldn’t quite describe it as alarming.. I’m taking more interest in this share as similarly it is weighing me down. I agree there needs to be a cull and it needs to happen sharpish for the outgoings to balance out, but nothing else comes as much of a surprise. I believe that the mammoth task taken on was underestimated, mainly due to wider issues aswell, but certainly not out of reach! so as long as we are continually informed of the progress I do not have a problem with that and it will be interesting to see how they continue to claw out of this hole.
sinitta - “ just before the shares were suspended the shares were flying, which indicates this must be a desirable product, regardless of irregularities “
it was only a desire able product based on the supposed volume of sales which turned out to be grossly and i mean eyewateringly exaggerated. if it was such a desirable product, the true volume of sales would have attested to that.
i’m a holder here and must admit that i find the current state of play alarming. i’m not a holder from pre- suspension so am only just underwater. i’m struggling to see how the bod - which i believe to be top heavy as do other posters - are effecting the turnaround when there is no acceleration on sign ups or high value contracts. by their own admission, the company admit to being behind schedule on delivery.
as for a buy out - there doesn’t seem to be a lot for a third party to actually buy ! what would they be getting for their money?
and before anyone dashes out to slap a troll label on this post, like all holders here i genuinely hope the bod can light a fire under the sp ….. the cash burn cannot be dismissed as inconsequential when the incomings are so sp****.
the next update cannot be like the previous one - there must be something tangible on offer to shareholders moving forwards.
Yes In all honesty I hope i am right too…I’m in the red too now( although not as much as others from wandisco days) and it is a little frustrating seeing other places I have invested doing great and this one not so,so a lot of what ifs! But I’m willing to wait this one out and I do believe we will be rewarded..so 🤞🤞
As I said I hope you're right and I'm wrong. What suprises me, and this has nothing to do with Stephen Kelly, is that they're been around for quite some time and always overpromised big time. There was a times article listing these announcements. Let's hope for the best.
Also ,just before the shares were suspended,the shares were flying,which indicates that this must a desirable product,regardless of the irregularities,there was still interest..( obviously not quite as much much as thought) but I believe it’s just a case of building back up that trust again..I’m sure if anyone can do it,it will be Mr Kelly,he’s been pretty transparent so far so going in the right direction albeit slowly.
Sorry I meant not 22 lol
So the irregularities were discovered in march / April 2023 and there was that massive drop in SP and suspension.Then Stephen Kelly took over in May 23 ( not 23) so he’s building this back up.. hopefully
No, why is everyone with a different opinion a troll these days? I'm just someone who seems to have lost quite a bit of money. I'm a software guy with more than a bit of a cloud background, so I think I understand their offerings better than most. I don't know anything about the org structure, except for what I find on Linkedin, CROs and a lot of VPs. Deals that slip from quarter to quarter are never a good sign. As I said, I'm not much of an investor, it seemed like a valid opportunity at the time, but right now I'm not too optimistic. I hope the next few months will proof me wrong. GO Cirata GO!!!!
@Hastings - you don’t know much about what happened back in March last year but you seem to suddenly have a good understanding of the finer details relating to org structure, what happened years before last March as well as specific product offering details.
it’s very clear what you are up to here… prob a burner account of one of the other main trolls…
@Sinetta As far as I understand the irregularities happened in 22, right? What happened in the 18 years before? A lot of big announcements, but basically just burning cash big time. As much as I'd like to believe their forecast for 24, I'm having my doubts. Also Hadoop migrations aren't the hottest shxx in town, not superfancy I'd say. What happened to their Microsoft partnership? Does anyone know? Their current international CRO was with the company since may 21, if that guy is any good why didn't he sniff out the irregularities? Don't get me wrong, I sincerely hope, that Kelly can do his magic and we'll all be celebrating in December, but I think Cirata is different ballgame than Sage. Keep my fingers crossed.
Yes it difficult as alot of the rise during that time was false due to the sales irregularities. However that doesn’t take away the fact that they have a good product and now with the new CEO at the helm ,hopefully the company can re built fresh. The workload is high, mainly having to re build confidence in the brand and trust with the shareholders, but once that is back in place , there is no reason why this cannot fly again. I think this year has been a difficult year to take on that challenge so definitely patience is going to pay here.. hoping that the next set of results will be putting that slippage to bed.
I'm not much of an investor, bought some stock when they we're still called Wandisco in 2022. One of my pals from AWS told me that they see a lot movement in the that space. Don't know what happened back in March, but my 15+ years experience in Software sales tells me that the whole 'next quarter, slipped deals story' is a bit fishy. I'd be more than happy to be proven wrong, but they are around for almost 20 years now and kept telling the same story over and over again...
Found 1k behind the sofa today and averaged down a tiny tiny bit (and will continue to do so in relatively small chunks). What I would give to invest again properly at these levels… ! Got to be the best opportunity out there on AIM as long as you are prepared to wait for a few quarters. Yes, there will be quicker wins out there but patience will be rewarded here big time.
Nice little rise today!
First there was Psion, then we had Blue Prism, then Darktrace, now I am awaiting the bid on CRTA.
These cutting edge technology shares always are volatile, but they are all attractive to predators, and CRTA's technology is top of class. This is just a matter of time now until a bid. As trading improves and deals get done, you will see the price rapidly - and I mean rapidly - rise. Just a question of being patient.
The company has enough cash until end of the year, that is assuming no turnover to assist it. Add in the turnover expected between now and 31st December and you get enough cash to easily see us into mid / end 2025. In other words as the company moves to free cash flow positive status, the shares must rally substantially............