PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Yes figures matter Openheimer. Figures like the c£1.85m they've generated in sales and purchase orders since the end of September. This report shows a snapshot in time before the product really had any uptake.
So Openheimer you're wanting to ignore everything that's happened since 30 September, after this report? Sales to hundreds of independent stores, sale to WH Smiths travel stores, to a major supermarket, to Shell, Esso and BP petrol stations? Have to give it time to get the product sales going but as they have said, the leap since 30 September is to the tune of £1.85 million!
Callum has said that they'll name the companies in due course when they get close to launch dates. I guess that will be more of a PR / marketing exercise. I would think the reason they don't want to necessarily be named in these IR investor relations announcements alongside financial data so people don't know exactly what they're ordering.
But Zoetic didn't generate revenue in this way. The reason it crashed is that the deals didn't happen. In this case we have purchase orders, we have revenue. The funding is a good thing. It's what retail is all about. How do you expect them to keep the company going and expand at this rate otherwise unless they can finance inventory. The finance they just took on isn't even equity!
Let's not lose sight of the share price growth that's already happened. They added 150m shares to the market and it's stable. The market cap has gone from 14m before conversion to 20m+ after conversion, so the growth has been recognised by the lack of a big drop. I do think it deserves to be higher and I believe the team will continue to work wonders.
On the marketing front, I think CS has said in videos/interviews that one of the reasons Elf Bar and others were so successful is that they were widely available. Like Gallini says it's not down to social media in this category and people don't just follow brands any more. Don't sweat it, it's coming!
I think the loan is fantastic. An existing major backer of the company has seen what is required and given them lending on very commercial terms, avoiding further dilution. The company is growing faster than they or anyone else expected. It's all falling into place.
6 month accounts were mostly before the products launched so I'd expect both the cashflow and the costs base to be quite different now as they'll both be paying out on different things (new stores, sales teams and so on) and taking in cash from sales which they didn't have before.
Short term pain for long term gain is exactly how I see it. The publication of this prospectus might mean dilution with more shares hitting the market but it also means certainty for the company. The FCA has reviewed and approved their status, their auditors have looked at the company's books and seen a going concern. It also means that the CLN debt is wiped from the company's liabilities. I'm also sure it'll free Callum up more to work on the business.
Not worried by where the price goes this week.
The vapes didn't exist 2 years ago, only the very niche smokes products. The marketing, raves whatever else from before was hopeless. Callum and the team have done a great job in changing that.
They also won't have visited every vaping shop in the country, I'm sure they're on the right course though. Them not being in your local shop doesn't mean much as depending on where you are that area might not be their focus yet. It takes time for momentum to build, it doesn't come overnight and they appear to be making all the right moves.
Give it time Fred. Not everyone in the country will know the brand overnight. The products only went live in August from what I understand. It's obviously already going at some pace or else WHSmiths wouldn't have taken the product.
Viper are you ignoring the RNS on 9 October 2023? It provides figures. He can hardly do more than that as they open up new stores and distribution for the product.
"Further to this agreement, Chill Brands has now secured initial orders from UK retailers worth in excess of £350,000 since the local launch of Chill ZERO during August 2023."
Think the Chill.com news is great. I hold shares there too and it has been pretty miraculous watching their CEO turn things around in the last year. It's gone from being on a one way train to failure to having a real future ahead of it. Let's hope that with this new burst of communication CBX has similar fortunes.
Why bother posting then David? You clearly have no belief in the company, so get on with it if you haven't sold yet, if you even held in the first place.
You talk about the company being thwarted, but far from it. CBD wasn't working, so they pivoted and by all accounts seem to have done so successfully. They've already stated they have an alternative to disposable products ready to go if they ever need it and retailers seem to keep taking the products on.
NEC stand looked good. Lots of people seemed to be engaging with it.
Fred FYI orders from other brands on the chill site that aren't chill are all managed and shipped by the respective companies and not by Chill themselves. I ordered a pack of Yield gummies and some hux products. The Hux stuff arrived in two days, the yield took about the same as yours.
Fred I don't think the Chill own gummies will be coming back. Sort of suggested that in the annual report. Same with Zoetic night cream I wouldn't bank on seeing it again. Yield is obviously a different brand and Chill don't actually carry the stock themselves so that's down to them.