Member Info for bluecar1

From another site The Phorm excuses glossary...‎ hTTp://www.phorm.com/sites/default/files/2012.06.29%20RNS-Phorm%20YE2011%20Results.pdf 29 Jun 2012 ... Much slower than anticipated ramping in Brazil, but expected to improve in 2012 once user numbers grow. • Equity placing in November 2011 hTTp://www.phorm.com/sites/default/files/Phorm%20Inc%20YE2011%20Results.pdf ‎28 Jun 2012 ... Nevertheless despite the slower speed the commercial results in terms of advertising pricing and performance have been excellent hTTp://www.phorm.com/sites/default/files/13.06.28%20Annual%20report%20YE%202012%20(FOR%20RELEASE)_0.pdf ‎28 Jun 2013 ... fact that revenues have not grown as rapidly as originally expected due to slower than expected user growth in Brazil and the delays hTTp://www.phorm.com/sites/default/files/2010_Financial_Statements.pdf 31 Dec 2010 ... Operational performance 2010 and 2011 to date has seen Phorm achieve substantial results, although progress has been slower than we had. hTTp://www.phorm.com/sites/default/files/2012.06.29%20RNS-Phorm%20YE2011%20Results.pdf 29 Jun 2012 ... disappointment, we saw our dependency on the slow pace in that country ... We expect a substantial increase in the pace hTTp://www.phorm.com/sites/default/files/2010_Financial_Statements.pdf 31 Dec 2010 ... believing that the pace will accelerate in the months to come.

Begging bowl must be doing the rounds with the level of ramping on other sites Sp will rise as people try to make out phorm has found a way to become profitable (cough) DYOR Jam will be promised tomorrow as it has been with uk, Romania, Korea, brazil,Turkey etc but none has ever been delivered in significant quantities and not enough in a year to cover even a quarter of a single months cash burn Look back at all the full year 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 ? No one but the CEO would know for sure You could also look at the public records of the CEO's previous businesses and see if there is any history of profit or failure and draw you own conclusions Try looking up the ceo 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 Lots of public information there

what also get more depressing is the revenue per advert served h1 2013 100m adverts served $28500 revenue 28500 / 100000000 = $0.000285 (or 0.0285 cents) per advert served h2 2013 800m adverts served $251300 revenue 251300 / 800000000 = $0.000314 (or 0.0314 cents) per advert served h1 2014 2600m adverts served $528000 revenue 528000 / 2600000000 = $0.000203 (or 0.0203 cents) per advert served q3 2014 3300m adverts served $474000 revenue 474000 / 3300000000 = $0.000144 (or 0.0144 cents) per advert served so it appears they are having to discount their rates to get campaigns so both income per user and income per advert are both in decline if you analyse the figures not exactly the results you would expect a company who are supposed to be heading for profit with a unique highly targeted advertising system with better than average conversion rates than normal? their income per user is falling, their income per advert is falling so where is this growth and positive results phorm seem to imply in their operational update? as ever it is what they do not say that is of more interest as you can see from my posts today

i can see although they have increased their user base they are completely failing at serving more than 1 advert per user every other day not exactly great, probably a single advert on the interstatial page i also notice they are only converting 4.2% of advert requests into adverts served? very poor performance another interesting view income per user per month, in the BT trial phorm claim to b able to generate $1 per customer per month h1 2013 800000 users / month revenue $28500 over 6 months $28500/6 = $4750 per month revenue $4750/800000 (monthly income / monthly users) = $0.0059 or 0.59 cents / user per month h2 2013 14100000 users / month revenue $251300 over 6 months $251300/6 = $41883 per month revenue $41883/14100000 (monthly income / monthly users) = $0.00297 or 0.297 cents / user per month h1 2014 37800000 users / month revenue $528800 over 6 months $528800/6 = $88133 per month revenue $88133/37800000 (monthly income / monthly users) = $0.0023 or 0.23 cents / user per month q3 2014 75300000 users / month revenue $474000 over 3 months $474000/6 = $15800 per month revenue $15800/73500000 (monthly income / monthly users) = $0.00.21 or 0.21 cents / user per month so income per user per month is well down on the claimed income of $1/user/month when they started with BT and the income per user per month continues to fall

lets look at the figures in detail h1 2013 .8m daily users 100m adverts served over 6 months 100m/180 (180 days in half year) =555000 adverts served per day? and with 800,000 users per day comes to 0.69 adverts served per user per day? seems to suggest only adverts on portal h2 2013 14.1m daily users 800m adverts served over 6 months 800m / 180 = 4.4m adverts served per day with 14.1m users per day that means they served 0.32 adverts per user per day? h1 2014 37.8m users per day 2600m adverts served over 6 months 2600/180 = 14.4 million adverts server per day with 37.8m users per day that means they served 0.38 adverts per user per day served q3 2014 73.5m users per day 3300m adverts served in 3 months 3300/90 =36.7m adverts served per day with 73.5m users per day that means they server 0.49 adverts per user per day so where is the exponential growth there? they were serving more adverts per user in brazil than they are now to "china and elsewhere" not exactly sparkling performance, one advert every other day to each user?, chances are that is just the basic adverts on the opt-out page? assuming they allow users in china to opt-out? phorm are increasing their user base, but completely failing to serve adverts to users

why pay for something that is on its last legs? every 3 months they go back to the markets for another £10m, very little revenue, huge cash burn, big promises and no delivery make your own mind up

mr winithrith wading in about mr bigger www.shareprophets.advfn.com/views/7383/poor-form-and-a-bigger-fool-death-postponed seems he cant read, he says "The interims showed that net current assets at June 30th were $2.6 million. The monthly cashburn in H1 was $2.6 million. Do your maths. But last week the company must have been trading pretty close to insolvent. phorms interim report says "During the first 6 months of the year, average monthly cash burn excluding financing activity was $3.6m (2013: $2.6m)" but still more accurate than mr biggers effort at thisisbigger.com/2014/08/22/phorm-investment-thesis/ quotes many thing as "source company" but does not seem to have done any independant research who are these " commercially-driven world-wide smear campaign (Source: Company) A professional group of anti-Phorm campaigners, posing as ‘grass-roots’ campaigners" also "Phorm obtained a Court order against certain protesters", two problems there, it was the CEO not the company that obatained an interim court order? and it was against a single person (note the singular) there are a number of other possible errors as well there is one question that needs asking if these "grass roots" people caused problems for phorm with regulators etc why? surely these regulators did their own investigations after being informed of issues by these campaigners?, if the issues were groundless why did phorm have problems with these regulators etc? were not operating in a fully compliant manner ? or was there other issues

what another site seems to think of phorms finances? "Phorm Tick Tock Tick Tock – is this week of D-Day? That is D for Death" http://www.shareprophets.advfn.com/views/7099/phorm-tick-tock-tick-tock-is-this-week-of-d-day-that-is-d-for-death

oh dear, no wonder brazil was de-prioritised hxxp://oglobo.globo.com/economia/defesa-do-consumidor/oi-multada-em-35-milhoes-por-invasao-de-privacidade-feita-por-velox-13348505#ixzz38IWgfsg6 to quote the title as translated by google translate Hi is fined R$ 3.5 million for invasion of privacy made by Velox According to Ministry of Justice, broadband service monitored Navigation User Profile and sold to advertisers so phorms partner got a large fine for the service provided by phorm? so fine in romania, turkey and now brazil? any more in the pipeline?

1 month to next cash call / share issue so current burn rate and cash in hand seems to suggest about 4 weeks cash left, so what phorm going to use as good news to persuade people to part with another load of cash to keep them affloat for another 3 months? and how much dilution is it going to be needed this time, and how many more cash calls before people think enough

So after the few sheep all the trades after 9:30 have been on bid and the mid had dropped by 9am to 9.50 so what happened to the zoooooommmmm? Bit of a damp squib even by phorms standards' not much in the 4 announcements 400k / year income against 3m / month burn, yep great business model (not)

i think you will find the likely date for FYR's is monday 30th june, the last day they can publish wihout getting into issues with AIM also expect some vague "good news" friday with warm fluffy info but lacking fine details you can verify to try and offset expected lack of good news in the FYR's monday, look back at previous years and you will see this sort of pattern a number of times do not expect massive revenues from turkey, last figures were $4.7k / month, there was mention of 125%growth, but they failed to include any actual figures so revenue may have gone down to only $1k or up to $10k/month you will not know until monday, but my guess is not good news on revenue or they would have been singing and dancing with RNS announcements about it also look back over previous FYR's and HYR's (remember HYR's are not audited or verified) and see if you notice any patterns of "good news" which failed to be delivered or growth / revenue target that failed to be achieved do your research and if we get a good spike friday it may be a good time to bail or sell half of your holding / top slice as normal situation is SP dips a day or so after results announced

hmm http://english.people.com.cn/n/2014/0613/c90882-8741020.html Quote China launches campaign against online piracy BEIJING, June 13 -- The Chinese government has launched a half-year campaign against rampant online piracy, targeting websites which offer unauthorized content from traditional media. snip "The move aims to promote cooperation between online and traditional media institutions and better protect copyright by standardizing the use of copyright owners' content online," said a statement issued by the departments on Thursday. end quote now go back to brazil i believe there was an issue with phorm agregating and using some RSS feeds that had T's and C's about private use only and against commercial use now go back to the UK there was a lot of issues with the possibility of phorms webwise breaking copyright when it intercepted and processed the website traffic in flight to the requesting end user, as the T's and C's of many website specifically prohibit the ability to allow the end user the ability to transfer there right of use to a third party (eg phorm), as well as many prohibit the use of content for commercial gain (eg scraping content to target advertising for a (cough) profit) so are these old ghosts going to come back and haunt phorm again? if they do and cause delays yet again it may well be the end

hmm "Foreign tech firms pose Internet threat" - China.org.cn hTtp://www.china.org.cn/business/2014-06/04/content_32564736.htm thats not good news for phorm, being a "foreign" tech firm :)

i see the normal consequence of phorm visiting a country in brazil hTTp://www.economist.com/news/americas/21599781-brazils-magna-carta-web-net-closes [quote]“THE best possible birthday gift for Brazilian and global web users” is how Tim Berners-Lee, the British inventor of the world wide web, which turned 25 this month, described Brazil’s “internet bill of rights” in an open letter on March 24th. The next day legislators in the lower house of Congress duly approved it. The sweeping bill, which now goes to the Senate, is “pretty much one of a kind”, says Ronaldo Lemos, a lawyer and academic involved in creating the original proposal in 2009. It enshrines the principle of “net neutrality”, which holds that network operators must treat all traffic equally. It also ensures that 100m Brazilian internet users enjoy online privacy (by barring providers from rummaging through their data) and freedom of expression (a court order is required to force the removal of contentious content).[/quote] why do we see this sort of legislation appearing after phorm set up in a country? could it be the outcry about invasion of privacy by phorms system? and the use of DPI for advertising / stalking users?

not so sure all the shares already placed, that is a very different announcement from what phorm have released in the past some on another board have suggested this is due to change of nomad, not certain though queue ramping to prevent SP collapse looking at the numbers in the news, don't really see any major progress number of ISP is up slightly, as i the "number of daily users" no mention of income, impressions or anything that indicates they have improved cash flow if they have gone into more ISP that is a large outlay for kit which needs to be paid for, unless th ISP have paid for the kit to little information in that announcement, makes me think they don't have any good news to release, could also be the reason we are not seeing a "done deal" type announcement as in the past no doubt more info "may" come out next week if they struggle to get enough interest one thing i note is the percentage both meditor and voillette are taking, only £1.4m each, not the normal percentage i have no real doubt they will manage to raise the cash, but if the fail to place the whole amount where will that leave them? as there is no way they won't need more cash before they can become self financing DYOR phorm are a risky share which is very volatile

have a look in the shareprophets site new article phorm-nomad-liberum-aim-regulation-having-a-butchers aim compliance looking into the china $20m?

www.shareprophets.advfn.com/views/4321/lucian-miers-phorm-avoid-like-the-plague seems to like some of BTCustomers research as to which will come first begging bowl i recon based on previous trends, then once the cash is secured (assuming they can raise it this time) then the bad news of the update will come out 3-5 days later

TPP have you got your monitor upside down?

http://www.shareprophets.advfn.com/views/4305/exclusive-evil-knievil-dumps-his-entire-holding-in-phorm