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Stockopedia write up this morning says it's un investable, and very surprised it's still trading...
This company has been going for over a decade, yes there is the change of direction, but also I think it's the lack of comms.
Once they become stable (which is happening), winning more contracts and most importantly putting out news, I think the share price will fly.
This company is only heading in one direction, despite a fantastic product, blue chip clients etc, they don't have the management team to implement any sort of growth strategy. The share price and shareholders have really suffered, and there must be an EGM called immediately, and the CEO replaced, if this company is not to end up like a lot of AIM companies with very poor management - liquidated or bust!
Outlook
Following the successful transition of PGi Connect Meetings business and the commercial progress achieved in Cloud Telephony, the Group now expects FY 2022 revenue to be marginally above market expectations at no less than £15.5 million (H1 2022: £6.6 million). FY 2022 EBITDA is expected to be marginally below market expectations, due to higher PGi Connect transition execution costs, but is not expected to impact FY 2023 profitability.
This rapid acceleration of revenue run rate leaves the Group in a materially stronger position to accelerate its primary Cloud Telephony growth line of business in 2023, where a sizable market opportunity exists for the Group's differentiated multinational value proposition
Another jam tomorrow by Laurel and Hardy. Copy and paste from the last update and the one before
13-Dec-22 10:50:39 4.512 4,800 Sell* 4.50 4.65 216.58
£216.58 sell and the MMs drop the Bid to match ..... no liquidity or volume for now
What does anyone expect from a management team that has shown itself to be greedy and self-serving time and time again - the thread title suggests they are crooks - a strong throwaway statement - I've seen nothing to show they are crooks, incompetent and greedy yes.
Issuing large quantities of shares to themselves (done via a committee, but it's still them) is unethical after all they are responsible for trashing the SP and benefitting from it without even setting a hurdle to reach is incentivising failure.
WRT to having 2 CEOs , it is an absolute disgrace, I argued long ago that at least one of them should be sacked - but make no mistake, they must have the support of the big shareholders who will want a return on their capital.
So, it changes nothing for me, I still think there is very significant potential for a turnaround for Loopup and we are at or near rock bottom.
The latest MKS organisation set-up rolled out a few months ago has Stuart designated as the CEO (not co-CEO) so he appears to be in the overall executive leadership position. Having someone designated as co-CEO in their set-up is unorthodox. Maybe it is pre-empting a near future split into two separate listed businesses where each will require a CEO (traditional shops retail and online retail)???
Anyway back to LOOP, I shall watch how things pan out with their Mgt set-up etc into 2023.
28jaczar01
Marks and Spencer has a CEO and co-CEO
https://corporate.marksandspencer.com/about-us/our-leadership
Nope not convinced…..there’s plenty of Companies around with more than one founder but that doesn’t lead to them having multiple CEO’s……simple ABC of Company Mgt set-up is that there needs to be single point of ultimate executive management leadership……Chill brands (ticker: CHLL) is the other similar set-up Company that comes to mind that until recently had co-CEO’s and that did not end well.
But surely with shares issued to staff, could this now end the drought of news coming from loopup? They can finally start giving some good news?
"A Company having co-CEO’s which inherently leads to lack of ultimate accountability / responsibility for performance should tell you all you need to know here."
Co-CEO is just a job title , they share because they are both co-founders ...not much more....they are accountable to the shareholders who vote each AGM as to whether they should continue .... each has different areas of responsibility ....
Steve Flavell - Based in London, Steve oversees global commercial activities and is accountable for setting and delivering the Group’s financial plan.
Michael Hughes - Based in San Francisco, Michael oversees the Group’s product development, engineering and network operations worldwide.
Not so sure about being recession proof…..Zoom results seem to highlight sector headwinds.
https://www.thestreet.com/markets/zoom-stocks-slumps-as-muted-sales-outlook-clouds-q3-earnings-beat
A Company having co-CEO’s which inherently leads to lack of ultimate accountability / responsibility for performance should tell you all you need to know here.
plus... 10,000,000 new shares created on November 28th (5.7%)
As part of a broader grant of options to employees, the Group's Remuneration Committee and Board have approved the grant of a total of up to 12,500,000 share options to employees, including the following PDMRs of the Group at a strike price of £0.0525 (equal to the market closing price on 18 November 2022) and with a four-year vesting schedule with one quarter vesting one year after the grant and the remaining three quarters vesting monthly over the subsequent 36-month period subject to continuing employment:
What planet are they on 4 years WTF !
White - I think that's a little too much in one step - start by being open to the possibility of them pulling success from the jaws of disaster and work up from there. lol
Just heard on the Radio that Whatsapp has gone down around the world - millions of users denied service. I don't know if that helps or hurts Loopup. Would be better if Zoom went down so their wings get clipped, if nothing else it will perhaps highlight the importance of reliable/ secure comms.
White - I'm not that optimistic (just a little after recent news), I don't like the CEO's one little bit, however I'm just keeping a balanced viewpoint because recent news flow has provided some real positive impetus.
How a potentially large (very large) chunk of revenue and profit can be seen as an anything other than an outstanding development is beyond me. The market ignoring it, does not mean it wasn't good.
Yes, they have the well documented problems the most important of which is the rate of conversion of cloud customers - it's still far too slow in generating meaningful revenues - if they pick the pace up all other problems fade away. If/when they get to grips with it this investment takes on an entirely new completion - the SP can soar due to the nature of these type of services once the overhead is covered it becomes very profitable.
Of course, it's easy to talk it up, but the at least they now have a chance to turn this around, it's all down to our management team to deliver. Maybe we'll never see our original stake back, but we may get a good uplift from here.
So, I'm happy hold for now.
Interesting general viewpoint from Gartner (Loopup quote their growth projections regularly) that IT spend including comms will not stop or slow materially if there is a recession - which is surely very good news for :Loopup.
In fact, they go further with their analyst apparently suggested the movement away from some services to new technology to drive efficiency and costs - Loopup shareholders don't need to be told about that as they suffered with the fall of the company's legacy business and now all rests of the Cloud Comms initiative coming good.
“Economic turbulence will change the context for technology investments, increasing spending in some areas and accelerating declines in others, but it is not projected to materially impact the overall level of enterprise technology spending.”
IMO the nature of the problems caused by a recession could very easily cause some companies, especially international companies to accelerate their plans to migrate the Cloud based Comms, whereas smaller operators are perhaps more likely slow or stop initiative.
At least we are not yet "doomed", "all doomed" and they can carry on progressing the company's plans.
White - I suspect you have a different take on it.
https://www.cityam.com/it-industry-is-recession-proof-as-businesses-look-to-cut-costs/
It's always good to have a significant shareholder increase - but is that just part of the recent capital raise? Others should also be releasing holdings RNS's I would have thought.
Strangely, for me one of the real positives with the capital raise was that it was shunned by PI's - who probably bought in the previous offer hoping to turn a quick profit and where well and truly burned - and contributed to the SP collapse.
PI's (the active ones) have practically deserted this share which means we get very few trades, and no one just acquired a large quantity of shares with the intent of trading/dumping them if the price goes up slightly which I'm sure happened last time.
Institutions generally stick to their shares longer and sell based on better logic and understanding than the majority of PI's.
Is this significant? I've seen quite a few big buys recently and lots of little sells. Get the feeling there's some insider buying going on.
Schroders Plc announce a 7.1% holding with 8,289,913 shares
Thorden - That's a fair stance if you feel it's too risky at the moment
I'm not buying any at the moment either because I have lost money and I don't chase losses.
WhiteKnight14 - if I hadn't any hope that this could come good, I would sell up, as I said above, I don't chase losses.
Your stance is very strange "ever the pessimist" why not sell if you are adamant the company is finish, as your logic suggests that if you truly are a shareholder with that view you expect to lose all your money. You are simply trolling the BB, criticising even good news and ever positive comment. Of course, I have credited you with being a shareholder, but your posts more likely suggest a disgruntled ex-employee, troll or perhaps pursuing some short agenda.
Will wait for positive news and that needs to be cash positive before investing more , burnt but not as many as most
Hopefully today will represent a change point in the company's fortunes as the AGM will approve the capital raise and mark a reset - with all sections of the business enjoying what should be very significant growth over the next year and the cash available to support it.
As long as they put in a solid performance this should mark the low point for the company, I'm not talking about the SP of course, that doesn't necessarily follow performance in the short term as we all know only too well.
IMO a good day if resolutions passed even if the SP moves the wrong way for our liking - its progress.