Member Info for Brightstone

DEST now down 18% today. CGH down 23% today. People do not want to hold delisted shares.

Buying now and trying to sell at a profit in the few remaining days is a dangerous game. There could be a scramble to sell in the last few days.

Not any more. DEST just fell again. 2.5p bid now. Someone just sold 213k CGH at 0.12p.

Seems to be the same pattern. All the delisting shares fall in the days leading up to delisting.

DEST now down 12% today. CGH down 23% today.

Delist confirmed. Last day of dealing one week tomorrow.

Anyone buying now will struggle to sell before delisting with a profit imo. Very illiquid and expect some last minute selling. Seeing it with CGH which has Thursday as the last day of dealing and is down 23% down today.

The market thinks otherwise. SND down 6%. CGH down 23% today prior to delisting on Friday. DEST down 6% today prior to delisting tomorrow.

Nobody wants to hold delisted shares.

Good research jd.

I think the drop on the Deutsch Bank downgrade is overdone.

If the delist gets approved then there could be a scramble to sell shares.

It is only a week until the delist date and very illiquid. Nobody is going to buy to try and sell out higher within a week. They would get stuck in.

Another delisting. Will delist on 11 Sep if resolution is passed.

Great RNS. I thought we would be up a lot more.

How are they going to pay off the 6m facility?

Repayments just started in June 2024.

It looks like they can't make the repayments on the facility and need to renegotiate.

Cash burn was £2.2m in the first half and they only had £0.9m left at the end of Feb.

It looks like they will need to raise.

No mention of the cash position or cash burn. Why not?

PHC analysis.

https://youtu.be/CdxhH1aHSfU

Unanimous opinion was that they need cash soon and will raise.

We have seen some very discounted raises lately. 4p?

That should be 15% up on 2023, not 2022.

Looking back, revenue for 2023 was originally forecast at $15.9m and came in at $11.2m.

How much faith can we put in the new forecast? It's jam tomorrow.

I think they will need one more raise. Perhaps 3-4p in the current market?

Even with the high growth forecast they need working capital. Almost all companies recently that say they are looking at non-dilutive funding options end up doing a discounted placing.

Very worrying that if they miss tragets slightly and grow at 25% they will need further funding. The first four months has seen good growth from restocking but is only $4.3m revenue. Annualised that is $12.9m, only 15% up on 2022 and would mean they need to raise more.

Released after market close on a Friday and with a material uncertainty on going concern. Not good.

''In the reasonable and plausible downturn scenario where revenue growth is 25% or below, the Group's ability to fund its operations within current resources will be impacted and further funding will be required which is not guaranteed, this will have a direct impact on the Company's going concern and as a result a material uncertainty exists, which may cast significant doubt about the Group and Company's ability to continue as going concern and therefore they may be unable to realise their assets and discharge their liabilities in the normal course of business.''

Is there a telegram group? Link?

Ouch!

Revenue down

Gross profit down

Profit switched to a loss

£0.6m decrease in cash

Cash at end of period of just £7k

More jam tomorrow. Doesn't justify a share price at a 7 year high. Tin hats today.

Like for like growth was 1.8%. So there was some growth without new stores but not much.

Looking decent value now though.