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Haha , sorry £12 million
For anyone wishing for a bit of reminiscence..
https://www.proactiveinvestors.co.uk/companies/news/221041/cyanconnode-s-expansion-plans-get-indian-election-boost-221041.html
No tax credit income either. I reckon they could reach the 2020 revenue expectation that you quoted though.
Last May 19 ( just 10 months ago) Arden came out with targeats for CC of £7 million revenue end of 2019, with £ 12 expected revenue end 2020. Their was much talk of opportunities in pipeline, and tenders that CC were Involved with.....this gave a SP of 5p last May.
With none of this likely to happen this year , and inevitable more delays to smart meter deployment in most areas if the world. Today's SP looks rather expensive with no "business income" expected this year....., just loans .
Dont think he unsettled anyone and certainly not me. The info he provided was quiet specific most of the time hence my question. Seems strange he's not posted anywhere since under that name. I am though somtimes quite forensic by nature.
Yes, ~ Colour knee~jerk was made up when impy through the biggest hissy fit ever witnessed on the BBs, when you think of it knee~jerk has been at AGMs with the beast and knows who he really is so does LTI.
Knee~jerk welcomed the fact that Shaun the sheep was leading his flock over the metaphorical cliff, hope they all left Wills:))) <(0^0)>
(He knows you know)
The only one he unsettled was you, ya Dosy Clown.
Hello jake.. Don't think anything like that was ever confirmed.
However it rattle a few cages and a few bleats. 'I am the law'. LOL.
Imperial knew what he was talking about and about the industry.
That is what unsettled them.
Hi BB
"HMRC aims to deal with 95% of payable tax credit claims within 28 days of receiving the claim."
See page 42:-
http://www.hmrc.gov.uk/gds/cird/attachments/rdsimpleguide.pdf
Did anyone ever definitively confirm IL had no connection to CC other than a shareholder? He disappeared not long after I raised the question.
Hammerman
The interesting point to me is that the lender has made a judgement call that CC will be around long enough to recover the tax credit. I believe the claim cannot be made until after the year-end (31 Mar) and that it normally takes 5 to 6 months for HMRC to process. I cannot imagine HMRC paying the tax credit if CC went bust and therefore I think it reasonable to assume CC has sufficient cash to remain solvent until at least Sept.
So, they had £1m at end of Dec, received £1m from customers post YE. Yet they still needed to borrow against income that's due in 3 months (tax credit)? They're toast. There'll be no new contracts and income will dry up in the current climate, this is a company that has stated that it has difficulty getting customers to pay too.
They're running on fumes, I expect this to crash and burn this year.
Greengrass, don't know about a control freak but Imperial certainly put the willies up you and a few others.
Hope your brazenness now does not come back to bit you. You never know who is watching, LOL.
BST,can't believe you did well at Christmas when you messed up so much with early Cyan.
B.B, a loan is better than no cash at this worldwide dodgy time.
Sit tight and wait upon Indore, South India and Thailand. May be a few months due to virus but will start up.
DYOR
Noted Bull.Bear but that is against a guaranteed confirmed tax rebate I’m referring to a commercial loan from any form of financial institution looking at a viable profitable cash generative business which CC clearly isn’t. Stay safe.
Hammerman:
“In addition, to further improve its financial position, CyanConnode has secured funding [a loan] against future Research and Development Tax Credits.”
Tony
In the case of cyan, it has always been best not to have an average. Look at the chart you fool, no one has made money here holding long term. There is money to be made, and I made a good return trading at Xmas.
How much are your loses in £?
Didn't he have his team of Dweebs scouring the back posts to build his lawsuit? I guess they are all furloughed now. Shame, I was looking forward to that.
tony boloney, do you mean the control freak, you know what happened to the last one in ww11?
Hes probably hiding out in a bunker somewhere and you are trying to goad him out you sneaky little freak.
You unwittingly nailed it tonyj. Connode still have 800k connections. The revenue is feck all, that's why they found the only mug in town and got out!
Sorry jake missed that.. I think that Cyan and Connode were in a similar position, things were not moving fast enough and they had laid out a fair amount to cash. It could have been the reverse situation if Connode had held out but they had invested a lot at home installing their 800k connections on lease.
DYOR.
Well Colour it's you that are not getting it. Don't look backwards. We have been about to take off in the past SMETS2, IRAN, early India and later India. These have come along then been delayed for various reasons, in the meantime there has been ongoing costs, these have been reduced. You are trying to lay at JC's doorstep these setbacks, remember Iran when everybody was happy, we were first in then Trump re-imposes ban, nothing to do with CC, The current Virus situation comes at a time when CC has laid its foundation in Thailand and about to progress. Although I think it's OK I feel money could be put under pressure if there is a lengthy period of many months.
Greengrass,I feel you milked the situation talking SP up and down and creaming, so the less said from you probably the better. Didn't you vanish a little while ago when Mr Correctness came on the scene, not much bottle.
All, in case the others forget, DYOR it's your money.
Hi Colour my question was meant for Tony.
So Tony why do you think Commode pulled out?
Nearly £31 MILLION LOST SINCE Cyan bought Connode, that deal has proper held things together tonyj.
DYOR ,LOL
typo, lose the lot, get it tony boloney?
It matters not if you loose the lot, buyer beware.
You are really not getting this tonyj.......
Last 4 years, Virus free.....
2019 Revenue 2.3m Loss 5.4m
2018 Revenue 4.4m Loss 6.3m
2017 Revenue 1.2m Loss 11m
2016 Revenue 1.8m Loss 8m
IPv6 and updates have not held this company together at all. Constant dilution has kept it afloat, and that will not be available again IMO.