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hTtp://www.investegate.co.uk/article.aspx?id=201605131715022561Y Phorm (UK): Constituent Deletion - Changes in FTSE UK Index Series 13 May 2016 Following the continued suspension for Phorm (UK, constituent), please see details of affected indexes and effective dates below: Index - FTSE AIM All-Share Index Effective From Start of Trading - 18 May 2016

Is this finally the end?? If so on less data scraping company, but no doubt 5 more will replace it :(

well unless the SP increases things could get very interesting the dilution required to get the required cash to release the final traunch at the current SP is eye wattering currently i personally can't see a way back, if you look at publically available webstats for the web sites in the phorm estate it is not good news look for stats on phluidmedia.com and .net as ever DYOR carefully and thoroughly

seems from todays RNS that phorm have had a delay in recieving funds from the last subscription in january a result is they have had to take short term money, but no details on the rate or terms other than they have only a few days to "complete the loan conversion" but i also note the warning near the end of the RNS "Shareholders should note that, should the relevant waivers not be forthcoming, to the extent required, and payments are required to be made in cash, the Company may not have access to sufficient funds at the appropriate time to be able to continue operating as a going concern."

So is this little blip the start of the campaign to try and raise the SP before the begging bowl does the rounds If it is then the dilution required to raise even a few million dollars to cover "general working capital" for another month or two is eye watering, not even mentioning the negative balance calculated by felixthecat based on phorm's own figures The next fund raising looks likely to push the number of shares issued well over the 1 billion mark There has been a lack of information on the progress of the new board to reduce cash burn, or it's ability to generate revenue both of which have been the biggest issues after the issues like use off DPI and compliance with local regulations (Brazil,Turkey,Romania anyone?)

so we have had a couple of partnership announcements, a share issue / fund raising in the last month or so and still the SP falls clearly the markets don't appear impressed phluidmedia appear to trying a new hashtag but #thephluidmediaeffect = #thephluideffect = #phorm = #imrk same old company, new directors, same cash burn, same old issues not a lot changes just the hashtag #lipstickonpig

so interesting article about Google appears to be preparing to re-enter the chinese market htTp://europe.chinadaily.com.cn/business/2015-10/15/content_22197222.htm or put "Tech giant readying decks for return to lucrative market" into your favourite search engine that would give phorm china a bit of a problem, especially as "The Internet service provider the google was using belonged to State-owned carrier China Telecom Corp Ltd, according to the Internet protocol addresses of the servers." isn't china telecom the ISP phorm china had an MOU with? oh dear, prospects in china suddenly don't look so good for phorm :)

well missed the reduction of cash burn target by miles missed the revenue forecast by miles no mention of adverts servers no mention of revenue by market no mentio of china? just they will need to raise more cast in the next few weeks new management, but lot less information

i spotted this in another forum Some researchers from Princeton Univertsity have just published this research paper, (modification date of the pdf is 25th july 2015) noise.cs.princeton.edu/papers/2015/konte:sigcomm2015.pdf the first paragraph of the article says "Bulletproof hosting Autonomous Systems (ASes)—malicious AS's fully dedicated to supporting cybercrime which apparently —provide freedom and resources for a cyber-criminal to operate." phorm are included in the table of 41 "malicious AS's they collected from blogs" (see page 8, figure 6) under the table it says " Overall, we collected forty one known malicious ASes. We provide our list of ASes in Figure 6." They even gave Phorms correct AS number - AS48214, this AS network contains a number of phorms wbsites / domains a cut down list below, looks like they could do with some housekeeping OIX.PHORM.COM OPENINTERNETEXCHANGE.NET OIXPRE-LAB.NET BT.PHORM.COM WWW.PHORMLABS.COM STOPPHOULPLAY.COM WWW.YOUCANOPTOUT.COM OIXCRV-LAB.NET NS1.PHORM.COM SSLVPN.PHORM.COM BR.PHORM.COM If you don't like clicking on links you can find the paper by entering "aswatch An AS Reputation System" into your favourite search engine Interesting read I must say Question is why would a supposed reputable company like phorm / phluidmedia end up in a document like that? If it is incorrect no doubt phorm. / phluidmedia will be able to get it updated Will be interesting to see if it is updated or withdrawn but I suspect it was checked by a legal team before being published

the questions Are phorm / phluidmedia think about these questions in the context of NSA and privacy from an american point of view Still using DPI? Going to still use the Russian dev team? Does any of the US operations traffic like opt in/ out or cookie setting use any of phorms infrastructure in Russia or china? Do they honor do not track setting in browsers? Do you still have to maintain an opt out cookie to prevent phorm showing you personalised content? Have they got a proper network level opt-out yet, So many questions so few official answers

From what i have seen over the years, the sp appears to rise ( normally with good news like the promise of a new market) to try and reduce the dilution, then once the cash is in the bank the sp starts to slide again Seen the cycle repeated a number of times The apparently good news this time is departure of two board members, but so far it appears companies house in the UK etc don't seem to have received the same notifications as the markets the last time I looked, but then you have the web on phorm inc, and the branch companies in various countries which appear to have their own directors And what don't seem 100% clear to me is if the directors resigned from just phorm inc. Or all the branch companies as well

i will be interested to see where this goes now kent has been ousted when mr bigger got involved it seemed kents demise was a possibility when you look at his past those of us who have been vocal against phorm will watch and wait to see if the new board resolve any of the issues that have caused phorms issues with regulators in the past will phorm / phluid media be taken private? will it be delisted on AIM and registered on nasdaq? so many options now the board are in the US or could it be fattened up then asset stripped (in true venture capital style)?

Don't forget, phorm are at an all time low now At this price the dilution to raise another £6m - £8m is eye watering Just to pay the boards emoluments for another couple of months The name change from phorm to phluid media will not fool many Just remember "you can fool some of the people all the time, all of the people some of the time, but not all of the people all of the time" #thephormeffect = #thephluideffect = #theeffluenteffect

I see #ThePhormEffect seems to be having an effect on #ThePhluidEffect Or should it be #TheEffluentEffect ? As it all goes down the pan?

#thePhluidEffect so with the relationship of fluidmedia.net to fideo.com and both being hosted on phorm server IP addresses i think it's think it is fair to say fideo.com = phorm.com = phluidmedia.net it is likely given the wording of the last operational update RNS that phluidmedia is phorms trading name in the US and PhluidMedia will be using phorms systems for harvesting user information etc i suspect this will bring phluid media straight into the spotlight of regulators etc due to the history of phorm , nebuad etc due to of DPI for interception of user data in ISP core networks it used to be the #ThePhormEffect now it appearss to be #thePhluidEffect

if you do a bit of digging after coming across the name of fluidmedia elsewhere phluidmedia.net redirects to phluid media.com/privacy phluidmedia.net uses the same IP in phorms US datacentre range as fideo.com 173.240.4.231 A FIDEO.COM, PHLUIDMEDIA.NET and the phluidmedia domain names all registered mid april and if you look at the contatact page it is a regus serviced office in new york :) do they have a new office cat to feed? so looks like they are part of phorm, and likely the name for the US operation this is all publically available information, just doing my own research and sharing it,

so a bit of ananlysis adverts served per user per day H1 2014 = 0.38 Q3 2014 (from oct update) = 0.49 H2 2014 = 0.23 % adverts requested served H1 2014 = 3.57% Q3 2014 (from oct update) = 4.21% H2 2014 = 3.11% Revenue per advert served H1 2014 = 0.020 cents Q3 2014 (from oct update) = 0.014 cents H2 2014 = 0.017 cents Revenue per user per month H1 2014 = 0.023 cents Q3 2014 (from oct update) = 0.021 cents H2 2014 = 0.012 cents I can provide the calculations if people require them the figures speak for themselves, not good reading and it could explain why phorm did not release the revenue or adverts served / impressions figures in december question is do we now see an RNS monday about fund raising? if we don't see it by mid week i would have to wonder if it will appear

so in the last week the mid has dropped steadilly from 10.75 to 9.75 about 9% drop still no sign of new cash or a share issue time is running short for phorm to raise cash or provide good news in the form of impressive revenue to try and get interest in any possible share issue moving the fact there has been no revenue figures and reportedly on another forum (though not proved and no evidence provided to back up the claim) lack of interest in a share issue is interesting, i would assume anyone who would be interest in or offered the option to partake would have to be appraised of certain information relevant information on which to make a decision to partake in a share issue if and i say IF a share issue has been offered around and no uptake has occurred it could be seen as an indication of how bad the prospects are for phorm and its finances but it is a long time after the predicted running out of cash based on the last cash burn and cash in the bank from phorm there are a number of possible answers 1:- phorm have generated more revenue than anticipated (if this was the case we would have heard about it by rns so i don't think it likely) 2:- cash burn has been reduced and cash has lasted longer than expected (possible but again i think unlikely) 3:- some independant injection of cash rather than a share issue (unlikely not sure if possible without some form of notification) 4:- the cash call / share issue has not yet taken place (possible but no evidence to confirm or deny) 5:- the cash call / share issue has been attempted and failed (possible but no evidence to confirm or deny) so most likey are the last two but no evidence to support either, as normal only time will tell. we have the rampers on the other forum who would have us believe option 4 is correct but they have a history of mis-information we also have a new poster on the same thread on the other forum who has made the unsubstantiated claims that phorm have attempted and failed to raise cash, they have no history for me to judge them for or against. the only information presented that could be verified has been that which is available to anyone with level 2 access so apart from the current SP slide there is no real evidence regarding a share issue but it is likely cash is at a criticle level based on the last figures provided by phorm, and up to now those predicitions based on phorms figures appear to have been accurate to a week or so so what information do we have still not granted patents, still not enough revenue in a year to cover a single months cash burn even the optimistic predictions of mr bigger show phorm will still need regular cash transfusions to keep it alive for 18-24 months before it "MAY" be possible to support its self but how much more cash is that going to take? £40m-£50m and that is a ball park figure based on current cash burn rates and a linear increase in revenue as per mr biggers pre

comments on another forum seems to suggest phorm are not finding any takers for the latest round of funding / share issues to quote "it don't look like no one is coming forward from the book build, looks as if they may have to lower the price again or there will be trouble ahead" and later "it looks as if the fat woman is singing here, sold mine today, best to move out of this, don't want to get caught out on a suspension and lose it all" anyone have any other information?

if you are considering buying in have a look at the links below And you want some backgroud / historical information to base a decision on as to whether to invest (if you don't trust links goto wikipedia and look up phorm or kent ertugrul using the search) Look back at all the reports even when phorm was called 121media it has never made a profit, fsecure classified its apropos product as a root kit, shortly after 121media became phorm, coincidence? Could phorm have been trying to bury the link with apropos rootkit ? the links below are public records of the CEO's previous businesses and see if there is any history of profit or failure and draw you own conclusions the CEO's entry in wikipedia http://en.wikipedia.org/wiki/Kent_Ertugrul phorm have there own page as well documenting there history http://en.wikipedia.org/wiki/Phorm the forth paragraph shows how they have tried to cover up / change entries they did not like you will also find information you will not find from the phorm website or press office bear in mind phorm have not been able to get any of the information removed as it is all backed up with sources and verified Lots of public information there for you to see if there are any patterns DYOR and draw your own conclusions