Member Info for ART123

Final sentence:

" The Company will also consider a change of name as the Venture Builder model progresses. "

that virtually says that they are going to close the restaurant side of this business. Big Dish will be Big Dish no more with no more restaurants whether they are going to eat in or out.

Sounds like they are going to let all of the staff go too - including Tom - and just keep a minimum of tech guys in Manilla.

I thought the change to SaaS model was a bad idea and this latest updater is even worse.

Aidan Bishop to step down. - that is virtually the end for this business as we know it, and will very little of substance to replace it.

I have witnesses several other companies where the founder (and major shareholder) director(s) has stepped down for various reasons and it is always a total disaster - particularly for the share price.

That's 3 of the original 4 directors going or gone and only the accountant still on board.

I think the trouble has been that with Aidan Bishop stuck in Manilla and unable to get to the UK without a 14 day quarantine in both directions he has been unable to secure any funding. Now they are completely broke and in a mess.

With multiple restaurant closures across the country imminent this will make it even worse.

I would probably expect the company, under new management, to close the restaurant eat in/out business completely. Any new management will see it as unprofitable and a waste of time and money.

I would expect the m/cap to fall to about £1 Million or less as this goes on as they cannot convert equity stakes into cash.

I repeat that - I would expect the restaurant eat in/out side to close completely - it has always been a failed business anyway.

I think the posters here today have missed the point - except Bob Fisher who appears to have disappeared.

Aidan Bishop to step down from the board. The founding director to leave.

What's good about that news?

It's a bloody disaster for the share holders.

It reminds me of "One Man and His Dog" - starring shepherd Bob Beebopalula................

The very worst posters on these boards ramp a total dog of a share for months on end and then when the penny eventually drops that they are flogging a dead horse they up sticks and disappear overnight, only to take on a new and usually very witty user name and start it up all over again.

Beebopalula was always phoning the restaurants finding out how much they were "loving" the Big Dish App.

Yawn, yawn, yawn............................................................

Coronavirus: New restrictions for England likely on Monday.

The government is likely to tighten coronavirus restrictions for parts of England on Monday - including the possibility of closing pubs and restaurants, the BBC understands.

https://www.bbc.co.uk/news/uk-politics-54457377

https://www.bbc.co.uk/news/uk-scotland-54449573

I think the confusion is because Justin (Joost) Boer is not a director. He stopped being a director as of 30th January 2019 but he still has his 39,000,000 virtually free shares.

See this - n/a means nil

https://www.sharesmagazine.co.uk/shares/share/DISH/director-deals

No, Jonathon Morley Kirk does not own any shares in Big Dish. Joost Boer or Justin Boer is the person who owns 39,000,000 shares which this website has wrongly assigned to JMK.

Copied from IPO Prospectus Page 193

10 Directors’ and Proposed Directors’ and Other Interests
10.1 Save as disclosed paragraphs 10.1, none of the Directors and Proposed Directors nor any member of their immediate families has or will have on or following Admission any interests (beneficial or non-beneficial) in the Ordinary Shares of the Company.
As at the date of this Document Immediately following Admission
Name - Number of Ordinary Shares - Percentage of issued Ordinary Shares - Number of Ordinary Shares - Percentage Enlarged Issued Shares - Options
Aidan Bishop 45,000,000 28.7% 45,000,000 15.9% 16,221,178
Jonathan Morley-Kirk Nil Nil Nil Nil 444,444
Joost Boer 39,000,000 24.9% 39,000,000 13.7% 16,221,178
Simon Perree Nil Nil Nil Nil 444,444
Notes:
Represents 2 Shares held directly by Monza Capital Ventures Ltd, a company which is controlled by Oyster
Trust SARL as trustee of Marco Polo Trust, of which Aidan Bishop is a discretionary beneficiary.

The 444,444 by Morley Kirk's name are Options which he hasn't taken as yet.

Not only out of date but inaccurate.

Jonathon Morley Kirk does not hold any shares in Big Dish. He never has. For the last 2 years he has been allotted shares in lieu or part in lieu of his salary, which is only a very modest £20K per annum.

The person, along with Aidan Bishop, who has a big holding is Justin Boer. He holds the 38 Million shares and not Morley Kirk.

1.425p to sell now.

No revenue for another 3 months; no decision on funding for another 9 months - so there's not a lot to look forward to here.

The App/website is a disaster with all the stupid locations and the complete lack of knowledge of British geography.

Basically no-one is using the App/website in whatever form so the restaurants are never going to pay Big Dish £50 a month for nothing - that is just fantasy land.

Without wasting too much time on this it looks like revenue was about the same - £11,000 for the second 6 months of the trading year for total yearly revenue of £22,000 set against costs of between £1.5M and £2M - so the business is not in any way viable.

I would expect much the same from this crazy new idea too.

Looks like there was £385,000 cash left as of 31st March 2020 - so they had burnt through £1,600,000 in the 9 months since the £2M placing.

Also if that was the cash position 6 months ago then there couldn't have been much left before they secured this loan and this is probably why nothing has been done about the delivery side.

All in all very poor prospects here. Aidan is stuck in the Philippines. If he comes to the UK he will have to do 14 days quarantine and probably the same when he goes back otherwise he would probably have come over and sorted out a placing instead of the loan.

The way it works these days is that these tiny waste of time companies usually stay open burning shareholders cash until such time as the Broker resigns and then when they cannot get a new one they usually delist and disappear. I've seen it many times. I can see it happening here.

ATB

Written confirmation that Big Dish Indonesia, Hong Kong and the Philippines were shut down (without the shareholders even being informed). Someone was arguing recently on here that they were still going - which is the problem you get without proper information.

"The Hong Kong and Indonesian companies have ceased trading and their closure is being finalised with the relevant government authorities. The Philippines company has ceased trading and is being replaced by a Representative Office of the Jersey company."

Also Looloo has been written off as an impairment - nearly £200,000 of shareholders money down the drain.

To be honest I cannot see any reason why the chains - Pizza Hut, Mitchells and Butler, etc - are still on the App/website. They might just as well be gone now the Eat Out scheme has finished.

Big Dish-to-Go and the SaaS model smacks of the over-enthusiasm of the first nationwide roll-out and the Brand Ambassador scheme - both total tosh and soon dumped.

I pointed out that Aberdeen was taken off the App when they went into local lockdown but Aberdeen was never added back on when the local lockdown ended. It is silly mistakes like that which expose the ineptitude of the tech team and why this company will never be a success in the UK or anywhere else while the tech team is still in Manilla.

As for funding, the share price has been as high as 3p recently. There are only 400 million shares in circulation and no-one really worries about dilution at this stage. £2 Million funding at 2p per share was only another 100 million shares for 500 million altogether - many listed companies have between 3 and 5 billion shares in circulation so the dilution was nothing to worry about.

Right now they have no revenue for another 3 months and after that revenue could be very low as I cannot see many restaurants wanting to pay upfront for the possibilities of being sent customers.

The funding decision is now 9 months away.

They also seem to be incapable of getting the delivery side set up - whoever heard of a closed beta trial - what a load of bunkum.

The tech team in Manilla are clueless - particularly about British geography and the App is a total embarrassment.

Also Tom could disappear overnight - besides I don't think he is quite all he is made out to be. He apparently signed 3000 restaurants to Table Now in 6 months but I have been monitoring Table Now ever since he joined here and there have never been anywhere near those numbers on their App/website - in fact as of today there are 158 restaurants on their platform offering discounted meals. 158 is a long way short of 3000. And the Table Now concept still has the customer paying the booking fee and not the restaurants.

All in all, there is no hope here - in my opinion.

I may be back later, or next year, or whenever things improve dramatically.

ATB

I've sold out here now - at a loss. Still, I made a reasonable profit in Jan and Feb this year when the restaurants were being added pre-Covid when they were still a yield management company so I'm not going to complain too much.

To be honest I thought the operational update early July when they announced the change of direction to Big Dish-to-Go and the SaaS model as dreadful and a huge mistake. All they needed to do was plod on with the yield management concept and get their 50p or £1 per diner. If they couldn't make revenue like that, it is because no-one has ever heard of Big Dish and no-one was booking through the App. Unfortunately, if no-one is booking through the App then no restaurants are going to rush to pay Big Dish £50 per month for nothing.

If the management had any sense they would revert back to the yield management fee per diner seated yield management concept and forget all about Big Dish-to-Go and SaaS models.

Anyway back in July I had no holding here (since Feb) and wasn't likely to get involved in the new model. However, I was then conned back in over the Pizza Hut twitter business. What looked to be a huge boost to the number of restaurants on the App (with Mitchells and Butler, TGits Friday, and others) has turned into another damp squib as none of the chains have properly aligned with the App and won't even allow Big Dish to take bookings for them. As for later paying Big Dish £50 a month - you must be joking. I doubt Pizza Hut would even pay £50 per month for the whole chain to be listed.

Also with the set up as it is they could equally delist any day now that the Eat Out scheme has finished.

I had an idea for marketing a long time ago - back in the days when Beebopalula was the main poster here. Old fashioned but very effective.

Try giving out leaflets in every restaurant signed to the platform. Just colour flyers or even cards with a little info about Big Dish and the App/website details. Give them out to the existing restaurant customers who haven't booked through Big Dish and also for them to give to friends. Maybe ask the restaurant staff to hand them to the customers with the bills. Or even have a pile in the doorway. Or even advertise Big Dish on the back of the bill.

Lots of ideas - but they will all need to be done in the UK and not Manilla.