Member Info for Fevertreeman

The Board and non-execs have overseen an absolute shamble here. Barrington completely unaffected by disastrous dilution as she has virtually no bloody shares in teh company she purports to lead. The CFo isnt fit for purpose frankly. The Q4 figs appear to be the stuff of fantasy - I would give more creedance if Barrington was able to explain how she gets to the forecast but she appears to be just making it up as she goes along... we have no timelines on onboarding; Barrington cant set out how she arrived at the numbers... she continues to be utterly hopeless as the CEO of supposedly a cutting edge business.

She has never fully explained the onboarding process. If a new centre gets onboarded, typically how long does it take for clinicians to order first tests

Nonsense Donmac.....look at the maths around Barrington's targets: On my maths I don't see how she hits revs from Tutivia $3.2m...

Tutivia: 1H Revs: $1.16m: 591 tests @ ave $1900 ($1.16m divided by 591)

2H Revs: 3Q Tutivia same rate as Q1/Q2 ..c300 tests at 1900 = $570k ...so to meet her target she needs to sell c$1.5m of tests. Assume same ave price of $1900....she needs to sell c790 tests....that's a massive uplift, even with onboarding another 9 more centres...

Worryingly her bullishness has cost investors dearly so far. Apart from having virtually no skin in the game she hasn't been gifted, or regifted (look at the outrageous revision of option pricing). The fact that the sp is still at 3/4 of a penny tells you everything you need to know about how the market views her!

No great surprise that this has dropped back so sharply: traders taking well-earned profits after parabolic rise and impactful newsflow has dried up for the time being. Meantime in the US, REE stocks taking breather & US tech markets v jittery - and that's the backdrop to what will be the key announcement the SPAC . Clearly its been delayed by the US govt shut-down, so not this side of Xmas, which adds to the risk profile given the mounting concerns about the rampant speculation in US markets. My biggest concern is that it doesnt happen/ it does but valuation gets hammered because market has major swoon.

Agree totally......if MS Galleon had any sense (and the cash) they should bid for it before the operational gearing inherent starts to pull thro' at some point next year

Ahahhahahhah

erm...revenue doesnt = profit; then there's the small issue of cashflow...where they have been helped by pre payments from oems for delivery of discs., which has kept them afloat.. sce has an order of c£290m (not £400m) but are capacity constrained at £20m and because of ****-ups by johnson over last few years have consistently missed by a country mile production & delivery targets. until that gets sorted kiss good bye to valuation of £200m

Really? With 15 employees led by a CEO who absolutely destroyed shareholder value with the most botched raise ; who then got gifted in the money options; to replace the lot that were massively out of the money. This is a woman who hasn't purchased a single share outside of what she got gifted.....what have you been smoking?

Absolutely, equally I didnt

You could well be right.....I hope you are.....all I'm saying is that for LTHs who have held for a while, there's no rush to top up, and for newbies, there may well be a lower entry point.

Grow up!

Ex-dividend not till 19 December, so I doubt its accumul for dividend. Mebbe just mebbe people are actually starting to look at the fundamentals and realise that this company is in way better shape than its been in years!

Distinguishing between traders and fundamental investors is near impossible on AIM, as there are so few professional investors for the majority of listed companies outside small -cap & micro funds bar AIM 100 lot, and even there it's selective. Consequence being poor research, limited insittituional ownership, poor liquidity, and a reliance on retail. McNulty is a former analyst so has experience, but he's not the only one here who's ex-FM, analyst or IR....I took a decent amount off the table here over last 2 weeks as the story got heated (nonsense about G7 its apogee) between 55- 67p, as no surprise that the mini bubble burst....and back down we came.

Current Situation:

Some of the heat has been taken out of the sector, but for MKA there remains a fair amount of hopium in the sp, mainly because of expectations around SPAC valuation and timings. The boys really need this to come good otherwise the carefully constructed funding/de-risking strategy could start to unravel. Given the US government shut-down my view is we can forget (unless at front of queue) SPAC listing before Q1 next year, leaving MKA vulnerable to pull-back in stratospheric US ratings, which would, if it happens, crimp the listing and affect the price at which US investors would part with their cash. None of this is in the hands of our guys, so anyone putting in new cash here at the mo. is taking quite a chance. I think you'll find that McNulty would have removed quite a few chips assuming he's done same analysis. Not far fetched that sp retreats back to 25-35p range. Fundamentally, I remain a holder but we are so reliant on other parties to drive the newsflow, that at teh moment discretion is better part of valor.

We're finally in a position where the management team actually looks like it knows what its doing. And cricually we have a chairman who will hold Johnson to account and a New NED who really does know his stuff. Meantime the CFO who replaced Maddock carries the scars from Saietta, so is a good hire. Maddock turned out, unfortunately , to be completely out of her depth, & was seriously at fault for the forecasting/liquidity mess . The replacement for Easton looks like he actually understands the business - Easton didn't prove a great hire either.

Lets hope that the Board really hammered Johnson about £20m forecast......I'm hoping that Cleminson demanded that there was room on the upside because if we fail AGAIN to hit the forecast, we're back to Square oNe, as the endless excuses about capacity issues wont wash

2012: full year revenues of c£2.4m (lower than forecast)

2022: full-year revenues of £5.1m (lower than revised forecasts) ..

2023 : full year revenues of £7.3m below original/revised forecasts (Jan 23..."the Company is not changing its guidance for 2023 and will be profitable" ; Apr 23 "Our overall profitability during FY 2023 is expected to be below market expectations." ); Nov '23 " As a result, the Company is reducing its sales guidance for the year to December 2023 to £8.6m"

2024: full-year revenues of £8.2m (lower than revised forecast).... Jan '24 "The Company is maintaining its revenue guidance for 2024 at £23m" ; April '24 "projected FY 2024 range of £17.5m to £22m" ; Sept '24 " revenues ....now expected to be circa £11m .....significantly lower than current market expectations of £17.5m".

Inevitable that in the absence of news this drifts back - remember that we've had massive dilution here, and Kevin Johnson has serially f***** up so the real jury ( i.e. investors who have spent time understanding the product, the processes, the market , the customer base, and the barriers to entry) remain highly sceptical of management's ability not to f*** this up again. Johnson's history around forecasting, operational enhancements and scaling is dreadful. Given that furnace capacity is critical to the disc manufacturing process and therefore revenue, cashflow, & output, until we know for sure that Johnson hasnt yet again screwed it up, we're not likely to see any sustained recovery here. Although they've already telegraphed Q3 yield will be impacted by the installation, investors will be unlikely to pull the trigger until (10 we can see Q4 yields are steady and consistent c80pc (2) new CFO doing his thing and we're not about to have another liquidity issue.....we 're by no means out of the woods.....Cleminson has been superb in bringing us baxck from near death.....we're out of intensive care but still in the high dependency ward...my hope is that we can gradually move back to general ward, and then be discharged during 2026.

Not Topps's market -tiles for AGA lot - but another competitor gone down....when, no if, we finally emerge from Rachel Thieves nightmarish grip, Topps likely to be last man standing....

1.7m traded....and sp barely budges. Does anyone have any clue ?

Got to hand it to Schroders- so much for their much vaunted relationship with government and energy department. They couldn't un a bloody bath. ....Fully expect that we will now have Shar Buy Back Version 3.....because folks they have f*** all clue how to turn this around...Brava Lucinda Riches, Nick Winser et al on the Board...significant capital losses for your shareholders; gearing too high; yield of 10pc, and apparently fingers in the air approach to NAV