Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
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Get in these have turned the corner.
Looks like lots have missed these Rns.
Don't forget, phorm are at an all time low now At this price the dilution to raise another £6m - £8m is eye watering Just to pay the boards emoluments for another couple of months The name change from phorm to phluid media will not fool many Just remember "you can fool some of the people all the time, all of the people some of the time, but not all of the people all of the time" #thephormeffect = #thephluideffect = #theeffluenteffect
Still no mention of who their US (Phuid Media) and Russian (iMarker) operating companies are.
I sold out here approx 6 months ago (luckily) but do still keep an eye on it. Looks like the new guy has pretty much been brought in to help arrange the next placing, hence the drop in SP. Thats what it looks like to me anyway
New non ex director so maybe funding will be there. http://www.phorm.com/?wpdmdl=189
This is sadly going down the pot, spread lowering on buying pressure is always a very bad sign
Shocking stuff, No point Bargain hunters looking here, I guess most have got out already judging by the lack of posts.
anyone know whats happened? placing was at 8p not long ago...
More importantly, between 2003 and June 2014, Phorm raised $265.2 million through share issues. This figure is taken from the cash flow statements in the relevant accounts. Taking an exchange rate of $1.58 to the pound this equates to £168 million. Since the end of June 2014, a further £21.1 million has been raised. Although the latest fundraising of £6 million was done at 8p a share, which is double the 4p a share at which £5.2 million was raised in April 2013, it is still a lower price than the other four fundraisings since last June, which range from 9p a share to 11p a share, and much lower than the 170p placing price in 2010. Go back another couple of years and the placing price was 450p. At 5.125p a share, Phorm is valued at £43.2 million, which is less than one-quarter of the money raised in fewer than thirteen years. It is also barely twice the amount of money raised in less than 12 months. Back in July 2010, when Phorm raised £2 million at 170p a share, the number of shares increased to 18.48 million. Five years later, there are 843.8 million shares in issue. This indicates the enormous dilution of long-term shareholders in the company, particularly as the cash raisings have been via placings where not all existing shareholders would have been able to participate. Given the share price performance, that is probably a good thing.
It is always disappointing when a company that appears to have a potentially good business cannot raise cash to keep going, but it is even more bemusing when companies which have never shown much sign of achieving success can continually tap the market for millions of pounds despite being money pits. Two examples of the latter are internet personalisation technology provider Phorm Corporation (PHRM) and digital TV technology company Motive Television (MTV). They have tapped investors for money on a regular basis, at reducing share prices, and are valued at less than the money they have raised. When it comes to pharma and cutting edge technology developers it is understandable that it can take years and years - and many ups and downs - to develop a product. At times, persuading customers to buy a product can be a long process. However, in other cases there seem to be companies which are never quite in the right place at the right time. So, even if there is demand for a product or service it never warrants the millions poured into its development. Phorm Singapore-based Phorm is beginning to grow its revenues, but from a very low base, and moving into new markets will help to accelerate growth. Customers include internet service providers, which can generate revenues from their data, while web publishers can generate more income from their advertising space. Advertisers can be provided with more cost-effective advertising opportunities. Phorm is involved in an enormous online advertising market, but revenues were still modest at $1.58 million in 2014 and that is a significant improvement on previous years. However, this is a fraction of the bloated cost base, which is being reduced, but even quadrupled revenues would barely cover R&D spending, which has been running at around $6 million-$7 million a year. This is why cash flows out of the company so rapidly. Phorm has moved into the US market so there is scope for rapid growth, but it is difficult to see the company reaching breakeven for a few years. That means that it will continue to require cash from investors. Between 2004 and 2013, Phorm generated total revenues of just over $11 million, although this includes four years with no revenues. However, total directors' remuneration over the same period was nearly $11.8 million. Phorm boss Kent Ertugrul received just over half of that, although it is difficult to be exact because in 2008 he was not the highest paid director due to a former director receiving a large pay off. Even excluding 2008, Kent Ertugrul earned $5.74 million and the 2008 payment is likely to take him over $6 million - he was paid $0.63 million in 2007 and $0.74 million in 2009.
I see #ThePhormEffect seems to be having an effect on #ThePhluidEffect Or should it be #TheEffluentEffect ? As it all goes down the pan?
#thePhluidEffect so with the relationship of fluidmedia.net to fideo.com and both being hosted on phorm server IP addresses i think it's think it is fair to say fideo.com = phorm.com = phluidmedia.net it is likely given the wording of the last operational update RNS that phluidmedia is phorms trading name in the US and PhluidMedia will be using phorms systems for harvesting user information etc i suspect this will bring phluid media straight into the spotlight of regulators etc due to the history of phorm , nebuad etc due to of DPI for interception of user data in ISP core networks it used to be the #ThePhormEffect now it appearss to be #thePhluidEffect
if you do a bit of digging after coming across the name of fluidmedia elsewhere phluidmedia.net redirects to phluid media.com/privacy phluidmedia.net uses the same IP in phorms US datacentre range as fideo.com 173.240.4.231 A FIDEO.COM, PHLUIDMEDIA.NET and the phluidmedia domain names all registered mid april and if you look at the contatact page it is a regus serviced office in new york :) do they have a new office cat to feed? so looks like they are part of phorm, and likely the name for the US operation this is all publically available information, just doing my own research and sharing it,
Well there WAS a dead cat bounce - for approx. 1 minute!
Somehow I doubt it. "Latest Exchange Rates: 1 Russian Rouble = 0.0186400 United States Dollar"
..just before the 100001th ("joke") fund raising imo... dead cat bounce possible though....
http://itsecurity.co.uk/2015/03/uk-court-of-appeal-issues-game-changing-judgment-in-google-safari-case/ The meaning of damage in section 13 of the DPA, in particular, whether there can be a claim for compensation without pecuniary loss The discussion and decision on this point of the case is without doubt some of the most significant interpretation of law with regards to data protection and privacy that we have ever seen in the UK. Google argued that under the Data Protection Act there was no support for damages as a result of distress (except for some very special circumstances explicitly mentioned in the Act) and that because the plaintiffs had suffered no material damage and did not meet the requirements of the special circumstances for distress that there was no merit in the case and therefore it should be dismissed. However, the Court of Appeal not only disagreed, but rewrote UK law on the grounds that the Data Protection Act was not compatible with the Data Protection Directive (95/46/EU): We cannot, therefore, interpret section 13(2) compatibly with article 23. They went on to explain that despite the fact that Parliament had made very explicit reasons for the types of damage that were covered – they had provided no reasoning for the exclusion of general distress or “moral damage” and as such the Court had no choice than to take the position that the DPA was not compatible and that a judgment must be made in line with Article 23 of Directive 95/46/EC with support from Article 47 of the EU Charter of Fundamental Rights. The significance of this decision can not be overstated. As a privacy advocate, one of the biggest hurdles I have been faced with when filing complaints with the Information Commissioner’s Office (ICO) in the UK has been that of damage. In every single case I have filed with the relevant authorities in the UK the decision to take no action has always hinged on the argument that there was no damage. In cases I have filed with ICO (Google’s WiFi scandal, Phorm and many others) they have always used this argument of damage – the same with the Crown Prosecution Service (CPS) over a criminal complaint I filed against Phorm for criminal breaches of Regulation of Investigatory Powers Act (RIPA) – again the CPS argued it would not be in the public interest to pursue a prosecution because there was no “damage”. With this decision from the Court of Appeal, we now have a precedent that states simply that a misuse of private information is in and of itself a damage – and this is what I have been arguing for nearly a decade. The mere act of abuse of a fundamental right is a damage because whether or not there is any material loss fundamental rights are an essential foundation of our society and any attack on those rights, damages society at a core level.
so a bit of ananlysis adverts served per user per day H1 2014 = 0.38 Q3 2014 (from oct update) = 0.49 H2 2014 = 0.23 % adverts requested served H1 2014 = 3.57% Q3 2014 (from oct update) = 4.21% H2 2014 = 3.11% Revenue per advert served H1 2014 = 0.020 cents Q3 2014 (from oct update) = 0.014 cents H2 2014 = 0.017 cents Revenue per user per month H1 2014 = 0.023 cents Q3 2014 (from oct update) = 0.021 cents H2 2014 = 0.012 cents I can provide the calculations if people require them the figures speak for themselves, not good reading and it could explain why phorm did not release the revenue or adverts served / impressions figures in december question is do we now see an RNS monday about fund raising? if we don't see it by mid week i would have to wonder if it will appear
*** and **** highlighted for "needs clarification" Implications? Note: * Revenues are unaudited. The exchange rate used for H2 2014 is GBP0.614:USD1.000 ***and the above figure includes amounts yet to be invoiced.*** The Company is also undertaking a major cost reduction programme that will result in a prioritisation of those markets where commercial traction is being achieved. ***As a result, the Company will be scaling back its operations in Turkey significantly*** and ****moving towards a remote cookie based platform.**** No mention of China??
Yes Phorm can be a good day trading share and probably will go up 20% plus today. The only trouble is that the company is still some way off making a profit so the question is "how many more equity raisings will be required over the next 2-3 years before/if this happens?"
Reporting better than expected revenue from update in the 8th dec. new product and new market... Should give a nice profit for day traders in my opinion..today
so in the last week the mid has dropped steadilly from 10.75 to 9.75 about 9% drop still no sign of new cash or a share issue time is running short for phorm to raise cash or provide good news in the form of impressive revenue to try and get interest in any possible share issue moving the fact there has been no revenue figures and reportedly on another forum (though not proved and no evidence provided to back up the claim) lack of interest in a share issue is interesting, i would assume anyone who would be interest in or offered the option to partake would have to be appraised of certain information relevant information on which to make a decision to partake in a share issue if and i say IF a share issue has been offered around and no uptake has occurred it could be seen as an indication of how bad the prospects are for phorm and its finances but it is a long time after the predicted running out of cash based on the last cash burn and cash in the bank from phorm there are a number of possible answers 1:- phorm have generated more revenue than anticipated (if this was the case we would have heard about it by rns so i don't think it likely) 2:- cash burn has been reduced and cash has lasted longer than expected (possible but again i think unlikely) 3:- some independant injection of cash rather than a share issue (unlikely not sure if possible without some form of notification) 4:- the cash call / share issue has not yet taken place (possible but no evidence to confirm or deny) 5:- the cash call / share issue has been attempted and failed (possible but no evidence to confirm or deny) so most likey are the last two but no evidence to support either, as normal only time will tell. we have the rampers on the other forum who would have us believe option 4 is correct but they have a history of mis-information we also have a new poster on the same thread on the other forum who has made the unsubstantiated claims that phorm have attempted and failed to raise cash, they have no history for me to judge them for or against. the only information presented that could be verified has been that which is available to anyone with level 2 access so apart from the current SP slide there is no real evidence regarding a share issue but it is likely cash is at a criticle level based on the last figures provided by phorm, and up to now those predicitions based on phorms figures appear to have been accurate to a week or so so what information do we have still not granted patents, still not enough revenue in a year to cover a single months cash burn even the optimistic predictions of mr bigger show phorm will still need regular cash transfusions to keep it alive for 18-24 months before it "MAY" be possible to support its self but how much more cash is that going to take? £40m-£50m and that is a ball park figure based on current cash burn rates and a linear increase in revenue as per mr biggers pre
comments on another forum seems to suggest phorm are not finding any takers for the latest round of funding / share issues to quote "it don't look like no one is coming forward from the book build, looks as if they may have to lower the price again or there will be trouble ahead" and later "it looks as if the fat woman is singing here, sold mine today, best to move out of this, don't want to get caught out on a suspension and lose it all" anyone have any other information?