Built Cybernet Share Price (BUC)

Another LOSS.

Smart Buildings has had a dramatic collapse of Revenue from 5.7m to 4.1m over 12-months - they are going backwards at a rate of knots.

The Smart Building and Architecture will BOTH show a deterioration for the ongoing period – this is a major worry.

Despite all 'the talk', recurring revenue still barely covers the cost of the rent, so BUC is still highly exposed to a downturn in the economy.

Profitability remains a distant dream.

$650k sale of shares at 1.5p has reduced shareholder value.

Losses Mounting +

Cash Drying Up +

Large Debts +

Selling Shares to keep afloat!

It sounds like there will be more raises to fund growth and losses but the growth in the softwear side is impressive.

One to watch in a couple of years maybe but to many ifs and buts for now.

Share Sale Failure @ 1.5p

BUC still trying to find some cash by any means.

BUC offered shares at 1.5p, but they were not all picked up - and that looks pretty nasty.

The share price has plummeted back too 1.5p - so somewhat of an own goal for BUC.

Diluting shareholder value.

Large Debt + Little Cash + Loss in 2026 + Uncertain Convertible Loan Note Holder outcome + Share Sale Failure @ 1.5p = Strong Sell for me.

UK economy faces continued stagnation, slow productivity gains, a challenging environment for household disposable incomes and for businesses. The outlook is very poor. 2026-27 total construction output continues to be revised down.

BUC Cash Generation will be under ongoing stress in 2026 and 2027, due to the ongoing loss position.

• For BUC, the remedy for cash generation in the short term is calling on the Convertible Loan Notes to be increased to £2m @ 12% repayable end 2027. BUC will not have the cash to repay the Notes in 2027, so the higher probability is that the Convertible Loan Note Holders might only accept converting the Loan into Ordinary Shares at 1p a share, significantly decreasing the BUC shareholder value. 200m new shares would destroy the BUC share price, but the Note Holders will have BUC over a barrel.

• Selling Parts of the Business – but who would buy any of the assets for cash? A sale significantly decreases the BUC shareholder value.

• Cost Cutting will take time, due to the staff redundancy processes, and will not provide an immediate improvement.

Veretec is the only profitable part of BUC. The added risk to BUC is that the main fee earning Veretec Directors resign, and take their client base with them, and their £500k profit position, into a new company and share that profit between the main fee earners rather than the BUC shareholders. I am not sure why those Veretec Directors have not done so already?

Large Debt + Little Cash + Loss in 2026 + Uncertain Convertible Loan Note Holder outcome = Strong Sell for me.

BUC have £1.1m of debt raised through the issue of 12% Convertible Loan Notes repayable on 31 December 2027, with total borrowings at £1.5m.

How BUC repays £1.1m in 18-months time, considering they are not making any profit is a major risk.

BUC is propped up by these 12% Convertible Loan Notes and they need repaying.

BUC is stumbling along on a large debt that needs to be repaid shortly, has little cash, and is currently in 2026 still running on a loss. There is no means to repay the debt, so BUC are totally exposed to the whims of the Convertible Loan Notes Holders.