Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Good question on the sales team Girdz.
Presumably big savings on Jude O'Connor and his teams' salaries. Perhaps this is how Draper is intending to get the cash burn down, simply off load the sales team. I can only assume with this 'exclusive' deal, including the USA, that no North American sales team is required or indeed permitted moving forwards... lets hope Bidstack understands that!
You're welcome email, but it hasn't come from me it's come from the company, is you bothered following the news...
There is not going to be a placing, we already know that, as a newbie you obviously do not have a clue what is going on here. Please do you homework or stop making up nonsense, it really isn't very helpful or honest.
5 things that would ignite the SP…
1. EA Games confirmation
2. Azerion resolution
3. Favourable loan terms agreed
4. Improved sales pipeline confirmation
5. Take Over bid received
Any one of these would result in a big jump in the SP in my opinion, more than one and we would be back on track. I’m not sure we will have to wait long.
Children! This is serious stuff...
Lots of buys today, I feel good news is on the horizon. There can't be any more bad news, as half the posters on here have already written this company off!
#thisisjustthestart #threeyearsinone
I agree with Girdz, only in as much as I don't see any of the motions getting through.
However, I don't see this as a bad thing necessarily. This has been the much needed wake up call to the board and I believe will result in lower cost and better communication going forwards, which is what we want.
It is easy to let things get out of proportion on this BB, but in reality this company is going nowhere in the short term, and with the right kick up the back side things could still very likely take off over the coming months.
Nobody is now talking about new business, H2 income and resolving the Azerion debacle, which is a shame. I believe the future of this company could still be positive, and any hint of good news will see a leap in the SP.
I’m holding on in the hope of one of the following three possible developments…
- the company is bought out for more than the current market cap
- a loan is arranged at favourable terms to buy us another year or so
- the Azerion deal is sorted and monies owed paid, delaying or negating any requirement for a loan note.
I think one of the above is our best bet of getting out of this predicament. Failing that, well it’s only money…could be worse.
This business is now worth less than the 10m raised at the last placing. Disgraceful.
Thanks Girdz, this sector is really on fire...great prospects for all involved I would think. Very positive.
More buys than sells today…not everyone reads the rubbish on this board, clearly!
Girdz, you may be right, although its got to the point where they need to do something presumably.
Girdz - I'm not arguing with any of that.
I'm stating facts about the figures provided. If their financials are correct then the company could have a year to run on modest income - that's the point I was making. It can't really be argued with unless you are saying their accounts are skewed, which would be a much more serious accusation.
Fuk79 - That may well be the case, and if in doubt perhaps you shouldn't invest.
I'm just stating, what I see as facts, from the figures we have been provided with. If anyone is in doubt as to the business' future then they clearly should not invest, but the sheer panic and ridiculous rhetoric on this board requires balance.
USER - I understand your frustrations with Draper, but your attitude to other investors is somewhat concerning, psychopathic tendencies springs to mind. Are you slightly unhinged?
The market update was very disappointing, no doubt. The sales team are not performing, and Draper is jumping from one thing to another, which is concerning.
However, are things really as so many of you suggest? By my reckoning this company can keep going for some time yet.
Operational Costs in 2023 11.3m or 940k a month.
Cash held Year end - 8.7m
Income H1 - 2m
10.7m (8.7 + 2) less 5.64m (6 months @ 940,000) = 5.06m Cash Remaining today I assume.
Reduce spend by 40% to 564,000 per month.
5.06m / 564,000 = approx. 9 months - Based on no income at all.
With modest income, by my calculations and the figures provided, the company has at least another years trading, with no loans required.
If income ramps up, it might be that no loan is required, or only a small one.
This is not my opinion, simply fact based on the figures we have in front of us.
Important we have a balance view with some of the rhetoric on here!
Please feel free to add to this list…
- Sign an ‘exclusive’ deal with Azerion and then sign agreements elsewhere.
- Claim the SP should be 20x when it was 36p
- Sell at tranche of his holding before announcing bad news
- Assure shareholders they would have a great winter break, when it was a disaster
- Suggest ludicrous future revenues (100m) and then post a pathetic H1 of just 2m
…yes, and at least it’s cheap to borrow money at the moment…isn’t it??
Well done Helx, you called it right again, no denying that!
This was predictable, having followed BIDS for long enough, if Draper is quiet there is something to hide, always had been. If he thinks things are going well he can’t keep his mouth shut, shouting from the roof tops. The warning was in plain sight, most of us just couldn’t see it. The guy is a charlatan, not sure there is any other way to describe him.
Now we know why Fran made a quick exit! The loss of the Azerion deal was more of a disaster than we had realised, BIDS were totally reliant on it.
Jude is obviously from the same mould as Draper ‘easiest thing I’ve ever sold’, so easy the whole team across USA Europe and the rest of the world managed 2m income in 6 months. Ramp, ramp, ramp, fail, fail, fail! Most of us are only hanging on here because we no longer have any choice, that and blind faith in these cowboys!