Great to hear from SJL, very sad to hear about Bruce, hope his Mum stays safe. This virus is clearly going to mean no jam for investors tomorrow, or for a good few tomorrows thereafter, so deferred jam, not exactly unheard of for MMX, we are all used to that! Listening to 5 live this am they are suggesting 800k - 1 M businesses are not going to survive beyond the end of April because Gvt help won't reach them in time. Fantastically MMX are trading satisfactorily through all this (at the moment) and for companies to survive cash is king, for a reasonable amount of time cash is a resource MMX fortunately has, so in the circumstances things could be so much worse. It would be good to have frequent updates from Toby rather than wait with no word until September; that could be in another era!.
Silv and bakky....This has got to be about investor perception, Toby thinks 'numbers', and avoiding the difficult questions is what it is all about, yes all companies need the figures to read well, ours are OK (could be better) and I believe us to be operationally sound, I have spoken to Toby directly about the sp being nothing but dismal, he hedged and avoided discussing, i got the impression the sp was not his concern; to some degree it must be, it represents shareholder value, surely that must be a concern for the BOD. The problem is MMX is not recognized as a good investment, this needs remedying, the investment community/ gtlds market needs some guidance from a reputable and reliable source or we will be scraping along the bottom for ever. If our II's lose heart and take their losses we will be in all sorts of trouble. Huckster
In my best Norfolk, it gew t' shew how much of a mess we were in before the ICM deal, take their revenue out and work out where we would be? Going forward I don't think think organic growth will get us anywhere fast, Adult******* has possibilities, we need a registration grab, but we don't want any offers until our sp is at least 10/11p, that for me is 18 months away, if you invest long enough all good companies have their day, you have to know when that day arrives; it sure as hell isn't right now with MMX. Harry Huckster
Bakky Can't see a sale on the horizon myself, the exit price would need to at least 16p in my view, Hony would not exactly be doing cartwheels of joy on anything less. Imho our market cap now should be just shy of $100M say $95M , had it not been for this virus I would expect us to be 9 - 10p ish, but to build the price organically from there (where we are not) by gradually adding registrations is going to take years and that only applies if gtlds are still in vogue which is not a given. So for me a sale of 16p-19p is the only option that works. The 16p - 19p correlates fairly comfortably with recent PE registration grabs, Bakky lets just say its desirable to me!.............Huckster
Yes, what I mean is these Directors are not backward about honouring themselves and awarding themselves pay increases, the video interviews do not exactly have difficult questions any of us core contributors could do so much better, its just a massive lap of honour for Toby while all the Shareholders are stuffed up Huckster
Yes, stay safe everyone, I've been to 1 supermarket with crowds of people way too close and 1 supermarket with a 50 minute queue just to get in, crazy world.
For me, I have faith in our management, they have turned the company around, created an annuity style business based largely on renewals, got some innovative stuff going, sorted the geographical income feed and achieved profit, I am sure they will be able to maximize revenue and minimize costs going forward, I have no worry about the business operationally. Our issue is now market perception, yes there are historic issues, we were a 'lets make a quick buck company' run by muppets but surely Toby can't simply pat himself on the back and say job done, I think I'm due another award (yes I saw the video, if you just want awards join the bloody circus) what about all the investors who financed all the mistakes, what sort of award are we getting, the shareholder value should be part of what the company is responsible for. I think shareholder value should be both a concern and a priority for Toby; getting ****ed off by the wait, sorry for the rant Huckster
Ursupator: Well yes, as I recall these were the revenue figures, what has happened as with our understanding of consolidation in this market is that the costs of the 2 businesses have been amalgamated making saving from the addition of the costs of the 2 separate companies, all the saving probably don't show in these 2019 figures, they should all show in the 2020 figures, these savings will add to the bottom line profit figure. Having said that the revenue figures do not paint a picture of runaway success, SB was eluding to this, so yes revenue is up to $ 18.9M that is good but not quite where it should be especially as $ 1,1 are down to Adultblock, not featured at merger time, I would say you make a fair point Huckster
Bakky, maybe hard to know, surely it will depend on customer demand, if they want Adultblock they may buy it, hopefully our salesteam are on the case.
I would expect revenue for 2020 to be itro $23M. It is difficult to see how a company like MMX would have a market cap of just over $50M ............something is wrong? Huckster PERHAPS SJL might shed some light on these results for us......please
Also! 2020 could receive a decent boost with Adultblock revenue in the last 2 months of 2019 revenue from Adultblock being $1.1M even if they were heavily discounted in 2019 there could be significant revenue boost in 2020 albeit not enhancing registrations.
Silver, looking at things in that light it is not a phenomenal performance, nevertheless revenue of $18.9M is about what we expected, I think we were looking for $19M - $20M
I am not sure MMX will ever deliver much shareholder value in the medium term , say 5 years or so. I am focusing in on the credentials of MMX as regards being folded into a much larger tranche of registrations by a PE company. so for me its registrations, revenue and profit with no encumbering debt or onerous contracts. From that point of view we are going in the right direction me thinks, yes, could be better, registrations/ revenue is up 25% we have a $4.7 m profit as opposed to a $12.6m loss these are very reasonable headlines. Our costs are of little importance in a consolidation because they will be very largely constitute a saving. The pitiful sp should not be relevant in a sale provided the company don't fold to a low ball offer, they don't need to because we have cash in the bank, I know this is simplistic but for waiting until MMX to have 10m registrations will take too long for. Huckster
hmm don't think many of us are overly surprised by these results, they were predicted by SJL 18 months ago, so well done team for a great effort on turning things round, we now are facing in the right direction. The bumps in the road however continue to dog us, an increasingly massive disconnect with the sp caused by mickey mouse Freddy Kruegar management in past years with accompanying background music by Wolfgang Amadeus and now the Covid 19 pandemic, will all this effort and patience ever achieve shareholder value, Divi announcement in September, divi 2021?
The mmx crap has got its own crap..................we are now in my view eminently buyable provided our results are predictable, we need to be beware low ball offers, we really need to see 18p , just a longer wait again , Huckster
Yes SB , Now Toby has turned the ship around it is very hard to see why MMX is not able to generally match the performance of other leading Registry's. Our market share has risen to 7.52% and registrations are up around 33% at end of 2019. Provided we are not all about freebies, our end of years results should be very good. Trends in registry sales should be relevant to all well managed registry's imho, can't quite see the logic in selling just before some good results and a divi. Huckster
The advice i am getting, (not from SJL, although very similar) is that we need to show we can keep producing good profits and an increasing revenue stream on what needs to be £ 19/20M shown in 3 weeks time, show this performance can be taken as a given for at least 2 years and 'bob's yer firkin', ................................sale at 16p -20p Huckster
YHAL I think MMX simply need to charge ahead to get the biggest possible market share and number of registrations and the rest will take care of itself, flapping around like a wounded bird will only yield sympathy low ball offers. Don't see 10p by the end of March, be lovely though, my head would at last be above water! .....Huckster
hmmm as I recall before the recent large PE acquisitions there was a game of musical chairs, with folk leaving icann and companies about to acquired so everybody had a seat when the music stopped. Why would Toby and Michael employ someone who could do their own jobs, Is this simply laying the ground before an event of which we have have no knowledge, I know SJL says he don't know nuffink, and he can say little else but I just wonder.
Having SJL on the BB is like having a horse shoe in our pillow case, if you want to have a pillow fight with Toby a horse shoe is always going to give you an edge, and Toby a headache, hope that is not too obscure for our esteemed fellow contributors!
gorra go Huckster
For MMX to 'merge' it's 31 tld's with Franks 24 tlds would be very considerable and significant revenue of circa £ 38M to fold into a one of the big PE players consolidated masses. In my experience there is no such thing as a 'merge', often referred to to but the reality is that one of the merged parties diminishes the other and its a takeover. Is there any way we could acquire such a large entity as uniregistry? have we really got that type of muscle?,,............,interesting prospect Huckster