Member Info for Barnacle

So looks like Mr Currie is hoovering up the bargain basement shares...

We're delighted to welcome Mindy Daeschner to the Feedback Medical team! 🎉

Mindy is an experienced advisor who has worked with public and private healthcare providers, with roles spanning board director positions in entrepreneurial start-ups to leadership positions with Fortune 500 businesses.

Someone is taking advantage of this bargain share price, mopping up all the sold shares from yesterday. Easy money for some....

Hi ShandyP2,

We'll have to disagree there then, Tennyson have estimated a profit of US$ 5M, and their figures have been pretty accurate so far. With ARR growing about 60% year on year, even if operating costs do increase, it will be at a much slower rate than the increase in Revenue. Brandshield have signed 45 new customers in H1 compared to 53 for the whole of last year, and H2 is historically a stronger period in this regard. All the clues are there....

I can easily see this share 10 bagging in a couple of years, Revenues YE2024 are estimated to be $18M, operating expenses of $11M, will see Brandshied making a healthy profit. If the company were to be re-listed on the Nasdaq, or acquired by a larger competitor, then maybe more.

From the Tennyson Research Report:

ARR to grow 61% per annum over forecast period. We are forecasting that BrandShield will grow its ARR from $3.28 million in Q4/21 to $21.95 million by Q4/24, which represents 61% per annum average growth. This translates into 22% per annum growth in reported revenues, which we expect to grow from £2.62 million to £17.83 million over the forecast period.

Looking at the peer group of global cybersecurity names, we can see that BrandShield compares favourably in terms of expected top-line growth over the forecast period. Looking specifically at 2023E multiples, the peer group trades at 5.0 times revenues, and the lower growth UK benchmark, Avast, trades at 6.2 times. Using a 5 times reported FY23E revenue multiple, this gives an enterprise value for BrandShield of £42.8 million, and allows us to set a 12-month target price of 37p per share

Bid is slowly creeping up on every sell, buy order being filled. At a market cap of £5M, and an ARR of nearly $10M, it's not surprising.............

You would have thought that The London Stock Exchange would get their data correct, surely not that difficult....... Anyway, looking forward to Monday.

Looking at the London Stock Exchange website, there seem to be a huge trade of £200,000 which went through yesterday at a price of £0.99, is this correct, and if so why no change in share price?

We are where we are, the fact is that the share price is currently 50% below the subscription price of 5.68 pence, so if you buy now, and believe in the future growth of the company, then you are pretty much guaranteed a 50% return on your investment.

Hi SP, Full Year Revenues for this year are expected to be $11m, most of their new business being weighted to the 4th quarter, and next year this is expected to increase to $18m, so if marketing and sales costs remain the same, then the company will be in profit in 2024.

7.4 Views of the Independent Directors

The Independent Directors support the Concert Party's stated intentions for the business and its employees. The Independent Directors firmly believe that the Proposals are in the interests of both the Company and its Shareholders. Although the Board is acutely aware that some Shareholders will be concerned about a de-listing from AIM and the consequent reduction in immediate liquidity it sees no prospect in the near to medium term for the Company to achieve a valuation that reflects its actual performance and future potential, demonstrated through sustained growth of ARR and continued penetration of a fast-growing market. BrandShield has been recognised independently as one of the leading players in the Digital Risk Protection sector (Frost and Sullivan Report 2022) and the Independent Directors believe that all its Shareholders will be far more likely to achieve a positive outcome as a de-listed company where it is likely to command higher valuations based on realistic ARR multiples. In short, the Board believes the proposals are significantly more likely to result in a positive outcome for all its stakeholders, including employees and Shareholders. In considering this, the Independent Directors have given due consideration to the assurances relating to the Company, including those given to its employees regarding the implementation of the Proposals.

Https://www.brandshield.com/wp-content/uploads/2021/03/Tennyson-Research-BrandShield-Systems-PLC.pdf

It's worth reading this report which is on the Brandshield Website. They have been pretty accurate with their estimates of ARR and Revenues, and it gives a good perspective on where the company is heading next year.

Taken from the report:

Looking at the peer group of global cybersecurity names, we can see that BrandShield compares favourably in terms of expected top-line growth over the forecast period. Looking specifically at 2023E multiples, the peer group trades at 5.0 times revenues, and the lower growth UK benchmark, Avast, trades at 6.2 times. Using a 5 times reported FY23E revenue

multiple, this gives an enterprise value for BrandShield of £42.8 million, and allows us to set

a 12-month target price of 37p per share.

Https://uk.finance.yahoo.com/news/iamfire-plc-weshop-060000457.html

IamFire plc

AQSE: FIRE

(“FIRE” or the “Company”)

WeShop Update

IamFire plc is pleased to provide an update on progress within its primary portfolio company, WeShop Holdings Limited (“WeShop”).

WeShop Update Highlights

Six-figure equity fundraise at a share price of £4.76 per share, valuing WeShop at c. £130m giving IamFire a see-through holding of £22.5m assuming CLNs outlined below convert to equity.

Sponsorship of SoccerAid for UNICEF resulting in national and international exposure of the WeShop brand, and continued uptake from various creators and influencers which enables viral uptake of the app.

User downloads for the WeShop platform as at 31 May 2023 were over 230,000 up from 43,000 last reported by FIRE on 21 November 2022.

Total purchases through the platform now total over 180,000 with an annualised gross merchandise value (“GMV”) of £33.4m as at the end of May 2023 (over a 3 month average) compared to the last reported figure of £27.9m for March 2023. Total GMV to date is £22.1m through the platform.

The list of retailers affiliated to WeShop continues to grow with recent additions including John Lewis, Argos, Habitat, Sports Direct, TicketMaster, booking.com and Skyscanner. This adds to the existing list of over 1,000 UK retailers.

Richard Griffiths, Chairman of WeShop Holdings Limited said:

“WeShop’s growth continues to impress and over £20m has been spent through the platform. We now enter the next phase of the company’s growth which will be enhanced through digital marketing and national advertising campaigns. Our partnership with SoccerAid for UNICEF 2023 has increased the public profile of the company whilst at the same time supporting an incredibly important cause. The WeShop team continues to work tirelessly to achieve its goal of building the world’s first shoppable social network owned by its community.”

SNAP!

Not sure why more people are not buying at this price. The growth story is still there. Just look at the figures. The market cap is a joke.......... If you strip out the Weshop valuation, the company is valued a practically nothing.

Agree with Jimmy, Brandshield should have an Enterprise value of $40-50M, it's estimated revenue for YE 2024 is nearly $18M which would increase this even more.

Hi nicwe,

I had a chat with HL. From what I understand, if you choose not to sell pre de-listing, then after the de-listing date, your shares would still be held in your account, until you arranged to sell them via a matched bargain facility with a broker such a JP Jenkins. You would then contact HL to transfer them across. I would expect this to be equal or above placing price, depending on when you decide to sell.

I would expect the share price to recover over the next few weeks, as it is well below placing price, so would make sense for long term holders to buy, while below the 5.68p price.

5.68 pence per Ordinary Share is over 25% of current price. Both Sir Terence Leahy and William Currie both subscribing to another $500,000 each.

Well, I was wrong about needing another placing!

Raise $3.32 million (£2.68 million) in a Subscription of 47,137,662 new Ordinary Shares and up to £2.20 million in an Open Offer of up to 38,669,962 new Ordinary Shares, each at 5.68 pence per Ordinary Share (in each case before expenses)

Impressive results, Brandshield does always hit it's financial targets, so the estimated end of year Revenues of $11 million looks very achievable. With revenue growth continuing at such a high rate, and operational costs reducing, who knows, maybe we'll be in profit by year end...

And then there is the added bonus of Brandshield's holding in WeShop, conservatively valued at $3,840,920. All for a Market cap of $7m.