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I don’t think the executive team and board of directors are up for the gig if their response to the share price falling 80% is to seek £15 million in new equity. The 80% decline hardly gives anyone confidence that giving this crowd another £15 million equity will fix this company. Watch for management buyout or takeover but don’t get your hopes up regarding price.

Pretty disappointing for BRY investors that the company needs emergency funding to get through the next couple of months, while acknowledging they want another £15 million to expand their products. No investor will touch this company until this recap is done and in all likelihood shareholders will lose most of the value with someone else acquiring the remaining business for a pittance.

I get the extremely cheap share price. But how are prospects improving ? Haven’t SIM been printing losses for a couple of years?

Shivers and cold sweats........this reads terribly

Nicton appreciate your coverage of Elecosoft over the years. Manage to double my money on this one albeit investing from Australia have lost some of gain on currency. The energy of the Executive Chairman is a big part of this turnaround. I�m content to remain invested here as 2 times revenue appears ok.

Nice pop over night. The company�s enterprise value compared at annualised recurring revenues at 2.5 times is lowly so plenty of upside if the company can now scale freecashlow generation / profit generation.

Welcome aboard make money. Are you onboard here ?

While probably a fictional tale are the company hopeful of being cash generative for the full year.? It feels like a mythical wish to generate free cashflow in the year to 31 March 2018 after burning �6 million in half one. Time for the Chairman to go as credibility in tatters and share price going backwards. CEO under pressure.

Why is the value of this contract worth £15 million Sterling?

Flicked out my Brady today. Like vs like sales declining 5%, £1.6 million in cost saving drives the £800k improvement in EBITDA. The company is capitalising some of its software development with free cashflow generation non existent in the half. The CEO recently stepping down with an outlook described as difficult. The forward looking business strategy appears one of further cost cutting. Can't help but think Brady can get worse before it gets better. Hope I'm wrong as there is a bit to like here.

Does this company have real focus? Is their specialism out of favour? Seems to have pedigree and history but maybe they are spreading themselves too thinly. No free cash generation and share price going backwards suggests investors are not warming.

This computer generated type of content Is absolutely CRAP. It's noise aimed to get eyeballs on to the accompanying ads.

Agree. Can't quite get why the company hasn't updated and its 20 July. Good or bad you would think with the sp below 70p management would be releasing a trading update to market showing either the stock market has oversold the stock or the share price is a fair representation of a more depressed outlook.

These guys never put anything on the line. They are raising over 8 million but where the flip is their commitment to be free cashflow generative. When are the Directors/Management going to show some steel. Probably better off with ownership by another Board/Management team. These guys are weak!

Hardman has £23.7 million 2016 revenues growing 41% over the 2 years till 2018 suggesting revenues of £33.5 million. They say the enterprise value to sales ratio of 1.1 times gives no credit for the potential for cash margins to leverage. Lombard remains an attractive story but freecashflow delivery continues to get pushed. I'm hopeful the current CEO will bring a fresh perspective to cash profitability !

I believe it's always healthy to test ones assumptions and query managagement. It's encouraging to hear your confidence around this name. I have already sold nearly half my holding at 32p at the time when the share peaked at nearly 35p. I haven't quite got the confidence to add to my position again. Tempted though. I only invest in the software space and also have UK names like Kalibrate, Lombard Risk, Brady (acquired post recent sell off < 40p). Are there any other names you like?

Appreciate the feedback here. There is much happening in this SaaS collaboration space. Textura has recently been acquired by one of Elecosoft's key competitors Oracle while Aconex acquired German SaaS company Conject. The point was more around cloud delivered colabouration software appears to have suddenly got significantly more important in construction and Elecosoft has its DNA in local server based and desktop systems.

Also an investor but have queries in the back of my mind whether pure SaaS companies like Aconex in Australia and Textura in the US will end up dominating many of these construction systems markets/sub markets. The Elecosoft SaaS products feel years behind the leading venders.

This website has few fellows for companies of this capitalisation ? Any body care to write down what is actally happening with all these RNS releases for Bond International ?

I tried to engage the company but they didn't want to respond to my very basic questions. On paper the enterprise value to recurring revenues, the cloud based business all look very good, but there is a smell about this one and I can't quite figure out what's wrong. The major shareholders don't want to engage the market participants. Why don't they ?