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SP has dropped today though. Shares like FLX are not that affected by wider market sell-offs funnily enough as they sink so much of their own accord that there is little froth to be blown off the SP That said the company has reverted to type with no updates on Solar Winds not to mind new contracts.
with so little volume traded they must have been buying everything nearly
premier miton group increases stake from 8% to 10%
must be due some news on solar winds deal by now
cheerleaders? For a share that is supposed to be a gateway to riches as investors are smarter than the market then there is not a whole lot of noise here any more. FLX must be stuck in a lot of bottom drawers. The usual silence around contracts while the BOD enjoy their phat salaries. Never mind I am sure they will be doing some roadshows when the weather brightens up. Ah shure, why wouldn't you?
last week asking for obscure words that end in NX. Falanx might at last have made you some money. Actually Phalanx was a pointless answer.
How on earth would the MM make a margin picking up £200K worth of shares a fraction below the ask, The broker would be sacked within minutes
There was potentially positive news from the trade however, it would appear someone with a £100K holding is potentially willing to hold a bit longer
It is a rollover. No way could FLX's SP could sustain those trades if they were both actual sells. More disinformation from the dodgy one.
despite big sells yesterday bodes well..
Afternoon Michu. Flx has been claiming to a sweet spot for almost ever without ever capitalising on it. Travelex will make no difference to FLX just as Ashley Madison and other cyber attacks have made no real difference imo. As you know I am sceptical about the loan that is paying for the Furnace deal. I don;t have to try hard to ignore what FLX is doing well because there isn;t anything that I can honestly name that is doing well. I have no problem with you or anyone making money out of FLX except if it turns out that the board are milking investors. You mention turnover of 5 million pounds. You have to weigh that against admin expenses of 4.14m in the last FY. We will see how much the sale of Furnace actually dents the admin expenses. The will make little difference for FY20. Even it's bounce off ATL's has been poor and exaggerated by how far it has fallen. And yet it shows no reason for it to be investable except the hope that it eventually turn good.
That's a good point NTM and a 1.1m cash injection is certainly needed - good business over all to be fair getting that price for the asset, did they only pay £400K for it?
For the first eight months of the current financial year, Furnace made a loss of £193,000 and received capital investment of £218,000.
8 months so 2/3 of the year, one assumes 300K investment per annum and costs of Circa 300K per annum, should save them £600K per annum to the bottom line
It's a start... but it's not much, total comprehensive operating loss for H1 2019 was 1.546m - even with the reduced costs going forward, there is still much work to do
Agree that if the 'promised' solarwinds revenue does start to flow in, at any point in 2020, then they should hopefully be able to breakeven, although they would need at this rate Circa 3m revenues at 80% margin from New Business (e.g. Solarwinds) to achieve that, so Circa £250K per month
They do mention an update in the Interims
'SolarWinds is live and additional improvements are expected to commence in the first calendar quarter of 2020. The mid-market product continues to grow, and we are also expecting this to progress in early 2020.'
No mention of the previously mentioned significant ramp in revenue, and the figures they was quoting in 2018 (Wasn't it 200-400K per month?)
Who knows, good luck to all those invested, if there isn't any Solarwinds revenue in the next 6 months here (significant amount) now they have said its live and ready then it will be clear in the results
You could say they're actually selling assets already Glr : furnance sale
Not only is that taking many hundreds of thousands of pounds of costs out it is also raising 1.1m sale value.
In a business turning over very approx. 5m gbp pa that's cumulatively very significant imho.
As well as such - needed - addressing of costs, they're also growing turnover. On top there will hopefully some Solar Winds licencing revenues soon now starting to flow in.
Ps; The worrying Travelex situation we re focus minds again on this as a crucial area for every business.
Truly a majorly growing space and are decently established in it now.
Clearly significant risks here but some opportunity here which both you and fk1 seem to go try hard to ignore imho.
Just had a read of the RMS RNS's statements over the last month, if you don't recall it used to be AERO before being rebranded, on the 19th December they proposed the sale of their GeoCurve business because the capital required to improve a loss making business was a risk they considered not worth taking (competition among one of the reasons) - they used to have Geocurve down as the game changer as well
Made me wonder if this could be the future of FLX? They do have some parts of the business that are doing OK (Assynt for example) but overall, the losses are mounting and 4m GBP was not enough to straighten this company out, would another £4m GBP be enough and at what point, do they simply just start selling off the assets?
The current MCAP is just over 5m, how much more cash does this company need?
All the best not advice do your own research
Very large trades today with a second of each other. Must be a rollover as the price has not been affected.
Nice gravy train for the board GLR so they can afford bread and circuses in buying a paltry amount every so often. A pure gambler's share now with jam the day after tomorrow the promise here. No news due in the short-term after a director buy so watch out for volatile trading.
There really doesn't seem to be an investment case here, they actually appear to have somewhat peaked and I am not sure that the revenue will increase that much for this FY, what I am pretty confident about is the operating loss will significantly increase and the cash position is concerning
A real shame, had this down as a potential great company back in 2018, they really need some recurring revenue from Solarwinds, or another strategic partner
Going down - as forecast by FK1.
Yet again, I need to express my gratitude to FK1 for helping me to avoid an even greater loss.
"We have not seen the bottom yet."
Ignore FK1 at your peril. He is the only person on here who has been consistently right.
Better than nothing I suppose. He is on a nice gravy train here and his previous purchases have floundered. This flounders on no news so expect more seasonal falls in the short-[term. Nice to see Mike Read pay the highest price today. Perhaps he needs a new broker.
Very small buy from Director but to me it just indicates there is no news due on sales, contracts etc. as if there was anything material in the pipeline the director would not have been allowed to purchase shares.
which means there isn't even a technical bounce here from the sell-off. A very thin spread which doesn't ever last long with FLX. Any sell in volume will bring a new ATL for FLX. Down almost 4% in a buoyant market. We have not seen the bottom yet.
while I'm always open to tactical trading for part of my position here FK, my core reason for being here - and the majority of my bet is to this end - is that I believe this business can achieve nett profitability at some stage soon(ish). Maybe upcoming financial year will see that, maybe not.. if its a say 50% chance of this then I'm ok with that because if it happens this s/p will multi bag from for eg 1.25p, or from a lower level .. Also I fully understand that If it doesn't achieve nett profitability it may well continue ticking on down and another raise would likely make that a punchier tick on down again... and I'm ok with my loss here widening accordingly.
(Equivalently to its train crash s/p performance for failing to meet its targets, If this was, at some stage, to look to be turning nett profitable this can of course rally hard quickly eg double figures could be doable here in a good/very good case scenario imho )
Hi Michu. Investors have been waiting a long time for something to turn up here. Tbf you may have well have timed your buy well today as there was a lessening of the drop since it tanked. You and Dodgepot are two that have bought in. I suspect many of the others who bought are hoping for a technical bounce.
Ok they have sold Furnace which was loss making but costs are certainly not under control. And no announcement of any contracts. I wonder will there be an announcement of some roadshows soon?
You two-faced hypocrite.
I hope 2020 brings Peacefulness to you Noel.