The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
https://letsencrypt.org/ Let’s Encrypt: Delivering SSL/TLS Everywhere Vital personal and business information flows over the Internet more frequently than ever, and we don't always know when it's happening. It's clear at this point that encrypting is something all of us should be doing. Then why don’t we use TLS (the successor to SSL) everywhere? Every browser in every device supports it. Every server in every data center supports it. Why don’t we just flip the switch? I don't think this is good news for any Company that relies on piggy-backing/hijacking live web users connections to/from Web servers?
if you are considering buying in have a look at the links below And you want some backgroud / historical information to base a decision on as to whether to invest (if you don't trust links goto wikipedia and look up phorm or kent ertugrul using the search) Look back at all the reports even when phorm was called 121media it has never made a profit, fsecure classified its apropos product as a root kit, shortly after 121media became phorm, coincidence? Could phorm have been trying to bury the link with apropos rootkit ? the links below are public records of the CEO's previous businesses and see if there is any history of profit or failure and draw you own conclusions the CEO's entry in wikipedia http://en.wikipedia.org/wiki/Kent_Ertugrul phorm have there own page as well documenting there history http://en.wikipedia.org/wiki/Phorm the forth paragraph shows how they have tried to cover up / change entries they did not like you will also find information you will not find from the phorm website or press office bear in mind phorm have not been able to get any of the information removed as it is all backed up with sources and verified Lots of public information there for you to see if there are any patterns DYOR and draw your own conclusions
From another site The Phorm excuses glossary...‎ hTTp://www.phorm.com/sites/default/files/2012.06.29%20RNS-Phorm%20YE2011%20Results.pdf 29 Jun 2012 ... Much slower than anticipated ramping in Brazil, but expected to improve in 2012 once user numbers grow. • Equity placing in November 2011 hTTp://www.phorm.com/sites/default/files/Phorm%20Inc%20YE2011%20Results.pdf ‎28 Jun 2012 ... Nevertheless despite the slower speed the commercial results in terms of advertising pricing and performance have been excellent hTTp://www.phorm.com/sites/default/files/13.06.28%20Annual%20report%20YE%202012%20(FOR%20RELEASE)_0.pdf ‎28 Jun 2013 ... fact that revenues have not grown as rapidly as originally expected due to slower than expected user growth in Brazil and the delays hTTp://www.phorm.com/sites/default/files/2010_Financial_Statements.pdf 31 Dec 2010 ... Operational performance 2010 and 2011 to date has seen Phorm achieve substantial results, although progress has been slower than we had. hTTp://www.phorm.com/sites/default/files/2012.06.29%20RNS-Phorm%20YE2011%20Results.pdf 29 Jun 2012 ... disappointment, we saw our dependency on the slow pace in that country ... We expect a substantial increase in the pace hTTp://www.phorm.com/sites/default/files/2010_Financial_Statements.pdf 31 Dec 2010 ... believing that the pace will accelerate in the months to come.
Begging bowl must be doing the rounds with the level of ramping on other sites Sp will rise as people try to make out phorm has found a way to become profitable (cough) DYOR Jam will be promised tomorrow as it has been with uk, Romania, Korea, brazil,Turkey etc but none has ever been delivered in significant quantities and not enough in a year to cover even a quarter of a single months cash burn Look back at all the full year reports even when phorm was called 121media it has never made a profit, fsecure classified its apropos product as a root kit, shortly after 121media became phorm, coincidence? Could phorm have been trying to bury the link with apropos rootkit ? No one but the CEO would know for sure You could also look at the public records of the CEO's previous businesses and see if there is any history of profit or failure and draw you own conclusions Try looking up the ceo in wikipedia http://en.wikipedia.org/wiki/Kent_Ertugrul phorm have there own page as well documenting there history http://en.wikipedia.org/wiki/Phorm the forth paragraph shows how they have tried to cover up / change entries they did not like Lots of public information there
In this company spends more than their revenue...directors getting more wages to just issuing share, the infrastructure might be good as well too risky to regulated, any time they could face by law,half yearly report is good but the sp doesnt react...they just create the illusion..but they never ready to say their strong profit...all about my opinion might be wrong ...just I said what I feel...last November I bought this one there is no value on my money. ..thanks
Professional Hallucinators? Hmm. Let's be a bit more factual. Historically Phorm was always lacking a critical mass of users. Now it has peak daily users of > 70m (anyone took notice?) and growing. Just to compare: Facebook has around 900m users per day. Phorm's average revenue per user per month is still very low, but this is not surprising due to the ramp up phase and large initial discounts / free trials. If Facebooks can make around USD 0.7 per user per month on advertising, why should Phorm not be able to make 1/10th of this with similar conversion rates? I think Michael Bigger's estimate might not be too far off the charts (implicitly assuming around 2 to 4 cents / user / month down the road): http://biggercapital.squarespace.com/biggercapital-investment/2014/10/8/why-we-bought-about-15-million-shares-of-phorm-in-one-image.html Let's assume Phorm can only make 1/10th of FB's advertising revenues per user. Then it should - just looking at revenues and ignoring other aspects - be valued around USD 20 per user (FB's market cap is USD 200 bln with around 900m users -> USD 222 per user). Currently Phorm's valuation is around USD 1,5 per user (GBP 70m / 73,5m users x 1,6 USDGBP). So why exactly is a user to FB worth around 150 times more than to Phorm? Because FB makes more revenues per user? Yes, but it won't be 150 times more. Because FB has a different business model? Sure, but what ultimately counts are profits and advertising is the - by far - the biggest source of income for FB. Because FB has less regulatory risk? Probably, but it is hard to see why the ISPs should provide all the infrastructure and will never want to get anything of the advertising pie. With growing user base, Phorm will be a totally different story than what it used to be. To me this stock is as close to a free call option as it can possibly get. Valuation should be 10 times of what it is now. We will see who is right over the next 12 months or so... Laura Jones
Professional Hallucinators Raise Money.........always.....change the code as wfdk...
what also get more depressing is the revenue per advert served h1 2013 100m adverts served $28500 revenue 28500 / 100000000 = $0.000285 (or 0.0285 cents) per advert served h2 2013 800m adverts served $251300 revenue 251300 / 800000000 = $0.000314 (or 0.0314 cents) per advert served h1 2014 2600m adverts served $528000 revenue 528000 / 2600000000 = $0.000203 (or 0.0203 cents) per advert served q3 2014 3300m adverts served $474000 revenue 474000 / 3300000000 = $0.000144 (or 0.0144 cents) per advert served so it appears they are having to discount their rates to get campaigns so both income per user and income per advert are both in decline if you analyse the figures not exactly the results you would expect a company who are supposed to be heading for profit with a unique highly targeted advertising system with better than average conversion rates than normal? their income per user is falling, their income per advert is falling so where is this growth and positive results phorm seem to imply in their operational update? as ever it is what they do not say that is of more interest as you can see from my posts today
i can see although they have increased their user base they are completely failing at serving more than 1 advert per user every other day not exactly great, probably a single advert on the interstatial page i also notice they are only converting 4.2% of advert requests into adverts served? very poor performance another interesting view income per user per month, in the BT trial phorm claim to b able to generate $1 per customer per month h1 2013 800000 users / month revenue $28500 over 6 months $28500/6 = $4750 per month revenue $4750/800000 (monthly income / monthly users) = $0.0059 or 0.59 cents / user per month h2 2013 14100000 users / month revenue $251300 over 6 months $251300/6 = $41883 per month revenue $41883/14100000 (monthly income / monthly users) = $0.00297 or 0.297 cents / user per month h1 2014 37800000 users / month revenue $528800 over 6 months $528800/6 = $88133 per month revenue $88133/37800000 (monthly income / monthly users) = $0.0023 or 0.23 cents / user per month q3 2014 75300000 users / month revenue $474000 over 3 months $474000/6 = $15800 per month revenue $15800/73500000 (monthly income / monthly users) = $0.00.21 or 0.21 cents / user per month so income per user per month is well down on the claimed income of $1/user/month when they started with BT and the income per user per month continues to fall
lets look at the figures in detail h1 2013 .8m daily users 100m adverts served over 6 months 100m/180 (180 days in half year) =555000 adverts served per day? and with 800,000 users per day comes to 0.69 adverts served per user per day? seems to suggest only adverts on portal h2 2013 14.1m daily users 800m adverts served over 6 months 800m / 180 = 4.4m adverts served per day with 14.1m users per day that means they served 0.32 adverts per user per day? h1 2014 37.8m users per day 2600m adverts served over 6 months 2600/180 = 14.4 million adverts server per day with 37.8m users per day that means they served 0.38 adverts per user per day served q3 2014 73.5m users per day 3300m adverts served in 3 months 3300/90 =36.7m adverts served per day with 73.5m users per day that means they server 0.49 adverts per user per day so where is the exponential growth there? they were serving more adverts per user in brazil than they are now to "china and elsewhere" not exactly sparkling performance, one advert every other day to each user?, chances are that is just the basic adverts on the opt-out page? assuming they allow users in china to opt-out? phorm are increasing their user base, but completely failing to serve adverts to users
http://www.investegate.co.uk/phorm-corporation--phrm-/rns/operational-update/201410060700094734T/
Risks? The Technology is aging and more major Webside encryption is not conducive to such monitoring! Plus other on going events linked to this type of monitoring, content invasion/altering etc.... such as... http://www.chinadaily.com.cn/china/2014-09/25/content_18659159.htm China targets pop-up windows for spreading harmful information (Xinhua) Updated: 2014-09-25 09:48 Slated to start in the near future, authorities will push operators to edit and supervise the contents of pop-up windows on their websites, a statement issued following the meeting said. A stricter protocol will also be imposed for operators installing pop-ups. They are banned from using the method to advertise without the consent of users and users should be able to close these windows by one click. Operators are also urged not to install "too many" as to avoid souring the users experience. The statement, however, did not define what was "too many".
I agree, sell into any spike - Phorm has always been a good trading share but not one to hold indefinitely considering the real risks. For example, revenue would have to increase way over 100 fold to break even... it's not impossible but a) will take years and b) there will be far more shares in issue by the time it (ever) became profitable..
why pay for something that is on its last legs? every 3 months they go back to the markets for another £10m, very little revenue, huge cash burn, big promises and no delivery make your own mind up
Does anyone think that Alibaba may buy Phorm out now that they have all the money from the IPO
Seen this is slowly but gradually rising since the placemen. Any one has clue on this?
Good to see a nice little move up today, let's hope we get further positive news soon, get that revenue flowing, then can debase the stock 25-30p very quickly.
mr winithrith wading in about mr bigger www.shareprophets.advfn.com/views/7383/poor-form-and-a-bigger-fool-death-postponed seems he cant read, he says "The interims showed that net current assets at June 30th were $2.6 million. The monthly cashburn in H1 was $2.6 million. Do your maths. But last week the company must have been trading pretty close to insolvent. phorms interim report says "During the first 6 months of the year, average monthly cash burn excluding financing activity was $3.6m (2013: $2.6m)" but still more accurate than mr biggers effort at thisisbigger.com/2014/08/22/phorm-investment-thesis/ quotes many thing as "source company" but does not seem to have done any independant research who are these " commercially-driven world-wide smear campaign (Source: Company) A professional group of anti-Phorm campaigners, posing as ‘grass-roots’ campaigners" also "Phorm obtained a Court order against certain protesters", two problems there, it was the CEO not the company that obatained an interim court order? and it was against a single person (note the singular) there are a number of other possible errors as well there is one question that needs asking if these "grass roots" people caused problems for phorm with regulators etc why? surely these regulators did their own investigations after being informed of issues by these campaigners?, if the issues were groundless why did phorm have problems with these regulators etc? were not operating in a fully compliant manner ? or was there other issues
Dave. Yes and HUGE BUYS.
someones offloading in a big way, but strangely the SP has gone up
http://www.businessspectator.com.au/news/2014/8/13/china/chinese-privacy-case-raises-risks-doing-business-country "It's not just that the tactical business practices need to change, it's the mind-set," Mr. Maisog said. Lawyers said the limitations mean executives, often those sitting in foreign countries, will need to rely on less information to make decisions about their China operations. For instance, lawyers said that companies wary of holding certain kinds of data--such as the official Chinese identification documents prosecutors said were found on Mr. Humphrey's computers--are likely to limit background checks to public records. That will be a challenge in a country without household-telephone directories and where 30% of the population shares just five family names; almost 100 million people are named Wang.
Which day?
what another site seems to think of phorms finances? "Phorm Tick Tock Tick Tock – is this week of D-Day? That is D for Death" http://www.shareprophets.advfn.com/views/7099/phorm-tick-tock-tick-tock-is-this-week-of-d-day-that-is-d-for-death
for this one-patience is key....
phorm soon asking for more cash on top, its already 346 m dollors raised by investors,still there is no profit for the investors by this company, its just diluted and raise the money and dump all the way,better we can throw the money in the ocean,not in phorm, concentrate other stocksphorm tried 8 markets so far,usa,uk,korea,romania,brazil,turkey,china and imarker in russia? still no profits.......wtf its massive share dilution over 11 years,wr is d 346m.... its gonna cash call again how the hell the bod expecting our support.......