Member Info for Desertsands

I Never said it was a contract! I referred to the screenshot you posted which is dated from October 2022 and displays no signature so I’m wondering what value the certificate holds.

Stuarttv - that screenshot you posted shows clearly it is dated October 2022 and was awaiting a signature then!

Can I just say that the tone on this board today is so much nicer than it has been for sometime…. 🙂

I know we don’t have to agree and often we won’t - after all, there’s not much point in posting to an echo chamber, but it is nice to read a mixture of views express constructively and without rancour.

Hats off to them for acknowledging the situation regarding Stuart hawthorn - not many other ceos would have taken the question.

There was a slide on the presentation regarding the new companies that have come into this sector and it is really interesting to see how they are funded. Gtech is the only one that is listed all of the others have private funding and when you have Jeff bezos and Elon musk throwing billions into companies it's a little like David and Goliath.

The thing is, Getech have the data and their subscription model looks hugely positive. I am going to hold and watch this space.

I will say this though, there are not many CEOs prepared to try and slog out earning/ asset selling for £500k cash flow to keep the ship floating rather than do a raise. They did seem to be particularly mindful of their current shareholders.

Right, I'd better get some work done as clearly I cannot retire!

Have a good one ..

Richard Bennett has stated that Gtech has been lost making for a number of years and that makes it difficult for them to go to institutional investors because they yawn and say oh look it's Gtech again.... They are very close to the point of being able to go to them and say right, we are now growth making let's talk about investment.....

Reiterating that they have had inquiries regarding partnerships.....

Asking why they did not raise before the catastrophic SP drop, once they became aware of their cash position

It was very very sad to see Stuart Hawthorne leave and that was not anticipated and they cannot divulge the reasons. However it is all systems go on moving forwards.

They don't seem to need an awful lot to move forward - the sale of Nicholson house seems to be crucial here.

Question about a buyout now -

He is saying he would not be surprised if they became a target because that database is worth so many multiples of what their m-cap is currently

Again they are talking about trying to run the company from ARR and Nicholson house.

Reiterated the gap they would need funding for is small .....

Lots of questions on placing and funds..... Do sign in if you can.....

Do try and sign in

Question on placing now.....

Shortfall because of non-sale of Nicholson house....

Doing things like how to actually response is doubling down on sales efforts for Nicholson house second option and looking at the sands at lastly pushing to increase their ARR on current contracts - they have acknowledged that the current SP in no way reflects the value of the company. Have described the SP as crazy

Regarding doing a raise according to Richard Bennett it is the last resort and they are not currently intending to do so but if push comes to shove they will but only to cover the short form if required

Did not go forward with H2 green because it would have required a raise.....

Also have applied to reclassify from o&g to tech - lots of companies have stated a desire to to work with Gtech approximately but their own esg will not let them as they are classified as oil and gas and that goes against their internal climate and esg protocols.

It is worth signing in if you can - ......

Royalty system introduction is really useful and interesting

Tiered system for buying in to Globe

Looking to partner with companies on new tiered system

Revenue diversification -

Interesting that they list that are now five players in the subsurface data modeling sector and it is a multi-trillion dollar industry so really planning out how to tap in to increase their market share.....

Yes I understand that but surely it is worth asking the question during the q&A session of the AGM to get the answer from them!

Tranche not trunk ....

Following your simple rule of if a salesperson gets commission then it's - unfortunately there are quite complicated rules around commissions payable on multi-tier contracts and when they kick in.

Hi Hastings -

It's phrased that way because it's part of a deal

that has already been negotiated .... This trunks of money is what is due under this part of the deal and when the next part of the deal kicks in that too will be transacted.

I do agree with you that it is clumsy....

I'm sure there will be curiosity as to why Stuart Hawthorne has dumped all his shares in one go..... That has got to be worth a question because they would have been advised.

TT1981 - I’m with you on this -

the CEO made it very clear that the only announcements he would be making would be of new business. Any new business would have been RNSd. In the absence of anything else, Instead, we have one renewal and one next phase progression.

Anyone else signing in to this ?

Indeed Spratt ….. you said on January 2nd “ These results will hold little interest to me, Q1 ‘24 and H1 ‘24 is where I expect the big change in revenue to be reported.”

There have only been 2 RNSs regarding contracts. One was a renewal and this one - stating progress to the next phase of an already agreed multi phased contract. Neither constitutes new business and combined, they are less than £800k in monetary value. That cannot be what you had in mind for the big change in revenue you were expecting. That’s not going to keep the lights on for too long or pay the salaries of the BOD let alone the staff or overheads.

And before anybody jumps on the bandwagon - yes, I am holder here and yes, I, like others, am concerned that there does not appear to be any NEW business being signed. They have got a lot of ground to make up and understandably it is an uphill task considering historic legacies…. It takes time to build/rebuild a reputation and no one doubts it is all hands on deck. I am looking forward to the next update - It will be interesting to hear what Stephen Kelly has to say this time round regarding go to market progress because in his last update, he freely admitted that things were not going to plan and it was taking considerably longer to move forward. He admitted that it was taking longer than he anticipated……

Have a good day, everybody.

When a share price takes an eyewatering walloping and lack of confidence is on display, it’s not unusual for directors to show good faith by buying in ……