Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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A complementary area to digital mental health care is design in mental health:-
"Design in Mental Health"
"4-5 JUNE 2024
MANCHESTER CENTRAL"
https://www.designinmentalhealth.com/
"The Purpose
Design in Mental Health Conference, Exhibition and Awards is the annual event where organisations and professionals interested in advancing the cause of good design in mental health settings meet to learn, share and explore collaboration.
The event is organised by Step Exhibitions with Design in Mental Health Network, a charity which aims to improve mental health outcomes by promoting knowledge exchange, co-production and quality standards in design in mental health settings. There is a profit share arrangement between the two organisations, and the funds raised will be declared by the Charity and be publicly available in their annual report.
For more on Design in Mental Health Network, please see www.dimhn.org.
If you are involved in the design, build, equipping, refurbishment, or management of facilities for mental health treatment, or are a clinician or academic in the field of mental health, Design in Mental Health is a place to be informed and inspired, share experience and best practice, discover new products and solutions, and to have meaningful conversations on the issues that matter."
https://www.designinmentalhealth.com/about/
And today and tomorrow, NWT (Newmark Security) subsidiary company Grosvenor Technology is exhibiting at this Design in Mental Health event:-
"Grosvenor Technology
3,305 followers
2w · Edited
Understanding the role of design in mental health settings is an important one for us at Grosvenor Technology. So we are pleased to be accompanying Third Millenium at the Design in Mental Health 2024 annual conference in Manchester on 4th - 5th June. Register for free here ..."
"Grosvenor Technology
3,305 followers
4h · Edited
We're all set up at the Design in Mental Health 2024 conference and exhibition - head to stand #112 to experience JanusC4, our #accesscontrol solution working in conjunction with Third Millenium's access control readers. ..."
https://uk.linkedin.com/company/grosvenor-technology
I've been fortunate to pick up some good qualitative research from LSE posters previously from the likes of LinkedIn etc, so am just putting these bits here so others can take a view.
https://www.theepochtimes.com/epochtv/concerns-over-kooth-app-in-pennsylvania-schools-5635701?utm_source=ref_share&utm_campaign=twitter&rs=SHRNCMMW
https://www.youtube.com/watch?v=yKk6PgkWuho
Whilst I hoped that some of the negativity might blow over, or be succinctly addressed by the company, it seems to be gathering in momentum and severity. A great amount of the negativity needs to be taken with a pinch of salt due to poor understanding from individual commentators but as I have no means of crosschecking some of the hints (AZ, loss of PA district numbers), I have decided to sit this one out for now. Hope that the company can address concerns.
Tuesday 26th March for Full year results and hopefully a positive update !
Yes , glad to see it emerge a little from the doldrums. Thought we were going to have to wait until full year results for it to spark into life.
Nice change in SP direction last 2/3 days. There was a sudden flurry of buys and then some late declared trades. Then I suspect watchers bought in thinking bottom had been reached.
Not sure if catalyst was seller being cleared or if tipped somewhere. Or is it too much to hope that word leaked about long awaited Penn contract being finalised.
Really need to get this Penn contract done and dusted to try and generate some buying interest again.
It does seem remarkable that the SP is now back down to the level it was just before the California contract details were announced. At which time they were able to do a significantly oversubscribed placing at a premium of 300p. Makes you wander where all that demand has gone.
Ken Wotton of Gresham House comments on Kooth at 51:50 onwards
https://videos.voxmarkets.co.uk/video/7036/vox-markets-fund-manager-series-ken-wotton-managing-director-at-gresham-house/
Their website advises that trading update coming tomorrow , 22nd Jan.
Fingers crossed !
Last 3 years, Trading Update has come on the 19th, 20th and 22nd of January. I was expecting it yesterday or today. MMs happy to take SP down on low volume until we hear any definite news. Hoping that they’ve held TU back as they want to accompany it with some pending contract news.
A somewhat tepid response to today's announcement. Clearly the rush of money in the last couple of days was expecting more news other than California. Nevertheless , while nothing new it is still a big positive given they have confirmed that they have delivered everything they said they would and on time.
Lets hope that this is simply the start of further announcements.
Would expect to see one more Holding notices after all that.
Canaccord last notice had them down to 8.96% or 3.26m shares. Although one site shows them below 8%. BGF have been adding and were up to 6.15% in November.
Interesting though to read this comment from Amati about Kooth in November.
“So a well established business, respected amongst practitioners, but really expanding from the UK into the US is what’s going to make it for us quite an exciting investment. Important to note that it’s a more risky position than many of the holdings in the fund. Therefore, it’s quite a modest starting position, but nevertheless, one that is very exciting.”
With the company now less risky, I wonder if might they be increasing that “modest starting position”?
Crikey, just look at the delayed prints from Friday - nearly 800k shares changed hands around the £3 mark. Todays move tells us that either the buyer wanted more or the seller ran out of stock at that level, positive whichever way you look at it :)
Excellent stuff as ever.
These sentences whet the appetite.
“widespread adoption in the American market."
“Collaborate with the European CTO to develop and implement a robust technical strategy”
Yep, the drag from fund redemptions should certainly ease this year & allow the cream to rise to the top. £4-4.50 should just be the starting point for a re-rate in my view, considering shares spent nearly all 2021 trading at £3.50-4... The strategic progress made in the US since has been stunning & unparalleled in the AIM small cap space.
Over the weekend the Kooth CTO shared an interesting role that they are recruiting for;
https://www.linkedin.com/jobs/view/3798347166/?refId=1U2ci3B7Rm63ADBikIvmXw%3D%3D&trackingId=1U2ci3B7Rm63ADBikIvmXw%3D%3D
"VP of Engineering - Consumer Marketplace - Scale-Up - Remote/East Coast
This pioneering marketplace product is immediately hiring a VP of Engineering to lead its technology division in the U.S., offering a pivotal role in shaping and evolving the innovation of a new platform for widespread adoption in the American market."
"Key Responsibilities:
Closely collaborate with the CTO and CPO to shape the platform's vision and its in-house migration.
Assemble and nurture a team of exceptional, remote, US-based engineers, ensuring the app's delivery and success.
Assume full responsibility for the new and parts of the existing app, previously developed by a third party, and make critical technology decisions.
Embed security, accessibility, and best development practices into their processes.
Build and manage a high-performing, delivery-focused US team within the established European HealthTech brand.
Strengthen ties with the global team, promoting a robust remote-working culture.
Collaborate with the European CTO to develop and implement a robust technical strategy.
Oversee the successful delivery and operations of the application, ensuring compliance and data security."
Appears to be a clear sign that things are full steam ahead...
Yes hopefully with interest rates set to fall and UK equities looking cheap hopefully this selling to meet redemption requests will dry up.
It’s worth remembering last years SP movements.
In March Kooth had to announce early that they had won California contract and details would follow. A month later SP was about 292p. Despite this knowledge by late June, SP was below 240p and barely moved even when Kooth informed market that contract would be signed shortly.
Contract was RNSd 4th July. Two weeks later, with placing done, SP was above 370p.
And yet despite evidence that Pennsylvania pilot has been successful and I’d say 99% certain to be extended. And despite evidence that California has been launched on time and app is now available in 13 languages, the SP had fallen back below premium placing price.
With either Penn RNS or Trading Update due in next 3 weeks, I can easily see this trading in 400-450p range quite soon.
It does appear to have had support the last couple of days. Unless there are any funds requiring to sell to meet redemptions , there is unlikely to be much supply of stock.
Someone clearly wants in here, L2 order book is well bid, for a SETSqx share this generally suggests international interest... It still amazes me that we aren't trading at all time highs, however it won't take long to get there if this buying continues & the news flow we expect begins to land.
Hmmm, LSE don't like *************! Abbreviated, it is ShPr, run by T Winnifrith.
To add to the comments in the last 24 hrs...
If Canaccord is still selling lines of stock, maybe to meet redemptions, with AIM now bouncing off its lows and so many shares massively below levels seen in the past year or so, in spite of many announcing decent trading updates / results, it may not be a negative sign. Simply, there are bargains to be had at these lower levels of the AIM market and cash can be required to build positions in new companies. Certainly, this is how I manage my parents' AIM (IHT mitigation) portfolios, sometimes top-slicing, to free up liquidity to invest in other shares.
Also, the lack of news flow might not be a negative, albeit to be in a vacuum with the shares drifting on thin volume is always frustrating. Kooth is trying to secure deals with State side authorities. I am sure these will be very bureaucratic organisations where things do not happen quickly or in a timely manner. The last thing that Kooth's management would want to do is to over-promise and under-deliver. It is better that they keep schtum and allow the business to develop, updating the market when things are concrete.
ShearClass , i note cannacord had over 13.5% last May so unfortunately i guess they may have some way to go , though as you say its unclear how much they may be forced to liquidate. Its certainly very positive that the shares hold the 300p level notwithstanding the odd day.
Your digging on future opportunities is certainly potentially very positive , even more so than my previous expectations !! Fingers crossed.
@Acuere, I suspect the dates you quoted provide the answer to your question - the Penn contract will be running from 21/02/23-21/02/24, so there is plenty of time between budget approval last month & contract renewal date.
Excellent volume this morning @£3 - potentially from word of the successful launch starting to spread? Presumably any II that bought shares in the July placing will be keen to add at the same price if execution risk is now substantially lower? Canaccord likely still providing supply for now, given that they didn't partake in the placing and have been reducing their holding all year - no doubt selling illiquid positions first to satisfy fund redemption requests. When this supply dries up I suspect shares will fly.
And that's a good point on no news being good news @Nortel, likewise I am very keen to hear what else they have been doing - digging has uncovered their plans with Aetna in Kansas / Illinois, ongoing work in Arizona with the same team that put Penn in place & then there are undoubtedly a significant number of ongoing workstreams with the 30+ other states that are in the process of embracing digital mental health resources. And then we have the international licencing opportunity!
Yes , news vacuums are never good , especially for AIM stocks.
Nevertheless , the fact that the launch has gone ahead as expected is clearly positive and in itself not a requirement i guess for an immediate statement given they have already said it would begin on Jan 1st. The fact that there is no statement at least means nothing has gone wrong which would have required said statement.
Hopefully a trading statement will be forthcoming soon which will also provide an update on Pennsylvania and if very lucky something on new opportunities !
Yes an update would be welcome. They did Trading Update on 19th January last year so should hear something soon.
I would certainly like to hear confirmation of an extension to the Pennsylvania pilot. I’m not entirely sure what dates the initial contract covered. The October 2022 RNS said it covered an academic school year. The service was made available to students on 21st February 2023.
I was pleased to add at below the 300p placing price recently, but with todays SP drop it appears I should have waited.