Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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On the leaderboard...see a lot more people coming in tomorrow.....
Tomorrow morning
Bbciplayer you can watch Newsnight yesterday's
also skyyreported
huge potential here for Osirium to go big
https://youtu.be/IoaPIu5uSl0
It has got to go up 1400% for me to get even, not 10 times like I said earlier on Clon that you advertised this on.
Huge potential here
https://twitter.com/Osirium/status/1666730784709832706?t=G_58aoetnAiqwhybnC6M6A&s=19
BBC, boots, British Airways to name a few cyber attacks
https://youtu.be/rGlG1sBY0Jw
Uk getting back from cyber attacked from the Russian hackers demanding tens of millions of pounds.
https://youtu.be/IoaPIu5uSl0
I was going to buy £2000 worth yesterday,but a neighbour came around not feeling too good,so didn't buy ,when he had gone the market was closed.So a bit of luck because of today's drop,but I do like OSI very much.The shares I hold here cost on average 5p so at this price will average down a fair bit.Years ago I had quite a lot of GBG and they did very well in the years I held them,so I'm hoping that OSI does the same.
Well, Im only here to make money. If these options get exercised then I am looking at 166% gain. (SP needs to be 4p).
There must be a reasonable chance we will see 4p, or why bother? Yes, we might see 4p after further dilution, but the more dilution here makes 4p less and less realistic as mcap has to increase, so maybe no dilution. Perhaps just a buy out, which may allow the options to be exercised (even below 4p). I will continue to hold, happy with the odds as I see them.
Agreed. Ridiculous scenario. Shareholders ripped off again
Delighted the options are sorted, phew, blessed relief that this number one priority has now been put to bed after yet another month, I don’t know about anyone else but SH can sleep easy now, I mean it’s not like there is anything more serious that needs dealing with....
Give me strength
Porky you are about to lose all your investment in here too .
You can not learn enough lessons do you 🤦♂️
The big problem with the trading update is that we can see the growth which is superb but we can’t see the cost of that growth. The issue is the CAC without doubt. Spending far too much money on client acquisition.
It’s really difficult to fully know how much cash they need to reach Break even. As a rough guess It looks like they could do with about £6m, that’s gives them 24 mth runway assuming similar growth and costs to get that growth as existing in order to generate an installed client base that would cover the base line costs and then start delivering a profit. that’s what it looks like but none of us are close enough to the figures.
I think anything less than £6m would give added pressure. They need some sort of improved fiscal control to really get on top of the numbers.
AIM annoys me all the time, we are big boys we can take it, let’s see some honesty around what they really need. A good FD could look at the CAC and accurately pinpoint where they cross into profit. If we had that information, we could support the placing confident it will be enough.
Anyhow, See what comes next, they have authority now so let’s see where the placing falls and then SH can get behind them.
I got in at over 20p so needs to go some to get back to that.
Even with the R&D tax refund, they will need cash soon, it won't touch the sides.
Does sound very positive, market was sure these were to place hence the lowly sp, doesn't look like they will with the revenue/growth rates.
Thoughts?
This all sounds very positive so lets hope the SP climbs from the gutter price it currently is.
A tumble weed just went past as we all wait as wait does....
Market still in shock i think since the results statement. We all know the survival placing is coming its just a case of how much and what price then we can all move forwards.
Hopefully next weeks AGM gives us some ideas, kind of looks like its going to be 1.5p or 1.3p or something as MMs are keen to keep in this holding range. As long as they can get a deal done that's the main thing.
Always nervous of these type situations in case they try and crash the price down further to take it private. I can see loads of private equity players watching this one, the mcap is ridiculous but the CAC is still too high IMO.
@Datron
I take on board your comments. For clarity I absolutely love this business, it’s a terrific SaaS business materially undervalued BUT like most on AIM the past free flow of cash has come all to easy. We are now in a financial drought and as great as the business is, it simply doesn’t have the cash runway to survive without a cash injection
Excluding the glaring fact that it needs stronger financial governance, needs to reduce its CAC materially bring in some short term overhead reductions, I estimate it probably needs about £7m cash injection to give it a 24 month runway and sufficient wiggle room to meet the objectives. So we are talking material dilution.
I’m kind of hoping that an AIM fund, PE player or some II out there will see the potential of this and give them the lifeline they need. IF the house broker can secure that support I believe the world and their uncle will buy in here. This sector is red hot.
But for now, I can’t imagine anyone buying in here with a major placing due any moment or worse, risk of no placing and it going private and SH losing the lot that’s the problem.
As a side, I understand SAAS very well but even I was shocked at the cash burn relating to CAC, I question if too much Commission is given away to resellers or if a change of direction to a direct sales force would be more appropriate. Addition to the board of some experienced SAAS background NEDs could also help?
See how it goes
Good luck
https://channellife.com.au/story/osirium-technologies-continues-its-upward-trajectory
Thoughts on today’s announcement? Quite unusual in my experience for management to listen to shareholders at all, even if one feels they haven’t gone far enough.
Porky, I took the options granting as a very bullish signal. Bearing in mind that the FY accounts left some thinking that a raise was coming, I took the issue of options as a signal that a raise is very unlikely. This has allowed the directors and founder the chance to significantly average down to a more realistic price. The alternative would have been a huge discount placing where they could have bought in at what, 0.4p or something silly. The options are going to be at market price, so clearly provides an incentive for the BOD to increase the SP here. Yes, we could bash the company for getting in the situation where the price is below the current options, but the current options are at prices of 30p+. Fact is (as you know) this is a start up and it has taken longer to come to fruition. During that time, appetite for capital raises has seriously diminished, so the last round at 2p was in effect the discount placing. I am not defending the performance of the board, but looking at it as an investor with a holding very near the current price, I took at the options with relief that the BOD are not getting in under me. Recall, no BOD has shares under 2p and you can buy under this today.
My hope is that they have visibility of cash / new contracts imminent, raise is not needed, dish the options out at todays price, then drop positive news and re-rate can begin. I can bag here before they will sell those options.
Why was that the priority call?
If anything is to annoy the hell out of a private investor it’s when Directors scrap share option price targets because they didn’t deliver and want them reissued at lower prices.
So does this mean that they can in effect buy 4.6% of the share capital increasing the shares in issue and sell them back immediately? Or worse, short the **** off the SP should it start recovering knowing they can buy the stock back with the the options?
Will be interesting what he says about options at the meeting but frankly they should be left alone. Add some new ones at 10p if they want an immediate lower target. The whole point of options is to give them something to work towards not just give them out as a freebie employee benefit. What next
@Spero
I was thinking along those lines at first, that SH would just Fund the big dips in cash flow as they initially onboard a client like a traditional SAAS model hence the boom year you describe in your reply from the installed base the moment they slow down on exponential growth.
But, this is increased losses year on even if you were to treat deferred income as fully paid so I’m now thinking this “Partner First” policy could be where the issue is? I have no clarity but wonder if they are constantly paying these partners? Are they paying commission on renewals for example, are partners paid too much upfront? Somewhere in the chain too much money is leaving the business.
In my opinion, they need to be reviewing the cost base, I would probably drop this policy, adopt a direct sales first approach and try and get resellers down to 30 or 40% of sales. Don’t think SH would have an issue funding the SAAS model knowing year two renewals deliver big returns.
That COO appointment can’t come soon enough frankly
I think that old adage works if they're selling something once, like double glazing.
Here, they have CAC once, then repeat income year after year. Repeat years have zero (or minimal) CAC. Customer renewal rate is 96%. 70% of customers expand the range of services they subscribe to.
Could they have no customer acquisition cost for a year and grow their coffers on repeat income / renewals?? Not sure how the numbers stack up there. I'm hoping that customer sign-up continues and that in X months/years, there should be a large enough base of repeat income with no attached CAC that they are profitable. I've no idea how large X is