Member Info for HivedOff

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!

Unfortunately Draper has been at it again…’1.2m booked in first 6 weeks’ of H1 announced mid Feb, therefore just 800k in the latter 20 weeks!

He can’t stop himself, always over egging it!

…and institutions never get it wrong do they.

The value of OTM to its clients, estate agents, is ‘cost per lead’, how many good leads they provide compared to Rightmove and Zoopla.

If the public are not visiting the site then they are not producing enough quality leads and are an unnecessary cost. It is very expensive to get the public to change their habits, and because OTM do not have the whole of the market, i.e all the agents on the site it is an ineffective house hunting tool and not worth visiting. It is a vicious circle that renders OTM pointless and dispensable in a tough market.

27.5% down in a month now. No doubt those agents that can, will start off loading these when there still worth something. Agents that can't sell just yet create a false SP and must be pig sick as they watch it keep coming down.

Rightmove putting their price up will not help OTM it will have the completely opposite effect...read my earlier posts and you will see how OTM missed an opportunity to actually challenge Rightmove, there no chance now, that ship has sailed I'm sorry to say.

Spot on and something will have to give...it won't be Rightmove unfortunately.

I would suggest Chris Mills (whoever he is) is investing in a market he knows nothing about. It's not about giving shares away and getting agents on board, its about getting the public engaged and getting them off Rightmove and onto OTM. Until they can do that, which I very much doubt they can, then agents are paying for a second or in some cases third portal giving them pretty much no return.

If you were selling your house would you check the agent was on OTM, probably not, most of the public haven't even heard of it! Rightmove, then Zoopla and in third place OTM. And what happened to Boomin, that's a red flag, along with 'fish for homes', Prime Location (apparently still going), Globrix, and many, many others, over the years.

Rightmove had a huge first mover advantage, which they exploited brilliantly. In my opinion OTM will be the first cost agents will cut when the going gets tough, it certainly won't be Rightmove.

Down 20% in a month! That’s what happens when you offer a service nobody needs or wants. OTMP has no purpose and agents are beginning to realise that.

Oh yes, no doubt. Draper loved lock down, everyone at home playing games, he mentioned how good it was for business at the time! Hilarious!

This business is doomed, I can't see any sort of bounce here. The reason it won't do a CINE is because the model simply dosen't work, look at Tepilo, Doorsteps, easyproperty, emoov they've all gone.

I do think this investment will be brought to a conclusion one way of the other very soon now. Its been years in the making, but either sensible progress has been made, or I think it is time to bail.

I appreciate it takes a long time to get a business like this off the ground, but Draper has been given long enough now, and without sufficient progress this year, particularly if another raise is required, I think will see me finished here.

On the 1st March we had our last RNS an update rebuking the Azerion take on a court hearing. Since then nothing. In three and half month not a word, from a supposedly innovative company in a ground breaking new market place. It is simply incredible that they have had nothing whatsoever to report to shareholders. Whether this is a concern, or not it is poor by anyone's standards.

Draper continues to worry me somewhat, he got heavily criticised for over ramping the company's potential in the early days, so has now gone completely the other way. It might be suggested he can't win, but he can, a sensible approach keeping shareholders informed is all that is required. Not shouting out that the SP should be 20 times higher when it was trading a 36p. That made him look like an idiot. Now he just looks like a dumb idiot. No offence intended.

Nobody will buy, 'second half weighted', 'lots in the pipeline', 'unnamed triple A publishers', 'nearly pulled off a great deal', 'monies owed to us', 'great winter break', 'toast munching contemplation', any longer, time is up as far as I'm concerned. Show us the money or I'm off, and it will be obvious to anyone watching when that happens.

I’m never eating in that Chinese restaurant again.

I think you are being misleading as well Gridz.

It wasn't just £1m booked for the first quarter, as you suggest, it was 1.2m booked in the first 6 weeks of the first quarter. Of course it would go into Q1, that goes without saying, but the first 6 weeks was the relevant factor, there may well have been another 1.2m booked in the second 6 weeks of the quarter, or maybe more, who knows...none of us!

What's the relevance of the twitter link to a you tube video about vitamin D, or am I missing something here???

Who cares...we more or less know the figures already, its news that we need. We want to know what progress the company has made this year, what the forecast income looks like, what the future holds for Bidstack.

It is all painfully slow, and I'm really not sure whether that is a good thing or bad thing.

...so basically Camilla is saying...'forget everything we have said before, a complete change in direction, our USP of immersive, non-disruptive ads is no longer the way to go'. 'we are now going to adopt the same strategy as everyone else with rewarded video ads, that are neither immersive nor non-disruptive'.

This company is becoming a bit of a joke, they jump from one thing to the next, seem to have no idea where they are going or what they stand for. I can only assume immersive, non-disruptive adverts weren't selling as well as they had hoped...?