RE: My thoughts on the increase in share price this week26 Nov 2019 15:04
Think I'll keep my shares and trust I the chairman... not someone who pops up everytime the "Sheriff " seeks an entry....
Donald Stewart
"We made extraordinary progress in the first half which has continued since the end of the period. It is also fair to say that the business has matured significantly.
While our H1 strategy has been at the expense of short-term revenues, the Board remains convinced that getting the fundamentals right is the key to future success.
We plan to continue hiring at pace. In particular, there will continue to be sizeable expansion in the technical development team. However, both the sales and supply teams are also expected to grow quickly with additions in the US and Europe, as well as in the UK reflecting where we expect to find advertisers and games publishers. These teams will be key to developing significant future revenues bringing both brands and advertising agencies as well as new games with substantial advertising inventory. Additional growth will also bring additional administration and the Group will need to fill consequent managerial positions.
As I anticipated almost six months ago, the Board continues to expect the Group to be cash flow negative in the second half of 2019 but believes that market expectations for 2019 revenues remain achievable, revenues are expected to grow significantly in 2020 propelling the Group towards material profitability in 2021".