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Cash figure is wrong. Board reported £24m a few weeks back. Cash dropped £4m in the last quarter.
Company is spending big promoting Warhammer. Bought a giant film set style stand at Europe's biggest industry show a few weeks show, just for this one game.
You can pressure them by doing a GDPR request which by law makes them confirm they got your email.
President David Braben's email address is easy to find. I made the obvious guess, including a dot, and searched Google. Up it popped on a Russian Elite Dangerous fan web site. But actually putting here might break some website rule.
Cascudi How did you try to contact the board? The website INVESTORS section has got no email address or contact form. Did you write by post?
Faulks "they must be making some big future releases because 900 staff is just madness otherwise." But the last four big releases were madness. Totally foreseeable underperformance, erased 90% of shareholder value. And the next big release, Warhammer, looks to be more of the same. They should STOP making big releases until they have replaced the mad people who are OKing these releases AND who are still growing the headcoun. If they carry on as now, will in a year run out of cash to make any new product, and game over.
Cascudi, after weeks of breaking the rules by concealing hareholding changes, Frontier on website have now come clean and declared the big sellers. It is the two top institutions, as I predicted. The lack of RNSs is a disgrace and I am minded to file a complaint on this. Meanwhile the shortage of buyers means these sellers' 8% will take about a year to clear their books. The SP has entered a nuclear winter.
Damn right. The big investors would surely be delighted to take 200p per share at this point.
The question is, would Braben? He probably believes the current skyhigh broker valuation, meaning a quarter billion £ loss to him.
Braben has consistently shown the kind of arrogance that holds out until the house is smouldering ash. What he should have done is step up, apologise and promise a recovery plan, but the latest annual report is completely the oppsite.
Teddy100, if you doubt my prediction of sp 250p in two days, then I've got to wonder whether you are aware of the current situation. You can verify the facts for yourself. The two big II shareholders are offloading. That means down down down until they are done.
Yes. Mcap £30m. Think tinyBuild.
> Didn’t you say on the 31st of August that Frontier hasn’t much further to drop?
Not me, chum. That would be a dumb thing to say what with the two biggest II shareholdings unwinding right now, with about 10% of total shares still to go.
PS "thought based on massive drop in share price the financial would be much worse"
The 50% sp drop following the game release last month falls after the fy23 period of these financials. We won't get the financials that are behind that game release until the next trading update.
The £4m cash drop is on top of both the aqusition and the share purchase.
And Note 6 shows on top again will be another £3m for the acquisition by year end plus up to £7.5m on profit share in future periods.
According to this acquisition story, FD bought an couple of dozen unremarkable employee contracts for best part of £1m each, pushing the company to an embarassing full-year loss. There must be more to this than we have been told, and I wager it is something like a humiliating failed Foundry sales guarantee.
There is some cheer in these results. The words of delusional fantasy from CEO, COO and CFO. Cheer because it leaves no doubt these people are unfit for the job so wiil hasten their unevitable replacement hopefully before they destroy even more shareholder value.
Stats show yes slight lift in review score but no lift in sales. Commentary from players https://steamcommunity.com/app/2287220/discussions/0/3819669865028302550/ . The big question is should FD now can the project. I must say it seems F1M 2024 likely could yield little but more losses, humiliation and rep damage.