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All looks good now for Satago,Oxygen and Playstack ,that was a nice surprize this morning.
What I fail to undertstand is this flurry of sales today ,if there are any sellers out there please could they give the reason for offloading?
Figures I believe at the end of March which should reveal more.
Impressed, one hour!
Whilst the losses are still massive i think they made a small EBITDA surplus in H2 as the loss in H1 was £3.8m and they have just reported a EBITDA full year loss of £3m.
Cash still seems to be burnt far too quickly. At end of H1 they had c£5m , in July they raised over £8m in a placing at 65p and later sold Vertus, although not sure if this money has been received yet.
They are now saying c£9m cash although a % of this is restricted. They burnt through c£5m in H1 and it appears maybe £4m in H2.
Nice to see Gresham increasing their stake. Maybe time to get back in here.
Since the fundraise at 65p and the SP at c70p this has drifted steadily lower over the last few months. now less than 50p.
Things do seem to be steadily improving however we need to see a profit. Thus far losses are still quite high
In the next few days I believe
Shouldn't there be interim results out about now?
… and now, exciting news from Playstack!
As i said back in Jan it looked likely TRU would need further funding and here it is.
On the positive a raise at 65p , only a few % off the current SP, is very good especially in the current climate.
My main concern is whether £8m is enough.
The cashburn has been quite high over the last couple of years and i suspect Playstack will need a fair bit more.
Oxygen and Satago seem really good businesses but are clearly not currently generating enough revenue to cover other costs across the business.
Was on linked in. Couldn't link on phone. Tried to refind and seems removed. Was a post saying first full transaction on lloyds but had thought they were already live post trial. Hopefully next trading update will shed more light.
Nathan Hi,
Where did you find that info?
First customer live on satago via Lloyd's
Good to see Playstack had a nomination in the Debut Game category with "The case of the golden idol " in last nights Gaming Baftas in London
Shame we didn't win.
I'm still very positive and holding
Looking forward to more good news
Hi,
I guess they must have bought off book from another institution hence the large unknown trades recently ?
Think we are due some financial updates this month , would be good if Satago could sign up another big one .
I'm holding
Gresham house increased their holding. Holding over 12% now. ATB
i do think Tru is undervalued, however, a paid for broker target should always be taken with caution.
I think the big question is whether it can get to EBITDA positivity with the current cash in bank. Based on today's update it is a big if, and this will be a drag on the SP until we have more clarity.
Topped up early this morning with a near double of my existing holding when my limit order to buy was triggered at 2.5% below my set price. Very happy. Could trade as that large buy is now well in profit but I'm a LTH so won't.
As regards fair value, have a listen here:
https://www.youtube.com/watch?v=2l1ZSR2KOP4&t=2220s
A bit like the H1 update i'm a little underwhelmed. All areas are growing but quite slowly and total net revenues are less than staff costs, and that's before including operating expenses, hence the big loss.
Another £8m loss whilst the BOD take big salaries including bonuses whilst the SP goes down leaves a bad taste.
Cash must be managed going forward. At H1 it was £12.9m (after a placing and the £5m for Lloyds) and in the RNS it stated it was £10.6m on 31/8. We cannot continue burning c500k plus a month. Hopefully, things have improved in H2 as revenues have risen, especially in Satago. Hopefully YE cash is at least £8m.
On the positive Satago is now nearly live at lloyds and also Sage, so these should be big earners in the years to come. Do not under estimate the value of having 2 FTSE 100 companies onboard.
Oxygen continues growing steadily and is in a niche market with limit competition. Only last month a £26m big was rejected.
With the current market cap of £57m i suspect the combined value of Satago and Oxygen is significantly above this figure - maybe £50m each?
Some monster trades sneaked in today roughly 600k pounds worth an not moved the share price an inch?? Must be buys as surely they'd crash the price otherwise!!
Hopefully satago is about to go fully live with Lloyds an sage!! Interesting times lay ahead
I'm a LTH (2yrs!) or LTL (Long time loser)! Everyday recently I've checked out the trades and they're always red - I know this site can print sell when its a buy but the prices struck suggest its been sell sell sell ... Today I just looked and I have to pick myself up as there is a 150,000 blue buy - please let this be real.. not moved yet but maybe this could give it a boost .. however small .. It would set me up for the weekend..
The chart looks dreadful. Not huge volume, so that's a positive. Just cannot see a support level until 20's if this closes below 60.
imho last weeks H1 was a little underwhelming.
Whilst all 4 divisions are growing total revenue is still only c£6m and the loss was almost £5m. I can't see Tru turning a profit for quite a while. Oxygen seems a solid business and is EBITDA positive and maybe now the Lloyds deal is sort Satago's revenues will start growing quickly. However, for a c£70m business IMHO this is not cheap.
Playstack is either the division that will take off or will continue being a drag on costs.
Good find Chazzy ,
Really can't understand why they didn't announce this deal either ?
Any thoughts out there ?
Also we still don't know "the household name " that Playstack are involved with ,any ideas?
https://pressat.co.uk/releases/satago-and-visa-partner-to-offer-visa-business-card-users-discounted-access-to-the-satago-platform-3b593989c2910c075df9a083b1819552/
Don't know why this wasn't RNSd. Another great deal for Satago in addition to Lloyds and Sage already.