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Strange how the selling appears to have stopped following yesterdays interview/chat!!
Craig seemed to be responding to broker forecasts, and I assume the recent share pice drop, in saying that everything is on target which is reassuring. Does anyone have access to broker forecasts? I can only find the 50p one from last year.
Before saying such things. Think about this.
Did they state net current assets. The have mentioned the assets but have said nothing about current liabilities.
Implicitly you assume there are no liabilities due which is very unlikely
Mafee.. a raise worries me little tbvh, because it's done and HAS been done on a minimalists basis for needed working capital. Which is what impresses me about the BoD. With recurring revenue the raises move further away, or rather few and far in between due to growth!
I expect investors from the last year expecting the "Motherload" Contract to have been announced by now, but realise little that these things take time ...AND correct again, (I keep forgetting this is main market), this isn't AIM listed.
The Company, IMO and view are working hard in the background getting these small and mid-sized contracts, and people tend to forget that these all add up. The larger contracts will drop after complete proof of conception is realised!
It WILL happen... but as per usual, watched kettle...., patience required. I'm invested from last year and don't even bother looking in regularly I'm so confident of BoD! Each to their own!
In the short term I don't expect one but I do agree with your previous point that in future there could be one but if so it'll be because they won a fat contract and they'll be using the proceeds to accelerate growth which will be a big win for us (I would expect it to be at a premium not a discount)
I topped up with 3 trades today anyway
Apologies to all, yes you're right, (Mafee), £800K! All in all, that's pretty good.. Happy with that!
Seems to me that there is a fear of a placing which has caused the decline in share price and there shouldn't be as the runway is still strong, expenditure managed & recurring revenue.
People just bored?
If we want to go one step further with cash, lets talk about how £400k accounts receivable will be from ONE client of Ondos.
I'm going to assume at that amount its probably a quarterly payment which would put the yearly equivalent of that to £1.6m. Again from ONE client.
In the interims the exit run rate end of September was £1.7m so if its now assumed >£1.6m from one client it looks like growth is well and truly still a factor here
Yet for some reason people can't see the woods for the trees
Say what now?
First, the placing was ages ago that money has been in the account since it happened
Secondly, it literally says in the RNS that it is from "account receivable"
If you don't know what that means a quick Google will show you that it means "money owed to a company by its debtors"
In laymans terms, the £400k is money owed to Ondo from sales of products to clients
Assuming the 400k reciept on the 2nd April was from the placing it would mean a burn of 100k per month or thereabouts on the original amount
Seemed fine to myself also having just watched it
£600k worked through?
£1.08m placing, they have £800k left...
How on earth is it "a touch negative"?! At start of the month they still had £800k, with a net cash burn since placing of only about £80k
And this number is looking backwards and not forwards. The whole strategy is low upfront cost for clients, and higher recurring subscription revenues so the net cash burn will from now only DECREASE and probably shift to positive very soon.
This especially as a huge amount of stock was built up (at a big upfront cost to the company) to satisfy the upcoming demand.
Literally everything points to this getting better and better
Hi
Not Aim here main market listing
Gla
They're gona need mo money soon'ish. This unfortunately is a growing pain for most companies on AIM. £600K worked thru since December, (last raise), but we know they've been active getting & securing global contracts. Another raise shouldn't be an issue imo.
Your posts seem contray to other posters who have watched it, and the cash issue, a touch negative if you ask me
Another very positive & upbeat interview with CEO particularly about the pipeline of deals to be announced in US, Europe & UK
Proactive Investor
https://youtu.be/7vkTCsmqEjA
Any thoughts on the interview.
i actually like the CEO. Normally he is full of energy but this time he was quite stiff and stumbling.
he mentions getting ISO standards etc to get through next stages in USA.
He seemed very awkward this time. He says he was backing up broker forecasts about being inline but his manner was not the best
They have cash as per RNS and recurring revenue
I had a feeling cash is the issue here. You may have potential growth but you still need working capital and a runway
Good point
Good and very honest interview with Craig.
The company has established collaborations with Nationwide in Ohio, Selective in New Jersey, Mutual of Enumclaw in Washington, and Pure Underwriting in New York, all of which have received favourable responses from insurers and customers alike. https://twitter.com/Share_Talk/status/1780190078599348610
These successful introductions have bolstered confidence among Ondo’s management about the potential for further expansion into additional states and establishing more partnerships throughout the year.
“The positive feedback and results from our recent launches in the US are very promising and highlight the strong future for our company as we continue to expand in the US,” stated CEO Craig Foster. https://www.share-talk.com/ondo-insurtech-on-track-lon-ondo-ceo-craig-foster-talks-to-zaks-traders-cafe/
Sorry didn’t word that right , if as a shareholder you hold share above 3% you have to notify the market if you sell any holdings, so if he sold any amount that reduced his % holding he would have to inform the market, this is done via a TR1 , we haven’t seen any
Its a lot of shares to get from 5.8% to 3%, surely someway to go yet before TR1 IF it is Heddle selling!!