Member Info for DJFinsletown

Notification of major holding by Robert Tchenguiz - looks like a spread bet involving 39m shares.

Interesting to see that Yvonne Themba would appear to have been close to President Ramaphosa in her previous roles at Shanduka Group as well as on the board of his foundation.

While Charles Needham appears to be involved in mining in the DR Congo and Zambia. Spent time with Metorex Group as CEO and now at Alphamin Resources.

Revenue surges, but once again profitability is elusive. Will Rob Proctor's promises ever come true?

It seems they've also set up a new operation in Austin, Texas, at least according to Sonic IM's website: https://sonicim.com with new staff deployed. I wonder whether this company will go the way of Sonr News?

Reading this report makes me feel that the management and directors have completely stitched up the shareholders of Audioboom...directors skimming off the top of podcast revenue with SPV Investments funding agreement, millions of warrants for directors and share-based payments for employees...will this ever reach profitability?

Avocet's board withdraws resolution to put company into liquidation.

What's going on here? Is Elliot going to resurrect this zombie company? Is this the reason for the sudden spike in share price at the start of the year? What new investment opportunity is on the cards? And where is the possible funding coming from?

Something fishy going on!!!

Avocet is dead - what a fall from grace! Any crumbs left for the shareholders?

The irony - David Cather voted in as non-exec director on same day Avocet Mining, which Cather used to run, announces liquidation.

What next for Avocet after sale of interest in Tri-K?

Will company be wound up? Or announce some new venture? Elliot will be happy to get some of their cash back for sure!

Podcast content funding guarantee arrangement

I'm not of the same opinion - we're giving up advertising revenues and significant number of warrants in the company. It risks being another deal like Sonr News, in which Audioboom gained nothing.

Coast Capital just upped their stake in FirstGroup to 7.59%.

Stagecoach and Virgin won't be in running for West Coast franchise, leaving just FirstGroup and one other bidder.

And Paris region opens up bus system to competition, paving the way for a possible bid by FirstGroup.

Results soon. Things looking a lot better for this share, especially now Tim O'Toole has gone.

Happy with this trading update...

FY19 revenues £71 million
Adjusted EBITDA £18.5 million
Gross cash £18.4 million

Or rather 'Planet Zoo'!

Great news on the new franchise. Got no idea what it is. But for the already announced game currently under development my guess would be 'Planet Safari'!

Disappointed by this latest subscription, but unfortunately not really surprised.

The company reported group cash of 1.6m USD as of 31 December, so why couldn't this have been used to "fund its rapidly increasing portfolio of podcasting content".

The Triton Digital takeover was a big red flag.

So was the financing from FastPay used to pay podcast producers who hadn't been paid their cut of advertising.

And a few have also recently mentioned the SonrNews acquisition which in 2017 cost 1.42m GBP. Again, this could have been used to "fund its rapidly increasing portfolio of podcasting content" instead of going into Rodger Sargent's pocket.

And now? Sonr News is nowhere to be seen. A little evidence...

Last tweet from Sonr News's account was in 2016. Last tweet from its only known product, MyRedd, was in February 2018.

Its only known product, an app for Reddit, appears to be a complete failure. The MyRedd community on Reddit has 6 subscribers and the last post was one year ago.

In fact, Sonr News's website isn't even active any more. It points to an unrelated site in the Philippines.

Let's see what members of their team are doing now...

Regina Lavelle - listed on MyRedd as NLP Project Manager. According to her Twitter, now a London-based freelance journalist

Thomas Evans - listed on MyRedd as Front End Developer. According to LinkedIn, now works at Oddschecker

Russell Peto - listed on MyRedd as NLP Architecture & Ops. According to LinkedIn, now works at Phrasee

"Adam Poulston, a Sheffield PhD candidate, works on the day to day development of MyRedd NLP." According to LinkedIn, now works at Medicines Discovery Catapult

That leaves Amanda Brown, CEO and Tomás Bocanera, CTO.

Meanwhile, Rodger Sargent has been busy with his racehorse Knocknanuss, promoting Blockchain Worldwide and helping Sir Martin Sorrell.

Luckily, I got out of this share unscathed, despite being stupid enough to buy in at the height of the hype. I still have a small holding at negligible cost.

Nevertheless, I'm disappointed with this company's management who never live up to their promises. A real shame given that the podcasting market is really, really exciting right now.

Some great reviews. Feedback from gamers on Twitter seems to be good.

Is also appearing in Top Sellers on Steam's store.

Has a forward P/E of 17.2 (with share price of 194.50, according to Reuters Stockreports+).

H1 revenue was £39.7m with adjusted EBITDA of £10.0m, according to November's interim results. Net cash of £16.7m at 30 September 2018.

Major shareholders:
Reliance Big Entertainment Singapore Pte. Ltd 28.5%
Swedbank Robur 7.1%
Canaccord Genuity Wealth Management 6.1%
Slater Investments Limited 5.4%
Sand Grove Capital Management LLP 5.4%
Soros Fund Management 5.3%
Janus Henderson Investors 4.3%
Merian Global Investors 4.1%
River & Mercantile Asset Management 3.5%

I like this share. Been in for a while and going to hold.

Soros Fund Management takes a 5.66% stake.

That's a nice vote of confidence!

From the admission document... Has F1 2018 franchise game coming out in a few months. Usually goes for around �50 / unit. Last version of this game made lifetime sales of 14m with Codemasters receiving a royalty. "On Rush" game just been released. Mixed reviews. But is Codemasters own IP. From what I understand... Reliance Ent can't sell their shares for 1 year. They also have right to director on board. Current major shareholders: Major Shareholders Reliance Big Entertainment Singapore Pte. Ltd 28.5% Marlborough Fund Managers Limited 5.5% Slater Investments Limited 5.4% Sand Grove Capital Management LLP 5.0% Old Mutual Global Investors (UK) Limited 4.2% Canaccord Genuity Limited1 3.9% Henderson Global Investors Limited 3.2% Slater came on board 1 June with 5.36% and Sand Grove Opportunities Master Fund with 5% of financial instruments just before official listing. Financials (2016-2018) Grown revenue from �31m to �63m Gross profit �26m to �53m Operating profit �3m to �8m (with a �14m spike in 2017) Overall loss of �10m to �0.9m profit Cash at year end �0.8m to �9m Debt: �120m loan due to Reliance, but converted to equity and $5m remaining. Revenues split across geographies in latest year. EU, UK & US - �36m, �12m, �9m. Split of boxed revenue ahead with �37m then digital �25m. Wages: Highest paid director �0.5m with stock options. Dividend: Doesn't intend to pay one. Games in portfolio F1 On Rush Grid Autosport (TOCA series) Micro Machines World Series Dirt (rally game used to be Colin McRae) Overlord Toybox Turbos Older portfolio of published games including: Dizzy series Brian Lara Cricket Operation Flashpoint Bodycount James Pond 2: Robocod Worms 4: Mayhem Particularly known for their racing gaming development engine. Future: Wants to develop more mobile and VR games Current market cap - �385m Shares at a premium to 200p IPO price.

No news two months after announcement of acquisition. Am guessing Rob Proctor is getting short of cash or at least has cashflow issues. Companies House lists a charge created on 31 January with FastPay for what appears to be invoice financing issued against Audioboom's trade marks, patents, copyrights, etc. FastPay looks legitimate, but wondering what this means for Audioboom's cashflow and how much the company is paying to have cash advances on trade invoices.

Special Resolution published today on Jersey company register for Audioboom.

Share price a little down on the £9 offer price. After consolidation new Spark with Gresham House worth £31m.