Member Info for ART123

So does that mean no news this week?

I can see the share price bombing further as we sit around with no news.

Maybe but as this is a public listed company and the Asian side of the business has always been a part of the floated company then they would have had to inform the shareholders. Also they've been missing for weeks now.

I also can't see if Big Dish is up and running in Hong Kong and Jakarta as well as the Phillippines.

Previously they were accessible and on the same platform as BigDish Phillippines but for the last few weeks whenever I change from Manila to Hong Kong or Jakarta it has just come up with "This site cannot be reached". This usually means they don't exist so have they ceased trading or what?.

We need an operational update rather than an update on the management's jet-setting lifestyle - all paid for by the poorly treated shareholders no doubt.

Or maybe he's over here to try and raise some more cash as they have probably burnt through last years placing sitting around doing nothing!!!!!

Hope they've had a good Xmas as they certainly didn't seem too worried about the business over the Xmas/NewYear. That period - the run up to Xmas and the New Year - would normally be considered a prime time to get bums on seats but they just didn't even seem to see it coming at all.

I can't see what his being in the UK has got to do with anything.

Now is a good time to buy this share. SP is very low - at the time of the 2017 and 2018 January trading update the share price was over £2.00 - and this is going to be a big expansion year for all products with Skinny Tan more than doubling its outlets in the High Street.

I can see the share price rising steadily from now through to July when it could be back at previous highs of £3.00/£4.00

"The exclusivity with Superdrug expires in February 2019 and, to enhance growth, the Company has undertaken increased product development work on multiple product extensions for new retail channels expected in FY2019. As announced earlier today, Skinny Tan portfolio will be ranged in 1,250 of Boots' 2,500 stores nationwide. The Skinny Tan range of products will be available online at Boots.com from February 2019 and in stores from March 2019 in time for the commencement for the peak selling season."

I agree. Another little tick up following the 477,000 buy at 2.60p.

Only 3 weeks to the end of January. The important factor at work here is the CLNR must now get a farm-out before the end of January in order to keep the licence.

"Exclusivity Agreement

Following discussions with multiple data room entrants, the Company has signed an exclusivity agreement (the "Agreement") on Licence P2252 with a major international oil and gas company (the "Counterparty"). Exclusivity has been granted to the Counterparty subject to a definitive farm-out agreement being entered by 31 January 2019 and completion by 28 February 2019.

Given the exclusivity arrangement, discussions and negotiations with other potential partners on the P2252 licence have been ended and the P2252 data room closed while the Agreement is in place."

Late again and another missed target as the migration form TablePouncer to BigDish was meant to be completed by January (and I take that as the beginning of January rather than the end).

The beta phase was meant to take one month and yet it is still ongoing after nearly 4 months. All in all a very poor effort from what is proving to be very poor management. As for there being any problems with migrating the 100 or so restaurants from TP to BigD as there are already over 100 restaurants live every day in the Philippines on the BigDish platform then there cannot be many bugs or problems still to sort out. That is just nonsense.

This is just not the time when you have first mover advantage in a country to sit back and take as long as possible to get up and running. I'm afraid that it is a bad sign that the management has no ambition at all. And they are certainly not in any rush to bring out the much needed and overdue operational update.

The share price here does all the talking and it is giving a m/cap company valuation of less than £5M.

Concrete

Just to shut you up as you are annoying a lot of posters here the margins are dictated by risks that are determined by many factors one of which is the m/cap. Lloyds which is the only other share you seem to post on has a m/cap of £37,500M while G4M has a much smaller m/cap of about £50M. Even at it's highest when the shareprice was £8 the m/cap was only about £165M which is far short of the size of the FTSE 100 and 250 companies which are offered at a better margin.

According to the 15th November RNS:

"As announced on 17 September 2018, the Company is confident that there are a potential 6,000 restaurant partners in the UK. The prime focus of Q4 2018 is building a launch pad for growth in the UK in 2019 which will be the prime focus next year. The Company expects to announce in early January its specific targets for the UK business in 2019 including various metric targets."

So an update is due in early January and that's now so the sooner the better for those of us who are still hanging on in here.

I wish this would blast off up by 30% on the day for no apparent reason as other shares are doing at the moment. A re-rate back to 2p is long overdue as the fall from there was not expected or justified. Any old excuse will do. No-one is going to worry.

At first sight they'll certainly need to get a move on to get anywhere near those targets.

But looking at it more closely these targets include the Asian side of the business. They sat 127,000 diners in Bournemouth on the old TablePouncer system and apparently even though there are a lot less restaurants signed to the new system the number of diners is the same if not more. There are normally about 45 - 50 restaurants live in Bournemouth every day and now they have an extra 60/70 outlets on board in the other UK cities plus the 8 in Bath that are already running on BigDish. Plus there are 104 restaurants live today in the Philippines and I don't have any figures for Hong Kong or Jakarta as I don't seem to be able to access their apps but they could be running at the same sort of figures. Even not including those two markets the figures could be 4 x 127000 diners plus if the take up is running at a roughly equivalent number which is halfway to the target with the major expansion still to come.

The important overdue move now is to get the TablePouncer restaurants migrated to the BigDish app as soon as possible. The BigDish app is so much better as it breaks the day down into 30 minute intervals with different discounts at different times of the day but still allows diners to use the app at peak times but for a smaller discount.

A big expansion of products and outlets this year.

Now is a good time to buy as the share price will rise for the results and then it should rise again starting around March through to the full year trading update in July. It's possible that in July the share price could even test the 2017 highs of £4.00 which wasn't sustainable at the time but is now becoming quite feasible.

Some interesting reading for anyone who's still hanging on here:

https://www.hardmanandco.com/research/corporate-research/growth-set-to-gather-pace/

https://www.hardmanandco.com/wp-content/uploads/2018/09/DISH-Growth-set-to-gather-pace-18.09.18.dotx.pdf

Interestingly the valuation pre-aggressive roll-out was £24.5M - £35M ---- which is a share price of between 8.5p and 12p so I'm not sure what's going on/wrong here to end up with a share price at 1.60p and a m/cap of £4.5M.

There is quite a lot of work gone into this report and it covers most aspects of the business.

So just to conclude the original plan announced in September was to commence the beta trial on the Big Dish platform and then after one month to migrate the Bournemouth Table Pouncer restaurants onto the Big Dish platform. There was also a target of adding 60/70 new restaurants during Q4 paving the way for an aggressive roll-out of up to 6000 new restaurants in 2019.

That was going fine but they took on Sanj Naha in October and he seems to have had quite a lot of say in the UK operations including the rebranding of the app and as this was going to take up to two months the previous announced plans were slowed down. There are still a few restaurants on Big Dish on beta and now the Table Pouncer outlets are going to be migrated by January. They have though added an extra 60/70 restaurants during Q4 as originally planned though they are still on the Table Pouncer platform. The aggressive roll-out across the UK should still be in line to start in January 2019 - which is right now.

However the market has deemed progress to be a little slow here and that has been reflected in the share price which has dropped to roughly one-third of the IPO placing price. This is quite a substantial drop and has left a lot of people a bit pissed off. I don't think that anything else has changed and it is just a case of progress being very slow and shareholders have just lost interest.

However as long as the restaurants are all migrated very soon to the Big Dish platform and the aggressive roll-out across the UK gets underway in January then we should be back on target here and this will become a share with a lot of potential upside. Fortunately the market can very easily go the other way and a rapidly expanding business can soon be overvalued and if that happens the potential here could see the shareprice rise by many multiples. After all the m/cap is less than £5M at the moment.

All eyes on the forthcoming update. We need to see the end of the beta phase and the full migration to Big Dish as well as some firm plans and targets for the big roll-out. Anything less than this and I fear the market will punish this further. Let's hope that doesn't happen and the company can get back on target.

Happy New Year to all.

Normally I prefer to wait for the news, especially here where the schedule has already been put back. That's what I'll do here. They've said there'll be an announcement in early January giving the targets for 2019 and that is very soon. If the targets look good I'll increase my holding.

So the UK business is expected to be fully rebranded and TablePouncer will be completely absorbed into BigDish by January, at which point the Company plans to end the beta phase.

And the Company expects to announce in early January its specific targets for the UK business in 2019 including various metric targets.

If this is the aggressive roll out they have promised then I shall definitely buy more. If they are going to fall short again then I expect the shareprice to drop further.

ATB

The timescales seemed to have changed by the time of the 15th November RNS and this seems to have been largely due to the influence of Sanj Naha who was appointed on 1st October:

"Mr Naha has made an immediate positive impact on the Company. At present, both BigDish in beta and TablePouncer are operating. The initial beta phase has produced a variety of operational and technology recommendations, which are currently being implemented.

One of the recommendations was to upgrade the branding for the UK market. Based on feedback it was decided to alter the branding within the UK app. This branding process has started with a change of logo in the UK and will be implemented over the next couple of months.

Sanj Naha has developed a model for growing the UK business on a per territory basis, in accordance with his previous experience in restaurant reservation and yield management applications.

The Company has added a new territory manager to cover the south west and new restaurants are being added to both the TablePouncer and BigDish businesses. The initial focus is to sign up restaurants in Bristol. The UK business is expected to be fully rebranded and TablePouncer will be completely absorbed into BigDish by January, at which point the Company plans to end the beta phase.

As announced on 17 September 2018, the Company is confident that there are a potential 6,000 restaurant partners in the UK. The prime focus of Q4 2018 is building a launch pad for growth in the UK in 2019 which will be the prime focus next year. The Company expects to announce in early January its specific targets for the UK business in 2019 including various metric targets."

Still quoting from the September update:

"Joost Boer, CEO, commented:

In the fourth quarter of 2018 we plan to establish our foothold in the UK and set the stage for rapid and explosive growth around the UK next year. All the indications are that the UK will be our fastest growing and largest market."

That's the plan. Let's hope they get on with just that.

Basically everything is on target except the migration of the Bournemouth restaurants from Table Pouncer to Big Dish and also the 70 new outlets are also on Table Pouncer when they should be on Big Dish. What is the problem that is causing this delay?