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4 Job openings - two of which posted on 21st July. One today as copywriter... Does that sound like confidence in the future?
https://app.beapplied.com/org/1264/eve-sleep
The phrase "Cash is King" couldn't be more real than now. I guess Eve Sleep suppliers are now extremely nervous to supply Eve without upfront payments which will only escalate the cashflow problem; so if we see "out of stock", it is possibly for those reasons rather than selling out. They need a deal pretty quickly otherwise supplier's will not trust Eve and nor will the Customers who are buying mattresses without warranty/365 days return. The director Tom Enraght-Moony stepping down at such critical period when shareholders need him the most is a complete cop out... it's defo not a positive sign...
Good luck all holders! This is as risky as it gets... ticking time bomb or count down to takeover or new money? My bets are on DFS taking Eve sleep brand but anyones guess at what price and terms. They may completely strip the company and get rid of all employees to retain the brand only for exclusive sales via DFS channels. It seems Eve will be choosing between bad and worse offers. Alternatively is PE investment which I don't think they will get 10m+ for the company may be 5m + commitments to invest further 10m in Eve sleep so total 15m commitments may be? Or worse option for fund raising which is also possible is a very significant dilution... for example raise 10m at discounted prices which will save the company but wipe out existing shareholders. Hopefully they do look out for current shareholders and not just for saving their own job...
Wyn- if u had a million shares what wud u do now at this stage? Hold, Buy or sell?
Disaster... Market Cap touching 1.5million... No more expensive than a 2 bed house in Central London....ridiculous. Can you believe this company has raised and invested over 60million of shareholders money. Now worthless.
Greg, I've been following this board for a while and I doubt very much Wyn and D-Geeman are the same people. They both provide meaningful input to this board. Why don't u share some valuable information rather than criticise others?
What's the point of listing ideas for Eve to cut overheads? Do you plan to email the team? But given the circumstances, I am sure management team at Eve Sleep would know best what to cut or not cut. It is their job. My main job as an a shareholder is to either trust or not trust their strategic hence buy or sell the shares so not sure how it will influence or chance anything.
I saw on Linkedin CC reposted a job vacancy recently, that sounds like confidence to me given the situation. IMO, I would of thought given the FSP status and cash levels, recruitment would be halted until further funding is confirmed. Do we have interested parties? Fingers crossed. IMO, DYOR.
Well said Wyn, if only I could be as objective as you... it seems much easier to react emotionally which usually leads to worse outcomes. Seems to be more effective in the long-term if invest in a systematic and disciplined way.
It is now all down to LUCK... to see if any buyers see the future potential in the brand and whether it can add value to their portfolio. I think the best outcome is if DFS, a retailer who needs stronger online bed brand or PE to take it over. But what are the chances?
How long does it usually take to draft a proposal to takeover a company? If a company is interested in buying Eve Sleep, needless to say, a lot of thought and plan is needed to structure the deal. The buyer not only needs to place an offer for example 2p for the company but also outline plans for additional investment into the company. I guess Eve would need at least another 10million in the medium term to get things moving and to finally achieve sustainable profits objectives.
Anyone have any forecast/estimation on how many days, weeks or months can Eve Sleep survive considering the cash balance and situation?
Net cash position to £4.5m at 31 December 2021.
Now the whole world Eve Sleep is up for sale (Black Friday come early.) hopefully someone rich can save the day.
My major concern is a potential for rights issue and at what cost for shareholders. No one could have predicted the Russian war or inflation at these levels. Under these special circumstances it is a good "excuse" for CC and Tim to say we need a bit more capital to see us through this dreadful period and subsequently we will return shareholders generously with profits when market confidence returns blah. IMO, DYOR
Simba using the Jubilee as any reason and same with others cos consumers wallets have shrunken with energy price etc... the discounts are just a stimulation to get them interested. With consumer confidence at rock bottom, high ticket items and decisions to buy things like mattresses is not a necessity when people are choosing between food or to heat up their homes. I guess all about priorities.
Dontgiveup- It's not like CC wants to discount 50%... its cos they have no choice. Market pricing: Simba offering 55% discount, Emma offering 50% and every other mattress company offering similar discounts. Eve Sleep although is a very unique brand, but it's not special enough for consumers to pay full price for when competitors are offering good deals. It's either u discount at slimmer margins or ur not gonna get much sales
Hard times for consumers... the only way to attract purchases especially big ticket items from a limited pool of buyers is to discount aggressively while competitors are doing the same. What other ways for CC to attract people to buy mattresses especially when times are extremely tough for people as energy prices soar?
Can the AGM be watched online? Anyone got a link?
Does that mean they are only permitted to issue one-third of the company's share capital (current float (i.e. 274,742,418 shares)) which means at current market cap (4.5m) and share price (1.6p), if raise at current share price then the maximum they can raise is 1.5mil? But usually rights issues are issued at a discounted price so it's likely they may only be able to raise about 1mil? That's not much is it?
MMs taking 1.1m shares at 1.815p- seems to be a willing buyer at these prices.
Past two days have been strong and consistent selling... it seems the cost of living crisis is spooking retail investors. It seems quite rational that people are less likely to buy a mattress during these times. Hopefully DFS deal generates high enough sales to offset the general downward trend of spending especially high priced items like mattresses and furniture.
What makes u think that? CC mentioned they received none so far in the recent update not long ago. What changed since then?