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invested with an average of 5.6p i found the RNS strange this morning, with some negative wording on:
1) Easter trading 2) EBITDA outlook and 3) 'value' to shareholders
1) I think we all realised after the Easter break a lot more people went away than first thought. did they need to say specifically Easter was bad and not have said the full post results period was as expected when taking into account pre easter.
2) It is still EBITDA positive, which was glossed over with a negative reference. If you used a supermarket multiple would give it a much higher valuation than it is now, and although it needs financing, it's also well positions for Morrisons and perhaps alternative entrant.
3) little to no value to who? old shareholders? new shareholders? each had a different entry point, i can't see this going to zero, as i think Morrisons buy the debt or banks knowing Morrisons want it to survive as it gives value, may support it. Even as someone had said, perhaps a online retailor like amazon wanting retail space quickly.
i think the news was messaged in a v poor way, and kind of think current SH should be a little frustrated with how it was delivered today. Got at least another month to wait for deadline they've now placed , but lets hope they do something soon, as uncertainty never helps anyone.
why is everyone over reacting to the counter argument saying 'were screwed' Hes put forward some good points but also not all appropriate given the other points of view. relax, calm down and let the man who is experianced and understanding of both sides make his decison.
investors since this has all started have lost money. to make the claim SH profit,(yes those in short term, but thats not the fair comparison) if they look at when this started SP was £3, it is now 30P so actually shareholders are 90% down, in line with what redress claims will get.
philipc240 i agree, i dont understand fully how Dish have gone from wanting to be an investment business to our first venture we are now chanigng name and direction 100%. Why hasnt this been set up as a subsidiary. Why arent we utilising the bigdish platform in some way. Has Bidgish liteally just 100% fallen flat. Surely there is some value in the tech/brand/connections to sell/share with someone else . Dont understand the structure of this at all. Where is the venture bulilder model going to come from in this?
My balance is still showing unable to trade with old pcge ticker. Should IG have converted something as part of the reverse takeover ? Lost all hope and just gave up on these
I like figtrees comments and with the different positioning Dish have exercised over the last 12 months, it does give some strength that they aren’t risk adverse to trying something, whether that’s fintech/blockchain which is the flavour of the month atm.
Dish had great ideas but has been unable to execute, that being said thought, it’s shown through the BigDish app what the company could do, which with the right direction and leadership could be great news.
Dish isn’t just a food delivery app and I think potentially the tech could be used for other means.
Hopefully the decisions on structure, funding and management don’t burn the shareholders at present and give those that have held for a while, a decent return.
Market updates have been left wanting by shareholders recently and seems management have been kicking the can. Fingers crossed what’s to be given in the Jan update (per guarantee in the last RNS) will be positive and welcomed.
Fingers and everything else crossed.
Movement last few days may potential suggest some collabs in the mist. Fingers crossed we get some good news. It’s been a while since we last heard the phase ‘big dish are pleased to announce’. It’s always been a big risk play, it could go anywhere from 2-6p on news and depending on people’s appetite. Given the market it’s been a poor performer so maybe a spike in SP could masterialise soon!
all the above based v loosely on my thoughts only
the update a few weeks ago wasn't clear if they were continuing with dish or just moving completely to this new model of just giving out the tech for equity stakes. I don't understand why they issued that news when they did, if they weren't then going to release any collaborations they mentioned recently after.
I would have thought theyd continue with the app, grow it and if its not part of the future plans sell it for some money. They have done the hard work creating the brand, a product and getting sign ups, so why just dismantle it all now, would be strange if they do... sounds as if DIsh has gone a bit quiet?
i have a bit invested (not worth what i paid for), but im in the mindset now that i i was to jump ship and it would take off, id be more annoyed than if i lost a bit more.. not rationale i know,.
I do think there is still a chance of some good news flow, which could rocket the SP up. you buy a lottery ticket in the hope of winning, dish is my lottery ticket (just hope theres better odds!) ha
There was never any need for a uturn in the first place - blaming COVID for going back and forth is nonsense, lazy and pretty pathetic.
Yield management was a great idea at the time, but they got lazy themselves and furloughed everyone. Nearly every tech company profiteered from COVID- dish got dizzy.
I’ll sell when I’m good and ready thanks, just giving my thoughts, good or bad!
Why provide an update on the strategic direction to then go radio silent for the next week. Why didn't they just provide the update when DISH actually signed those contracts they mentioned in the RNS. The communication was pointless and added further uncertainty to the DISH story being told so far.
1 - Update on the actual app
2 - Update on the strategic direction with what has meant they've taken the large U turn into how they are going to operate.
Must have been a big push from the VC, but come on.. what is going on.
Bigbaddaz, the market doesn’t like it as the SP has dropped 25% since the news? that’s clear accurate and is facts.
I agree ‘reading between the lines’ offers some lifelines, but we’re making assumptions when the board and RNS should be clearer as that’s the communication between company and shareholders + market.
I agree the new company and the timing of the previous RNS about funding, the investment company, would have known about the potential path the company was going into.
Clearer messages are needed into what this means for the big dish app and what attention it’s getting as that’s where the attention has been for years now, and still has huge value on the current SP
Tom is quiet as a CEO, but I’m not too bothered so long as messages from the board are clear, which at the moment they aren’t, so think it’s fair to raise questions.
Again I will say, I like the idea of what’s been created here, it offers new value, but want to understand how that plays out with what BigDish has created so far!
They are still posting that Pizza Hut is on their app which customers can book tables through.
News a few days ago was just offering a new path, showing it’s tech enablement. They could sell the BigDish brand and platform to another provider, selling it for some good £ given the barriers to entry entering the market. dish have already established good relationships and reduced a lot of time for someone else to enter.
I do think the concept of selling the tech for equity stake is good idea, reduces cost and opens up new potential which may not have been recognised before. The market isn’t 100% behind it but maybe news of some agreements may show its potential value proposition.
I think Dish have given themselves the full week to give the best possible update of the situation. Why announce something to then only the next day have gained news which would have added to the story being told. Fingers crossed a good update is given, a lot of possible situations to comment on. A lot of upside potential here If they release things being mentioned in this chat so far today!
I’m hoping for info on... the technicals of the app, delivery-2-go locations, uptake from restaurants With numbers, strategic update on how that impacts next few months. Maybe We won’t get all, but maybe a couple which gives some real value to what the future brings.
Tanya/bob why are you making up numbers here
‘If dish need 1,000 restaurants for the 5mil then we’re on to a winner’ Never have BigDish put any number on what requires the 5mil so why throw out comments like that. It just adds to the uncertainty, adds false and fake expectation on what’s required from them.
i've commented and been quite negative of Dish with the speed to which they do things.
Given the SaaS takes full effect in Jan-21, it is allowing Dish time to develop and make a start on the delivery-2-go which if 200 restaurants have/will sign up at this stage this is only positive news, by year end others will see its benefits and pay for that. (risk it doesn't work, but the benefits to restaurants are huge, so execution is critical)
I have been frustrated with the time taken to get to this stage, missing some competitive advantage, but i feel as if the process take longer than we give the management team credit for. The big players aren't going to change their tune anytime soon, so bigdish can slowly build up its catalogue.
From having 400 restaurants giving minimal 50p bookings 9 months ago (valuation c5-6p) to the potential of a 200+ trialling the SaaS model, the SP is very low with a 6mil valuation. If Dish produce some good news (they're already have funding and capital to last a while, so risk here is reduced) then this could push dish back to the 30mil-40mil valuation if the concept is approved and liked by its triallist on a bigger scale.
Valuations in this space are based on growth potential. The SaaS model and the hospitality industry give Dish a great market to propel its growth and potential to far exceed its currently valuation.